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

US Dollar

- The US Dollar is in a temporary counter trend correction to the upside after bouncing off .80 five times. Expect choppy action as it proceeds to a minimum of .84 and a max of .88 Estimate this wave up to last two to four weeks. Next wave will go down below .80. - - This trend is due to short covering. Could end sooner if other indicators kick in as currency traders are getting close to the areas where they start selling dollars again.

- Since early 2002 the dollar has lost 37% against the Euro and 24% against the yen.

- The US dollar crisis is not coming. It is here. Nobody on CNN speaks of it.

- The US $ is in a bear market rally but going down the drain. Below 80 within a month in an accelerating crisis. Short covering is preventing a break below USDX .80. Once .80 is broken convincingly, there could be a potential freefall of the $. There is no defense of the $ below .80. (Sinclair).

- Russia, China and Iran have much to do with the dollar bear. The horrible chart of the US $ is second only to the bankruptcy of Enron.

- US$ @1.40 against the Euro is the next target.

- Interest rates must rise to double digits or the dollar must fall.

Silver

- $1 Billion short position rumored.

- Why aren’t deliveries being asked for on contracts?

- China has secured 75% of the world’s 2005 silver production via various derivatives maneuvers. Silver price will explode. Look for $10 by April or sooner.

- Like gold, an engineered sell off has occurred so the shorts can cover their positions. A huge new short position has been added in addition to liquidation.

- The market has done everything to convince the retail investor never to be in silver again as per April and now. Investors and traders do not want to have to compete against any more than they will have to. Very Bullish!

- The most unreported silver story of the year…..The Mexican Bill. All 31 Mexican Governors want to monetize silver and urge approval of the Bill. Mexico is the world’s largest silver producer. This story has not been reported in the American financial press.

Oil

- Prices 30% higher than Jan 04.

- China oil imports up 21% over 03.

- Osama threat to Saudi Arabia to target oil fields. If one drop of crude burns oil will rocket to $60 to $70.

Charts Data

- 34 year gold chart shows breakout to the upside.

- S&P moving in opposite direction to CRB Index.

- Market value of Real Estate has moved higher and rate of disposable personal income has moved lower to in affordability.

- Asset value in homes at 29% of value of total assets.

- Gold solidly above 200 day moving average 1 year.

- Gold solidly positioned in up trend channel from 2000.

- Dollar solidly entrenched in downtrend channel established Feb/02.

- Price of gold has risen from $255 to $425 since Jul/99. Thirty year T Bond Yield has fallen from 6.6% in Nov/99 to 4.4% Nov/04

- S&P 500 up from 820 Sept/02 to 1180. Gold from $330 Sept/02 to $425.

Reference Sources

Dr. K. Richebacher, Doug Casey, Wistar Holt, Bill Murphy, M. de Charbert-Ostland, Derek K. Artsdalen, Dr. R Appel, Jim Sinclair, Richard Russel, John Embry, Bill Buckler, Sol Phala, John P Calverly, Eric Hommelberg, Lars Lindgren, Dave Morgan

ganz interessanter Artikel, der sich kritisch mit den Silberinvestoren auseinandersetzt:

http://www.gold-eagle.com/edit…_05/kanarowski010705.html

Quelle: News from The Globe and Mail

Silver could fly if China stops selling

By WENDY STUECK

00:00 EST Saturday, January 08, 2005

VANCOUVER -- It might be known as poor man's gold, but silver outpaced its more expensive cousin last year and analysts and producers say it has bright prospects for 2005.

One of the biggest factors behind that optimistic view is China, which has been selling excess silver -- amassed during decades when the only buyer for the country's mined silver output was the People's Bank of China -- on the open market, unloading millions of ounces a year each year since 1999.

But the amount sold each year has been gradually declining and there is now speculation that the Chinese stockpile may be gone.

"In the last five years, we reckon China has sold close to 300 million ounces of silver on the world market," says Ross Beaty, chairman of Vancouver-based Pan American Silver Corp. "The absolute amount of that stockpile is not known. But we know it is seriously depleted and we think it may be completely depleted."

The buzz around silver has been building for at least the past 12 months. Silver futures contracts took off early in the year, soaring to 17-year highs of more than $8 a pound in April on the Comex division of the New York Mercantile Exchange. Prices subsequently dropped, ending the year at $6.81, still substantially above the $5 mark where the metal has treaded water for most of the previous five years.

Silver closed yesterday at $6.43 on the Comex exchange.

In terms of price appreciation, silver outperformed gold last year, rising 13.6 per cent in U.S. dollar terms, compared with 4 per cent for gold, based on closing prices in London.

Over a five-year period, from 1999 to 2004, silver rose 27 per cent and gold 50 per cent.

Silver's biggest role is not as an investment but in the industrial, jewellery and silverware, and photographic sectors, which account respectively for about 40, 30 and 20 per cent of annual demand.

The photography sector, which accounted for 22 per cent of silver demand in 2003, is shifting to digital technology, which has reduced demand for silver.

But that drop, about 4.7 per cent in 2003, according to London-based consulting firm GFMS, has not been as dramatic as some had expected. And as the usage of silver in the film sector declines, it's picking up in the printing sector, as consumers seek out high-quality prints for their digital pictures.

Silver is also being used in a growing number of applications, such as anti-bacterial medical dressings.

An improving outlook for silver has companies gearing up for exploration, especially in Mexico, the world's biggest silver producer.

Vancouver-based First Majestic Resource Corp. has been snapping up silver projects in Mexico, and began producing the metal at its La Parilla mine in July.

Western Silver Corp., also based in Vancouver, announced Dec. 23 that it had wrapped up a $64.8-million (Canadian) financing to help develop its Penasquito project in Mexico.

There are relatively few pure silver plays and the handful that exist tend to trade at even loftier premiums than gold producers. The group includes Pan American, Idaho-based Coeur d'Alene Mines Corp. and Apex Silver Mines Ltd. of Denver.

Vancouver-based gold producer Wheaton River Minerals Ltd. last year announced plans to spin off its silver production into a separate company, a move that will create another pure silver play.

Silver Standard Resources Inc., also based in Vancouver, does not currently mine silver but has built up a portfolio of silver projects with an eye to profiting from the metal's future price increases.

© The Globe and Mail

Zusammenfassung der wichtigsten Punkte:

• Für Silber werden 2005 hervorragende Perspektiven vorausgesagt. Einer der größten Faktoren hinter diesem Optimismus ist China, die seit 1999 Mio. von Unzen Silber jedes Jahr verkauften.
• Insgesamt haben die Chinesen 300 Mio. Unzen Silber in den letzten 5 Jahren verkauft. Der Umfang, den die Chinesen verkaufen, ist jedes Jahr weniger geworden und es gibt Spekulationen, dass der chinesische Vorrat weg ist !

Dies würde auch die Gerüchte im Metropole Café bekräftigen, dass die Chinesen über Derivatgeschäfte sich Silberbestände für 2005 sichern wollen. Ihre Bestände gehen wohl zu Neige !

January 10 – Gold $418.60 up 20 cents – Silver $6.42 up 1 cent

Surprise Financial Market Tsunami As Real As The One In South Asia

Have great hopes and dare to go all out for them. Have great dreams and dare to live them. Have tremendous expectations and believe in them..Norman Vincent Peale

GO GATA!!!

There so much quality material to read in this MIDAS (which will require some time), I am keeping my comments to a minimum on yet another revolting Gold Cartel day. There is very little point to following the gold price around the world because it is always taken down in the US, following major capping by the cabal. This morning’s AM Fix was $421.25. That was all she wrote.

Was the gold news bearish in the US? Hardly. Not while gold was open anyway.

Oil not only took out $46 per barrel, but $47 too, before collapsing after the Comex close to $45.25 down 18 cents.

Some key oil news as per a friend of John MacKenzie:

Iraq has canceled its December Kirkuk crude term contract commitments with lifters because of ongoing sabotage-related disruptions to crude flows to the Turkish Mediterranean port of Ceyhan, shipping agents said Monday.

"All loadings have been canceled," a shipping agent said. "They [the vessels] have been told to go home." Iraq's Kirkuk crude exports to Ceyhan stopped more than three weeks ago after a string of attacks from Dec 17-18 hit key infrastructure sites along the northern pipeline network. Iraq's oil ministry has struggled to repair the damaged network but poor security conditions and extensive damage have hampered its efforts. Four tankers—Minerva Lisa, Butron, Astro Cassiopeia and Sea Magic--have been waiting from as early as Dec 18 to load 4.625-mil bbl of Kikruk crude for ExxonMobil, Spain's Repsol and Cepsa and Portugal's Petrogal, shipping agents said. "If there was any prospect to load, it would have been done," the agent said.

State Oil Marketing Organization officials declined to comment on the latest development, but it is likely that SOMO will have to pay a significant amount to compensate lifters for the cancellation. SOMO has carried heavy security-related costs for delays to loading since the US-led invasion of Iraq toppled Saddam Hussein in April 2003. With Kirkuk crude off line, it is now unlikely that SOMO will move to sign long-term contracts for Kirkuk crude for the first half of 2005 until there is better security along the pipeline network. Of the 147 attacks against the country's energy infrastructure recorded in 2004, the majority have occurred in the north, making it difficult for SOMO to guarantee its commitments. "Kirkuk will be sold when there are stocks in Ceyhan," an industry source said.

-END-

Reasons given for the stunning late turnaround:

Bearish API reports coming in.
Better oil flows coming out of Houston ports/channels.
Refineries pounded heating oil late.
Gold lost ground again versus foreign currencies:

The dollar lost .36 to 83.36.
The euro gained .30 to 130.92.
The pound rose .56 to 1.8688.
The yen leaped to 104.19.

The gold open interest fell sharply, down 10,131 contracts to 279,959, which is nearly 100,000 contracts off its high. The Gold Cartel’s blatant price bashing has achieved its objective of demoralizing spec longs and gold investors in general. The hedge and high tech funds are running for the hills, and doing so like crazy.

The cabal won this battle, however, the Gold Cartel’s problems are mounting significantly every month. One need only read the material presented in this MIDAS to understand why they are losing their war. As 2005 progresses, the price will reflect just how much so.

This commentary from a fellow Café member from Mexico sums up the gold market and where we are:

Bill.
Until the Cabal in taken out in a stretcher, Midas daily commentary may well be summed up in the following:

When the dollar goes up, gold is trashed down
When the dollar goes down, gold is stopped from going up
Gold will not move freely and allowed to be subjected to the forces of supply and demand, _not those of the Cabal, until the Cabal is taken away in a stretcher. When this finally happens the gold market will stop being monotonous and show some variety.

Then Midas will be able to report other than the above commentary.

It’s not the dollar - the one that moves gold, but the Cabal; and it moves it down in every opportunity. It’s not Midas the one that is boring, but the gold market itself.

Bill, keep high your spirits and your great efforts because it’s just a matter of time.
Gabriel.

While the gold open interest plummets, silver's remains steady. It rose 438 contracts to 97,728. Morgan Stanley remains aggressively bullish. The floor believes if March silver can take out $6.52, the price will fly.

The John Brimelow Report

Continued selling pressure imperative for Bears;

Monday, January 10, 2005

Indian ex-duty premiums:: AM $9.92, PM $ 7.92, with world gold at $419.80 and $421.10. High; very ample for legal imports. A regular pattern seems now to have established, with gold edging up during the Indian day in the absence of US sellers.

Japan was closed today. Premiums from the Shanghai Gold Exchange edged up from Friday; $3.39 -$3.96, with world gold at $419.70: also high.

Friday of course was notable for the ferocious storm of selling in NY surrounding the Treasury Secretary’s jawboning of the dollar. An estimated 34,000 contracts traded between 10 am and Noon, a volume which used to be common in a day. Gold plummeted $6. And in fact, since the day’s volume turned out to be 105,975 contracts, 20% higher than the estimate, the actual shock was probably greater. Open interest collapsed 10,131 contracts – 31.5 tonnes.

This means that open interest has now declined over 50,000 contracts or 157.9 tonnes since gold and open interest peaked on December 28. This is 15.4%. Quite possibly this understates the selling pressure, since presumably the woeful technical picture has brought in some short selling (which would bolster open interest).

If gold were a market primarily determined by the matching of Western opinions, this liquidation would only be mildly encouraging. The question would be: what will revive buying? As it is, however the selling is going into a price elastic off take, primarily India and the Middle East, which is supremely indifferent to the considerations which move the West - especially the US. In other words, to keep gold at this level, this selling pace will have to be continued. That might be difficult to orchestrate.

Perhaps sensing this, a number of professional observers were quite sanguine about Friday’s action. First amongst these were of course the gold shares themselves, which quite uncharacteristically went up. UBS was another, commenting:

"…on Friday gold traded down to $417/oz briefly before recovering. We suspect that this may mark the low point in gold in this sell-off…Interestingly, euro-denominated gold has remained stubbornly supported over the past couple of trading days despite the large-scale speculative selling. We suspect …fundamental buying has supported the metal. We estimate …speculators have reduced positions to levels not seen since September 2004... We continue to view this current sell-off in gold as a temporary phenomenon... We hold our one-month forecast of $440/oz and see this as an attractive level to buy gold."

Refco Research is a third, putting out a buy recommendation for the first time in many weeks:

"Buy 1 February gold on break of 421. Risk close under 417. Expect 432"which became active this morning.

Conspicuously not amongst this group is The Gartman Letter:

"The reason for golds' weakness is really quite simple: the dollar is strong and the demand for gold is lower as a result…We have said all along that gold might well trade back to the $395-405 level before the market is healthy again ."

As readers of these notes know, Gartman is quite wrong about gold demand – the extraordinary Turkish imports last month, the premium data, and a host of anecdotes and remarks from the dealers refute him. Strictly speaking, he is wrong about the $US too – gold began to buckle under waves of heavy selling before the turn of the year prior to the dollar surge getting under way. But considering him as a bulletin board/propaganda conduit for major hedge funds, which I believe to be appropriate, his view explains the dogged selling seen recently – especially after the Comex data was released this morning.

JB

CARTEL CAPITULATION WATCH

The DOW gave up sharp early gains again, went down on the day, but rallied modestly later on to finish at 10,621, up 17. The DOG went plus 8 to 2097.

US economic news:

10:00 Nov. Wholesale inventories reported 1.1% vs. consensus 0.7%
Prior reading unrevised at 1.1%.
* * * * *

The US employment picture is still not a rosy one:

GM to drop 7% of jobs in '05
CEO: Workforce will lose 8,000 through attrition and retirement
January 10, 2005
BY JEFFREY McCRACKEN
FREE PRESS BUSINESS WRITER

General Motors Corp. will again shrink its U.S. workforce by about 7 percent in 2005, its chairman and chief executive told the Free Press on Sunday.

That works out to about 8,000 hourly and salaried positions that will be lost through attrition and retirement at GM over the next 12 months.

This 7-percent cut of GM's overall workforce is in line with what the automaker has done every year since 2002 as it tries to trim costs amid rising health-care expenses and other concerns… - END-

Comments coming from Jean-Claude Trichet at the G-10 meeting are insidiously laughable. Because Charlie McCarthy Snow says the US is going to act to seriously to correct our deficits, Trichet’s remarks come across as practically giddy. One has to suspect his private utterances are far different in nature:

BASEL, Switzerland, Jan 10 (Reuters) - Central bankers from the world's most important economies welcomed on Monday a promise by the United States to tackle its budget deficit, which is plaguing the dollar.

Failure to correct the huge U.S. trade and budget deficits poses a risk to the world economy, which is expected to grow at about 4 percent or better this year, Group of 10 chairman Jean-Claude Trichet told a news conference.

"We were certainly aware of the declaration of (U.S. Treasury) Secretary (John) Snow as regards the will of the U.S. government to take into account the necessity of reducing the fiscal deficit," he said.

"It was said very, very clearly by Secretary Snow, and I take it that it is certainly very important ... and has been considered very important by all observers," he said.

In early February the Bush administration unveils its budget plan and on Friday Snow gave the first hint of budget discipline, saying he wants to "do things" and work with Congress to bring the budget deficit down.

Trichet, who chairs the G10 meeting of central bankers from top industrialised and emerging countries on the global economy, said correcting the lack of U.S. domestic savings is important to resolving global imbalances. "What Secretary Snow said is very important to advance this global consensus," he added.

The G10 comments follow a call for U.S. action by the head of the International Monetary Fund, Rodrigo Rato. "America must resolve the problems linked to its budget deficit, which is now truly excessive," he wrote in Italy's La Stampa newspaper on Sunday.

Investors are increasingly nervous about funding the huge U.S. trade and budget deficits, which pushed the current account deficit over 5 percent of GDP last year.

Accordingly, the U.S. dollar has shed 25 percent of its value in trade-weighted terms over the past two years, straining the euro and the yen. Rato, in an unusual move, attended Monday's G10 discussion on the global economy.

Trichet further embraced the significance for the euro zone, which has suffered the brunt of steep dollar declines, of Snow's remarks by swapping his hat as G10 chairman for that of European Central Bank President to say how much he appreciated them.

"Secretary Snow said something that is very important and very appreciated," he told the news conference.

Snow's comments that the U.S. wants to "do things" to sustain the dollar helped the dollar regain strength. It traded at $1.3094 to the euro at midday on Monday compared with a recent low beyond $1.36, and currency analysts said the remarks should further lift the dollar.

"It's the first thing that sounded remotely like coordination of comments across the Atlantic for God knows how long, so that may give the dollar a bit more support " said Adam Cole, senior currency strategist at the Royal Bank of Canada.

"They seem to agree on what lies at the root of the problem -- that may give the dollar more support."

-END-

For the US to really correct our structural fiscal problems it will require some form of significant spending cuts, and or, tax increases. The result will be a US economic recession. If interest rates take off in a major league way, it could be worse.

While Trichet begs for US fiscal responsibility, we are going in the other direction:

http://www.courierjournal.com/…04/opin-bot0104-2947.html

..."The Medicare drug benefit the administration muscled through Congress, without even a pretense of funding and with deliberately misleading estimates, will add $6 trillion to $8 trillion to Medicare's shortfall over the next 75 years, the GAO determined.

That is nearly double the Social Security shortfall that President Bush is acting so alarmed about, and it "is one of the largest unfunded liabilities ever undertaken by the federal government," said Comptroller General David Walker, head of the GAO. "

Then, there is Iraq. For the US to achieve our own objectives in that country it is going to cost far more than budgeted at the moment. How can we bring our budget down when that aspect of the budget must be increased substantially?

I’m no economist, but to pull off these objectives the average American will probably have to accept a 20/25% reduction in our present standard of living. This is what the Bush Administration will have to level with us about. So will the incumbent politicians. Of course, this will not reconcile with President Bush’s campaign promises. What do you think the odds are of some honest rapport with the US public coming out of Washington, or Wall Street? How about zero and less than zero?

The alternative is for the dollar to plunge when foreigners refuse to accept our routine any longer. Interest rates will eventually soar anyway as they will have to be raised to stop the hemorrhaging. The economy will inevitably sink into recession in this scenario also. The only difference is the politicos will look for some other scapegoat to blame the economic contraction on.

It appears the US is going to have the elections in Iraq regardless and declare victory irrespective of their quality:

Citing Safety, Iraqi Electoral Board Resigns
By Jackie Spinner
The Washington Post
Monday 10 January 2005

Members of commission in volatile Anbar province report threats by insurgents.
BAGHDAD - In another significant blow to Iraq's upcoming elections, the entire 13-member electoral commission in the volatile province of Anbar, west of the capital, resigned after being threatened by insurgents, a regional newspaper reported Sunday.

Saad Abdul-Aziz Rawi, the head of the commission, told the newspaper that it was "impossible to hold elections" in the province, which is dominated by Sunni Muslims and where insurgent attacks already have prevented voter registration. The province includes the restive cities of Fallujah and Ramadi.

"They are kidding themselves," Rawi said about officials hopeful that the elections, set for Jan. 30, could take place in Anbar.

An Iraqi interviewed at the commission's office said the members had resigned and had gone into hiding….

-END-

From the informative and entertaining King Report:

There are two important stories in the Employment Report that are largely, if not totally, being ignored. Most importantly, wages increased only 0.1% (0.2% exp). Whatever jobs that are being created in this recovery have been largely in low paying gigs like leisure & hospitality, retailing, health & social services and government ( for the election in 2004).

Secondly, the CES Business Birth/Death Rate contributed 16k more jobs this Dec (78k vs. 62k last year). What evidence is there for 26% job growth in small businesses in Dec 2004? We see none. And anecdotal evidence, namely the past few months of economic data, shows an ebbing economy globally. Now the real story – The Chicago Tribune on Saturday noted that for the first 47 months of Bush’s reign, the US has lost a net of 122k jobs. If less than 122k jobs were reported on Friday, Bush would’ve been the first president since Herbert Hoover to have less jobs at the end of a term. If Hoover had the benefit of BLS chicanery, namely the Biz B/D Rate, he too like Bush, would’ve avoided job loss ignominy.

Bush’ job creation is even worse when one considers, as the Trib points out, that during Bush’s term the US population has grown by 12 million.

NY Times: "3.6 million American workers who ran out of unemployment insurance benefits last year, the most in at least three decades, said Isaac Shapiro, a senior fellow at the Center on Budget and Policy Priorities…As of November, about 1.8 million, or one in five, unemployed workers were jobless for more than six months, compared with 1.1 million when the recession officially ended in November 2001…Since the start of the recession in March 2001, the average length of unemployment has risen to 20 weeks from 13." http://www.nytimes.com/2005/01…obless.html?oref=login&th

NY Times Magazine: "What makes China so troubling for American and other foreign companies is that the country is both a potential rival, with an alternative legal approach to intellectual property that limits their prospects in China and weakens their competitive strength globally, and a haven for pirates and counterfeiters." http://www.nytimes.com/2005/01…FEIT.html?pagewanted=2&th

The Chicago Tribune ran a fascinating economic story in its "Arts & Entertainment" section on Sunday.

The article asserts that ticket fees for events have increased sharply and now account for as much as 47.5% of ticket prices. The Trib cogently, but ignorantly [of BLS consequences], notes that though fees are increasing sharply; the amount of service is declining sharply as people must use computers. Where is this accounted for in CPI? There should be a double whammy – higher costs and a negative hedonic adjustment. But we all know that there are only positive hedonic adjustments when it comes to CPI.

Earnings reporting season commences this week. Though there could be some nano-term positive reactions for bang-out earnings, overall the reactions should not be sanguine because The Street expects 2005 earnings to recede and inflation to increase. Ergo, disappointments in earnings and guidance will be punished; good news will have only an ephemeral effect…

-END-

JUST IN LATE:

Charlie McCarthy Snow is a man on a mission:

NEW YORK, Jan 10 (Reuters) - U.S. Treasury Secretary John Snow on Monday reaffirmed the government's strong dollar policy and said he would focus on fundamentals to support the dollar.
"We reiterate our long-standing policy. We're focused on the fundamentals of the economy," Snow told a press briefing at the Nasdaq Marketsite in New York.
Snow did not say, as he often has in the past, that the dollar's rate must be set by markets. His omission of this comment last Friday sparked a rally in the dollar.
Asked if administration policy would exclude the possibility of intervention to stem the dollar's decline, Snow said "I'd rather not speculate on what we might or might not do under different circumstances."

-END-

-Fed warns 'measured' rate action is not a pledge
By Alister Bull

WASHINGTON, Jan. 10 (Reuters) - The Federal Reserve has never pledged to hike interest rates only at a measured pace and is closely watching inflation, a top policy-maker said on Monday in a possible sign of faster rate moves than expected.

Atlanta Fed Bank President Jack Guynn, who votes at the next two Fed policy meetings as a stand in for the Dallas Fed, warned markets not to assume the U.S. central bank will continue raising interest rates in quarter-percentage-point increments.

"It is vital that we maintain the flexibility to respond with the best policy action that comes from each FOMC (Federal Open Market Committee) discussion, even if sometimes that has the potential to surprise some in financial markets," he told the Rotary Club of Atlanta.

-END-

Chief Executives' Confidence Declines Further, The Conference Board Reports

NEW YORK, Jan. 10 /PRNewswire/ -- Chief executives' confidence in the nation's economy, which had fallen to 63 in the third quarter of 2004, fell again in the fourth quarter, finishing at 61. A reading of more than 50 points reflects more positive than negative responses.
The Conference Board's quarterly measure of CEO Confidence covers nearly 100 CEOs in a wide variety of industries.
"CEO confidence has now slipped for three consecutive quarters," says Lynn Franco, Director of The Conference Board's Consumer Research Center.

-END-

Summary of this late news:

The Fed and Treasury are talking a big game here. Fixing deficits, raising interest rates more than expected, etc. Meanwhile, the economic news is modest at best. The stock market action is already wobbly. If this sort of perception catches on, look out below.

From a knowledgeable Café member who is outraged about the World Gold Council’s GLD, who continues to buy along with Goldman Sachs:

1/7 StreetTRACKS adds 11 more tons today!

Here we have it. The gold ETF we all wanted is obviously part of the gold CABEL and uses the ETF as a physical piggy bank to help the bad guys toss the gold prices too and fro. Of course, they have the help, support and insider information from their buddies at the ESF and the FED to make sure they are on the right side of EVERY TRADE!

The prospectus says GLD would "track the price of gold". I never saw in the prospectus the part about GLD INFLUENCING the price of gold!

WHERE IS THE OUTRAGE?

***