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ARCHIVED DISCUSSION FROM 3/15/2006 All times are U.S. Mountain Time (Yesterday's Discussion.) Topaz (3/15/06; 23:04:34MT - usagold.com msg#: 142480) Silver. http://www.geocities.com/arthurcutten/jesse.html 2 contract equivalents got done yesterday with 600 odd still open ...things lookin good for a run in Ag here and hopefully Au will go in tandem.Linked is the "front-door" of Jesse's site, too good to miss on the way to his Silver Chart, enjoy! Congrats also to the Comp winners, Gandalf and CPM USAGold. Smeagol (3/15/06; 21:38:27MT - usagold.com msg#: 142479) M3 To Remain? - can they DO that? ...sstolen - er, borrowed from a post in the GIM forum (thanks you Jeffs47)... Ron Paul wantss to force the Fed to keep publishing M3...-----Sunshine in Monetary Policy Act (Introduced in House)HR 4892 IH109th CONGRESS2d SessionH. R. 4892To require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate, and its components, and for other purposes.IN THE HOUSE OF REPRESENTATIVESMarch 7, 2006Mr. PAUL (for himself and Mr. JONES of North Carolina) introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate, and its components, and for other purposes. * Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. * This Act may be cited as the `Sunshine in Monetary Policy Act'. SEC. 2. M3 MONETARY AGGREGATE REQUIRED TO BE PUBLISHED WEEKLY. * (a) In General- Notwithstanding the announcement by the Board of Governors of the Federal Reserve System on November 10, 2005, the Board of Governors of the Federal Reserve System shall continue, after March 22, 2006, to compile and to publish on a weekly basis the measure of the M3 monetary aggregate and the components of the M3 that are not included in the measure of the M2 monetary aggregate. (b) M3 Monetary Aggregate Defined- For purposes of this section, the term `M3 monetary aggregate' means the inclusive measure of money compiled by adding the following: (1) M1 COMPONENTS- Currency in circulation (plus traveler's checks), demand deposits, Negotiable Order of Withdrawal (NOW) accounts, and similar interest-earning checking account balances. (2) THE NON-M1 COMPONENTS OF M2- Household holdings of savings deposits, small time deposits, and retail money market mutual fund balances (exclusive of balances held in IRA and Keogh accounts). (3) THE NON-M2 COMPONENTS OF M3- Institutional money market mutual fund balances and managed liabilities of depositories consisting of large time deposits, repurchase agreements, and Eurodollars.-----S. Smeagol (3/15/06; 21:29:04MT - usagold.com msg#: 142478) And we thought OUR guess was low at the time... Applauses and congratulations to the Contesst Winners! ~8-)S. Goldilox (3/15/06; 21:25:59MT - usagold.com msg#: 142477) Welcome back @ Physicalman,Welcome back. Enjoy the Chevy. I bought a C4 'vette for my 50th birthday, and never regretted it.As for your gold/silver ratio, only you know what's best. Search your heart and keep a lot of both handy. Black Blade (3/15/06; 20:51:30MT - usagold.com msg#: 142476) Ides Of March It was an interesting contest with a wide range of movement as we saw the influence of volatility in currencies, geopolitical concerns, and a "current account deficit" that is out of control. My price guess was well short or as Maxwell Smart would say - "missed it by that much". Congratulations to the winners. Also - Good to see you are well physicalman.- Black Blade goldquest (3/15/06; 20:45:40MT - usagold.com msg#: 142475) @physicalman Nope, you don't need to feel guilty about treating yourself to a few of life's pleasures.You answered your own question, "dang near died," should tell you that none of us know what the future holds.Do something good for others but don't deny yourself in the process.Welcome back and all the best!Also, congrats to the contest winners and mucho thanks to MK and crew and of course to Gandy for another fun contest. physicalman (3/15/06; 19:43:37MT - usagold.com msg#: 142474) (No Subject) HOWDY EVERYONE! I'm finally recovered from being very ill for almost 3 months, dang near died, so life is very good right now. R. Powell good to see you posting again, did ya get to pour more concrete this winter with the temp. up? Hope so so ya can buy more shiny yellow and white. DANG! i missed the contest. oh well, no biggie as i always bid high unless the invisible hand shows up with his bid first. Got a question for the other posters here, tell me if you think i made a mistake. Took and sold 7k oz. of ag few weeks ago when it busted 10 dollars and bought me 2 of them ssr's that chevrolet makes, kind of a hot rod pick-up. I am a serious tightwad and never have bought a new car before and got 11k off of msrp on em and got me a red one and a yellow one. I really like the vehicles but am feeling super guilty about it too. If ya'll let me have i won't get mad as i respect everyones opinion here very much. Think gold will break 625 by april 10th and silver will crack 11 bucks by then too. The ides of march effect may have been off target by a few weeks. thanks mike P.S. If silver cracks 20 bucks an oz., should i take some off the table and convert more to gold or t-bills and if so, in what ratio? All my silver holdings are in physical form. Golden Lionheart (3/15/06; 18:15:33MT - usagold.com msg#: 142473) Forged Notes..... Please read note and not not in my posting earlier. I have only one eye that works properly and often make silly typing mistakes. I am also "one eyed" in my love for gold! Golden Lionheart (3/15/06; 18:11:01MT - usagold.com msg#: 142472) POG Competition G'day Sundeck..............We will triumph next time! I certainly wish you had won it but that price will be seen again in the next few months I am sure. Golden Lionheart (3/15/06; 18:06:32MT - usagold.com msg#: 142471) Bogus notes From the West Australian newspaper today....Quote "Authorities have seized 250 bogus US Federal Reserve promissory notes each bearing a $US1billion face value in a Los Angeles apartment. The notes dated 1934, were treated to look old, investigators said. The highest Federal Reserve not ever issued was $US100,000" unquote Sundeck (3/15/06; 18:00:35MT - usagold.com msg#: 142470) POG competition Wha!! Why wasn't gold propelled to $587.0 as I predicted #142183 ??? What happened to Caesar's Ghost? It was supposed to show-up on the Ides and spook the market??Ohhhh...I see...Caesar's Ghost was working on the Julian Calendar (not surprising, I suppose) and Sundeck was on the Gregorian Calendar. That means that Caesar's Ghost is hovering in space about 15 days around Earth-orbit from where Earth is at the moment... Dang! Why didn't I think of that at the time? Oh well...expect POG to go to $587 in about 15 days time....sigh!!..........................@Golden Lionheart #142185....Close, but no cigar, good Sir!Congratulations to the winners...:-( PRITCHO (3/15/06; 17:38:22MT - usagold.com msg#: 142469) Snip 2 -- Richard Russell - - - - Latest Comments March 15th, 2006 http://ww1.dowtheoryletters.com/DTLOL.nsf What about Silver ?Snip 2 :Mr. Russell,I have been following your periodic essays for some time and have great respect for your opinion. My sense is you're right to suspect that "the primary bear" may be stirring from his cave. My one question, if you've a mind to offer an opinion, is this: In the event that the bear does come roaring back, what about silver? You suggest safe haven in T-bills and gold bullion. Does that include silver, which to date has seemed tethered, if loosely, to gold? Is silver money too these days, in the mind of the masses and the money managers?If you are too busy to respond directly, perhaps you could touch on this question in a future essay.If you do,I would be most grateful for a heads-up.Thank you, John DummerRussell Comment -- No central bank holds silver today, so in a way you can say that silver has been demonetized. Silver has a long history of being a precious metal, but only during precious metal bull markets (as now).I believe the debate is basically worthless. Right now there is a shortage of silver, and the fact is that since August 2005 silver has clearly been outperforming gold. The classic ratio is for one ounce of gold to buy 17 ouncesof silver. But this ratio has been as high as 100 -- it is now 54, meaning that one ounce of gold will buy 54 ounces of silver.I'm not greedy. And I just feel safer with gold. So let silver outperform gold, I'll probably stay with gold. If the silver ETF is ever approved, I might buy some shares, but I'm perfectly happy to remain in gold. PRITCHO (3/15/06; 17:30:57MT - usagold.com msg#: 142468) From Richard Russell - - - - Latest Comments March 15th, 2006 http://ww1.dowtheoryletters.com/DTLOL.nsf SNIP:Therefore, my eyes are continually on the US dollar. Sure, I sell subscriptions for dollars, I pay my bills with dollars, I read in Forbes magazine this week about people who have billions of dollars -- and I keep wondering how long the dollar will be accepted as money. Can fantasy money last forever? Honestly, I don't see how it can.Now here's an amazing situation. Below we see a point and figure chart of the US Dollar Index. I've shown this chart a few times before. Let's not kid ourselves, this is a potentially powerful chart. What we see here is an impressive base being constructed. And frankly, I kept thinking that the Dollar Index was going to surge out of this huge base. But that hasn't happened yet. In order to break out, the Dollar Index would have to hit the 93.00 box. That just hasn't happened yet. What would turn this pattern bearish. The Dollar Index would have to decline to 88.00. That hasn't happened yet. So this beautiful base just sits there. No breakout to the upside, no break to the downside. Yet the world continues to accept US dollars. US prosperity absolutely depends on the world accepting dollars. And that's OK with me, but just in case the fantasy dollar-bubble bursts, I want to have real money -- gold. And I er, expect that somewhere ahead the rest of the world will start agreeing with me. Wait, they already are beginning to agree with me. How do I know? Rising gold in dollars is telling me so...The bull market in gold is telling me the real story. TownCrier (3/15/06; 16:51:34MT - usagold.com msg#: 142467) Dubai's gold imports substantial http://www.gulfindustryworldwide.com/Articles.asp?Article=4298 Dubai imported 522 tonness of gold in 2005, up from 502 tonnes in 2004, according to a recent statement from the Dubai Metals and Commodities Centre (DMCC).The figure is substantial considering that a recent report by GFMS, an independent London-based consultancy and research company focused on international gold and silver markets, had estimated that the world gold supply averaged 3,997 tonnes in 2005, meaning that one in every eight tonnes of gold supplied in the world comes to Dubai.The increase in imports of gold to Dubai took place despite the overall increase in gold prices, which reached 25-year highs in 2005."Dubai is known as the City of Gold, and these statistics support that," said Colin Griffith, executive director, gold and precious metals, DMCC. "The rising price has been driven by investors who look at gold as a secure asset class, rather than by end users, despite a steady growth in consumer demand from China and India," he added."Demand from the Middle East has also witnessed an average annual increase of five to 10 per cent, backed by high regional liquidity and the security of gold as a stable asset in uncertain times," he added."The establishment of the DMCC has gone a long way towards streamlining and making the local markets more transparent and thereby growing the volume of gold trade through Dubai. We estimate that the current volume of 522 tonnes will continue to increase in 2006.""Recent research and estimates for 2006 envisage that the surge in gold prices is expected to continue over the year with prices remaining very volatile and probably touching $600 an ounce," he added.^---(from url)---^Shall likely provide for a significant pricing benchmark when, as the only actor on the world stage, Saturday and Sunday trading commences in the days ahead.R. USAGOLD Daily Market Report (3/15/06; 16:35:30MT - usagold.com msg#: 142466) Page Update! http://www.usagold.com/DailyQuotes.htmlThe Daily Gold Market Report has been updated.If you are considering investments in gold we invite you to request our free introductory information packet detailing the products and services offered by USAGOLD ~ Centennial Precious Metals. We welcome your inquiry and look forward to working with you.WEDNESDAY Market ExcerptsMarch 15 (from MarketWatch) -- Gold prices closed higher Wednesday to tally a three-session gain of $13, finding support from weakness in the U.S. dollar, concerns over Iran and expectations for higher gold consumption from India."A weaker dollar, continued geopolitical concerns, weak government data, and higher oil prices have all been factors that have pushed gold higher in the last several days," said Emanuel Balarie, a senior market strategist at Wisdom Financial.COMEX April gold futures climbed as high as $558.30 before closing at $554.40, up $1.40 at its highest session-ending level since March 7.The dollar weakened against its major rivals Wednesday, hitting a fresh one-week low versus the euro, after a Treasury report showed capital inflows failed to cover the record trade deficit of the corresponding month.Balarie expects fundamental factors and the "continually high oil prices" to eventually pass through to the core CPI numbers, he said.Until then, he expects gold to trade between the $535-$570 range. "A sharp move up in oil and a sharp sell off in the dollar could also push gold to the $600 level."And over in India, consumers are "still waiting for lower prices, not happy with this volatility," said Julian Phillips, an analyst at GoldForecaster.com. But "as the [Indian] wedding season gets underway in earnest one wonders how long it will take an irate mother to push a cautious father into buying," he said.---(see url for full news, 24-hr newswire)--- R Powell (3/15/06; 14:55:47MT - usagold.com msg#: 142465) Goldilox Hyperbolic expansion? Well all right then. I've checked everything and I believe I'm ready. Maybe you should give another warning call for those who may have missed yesterday's post? After that, please start at your convenience. Congrats to the contest winners!! TownCrier (3/15/06; 14:45:01MT - usagold.com msg#: 142464) Short & (not) Sweet... Dollar slips after US capital flows data http://yahoo.reuters.com/news/NewsArticle.aspx?storyID=urn:newsml:reuters.com:20060315:MTFH99081_2006-03-15_14-12-39_NYJ000026&related=true&rpc=44 NEW YORK, March 15 (Reuters) - The dollar slipped back toward the lower end of intraday ranges on Wednesday after the release of data that showed capital inflows into the U.S. in January failed to cover that month's record trade deficit.The U.S. Treasury said on Wednesday that net capital inflows in January were $66 billion, just short of that month's $68.5 billion trade deficit.It was the second consecutive month net inflows failed to cover the trade deficit.^---(from url)---^Elsewhere in a more comprehensive article on the Treasury's International Capital monthly report, Reuters says, "Net foreign purchases of U.S. Treasury bonds and notes slowed to a much smaller-than-expected $4.4 billion... the smallest level of Treasury buying since net sales of $3.2 billion in February 2003, according to a Treasury official."Signs that the appetite for U.S. bonds has finally grown stale?If you're not diversified ahead of time, you're not diversified at all.R. canamami (3/15/06; 14:31:19MT - usagold.com msg#: 142463) Response to Ned The article basically describes the plan, and interviews observers with different opinions. A good intro piece to the Iranian bourse plan. One observer points out the Russians have been charging for their oil in euros for quite a while, although the oil is priced in US dollars. TownCrier (3/15/06; 14:17:12MT - usagold.com msg#: 142462) A nice summary overview by Julian Phillips http://news.goldseek.com/AuthenticMoney/1142438640.php TITLE: The Global Monetary System, Gold & Oil --1971 Until The Future-March 2006-(excerpts)In 1971 Nixon closed the gold window on the $ and turned the European nations away from redeeming Eurodollars into gold at the price of $42.35, thus devaluing the U.S. $ by the extent the gold price rose. This was keenly felt in all the markets across the globe because it was a particularly visible blow for the $ and for the sterling as the "$ Premium" was imposed in the U.K. to prevent a wave of capital exiting the country. Shortly thereafter the oil price shot up to $35 a barrel from the $8 level it had happily sat at before. In those days, even with no gold standard, gold was considered the foundation on which paper money stood....It must have taken the tacit if not the full support of Europe to support the move from gold to the $, held as they were, to ransom through U.S. power over oil supplies and its pricing as is the case today! But note well, please, that the objective was not to thoroughly discredit gold, as it will always prove vital "in extremis", but was to put it in a non-monetary role, as a non-threatening or challenging reserve asset.Thereafter through the eighties and nineties, gold suffered under a persistent campaign to discredit/ demean it as money, but not through actual sales of gold [although these were constantly threatened], but through the accelerated production of gold into an already oversupplied market. This accelerated production of gold came about by a system whereby Central Banks lent gold to bullion banks, who then on-lent it to mining companies to finance their development.Today this is still done, whereby the cost of financing development of a mine was raised through the immediate sale of the gold borrowed from the bullion banks, with a promise to repay the gold from future production [called "hedging"] in an operation where gold was sold forward at the forward price [in the futures market] which included the interest to be accrued over the period [the "Contango"] until future production supplied that gold. Higher than market prices were achieved in this way, particularly as the gold price was steadily falling over the period, aided by threats of gold sales made loudly in the market by Central Banks. But the banks, Central and otherwise, together with the mines went overboard and sold the bulk of their future production forward in this manner. This looked wonderful in a falling gold price market, but became the reverse when the gold price started to rise!In 1999 the European Central Banks, with the impending launch of the Euro in mind, decided that the anti-gold campaign had gone too far and decided to form the Central Bank Gold Agreement, whereby they would restrict gold sales to those already announced to the public and to place a ceiling on such sales of 400 tonnes for the next 5 years. Again gold was placed in a secondary role in the European monetary system in a campaign highlighting its junior role.But the limitation of gold sales took the fear of dumping of gold onto the open market, away. However, after a full 20 years of such threats the market was slow to fully appreciate the change in "Official" attitudes....In an environment already created for it, the Euro was launched without gold as a threat to it as a paper currency anymore. A generation had passed by and the average fund manager knew nothing of the world in which gold was money. The European Central Bank could happily announce that it aimed for the Euro to be backed by its reserves of which gold would represent only 15% [a target not a rigid line]. Now gold could enter the monetary scene as a reserve asset in SUPPORT of fiat currencies, NOT a challenge...^---(see url for full article)---^Hits pretty close to the mark on most accounts -- certainly closer than most other commentators. Have a look.R. Ned (3/15/06; 13:59:44MT - usagold.com msg#: 142461) cananami.. According to the article, is the IOB going to happen? canamami (3/15/06; 13:51:12MT - usagold.com msg#: 142460) Thank You USAGOLD.... ...for running such a fine website and contest.There is an interesting article on the Iranian oil bourse: "The other Iranian threat" in the March 13, 2006 edition of the Western Standard, at page 18, by Kevin Steel. It's not online yet, but I will link to it when it is put online. Gandalf the White (3/15/06; 13:42:28MT - usagold.com msg#: 142459) TA TA TAAAAAAAAAAAAAAAAAA --- Winners !! I am still very busy in Morador, but have learned that the COMES April Contract SETTLEMENT for "The Ides Of March" was $554.4 !!AND the WINNERS are:Sir Canamami wins the Mexican 10 Peso goldpiece, while Sir 24karat and Sir The Hoople both win a US Silver Eagle. $$$$ $554.7 $$$$ canamami (3/12/06; 17:44:26MT - usagold.com msg#: 142361)$$$$ $553.8 $$$$ 24karat (3/11/06; 11:04:59MT - usagold.com msg#: 142318)$$$$ $553.4 $$$$ The Hoople (3/12/06; 12:43:27MT - usagold.com msg#: 142354)===Will the WINNERS please contact Jamie at USAGOLD with their snailmail shipping addresses. She can be reached at either:jamie@usagoldor 800-869-5115 Extension #108Please advise her of your USAGOLD Forum "handle" too.THANKS and CONGRATULATIONS <;-) USAGOLD / Centennial Precious Metals, Inc. (3/15/06; 13:01:01MT - usagold.com msg#: 142458) Put a Solid Foundation Under Your Portfolio http://www.usagold.com/ProductsPage.html
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