I had no idea of the following story in the Globe and Mail when I sent out the prior MIDAS dispatch, mostly to follow up on Adrian's second day attention of Goldman Sach's COVERING their gold shorts on the TOCOM after stopping bullion in its tracks above $570.
These highly regarded Planet Wall Street Mafiosos are nothing more than than that. They have been the ringleader in the manipulation of the Gold Market for AT LEAST 7 years. They have made a fortune while ripping off gold investors.
So NOW, while they are aggressively covering their Gold Cartel short positions in Tokyo, they have the cajones to tell their clients to dump their longs. These type of people do not belong in America.
I dare these bums to sue me so we can get into Discovery over all their gold trades, off shore clients included, over the past 7 years.
Goldman Sachs Group Inc. is recommending that investors get out of gold and lock in their gains just two months after it suggested they buy.
On Dec. 5, the brokerage issued a list of its top trades for 2006, one of them being the purchase of gold futures for delivery in December 2006, priced then at $534.50 (U.S.).December gold futures settled Tuesday at $568.30 on the Comex division of New York Mercantile Exchange, which would have given an investor who followed Goldman's advice a return of 6.3 per cent over two months.Goldman said it recommended locking in gains because of fears that the price of bullion will slide.
"We have given back quite a bit of the profit since we entered the trade in early December, but are worried about the potential for the price to slide all the way down and have decided to exit," Goldman said.
Gold for April delivery - the most active contract -rose to $548.90 Tuesday. The yellow metal touched a 25- year-high on Feb. 2, then suffered its biggest drop in two years on Feb. 7. Monday's closing price of $542.10 for the current contract was the lowest since Jan. 5.
"Technically, yesterday's break of earlier February lows suggest further potential trouble as does the inability to hold the gains made after the bounce from that large decline," Goldman said. "The move below $545 is potentially troublesome."
The Goldman team noted that the seven remaining recommended trades for 2006 are all positive, led by an 8.9 per cent return from selling the New Zealand dollar short while buying the Brazilian real. Other Goldman-suggested trades include buying the Swedish krona verses the Norwegian krone, Japanese stocks over European issues, and the euro against a basket of the U.S. dollar and the British pound.
"At some stage, it is quite possible that we will recommend fresh tactical trades," the brokerage said.
The Secret Of The Universe / Alert From Adrian Douglas
Many years ago my colleague Chris Powell ranted that GATA had stumbled on the Secret of the Universe ... something so important that it would be coveted more than how to make a nuclear bomb.
I chuckled back then at Chris. Turns out he was RIGHT! There is no other explanation for the silence over Gold Rush 21, GATA's Gold Rush 21 DVD, and the stunning Credit Agricole/Cheuvreux gold report, which endorses GATA's findings.
What can Planet Wall Street and the US media be so afraid of that they will not even mention the word GATA, much less all of the above. It IS that BIG!
Anyone who has followed the MIDAS commentary from day one knows that GOLDMAN SACHS is the designated Hit Man for the white-collar thug Gold Cartel. The fun thing now is GATA's Adrian Douglas has put their nefarious price-capping routine right out there for the world to see.
The price of gold is going well beyond $2,000 an ounce. What we are going through now is a Mickey Mouse correction.
As a veteran trader of markets, I know that to make a fortune and go through corrections like this present one, you need to understand the fundamentals of what is going to happen and why. Read the Credit Agricole report at www.GATA.org. Watch the speeches of the world's finest when it comes to the precious metals at www.GoldRush21.com, by ordering the GATA Gold Rush 21 DVD for a pittance: $19.95 plus shipping.
GATA's Chris Powell is right. We DID discover the investing Secrets of the Universe. We know them. Do you?
The latest this evening from Adrian Douglas on the nefarious GOLDMAN "Hannibal Lecter" SACHS:
Bill, Well, whaddaya know? The Cabal head honchos, Goldman Sachs covered more shorts in the overnight session on TOCOM. They reduced their short position by 5278 contracts to 40,515. They left their long unchanged. Since Friday Feb 10 they have reduced their short by a staggering 12539 contracts. With covering like that this is certainly the bottom of this pullback. Gartman's talk of $500 is nothing more than that, Talk. He has obviously been fed a line by his well connected friends so that he could do the scaremongering to give an opportunity for the Cartel to cover. He himself has not gone short which is very revealing. First of all because if he truly believed that there was a $40 down move from here it would be an irresistible trade. But secondly, it probably indicates news from the inner sanctum of how difficult it is to cover shorts when the market "V" bounces in your face. If he knows the Cartel is struggling to cover, one would not willing volunteer to be in the trenches along side them trying to buy back some short positions! I sense it will be every man for himself very soon. There is no honor among thieves. Cheers Adrian
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