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Welcome to the USAGOLD Gold Discussion Archives. The archives of this gold discussion forum are a treasure trove of information to educate investors about protecting their wealth through portfolio diversification with private gold ownership. The discussion forum also covers the wider issues of the past, present, and future role of gold in international monetary policy and the dynamics of the modern gold markets...   (Discussion Forum Hall of Fame) (The Gold Trail) ("Thoughts!" by ANOTHER)   The opinions posted by all guests are expressly their own and do not necessarily represent the views of the management or staff of USAGOLD - Centennial Precious Metals. The hosting of the public discussion shall therefore not be construed as an endorsement by USAGOLD - Centennial Precious Metals of any of the opinions posted here.

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ARCHIVED DISCUSSION FROM 2/17/1999
All times are U.S. Mountain Time

Gandalf the White (2/17/99; 23:50:06MDT - Msg ID:2505)
What was that magic dust?
APR Au now heading up --- just hit 287.4
<;-)

Peter Asher (2/17/99; 22:45:28MDT - Msg ID:2504)
Onlychild
The second part of your post leaves me shivering with the chills of truth. If you havn'nt been with us for very long you might take a look at Msg.# i863 17 Jan PM. I've been hoping for some dialogue on the subject you just brought up.
But, it is a sensitive area to some people.

The Stranger (2/17/99; 22:31:54MDT - Msg ID:2503)
onlychild
Maybe we shouldn't declare how smart we all are until gold crosses, say $400. If anybody is interested, you can take the absolutely free I.Q. test at www.iqtest.com . It takes 13 minutes. I got a 155, which just thrills me to death, but, although the test appears to be legitimate, I have no idea how accurate it is. I'd be interested to see how somebody else does. Anybody?

Peter Asher (2/17/99; 22:31:30MDT - Msg ID:2502)
On Dropping Out, Ayn Rand and Middle Earth.
I spent most of my "go do your homework" time building speedboats in the garage and neglecting studies. I managed to get into a major university by virtue of good College Boards ( early form of SATs) and a good senior year even though I was at about the lower 80% of the class. Next, I discovered chair lifts ,real mountains and real girl; and college crashed and burned also. Then at age 27 I encountered Ayn Rand and "never looked back" as they say.

To me the basic premise of "Atlas Shrugged" was summed up by Francisco's statement "An honest man is one who knows that he cannot consume more than he produces". This was the original trigger to my interest in economics, and is the foundation for all of my own theories.

After Atlas I read "The Fountainhead", which led to me chucking the suit, tie, attache' case and the family business and running of to Europe were I bluffed my way into Architectural positions In Berlin and Florence, after a semester of night school in that work.

When I returned to N.Y., The "East Village" was happening. My boat building had led me to a hand crafted furniture hobby and I found myself making things for others. I had been raised to believe that success in life came from getting a degree, a good position and "going up the ladder" etc. But when someone came in and bought my first showpiece it was "the discovery of The Holy Grail ". I was not an employee nor an employer (yet), and the underlying principles of economics were quite visible.

At that time the big hangout was "Max's Kansas City"; artists, writers, musicians, and craftspeople; sounds of John Denver, Jim Morrison, and Neil Young on the Juke Box. One night a college student and a friend were playing a game of trying to find Kipling's three monkeys and he decided I was #3. So, this 19 year old girl comes up to me and says " Your the third monkey, the one that speaks no evil". This was the opening line of a dialogue that is now in its 33rd year.

Well everyone we knew was into Tolkien's work, and we became Middle Earth Inc. with two white siamese cats named Gimli and Arwyn . (Even now, Robin has a little candy machine route called Pippen Vending). One day a girl came into the showroom and flipped out over the furniture saying it was exactly like that in the "hobbit holes". I pointed out to her that there were no illustrations in the Trilogy and she said "but I saw it there!" --- So, all of you Middle Earthers, maybe once upon a time it was, and we were ??

Well enough of reminiscing, I was going to ponder the printing of paper gold by writing naked options, but as Scarlet says, "Tomorrow is another day."




turbohawg (2/17/99; 21:54:56MDT - Msg ID:2501)
SteveH onlychild NORTH of 49
SteveH, I have exactly that feeling. My guess is that the event itself is not what will surprise most people, but rather the magnitude.

onlychild, a silver lining in this economic decline that many of us think is coming may be that all those people you refer to are going to have to learn to earn. With the debt load, at some point the govt will be threatened with bankruptcy, spending will have to slow dramatically, and there will be nowhere for the parasites to turn. Of course, chaos may ensue for awhile ... those with something better be prepared to protect it. But in the end, we'll have the opportunity to win back our freedom.

NORTH of 49, I can relate, dude ... can I ever !!!
>I subscribed to the old Beachboys song--"it was fun, fun, fun, until Daddy took the T-bird (in my case, Camaro) away. Those were the good ole days--don't regret a moment of the extra year I had to put in finishing my degree!! <

SteveH (2/17/99; 21:13:25MDT - Msg ID:2500)
April gold snoozing like I should be at ...
$286.30...no now $286.70...talk of sleep awakens the slumbering giant. Wake up...wake...up; now go back to sleep...nyuk, nyuk, nyuck.

You know, today's readings impress me that most of us feel that something big is about to happen. You know that feeling of angst (Sartre would be proud) or impending 'something' that you know is or about to happen and you can't ... quite...put your thumb on it. Anybody else feeling this way about the markets, gold, silver, stuff?

onlychild (2/17/99; 21:03:37MDT - Msg ID:2499)
Upper 10%
Okay, so we're not all valedictorians. My point was that everyone at this site is of above average intellect, and not subject to becoming the "sheep" I mentioned. I didn't do so well in High school myself, but since then I've tried to excell in my endeavors. The thing that alarms me about the public in general isthe complacency, apathy, and acceptance of the status quo.Or worse yet, if they don't accept the status quo, then many look to the government for laws or give-away programs to raise their standard of living rather than get off the couch. those are the same individuals that we should fear in the approaching crisis. They will attempt to have our wealth legislated away once their fiat currency has been reduced to bird cage liner. Has anyone rea Dr. Zhivago? I teach at a vocational school, and most of my students are twentyish. There seems to be a general belief that if they don't have it and you do, then you owe them some or all of it. I can just picture some of my students, as children, kicking and screaming "no fair" because the kid next door got money for the ice cream truck and they didn't....Shut up! When I was a kid the prescribed treatment for misbehavior was 32" of genuine cowhide, now it's 10mg of Ritalin. Be afraid my freinds, tell no one of your hoarding, lest you become a target when the poo-poo hits the fan. On an unrelated note a major power plant was leveled by an explosion here last night, now I'm really worried about Jan. 1. It probably won't be back on line by then.

NORTH OF 49 (2/17/99; 20:57:55MDT - Msg ID:2498)
Indianna Jones??!! Aristotle, if you only knew!!
I am flattered by your reference, however, most of the--ah, shall we say "incidents" that have befallen me through the course of my career, were self inflicted.

For instance, I can remember, as a young graduate, jumping at the chance to journey to Thailand on a research project back in the very early 70's. I think that the most valuable knowledge I attained there, was that if you get your Landcruiser stuck in quicksand while fording a jungle stream, a fullgrown two (maybe three) ton bull elephant can't pull it out. He can pull out one half at a time, but not all at once. My God there was hell to pay over that!!

No49

Peter Asher (2/17/99; 20:47:55MDT - Msg ID:2497)
AEL,Aristotle, North of 49 & Onlychild
Speaking of GBS {Shaw) My favorite quote of all time was one used by Robert Kennedy often but which supposedly came from a character in a Shaw novel. "Most people look at things as they are and say 'why'. I dream of things that never were and say 'why not'."

Regarding the "top of the class" consideration, I suspect several more of the rugged individualist Forum Folk will be posting they're denials on that. I'll be back later with " dropping out, the earlier decades" meanwhile check out post #1836 Jan. 15 '99.

The Stranger (2/17/99; 20:10:01MDT - Msg ID:2496)
Hey, Michael....
Is it too late to change my contest entry to $317/oz.?

Aristotle (2/17/99; 19:27:55MDT - Msg ID:2495)
Such comedy! Good as gold!
Peter...your 2491 had me rolling throughout! I'm glad you found the freedom to use that scroll bar! I'm STILL having flashbacks.

AEL..."'top 10% of their class.' not me! high school dropout... and should have dropped out earlier."
See? You just PROVED that you were the top. GPA only means what the student wants it to mean. Good Shaw quote. Education never ends. And on that note, did you see my related post--was it last night? My how time flies!

"Time flies like the wind. Fruit flies like peaches." ---?


Gandalf the White (2/17/99; 19:13:32MDT - Msg ID:2494)
sure hope that the sun keeps rising in this land
Wednesday, February 17, 1999
Short-Term Interest Rates Drop Sharply

TOKYO (Nikkei)--Short-term interest rates dropped sharply in Tokyo Wednesday as the Bank of Japan showed it intends to guide short-term rates to a near-zero level. The average rate on unsecured overnight call loans, considered by the BOJ the benchmark for its market operations, declined to a record low 0.08% on Wednesday, below 0.1% for the first time. Interest rates on contracts with trading periods of about three months dropped across-the-board to record lows. Rates on certificates of deposit also sank Wednesday. City banks offered three-month CDs at 0.3-0.33%, down 2 to 5 basis points. The three-month yen TIBOR (Tokyo Interbank Offered Rate) stood at 0.53077%, down about 2 basis points. At such low rates, commissions make trading overnight uncollateralized call loans unprofitable. Call loans form the core market where financial institution adjust their daily fund procurement. But life insurance companies and other institutional investors have begun pulling out of call loans, and some analysts fear the call market may fail to function.
(The Nihon Keizai Shimbun Thursday morning edition)
*****
AND the NIKKEI which closed down 74 on Wed. opened Thurs. down 74 at 10:00 am.
<;-)

Gandalf the White (2/17/99; 18:25:47MDT - Msg ID:2493)
APR Au
A tall but solidly built figure robed in white, stands amongst a group of short and wiry characters whom are all begging him to perform some sort of a trick or act of enjoyment for them. He finally relents and as he prepares, mumbles to himself, "I'll bet that HopeingII will not be fond of this !" He takes a very, small satchel from within his white robe, selects only a pinch, and sprinkles it into the air while chanting, "APR Au rise from the depths". The assembled "halflings" cheer and runoff to see the results of the spell.
<;-)

AEL (2/17/99; 16:00:51MDT - Msg ID:2492)
paradigms and such

aragorn wrote:
"It is certainly something to ponder when officials speak openly of the market as being a bubble, rather than reserving judgement--"It looks like a bubble, feels like a bubble, but I don't know...could be a new paradigm"!"

... yes, as in "Hey, buddy, can you para-digm?" :)

onlychild wrote:
"b) The type of individuals that post here probably scored in the top 10% of their class."

not me! high school dropout... and should have dropped out earlier.

"The only time my education was interrupted was
when I was in school." --George Bernard Shaw



Peter Asher (2/17/99; 15:32:59MDT - Msg ID:2491)
Aristotle & Phoenix
I just exercised some free will by scrolling through that piece of sophistry as fast as my mouse could carry me. I once tried to engage a physicist in a discussion about gravity being the summation of the forces that hold electrons in orbit around nucleuses and if we knew what that was and could reverse it, we would have anti-gravity but everything would fly apart. He responded with a long winded lecture on the fact that space is curved.

An early Beetle Baily cartoon had him and a beatnik character goofing off under a tree and the guy is explaining that beatniks are people who sit around all day and search for truth. So. Sarge comes along and tells them "Get to work or you'll pull KP for a month" and Beetle says "I guess that's some of that truth right now".

I could go on but I just decided not to.

T. Remital (2/17/99; 15:32:25MDT - Msg ID:2490)
warning
With all the theory and advice bandied about these days about the stock market, gold,
bonds, indexes and options we can't lose sight of the fact that we buy, with one thing in
mind, hopfully some one will take it out of our hands at a higher price...for those who have
sold short, in hopes that some one will supply them at a lower price. For those who are
short gold, must be a little nervous when there are daily reports of tight supplies of
bullion, plus the lack of gold for lease and slow producer selling.There Is going to be a
explosion one of these days when the shorts all try to capture the limited supply of gold
at the same time.....they wont be able to ask Greenspan to bail them out...when they lose
there shirt.




Peter Asher (2/17/99; 14:56:48MDT - Msg ID:2489)
Michael
Thank you again for the recognition of the content of that post. It is exhilarating to win something for the fourth time, although I must admit I didn't have to go up against Aragorn, PH, AEL, Or Turbohawg this time around. Now if Gold will get back up to 295.80 for Friday's close, does 5 wins make an Ace?? Seriously though, the best part of all of this is the interchange of ideas with all the others.

Less then two years ago, all I knew about gold was that it was a soft yellow metal that we were, for awhile, forbidden to own; and that at times it was a hot trading item. I had played with stock options a lot but had never touched commodities.

Then in June of '97 Robin became convinced of Nick Guardio's viewpoints, bought some Eagles, and we discovered your site as a source of commentary. You were my first professor on the subject of gold, and then when you created the Forum, I sat at the feet of the other instructors and began to understand. I had been trying to write about economics for two decades, but couldn't get past the confusions of monetarism until your site came along. When you announced the first contest, I took the plunge and here we are.

It is heartening to see the flood of new posters generated by this latest event. The Forum is becoming a very profound think tank.

Long Live The Host!!.

Aristotle (2/17/99; 14:05:09MDT - Msg ID:2488)
Phoenix
If that is what modern philosophy has become, they can't pass me the hemlock fast enough. Socrates, step aside!
Tough stuff to plough through; I haven't looked (even accidentally!) at a differential equation in years. The odd thing is that a friend and I were discussing very nearly this same material (sans equations and physicist references), free will and "killing" time. It's odd how well things come together at times.

So basically, the thesis you've referenced is proposing that I actually have little choice in the matter...I am predestined to live on my gold standard. Here is my answer to that notion of no free will: the next time I make a routine money exchange of gold for dollars, at the very last second I'll say, "No, wait! Toss in an EXTRA coin." So, Phoenix, how do you like THEM apples?! Having made such a vow to prove my free will, now I'll have to plan this month's expenses carefully, cutting back on pints at the pub, skipping lunches on Tuesdays and Fridays, staying home evenings. Man...it's like my whole month has been suddenly cast into place... :-) ---Aristotle

Phoenix (2/17/99; 12:44:03MDT - Msg ID:2487)
Aristotle....Free Will, Food for Free Thought.
Modern natural philosophy wrestles with "causality",

http://chaos.fullerton.edu/~jimw/kill-time/

and the twinkle is aglow.

Gandalf the White (2/17/99; 11:51:59MDT - Msg ID:2486)
more details
Yes, I agree that myself sometimes does micromanage far to much, but I love to feel the pulse of the beast and await to see the fear enter his eye. Like today and the APR Au contract action reminded me of a conversation (email) that I had with a person that I respect much for his work. That is S. Jon Kaplan and his "goldminingoutlook" comments and reviews. One day Jon stated that a dramatic event would happen to SPOT the dog at exactly 11:30 NY time. To my surprise, it did happen the next day and at exactly 11:30 NY time ! I could not pass up the opportunity to ask of him "WHY at exactly 11:30 NY time ?" He replied that 11:30, which is the end of the overlap of SPOT trading in London and NY, the traders in NY can make an impact of major proportions with a smaller amount of capital. SO, I see today that at exactly 11:30, THEY dumped a bunch of APR Au contracts on the sell side. Over 120 sales volume dropped the price $1.5 in less than ten minutes. An example of your "Shortsiders" in action.
BTW, I shall have to download and study all the GREAT posts in the last few days, when I find more time. Right now a number of Orcs are pounding on the door.
<;-)

NORTH OF 49 (2/17/99; 11:08:51MDT - Msg ID:2485)
Onlychild--all is not as it seems
First, welcome to the forum. It took me a couple of months before I worked up enough nerve to test the waters also. I agree with you. I can only imagine that 90% of the posters finished in the top of there class, however, there is always me. I subscribed to the old Beachboys song--"it was fun, fun, fun, until Daddy took the T-bird (in my case, Camaro) away. Those were the good ole days--don't regret a moment of the extra year I had to put in finishing my degree!!

No49

Aristotle (2/17/99; 10:58:50MDT - Msg ID:2484)
onlychild--great thoughts!
I would totally agree that the posters and lurkers here are in an elite group. Why must they seek the loving approval of the rank and file to feel validated, i.e. through a sudden shift in public opinion that favors gold? That day will come, my friend. The internet is sparking a renaissance of free thought...people daring to learn and think for themselves.
You are right...we shouldn't sweat the details. Our validation is a feeling of contentment, knowing that we are the lucky ones to be ahead of our time. I'd say in that regard that bullion is grand. And as you point out, those old coins aren't exactly growing on trees. I have some of each, and I must say the historic circulation coins give you a profound sense of the past...AND the future! ---Aristotle

Aristotle (2/17/99; 10:44:13MDT - Msg ID:2483)
turbohawg--"Who is John Galt?"
Heh, heh. But seriously, I've never read Ayn Rand, but from what I've been told by friends who have I would surely discover that the tales would reverberate with the ringing peal of truth. Some day I'll find the time. Y2K by lamplight?? Is Galt in "Fountainhead" or "Atlas Shrugged"?

Here's an odd fact for you. I've read stacks and stacks of books, new and old, good and bad, fiction and nonfiction...pretty-much covering the spectrum. Tolstoy, Dostoyevski, Dickens, Maugham Clancy, Wilde, Bronte, Hawking, Clarke, Hesse, Dumas, Dante, Eco, et cetera. And would you believe that it was Tolkien, of all, that first really clinched the whole "free will" thing for me. (It is great to see the likes of Gandalf and Aragorn here!) LotR can be appreciated on many levels--which likely explains its wide and timeless appeal.
Life IS what you make of it...so live it on your own terms. There is no easier reflection of this than choosing gold as your means of "cash savings." But then, I'm open to suggestions/debate on that account. That's why I read. To find the plum in the pudding. ---Aristotle

onlychild (2/17/99; 10:15:18MDT - Msg ID:2482)
Blue Collar View
Until tonight I have only lurked these pages sifting through the rhetoric looking for guidance. I have gained much insight concerning the forces that drive markets. I have also seen events micro analyzed beyond what may be relevant.

Some basic facts that some may be overlooking:

a) People are like sheep, when the leader turns most of the rest mindlessly turn to follow.

b) The type of individuals that post here probably scored in the top 10% of their class. which leaves the other 90% with their nose up another sheep's butt.( not pleasant, but at least warm and secure)

c) It only takes an old man and a couple of dogs to control a lot of sheep.

Heaven forbid, but I believe the gold price can be held in check for a long time. News of massive gold deposits off Japan! Just the kind of spin that smashes rallies! My solution: forget bullion, it may not rise for a long time, as the manipulators jockey to hold gold low. They can devalue gold the same way a government can devalue currency, just print more paper. Buy something they can't produce, something that will rise in value in spite of the manipulation: Pre-'33 MS-60 or better. They won't find any of those a mile deep off Japan! Old coinage will hold collector value even if they do find King Solomon's mines.(humor)

By the way, speaking of sheep, when they announced 18" of snow here six weeks ago people cleared the grocery store shelves like a payday in Moscow. I can't imagine the havoc that years end will bring. Got provisions?

turbohawg (2/17/99; 10:08:21MDT - Msg ID:2481)
Aristotle
I would guess that you're acquainted with a man named John Galt ... hell of a guy.

Aragorn III (2/17/99; 09:46:12MDT - Msg ID:2480)
Math lesson
Summoned by USAGOLD, 'I think I did the "mean" right. If I didn't I'm sure one of our engineers will let me know.'

"It all depends upon what the meaning of "mean" means." (Thank you, Mr. President!)
The mean and average are two terms for the same concept. What you have called the mean is properly called the median.

Your calculations are quite correct, though.

Your summary of this weekend reminded me to comment to Goldfly. As I am fond of a particular 'sign off', the song struck me as quite delightful.

got gold? (babe)

USAGOLD (2/17/99; 09:27:58MDT - Msg ID:2479)
FANFARE & TRUMPETS.......
Today we announce the winners of the great jousting (verbal) contest over the last weekend. And what a contest it was....For posters and lurkers alike it was a marvel to behold. As I must choose, it was again a difficult task and I could not clearly establish a winner as it came down to two extraordinary posts that came back to back. So the three silver coins go to two different posters:

Peter Asher....Msg #2400...Electronic Alchemy. Who thereby stimulated another great post. Peter your consistent contribution is worth its weight in gold. Three beautiful silvers for you, my friend.:

SteveH...Msg #2401 for his stellar response. I think I speak for all, Steve, when I say we greatly appreciate your daily presence at USAGOLD FORUM.

Both inspired. Both get the three silvers.

The runners up are:

Goldfly...Returns to the winners' circle with Msg #2406 because he had not only the hobbits at large but the FOURM hobbits all humming that tune --- We've got gold Babe!

Farfel....For an strong dissection of an opposing argument. Off subject but worthy of the sivler nonetheless. Simply can't let it go unrecognized, Farfel.

HopeingII..For an excellent first post and recapitulation of the issues before us. Will he get the gold too??

Here's the predictions on the gold price 2/19/99. Read 'em and weep:

287.60 HopeingII
291.10 JA
293.00 Tico
293.60 Pa kua
294.90 Goldfly
295.80 Peter Asher
296.50 Arizona Hiker
297.50 T. Remital
300.00 Gandalf the White
300.20 Hobgoblin
301.10 Gold Dancer
303.50 Steve H.
307.00 The Stranger
320.50 Buena Fe

Just for fun...

The average price predicted: 298.70
The mean price predicted: 297.00 (between Arizona and T Remital)

If I left anybody's prediction out, please let me know. Richard, Oregon: I was going to include your prediction but Tico had already taken the 293 price. I think I did the "mean" right. If I didn't I'm sure one of our engineers will let me know. The winner will be announced after the close on Friday.

Thanks, all. That was fun. We'll do it again soon. MK

Aragorn III (2/17/99; 09:15:30MDT - Msg ID:2478)
Well, well...
I see that there is no beating USAGOLD to report the good gold news. I must learn to type faster!

Aragorn III (2/17/99; 09:11:45MDT - Msg ID:2477)
On again, off again...on again.
German Undersecretary of Finance Heiner Flassbeck said in a speech to the European Parliament's monetary affairs subcommittee that U.S. economic growth in the recent six months was due primarily to people drawing on their savings and as result of the booming stock market. "It's another question whether it's sustainable," he said--also expressing the concern "it would be fatal for Europe if that American bubble burst now."

It is certainly something to ponder when officials speak openly of the market as being a bubble, rather than reserving judgement--"It looks like a bubble, feels like a bubble, but I don't know...could be a new paradigm"!

You may recall that EU finance ministers voted last year not to mint gold circulation coins, authorizing instead the production of commemorative coins. Mr. Flassbeck said EU finance ministers haven't ruled out minting a 100 euro gold coin to enter circulation in 2002. In response to a question on whether EU countries plan to mint gold euro coins, Mr. Flassbeck said, "We'll check and see whether there might be a possibility after all."

USAGOLD (2/17/99; 08:40:01MDT - Msg ID:2476)
Today's Market Update: RECORD WORLDWIDE GOLD DEMAND IN FOURTH QUARTER
MARKET UPDATE (2/17/99): Gold attempted a recovery from yesterday's onslaught in the early going at one point showing a 50¢ gain on the day, then sold off some despite a World Gold Council report that gold demand reached the highest level ever recorded for any three month period in the fourth quarter of 1998. Strong demand in the United States, Europe and Brazil (!) carried the day. (Ed. Note: The report on Brazil contradicts the assertions by gold critics at some of the major Wall Street houses who proclaimed that the currency problems in Brazil would cause investors there to unload gold. At USAGOLD we took exception to that saying we thought it would increase demand in that beleaguered country. Apparently, it has. World Gold Council also reports demand picking up in the Middle East. With the potential for a devaluation in Saudi Arabia, we are not surprised that interest in gold would be rising there.)

Commenting on the report was the Council's George Milling Stanley: "The story of 1998 was of a growing appreciation of the role of gold as a monetary asset. There were continue strong gains in the demand for gold as an investment. In the USA, Y2K fears and concern about a possible correction in the stock market drove coin purchases to an all-time record; in Japan, the 'Big Bang' financial reforms triggered a renewed interest in gold's value in portfolio diversification; while in the countries worst hit by the Asian crisis, investment demand in the fourth quarter was already back up to pre-crisis levels. All over the world, investors are looking for ways to preserve their wealth, and increasingly those investors are starting to turn to gold. This growth in investment demand became increasingly apparent throughout the year."

In other gold news, German Deputy Finance Minister Flassbeck says Germany "remains open-minded on the question of introducing a euro gold coin" according to a Reuters report, and is looking into possibility of introducing it. According to Reuters, European Parliament "has consistently called for a gold coin with legal tender value, but the idea was rejected by finance ministers last year. That would make Flassbeck's support an important development. Bridge News reports that the State Bank of India will offer 3.00-3.50% on gold deposits -- double the going rate elsewhere -- reflecting the growing gold shortage globally.

An interesting article published by the BBC on the surprise announcement by Japan that it would be effectively monetizing its debt in a move to inflate its beleaguered economy also advises that the move might be enough to force China to devalue its currency in the near future. This could move the contagion to a fever pitch elsewhere in the world and infect the U.S. and European economies, according to the article.

That's it for today, fellow goldmeisters. Today could be a turnaround day. More later if warranted. Have a good day.

SteveH (2/17/99; 04:04:56MDT - Msg ID:2475)
April gold now $287.30
see what a few good snores will do for gold.

Aristotle (2/17/99; 00:05:10MDT - Msg ID:2474)
Post-Moria Gandalf
Here is a thought for you to help as you guide that burdened Fellowship.
When you look at what the Web has to offer by way of gold info, you invariably encounter a lot of New World Order dialog. Ok, this isn't directed AT you, it's just that you happened to be standing nearby as I began to compose these words. (So treat me with the same mercy shown to ol' Barliman Butterbur, ok?)

These thoughts are in the spirit of my rather lengthy post a while ago...about being your own person, etc. Such a person is not likely to be a victim of any "system" in this day and age. Here is a quote I am fond of--"Have a nice day...unless you have other plans." Accordingly, I would expect that any evil that is afoot will only succeed in processing those through their evil systems who willingly get into the cue and patiently wait their turn. Who has such time? Not me!

I recently had a conversation with my dear Mother who has somehow recently come to harbor some frightful notions of a New World Order. So I told her this story, and you know, she's made a complete recovery after much laughter was shared.

None other than Ghandi was once asked his opinion regarding Western Civilization. He responded by saying that he thought "it would be a pretty good idea." And so the chuckles began.

In that vein, I asked my dear Mother what she thought about the CURRENT world order. I recall that her impression was not a favorable one, but that things were certainly better now than during the recent Cold War, or most any other time in the history of the world--Stone Age (no, she wasn't there!), Dark Ages, The Inquisition, etc. So I said, "So basically, you're telling me that you are coping with the current world order, but aren't necessarily a satisfied customer." Further, "Things seem to generally be getting better all along. Suppose we COULD fix what was plaguing this world order of ours. What, then, would we call this new world order?"

Moral of the story...live a good life and fear no capital letters. Also, don't take candy from strangers. Oh yeah, most importantly...Life is too short to monkey around with some regime's paper money. Be a sovereign individual, baby! Live well my friends. ---Aristotle

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Thursday February 9
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