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Mix-Ansicht- Toll-wie jetzt rundum getrickst wird - R.Deutsch, 28.09.2000, 18:53
Toll-wie jetzt rundum getrickst wird
FUNDAMENTALS
The big story of the day was a John Berry Washington Post story blowing the whistle on the
Bureau of Labor Statistics. Here is the essence of the story:
Post: Inflation Higher Than Reported
WASHINGTON (Reuters) -"Consumer price inflation in the United States has been slightly
higher over the past year than officially reported because of a calculating glitch at the Bureau
of Labor Statistics, the Washington Post reported Wednesday, quoting government sources.
"The bureau was preparing to revise upward the change over the last year in its consumer
price index (CPI), the nation's most closely watched measure of inflation, the Post's John
Berry reported. He said officials notified the White House this week about the problem.
"The index is used by the government to calculate cost-of-living adjustments in Social
Security payments, veterans benefits and federal pensions.
"For the 12-month period ended last month, consumer prices rose 3.4 percent, partly due to
surging energy prices, while the core CPI, which excludes energy and food items, rose 2.5
percent…….." End.
Bloomberg followed up later in the day with:
By Michael McKee
Washington, Sept. 27 (Bloomberg) --"U.S. consumer prices rose 0.1 percentage point more
than previously reported from December to August because the Bureau of Labor Statistics
erred in calculating the cost of housing, the Labor Department said.
"The CPI rose a non-seasonally adjusted 2.7 percent in the eight months through August,
compared with a 2.6 percent rise first reported for that period on Sept. 15, the BLS said in a
statement today. The statement didn't include changes to the CPI's core rate, which excludes
food and energy prices.
"The revisions to the CPI correct an error recently discovered in the software used to
calculate the residential rent and owner's equivalent rent components of the index,'' the BLS
said.
"While the agency plans to announce other revisions to the CPI at 9:30 a.m. tomorrow,"the
general pattern of consumer price behavior this year was little affected,'' it said…….." End.
What a surprise to all of us in the Cafe. The real surprise will be if this is not just the tip of
the iceberg concerning a coming BLS/Clinton Administration scandal about government
market manipulation. As one Café wag put it;
"Looks like there are more people covering their tracks....maybe some officials worried
about a Bush win and then being put in prison for fraud...best to admit a few"mistakes"
now...I wonder when they will admit to the gold market"intervention"! End.
This IS big news for GATA. We have been saying for 21 months now that the government is
aiding certain bullion banks (or vice-versa) and orchestrating a manipulation of gold (holding
down the price) to mask the real inflation story.
The BLS says it was a computer glitch. How many of you believe that? How many believe
that this story would have surfaced before the November US elections if the Washington Post
had not broken the story? Does any one think this is all there is to the phoniness of the BLS
data? The same BLS that told the world that the CPI was down last month for the first time in
14 years - with energy prices soaring.
You can bet your bottom dollar that this story is only going to grow in scope. Senior citizens
receive monthly retirement income based on the CPI. The Republicans have been handed a
gift. One has to wonder how much the senior citizens have really been cheated out of by the
present administration when it comes to under payments. If the Republicans can't run with
this one, they do not deserve the White House and Capitol Hill.
As far as GATA is concerned, this is just one more nail in the gold cabal's coffin and shows to
what extent this administration will go to defraud the public. It also makes it easier for us to
explain to the public what the government has been doing to gold and why they have been
doing it. The gold story is very complicated. This is simple. The US Government is part of a
manipulation and rigging of the gold market to make inflation look less than it is. The BLS
numbers have been obviously rigged for some time now. That assertion is now fact. Gold is
even more rigged. That gold fraud is hurting people all over the world to the benefit of the
gold cartel. That fact will be known by the public all over the world in time - just as the BLS
flap is now.
While on the subject of flaps: another market rigging story. We used to get one every couple
of weeks. They are now coming my way almost every day:
FINANCIAL POST: NOMURA RECEIVES STIFF FINE FOR STOCK MARKET
SCANDAL BY JAMES MACKINTOSH
"Nomura International and two of its senior London staff have been heavily fined and
reprimanded by the British financial watchdog after it found they tried to rig the Australian
stock market.
"Nomura, the European arm of Japan's Nomura Securities, was yesterday ordered to pay
(ps)350,000 ($760,357), the second highest fine ever imposed by the Securities and Futures
Authority.
"The watchdog's action follows the success of a case against the investment bank by
Australian regulators, who said the bank had engaged in"misleading and deceptive
conduct." End.
From one of your CPA Café members:
"I just wanted to remind you that beginning in the 4th quarter, all banks and brokerages
(really all public companies) must report their derivative positions and mark to market their
gains or losses."
Goldman Sachs, et al: it is your gold derivative positions we are talking about here. Nowhere
to run, nowhere to hide.
ALERT: On this note Microsoft just announced it is going to take a $350 million charge due
to losses in derivative trading!!! FAS derivative disclosure has begun.
Good grief. Here is another scandal, a gold one:
Amsterdam, Sept 27 (Reuters) -"The Suriname Central Bank exchanged almost its entire
gold reserves for dollars, but finance ministry and central bank officials have no idea what
happened to proceeds, Dutch newspaper DeVolkskrant reported on Wednesday.
"Humphrey Hildenberg reportedly told parliament less than two percent remained of the
former 7,700 kilo of gold reserves Suriname once boasted.
"I don't know what happened to the money. It may be fraud. It many have been used by the
government, we just don't know," the newspaper quoted recently appointed central bank
president Andre Telting as saying. The proceeds could not be found on the central bank's
books, he said.
"The transaction took the form of a swap, in terms of which the state would be allowed to buy
the gold back within a certain time period, but Hildenberg said Suriname no longer had the
money to do so.
"It is obvious we can forget about the gold," Hildenberg said.
The swap took place during the presidency of Jules Wijdenbosch, who was voted out of office
in August this year, the newspaper said."End.
Swap, where have I heard that word recently.? Ah, yes, from President Clinton - about the oil
in the Strategic Oil Reserves. It is a swap. The oil is being taken out now to be replaced by
much cheaper oil later.
There are many morals to the stories in all of these reports today. They are all tied together -
scandals, disinformation, market riggings, swaps, missing gold, etc.
For two years now, GATA has been warning those that would listen that the most damaging
financial scandal in US history is going to surface because of what the gold cabal is doing to
the gold market.
The more that you read stories like these, the easier it has to be to envision what is on the
horizon regarding gold.
AND, THAT IS WHY I KEEP BRINGING ALL OF THIS TO YOUR ATTENTION!!
That old physics lesson: for every action, there is an equal and opposite reaction. The action
to hold the price of gold below its natural equilibrium price has been both considerable and
intense. The reaction will be just as formidable. That means an explosion in the price of gold.
GATA has not been traipsing around the world with its"GOLD DERIVATIVE BANKING
CRISIS" document for the fun of it. We did not go to Washington to tell the Speaker of the
House and the Banking Committee members about the gold derivative nuclear time bomb for
no reason. It is coming. If no one wants to do anything about it, so be it!
Rarely in history has been such an incredible investment opportunity from a risk/reward
standpoint. What a great buy gold and the gold shares are!!!!!!!!!!!!!!
MIDAS
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