Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

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Second Blanchard Suit Against Barrick, Morgan Seeks Damages for All Gold Owners

By: Chris Powell, Gold Anti-Trust Action Committee Inc.

Dear Friend of GATA and Gold:

Blanchard & Co., the New Orleans coin and bullion
dealer, says it will file tomorrow another anti-trust
lawsuit against Barrick Gold and J.P. Morgan Chase
over their alleged manipulation of the gold market.

The new lawsuit will be a federal class action that
intends to build on the first Blanchard suit so that
all gold investors in the United States since 1998
might recover losses caused by the Barrick-Morgan
Chase conspiracy.

Blanchard CEO Donald W. Doyle Jr. made the
announcement today in an interview with GATA.

Blanchard's first lawsuit, which has entered the
evidence-gathering "discovery" phase in U.S.
District Court in New Orleans, is expected to go
to trial in April 2005, Doyle said. He added that
Barrick and Morgan Chase are not being forthcoming
in discovery and that Blanchard has filed a motion
asking the court to compel them to produce certain
evidence. Still, Doyle said, he is confident that
evidence already obtained has given Blanchard a
strong case.

The current lawsuit seeks only injunctive relief
-- a court order prohibiting Barrick and Morgan
Chase from continuing to manipulate the gold
market. The class-action lawsuit to be filed
tomorrow, Doyle said, will attempt to quantify
the financial harm done by Barrick and Morgan
Chase to gold investors and devise a remedy for
their restitution.

The named plaintiffs in the class-action suit
will be Greg McKenzie and A.J. Miller, Doyle said,
and Blanchard & Co. will bear all the expenses of
the litigation.

"We expect to obtain compensation for all gold
owners, not only for their losses from their gold
investments but also for the profits they should
have realized," Doyle said.

"The exact number of gold owners who are members
of the class is unknown at this time and can be
determined only through appropriate discovery
and expert testimony. But we allege, on
information and belief, that the members of the
class owned, during the period at issue, about
96.5 million ounces of gold having a market value
of $38.58 billion at $400 per ounce. Once a
judgment is obtained and the amount of damages
suffered by the class members is determined, those
damages will automatically be tripled under the
mandatory provisions of the federal anti-trust
laws.

"In 1983 Barrick Gold Corp. was a start-up
company with a single mine in Canada and a
founder with no experience in the gold business.
By 2001 Barrick had amassed off-balance-sheet
assets that were worth more than the market
capitalization of the next five biggest gold-
mining companies in the world combined.
Barrick made $2.3 billion on its short sales
of gold and made a profit on those short sales
for 62 consecutive quarters. A short sale is
inherently a high-risk speculation. How many
true speculations have ever been profitable
for 62 consecutive quarters?"

Blanchard's original lawsuit charges essentially
that Morgan Chase provided Barrick with so much
borrowed gold -- presumably obtained from central
banks -- on such favorable terms that Barrick
could overwhelm the market and move prices up
or down at will and not have to repay the
borrowed gold for many years if at all. In some
years, Blanchard maintains, Barrick was able to
supply to the market more gold than was supplied
by all the bullion banks combined.

In an attempt to have Blanchard's lawsuit
dismissed, Barrick seemed to acknowledge the
plaintiff's premises. Barrick submitted a motion
arguing that in borrowing gold and selling it
into the market, the company was acting as the
agent of central banks and carrying out their
policies in the gold market and thus should share
their immunity from lawsuits.

Judge Helen Berrigan rejected Barrick's motion
and sent the case on for discovery and trial.

"While the price of gold fell by more than 25
percent," Doyle said, "Barrick was able to
increase its annual operating cash flow by
more than 400 percent. Barrick became the
dominant gold mining company in the world
through acquisitions made with the profits from
its short sales of gold. By suppressing and
depressing gold prices, Barrick forced its
competitors to sell gold assets and companies
at fire-sale prices.

"The measures that Blanchard has taken have
already been good for the gold industry and our
clients. Since we began discussions with Barrick
in this lawsuit, the company has reduced its
hedging position by 10 million ounces, adding
gold demand and subtracting gold supply. On
December 2, 2003, Barrick's president and chief
operating officer announced that Barrick had
given up hedging for good. By consenting to the
termination of its short sales of gold --
assuming that Barrick honors its commitment --
the company took a major remedial step sought
by Blanchard's original complaint.

"I believe that the class action will be
successful in recovering damages and putting a
stop to practices that have suppressed and
depressed the price of gold and all tangible
assets," Doyle concluded.

Blanchard's Internet site with information about
its litigation is:

http://www.savegold.org

GATA hopes to provide you with more information
about Blanchard's lawsuits as it becomes
available.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

----------------------------------------------------
GATA BE IN IT TO WIN IT! (Frei nach Thaiguru )

Thai,

volle Zustimmung,absolut.Wäre es denn nicht Interessant,wie die Banken diese Luftbuchungen in ihren Bilazen unterbringen? Etwa als Einlage,Rückstellung oder wird ganz frech dem Gewinn zugebucht? Die Differenz muss doch gebucht werden.Kann interessant sein,muss aber nicht.

Grüsse

Kalle

Hallo Thai Guru
möchte mich bedanken, dass Du das in deutsch geschrieben hast !

Sehr interessant

Gruss von der Alp

@ Thaiguru,

natürlich an fallenden Preisen, ist doch für die Bank das Geschäft wenn sie ja immer nur ein zehntel halten muß.

gruß hpoth

@ Hallo Thai,

finde ich sehr nett von Dir auch was in unserer Sprache zu lesen, danke Dir dafür.

gruß hpoth

@thai

das einzige was ich nicht verstanden habe ist dass wenn du Banken schreibst, nur die Bullionbanken meinst.

Zitat

Original von ThaiGuru
yoyo

Argumente, und Belege warum die Gold Bullion Banken an tiefen Goldpreisen interessiert sind, waren schon unzählige Male in diesem Thread zu lesen. Das meiste davon jedoch leider nur in englischer Sprache, weil in Deutsch, nur sehr wenig zu diesem Thema geschrieben wird...

ThaiGuru

Mein Vorschlag: Ich beteilige mich an einem Übersetzerring. Mitglieder dieses Rings übersetzen je einen oder mehrere Teile eines Artikels vom Englischen ins Deutsche. So kann ein langer Artikel in relativ kurzer Zeit übersetzt werden. Ich mache diesen Vorschlag, weil nur so die interessanten Artikel auch denen zugute kommen, die kein Englisch können, aber an der Materie interessiert sind. Schließlich will ich den Kreis derer, die Gold und Silber in all seinen Formen kaufen wollen (vor allen Dingen physisch und Aktien von Gold- bzw. Silberminen) oder einfach der Finanzmaschinerie nicht mehr trauen, vergrößern. Es bringt doch nichts, wenn wir gold bugs hier im Forum unter uns rumpalavern. Wir müssen unser Wissen hinaustragen, damit der Kreis der Wissenden größer wird. (Ich z. B. drucke schon seit einiger Zeit Artikel aus und gebe sie Freunden und Bekannten, damit ihnen endlich ein Licht aufgeht bzgl. des fiat money Systems.)

Welche Artikel als wichtig angesehen werden, wird in demokratischer Abstimmung beschlossen. Thai mit seinem reichen Erfahrungsschatz kann auf jeden Fall eine Liste wichtiger, zeitloser Artikel, die nur in englischer Sprache veröffentlicht worden sind, zusammenstellen.
Die Mitglieder des Übersetzerrings einigen sich dann, in welcher Reihenfolge sie übersetzen wollen, also Artikel x zuerst, dann y usw. Die Mitglieder einigen sich untereinander, welchen Teil des aktuell zu übersetzenden Artikels sie übersetzen werden und wann sie mit der Übersetzung fertig sein wollen. Am Ende kann ein Moderator bekannt geben, wann Artikel x fertig sein wird.
Ist der Artikel übersetzt, dann wird er von einem Moderator in goldseiten.de abgelegt, und zwar das englische Original unddie deutscher Übersetzung.

Also: wer beteiligt sich mit mir aktiv an der Verbreiterung von essentiellem Wissen über Geld, Gold und Silber?
Grüße

extrel

klasse Idee, mein Englisch reicht nämlich gerade mal für Hello und good bye.

das wäre echt eine Bereicherung fürs Board. Vielleicht sollte man dafür sogar einen neuen thread aufmachen.

extrel,

Super Idee! Da werde ich mich beteiligen. Ich würde die Liste aber gerne noch erweitern um den Bereich "Wie FUNKTIONIERT das fiat money Finanzsystem".

Die (Staats)schuldenfalle hängt ja auch eng mit dem fiat money System zusammen.

Gruß

Earnie

Hallo Thai Guru

Was trieb mich auf die Alp ?

Die Hektik im Geschäftsleben. Immer das Monatssoll im Nacken. Und immer der Konkurrenz eine Nase voraus zu sein. Der ganze ständige Druck. Aus diesem Grunde ziehe ich mich regelmässig mit genügend Literatur auf meine Alp zurück. Du hast Dich ja auch "abgesetzt" , aber wahrscheinlich nicht nur zeitweise oder ?

Gruss von der Alp

Neues von unserem geliebten (und verachteten...) Teddy Buttler:
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Msg #
From: GATAComm@a...
Date: Tue Sep 21, 2004 1:47 am
Subject: Ted Butler: This looks like the setup for a rally in silver

ADVERTISEMENT
The Setup?

By Ted Butler
Monday, September 20, 2004
http://www.InvestmentRarities.com

The market structure, as defined by the Commitment
of Traders Report (COT) for futures positions on the
COMEX, improved dramatically for silver over the past
two reporting weeks. It is rare to get a bullish surprise
in this report, but the amount of technical fund selling
and dealer buying was outstanding. In fact, the current
readings show that we are just about at the low levels
of net dealer short positions seen at the prior two
"mother" buy points. While it is always possible for
further improvement (along with lower prices), the bulk
of the tech fund selling/dealer buying is behind us, in
my opinion.

In the past two weeks the tech funds have sold and the
dealers have purchased, 20,000 net silver futures
contracts on the COMEX. That's the equivalent of 100
million ounces of silver. Although I have written about
this extensively in the past, I ask you to consider it
again. The only reason the price of silver fell more
than 80 cents an ounce (more than 10 percent) in the
reporting period was due to the paper sale of 100
million ounces of silver by the technical funds on the
COMEX. Most of the decline came over a three-day
period.

I ask you to think about that 100 million ounces of
silver contracts sold by the tech funds and bought
by the dealers. First, it is truly a very large quantity
of silver. It is more than 16 percent of total world
annual mine production, and double what the
United States mines annually. It is greater than what
Mexico, the world's largest silver-producing country,
mines in a year. It is almost as large as the entire
inventory in the COMEX-approved warehouses, the
largest known inventory in the world, by far.

This 100-million ounce amount that just changed
hands on the COMEX is roughly equal to the famous
purchase by Warren Buffett seven years ago. The
difference is that Buffett took more than six months
to buy his real silver, the most celebrated silver
transaction in decades, while the equivalent amount
was transacted in a matter of days on the COMEX.

Common sense should tell you that the COMEX
transaction, even though it was paper, exerted a
large influence on price, given its large size. In fact,
it was the only logical explanation as to why silver
sold off so sharply.

My point here is clear; paper trading on the COMEX
sets the near-term price of silver, and not supply and
demand in the real world. Period. This is the purest
example of manipulation that you will ever see. To
those who would argue that there is a buyer for every
technical fund contract sold, I would agree. The
problem is that it always is the dealers who collude
and conspire among themselves, and collectively
pull their bids as the tech funds sell. This is why
prices always suddenly collapse when the tech funds
get long. It is always just a matter of time. The
question is: Why are the tech funds so stupid to
continue playing this rigged game?

The other question is: Why are the silver miners not
objecting to this obvious rigging of the price of silver?

A couple of weeks ago I predicted that if the price of
silver sold off, it would be because the dealers
hoodwinked the tech funds again. That is exactly what
happened, as verified by the government-issued COT
report. I don't know how it could be clearer that paper
speculators on the COMEX are setting the price of
silver. This is expressly against the remise of
commodity law.

If the miners, principally but not limited to Pan
American Coeur d'Alene, Apex, and Hecla, haven't
taken advantage of the well-telegraphed selloff to
buy silver, they have squandered another wonderful
opportunity. If all they are doing is thinking about it,
it is probably too late. At the very least they should
be speaking out against the documented shenanigans
on the COMEX.

The good news, of course, is that the tech funds have
already sold. Most if not all of the risk has been
removed from the silver market. Now all that remains
to be seen is if the dealers sell short again on the next
rally, as the tech funds come in to buy. If they do sell,
it may not be the big one. If they don't sell short
heavily, it WILL be the big one.

Either way, we won't know until the rally develops, but
we should get that rally nonetheless. So this is not the
time to hesitate to buy, based upon the tech fund
cleanout in the COTs.

----------------------------------------------------

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auch mein englisch ist nur ausreichend.

hier und da eine übersetzung wäre genau richtig .