le rapport Chevreux /credit agricole confirme en tout points les recherches et les données du Gata .. notamment sur la short position d'un minimum de 10.000 tonnes d'or du Cartel ..


Chevreux n'est pas n'importe qui .. c'est l'équivallent de la banque of america aux usa
c'est au niveau de la recherche financiere le number one en france, et le numéro 2 en europe occidentale !

inutile de vous dire le boucan que ce rapport va soulever en faisant le tour de la planéte ... aucune bc occidentale ne va pouvoir continuer sa stratégie de prêts si discrete aux goldman sucks et autres cartel members !! qui étaient déja pas mal dans la mouise ... mais la ils sont carrément très mal ...

le rapport originel est disponible ici en pdf ( ouverture avec le logiciel gratuit acrobat reader )

http://www.gata.org/files/CheuvreuxGoldReport.pdf


à ce sujet un excellent commentaire D'Adrian Douglas que je partage entièrement :

Citation:

Bill, I have read the Credit Agricole report TWICE. It is stunning. For GATAand its work to be mentioned so prominently by such a conservative banking establishment is mind blowing. To quote Schoepenhouer "All truth goes through three stages. First it is ridiculed. Then it is violently opposed. Finally, it is accepted as self-evident." Looks like GATA has reached the final stage. What a day for our camp! Cheers Adrian

résumé rapide du rapport :



"We are raising our mid-cycle gold price estimate to USD900/oz from USD750/oz and see the possibility of a spike to USD2,000, or higher. Covert selling (via central bank lending) has artificially depressed the price for a decade.
"Central banks have 10,000-15,000 tonnes of gold less than their officially reported reserves of 31,000. This gold has been lent to bullion banks and their counterparties and has already been sold for jewelry, etc. Non-gold producers account for most and may be unable to cover shorts without causing a spike in the gold price.

"There is a supply deficit in the gold market of around 1,300 tonnes per year before any central bank selling and perhaps 700 tonnes per year after 'official' sales but before covert selling. This compares with world gold mine output of only 2,500 tonnes per year. Some central banks, notably Russia, are starting to buy gold.

"Gold acts as an early warning of potential crisis such rising inflationary/deflationary pressures and general confidence in paper currency, especially the U.S. dollar. A strongly rising gold price could have severe consequences for U.S. monetary policy and the U.S. dollar. History suggests that gold always wins against an inflating paper currency (that is, one subject to excessive supply growth).

"Gold and gold mining stocks are poised for an unprecedented rise in prices and profile. Investors in UK/European equities need to assess the implications for their portfolios. ..."

_________________
Pépite Bull

le site de Tim Wood , longtemps détracteur du Gata relaye en détail ce rapport Chevreux qu'il faut absolument lire !!

http://www.resourceinvestor.com/pebble.asp?relid=16712

Paul Mylchreest, auteur du rapport Chevreux de janvier 2006, actualise son topo .
il travaille désormais chez Redburn Partners à londres .
son rapport titré, Gold WAR ( la guerre de l'or )confirme et cite les travaux du Gata sur l'intervention des BC sur l'or et conclue que la plus grande bulle de l'histoire sera purgée

- soit par une récession déflationniste
- soit par par une récession inflationniste, due à la dévalorisation des monnaies à vitesse gd V( l'hélicoptére de Ben )

http://www.gata.org/files/RedburnPartnersGoldReport_11-12-2007.pdf

pour lire le commentaire de C Powell en vo, cliquez ici

c'est au tour d'une banque autrichienne de plancher sur gold market... et de faire le même constat

Austrian bank's gold report cites market manipulation


Submitted by cpowell on Thu, 2009-07-02 19:34. Section: Daily Dispatches
3:30p ET Thursday, July 2, 2009
Dear Friend of GATA and Gold:
Erste Group Research, a division of Erste Group Bank AG in Vienna, Austria, has just published a 53-page special report on gold that includes a section on manipulation of the gold market. This section seems to have been heavily influenced by GATA's work.
Under the headline "Is the Gold Price Subject to Manipulation?," found on Page 39 of the report (and Page 40 of the Adobe Acrobat reader), the Erste Group report says:
"The intraday movements have been showing an unusual pattern for many years now. In the early hours of Asian trading, the gold price tends to go up. Conversely, the afternoon fixing in London tends to trigger a downhill ride, which finds itself offset only partially in the New York session.
"The extreme concentration of futures positions seems particular as well: Currently three U.S. banks are positioned net short to the tune of 12.3 million ounces. This is equal to more than 15 percent of global production.
"In a speech in July 1998 Alan Greenspan addressed this context, saying that 'central banks stand ready to lease gold in increasing quantities should the price rise.'
"The article 'Gibsons's Paradox and the Gold Standard' by Lawrence Summers, currently chairman of the economic advisory board of President Obama, is another example. In this article Summers explains the connection between low key lending rates and the gold price.
"Paul Volcker, former chairman of the Federal Reserve (1979 to 1983) and currently a member of the economic advisory staff of President Barack Obama, pointed out, 'Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.'
"And James Mofett, CEO of Freeport McMoRan, said, 'The central banks are the OPEC of gold. They will control the price of gold by selling until they change their minds.'"
You can find the report at the Erste Group Internet site here:

http://produkte.erstegroup.com/CorporateClients/en/ResearchCenter/Overview/Research_Detail/index.phtml?ID_ENTRY=752

Or try this abbreviated link:
http://tinyurl.com/lle54d

Arriving at that page, to open the report you'll have to click on the tiny Adobe Acrobat PDF emblem a dozen lines below the headline "Research Detail."
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.