jpm+newmont fight from gold eagle

The below is posted for interest and discussion. Accuracy is un-known, and
source in also un-known, but interesting in view of the JPM-Newmont situation.
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Sent: Friday, May 23, 2003 12:09 PM
Subject: shares in hand? ///bgm

[ECON] Rumors of TEOTWAWKI

There are rumors (with some legs and truth to them) that Newmont Mining told
JPMorgan/Chase (the govt's banker and illegal activities agent) to go
'f#kthemselves' when JPM informed Newmont that it was raising margin requirements on a
hedged gold operation that Newmont acquired when it took over another gold
company.

The gold mine in question has 3 million ounces of gold estimated to be in the
ground. They sold, under contract, years ago, before being acquired by
Newmont, 3.7 million ounces of gold at a specific price which allowed JPM to use the
paper ownership of that gold to supress the price of gold during 2000 - 2002.

Now, JPM has told Newmont that they want more money for the 'hedge' on that
property. (as they are desperately trying to force the price of gold down below
certain levels.)

Newmont is playing hardball and told JPM, 'you want it, well, you got
it.....the property is yours.....have a good time trying to recover the gold in the
ground.'

This is significant in two ways:
1) the mere fact that JPM has initiated higher margin requirements on its
gold hedges shows how desperate they are (i.e. the gold price supression scheme
is collapsing around their ears).
2) that Newmont told them to go 'sh#tgoldbricks for all the money you'll get
out of us' means that the power that JPM had had in the past to intimidate
(mafia style) the gold industry has evaporated.

Further, for those who read French and German, the newsletters in Europe
today are making a huge deal about this as proof that JPM/Chase (and by extention,
Citi and BoA) are broke and underwater on 44 trillion dollars of derivatives
mostly keyed to the price of gold and interest rates. These various newsletter
writers are advising their readers to demand physical delivery of any shares
in any company which they bought through the
brokerages of these banks. Why? Well, so that they will actually be able to
sell the shares. They (newsletter writers) a re saying that once it becomes
known that the biggest bankruptcy in history is going to occur in June (JPM/Chase
is expected to start a cascading counterparty failure among the top 15 banks
in the US in derivatives based collapse), that any shares held 'in the
trader's name' will not be available for those who actually own them. The rumor being
that the bank is using those shares it holds in your name for their own
loans, shorting activities, and as collateral on other loans.

Be warned, TEOTWAWKI starts in June.

Look to Argentina to see what we face in the US of A.