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DRDGOLD Ltd. Message Board

  • jermarge2000 jermarge2000 Mar 31, 2003 2:54 PM Flag

    May Crude Tops $31.00/bbl

    It's the Dollar Stupid!

    If you are unclear on the machinations of the Plunge Protection Team, this article puts it in crystal clear perspective:

    http://www.gold-eagle.com/editorials_03/hultberg032603pv.html

    Excerpt >>>>>> The Fed prints up billions of dollars and slips them into an offshore bank account for say XYZ Investment Corp (which is established as a front for the PPT). JP Morgan and Goldman Sachs are then designated as the brokers for XYZ Corp to act as the funnels to bring the "new money" into the economy via the PPT's "market stabilization activities." Thus, there are unlimited funds for use to short gold, buy dollars, and buy S&P futures whenever the markets look to be in jeopardy. Whenever the offshore account runs low, the Fed merely prints up more money for a PPT operative to deposit into the account.

    Thus, the Fed and the Treasury accomplish two things that help them to keep their sinking ship afloat: 1) They shore up both the equity and dollar markets and put a cap on the gold market, and 2) they also inject billions of "newly printed" dollars into the economy, which helps them to counter deflation. The important point, however, is that the new dollars are injected into the economy SECRETLY! There is no public record of their entry like there would be if the Fed monetized the purchase of bonds through its open market operations. So the Big Government-Big Banking cartel gets to control the equity, currency and commodity markets, and it also gets to funnel billions of newly printed dollars into the economy without sending out an alarm to the world. In this way, the Federal Reserve can print money big time without causing a big sell-off of the dollar in the Forex markets and an exodus of foreign capital out of America. <<<<<<<<

    It is apparent that Gold will not have explosive moves until the PPT runs out of trees to print federal reserve notes with. Us goldbugs will have to go both long & short accordingly. We should have about 9 weeks up from this point. When gold begins to look overbought again, put some sell stops in GTC so that the decision will be automatic & painless.

    Cheers

 
DRD
2.70+0.11(+4.25%)Aug 28 4:03 PMEDT

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