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Rothschild & Gold

By: David N. Vaughn, Gold Letter, Inc.

-- Posted Friday, 23 April 2004 | Digg This ArticleDigg It!

The following comments are dedicated to the announcement that N. M. Rothschild announced this last week concerning their exiting the gold market.


Is this good news or bad news? 


I suppose it is really in how you interpret it.  Personally, I believe they smell a scandal coming & higher gold prices around the corner & the Rothschild family will participate in no scandal.


Anyway, myself & others, also, believe the news to be bullish for gold!  Read the following comments below.

“LONDON, April 14 (Reuters) - NM Rothschild & Sons Ltd., the London-based unit of investment bank Rothschild [ROT.UL], will withdraw from trading commodities, including gold, in London as it reviews its operations, it said on Wednesday.”

“Why is Rothschild leaving the gold business at this time my colleagues and I conjectured today? Just a guess on my part, but suspect:”

*Something is amiss. They know a big gold scandal is coming and they want no part of it.  …”

*…the gold swaps/loans used to rig the price have about run their course – which means the gold market is going to blow up in the years to come.”

*The days of making money on the short side via lucrative hedging programs for producers, etc., is over.”  LeMetrople, 4-14-2004

The following comments below are from a commodities & gold trader.

“Approximately 10 years ago Merrill Lynch decided to get out of the commodity markets.  At that time I told our other brokers that this marked the bottom of commodities.”

“That prediction was spot-on.”

“Now comes word that the World Gold Council is closing half of its global offices and laying off most of its important analysts.  Not only that, but the venerable N.M. Rothschild, an old name in the world of gold dealing, was closing its gold trading operations.” 

“As Gartman (Gartman Report) said in response to this news... "This is the stuff of market bottoms, not of market tops... or at least that is what we have learned from the past when one 'cartel' after another ended operations after sustained periods of weakness in the commodity they were trying to defend and/or sponsor."  Baird Montgomery, Commodities Broker, 4-15-2004

And from the Desk of Nick Nicolaas.


The Macroeconomic Newsletter, Warren Pollock, April 15, 2004


“This move could mean the following; The political confidence of large wealth holders in the US fiduciary responsibility to global banking and governance through mutual interest may have been exhausted.”


Large money may be insisting that political change occur in the US.”


“Significant derivative problems could exist causing Rothschild to have exposures on lent gold that cannot be returned to central banks.”


“Rothschild may be acting upon intelligence it has via its political contacts regarding pending geopolitical threats which could include a wider war in the Middle East or the further isolation of the US.”


“1. Rothschild may be consolidating and accumulating positions in gold in

advance of a global financial collapse, or a US financial collapse.”


Yes, I believe the venerable Rothschild’s are making an exit to make sure they are no where around when the gold scandal comes.  In the past they have switched sides on issues when it was to their advantage.  And now this move is most appropriate for them.


I have to hand it to Bill Murphy for explaining it best the exit of N. M. Rothschild from the gold market:


“Rothschild wants out before the proverbial "S" hits the fan.”  Bill Murphy, LeMetropole, 4-18-2004


Anyway, gold is eventually going higher long term barring short term price fluctuations.  The gold game is becoming ever more interesting by the day.  And a game definitely not for the feeble hearted.

Last week we talked about the US involvement in Iraq & the sticky mess in the Middle East.  The following is an interesting comment on the subject from a reader.  



“When your definition of bringing democracy is that of having governmental policies acceptable to U.S. interests, there can never be an exit strategy. Someone must stay to protect the puppet.  The price for preventing democracy, or at least, domestic control, is eternal vigilance.”


“Remember that the American quagmire in Viet Nam began when the U.S. was unwilling to allow free democratic elections in a reunified Viet Nam by 1956, as had been agreed to in 1954.”


R. Carleton



The following email message is from a reader in Australia & a tribute to one mans son, “David Jeremy Stewart.”  Editor

Dear David


“…My son died in 1984 of leukemia after a two-year battle.  …”


“…My son who died aged 9.5 had called on the Lord at a young age circa 5 years old and had a sweet Christian faith.  …He had the worst possible type of leukemia and at diagnosis was given only a few months to live…”


“…  There was no complaint about all that he had suffered (the lumbar punctures, blood tests, radiation treatment, chemotherapy loss of hair etc).  For some weeks he had known the Doctors' verdict that he would die (unless God did a miracle).” 


“He did not even ask God for anything.  He just thanked God and told Him how much he loved Him.  …”


“Every hour or so he would regain consciousness and his pupils would contract to normal size and he would see me and weakly say "Daddy".  …”


“Just shortly before his breathing stopped, the pupils of his eyes came to normal size and he lifted his head off the pillow strongly in a way not-typical of the previous day or two.” 


“His eyes focused on a spot that seemed to be the junction of the ceiling and the wall, and with a triumphant tone of amazement in his voice strongly said, almost shouted, "Daddy!”


Mr & Mrs. Lex Stewart & Family, Sydney, Australia




Someone told me this week that watching your mother die is one of the hardest things you will ever do.


Well, I thought about this for a while.  Actually, watching my mother live these past several decades has been pretty hard also.  My mother was one wild, independent & untamed character & to try & keep up with her just wore a normal individual plum out.


A while back she decided to have a mid life crisis & went out & purchased a new black Saleen convertible.  This car is basically a race car built for the streets.  A short while later she & her sister were  heading to Mom’s condo on the beach in Florida when she spotted another Saleen on the interstate with a couple of teenagers inside that wanted to race.  She took the challenge & proceeded to race them at speeds of over 120 miles an hour. 

That was Mom. 


Nothing traditional about that woman.  And now we watch her lying on a hospital bed with maybe another hour or 24 hours of life left.  Cancer is tough & pancreatic cancer has to be the meanest & fastest cancer out there. 

First time I have watched a parent die.  But I know that death is part of the process of life & we are all of us marching in that direction. 


And I dedicate these thoughts & the memory of my mother to all of you out there reading this who are presently on this journey with one of your own loved family members or friend.  Just make sure you are personally ready for that final journey & that you know for certain where you are going.


Well, let’s go over one more time the fact that the House of Rothschild is SUPPOSEDLY exiting from the gold business. 


Read the following.

“Investment bank NM Rothschild & Sons Ltd is withdrawing from commodities trading in London. Rothschild’s main activities in the sector are precious-metals and oil trading, and include its position as chair of the twice-daily London gold fix.”, 4-15-2004

But now read the following.


“The group said it will maintain a strong presence in the natural resources sector through its advisory, project financing and corporate banking services, which provide the core of Rothschild’s revenue.”, 4-15-2004


I am afraid there are a few of you that did not quite grasp that last text so for you folks we will say it again.


“…will maintain a strong presence in the natural resources sector through its advisory, project financing and corporate banking services, which provide the core of Rothschild’s revenue.” 


Now what did the above text mean?


The venerable Rothschilds are not getting out of the banking business & as the text states, “project financing and corporate banking services, which provide the core of Rothschild’s revenue.”


Let me put it another way.


Yes, the Rothschilds are abandoning a “figure head” position within the gold market, but they will still remain a powerful banking institution providing money to the gold mining industry.  Yes, figuratively they “appear” to have departed the gold business, but in reality they will remain a powerful banking entity continuing to provide money & therefore controlling much of the gold mining industry.


Nice PR play, huh?


It always pays to read between the lines.  And the “lines” as I personally read them does not envision the House of Rothschild abandoning neither their gold nor their banks.


“Money comes & goes, but if you have the education about how money works, you gain power over it & can begin building wealth.”  Robert T. Kiyosaki & Sharon L. Lechter, CPA, Rich Dad/Poor Dad, 2000


Would you like to hear another secret that the “rich” understand, but the middle class never quite grasp?  Editor


“I often see people posting a sign in front of their house that says, “For Sale by Owner.”  Or I see on TV today many people claiming to be “Discount Brokers.”


“My rich dad taught me to take the opposite tack.  He believed in paying professionals well, and I have adapted that policy also.   Today, I have expensive attorneys, accountants, real estate brokers & stockbrokers.  Why?  Because if, and I do mean if, the people are professionals, their services should make you money.  And the more money they make, the more money I make.”


“We live in the Information Age.  Information is priceless.  A good broker should provide you with information as well as take the time to educate you.  …”


“What I pay a broker is tiny in comparison with what kind of money I can make because of the information they provide.  I love it when my real estate broker or stockbroker makes a lot of money.  Because it usually means I made a lot of money.”

“A broker is your eyes & ears to the market.  They’re there every day so I do not have to be.  I’d rather play golf.”


“The real skill is to manage & pay well the people who are smarter than you…”  Robert T. Kiyosaki & Sharon L. Lechter, CPA, Rich Dad/Poor Dad, 2000


My mother died this morning at 8:20 AM, Thursday, 4-22-2004. 

Her last hour we watched her breathing turn more & more difficult.  And then finally we watched her breath her last.  And the reason I share these thoughts is because everyone reading these words has lost a loved one or is in the process of losing a loved one.  And to you I dedicate these thoughts.


I used to love talking about money to mom.  She was a successful business woman who knew how to make a dollar.  Always good financial counsel from her direction.

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“Gold is not simply going to $480, it is heading into the final phase of this generational gold bull market to prices in excess of $1,500.” 

Jim Sinclair, 4-16-2004


How do you profit from gold? 



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David N. Vaughn

Gold Letter, Inc.

Gold Letter Website


April 23, 2004



Author/publisher does not trade stock of the company being followed for 30 days before & 30 days after an article is published.  Readers are advised that the material contained herein is solely for information purposes.  The author/publisher of this letter is not a qualified financial advisor & is not acting as such in this publication.  Gold Letter, Inc. is not a registered financial advisory.  Subscribers should not view this publication as offering personalized legal, tax, accounting or investment related advice.  All forecasts and recommendations are based on opinion. Markets change direction with consensus beliefs, which may change at any time and without notice. The author/publisher of this publication has taken every precaution to provide the most accurate information possible.  The information & data were obtained from sources believed to be reliable, but because the information & data source are beyond the author’s control, no representation or guarantee is made that it is complete or accurate.   The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.   Past results are not necessarily indicative of future results.   Any statements non-factual in nature constitute only current opinions, which are subject to change.    The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise.   Authors of articles or special reports contained herein may have been compensated for their services in preparing such articles.  Gold Letter and/or its affiliates may receive compensation & or stock options for the featured company’s right to publish & reprint & to distribute this publication.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities  & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.  

-- Posted Friday, 23 April 2004 | Digg This Article


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