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ARCHIVED DISCUSSION FROM 8/22/2001 All times are U.S. Mountain Time (Yesterday's Discussion.) BR549 (08/22/01; 23:58:11MT - usagold.com msg#: 60122) Panning for GOLD in Dahlonega, GA began in the 1820's I have learned some facts that I didn't know before on "GOLD" and reinforced some things that I did.An example of what I didn't know (believe me, it outnumbers greatly the things that I do know) from last night's episode was that Portugal and Spain by mutual agreement divided the new world into East and West. They put a line East of The Americas which went through South America and that is why Brazil speaks Portuguese and the remainder of South America speaks Spanish.What I learned tonight is the reason that the CA "Gold Rush" occurred in 1849 rather than when Gold was actually discovered in 1848. Slow communications was why Asia knew about our gold rush before the Eastern U.S. as news traveled faster from ships leaving the left coast for the orient and returning to the East Coast than directly East via overland. When the Eastern U.S. found about Gold almost a year later, the official U.S. gold rush began. I always thought that Sutter's discovery was in 1849. The fact that Sutter died a pauper is also an interesting fact.I already knew that Dahlonega, GA was way ahead of CA in the first gold rush because I had an Aunt who lived near there. I was in the computer industry as a Regional Director and had a "Boeing 727" strapped to my butt for years. I had 29 direct reports covering 13 states for a Fortune 10 computer vendor. My family life was being sacrificed by me for the pursuit of the almighty FRN. How stupid I was.When we did get a chance to do something as a family, we sometimes went to Dahlonega to eat at "The Smith House". Interstate most of the way to the mountains North of Atlanta, then two lane roads the rest of the way winding into the mountains. The little town of Dahlonega was at the end of the road. Most of the natives up there used to throw their "junk" out but due to the wanderings of the Atlantans who wanted to escape the hot summer heat and migrate to the mountains for a day or two, this "junk" became mountain antiques and the Atlantans hauled it down to the city by the trunk full.I don't know how long this Smith House (some would call it a restaurant) has been there but I know that their accompanying "rooming house" will take FRN's, all credit cards, or weigh your pouch in exchange for an evening's lodging.If you just want to eat, no reservations, and first come first serve for us ordinary citizens, politicians, shysters, and anybody else who "allegedly was important in Atlanta". You sit on the front porch in one of the dozens of "Brumby Style" rocking chairs, rock, enjoy the mountain air, and the conversation of those around you until it's your turn to eat.Food is served family style. For you "flat land fer-en- ners", as the mountain people call these daily invaders from the South, that means that you sit at huge long tables on the inside covered with plastic table cloths and share (and pass) to each other down the table some of the best fried chikin’, mountain speckled trout, BBQ, pitchers of sweet ice tea, (no booze), and vegetables in the world. The food is fresh, grown locally with nothing frozen, and brought to you by some of the nicest local food servers you would ever want to meet. Again you share conversation with those you have never met before, whether you want to or not. Maybe nothing new here yet, but maybe but when combined with the panning for gold tale, which is another story, is what makes the Dahlonega adventures something that our family will never forget.The town of Dahlonega was founded in the middle of gold country. Too long a post for now but if anybody is interested, there is more to the story. Thanks for reading this far. Old Yeller (08/22/01; 23:57:09MT - usagold.com msg#: 60121) Greenie's sheen is oxidizing http://www.vny.com/cf/news/upidetail.cfm?QID=213702 Is there anything that's been missed here?The recriminations are building,maybe people will finally wake up to the most pressing problem in the world economy.Central bank inspired meddling and subsequent yawning imbalances that are never addressed in a rational way. Black Blade (08/22/01; 23:21:45MT - usagold.com msg#: 60120) AGA defends surprise natgas storage revision http://199.97.97.163/IMDS%PMANAT0%read%/home/content/users/imds/feeds/writersdesk/2001/08/22/eng-powerm-000001/eng-powerm-000001_191520_25_1731252949685 Snippit:WASHINGTON, Aug 22 (Reuters) - The American Gas Association (AGA) stood by a surprise revision it made on Wednesday to its weekly natural gas storage report despite criticism about the accuracy of recent data. The bearish revision drove September natural gas futures on the New York Mercantile Exchange (NYMEX) to a 17-month spot low of $2.80 per million British thermal units, down 11 percent.Black Blade: AGA blows it. They can't ever seem to get the NG injection numbers right. No wonder then that I don't pay subscription to their service. Of course the data is all voluntary info from a few producers and many producers are not participants so the data is always suspect. However being off the mark by about 94% is really bad. I mean even government workers usually aren't that bad. I admit that I was surprised by last weeks data because it has been relatively mild weather is at a slack period prior to the fall and winter cold season. Black Blade (08/22/01; 23:03:59MT - usagold.com msg#: 60119) Papua: Police squad sent to guard Porgera gold mine due to influx of scavengers http://globalarchive.ft.com/globalarchive/article.html?id=010822004203&query=gold Snippit:A police mobile squad from Mt Hagen has been sent to Porgera to remove scavengers who are risking their lives to look for gold at the mine's dump. Highlands Divisional Commander, Assistant Commissioner Tony Wagambie, yesterday said Porgera Joint Venture (PJV) had asked for police assistance to remove those people as it feared that its gigantic trucks might run into them. Mr Wagambie said the scavengers are believed to be local villagers trying to recover the gold dust that can be found stuck to the crushed rocks which are dumped by the mammoth trucks. Not only did they risk being knocked down or crushed by the PJV trucks, they also risked being crushed by the large boulders perched around the top of the dump site.Black Blade: Risking life and limb for "Barbarous Relics." Hmmm… Black Blade (08/22/01; 22:24:20MT - usagold.com msg#: 60118) The 'Non-Recession' Has America in Denial http://www.msnbc.com/news/616100.asp?cp1=1 No one wants to mention the R word, despite ample evidence that the economy is getting weaker Snippit:Aug. 27 issue - Back in the late 1970s, Cornell University economist Alfred Kahn briefly oversaw the Carter administration's voluntary wage-price guidelines. Kahn was (and is) a jovial soul whose power and influence suffered from his stubborn candor and sense of humor. He once irked the White House by suggesting that rampaging inflation might lead to a recession or a "deep, deep depression"-an assessment that Carter's aides promptly disavowed. Kahn retreated and promised that, in the future, he would refer to a recession as a "banana." He later shifted to kumquat after a big banana company complained. WE ARE, IT SEEMS, now in a comparable situation. No one wants to utter the R word, because it signifies a symbolic threshold that, if crossed, might worsen consumer, business and investor psychology. The silence is rationalized by the popular convention of defining a banana as two consecutive quarters of declining economic output, or gross domestic product (GDP). This hasn't happened yet, unless the GDP statistics are revised downward-which is possible. But most other business indicators suggest that the economy is already in a banana, or soon will be.Black Blade: I said it or about a year now, and I will say it again - We are already in a banana - er - Recession! The article outlines it fairly well. Only a dunce could deny it. Knowing now statistics with dubious filters and avoidance of "anomalous data values" is abused in order to arrive at a desired outcome (self-fullfilling prophecies), it is quite obvious what is going on here. George Dubya does not want to take the fall, and Bubba Clinton has "split the scene." I would second MarkeTalk's admonition - get ya some! Gold and Silver insurance that is. This Recession will only get worse. There is absolutely no light at the end of the tunnel here. Layoffs are accelerating and earnings ratios are coming off recent highs faster than a high school girl's prom dress. Netking - I agree! Call this Act I. Netking (08/22/01; 22:06:39MT - usagold.com msg#: 60117) Black Blade IMVHO the Nikkei . . . it's my considered opinion that, "We aint seen nothing yet"! Kodak (08/22/01; 22:00:35MT - usagold.com msg#: 60116) no subject test test test BR549 (08/22/01; 21:52:32MT - usagold.com msg#: 60115) "A sea of gold" Is there any better description of the discovery of gold better than that? @ up-I Agree!So far so good with The History Channel gold series. The best (or worst) depending on how it is presented, is coming up (no pun intended).Thanks for a great link. These goldandsilvermines.com mines are pretty high priced real estate. The Fed, of course, has nothing to do with these mines having to be sold because of their unscrupulous manipulations of the POG and silver.When the Fed runs out of aces, these properties will become VERY valuable. Mining for PM's has to be amongst the hardest and most rewarding work in the world. Black Blade (08/22/01; 21:51:29MT - usagold.com msg#: 60114) Nikkei Tanks http://quote.yahoo.com/m2?u The Nikkei resumes it's plunge to sub 10,000. It is a race between the Nikkei and Hang Seng. Which will go sub 10,000 first? uponroof (08/22/01; 21:16:18MT - usagold.com msg#: 60113) GOLD! http://www.goldandsilvermines.com/all.htm Good Evening all,Well, I thought the 'GOLD!' segment tonight was again very good. I saw no evidence of negative gold spin, just a good history lesson on the part gold played in earlier societies. We even got a look at todays high volume/low grade operations which process tons of rock for ounces of gold. Again Blanchard ran an ad for numismatic coins, but the WGC was nowhere to be found.....not even an expert commentator tonight. Anglogold however was represented. Their expert commentator described the 'sea' of gold present under the South African countryside.If we are looking for an impact or result of this documentary, I'm thinking so far very positive......in fact...if the rest of the folks watching this are like me they are going out tommorrow, buying a metal detector, and driving to the nearest known (or rumoured) areas of gold to try their luck!btw-CLICK ON THE LINK ABOVE AND CHECK OUT THE GOLD MINES FOR SALE YOU CAN BUY RIGHT NOW! ONE FOR EVERY BUDGET! SOME OF THOSE MONTANNA DEALS LOOK MIGHTY TEMPTING!...(just dreamin')......Let's hope by the end of the series (Friday) they (the masses) are simply driving to their nearest gold dealer and buying GOLD coins. But watch out for Friday....that segment is called 'Cold Hard Cash'. If we're going to get a negative spin 'hit job'.....that'll be the segment.BR549...I'm pullin for ya pardner...;-) goldquest (08/22/01; 20:50:24MT - usagold.com msg#: 60112) White Hills Thank you! I have already gained from the knowledge that there are folks like you that are willing to share their good fortune with others! Your road is already paved with gold and I can only wish you all of the best. goldquest Waterboy (08/22/01; 20:45:45MT - usagold.com msg#: 60111) Cobra(too) - Caspian Sea Oil http://www.eia.doe.gov/emeu/cabs/caspgrph.html http://www.eia.doe.gov/emeu/cabs/caspian.htmlSo far, the Caspian Sea area has been a big disappointment. Originally touted to be in the same class as the middle east fields, in table I of the hotlink, it is stated that the proven reserves of whe entire Caspian area are only 18-34 billion barrels to contrast with the 600 or so barrels of proven reserves in the middle east fields. It is a large field, but more in the class of the north sea fields.There are significant political problems, and difficult transportation problems, as can be seen on the maps included in the un-hot link. The oil is also of inferior quality.Because of poor drill results and excessive hasseling with the locals, several majors have pulled out of this area altogether.Many reputable geologists consider the eia projections to be very optimistic.It would be lovely if oil from this area would bail us out, but it ain't gonna happen.Waterboy MarkeTalk (08/22/01; 20:32:45MT - usagold.com msg#: 60110) Counterfeit money to swamp European Union http://www.bloomberg.co.uk This article, the link to which appears in the left hand column of this website's Daily Quote page, is most enlightening. As if the change-over to the Euro won't be difficult enough, now add in the counterfeiters who plan on flooding the market next year. The truth of the matter is that there have been counterfeiters all along but they sit in the capitals of the various nations and have the force of law behind them. The article above refers to the illegal, garden-variety counterfeiters who will go to prison (if caught) for a very long time. Now what does this have to do with gold? Everything! I watch cycles which recur in markets on a periodic basis. And I have been reading about a 19-year cycle in gold which began in July 1999. The time from July 1999 to April 2001 has been one of pullback and consolidation. Since the April lows at 255, gold has been moving higher, albeit grudingly. But now considering the above story, it now makes sense why the next up cycle for gold has already begun and will accelerate between Christmas and next May/June. Can you imagine the chaos in the financial markets with real and counterfeit bills floating around? Now you can see why people will resort to the one and only true money--GOLD.Once again, I appeal to the reason and intelligence of my clients here at Centennial who read this site. If you have been thinking about adding to your positions, don't hesitate any longer. You have more than enough reasons (posted by me and other distinguished thinkers at this site) to motivate you. You have been sufficiently warned to take action.GC Netking (08/22/01; 19:54:11MT - usagold.com msg#: 60109) Excitement For REAL excitement in the days ahead . . . buy physical Silver . . . a.k.a. "how to have your cake and eat it too!" BR549 (08/22/01; 19:35:30MT - usagold.com msg#: 60108) Gold Prospecting White Hills (msg#: 60106)-Thanks 200,000,000 times. Kind’a like those ancient prospectors looking for millions via prospecting for gold back in the 19th Century on the gold channel, Huh? Some of my families fondest memories when we lived in Atlanta was going to Dahlonega, GA and buying some plastic gold pans and sifting through the sand hunting for some nuggets.Post the winning number when you get it. I'm excited. Thanks again. BR549 (08/22/01; 18:59:09MT - usagold.com msg#: 60107) GOLD! @ ALL--The History Channel NOW!auspec—"Say it aint so, Larry."Curley---It's so auspec. "Whoop! Whoop! Whoop! Nyuk! Nyuk! Nyuk! White Hills (08/22/01; 18:55:41MT - usagold.com msg#: 60106) BR549 Here is your number, Ticket 1E, Numbers 02-08-36-37-44 powerball is 38, Jackpot now 200,000,000.00 80% of all number combo's have been sold, good chance winner tonight. Went by Rosy's in Arizona. At least 110 cars parked in the desert with a line to get in. Good luck to us all. White Hills Solomon Weaver (08/22/01; 18:51:22MT - usagold.com msg#: 60105) (No Subject) http://www.plata.com.mx/plata/comHSP26a.htm http://www.plata.com.mx/plata/comHSP26a.htmSierra.....just read the post on silver coin for Mexico.....Imagine the impact if somehow the common family there were to try and save 1 coin per month....a little bit like Americans jumped on savings bonds.This example is exactly why I consider silver to be the poor man's gold.-----By the way...FWIW....I watched the rebroadcast of the History Channel Gold series starting at 11:00 last night and at the 50 minute commercial break there was a 30 second ad from Blanchard!!! Did anyone see that in their area???POS Poor old Solomon auspec (08/22/01; 18:47:54MT - usagold.com msg#: 60104) Midas: US Treasury Caught in Blatant Lie Note that the Federal Reserve's December 31, 1999 balance sheet shows a Gold Stock of only $11,048 million (see page no. 334), which is $41 million LESS THAN the $11,089 million reported as the total US Reserve Assets. Again, at the $42.22 per ounce price at which the asset is booked, approximately 1 million ounces of Gold is involved.The important point is that there is Gold in the US Reserve Assets report (for which its footnote says includes the ESF) that is not on the Federal Reserve's balance sheet. So there is only one possible answer to this discrepancy. This 1 million ounces of Gold must be a Gold transaction that was undertaken by the ESF. There is no other plausible alternative.As already noted, there are letters coming to GATA and others from the Treasury Department saying that there is no intervention in the Gold market by the ESF. So is the Treasury Department lying? Yes, the letters from Treasury are not truthful because this approximately 1 million ounce year-end 1999 entry in the US Reserve Assets must be an ESF intervention in the Gold market. There is no other explanation. ENDComment: What a shock! Say it aint so, Larry. Black Blade (08/22/01; 18:32:02MT - usagold.com msg#: 60103) U.S. stocks slide to April lows after Fed rate cut http://biz.yahoo.com/rf/010821/n21110787_2.html Snippit:NEW YORK, Aug 21 (Reuters) - Stocks tumbled to lows unseen since early April on Tuesday after the U.S Federal Reserve chopped interest rates for a seventh time this year, but gave Wall Street little hope the sluggish economy is rebounding. ``The Fed's comments suggest the economy is crummy,'' said Cummins Catherwood, who oversees $750 million for money management firm Rutherford Brown & Catherwood. ``The consensus used to be that the cuts kicked in after six months and here we are in month eight and they're not working.'' In the past, central bank easing was nearly guaranteed to give the market a jolt because investors anticipated lower rates would boost corporate profits. But the latest cuts are leaving investors cold as this year's earnings are forecast to show the worst decline in a decade. ``Everybody wants instant gratification for things to stabilize, but there's no reason in the world why it should occur this way,'' said Donna Van Vlack, head of trading of Brandywine Asset Management. ``You still have companies having big problems and you've got a lot of layoff announcements that has to be worked through. It's going to take time and patience.''Black Blade: DITTO! This is going to be one hell of a Recession. A few sleepers are beginning to wake up to the fact that we are in a deepening Recession. Black Blade (08/22/01; 18:25:13MT - usagold.com msg#: 60102) Fujitsu Moves Ahead With Cutbacks - Tech "Bones" http://dailynews.yahoo.com/h/6000/20010822/lo/890088_1.html Snippit:Fujitsu will lay off 250 Oregon jobs, despite news that Advanced Micro Devices will purchase part of its plant. AMD, a major Intel rival in the semiconductor industry, announced that it is buying half of the Gresham plant. The Fujitsu chip plant currently employs nearly 900 workers.Black Blade: High Tech "Bones" added upon the "Bone Pile." This deepening Recession will ensure that we will see the carnage get much much much worse. Black Blade (08/22/01; 18:19:54MT - usagold.com msg#: 60101) Number of Laid Off U.S. Workers Jumps - One Big Pile of "Bones" http://dailynews.yahoo.com/h/nm/20010822/ts/economy_layoffs_dc_1.html Snippit:WASHINGTON (Reuters) - The number of U.S. workers laid off from their jobs jumped nearly 44 percent in the second quarter of 2001 compared with the same period last year, the Labor Department said on Wednesday. Nearly 372,000 workers lost their jobs in mass layoff actions in April, May and June this year, up nearly 31,000 from the previous quarter and up more than 113,000 from the second quarter of 2000, the government said in its quarterly report.The number of laid off workers was the largest for the second quarter since 1998, when strikes at two General Motors parts plants prompted the major auto maker to shut down 27 of its 29 North American assembly plants, at one point idling more than 200,000 workers. For the first half of 2001, the number of laid off workers totaled more than 712,000, up nearly 40 percent from the first half of 2000, the government said.Black Blade: Dismal Recessionary economy leads to growing number of layoffs leads to lost consumer confidence leads to lower consumer demand leads to more layoffs leads to …. In a word - "GRIM" Time to load up and get in to the "Golden Lifeboats" as the "Perfect Storm" approaches. Mr Gresham (08/22/01; 18:14:31MT - usagold.com msg#: 60100) John Doe: Pigs Parable That was worth checking in for today, all on its own. As your contributions very often are... Black Blade (08/22/01; 18:10:35MT - usagold.com msg#: 60099) Tellabs to Cut 12 Percent of Jobs http://biz.yahoo.com/rb/010822/business_telecoms_tellabs_dc_5.html Snippit:CHICAGO (Reuters) - Telecommunications equipment maker Tellabs Inc. said on Wednesday it will cut about 12 percent of its work force, close two facilities and take a third-quarter charge as it moves to slash expenses amid reduced customer spending. The Lisle, Illinois-based company said it would cut 1,000 of its 8,400 jobs and close a manufacturing plant in Drogheda, Ireland and an office in Chelmsford, Massachusetts. The plant work will be consolidated at factories in Shannon, Ireland, and Espoo, Finland.Black Blade: Dem Bones - Dem Bones - Dem Dry Bones… Black Blade (08/22/01; 18:01:48MT - usagold.com msg#: 60098) Forbes Body Count http://www.forbes.com/2001/01/30/layoffs.html The "Bone Pile" grows somemore, soon to exceed 600,000. Black Blade (08/22/01; 17:56:09MT - usagold.com msg#: 60097) RE: CB2 - Caspian Oil Unfortunately I don't have the data handy right now, however, if I am able to find it in the "Paper Pile" I will get out more details. The Caspian Oil Fields are not playing out to all the hype. Simply put, recent published drilling results thus far have been somewhat disappointing.There was hope that this region would develop into a series of "Super-Giants." However, there are several drawbacks: 1) The majority of this oil is of low quality (sour crude) heavy crude which is expensive to extract and refine; 2) drilling results have been less than spectacular prompting Chevron to drop several prospects; 3) the Russians and the former Soviet Republics are not very efficient at exploiting these natural resources relying on antiquated technology, incompetent bureaucracy, cronyism, and dwindling foreign investment (in short they are inept fools); and 4) The political boundaries are a major obstacle as the proposed Caspian Oil Pipeline may never get built because of territorial disputes (i.e. Iranian and Turkish proposal vs. Azerbaijan-Armenian proposal, not to mention the territorial disputes from Kazakhstan and Turkmenistan). This is not to say that this region will be a major contributor of future oil supply - what it does mean is that it won't provide massive supplies of "Cheap Oil." Higher oil prices will be needed to draw out more oil from this region.Foreign investors have been badly burned by criminal activity (in and out of government) in this region and most reputable companies won't do business there. Even the natural gas supply is in question as when prices were higher and supply was tight, the Russians for example turned off the NG supply to their own people in the middle of winter in order to generate cash from European sales. Even so, there were numerous disruptions due to several NG pipeline explosions. I will try to locate more detailed material when I get a chance. Cheers!- Black Blade auspec (08/22/01; 17:50:37MT - usagold.com msg#: 60096) sector sez "More importantly GATA knows too---and they know much more that hasn't been revealed."This little snippet is out of sector's comments on post #60052. I have seen this mentioned repeatedly over the last few years from GATA........their hand is yet to be fully played. I know of no reason whatsoever to doubt they have a number of aces in the hole. Am more than ready to pick up a stack of chips, dammit! Tis time!auspec CoBra(too) (08/22/01; 15:42:50MT - usagold.com msg#: 60095) Re- Caspian Oil - What a shame finding oil in the sea hosting the best CAVIAR fish in the world. The sturgeon, already becoming scarce will sure become extinct in the exploitation of black gold... and grey gold (Iranian Caviar) will cost more than gold - ounce for ounce! cb2 John Doe (08/22/01; 15:25:18MT - usagold.com msg#: 60094) THE PARABLE OF THE PIGS by Steve Washam and based on a telling by George GordonThe Idaho ObserverSome years ago, about 1900, an old trapper from North Dakota hitched up some horses to his Studebaker wagon, packed a few possessions -- especially his traps -- and drove south.Several weeks later he stopped in a small town just north of the Okefenokee Swamp in Georgia. It was a Saturday morning -- a lazy day -- when he walked into the general store. Sitting around the pot-bellied stove were seven or eight of the town's local citizens.The traveler spoke, "Gentlemen, could you direct me to the Okefenokee Swamp?" Some of the oldtimers looked at him like he was crazy. "You must be a stranger in these parts," they said. "I am. I'm from North Dakota," said the stranger."In the Okefenokee Swamp are thousands of wild hogs," one old man explained. "A man who goes into the swamp by himself asks to die!" He lifted up his leg. "I lost half my leg here, to the pigs of the swamp." Another old fellow said, "Look at the cuts on me; look at my arm bit off!""Those pigs have been free since the Revolution, eating snakes and rooting out roots and fending for themselves for over a hundred years. They're wild and they're dangerous. You can't trap them. No man dare go into the swamp by himself." Every man nodded his head in agreement.The old trapper said, "Thank you so much for the warning. Now could you direct me to the swamp?" They said, "Well, yeah, it's due south -- straight down the road." But they begged the stranger not to go, because they knew he'd meet a terrible fate.He said, "Sell me ten sacks of corn, and help me load them into the wagon." They did and then the old trapper bid them farewell and drove on down the road. The townsfolk thought they'd never see him again.Two weeks later the man came back. He pulled up to the general store, got down off the wagon, walked in and bought ten more sacks of corn. After loading it up he went back down the road toward the swamp.Two weeks later he returned and, again, bought ten sacks of corn. This went on for a month. And then two months, and three. Every week or two the old trapper would come into town on a Saturday morning, load up ten sacks of corn and drive off south into the swamp.The stranger soon became a legend in the little village and the subject of much speculation. People wondered what kind of devil had possessed this man, that he could go into the Okefenokee by himself and not be consumed by the wild and free hogs.One morning the man came into town as usual. Everyone thought he wanted more corn. He got off the wagon and went into the store where the usual group of men were gathered around the stove. He took off his gloves and said, "Gentlemen, I need to hire about ten or fifteen wagons. I need twenty or thirty men. I have six thousand hogs out in the swamp, penned up, and they're all hungry. I've got to get them to market right away.""You've WHAT in the swamp?" asked the storekeeper, incredulously."I have six thousand hogs penned up. They haven't eaten for two or three days, and they'll starve if I don't get back there to feed and take care of them."One of the oldtimers said, "You mean you've captured the wild hogs of the Okefenokee?" "That's right" he answered. "How did you do that? What did you do?" the men urged, breathlessly.One of them exclaimed, "But I lost my arm!" Another cried, "I lost my brother!" "I lost my leg to those wild boars!" chimed a third.The trapper said, "Well, the first week I went in there they were wild all right. They hid in the undergrowth and wouldn't come out. I dared not get off the wagon. So I spread corn along behind the wagon. Every day I'd spread a sack of corn."The old pigs would have nothing to do with it. But the younger pigs decided that it was easier to eat free corn than it was to root out roots and catch snakes. So the very young began to eat the corn first."I did this every day. Pretty soon, even the old pigs decided that it was easier to eat free corn, after all, they were all free; they were not penned up. They could run off in any direction they wanted at any time."The next thing was to get them used to eating in the same place all the time. So, I selected a clearing, and I started putting the corn in the clearing. At first they wouldn't come to the clearing. It was too far. It was too open. It was a nuisance to them. But the very young decided that it was easier to take the corn in the clearing than it was to root out roots and catch their own snakes. And not long thereafter, the older pigs also decided that it was easier to come to the clearing every day."And so the pigs learned to come to the clearing every day to get their free corn. They could still subsidize their diet with roots and snakes and whatever else they wanted. After all, they were all free. They could run in any direction at any time. There were no bounds upon them."The next step was to get them used to fence posts. So I put fence posts all the way around the clearing. I put them in the underbrush so that they wouldn't get suspicious or upset, after all, they were just sticks sticking up out of the ground, like the trees and the brush. The corn was there every day. It was easy to walk in between the posts, get the corn, and walk back out."This went on for a week or two. Shortly they became very used to walking into the clearing, getting the free corn, and walking back out through the fence posts."The next step was to put one rail down at the bottom. I also left a few openings, so that the older, fatter pigs could walk through the openings and the younger pigs could easily jump over just one rail, after all, it was no real threat to their freedom or independence -- they could always jump over the rail and flee in any direction at any time."Now I decided that I wouldn't feed them every day. I began to feed them every other day. On the days I didn't feed them, the pigs still gathered in the clearing. They squealed, and they grunted, and they begged and pleaded with me to feed them -- but I only fed them every other day. Then I put a second rail around the posts."Now the pigs became more and more desperate for food. Because now they were no longer used to going out and digging their own roots and finding their own food, they now needed me. They needed my corn every other day.""So I trained them that I would feed them every day if they came in through a gate and I put up a third rail around the fence. But it was still no great threat to their freedom, because there were several gates and they could run in and out at will. Finally I put up the fourth rail. Then I closed all the gates but one, and I fed them very, very well.""Yesterday I closed the last gate and today I need you to help me take these pigs to market." CoBra(too) (08/22/01; 15:24:01MT - usagold.com msg#: 60093) @ BB - Caspian Sea Oil Fields? Seems to me, BB, that the Caspian Sea hosts one of the last mega oil fields to be developed globally. Unfortunately the borders of 5 neighboring states are not really defined and could easily lead to a messy war, which may not be contained in the immediate area, but could spread to the already explosive ME. As of now Russia, Kasachstan and Azerbeidschan seem to favor a borderline in accordance to their coast line, which would guarantee them 19, 29 and 21% of the prize; While Iran and Turkmenistan would only hold 14 and 17% respectively. The latter two, of course, favor a sectorial division guaranteeing each country an equal 20% of the bounty. The potential of these Caspian Sea Oil Fields are in the realm of the Saudi oil riches. International interests are already taking sides, according to their politics and so are oil multi-nationals, as cannon boats are already outnumbering tankers and rigs in the region. An explosive mix. Sir BB, maybe you could shed more light on this situation from a geological and economical point of view, as I may be able to analyse the political brew. Thank you - cb2 BR549 (08/22/01; 15:07:45MT - usagold.com msg#: 60092) Cash in without having to cash out Fox News Channel today giving advice on how to invest in gold without having to cash out. John Hathaway, of Tocqueville Gold Fund said his fund has had an 11% rise YTD. His favorite mining stocks are: Homestake, Newmont, and Placer Dome. Gold is no longer the Rodney Dangerfield of investments. Potential for big returns is there.Cavuto would have been fired had he done this report on GE Jack's PR Machine. Said that AG is "crazy" and "evil". At least Cavuto is honest. uponroof-Gambling evil? I run down to Biloxi, MS and visit the FRN's that I have in temporary storage in one of the Casinos. Lately, I have adding to the stored balance rather than withdrawing.Unfortunately, I don't have access to Power Ball living in the back woods standing guard with my Rottweiler over my storage. So feel free to use my 549 and we'll split the take 50/50. Good luck! site steward (08/22/01; 15:06:56MT - usagold.com msg#: 60091) Almost surreal... http://quote.bloomberg.com/fgcgi.cgi?mnu=news&ptitle=Bond%20Market%20World&tp=ad_uknews&T=news_storypage99.ht&ad=world_bonds&s=AO4QLqhXAVS5TLiBJ On the one hand, we have this news from Bloomberg announcing an increase to $14 billion for the Treasury's new borrowing to occur next week:----New York, Aug. 22 (Bloomberg) -- The U.S. Treasury increased its monthly two-year note sale slated for next week by $2 billion to $14 billion, as a shrinking budget surplus drives up borrowing needs. It will be the biggest monthly sale of the notes since the same quantity was sold in January 2000.----Bloomberg also reports that new short-term (four-week) Treasury bills which the government started offering weekly at the end of July had been increased in offer from $10 to $13 and may rise to $16 billion. Bloomberg says these bills hav raised "$44 billion of new money for the government" thus far. Interestingly, Blooberg also reports, "At the same time, the weekly three- and six-month Treasury bill sales haven't dropped off, something analysts expected. The short-term debt sales have amounted to $29 billion each week since July 23."That's a lot of borrowing for us here in Surplus Land.Meanwhile, we also have this report from Reuters today explaining how the Treasury is buying back debt.----WASHINGTON, Aug 22 (Reuters) - The U.S. Treasury Department announced on Wednesday that it will buy back up to $1.75 billion of government securities this week, continuing a program of using budget surpluses to cut its debt. The 16th this year in a series that Treasury says aims to take $28 billion of existing debt off the market by Sept. 30. [...] The operation date for the transaction will be Aug. 23 and the settlement date, when investors who turn in their bonds receive the cash for them, is Monday, Aug. 27.----Such a tiny little thing. Where are you investing your confidence?R. Sierra Madre (08/22/01; 15:03:19MT - usagold.com msg#: 60090) The Right Way to use Silver in Coinage http://www.plata.com.mx/plata/english.htm A discussion about how to use silver in coinage, in Mexico, in the light of certain proposals made recently.Sierra uponroof (08/22/01; 14:56:06MT - usagold.com msg#: 60089) BR666 Yo BR,Don't you know gambling is straight from the devil?The odds are 80 mil to one......a lot better than the creeps at the Treasury ever giving up capping POG voluntarily.Suggest you play all combos of 549....if you win I want 10%. BR549 (08/22/01; 14:44:36MT - usagold.com msg#: 60088) PBall White Hills (msg#: 60041)Is it too late to get in?They say the odds of winning are worse than getting hit by lightning twice on a sunny day but I like my chances.Thanks,BR Sierra Madre (08/22/01; 14:09:11MT - usagold.com msg#: 60087) Hoople: Ever looked at the Bonds and Shares of long ago? You said:"People who push paper assets will go togreat lengths to convince you it is worth more than a real asset or commodity." That's why Bond and Share certificates up to about WWI were so beautifully engraved and printed, with lots of gold decoration. The looks had to be very good, to convince investors to part with their gold. I especially like the "Chinese Imperial Loan of 1912". Spectacular.By the way, old Bond and Share certificates are very decorative, when suitably framed.Sierra site steward (08/22/01; 12:31:04MT - usagold.com msg#: 60086) Due diligence: Where are you putting your money? http://biz.yahoo.com/rf/010822/n22179294.html Is it being traded in and out of peril by someone as competent in his job as you are in yours where you earned it to begin with?The URL above gives some good insight about hedge funds.EXCERPT:---"There are a plenty of garages with computers in them out there," said Terrence Jones, managing director at Arden Asset Management, describing what some hedge funds grandly call offices. Arden, he said, does not invest with new managers.---With that in your head as you lie in bed each night, I wish you, "Sweet dreams..."R. site steward (08/22/01; 12:15:05MT - usagold.com msg#: 60085) No action yesterday in anticipation of rate cut; playing catch-up today With the target rate for overnight borrowing 25 basis points lower today, the Fed has been busy making money (that is to say, "printing" it, not earning it) for its banking constituents.Today the Fed added $10.903 billion to banking reserves through the open market operations of the NY trading desk.Of that amount, it added $653 millioin in permanent reserves through the outright purchase of U.S. Treasuries. Further, $5.75 billion were temporarily added using overnight repos, while another $4.5 billion were provided with 15-day RPs.Have you made your safe exit from the arena yet?R. R Powell (08/22/01; 12:07:41MT - usagold.com msg#: 60084) CNBC gold report A Jean Marie Eveillard of the 1ST Eagle Gold Fund was interviewed. He recommends only 2-3% of assets in bullion or coins as an insurance against losses elsewhere. He said there is "nothing to be liked among currencies today." When questioned about mining stocks he replied that owning them is a leveraged investment and that one should be careful to buy only unhedged or only slightly hedged companies. He also explained that hedged companies have sold not only their current stores but also the yellow still in the ground. When asked his opinion of the POG 6-12 months out, he smiled and said he hadn't a clue. Nothing of GATA or central bank selling or any outside market forces. Maybe someone's curiosity was aroused somewhere out there in investmentland. My thoughts? Two-three percent might be multiplied by ten or so. Enough to include some of the poor man's gold too. Rich The Hoople (08/22/01; 12:03:49MT - usagold.com msg#: 60083) Godman Sachs rubs rubes wrong way In today's WSJ (A-1, 1st column) is another story of the mis-deeds of Goldman Sachs. Montana Power Co. , in a stunning wrong way bet, was advised by Goldman Sachs to sell ALL of its power generation capacity and simultaneously invest ALL of it in fiber-optic networks. As they are now discovering they sold out just prior to the spectacular runup in power prices, and got in fiber-optics just in time for the stunning collapse. To make matters worse they have long term contracts locked in on power at low prices and are buying high priced power on the open market from PPL Corp. , the company that BOUGHT them. The stock, which once traded at $65 now trades for $7.90 (Sound familiar?) The total loss is over 3 billion dollars , a staggering amount for a relatively small utility. Goldman Sachs made over 100 visits to tiny Butte, Montana advising utility executives. Goldman will get 2.5% , or about $14.2 million for its "advice". A priceless quote is from Bob Gannon, CEO of Montana Power, who said, " There are a lot of suggestions in watering holes around this state that Goldman was flying around the west looking for a bunch of guys to dupe and that we were a bunch of rubes from Montana who got taken in. That's the stupidest thing I have ever heard". Wrong, Bob. The stupidest thing you ever heard was when Goldman opened their mouth. If anybody doubted Goldman's foray into Gold manipulation this should be yet another lesson. Whether it is gold mines or utilities, the lesson is the same. People who push paper assets will go to great lengths to convince you it is worth more than a real asset or commodity. Add utility workers and investors to the growing list of people being ruined by this Wall Street greed. Gandalf the White (08/22/01; 11:28:26MT - usagold.com msg#: 60082) Thanks, Cage Rattler !! It is a real pleasure at the USAGOLD Forum to be able to ask a straight question and get a straight answer to any question. Someone that either posts or LURKS here, has the answer to any question. All one must do is ask, and perhaps the answer will appear. MAGIC !!---<;-) Editor, The Gilded Opinion (08/22/01; 11:14:43MT - usagold.com msg#: 60081) ANNOUNCING - Marc Faber at The Gilded Opinion http://www.usagold.com/gildedopinion/Faber.html World-renowned investment contrarian and remarkably prescient prognosticator Dr. Marc Faber makes his first ever appearance at The Gilded Opinion today. For a thorough examination of today's investment climate, including his latest thoughts about gold, please visit the link above and read "When Something Doesn't Add Up" by Dr. Marc Faber. Cage Rattler (08/22/01; 10:50:05MT - usagold.com msg#: 60080) Gandalf...German Ifo was released at 8:00 GMT It was above expectations...though euro levels currently right back to where they were then... Gandalf the White (08/22/01; 10:21:44MT - usagold.com msg#: 60079) Please tell me what happened at 4 a.m. on this chart !!!!! http://quotes.ino.com/chart/chart.cgi?s=NYBOT_DXY0&t=f&w=1&a=1&v=s <;-) Tommy P (08/22/01; 09:59:53MT - usagold.com msg#: 60078) Looks good on corporations!! http://www.cfo.com/article/1,4616,0|83|AD|4655,00.html I hope they go after the CEO's.! Gold Trail Update (08/22/01; 09:25:52MDT - Msg ID:60077) The Gold Trail Discussion has been Updated The Gold Trail Discussion has been updated. Click on the link to read the latest updates. escapethematrix (08/22/01; 09:20:03MT - usagold.com msg#: 60076) Treasury Department Internet site responds to GATA's clamor http://www.treas.gov/opc/opc0007.html#gold%20markets Snippet:Tuesday, August 21, 2001 Dear Friend of GATA and Gold: Here's a hoot from a GATA supporter: * * * I don't know if you are aware of the publicity that GATA and Reg Howe have received on the U.S. Treasury Department web site. The following is a URL that will take you to their web page. They deny any involvement in manipulation of the gold market. Obviously, someone is worried. This site is good for a chuckle....The noose is tightening....They must be feelin' the heat. Cavan Man (08/22/01; 09:09:50MT - usagold.com msg#: 60075) Another IMF Success Story Argentina is the latest IMF Lotto winner. USAGOLD (08/22/01; 08:49:35MT - usagold.com msg#: 60074) Today's Commentary & Review Includes an Interesting and Revealing Graph on Seasonal Gold Demand http://www.usagold.com/Order_Form.html First timers must register to gain access to this private client report. Our regular clientele can go directly to the Commentary & Review page. Comments, point of view welcome.8/22/01 In Brief: Gold jumped sharply higher in Europe overnight as traders reacted to the latest rate cut and a weaker dollar. The euro moved to five month highs against the dollar on good results from the latest survey of business confidence in Germany. UBSWarburg reports short covering and fresh buying as driving the market overnight. The Australian Financial Review is buoyant on gold's prospects emphasizing gold's strong showings in the past when the dollar has gone into a period of decline:"The real beneficiary of the weaker US dollar was the gold market. On Friday it snapped up through $US280 an oz for the first time in three months, before closing around $US279.50 an oz. Gold and the US dollar have a close relationship. As the US dollar falls, gold rallies. As gold is traded in US dollars this inverse relationship should exist, if all else is excluded. But other factors, like central bank gold sales, interest rates and gold lease rates, do affect the gold price. Back in 1985 the US dollar triggered gold into a wild bull market. A number of traders are now hoping that 1985 will repeat itself. Then the US dollar collapsed and gold rose from $US300 an oz to $US500 an oz." We have seen a dramatic increase in the number of inquiries at Centennial Precious Metals/USAGOLD over the past several days. Most of the callers note that they are ready to move funds out of the stock market and into gold. Stocks continue to suffer from poor earnings results, the faltering dollar and weakened economic prospects in the United States -- not to speak of the fact that the air is being let out of the greatest equities bubble in history. A growing coterie of analysts -- especially those detached from the Wall Street equity firms and banks -- are beginning to call this a primary bear market. Yesterday's one quarter point cut failed to even slow-down the building negative sentiment in the stock market. Bear markets on average in the past have lasted from 12 to 15 years. Gold during equities bear markets has been a contra cyclical alternative where the investor could safely park funds for the interim -- a salve for the badly wounded portfolio. That understanding has carried over to this bear market. Many mention that their interest is fueled by gold being so undervalued.That's it for today. See you back here in a few days. MK- - - - - - - -'Tis the SeasonI have written intermittently about the summer gold doldrums and the chart below generously provided by Spectrum Commodities (please see link below) clearly shows the seasonality of gold demand. September usually marks the New Year for gold and this year promises to be a good one. . . . . . . .(MORE including interesting chart. . . . Go to Commentary & Review. REGISTRATION required. ) Mountain Top (08/22/01; 08:46:30MT - usagold.com msg#: 60073) Off the mark Tommy PThats easy, they lied. New administration, new lie. Centennial Precious Metals, Inc. / USAGOLD (08/22/01; 08:31:56MT - usagold.com msg#: 60072) Hard assets... Easy access! http://www.usagold.com/onlinestore/special.html
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