Le Metropole Members,

Bill,

Yesterday I said:

QUOTE

With the financial world collapsing all around them one can only wonder why. Perhaps as the only porthole on the murky gold world they are trying to bluff it out!

Everything is just fine!

END

But today the news was announced that the FED and the Treasury are going to bail Fannie Mae and Freddie Mac. There was obviously no point in trying to keep up appearances any more this is all out debauchery of the US dollar. And in classic style Goldman Sachs did their version of the Three Musketeers mantra "All for GS, and GS for Us." In the July 14 session on the TOCOM Goldman Sachs took an F16 out of Dodge! They COVERED

1,475 short contracts to bring their net short position to 5,756 making this the LOWEST NET SHORT position they have EVER held in the 30 months since I have been tracking their position on a daily basis. This is VERY significant considering who the Treasury Secretary is ... the ex-CEO of Goldman Sachs! If Goldman Sachs is covering on the ONLY visible gold position that they have on the planet then investors should pay attention. The dollar is toast and gold is ready on the launch pad ... watch this space!

Cheers

Adrian