He recently opined that in an attempt to dissuade investors from owning gold, GS Commodity Index could do a repeat of last year's unloading of Unleaded gas from the index.
Only this time they could unload gold.
Last month one article stated:
Article
Now last year base metal prices has outperformed other commodities in this Indices and therefore to bring the value of base metals back into line with the volume-weighted Index, we have to see these funds temporarily as net-sellers in the base metal futures.
Adding to the conspiratorial ingredients was this news headline:
3 hours ago:
Feb 5 (Reuters) - Standard & Poor's, a division of publisher McGraw-Hill Cos. Inc. , said it will acquire Goldman Sachs Commodity Index <.GTX> from the Goldman Sachs Group Inc. (GS)
S&P will also acquire Goldman Sachs Sector Indexes and Goldman Sachs Technology Index, the company said in a statement. Terms of the transaction were not disclosed.
Remember this?:
Last Year's Headline: Goldman Sachs warns of $105 a barrel oil
Mar 31, 2005 -- NEW YORK (AFP)
But then we read:
"Unleaded gasoline made up 8.72 percent of Goldman's commodity index as of June 30, but it is just 2.3 percent now, representing a sell-off of more than $6 billion in futures contract weighting.
Goldman Sachs, which runs the largest commodity index, the G.S.C.I., said in early August that it was reducing the index's weighting in gasoline futures significantly."
Link: GS Sold $6 Billion in Unleaded gas futures.
Caveat: I don't know what I'm talking about, but if you see some funny stuff done with metals...
And just because I'm paranoid doesn't mean they're NOT WATCHING ME!
Edited by Rogerdodger, 06 February 2007 - 11:43 AM.
