The following which pertains to the Barrick - Morgan matter is an extract taken from Sinclair's latest article on Financial Sense Online.
The full article can be found at http://www.financialsense.com/metals/sinclair/vip/2002/1219.htm ****************************************** Heads Up
Important Communication to Gold Community by James E. Sinclair
This is the second time, only, that I have asked that an important memo be communicated immediately to the community because of my feeling of its importance. December 19, 2002
The gold price has appreciated over night. Much of the present activity is fundamentally based on the announcement of the filing of a law suit by the largest coin dealing company in the United States against a major gold producer derivative (over the counter variety) hedger and JP Morgan Chase (JPM). This suit claims that there was collusion in manipulation of the gold price for profit, not in the best interest of the public or their specific public.
Just as when many members of the gold community were in their dark night of the soul when gold was hitting $298 - $305, I am once again making a call to Sanity and Professionalism.
STAY DISCIPLINED
TAKE PROFITS INTO STRENGTH
SANITY CHECK LIST:
All professional traders in gold know, without any doubt, that the Comex market is Manipulation Central and has been for years. To deny that is not to demonstrate wisdom, but rather to admit that you do not understand the difference between a fiduciary executing an order and a floor showman/woman being dramatic in order to affect a price level. The perspective between manipulation and stabilization is in the eyes of the beholder.
The US Jurisprudence system has flaws.
Those flaws are called influence, even if just the credentials of the accused.
US Jurisprudence is a game of who has the most money and the best talent. Anyone recall OJ?
Blanchard & Company has, to my knowledge, approximately $20,000,000 budgeted for this from a previously sealed settlement of a suit.
One defendant alone in this case has a treasury of over $750,000,000.00 and would spend it all if required to defend.
The defendants will use the absolute best attorneys available for this type of action that practice in the US. A dream team is now being assembled.
Patrick Garver of ABX, who will direct that Dream Team counsel for ABX is one of the toughest, roughest, smartest attorneys in North America.
