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ARCHIVED DISCUSSION FROM 4/19/2006 All times are U.S. Mountain Time (Yesterday's Discussion.) TownCrier (4/19/06; 23:43:46MT - usagold.com msg#: 143386) Gold scales to record high in Vietnam http://www.thanhniennews.com/business/?catid=2&newsid=14667 April 20, 2006 -- The Vietnamese gold market has gone white hot, with prices Wednesday leaping to an all-time high...Saigon Jewelry Gold Co. (SJC) rates skyrocketed to VND13.08/13.1 million ($822.60) per tael late Wednesday at the southern business Ho Chi Minh hub's private gold shops but trade volume remained heavy.The precious metal gained VND1.01 million ($69.07) per tael in a period of three days – the fastest and highest jump so far. Rising demand for gold pushed up the price of gold in the domestic market, with local rates outstripping world levels, according to bankers.Some banks encouraged their clients to repay gold loans prior to maturity to avert risks of higher gold prices, promoting many borrowers to buy the precious metal for repayment, according to Nguyen Thi Cuc, a top leader of Phu Nhuan Jewelry Joint-stock Company (PNJ).Additionally bankers’ forecast the trend will continue...The State Bank of Vietnam (SBV) suggested solutions for commercial banks to help borrowers avoid possible higher gold prices by allowing them to change gold loans to Vietnamese dong.The central bank would provide conditions for banks and gold trading companies to import gold, ensuring sufficient supply for the market.PNJ Company has just imported 500-600 kg of gold, with 200 kg more arriving in a couple of days. SJC plans to import 4-5 tons of gold in the near future.^---(from url)---^Very good to see gold loans being driven out of vogue.R. The Invisible Hand (4/19/06; 22:37:15MT - usagold.com msg#: 143385) Still $20 per 10 gram – How come? http://www.shanghaidaily.com/art/2006/04/20/263275/Gold_bugs_push_price_to_record_in_Shanghai.htm Sundeck (4/15/06; 04:42:13MT - usagold.com msg#: 143241)Gold surge to all-time high of Rs 9000 per 10 grams The Invisible Hand (4/15/06; 05:23:49MT - usagold.com msg#: 143243) http://finance.yahoo.com/currency/convert?amt=9000&from=INR&to=USD&submit=Convert9000 rupee = $200 = 10 gram1 gram = $20Tomorrow's Shanghai Dailyhttp://www.shanghaidaily.com/art/2006/04/20/263275/Gold_bugs_push_price_to_record_in_Shanghai.htmGold prices ended at 161 yuan (US$20.07) per gram yesterday on the Shanghai exchange, the country's sole bourse for gold and platinum. It is the highest price since China opened the exchange to deregulate the gold market in late 2002.==Was that price already fixed last Saturday.Gata, can you hear me? The Invisible Hand (4/19/06; 22:19:12MT - usagold.com msg#: 143384) More from the IMF-lunatics http://www.imf.org/external/np/tr/2006/tr060419.htm Transcript of the World Economic Outlook Press BriefingInternational Monetary FundApril 19, 2006 SNIPSRisks to the strong central forecasts are tilted to the downside. They include possible inflationary and growth consequences of the still-high and volatile oil prices, rising real interest rates, and possible exchange rate volatility. +In sum, it would be fair to say to the world, "You have never had it so good," but challenges are building in the background. Flatliner (4/19/06; 21:30:52MT - usagold.com msg#: 143383) Ah 29,280 That is still a long way from the moon, but I'm sure the view will be crystal clear from up there. Ten Bears (4/19/06; 21:26:43MT - usagold.com msg#: 143382) Book Review http://www.capitalownership.org/lib/WildeBookReview.htm A book review of "The Lost Science of Money" : The Mythology of Money - The Story of Power. By Stephen ZarlengaSnippets:In Karl Marx= analysis, the source of social injustice was the system of industrial capitalism; in the view of monetary reformers the villainy is transposed to finance capitalists. The most damning accusation is that the club of international bankers deliberately promote warfare to increase their wealth and power.The appropriate response to this situation, in the view of the American Monetary Institute, is that management of money and credit policy should be a fourth fundamental branch of democratic governments, on a par with the legislative, executive and judicial functions. The thesis and the campaign are not new, therefore, but rather the extension of an American tradition. A strong sub-theme is that American thinkers have been at the forefront in arguing the principle that money is a public good that should be supplied by governments.Not only is the standard approach of economists completely mistaken, reformers suspect it is even that way by design. The answer is called The 100% Reserve Solution and is attributed to both Frederick Soddy and Henry C. Simons.The enduring dilemma for reformers is the passivity of what should be a mob. Why do citizens in a democracy not get rid of their oppressors? Ferdinand Lundberg explored the phenomenon in the mid-sixties in The Rich and the Super-Rich, at a time when the question was why the rich (e.g. Goldwater) did not rise up against the super-rich (Rockefeller). His answer was that the merely rich didn=t want to foreclose on opportunities to become super-rich themselves. The American dream fizzled out in the 1970s and after a period of dithering and unease reasserted itself as denial, via technological and military imperialism. Now it is not the comfortably rich whose motives arouse the curiosity of thinkers and writers, but rather the struggling representatives of the diminishing middle class.The reviewer is an economic policy analyst and a Canadian civil servant, coming at the subject from a perspective most succinctly described as agrarian. LimitUp (4/19/06; 21:07:57MT - usagold.com msg#: 143381) Flatliner Thr term limit up means nothing for it is figured in fake dollars. The real limit up is figured in feet, about 29,280 of them. To the Moon. Goldendome (4/19/06; 19:41:07MT - usagold.com msg#: 143380) What we saw today in the markets. Today was interesting in the markets. We saw, interest rates up, the dollar down, and Gold up. Something that we have been seeing more frequently of late, though still not a trend, but closer. A little counter-intuitive, as we usually associated rising interest rates with a stronger dollar and lower Gold. But here we have a falling dollar, driving up interest rates, causing the bonds to fall, and gold to rise. An extremely dangerous situation. If you were not a citizen of the U.S., would you want to hold and place your money in a currency that is loosing value? Or, buy or hold U.S. bonds in an environment of rising interest rates that forces bond prices to fall, thereby losing principal? The U.S. Government is making all sorts of noise that the Chinese MUST revalue the Renminbi in a more aggressive manner, or face possible tariffs of up to 27.5%. If you were the Chinese, would you let the U.S. Government have a 27.5% profit on everything you ship to this country!!? Perhaps the Chinese are in the this process right now of letting the dollar fall. All that they need do, is stop buying bonds. The overhang is so great, that it forces up interest rates, forces down the dollar due to lack of demand, and gold prices increase for a number of reasons, including deterioration of the dollar.That's what we saw today--lower dollar, higher interest rates, lower bonds, higher Gold. The Invisible Hand (4/19/06; 18:50:47MT - usagold.com msg#: 143379) Reaktion on Another Forum http://radicalacademy.com/cgi-bin/eboard30/index.cgi?board=Main&message=2916 >>So, my dear cowboys, get ready for Armageddon in the US of A.<<Armageddon, Ivo? I think I agree with you on this one. The end of the USA is - like the end of the world - foretold by every generation but realized by none.MESSAGE = http://radicalacademy.com/cgi-bin/eboard30/index.cgi?board=Main&message=2916 The Invisible Hand (4/19/06; 18:42:05MT - usagold.com msg#: 143378) Europe being courted by both US of A and Iran http://www.iranmania.com/News/SectionView/Default.asp?SectionKind=Current+Affairs http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=42135&NewsKind=Current%20AffairsSNIPAccording to an AFP report, a top US diplomat refused to rule out unilateral action by the United States to curb Iran's nuclear program but said it would be "best" to work with other countries in doing so.http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=42139&NewsKind=Current%20AffairsSNIPTehran plans to step up uranium enrichment work soon and has asked European countries to help in the effort, a senior French official told AFP==The fun is starting. Les jeux sont faits.The gold war is in the open now. The Invisible Hand (4/19/06; 18:32:22MT - usagold.com msg#: 143377) The IMF llunatics feel the heat http://news.bbc.co.uk/2/hi/business/4923706.stm SNIP[IMF:] The world economy is expected to accelerate in 2006, despite setbacks caused by recent natural disasters and fears over the surging price of oil.The text under the picture may be true:China's economy is continuing to expand strongly The Invisible Hand (4/19/06; 18:18:40MT - usagold.com msg#: 143376) Are Chicago and New York sleeping? From my own correspondent – Re: gold bashing The Invisible Hand (4/19/06; 08:49:23MT - usagold.com msg#: 143354)From my own correspondent – Re: gold bashinghttp://www.free-europe.org/blog/english.php?itemid=56The answer to the gold-bashing question will solve ALL the mysteries of the goldmarket.My correspondent sayz:... no reaktion...Wait until the price of gold dissociates itself from the prices of comparable commodities (palladium, silver etc.) Only then, will the train have left for "FREEGOLD"As long as gold can be conceived (or maintained) WITHIN the commodities context ... it can be classified as being "speculative". TownCrier (4/19/06; 15:27:18MT - usagold.com msg#: 143375) Iranian gold rush highlights escalating tensions http://news.ft.com/cms/s/344655e8-cfc8-11da-80fb-0000779e2340,_i_rssPage=de095590-c8f4-11d7-81c6-0820abe49a01.html (FT) April 19 2006 -- With the war of words over Iran's nuclear programme escalating and the domestic economy stalling, Iranians are scrambling to buy gold coins, sending their value soaring by 32 per cent in the past two months."It's unbelievable," blazed a front page story in Etemad-e Meli, a reformist newspaper, earlier this week. "It seems no investment field is as safe.""Gold coins are Iranians’ political hedge fund," says Heydar Pourian, editor of Iqtisad Iran (Iran Economics), a monthly magazine. "We keep them at home and they make us feel secure."Commodity prices have risen worldwide over recent years partly in response to Middle East tensions centred on Iraq, but Iranians are now starting to feel they may be at the centre of a growing storm.Hence the appeal of gold coins given as presents for weddings and new year; gold coins are a liquid and proven investment. And at 460,000 rials (about $41.50) a quarter, gold coin is within reach for all but the poorest Iranian.By contrast, Iran's largely state-owned banking sector offers limited services, while investors face inflation put officially at 14 per cent.Lower lending rates mean lower returns for small depositors such as pensioners who, already wary of inflation, are among those fuelling rising demand for gold coins.While deposits in state banks lost 1 per cent in real terms in the year to February 2006, gold coins gained 21 per cent."Buying gold coins reflects a lack of alternatives," says Mr Pourian. "Big investors may pull out of real estate and move their capital to Dubai. Smaller investors have fewer opportunities."^---(from url)---^A largely unique article insofar as it trumpets the fact that gold is particularly good and helpful for the SMALL investors, too.Some folks like to say that "silver is the poor man's gold"; but in actual fact, GOLD is the poor man's gold. Just look to the billions of buyers elsewhere in the world. Gold is the EVERYman's gold. Remember: time and perspective go hand in hand.R. USAGOLD Daily Market Report (4/19/06; 15:05:53MT - usagold.com msg#: 143374) 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 ExcerptsGold extends gains by $13, higher yet in after-hoursApril 19 (from Reuters) -- Gold futures in New York shot to a 25-year peak on Wednesday as gyrating currencies and fears of U.S. inflation sped up precious metals purchases as an alternative investment.Record-high oil prices and news that core U.S. inflation rose at its fastest rate in a year pulled investors into gold as a hedge against inflation, said analysts, many of whom felt momentum for higher metal prices looked strong."Really, the investment off-take is continuing unabated. It's crazy," said Bernard Hunter, a director at bullion dealer ScotiaMocatta in Toronto. "There's a lot of traditionally positive gold news out there at the moment."COMEX June gold futures settled up $12.70, or 2 percent, at $636, after trading from $622.10 to $637.40 -- the steepest price for futures since December 1980.Gold rose for a sixth-straight session, and was even extending gains sharply in after-hours trading following Wednesday's close.June gold in NYMEX ACCESS electronic trading got as high $643.80 Wednesday afternoon -- up $7.80 from the close.Uncertainty about the economy's outlook, coupled with worries about tensions in the Middle East, including the war in Iraq, has been a key factor behind investors pouring more money into gold and other commodities, analysts said."From a technical standpoint, the next objective is $700," said Carl Birkelbach, president and chief executive of Birkelbach Management Corp.The dollar, meanwhile, fell to a seven-month low versus the euro after stronger-than-expected U.S. consumer price data for March.---(see url for full news, 24-hr newswire)--- Goldilox (4/19/06; 14:13:20MT - usagold.com msg#: 143372) WHAT YOU DON'T READ IN THE U.S. PRESS http://www.financialsense.com/fsu/editorials/vaughn/2006/0419.html snip:Well, how is gold these days?Are you one of those still convinced this rise in the gold price is merely a short term rally that has reached its climax? If you follow the fundamentals you have to be aware the real forces destined to drive gold even higher have not even kicked in yet. So in other words we are barely at the beginning of a long term price appreciation of the gold price.But let's stop here and consider the forces in motion driving the gold price higher today and now. The facts are that the rest of the world is seeing something today that American investors as a whole are totally oblivious to. Or maybe American investors in their inflated over confidence just choose to go though each day wearing blinders.Why do American investors wear "blinders" on their eyes keeping them from seeing the economic realities of today? Read the text below and you will understand why American investors refuse to recognize the growing financial mess this country is in now."In the mountain town where I used to live, we celebrated "Winter Carnival" — a midwinter, weeklong festival that included winter sports, ice sculpting and a good old-fashioned parade. I remember the big Belgian workhorses pulling sleighs loaded with hay down Main Street. Attached to each horse's headgear were blinders — big black wings — that cupped the horse's eyes, blocking part of its vision." "Why do they always put blinders on the horses?" I asked my friend Sally, a knowledgeable horsewoman. "It seems sort of mean to me." "Oh, no, it's not mean at all," Sally said. "Blinders are helpful tools, and there are good reasons for using them." "Horses have limited side vision because their eyes are situated toward the sides of their heads," she explained. "Because they're only seeing out of one eye or the other, sudden movements on either side can frighten them, causing them to bolt or shy away." "Also, it's hard for horses to see what lies directly ahead, so it's difficult for them to focus down the road. By putting blinders on a horse," Sally continued, "a handler helps him focus straight ahead — on his job, his purpose and his destination." - click here!Well, there is the answer folks as to why investors in this country wear blinders. It is because "…sudden movements on either side can frighten them…" And if folks remove these blinders heaven help the fright they would experience from looking at reality.And by wearing these blinders the investor can "…focus straight ahead — on his job, his purpose and his destination." And what is that goal and destination the average American is seeking just over the hill? More debt and the false hope that good times will always be just around the corner…as long as you are invested "in the long term." In the long term we'll all be dead. Maybe we better start concentrating more on the activities of day to day.Well, let's pause here and take those confounded blinders off as the rest of the world has done and look at economic reality. The following Asian news text is a good indicator of how the world community views the US dollar today without the aid of blinders. Take your blinders off just for a moment here and comprehend well what you read below and do not ignore its message."Mumbai, April 16: Gold is expected to touch Rs 10,000 per 10 grams in the next five to six months because of the weakening of the dollar as the US economy is fast losing its sheen coupled with the constantly growing gold demand for the yellow metal." "These findings are contained in a paper brought out by Assocham on "Yellow metal: its future pricing trends", which points out that the dollar has already lost its lustre by 40 per cent against the euro since 2001." - click here!Just curious to ask you here… Is this what you are hearing on the US evening news or the US cable financial channels?"The trend is unlikely to be reversed in the future as the faith of the international community in the US economy has been shaken so much that it has reached saturation point. The US economy has started sagging and the trend has become so pronounced and visible that investors henceforth prefer to accumulate gold rather than dollar," says the study." Did I just read above that this trend has become "visible?" If it is visible to the rest of the world community why is it not also "visible" to US news networks and American financial analysts? I wonder if Katie will be able to see this "visible" trend when she begins this fall to report the news for CBS as the new network anchor?"…the US dollar losing its pre-eminent position of most preferred investment instrument." "The report says further that gold demand the world over is constantly shooting up and has neared levels around 4,000 tonnes per annum against its supplies which remain stagnant at about 2,250 tonnes per annum." "Since the dollar is losing its glitter the emerging trend among the investing communities would be "to develop and widen the yawning gap for yellow metal accumulation which will naturally accelerate it price…." TownCrier (4/19/06; 13:56:29MT - usagold.com msg#: 143371) ATTN: Malcolm Your emails have been bouncing (note: unclog your server inbox -- its full).Now you can call it "official" if you'd like (but I still say it's old news -- for my part there was never a doubt). The shortest possible grapevine has given me word that the thing was not only roundly green-lighted, but the key portion was effectively singled out to be expedited. Maybe you already reached that conclusion since Easter... why does best news travel slowest? Unleash the hounds; tallyho.R. Rimh (4/19/06; 13:39:21MT - usagold.com msg#: 143370) Sorry for the tirade... While the source of the report is the TD Bank, the so-callled journalist who wrote it did not seem to consider getting any alternate thoughts from any pro-commodity sources who may have a better grasp of FUNDAMENTALS! Rimh (4/19/06; 13:32:24MT - usagold.com msg#: 143369) %$#@%$$%CBC Trust the far-left leaning useless excuse for a national broadcasting corp. to slam the very source of major tax revenues to the government! Sorry, but there's no love lost here for CBC. Just another hand in my pocket.... mikal (4/19/06; 12:23:43MT - usagold.com msg#: 143368) Barbarous metals and the base ones too http://www.cbc.ca/story/business/national/2006/04/19/commodity-060419.html CBC News: Commodity price correction coming, TD Bank economists warn - April 19, 2006Short report backed by authoritarian lofty assumptions and no fundamentals. Makes a perfect alibi to continue holding IRA's, bonds, dollars and similar proxies, for those needing the quick, comfy summation of available investments.I can agree with the part regarding US slowdown later this year, which is when the US recession may be too obvious to be denied. But that would improve the case for gold and make only a small dent in many of the named "commodities". Flatliner (4/19/06; 12:17:25MT - usagold.com msg#: 143367) What is a limit up limit? Someone know off hand what we might all expect for limit up shutdowns on the different world markets? For instance, what price jump stops the London market from trading? US markets? Asian markets?Thanks. Rimh (4/19/06; 12:04:07MT - usagold.com msg#: 143366) Survivor Perhaps the re-pricing of which he speaks will make the 1980s spike look like a speed bump next to a high hill..... Survivor (4/19/06; 11:51:57MT - usagold.com msg#: 143365) Re-Pricing I wonder what was meant by the "Once in a lifetime" quote. This sure feels a lot like deja vu/1980 to me.- Survivor mikal (4/19/06; 11:49:53MT - usagold.com msg#: 143364) @Mr. Gresham I'm assuming that was FOA and not Another.FOA promised to return when the "rain" comes.I agree the price trend occurring in these five or six years of the bull market is just the beginning.Would be fun to see the afterhours market OTC access revalue Au in one fell swoop this spring, or any time and place.May happen this year or next, or as early as this spring or summer IMO. Mr Gresham (4/19/06; 11:35:13MT - usagold.com msg#: 143363) Re-Pricing "Gold will be re-priced but once in your lifetime." (quoted from memory)Wonder if he checks in now and then? Actually, the story has gone worldwide now. I'll bet our old friends "in the know" are busy battening down their hatches along with the rest of us... Goldilox (4/19/06; 11:32:25MT - usagold.com msg#: 143362) Up into the close! Nice rally by the PMs into the Crimex close. Rimh (4/19/06; 11:28:29MT - usagold.com msg#: 143361) Goldilox, Survivor Yes, perhaps the move by Albertans is twofold: They are a resource rich province so to hold gold is fairly close to their roots; and they are a rich bunch with all those oil revenues (Klein, the premier, recently gave everyone a $400 bonus and they still have the lowest taxes in the country) giving them lots of extra spending cash to put into gold - I mean, how many pickup trucks, ATVs, boats, etc. does a guy need before he has to spend his money on some real wealth.... Survivor (4/19/06; 10:58:10MT - usagold.com msg#: 143360) Alberta - A Touch of Coincidence? We were living in Alberta when I first "got the message" about fiat currency and PMs. That was in the mid 70's. As I've suggested here before, AG and AU were very kind to us around 1980.- Survivor Goldilox (4/19/06; 10:50:42MT - usagold.com msg#: 143359) Albertans @ Rimh,I did not mean to say there were gold fields in Alberta - why, one might start a false gold rush with such a brash statement - just that they were "closer" to them than other points of reference.Given the high concentration of mining representation on the Canadian exchanges, "closer" can be interpreted in more ways than geographic.It's even more interesting that Canadians, whose currency seems less at risk than the sawbuck, are flocking to PMs ahead of such movement by the US populace. Knallgold (4/19/06; 10:37:06MT - usagold.com msg#: 143358) Gold/Silver There was this plausible theory (pandagold etc.) that the manipulation of Silver is an integral part of the Goldmanipulation scheme.Now either 1)they push Silver to distract a lot of money from Gold2)the Silver manipulation is blowing up now in advance of Gold3)POG reflects that there just is not enough metal available and big money knows it TownCrier (4/19/06; 10:27:22MT - usagold.com msg#: 143357) Did you know... http://www.usagold.com/gold-coins.html Last week, amid typical activity associated with the Central Bank Gold Agreement (i.e., reallocations of bullion), one of the Eurosystem central banks actually **BOUGHT** GOLD COINS?They also dumped a net 0.1 billion euro worth of foreign currency.R. Rimh (4/19/06; 10:17:18MT - usagold.com msg#: 143356) FYI, Goldilox To the best of my knowledge there are no gold fields in Alberta, just lots of oil. Of course, that doesn't disqualify them from being smarter than the average individual and holding physical gold in hand (over paper gold or whatever you want to call it). Thansk for the article - good to see someone's finally recognizing gold and silver's value!!! USAGOLD / Centennial Precious Metals, Inc. (4/19/06; 09:02:42MT - usagold.com msg#: 143355) Serving Gold Investors Since 1973. Proven Reliability, Longevity, Quality and Professionalism! http://www.usagold.com/cpm/aboutcpm.html The Invisible Hand (4/19/06; 08:49:23MT - usagold.com msg#: 143354) From my own correspondent – Re: gold bashing http://www.free-europe.org/blog/english.php?itemid=56 The answer to the gold-bashing question will solve ALL the mysteries of the goldmarket.Gold (metallic gold) is the one and only all-comprehensive competitor of the financial-monetary industry (the AngloAmerican-dollar-model).This industry has only one trump, i.e. PERMANENT MONETARY DEVALUATION through money-creation. The industry has only one task, i.e. to keep the whole mess LIQUID AT ANY COST. This can only be achieved through the exclusion of metallic gold (from the system). Paper gold within the system, metallic gold outside the system.Historically, the industry has often been faced with liquidification problems.Since 1971 – 1980, the bashing of metallic gold in possession has become the main foundation upon which the whole liquidification is built. An indication of this is the fact that the stock and bond markets are being kept very liquid (through hyper-derivatisation), whereas the price of gold (POG) can no longer be called contained.We are being told that gold and oil would increase in price because of international tensions. But why do the stock-markets then not crash or at least decrease in value? Very good question, Madam. Unfortunately, this is a conundrum (1) and we can thus not provide you with an answer.Conundrum? No, the whole dollar system is about to implode and the elites know this but they are still hoping for a miraculous solution, they are hoping for a deus ex machina (2). By liquidifying to the extreme, the gearing ratio (degree of debt?) increases faster than the economic growth. This results in massive (explosive) saving/reserves surpluses and similar deficits. The liquidificators want to force those surplus-builders by all means to stimulate growth (Asia and petro-wealth). The latter are however not prepared or not able to proceed to this stimulation because of the all-encompassing dominance of the dollar-liquidificators … who (the latter) can only supply "liquidity" and nothing else, With those surpluses, one can buy nothing from the dollar-debt producer (the US of A).The whole world, outside the US of A, is thereby FORCED to mutually transact business with a dollar-unit which has no legal tender outside the borders of the US of A. This explains why the old dollar IMF protocols will soon be ignored and why it is already too late to reform the dollar-dominated IMF. This explains also why the EU slows down the gold-collaboration and why Gordon Brown, Her Majesty's Chancellor of the Exchequer, could not mobilise the IMF gold (sale - partial revaluation). It also explains why the Rothschild family left the gold-fixing business long ago.Even if Asia would ever be granted its legitimate power in the IMF … it will never respect the old IMF protocols. By accepting and using the IMF-dollar-regime, Euroland has respected these protocols for decades.Asia looks forward to nothing less than a complete transfer of power.So, my dear cowboys, get ready for Armageddon in the US of A.notes(1) a conundrum is a riddle whose answer involves a pun, says Webster's, a pun being the humorous use of a word or phrase so as to suggest its different meanings or the use of words that are nearly alike in sound but different in meaning(2) a deus ex machina would be a resolution, says Wikipedia, to this story which would not pay due regard to the story's internal logic and which would be so unlikely that it challenges suspension of disbelief; allowing the elites to conclude the story with an unlikely, but more palatable ending. Goldilox (4/19/06; 08:21:22MT - usagold.com msg#: 143353) Gold, oil hit fresh highs, get more mainstream support http://www.mineweb.net/sections/whats_new/247041.htm snip:JOHANNESBURG (Mineweb.com) -- Anyone needing further proof that investment in commodities like gold and oil have gone mainstream, got it last night. Jim Rogers, celebrity investor, bestselling author and famous for his apparent insights into commodity markets, is the latest to join the cheerleaders. In an interview with Bloomberg published overnight, the until now muted Rogers added his voice to those who believe oil, gold and other commodities have entered a Super Cycle. He expects the upswing to last some years and drive prices much higher. Rogers raised the bar for gold, predicting a peak of $1 000 an ounce although he has not set a time limit. His public pronouncement follows the forecast of $850 earlier this month by Paul Walker, who as chief executive of respected gold market researchers GFMS is another "serious" commentator. Just how opinions have changed is reflected in skeptical response last December to cycles analyst Issy Bacher's $700 forecast on Moneyweb Radio. Then gold was trading at $490. Last night (April 18) in New York it set a fresh quarter century high of $624, adding almost $10 on the previous day. Bacher remains upbeat, but warns the next barrier will be far tougher to crack than the $600 mark bullion cruised through this week. He reckons $700 was the "true" high of the 1979/80 gold bull market, with the spike to the record $850 being more froth than substance. But as in December, the investment crowd is not paying much attention to Bacher's views. This time he is regarded as overly conservative. Commodities are now highly fashionable. With relatively small proportions of their portfolios allocated and the flow of money from institutional investors being stimulated by the likes of Rogers, the boom might have only just begun. Rogers is sure to be quoted in dozens of professional fund management meetings today having pointed out that the shortest commodity bull market on record lasted 15 years; the longest 23. The latest cycle, the start of which global investment guru George Soros's former partner predicted in 1999, is barely four years old. And, for the moment, this young bull it is able to draw strength from a seemingly never ending stream of positive data. Last night's buying pressure, which also took the crude oil price to a fresh peak (Nymex up 95c a barrel to $71,35) was aided by news from China that its economy grew at an annual rate of 10,2% in the first quarter of the year. Stronger growth from China, naturally, translates into higher demand for the commodities its economy absorbs as it expands. And as we haven't seen a significant oil discovery in three decades or a major new mine in ten years, supply has no way of catching up anytime soon. Which means higher prices. In the past year, crude oil is up 54% and the gold price is 48% higher. With virtually all the experts calling prices higher still, some feel it is becoming scarily reminiscent of the 1999/2000 dot.com bubble. But as the current upswing is a calf compared with the 22-year bear market which came before, it Is far too early to start worrying. Especially when, in real terms (inflation adjusted), both oil and gold are some way off the peaks established in the previous cycle. In the ultra short-term another exciting day beckons for the resource-laden JSE, with the All Share Index poised to break through 21 000 for the first time. On top of the boost it will receive from the higher gold price comes last night's best-in-a-year increase on Wall Street where the Dow and S&P rose 1,8% and the Nasdaq 2%. The New York equity surge came on fresh evidence that the US's upward interest rate cycle is drawing to an end. Few seem to have made the connection that rising commodity prices are inflationary. That, in turn, needs to be combated through raising interest rates. In the market's current mood, thinking that far ahead simply does not come into the equation. For the moment, the trend is the market's friend. Enjoy the ride.-GoldiloxJim Rogers, THE LATEST?Was this article written in Y2K, or what? mikal (4/19/06; 08:17:32MT - usagold.com msg#: 143352) Obsolete quote! http://quotes.ino.com/chart/?s=CBOT_US.M06 INO Charts and Quotes - Interest Rates - T-BOND Jun 2006 (CBOT:US.M06) 5 Day viewA chart. Nothing out of the ordinary.-.50 @ this time, subject to comfortable, modest, moderate and mild change. mikal (4/19/06; 08:08:24MT - usagold.com msg#: 143351) Journalist explores boring world of gold http://www.marketwatch.com/News/Story/Story.aspx?siteid=mktw&dist=moreover&guid={F1CB3815-BD6B-4DBB-9D5B-1B13F240330B} Gold keeps climbing, up $4 to 25-year high | MarketWatch | Ciara Linnane | 8:37 EST, April 19, 2006No effervescence or objective coverage here, thank you. Goldilox (4/19/06; 07:59:04MT - usagold.com msg#: 143350) It's a gold rush as savers sock the bars away snipped from "Globe and Mail" (competitor names removed):Don C. has worked at xxxx in Calgary for more than a decade and, with the small exception of some pre-millennium panic buying, he's never seen so many customers carting off silver bars and gold coins."I've been in the business since 1991 and these are new highs for me, for both metals," the general manager says.He's not the only one surprised by the growing appetite. In Ottawa, silver demand at the Royal Canadian Mint tripled in the first quarter. yyyyy, a global gold dealer based in Montreal, has hired 10 new salespeople to take calls, while another distributor, based in B.C., is busy shipping coins across the country.Rising geopolitical tensions and record oil prices are boosting the allure of precious metals, sending gold to its highest level since 1980 and silver to a 23-year high yesterday.But it's not just exchange-traded funds or mining company shares that are popular. Canadians -- and investors around the world -- want the real, physical stuff.In Calgary, Mr. C. is seeing huge interest from middle-aged and older people who have cash on hand and want to park it in gold and silver."We're seeing a lot of new faces," he said. "It's basically cash-and-carry. People like to have it in their hands."Like other dealers, Mr. C. says silver demand is particularly strong. Sales of 100-ounce silver bars are surging and, at $1,692 a pop, many customers are buying several bars at a time. Clearly, silver prices that have already surged 58 per cent this year aren't deterring clients. Coins are also selling at a steady clip, he said.While Albertans may be the biggest buyers of gold and silver these days, interest is growing across the country.At the 98-year-old Royal Canadian Mint, investment demand for silver Maple Leaf coins more than tripled in the first quarter while demand for one-to-10-ounce gold bars doubled, said David Madge, the Mint's executive director of bullion and refinery services. He expects silver sales this year will be the best in a decade.You know commodities are hot when people are pawning their old gold and silver trinkets to the Mint.The Mint's recycling business, which buys old jewellery or silver flatware from individuals and turns them into coins and bars, has soared in recent months in lockstep with the run on commodities prices. Thus buyers of Canadian gold coins can't be certain whether they're derived from Aunt Bessie's wedding ring or come fresh from the mines.yyyyy, the world's largest Internet-based bullion dealer, knows this better than most. It added about 10 salespeople to its desk earlier this year to field floods of incoming calls.Investor interest has soared for several reasons, said J, yyyyy's investment products analyst. Demand in China and India is growing, while supply is dwindling. Worries about a decline in the U.S. dollar are mounting. Energy prices are soaring and tensions in Israel and Iran are rising.Those factors are prompting more people to see gold as a hedge in their portfolio, he said."It's very, very strong and across the board, and not just in Canada," he said. "People are feeling more comfortable with holding gold than they had before."In B.C., Martin L. is managing director of the country's largest direct distributor of Maple Leaf coins. His company, zzzzz, is seeing everyone from plumbers to bankers adding precious metals to their holdings."People in the trades, who have their own small companies, you see them buying and putting 5 to 10 per cent of their portfolio in gold," he said. At the same time, "a lot of business people, with higher income, are putting high hundreds of thousands or even a million or two million into gold."GoldiloxHere's an article that suggests, at least in Alberta, that "Everyman" is getting in on the "gold rush" - maybe the Albertans, closer to the gold fields, are still ahead of the larger masses.The first interviewed dealer, however, has only been in the business since 1991, so he cannot compare his experience with 1980. Too bad. The Invisible Hand (4/19/06; 02:12:24MT - usagold.com msg#: 143349) High oil prices curbing growth, warns Opec http://news.ft.com/cms/s/0a10f2ec-cf00-11da-925d-0000779e2340.html SNIP Opec warned on Tuesday that soaring oil prices were slowing global economic growth as one of its most vocal members admitted there was little the group could do to reduce prices from yesterday's record highs. ==Connect the dots! The Invisible Hand (4/19/06; 02:05:38MT - usagold.com msg#: 143348) OPEC cannot increase production http://www.iranmania.com/News/ArticleView/Default.asp?NewsCode=42102&NewsKind=Current%20Affairs SNIPIran is against an increase in OPEC production, an official was quoted as saying, arguing that the cartel did not have the capacity to do so, according to an AFP report. Goldendome (4/19/06; 00:32:56MT - usagold.com msg#: 143347) Gold's a (b)itch! Invisible Hand: I got a kick out this quote from the excellent article you post:"He believes it makes sense to have around 3 to 5 per cent of a diversified portfolio in gold."What a laugh! That percentage is nothing compared to what a person now should have accumulated if financially able to do so. Most reading on this site, I would guess, have way over that percentage. It's true though...There's no rush like a Gold Rush. I've been to three shops the past couple of weeks (at home and away). In two of the three, Gold was basically gone. Silver bullion was going fast too. I watched one construction man drop $5,000.00 on the counter at a shop in Pocatello, Idaho, two weeks ago and haul away the silver booty. Got me so excited, that I hauled out everything that I had in my pockets at the time--about $700--and hauled off a lot of the rest! And hell! I wasn't even that interested at the time in Silver. I hadn't bought silver since it hit $6.50 a few years back-- and had become too heavy to carry...I had decided that was enough. But there I was, hauling out more at higher prices. Was I nuts? Yes! Maybe. It's the fever! The greed! The avarice! It's what gold and silver does to a man in a Gold Rush! Another fellow looking at the fancy high-end, high priced MS Silver Dollars, asked the counter person if she had any specials on Silver that she wanted to get rid of. She laughed and responded, "The cupboards bare, Now!"-------------------The question: Why does the gold bashing continue?My answer: Fear, control, and containment. ViewYesterday's Discussion.
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