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ARCHIVED DISCUSSION FROM 8/21/2001
All times are U.S. Mountain Time

(Yesterday's Discussion.)

Black Blade (8/21/01; 22:53:54MT - usagold.com msg#: 60062)
7000 Year-Old Thracian Gold
http://www.travellady.com/ARTICLES/article-mfaexhibits.html

Some Thracian gold artwork supposedly predates the Pharoahs of Egypt.

Snippit:

The ancient Thracians created the oldest gold objects fashioned by human hands. In the dim gallery, spotlights dramatically illuminate spectacular gold and silver bowls, drinking vessels, jewelry, armor, tools and horse ornaments, some dating back as far as 7000 years. More than 200 rare objects in the exhibition that were unearthed by farmers and others digging in the land once known as Thrace, that vast expanse of mountains and valleys on the Balkan peninsula north of Greece.

Black Blade (8/21/01; 22:36:49MT - usagold.com msg#: 60061)
U.S. oil rockets as gasoline demand sparkles
http://biz.yahoo.com/rf/010821/n21127230.html

Snippit:

NEW YORK, Aug 21 (Reuters) - U.S. oil prices roared higher Tuesday fuelled by declines in crude and refined product stocks as U.S. motorists burned through gasoline supplies at a frantic pace. ``What we're seeing here is incredible demand,'' said Phil Flynn of Alaron Research in New York. ``If this economy is measured in miles per gallon something good is happening.'' Assurances by major OPEC producers of compliance to new output quotas, which will cut a million barrels daily from the group's output from Sept. 1 also underpinned the market.

Black Blade: Rising energy costs in a deepening Recession means a "Perfect Storm" on the horizon. Cheap gold looks better all the time.


BR549 (8/21/01; 22:30:32MT - usagold.com msg#: 60060)
Golden History
OK, students! Gold History Class is again in session.

Upon reading our student's homework, the following is worth mentioning to the rest of the class:

Uponroof, "I did not think the GOLD! documentary was slanted. You need to look at it from a precious metals uneducated view, as most of America is. Nothing devious or bias, so far*, with which to brainwash the already dead masses. I suspect we will get a good dose of bias in the last segment (Friday) which is called 'Cold Hard Cash'. Pretty good I thought. Some very interesting facts on Pizzarro and General Custer and how gold was behind all the moves they made."

Grade---an "unbiased "A".

John Doe, "The message I gleaned was that "mankind" has been stupid, evil, and destructive in its historical pursuit of gold. On the surface, this may well be true, but the real, driving issue isn't gold per se, but those noble human attributes known as theft, dominance, and attaining/retaining the means of control."

True and thank you for your turning in your homework assignment on time. Please note tomorrow's episode pertains to your contention that the desire and lust for gold has fueled wars throughout history. Greed and power has been instrumental, much as it is now. The "modern monetary system will be forthcoming" in episode three.

Grade--Your commentary deserves an "A".

Max Rabbitz, "I was disappointed. I had hoped they would start at the beginning, perhaps Egypt, or the first use of gold coins and their use in trade. What about the Byzantine empire's economic stability?"
@Max—If you read your Homework assignment on what is coming---The first world coins were minted by the Sardis. Most early cultures traded precious metals. In 2500 B.C. the Egyptians produced metal rings for use as money. By 700 B.C., a group of seafaring people called the Lydians became the first in the Western world to make coins. The Lydians used coins to expand their vast trading empire. The Greeks and Romans continued the coining tradition and passed it on to later Western civilizations. Coins were appealing since they were durable, easy to carry and contained valuable metals.

Grade--An "A" for now.

Sierra Madre (msg#: 60048)
BR549....How was the History Channel program?
I hope you liked it. I missed it. Perhaps I'll catch tomorrow's segment.

Grade "A" but @ My new friend Sierra—No more cutting class unless you spend it with your loved one.

BR549-Typical History Channel presentation, and to the above, a big smile and thanks for the comments. The jury is still out on whether this series is worthwhile. Let's give it ‘til Friday.

Grade-Incomplete until Friday.

All students of gold----Please be patient and do your homework on the History of Money and you will find that regardless of the reasons, war, greed, politics, that gold has reigned supreme throughout History.

Class dismissed until tomorrow night!


Black Blade (8/21/01; 22:03:02MT - usagold.com msg#: 60059)
The British Auschwitz
http://www.boer.co.za/boerwar/hellkamp.htm

Snippit:

According to a British journalist, WT Stead, the concentration camps were nothing more than a cruel torture machine. He writes: "Every one of these children who died as a result of the halving of their rations, thereby exerting pressure onto their family still on the battle-field, was purposefully murdered. The system of half rations stands exposed and stark and unshamefully as a cold-blooded deed of state policy employed with the purpose of ensuring the surrender of people whom we were not able to defeat on the battlefield."

Black Blade: More info on the Brit concentration camps during their theft of SA Gold. And after all this, only to sell it off in a series of auctions. "Interesting."


BR549 (8/21/01; 21:36:10MT - usagold.com msg#: 60058)
Gold Manipulation
uponroof (msg#: 60055)--
"sector-If they ever do a documentary on GOLD MANIPULATION! I want you doing the expert commentary."

sector (msg#: 59936)-
"About the "Whirlwind of Speculation"

sector I second your nomination by uponroof about doing the expert commentary on Gold Manipulation.

I would also co-nominate Randy's brilliant Friday post at site steward (msg#: 59845).

If you missed them, it is well worth the trip back.

Great Stuff!



John Doe (8/21/01; 21:30:57MT - usagold.com msg#: 60057)
@BR549
"@ALL---
For those that watched The History Channel about GOLD, any opinions of whether this first segment was biased against goldbugs?"

The message I gleaned was that "mankind" has been stupid, evil, and destructive in its historical pursuit of gold. On the surface, this may well be true, but the real, driving issue isn't gold per se, but those noble human attributes known as theft, dominance, and attaining/retaining the means of control, i.e., the money function, which at that time in history just happened to be gold. I surmise no mention of the modern monetary system will be forthcoming, or if it is, its panoply of defaults adn shortincomings will be glossed over as "much better than gold ever was."

I think that Peter Bernstein, the author of "The Power of Gold: The History of an Obsession" was one of the commentators, as well as someone from the WGC. The Bernstein book had been discussed here before as pretty establishment-oriented. Between him and the guy from the WGC the tone and direction of this series has been pretty well set. You, I, and the general public will learn a few interesting historical facts, but none of the truth about gold's real, ongoing monetary function.

The Blanchard commercial was actually pretty good, but they were hawking numismatics, not bullion, which makes sense. The numismatic market can't really hurt the current bullion manipulations.

Other than that, I found starting a four-part, four hour history of gold in 1492 AD pretty lame. Maybe they'll back up and cover earlier periods later, but that will simply add to the confused and disjointed presentation they've already embarked upon. Any of a dozen regular posters here could write a better, more informative telescript for gold off the top of their head.

Max Rabbitz (8/21/01; 21:26:53MT - usagold.com msg#: 60056)
History Channel Gold Program Review
I was disappointed. I had hoped they would start at the beginning, perhaps Egypt, or the first use of gold coins and their use in trade. What about the Byzantine empire's economic stability? To start with the rape of the America's by some misguided zealots was pandering to Hollywood tastes. I thought it boring. I vote for bias although it may be more simple minded than deliberate.

The History Channel has presented some good material and sometimes controversial (Kennedy Assassinations, U.S.S. Liberty attack). I find C-span's weekend non-fiction book reviews by the authors to be often an excellent source of history. Maybe they'll have G. Edward Griffin on after the veil gets ripped from the financial temples.

uponroof (8/21/01; 21:06:28MT - usagold.com msg#: 60055)
correction
POG up 12+ bucks from Aug 7 to Aug 17. Dutch sold 4 tns gold from Aug 13-17. (The American Advisor)


GOLD!
I did not think the GOLD! documentary was slanted. You need to look at it from a precious metals uneducated view, as most of America is. Nothing devious or bias, so far*, with which to brainwash the already dead masses. I suspect we will get a good dose of bias in the last segment (Friday) which is called 'Cold Hard Cash'.



sector-If they ever do a documentary on GOLD MANIPULATION! I want you doing the expert commentary.

good job!

Black Blade (8/21/01; 21:02:19MT - usagold.com msg#: 60054)
RE: BR549

"Give that man a cigar!" - You got it!

BTW, I only got in to catch the last half hour of "GOLD." From what I saw, it was pretty good. I thought the peice on the Brit "Concentration Camps" in SA was quite interesting.

Black Blade (8/21/01; 20:56:01MT - usagold.com msg#: 60053)
Bleak Prospects for Jobs Greet This Fall's Business Graduates
http://public.wsj.com/sn/y/SB998338295741410370.html

Snippit:

Business students, barely recovered from their protracted hunts for summer internships, face even bleaker prospects for permanent jobs as classes resume in the coming weeks. Many major corporations that wined and dined M.B.A. candidates last fall intend to curb their campus recruitment efforts this school year.

Making matters worse, business students finishing school next spring must compete with recent M.B.A. graduates who have yet to find work or became jobless following the dot-com downturn. In addition, many companies "wish that they had not made as many offers as they had made to the 2001 class," says Bruce G. Willison, dean of U.C.L.A.'s Anderson Graduate School of Management, noting that some companies had asked these new hires to defer their start dates.


Black Blade: They didn't even get the chance to get employment before being tossed upon the "Bone Pile." Just think of all the recent Computer IT graduates. These graduates had better brush up on saying: "Would you like fries with that sir?" This Recession is going to be a bruiser.


sector (8/21/01; 20:52:47MT - usagold.com msg#: 60052)
@auspec Actually The Algorithm Does Return Degrees of Manipulation
http://www.goldensextant.com/commentaryBA.html#anchor65565
What makes it sensitive is the relative nature of the test. If LBMA sells gold down X and COMEX sells it down 3X (from the PM fix) then we get a hit for that day.

Examining the 15 year history of COMEX (each day) trading one finds two epochs---In the first trading displayed essentially normal counter trend and preemptive selling. In the second epoch there were huge preemptive selling events far higher in frequency that any other time in the data range. These spikes in preemptive selling pierced the three and even four standard deviation levels. In this data series a four standard deviation selling event would be expected to happen only once in 833 years of trading. The intervention began in earnest within weeks of the board seat assumptions of William McDonough and Alan Greenspan at the Bank of International Settlements.

So when I first formed the algorithm and first saw the manipulative pattern it was as if I was the first person witnessing a crime scene. I know when the first day of intervention began, I know when the agents of the Federal Reserve first began their misdeeds.

More importantly GATA knows too---and they know much more that hasn't been revealed.

BR549 (8/21/01; 20:49:39MT - usagold.com msg#: 60051)
History of Gold on History Channel Part 1--"Then the gold ran out and Spain was bankrupt." Any lesson for modern times?
Black Blade (msg#: 60046)

Black Blade: "Yes. Spain became wealthy with gold from the America's yet they became "Fat and Lazy." They lost the talents and skills of producers. When the gold was gone, all that was left was a desperate nation in a vastly changes world. The lesson in my point of view is that in the US we are now mostly a "service economy" with very little in talent and skill necessary to survive in the "Real World."

Do you mean----that we have sacrificed our expertise in manufacturing to the rest of the world in exchange for becoming a service economy?

Do you mean---like the modern arrearage burdened debt ridden gluttonous US consumers who borrow money on their only real assets, such as real estate from banksters, to reduce their credit card debt where they can buy more new cars and other goods and services beyond their means.

Do you mean--the country that via GATT and NAFTA has given away their technology and manufacturing technology and advantages to the rest of the world?

Do you mean---a service oriented economy like what the banksters, shysters, insurance companies and federal government represents that do not have any immediate GDP benefit to its citizens?

Do you mean---the US economy that ships its manufacturing productivity, even for defense systems, to foreign manufacturing because it is cheaper for bottom line oriented US sub-contractors and corporations because it is profit at all costs and the US total economy and well being be damned?

Yeah, well, sort’a


@ALL---
For those that watched The History Channel about GOLD, any opinions of whether this first segment was biased against goldbugs?


uponroof (8/21/01; 20:38:15MT - usagold.com msg#: 60050)
History Channel GOLD!
Pretty good I thought. Some very interesting facts on Pizzarro and General Custer and how gold was behind all the moves they made.

poor old solomon. speaking of the WGC

Notice one of the commentators, for the 'GOLD!' documentary, was from the World Gold Council? Strange they can provide an 'expert' commentator but can't provide an advertisement (commercial) between segments. Merril Lynch and Blanchard were smart enough to sieze the moment.....but our 52 million dollar WGC strategists were not interested in buying any TV time. Those aholes would've run an ad for jewellery anyway.

btw-The Dutch sold 4 tonnes of gold last week...and we moved up double digits


Black Blade (8/21/01; 20:35:28MT - usagold.com msg#: 60049)
Argentina pays workers in bonds
http://news.bbc.co.uk/hi/english/business/newsid_1501000/1501239.stm

Snippit:

As Argentina's talks with the International Monetary Fund (IMF) drag on - with still no word on whether the country will get a much-needed aid package - the situation at home is getting worse. From this week 150,000 people who work for the state of Buenos Aires won't get all of their salary paid in cash. Some of it will now be paid in one-year bonds, called "patacones", nicknamed after a long defunct currency.

McDonalds is set to accept the new currency. Already McDonalds in Buenos Aires is planning to accept the currency and is launching a special meal deal called the "Patacombo". The fast food chain McDonalds will also accept them in exchange for its new Patacombo meal - two cheeseburgers, french fries and a drink.

Black Blade: Yeah, that'll work. Cheeseburgers, fries, and a coke every night. Hmmm…


Sierra Madre (8/21/01; 20:31:58MT - usagold.com msg#: 60048)
BR549....How was the History Channel program?
I hope you liked it.

I missed it. Perhaps I'll catch tomorrow's segment.

Anyway, if you think was OK, or great, that's fine with me.

I posted my "warning" to show I don't trust these people at all. If you think the program acceptable, then I'll suppose it is acceptable. I don't want to argue! I just thought you, and others at this Forum, would not find it acceptable.

I may be mistaken. I hope I am.

Sierra



Black Blade (8/21/01; 20:11:17MT - usagold.com msg#: 60047)
Forbes Body Count
http://www.forbes.com/2001/01/30/layoffs.html

The "Bone Pile" is nearly 600,000 deep. Looking ugly as the Recession deepens and the Bear growls louder. The Federal Reserve's pathetic attempt at propping up the economy with scraps from their table has failed miserably as the markets plumment in response. Even Pied Piper Abby Joseph Cohen has capitulated and admitted defeat this morning by lowering her rosy view of thye market indices. She now says that high energy costs and lower earning have done in the economy. In effect she is crying "Uncle."

- Black Blade

Black Blade (8/21/01; 20:03:23MT - usagold.com msg#: 60046)
RE: BR549 (8/21/01; 19:34:35MT - usagold.com msg#: 60042)

History Channel Gold-

Spain was number one in the world when Philip II of Spain reigned and ---"Then the gold ran out and Spain was bankrupt."

Any lesson for modern times?

Black Blade: Yes. Spain became wealthy with gold from the America's yet they became "Fat and Lazy." They lost the talents and skills of producers. When the gold was gone, all that was left was a desperate nation in a vastly changes world. The lesson in my point of view is that in the US we are now mostly a "service economy" with very little in talent and skill necessary to survive in the "Real World." If the economy of the US were to fail, what "Real World" skill do you have to survive? We are no longer an agrarian society. Think about it. Gold is insurance not to be sqaundered.


BR549 (8/21/01; 19:59:27MT - usagold.com msg#: 60045)
Gold History Part 1 of 4
So anything slanted towards the anti-goldbug agenda in the first episode of GOLD on the History Channel?



Black Blade (8/21/01; 19:42:02MT - usagold.com msg#: 60044)
RE: Econoclast (Blanchard Letter), and The Stranger

RE: Econoclast

From what I know of Jim Blanchard, I am surprised at the current philosophy of the company that bears his name. He was one of the early pioneers to advocate the legal ownership of gold. I suspect if his body were exhumed it would be obvious that he has been spinning in his grave. The position stated in that letter is the very opposite of everything that he stood for. Very strange.

RE: The Stranger

Where the hell ya been? Good to see you back.

Watching the last half hour of GOLD on History Channel.


pdeep (8/21/01; 19:41:58MT - usagold.com msg#: 60043)
The Medium is the Massage
Is the message.

BR549 (8/21/01; 19:34:35MT - usagold.com msg#: 60042)
History Channel Gold-

Spain was number one in the world when Philip II of Spain reigned and ---"Then the gold ran out and Spain was bankrupt."

Any lesson for modern times?


White Hills (8/21/01; 19:24:48MT - usagold.com msg#: 60041)
auspec
Your number is Ticket 1D, Numbers 01-02-12-16-46 powerball is 23, I was in Gold Basin area just off the road from Dolan Springs to Meadville west of Kingman about 40-50 miles, as a former resident of Mohave County Good luck on the drawing, I think the odds are about 80,000,000 to one but then again the odds were far greater for being born. If we are alive we are already winners. Talk at you later in the week. White Hills

admin (8/21/01; 19:23:18MT - usagold.com msg#: 60040)
Client Letter. . . .Blanchard & Co.
Sir:
If I am not mistaken, Blanchard & Co were bought out by General Electric
quite some time ago. This might explain their gold view as derivative-loaded

GE Capital probably does not want gold to rise and interest rate futures
etc.
go haywire. Just a thought.

Yours truly,
C.P. (a customer and site follower)

- - - - - -

Our thanks to CP.

BR549 (8/21/01; 18:59:52MT - usagold.com msg#: 60039)
The Medium is the Message
Sierra Madre (msg#: 60018)-

When I was in school, many moons ago, I wrote an essay on Marshall McLuhan's The Medium is the Message.

When Marshall McLuhan wrote these words in 1963, the World Wide Web lay far in the future.

"By putting our physical bodies inside our extended nervous systems, by means of electric media, we set up a dynamic by which all previous technologies that are mere extensions of hands and feet and teeth, will be translated into information systems. Electromagnetic technology requires utter human docility and quiescence of meditation such as befits an organism that now wears its brain outside its skull and its nerves outside its hide. We must serve our electric technology with the same servo-mechanistic fidelity with which we once served our coracle, our canoe, our typography, and all other extensions of our physical organs. But, there is a difference here. Those previous technologies were partial and fragmentary. The electric is total and inclusive. An external consensus or conscience is now as necessary as private consciousness. With the new media, however, it is now possible to store and to translate everything; and as for speed, that is no problem. No further acceleration is possible this side of the light barrier." Mcluhan, Understanding Media - The Extensions of Man, 1963

I think that we are in perfect agreement as to the modoern media and I look forward to discussing it in detail. The concept of the value of gold has much to do with this modern conspiracy between the Fed and the modern media.

Back after the History Channel

The Stranger (8/21/01; 18:59:36MT - usagold.com msg#: 60038)
site steward and Cavan Man and a thought about Strong Dollar "Policy"
site steward - Thanks.

Cavan Man - as usual, you are very kind. Thanks. The Stranger always does precisely as well as his investments, no better, no worse. Hope you are doing well, too!

All - I'm a little rusty as to what has already been discussed in these halls lately, so forgive me if I offer nothing new. But I think way too much has been made of the "strong dollar policy". In a world of currency traders, highly leveraged hedge funds and monster-sized derivatives transactions, just what is it we think those men behind the White House curtains can do about the value of the dollar, anyway? In truth, they are powerless to impose any dollar policy, strong or otherwise, on the markets, and anyone who runs serious amounts of money knows it.

So, proclaiming a weak dollar "policy" only risks pricking a currency bubble which is every bit as dangerous, in its way, as was the recent NASDAQ bubble, probably more so. There ain't no way George W. wants to take the rap for doing something like that.

No, as the president recently said, the free market will decide the proper exchange value of the dollar, just as only the free market can.

Solomon Weaver (8/21/01; 18:43:30MT - usagold.com msg#: 60037)
(No Subject)
Econoclast

RE: Blanchard Letter.

I am working with very little information here....so I hope the letter you describe might be posted soon....could help to drive our thoughts away from the circle of speculations surrounding SDRs.

I sort of see companies like Blanchard and CPM (and several others who I could name but leave off in respect of our host) as the most honest of many. They are in essence brokers...they will make more money if they encourage us to trade in and out of their investments....but they do not....typically they issue fairly modest newsletters and mailings (and sometimes nice websites, none of which hold a candle to USA Gold) in which they may promote some nice deals....promoting them of course to the "converted investor". They will often point to current events as a reminder to the investor that gold more than ever represents a strategic investment in a portfolio which is geared towards protecting excess capital in advance of and during a bear market. The best of them to a tee seem to refuse giving any type of "price target"...something which is extremely common in stock broker materials.

If it is at all true that the WGC would have considered entrusting a single dominant company with close to $55 million of promotional money to promote gold...the primary message is that the WGC has absolutely no imagination and no guts on their own to really promote gold. The next issue is that such massive amounts of money would severely change the culture of a company like Blanchard....and it would put them out on a limb in public as being bullish on gold. What is wrong with being bullish? Well, honestly speaking, Gold bull mentality have "appeared to be wrong" for many years.

What is the very best form of advertisement and promotion??? Personal referals.....we all do it all the time. Keeping up with the Jones family too. Now how many of us have tried to convince a dear friend or a colleage (who may have just gotten fleeced in the stock market) that an investment in a few gold coins is "an asset without a corresponding liability"....I mean that knowledge is the real kicker right??? (remember the old Sinatra song...OH they can't take that away from me....always runs through my head)...I can just see it now...a $10 million Ad campaign running prime time....beautiful gold flipping in the air...wooosh wooosh wooosh...and then falling....landing in the hand of a nice old Grandpa who with a big smile opens up his hand with a big smile....a little tiny hand reaches in to touch it and a little 5 year old with big eyes of wonder looks up at dear old Gramps....then the voice over says..."thinking of leaving some of your retirement money to the family?....GOLD....the investment that doesn't bear a corresponding liability." 15 seconds...that is all you need....run it over and over...the same simple spot....a single gold coin.....people will go to bed....and suddenly after seeing the ad every night for a week will suddenly wake up and wonder...nice ad..but what does that thing about "corresponding liability"..

...here's another one....if the WGC has $55 to advertise with....why not make a deal with Regis.....all winners of $250,000 on the millionaire show have the option of getting a 1000 ounce gold ingot (and of course, the decision dejour will require and announcement as to the current spot price of gold on that day). WGC pays the difference on the spread about $250 per ounce....Hey and don't you think we could get the Federal Government to agree that the winner of the gold can defer tax payments in fiat until the asset is liquidated???? I mean, a guy like Regis should be able to negotiate some kind of sweetheart deal for the sake of the most popular game show ....I mean even Senators like that show.

Or how about this one.....Ford is in trouble right???? OK....together with the WGC....An ad that says.....go down to your local Ford dealer...fill out a form to get a 1/2 price gold eagle coin (1/4 ounce). Each purchase enters you in a drawing to be one of 1000 people to get a $10,000 rebate on a Ford of their choice...and the grand prize winner will be given a 1000 ounce ingot of pure gold in the shape of the Ford logo. It is not called a sweepstakes...it is called a Lottery.

These are the crazy kind of ideas that gold needs....and the WGC needs to be brave....Blanchard CEO has it in his gut that the problem of gold promotion is not in the money to do it...it is in the lack of real support of Gold at the WGC.....

Honestly speaking....would we all want to see MK get $55 million to spend on promoting gold.....first impulse is "of course we would"....but then go further....could it backfire on him? For now, USA Gold is a rather obscure site....can we really handle it if the masses started hitting it every day.....

just food for thought in the end....an MK, if you do get some say in all of this at the WGC....well, we are here to help you figure out how to us some Ad money wisely.....

Poor old Solomon

auspec (8/21/01; 18:37:19MT - usagold.com msg#: 60036)
sector
Per your post on 8-19-01:
"Perhaps this is easy for me to believe this activity {gold SDR games} since I also am the author of sophisticated fraud detection software---Preemptive Selling. This analysis conclusively shows COMEX irregularities. Once one visits a financial crime scene such as this, one gets attuned to a whole new lexicon and language---the language and domain of manipulators." END

My comments: You must have really fine tuned this software to be able to pick out a particular fraud/manipulation in the midst of rampant and ongoing market deceptions! Do you have some sort of scale or meter that quantifies the full spectrum of manipulations? For example, mild cronyism/deceit would be Lou Crookheiser and buddies front-running some Friday night stock recommendations, and a more moderate offense might involve a particular Lady and her Cattle Futures {how'd she stay out of pork bellies, protecting her own?}. The extreme end of fraud would have to be represented by ...........uh, er,.........ah, ....possibly, maybe,.......current fiasco by ESF, BIS, Treasury, Summers, Rubin, International MF, Clinton, and MaGoo? Can your scale really go that high? WOW!

In all seriousness, we hope to hear much more about your fraud detection software. Most interesting!
Kind Regards,
auspec

Gandalf the White (8/21/01; 18:36:35MT - usagold.com msg#: 60035)
Sancho's Question (msg#: 60026)
"Can you come up with some prose explaining everybody rising to a crescendo of excitement and exultation on an up gold move of a couple paltry dollars(less than one per cent) and then the successive gloom and doom of a similar drop a day or two later and life such as it is going on like that for several years. This whiplash is killing me, I want to see some ACTION!!!!!!"
********Certainly ! Such Goldheart reaction on an up move of a paltry increase in the price of gold is wishful anticipation of the forthcoming realism of King Aragorn III's vision of the "Thunder in the Night" proper pricing of the one and only instrument of true wealth, PHYSICAL GOLD. I have not the ability to see into the black hearts of the Nazguls that dump tonnes of paper gold on the COMEX Gold Futures to maintain control of the price of PHYSICAL GOLD, and do not understand their thoughts. However, age has taught this dumb ol'e Engineer a number of lessons about wealth. Pertinence, persistence and patience are items that assist one in overcoming the ups and downs of the markets. One must look upon the "down days" as another opportunity to gather more PHYSICAL GOLD as the price today is far far less that the amount of effort that I would have to expend to obtain an object consisting of 0.9999 purity of elemental Au. Now to go watch The HISTORY Channel to see the expended efforts of many others in their quests for PHYSICAL GOLD.
---
<;-)

R Powell (8/21/01; 18:23:30MT - usagold.com msg#: 60034)
Hello to The Stranger
Any thoughts on the state of affairs concerning gold and silver? Also wondering about where the big money flows with lower interest rates?
If you have any thoughts and the time to post, thanks. Anyone else??
Thanks
Rich

site steward (8/21/01; 18:13:22MT - usagold.com msg#: 60033)
Stranger...
Yes. In fact, would you believe as recently as the last 24 seconds?

I have been asked to thank you for your generous offer, but the chamber orchestra you saw in the lobby is booked through the end of the year.
:-)

R.

Cavan Man (8/21/01; 18:10:50MT - usagold.com msg#: 60032)
Hello The Stranger!!!
It is heart warming to see your post again Dave. Hope you and your family are healthy, wealthy and wise. Kind regards....CM

R Powell (8/21/01; 18:08:06MT - usagold.com msg#: 60031)
Rate cut and PM prices
Silver opened today on the Comex at 4.14
closed at 4.18 and is currently trading
in Sydney at 4.24
Gold is also up $2.10 to 276.80
Too bad the FOMC doesn't cut rates more often!
Rich

CoBra(too) (8/21/01; 18:04:37MT - usagold.com msg#: 60030)
Re - WGC-vs Blanchard
@ Econclast - read the letter a couple of weeks ago and
after some deliberation found it to be a pretty sarcastic response to WGC's offer to Blanchard.

After years of following WGC, or GFMS I came to the conclusion they are the hedging producers community "press".

A unity to suppress the real value of gold as a monetary asset and not as trinkets and bracelets adorning lots of real Indians (and others).

A great Midas just popped up at the cafe - go figure -
best cb2


The Stranger (8/21/01; 17:57:28MT - usagold.com msg#: 60029)
M.K. and/or Randy
Have you received email from me in the last 24 hours? Thanks.

Solomon Weaver (8/21/01; 17:45:53MT - usagold.com msg#: 60028)
CAN THE US MANAGE A SOFT LANDING FOR THE DOLLAR?
http://www.prudentbear.com/international.htm
Good piece by Marshall Auerbach at the Prudent Bear site on international issues .... this weeks topic is the dollar.

SNIPPET:

"The experience of Asia in 1997/98 should raise doubts about the likelihood of the soft dollar scenario, in spite of all of the benefits sketched out by Stephen Jen. Harvard professor Jeffrey Sachs noted that Asia's currency crisis was not fundamentally driven, but more a case of self-fulfilling withdrawal of short-term loans, one that was fuelled by each investor's recognition that all other investors were simultaneously withdrawing their claims from the region. In essence, panicked Western investors and opportunistic members of the leveraged speculating community created the equivalent of a vast bank run on the region. There was no "fundamental" cause for the massive devaluations that ensued in the wake of this run, the only "cause" in reality being a violent shift in sentiment, which fed on itself. Only after the fact of the withdrawal were the arguments about lack of transparency, crony capitalism, large current account deficits, and a fundamentally flawed growth model constructed to rationalise this panic."

Worth a look for those who have time.....poor old Sol.


USAGOLD (8/21/01; 17:37:09MT - usagold.com msg#: 60027)
Econoclast. . .
Before I comment extensively on the text you just posted with regard to Blanchard & Co., I would like to take a look at the actual letter you mention.

I can make a brief comment however at this time. Please keep in mind that these comments are based upon what you've posted which I have yet to verify.

If Blanchard indeed believes what you outlined, (after asking the obvious question about what they might be smoking over there) I would say that these conclusions comes from a crude understanding of what is going on in the gold market, and that if they would like to gain a better understanding, spending some time at this Forum and paging through our archives might be time well-spent.

Secondly, if any Blanchard clients, are scratching their heads over that letter, we invite them to come contact USAGOLD for their gold purchases. We haven't changed our position one iota. Every attempt to hold down gold in favor of a fiat currency in history has ended in failure. There is not doubt that this one will too. I think if Mr. James Blanchard (the man from whom Blanchard & Co. draws its name) were alive today, he would have politely mentioned the 1960s to this group and the attempt back then to hold down gold (which ended in complete and utter failure), the breaking of the London Gold Pool, and the subsequent explosion in the gold price, (from $35 to $875 once the lid came off) -- a set of circumstances very similar to today's. The last time we heard from Mr. Blanchard is when he ordered in "The Footsteps of Giants" just before his untimely death -- too bad as I had been looking forward to discussing that book with him. As it is, his last book, if I recall correctly, is titled: "The Confessions of an Unrepentant Gold Bug."

It seems that some are repenting. No, my fellow goldmeisters, we welcome Blanchard's clientele. We haven't changed our opinions about gold in the least. In fact, we are more solid today than we ever were here at Centennial Precious Metals/USAGOLD.

We welcome Blanchard clients' gold business. If you want to deal with people who still believe in gold, we're the ones. We're not going to cave-on on you.

Thanks, Econoclast, and please forward me that letter so I can comment more extensively. The World Gold Council references are of particular interest to me.


Sancho (8/21/01; 17:29:56MT - usagold.com msg#: 60026)
Gandalf the White
Your rendition of BR 549's Homework was very good. Can you come up with some prose explaining everybody rising to a crescendo of excitement and exultation on an up gold move of a couple paltry dollars(less than one per cent) and then the successive gloom and doom of a similar drop a day or two later and life such as it is going on like that for several years. This whiplash is killing me, I want to see some ACTION!!!!!!

auspec (8/21/01; 17:25:15MT - usagold.com msg#: 60025)
White Hills
Found some gold, eh? Are you up towards the Chloride area or in the mountains on the way to lake Mohave? I remember the Oatman mining area also. Are you scratching and digging or using exactly what means of 'mining'? I'll gratefully take part in your lottery if not too late, thanks.
Regards!

CoBra(too) (8/21/01; 17:17:18MT - usagold.com msg#: 60024)
Not News & (personal) Views ...
Gotta repeat the Privateers last paragraph as they are likely to be seen as prophetic - and as usual long after the fact.

quote
"That is why $US Gold is looking so good technically. That is why the outcome of the FOMC meeting on August 21 is so potentially dangerous, no matter what the Fed decides to do. And that is why what we are going through now is VERY likely to prove to be the last few days of calm before the storm." -unquote

In essence, it seems the old Greenspin magic finally went the way of all mirages, miracles and spin - to the dustbin of history. The super-hero of the greatest boom, ever - kazoom - overnight becomes Mr. Doom, and forever
stardom is hard to behold, as he shoud've been told.

If I may say, briefly talked with MK today and we've agreed how much more the participants of this site are prepared for - what our economic future holds in store. Even if I was a goldbug before, I might have thrown in the towel long before, hadn't I found this site, the Cafe and Gata, I might not sleep as tight tonight.

Thank you all for your "precious" input and thanks to USAGOLD's hard workers - ha, you too Randy, you're a real gem and so is George C., as well as Gillian and Marie - who've all helped to keep me on the right side of the coming tide.

Once in a while, I guess our hosts deserve some praise too - and as a very satisfied client I feel I may express gratitude, which was overdue - thank you cb2

Disclaimer ... caveat emptor! ... and don't construe the above as a solicitation to buy or sell at CPM, though I don't know a better place ;>) ... do you?

Netking (8/21/01; 17:05:32MT - usagold.com msg#: 60023)
USD / Euro
http://www.forexdirectory.net/chartsfx.html
The Euro continues to firm . . . last powering up to 91.76 against the USD(period low of 90.72). The next support level appears to be around 92 . . . the way things are heading, this should be breached in the very short term. Euro futures for the early part of next year appear to up to 96 against the USD.

Gold futures up to $282 +5.90
http://stockcharts.com/def/servlet/SC.web?c=$GOLD,uu[h,a]daolyymy[pb50!b200][vc60][iUb14!La12,26,9]

Got gold yet? - Netking

Cavan Man (8/21/01; 16:33:04MT - usagold.com msg#: 60022)
A Golden Oldie (more true today)
Hello Econoclast
"Future generations will feel that the 1980's was a time of easy living for the US, that we lived beyond our means, we failed to live up to our responsibilities and we failed to be realistic in facing up to our economic problems....We complain about the third-world countries and the amount of debt they have; but in one decade the United States of America went from the largest creditor nation to the largest debtor nation in the world. That's an enormous swing and I think it forebodes ill for us, and for the stability of the international monetary system, because the dollar is the reserve currency of the world."

John Connally
December, 1988

Econoclast (8/21/01; 15:59:58MT - usagold.com msg#: 60021)
Mr. Kosares, I hope this isn't stepping over the line.
I believe that I have seen this letter alluded to previously on this forum, however, I just recently received a copy of correspondence between Blanchard's CEO and the World Gold Council. The letter states that The Blanchard Economic Research Unit, with assistance from gold analysts, is completing a study that arrives at "some terribly negative conclusions about gold bullion". They then proceeded to ask the WGC to rebut the findings and answer the question "Are there any good reasons why an investor should buy gold bullion?"

Because the WGC can/will not address their question, Blanchard turned down the WGC's marketing money and has even gone so far as to say they will no longer maintain gold inventories or market and sell bullion.

The letter goes on to say that Blanchard has concluded that gold industry insiders’ interests are no longer aligned with gold investors, the world's confidence in gold has been destroyed, deliberate price fixing and manipulation but no actionable conspiracy due to sovereignty of CB's, blah, blah, blah. On the final page, in bold, they say "gold bullion has very little upside potential and its downside potential is much greater than you think".

When the largest dealer in the country throws in the towel, what does that mean?
Are we truly at the point of maximum bearishness, which is the beginning of a bull market?
Has Blanchard joined the ranks of the shorts?
Is gold truly relegated to the History Channel?
Why am I receiving this letter now, when gold is $20 off its lows and it seems that the low is a true and tested bottom for the market?

I read bullish analysis of the gold market every single day. I could easily list a dozen reasons that could raise the gold price, even independently of the other reasons. We all know that the only thing that has kept the market down is an expensive, coordinated effort that appears to be running out of ammo even as I type.

Why did Blanchard stick it out so long to give up now when the writing is on the wall?
If they truly had their clients’ best interest in mind, wouldn't they be doing what USAGOLD is doing, and advising everyone to load up at these fire sale prices?

Are they implicitly advising their clients to dump, in an attempt to coax out more physical into the market?

The letter I received is making my head spin with questions. The answers that come to mind do not reflect positively on the (ex) largest dealer in the country.

Mr. Kosares, I realize that you may not wish to address the subject of a competitor, but if you do care to share any thoughts that you may have about this truly unprecedented situation, I would appreciate it.

It appears from the letter, that the WGC was going to give Blanchard most, if not all, of the $55 million to conduct the marketing campaign for them. As it appears that you are a true "gold advocate" as well as a reputable (and large) dealer, that money should be coming your way. I have confidence that with that kind of budget, you could accomplish something. But is that a crazy thought? Are your views deemed "too politically incorrect" and therefore you are to be shunned by the establishment (of which the WGC is part). If that is the case, and yet they did offer the money to Blanchard, again, what does that say about Blanchard?

To All:
The more I reflect on the contents of this letter, the more I get the feeling that there is something "not kosher" about it. The only times I have been wrong in my life are when I did not trust my instincts. I really believe that this once-in-a-lifetime opportunity to accumulate gold priced at far less than its true value is coming to a rapidly approaching end. I will admit that the first bullion I ever traded FRN's for was from Blanchard. Even if they were still in the business, there is something not right over there (I have not bought from them for years). We all owe it to ourselves to conduct business with honest, ethical people who believe both in what they are selling, and that they are giving their customers value for price.
As this post is about a (ex)competitor of our host, I feel that I must end it with a plug for USAGOLD. Give our host a call and remove some physical from the market. That will only help the value of any other ounces in your possession.
I will be doing the same.



Netking (8/21/01; 15:42:46MT - usagold.com msg#: 60020)
Stocks Slump After Fed Rate Cut
http://dailynews.yahoo.com/h/nm/20010821/bs/markets_stocks_dc_3166.html
Stocks tumbled shortly before the close on Tuesday, putting the market on track to end at a 20-week low, after the U.S Federal Reserve cut interest rates for a seventh time this year, but failed to indicate an economic recovery is near at hand.

In addition, the Fed said business profits and capital profits continue to weaken and that growth abroad is slowing.

"The economy is in a precarious state,"' said Cummins Catherwood, who oversees $750 million for Rutherford Brown & Catherwood. "Investors are retreating from the market until we get some kind of positive catalyst."
------------------------------------------------------------
. . . and already the flow on effect starts to ripple through Australasia & Asia:
http://finance.yahoo.com/m2?u

goldenigma (8/21/01; 15:29:49MT - usagold.com msg#: 60019)
test
test

Sierra Madre (8/21/01; 15:17:07MT - usagold.com msg#: 60018)
BR549....no offense taken!
Sorry if I sounded offended. Nothing of the sort!

I have become very skeptical of receiving any truth from the media. The History Channel is locked into the Establishment. Therefore, I doubt.

It is truly amazing how the world's civilization is now manipulated by the rulers, whoever they are. I find it remarkable that Universities, Politicians, Economists, the Financial Establishment, the research think-tanks, the various engines of government, the publishing houses, the newspapers, the T.V. and radio media are so tightly controlled that they are virtually unanimous in all opinions. Not only in the U.S., but all over the world, dissent is practically non-existent or very effectively suppressed. How has this astounding accomplishment come to be? (A great and notable exception is comment on the Internet, and this Forum is outstanding in that respect)

It seems to me that since the world has been living in a financial "drug culture" - a life progressively disconnected from reality - during the past 90 years or so (since 1914), that this reliance on the paper money "drug" has atrophied the capacity for independent thought. Mistaken actions no longer produce bad consequences. Financially, everything can be "restructured" somehow. Even personal bankruptcy is no longer the total disaster and recipe for starvation that it used to be. On the contrary, it frees the bankrupt and makes him a candidate for - more credit!

"In Xanadu did Kubla Khan
A stately pleasure dome decree...
Where Alph the Sacred river ran
Through caverns measureless to man
Down to a sunless sea..."

Coleridge was on opium when he wrote that. An untimely knock on his door broke the spell and the rest of his poem vanished from his mind.

But, we have been living a paper opium dream for almost a century.

The world has been living in a "pleasure dome" that gets every day more pleasant, for so many years...Be Happy, Why Worry? The interest rate just went down!

We ain't using the grey matter; it's not necessary; everything comes out right in the end - AG will take care of that. Dream on, Beautiful Dreamer, and list unto me!

Alas, the Dream will become a Nightmare shortly. Drugs always end that way. So it shall be.

Thanks for reading!

Sierra

escapethematrix (08/21/01; 14:03:55MT - usagold.com msg#: 60017)
EU May Hit U.S. With $4 Billion In Penalties
http://www.washingtonpost.com/wp-dyn/articles/A37578-2001Aug20.html
Snippet:

The United States has warned the EU that pursuing the course of multibillion-dollar trade sanctions would provoke a wave of retaliatory measures by Congress that could disrupt global trade and plunge the world into an economic crisis.
U.S. Special Trade Representative Robert B. Zoellick has likened any EU sanctions of that magnitude to "dropping a nuclear bomb" on the global trading system.

Let's see....Euro rising vs. dollar....Interest rate spread now a full 1% in EU's favor, with more currency debasement promised by Fed....US markets selling off....GATA lawsuit..
Physical birth of Euro looming.....Possible trade war with EU.... The trail is indeed heating up....Got Gold??



Netking (08/21/01; 13:37:02MT - usagold.com msg#: 60016)
Gold miners face tough new world
http://afr.com/companies/2001/08/22/FFXJSQE0NQC.html
Snippit:
Normandy Mining, Australia's biggest gold miner, warned yesterday of further industry rationalisation and unveiled plans to seek a US stockmarket listing after suffering its second successive annual loss. . .

The rush to consolidate locally comes as foreign companies, in the light of the weak $A, eye potential acquisitions in the Australian market. . .

Goldfields managing director Dr Peter Cassidy said industry consolidation was a natural progression in the drive for efficiency . . .

BR549 (08/21/01; 13:00:48MT - usagold.com msg#: 60015)
History
Sierra-

I meant no offense by my earlier post to you. I was justa pickin' at you. The open mind comments were directed at those who do not listen to new ideas such as the benefits of personal ownership of gold because of having their minds made up in advance. Listening with a critical mind is what most of the posters on this site do because they realize how the media functions. I hope you're wrong about the gold series as I have really been looking forward to watching it.

If history is no better of a predictor of interest rates forecasts than what I predicted today, then I must be wrong about the Gold series also.

As of now the markets are down. It looks as if the markets may have also predicated a 50 basis points decrease.


cb2-

It is past time for AG to go. Then he can have more time in the hot tub with Andrea. Picture that image huh? In fact he could have left halfway through Clinton's last term as a hero. The reason he didn't--maybe the PTB wouldn't let him.

When will he go--perhaps when he runs out of "gold" busting SDR Certificates at the end of the year at the current spending rate.

Venus of Willendorf is currently still available, although several L.A. galleries have an interest. Artist approves 30% discount for gold knowing that you would provide her a good home.

As always, a pleasure my friend.






Gandalf the White (08/21/01; 12:42:34MT - usagold.com msg#: 60014)
Note the YAHOO wording of the FOMC announcement
The initial wording was "a slight downward easing", and as the charts began to show a dropoff CLIFF picture, the wording was changed to "The Dow and Nasdaq have dropped 60 pts and 15 pts on the announcement, respectively, sending both near session lows...." Anyone want to buy stocks now?
Where are the DIPSTERS ?
<;-)

escapethematrix (08/21/01; 12:25:15MT - usagold.com msg#: 60013)
Fed lowers by 25bp.............
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&refer=topfin&T=markets_bfgcgi_content99.ht&s2=blk&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=AO4Kk4xNbVS5TLiBG
08/21 14:13
U.S. Federal Open Market Committee Statement: Full Text
By Washington newsroom
Washington, Aug. 21 (Bloomberg) -- The following is the full text of the statement released today by the Federal Reserve:
The Federal Open Market Committee at its meeting today decided to lower its target for the federal funds rate by 25 basis points to 3.5 percent. In a related action, the Board of Governors approved a 25 basis point reduction in the discount rate to 3 percent. Today's action by the FOMC brings the decline in the target federal funds rate since the beginning of the year to 300 basis points.
Household demand has been sustained, but business profits and capital spending continue to weaken and growth abroad is slowing, weighing on the U.S. economy. The associated easing of pressures on labor and product markets is expected to keep inflation contained.
Although long-term prospects for productivity growth and the economy remain favorable, the committee continues to believe that against the background of its long-run goals of price stability and sustainable economic growth and of the information currently available, the risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future.
In taking the discount rate action, the Federal Reserve Board approved requests submitted by the Boards of Directors of Boston, New York, Philadelphia, Richmond, Chicago, Kansas City and Dallas.


White Hills (08/21/01; 12:06:55MT - usagold.com msg#: 60012)
ROSEBUD99
Here is your number. Ticket 1C, 03-16-18-26-39 powerball is 29, Good Luck White Hills

site steward (08/21/01; 11:06:52MT - usagold.com msg#: 60011)
Review of gold in international trade
In the last three months, according to U.S. trade data from the Department of Commerce, there has been a net export of nonmonetary gold from the United States totalling 170 tonnes. (i.e., not including gold being transferred between official agencies as monetary settlement, if any.)

During that time U.S. miners unearthed only about 90 tonnes.

Year to date (January to June), the trade data reveals a net export of about 300 tonnes of nonmonetary gold.

Have you staked your personal claim to what remains up for grabs? As you should know, gold is worldly and in vogue -- the hard asset of choice for any prudential portfolio.

R.

CoBra(too) (08/21/01; 11:06:51MT - usagold.com msg#: 60010)
AG in a Pickle - Whatever he decides today ...
it won't sway in any way the concept of the main play -
well, isn't it always sad to see some brilliant guys overstay their welcome. Do I feel that AG will be sharing the fate of Irving Fisher in history? Sadly, I do!

Quote from Bill Buckler as of Aug. 17.:
"Since the $US Gold price topped out in early 1996, the world economy has NEVER ONCE been in a position where a financial crisis was not going on somewhere. Since 1996, we have seen financial crises in every part of the world EXCEPT ONE. No one has had to step in from the outside to rescue the U.S. DOLLAR. Just as well, there's no one big enough to do it.

The last time that the U.S. Dollar had to be rescued (in the same manner as Asian currencies had to be rescued in the late 1990s and South American currencies are being "rescued" at present) was at the end of the 1970s. It to 20% plus U.S. rates to do it.

Such a "cure" today would be far worse than the disease. The Privateer has stated on many occasions that the one development that was SURE to bring about a revival of the $US Gold price would be a concerted dive in the U.S. Dollar itself. We are on the brink of witnessing just such a dive.

That is why $US Gold is looking so good technically. That is why the outcome of the FOMC meeting on August 21 is so potentially dangerous, no matter what the Fed decides to do. And that is why what we are going through now is VERY likely to prove to be the last few days of calm before the storm." -unquote

How(e) true, as auspec would say - cb2

PS: BR549 - hoping my spit balls as such don't annoy you too much...and BTW love your input and you may have a deal
with the Venus, though I feel L.A. would've gobbled 'her' up
-as you can feel the original fat lady (singing)may become the spiel of tomorrow's sorrows beginning! Take care, my friend.




Sierra Madre (08/21/01; 10:50:51MT - usagold.com msg#: 60009)
BR from Cornfield Country...
Thanks for considering my forecast on the History Channel.

Well, we differ, but I sense your goodwill and integrity so I will not respond with sarcasm but with as much kindness as possible.

I do perceive a political agenda on that Channel. But to go into that, would take us astray from the topics of this Forum. Nothing is so susceptible of sophisticated manipulation as "History". "History" varies from historian to historian. Depends on who you read and what your views are.

This has been going on since Herodotus, the "Father of History". Some Greeks liked him, others hated him and called him all sorts of names. And let us remember, that the victors write "History", not the defeated.

About having an "open mind". I don't read or listen with an "open" mind; I flatter myself perhaps, but I listen with a mind, period. Not an open mind - a critical mind. And I frequently find unpopular ideas quite interesting and even valid.

Lastly, I can sincerely tell you that I do hope I am entirely mistaken and if so, will recognize the fact on this Forum. But wait and see and listen, and I think I will be right: the thrust of the "Gold!" series is: "gold WAS the object of man's lust for thousands of years; TODAY, it's merely a metal for industrial use, and for use as jewelry. As an investment, its days are OVER."

Sierra

BR549 (08/21/01; 09:51:42MT - usagold.com msg#: 60007)
25 or 50 Basis points cut?
http://federalreserve.gov/fomc/fundsrate.htm

The Fed's historical data may indicate a fifty basis points decrease today at the FOMC meeting. The rate has declined from a high of 8% in July of 1990 to a low 3% in
September of 1992. In April of 1992 the rate stood at today's rate of 3.75% and the Fed cut 50 basis points.

This is IMHO strictly based on what has happened in the past. Most of the experts and the bond market predict a 25 basis points cut.

The table for Change, 1990 to present may be found at the link above.



ROSEBUD99 (08/21/01; 09:48:12MT - usagold.com msg#: 60006)
lotto
That got me thinking.... Then in the interviews for all the papers and networks one could air all the GATA questions. Everyone would read about the winner and then be aware of the gold selling by the gov. Bet O'neil would have a harder time dodging the issue then !!!!

ROSEBUD99 (08/21/01; 09:44:07MT - usagold.com msg#: 60005)
RE: White Hills lotto
wow, 175 mill. even after spliting it and sending the gov his share of FRN, that would still buy alot of bullion. Wonder if MK keeps that much on hand?? Hey that could do more advertising for gold than the ad campaign that the gold people do. potential headline..... Arizona powerball winner takes lump sum payment and converts it ALL to gold.
The wealth of ages !!! Count me in !!

White Hills (8/21/01; 08:35:59MT - usagold.com msg#: 60004)
Econoclast
Here is you number, Ticket 1B: 08-13-21-27-31 powerball is 05, Good luck White Hills

Econoclast (8/21/01; 07:58:03MT - usagold.com msg#: 60002)
White Hills...
Count Me In!
I promise to do my part for all of us and use any proceeds to remove physical gold from the market!

White Hills (8/21/01; 07:48:39MT - usagold.com msg#: 60001)
Gandalf the White
Here is your Ticket number,Ticket 1H: 02- 03- 11- 19- 36 powerball 37, Good Luck White Hills

White Hills (8/21/01; 07:42:18MT - usagold.com msg#: 60000)
goldquest
Here is your number, Ticket 1A, 12-25-29-34-45 powerball is 36. Good Luck , White Hills

Black Blade (08/21/01; 06:14:52MT - usagold.com msg#: 59999)
J.P. MORGAN CHASE: Job cuts may reach 8,000 at financial services giant
http://www.chicagotribune.com/business/chi-0108210218aug21.story?coll=chi%2Dbusiness%2Dhed

Snippit:

NEW YORK -- As market conditions continue to deteriorate, J.P. Morgan Chase & Co. now expects to cut its workforce by up to 8 percent, or about 8,000 jobs, up from a previous forecast of 5,000, sources within the company said Monday.


Black Blade: Tossing a few more "Bones" on to the ever-growing "Bone Pile."

BTW, Abby Jo of Goldman Sachs just lowered her estimate for the S&P again by year-end. She is chasing the index. Now she says 1500, down from 1550, down from 1650, down from…


Netking (8/21/01; 04:02:54MT - usagold.com msg#: 59998)
Double post
Sorry about the double post . . . caused by a short term glitch and not Sir Megatrons beverage.


Netking (8/21/01; 03:58:50MT - usagold.com msg#: 59997)
The "statement" will be more important than the move.
This from REUTERS on the much expected Federal Reserve rate cut:
------------------------------------------------------------
Bond investors will likely look past a widely expected quarter-percentage point Federal Reserve rate cut on Tuesday and delve into the central bank's short accompanying statement for signs that short-term rates may head still lower in coming months.

Despite some profit taking on Monday, Treasuries have rallied furiously in recent weeks, with yields on interest rate-sensitive two-year notes hitting their lowest levels since the securities were first issued in 1972, on hopes the Fed will cut rates again in October or November and keep rates low with few signs of an economic recovery taking shape.

"The Fed's statement with the move will be more important," said Jim Evans, domestic portfolio manager with Brown Brothers Harriman in New York. "If they hint at this is the end and monetary policy works with long lags, the market will probably sell off."

But analysts said it was more likely the Fed will signal that more rate cuts could be in the works after the central bank highlights the ills still plaguing the economy, which could support the recent gains in short-term notes. However, the expected rate cut could prompt some shift from recently outperforming short-term notes to longer-dated issues, particularly if the Fed reiterates that inflation remains contained, some analysts said.

"The short end of the yield curve could get hit pretty hard," said Evans. The Fed will announce its decision at about 2:15 p.m. (1815 GMT). Weekly retail sales data from chain stores may guide prices before the Fed decision as investors look for signs that consumers are spending their tax rebate checks.

At its last policy meeting on July 27, the Fed's Open Market Committee said declining corporate profits, weak capital spending and slowing growth in consumption were all hurting the economy, while an ease in price pressures kept inflation contained.

"The Fed will give a statement saying we're here to keep the door open," said Barry Evans, who helps manage more than $30 billion in fixed-income at John Hancock Funds in Boston. Bond investors will also be looking over their shoulder after the rate cut decision to see how stock markets react. Any positive cheer in stock indexes could take the allure off of government debt, particularly short-term notes, causing prices to decline and yields to rise.

Tumbling stock markets last week sent Treasuries soaring higher, as bond investors focused on the unrelenting profit woes in Corporate America and the resulting declines in stocks -- both of which could depress business and consumer spending in the months ahead.

"The Fed has much more to lose by not tightening than they do by easing too much. They're going to err on the side of easing too much," said Fred Robertson, chief investment officer at Criterion Investment Management. After 2.75 percentage points in rate cuts this year, an economic rebound has yet to materialize. Meanwhile, financial markets have worked against the Fed, with stock markets under water for the year and yields on benchmark 10-year notes mostly unchanged.

Typically, monetary easing causes bond yields to fall, lowering corporate borrowing costs while also putting more cash in consumers' pockets by spurring home refinancing activity through falls in mortgage rates. Rising stocks help spur business investment and make consumers feel more wealthy.

The Fed's benchmark federal funds rate stands at a seven-year low of 3.75 percent. For Robertson, a still robust housing market, falling energy prices, $38 billion in tax rebates and the Fed's aggressive rate cuts should all help revive growth in coming months. Robertson said he has moved to an underweight position on Treasuries.

But many investors are eyeing at least one more rate cut later in the year. Futures contracts on the federal funds rate are pricing in roughly an 80 percent chance of another quarter-point cut at the October or November meeting.

Netking (8/21/01; 03:58:26MT - usagold.com msg#: 59996)
The "statement will be more important than the move.
This from REUTERS on the much expected Federal Reserve rate cut:

Bond investors will likely look past a widely expected quarter-percentage point Federal Reserve rate cut on Tuesday and delve into the central bank's short accompanying statement for signs that short-term rates may head still lower in coming months.

Despite some profit taking on Monday, Treasuries have rallied furiously in recent weeks, with yields on interest rate-sensitive two-year notes hitting their lowest levels since the securities were first issued in 1972, on hopes the Fed will cut rates again in October or November and keep rates low with few signs of an economic recovery taking shape.

"The Fed's statement with the move will be more important," said Jim Evans, domestic portfolio manager with Brown Brothers Harriman in New York. "If they hint at this is the end and monetary policy works with long lags, the market will probably sell off."

But analysts said it was more likely the Fed will signal that more rate cuts could be in the works after the central bank highlights the ills still plaguing the economy, which could support the recent gains in short-term notes. However, the expected rate cut could prompt some shift from recently outperforming short-term notes to longer-dated issues, particularly if the Fed reiterates that inflation remains contained, some analysts said.

"The short end of the yield curve could get hit pretty hard," said Evans. The Fed will announce its decision at about 2:15 p.m. (1815 GMT). Weekly retail sales data from chain stores may guide prices before the Fed decision as investors look for signs that consumers are spending their tax rebate checks.

At its last policy meeting on July 27, the Fed's Open Market Committee said declining corporate profits, weak capital spending and slowing growth in consumption were all hurting the economy, while an ease in price pressures kept inflation contained.

"The Fed will give a statement saying we're here to keep the door open," said Barry Evans, who helps manage more than $30 billion in fixed-income at John Hancock Funds in Boston. Bond investors will also be looking over their shoulder after the rate cut decision to see how stock markets react. Any positive cheer in stock indexes could take the allure off of government debt, particularly short-term notes, causing prices to decline and yields to rise.

Tumbling stock markets last week sent Treasuries soaring higher, as bond investors focused on the unrelenting profit woes in Corporate America and the resulting declines in stocks -- both of which could depress business and consumer spending in the months ahead.

"The Fed has much more to lose by not tightening than they do by easing too much. They're going to err on the side of easing too much," said Fred Robertson, chief investment officer at Criterion Investment Management. After 2.75 percentage points in rate cuts this year, an economic rebound has yet to materialize. Meanwhile, financial markets have worked against the Fed, with stock markets under water for the year and yields on benchmark 10-year notes mostly unchanged.

Typically, monetary easing causes bond yields to fall, lowering corporate borrowing costs while also putting more cash in consumers' pockets by spurring home refinancing activity through falls in mortgage rates. Rising stocks help spur business investment and make consumers feel more wealthy.

The Fed's benchmark federal funds rate stands at a seven-year low of 3.75 percent. For Robertson, a still robust housing market, falling energy prices, $38 billion in tax rebates and the Fed's aggressive rate cuts should all help revive growth in coming months. Robertson said he has moved to an underweight position on Treasuries.

But many investors are eyeing at least one more rate cut later in the year. Futures contracts on the federal funds rate are pricing in roughly an 80 percent chance of another quarter-point cut at the October or November meeting.

Netking (8/21/01; 01:47:32MT - usagold.com msg#: 59995)
One more push?
http://www.economist.com/agenda/displayStory.cfm?story_id=747163
Tuesday is Alan "you don't know hard it is for me" Greenspan's time.

Expectations of another cut in American interest rates remain high, following a run of official figures which suggests that economic recovery remains elusive. All eyes are once again on America's Federal Reserve which meets Tuesday.




BR549 (8/21/01; 01:20:55MT - usagold.com msg#: 59994)
History Channel
Gandalf the White (msg#: 59993)

An "A’ for Gandalf. By the way do you know how to program VCR's?



Sierra Madre (msg#: 59972)

A little slow, so I'll take another turn.

Sierra M-"Don't expect tomorrow's series "Gold!" on the History Channel, to depart from the script regarding gold ownership. The thrust of the programs will surely bash gold. The message: "it's beautiful as jewelry; it has had a great history of moving men; but that era is over; gold as money, as an investment, is dead forever. Don't say I didn't warn you. Turn off the audio and look at the program. Provide your own audio by talking to yourself."

I have been out of town today so I am catching up on my reading of previous postings.

I will guarantee you that you are wrong on today's episode because it deals with gold rushes and has nothing to do with investments. This IS the "History Channel".

Have you ever watched anything on the History Channel before or are you generalizing that all media is as evil as the networks? If this Gold documentary was being presented by that liberal Condit lovin’ empty suit Dan Rather, Connie Chung, or any of the other network puke anchors, then I would agree with you that the probability is that this series will end up as a gold hatchet job.

I watch the History Channel all of the time and do not find a political agenda there. For the most part they document history using both old newsreel footage and readings of recorded history. They take much criticism for showing Nazi and other unpopular historical examples from "politically correct" liberal interests for telling it like it WAS.
Don't interpret that I agree or disagree with any of these philosophies, but I do agree in listening to both sides. The ME is now an example now as both sides have some legitimate arguments. How do you know whom to agree with unless you listen with an open mind?

If you watch the History Channel as regularly as I do, then maybe I'm wrong. Please provide me some examples of the "history" of where this channel has intentionally misrepresented historical facts. You do realize that this is a four part gold series and the "meat" of our agenda here at USAG will not be presented until the third episode.

I'll make you a deal, if I am wrong, (after the series is completed), I'll admit it that you're right—and if you are wrong (that this Gold series was worthwhile), you do the same. Of course, I expect some legitimate reasons all along from both of us here daily on the site.

If I listen with an open mind, I find I often learn a lot more than when I have my mind already made up.

You may turn your volume down, it's definitely your choice, but I don't think that you will learn as much or will be able to pass the final exam. Gandalph is currently at the head of the class.

Regards from Cornfield County


Gandalf the White (8/21/01; 00:48:03MT - usagold.com msg#: 59993)
BR549's Homework
An Itinerant Prospector staked a claim on a Quartz vein in Bedrock to Mine Malleable metal ore, Drove to the Mint with his production to Amass his fortune and became a learned Entrepreneur.
---
<;-)




BR549 (08/21/01; 00:07:49MT - usagold.com msg#: 59992)
Whoops!
Make that today's homework assignment

BR549 (08/21/01; 00:03:15MT - usagold.com msg#: 59991)
Gold Students
http://www.historychannel.com/classroom/guides/goldguides.pdf

All right class, come to order.

cb2, quit throwing those spitballs.

Take you seats class. Sit down auspec!

Here are your vocabulary words for tomorrow night's homework assignment:

Amass
Bedrock
Drove
Entrepreneur
Itinerant
Malleable
Mine
Mint
Prospector
Quartz

Here is your first quiz:

How many miners moved to the West after Sutter's Mill was discovered?
1. 10,000
2. 20,000
3. 30,000
4. 40,000

Sutter's first name was:
1. John
2. George
3. Ringo
4. James

The average take in gold for each miner in 1849 was:
1. $100
2. $250
3. $500
4. $1,000

Besides California, there were also gold rushes in:
1. Alaska
2. Russia
3. Italy
4. All of the above

Which of these statements is true:
1. A pound of silver is worth more FRN's than a pound of gold
2. A pound of gold weighs more than a pound of silver.
3. The Federal Reserve is going to go back on the gold standard at its next FOMC meeting instead of raising interest rates.
4. Gold has maintained its relative purchasing power throughout history

Anybody missing this last question will be required to read all of the books at the link listed above and not be allowed to post at USAG for at least 6 months.

Make sure your parents have a blank tape for their VCR's and somebody knows how to program it. Your homework assignment is to watch the History Channel at 9:00 PM Eastern, tomorrow night 8/21, and report back to the site afterwards.

Class dismissed.





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