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ARCHIVED DISCUSSION FROM 9/21/2001 All times are U.S. Mountain Time (Yesterday's Discussion.) Netking (9/21/01; 22:50:27MT - usagold.com msg#: 62143) Insurers See $72 Billion in Claims http://www.iht.com/articles/33385.html The estimated cost to insurance and reinsurance companies from the terrorist attacks on New York and Washington is climbing sharply, far beyond previous records, leaving the industry to confront what one company called "a previously unimaginable risk potential." Solomon Weaver (9/21/01; 22:25:46MT - usagold.com msg#: 62142) http://www.prudentbear.com/credit.htm Nomination for the Hall of Fame The Credit Bubble Bulletin - by Doug Noland A Terrible TragedySeptember 21, 2001. . . . . . . . . . .. Doug Noland's weekly review is one of my favorite stopping spots on the web. I would like to suggest to our web masters that this weeks posting be added to the Hall of Fame, since it becomes an historic document...a "State of the Nation" speech of sorts.What I find quite unfortunate is that in the current political environment, this type of analysis seems almost unpatriotic to some. Those at the forum who have come to know me can confirm that I am one of the most bullish on the strength of the great technology miracle (as I am a businessman in the Genomics/Biotechnology field, and see very significant advances in the entire field of molecular medicine). Doug Noland has done such an excellent job over these many months in pointing out that much of the miracle of the money machine was in the digital printing presses. His weekly postings are living proof to future historians that at least some people saw it coming (economic dislocation). And yet, at the very moment when our great thinkers should have been working hard on getting us through the Great Tragedy of Global Leveraged Finance, we are distracted into the Great Missionary Undertaking of Eliminating Terrorism.There is an order of Buddist monks in Burma/Thailand/Viet Nam who experienced the great tragedies of the Vietnam war. In their view, the only way to effect real change in the world is to meditate inside oneself to find the root of violence and heal it with Metta (loving kindness). I think it is very important that this great tragic event in NYC has caused many to look into their hearts. I worry that the patriotism could become blind.....not unlike the patriotism of the Hitler youth. Some will consider me contentious...but such energies can arise strongly during hard times.Much prayer and fasting is now required in this great nation, that our actions will be wise and just. Poor old Solomon goldquest (9/21/01; 21:58:44MT - usagold.com msg#: 62141) IMF Non-usable Resources http://www.imf.org/external/np/tre/liquid/2001/0801.htm I guess that I must have bounced too many times after falling off of the turnip truck! A while back, we determined that Brazil and Mexico had bought gold from the IMF and then used that gold to pay off their debt to the IMF! If you go to the link and scroll down to, "Non-usable Resources," it says, "Resources that are considered non-usable to finance the IMF's ongoing operations and transactions are (i) its gold holdings. Can anyone explain the gold policy of the IMF, other than the gold policy explained by the IMF? TIA Buena Fe (9/21/01; 21:43:17MT - usagold.com msg#: 62140) healing America, healing all of us honest weights and measures.........Firemen are receiving the admiration that sports/entertainment people used to! A new trend, I hope it continues.(nothing against entertainers ....... just society out of balance in perspective of what is valuable)soon family farmers will earn a decent living again as the financial scales are balanced ........ rock stars may soon need to refinance lifestyle for lack of support/interest(nothing against rock (my favorite) ........ just society coming back to balanced values!) Nomad (9/21/01; 21:40:16MT - usagold.com msg#: 62139) (No Subject) http://www.fourthturning.com I would like to humbly suggest that one of the best ways to understand the speed and violence with which this country has changed gears is to read a book by 2 guys named Strauss and Howe, titled 'The Fourth Turning'. (see website above). The basic premise of the book is relatively simple ... human social history is defined in terms of saeculums, periods of time roughly equivalent to a single, long human life (80 years). Each of these time periods are in turn divided into 4 generations. As each generation in turn comes into positions of power within the society, they have characteristic personal weaknesses and strengths which move the society in one direction or the other. Particular constellations / configurations of generations repeat again and again throughout history resulting in ... you guessed it cycles of behavior my the society as a whole, which repeat again and again. There truly is nothing new under the sun.According to the book, as each generation comes into power, the society 'Turns' from one configuration to another. The last of these 'Turnings' (the 4th) comes about as 'an event or series of events which results in a national change in mood' which is called a 'Catalyst. It can be easily argued that these guys have both the timing and the nature of the WTC event zeroed in.In addition, the huge changes that you will see (and have seen already) in the character of the nation is predicted quite accurately as well. Check it out ... it'll give those of you with a brain a leg up on understanding the times to come :) And of course, with gold having special significance in turbulent times, I think it will give you a better foundation for your investment plans as well. I know it has helped me greatly.On a personal note, I have to say that on the whole, the behavior, hysterics and foolishness that I have seen on the part of virtually ALL of my fellow citizens in response to the WTC, makes me physically ill.It is quite clear that America (and Americans) have simply gotten a comeuppance that has been a long time in the making. Foolish decisions in the international political arena, combined with equally stupid domestic policies have resulted in the deaths of more than 6000. Bin Laden was simply one of a thousand possible triggermen. And by killing others under the guise of a War on Terrorisom (now there's a real oxymoron :), the situation will just be aggravated. Kill a whole bunch more in the Middle East and maybe next time it won't just be thousands who die in retaliation, maybe it will be millions.Oh well, at least all this killing is good for the price of gold ... Now why doesn't that make me feel better ? :-( BR549 (9/21/01; 21:01:28MT - usagold.com msg#: 62138) Willy you are the Best! BR549 (9/21/01; 20:28:45MT - usagold.com msg#: 62137) Sorry, I forgot http://www.tributetoheroes.org the link to contribute to the victims from the 80 countries on my last post. I am sure they will accept Gold. Netking (9/21/01; 20:23:13MT - usagold.com msg#: 62136) Auspec http://news.bbc.co.uk/hi/english/world/europe/newsid_1556000/1556100.stm Sir Auspec(tor)(62134)The story is here re: French factory blast kills 18 from the BBC. - Cheers Murray auspec (9/21/01; 20:20:48MT - usagold.com msg#: 62135) Rich I messed up a silver future this week, zagging when I should have been double or triple zagging. Now I need another entry point, hoping for Clif Droke's {see earlier article} October cyclical low. Go figure, one let's a nice profit pass by 6 or 7 times and then misses a big one when taking the small one. Of course, we never go wrong when we take a profit, no? Damn good thing I have a day job.I bet you really have a louis R. Fan Club T shirt, come clean with us now, I won't tell your cuz.Regards to a Fellow silver {un}desperado! auspec (9/21/01; 20:13:35MT - usagold.com msg#: 62134) Midas Commentary Around 9, I received a phone call from a Café member whose sister lives in Toulouse, France. She told him that there was an explosion, many were dead, there was a red cloud over this major city and that all the windows were blown out of all the office buildings in the town.I kept waiting to hear about it on CNBC. Nothing. Waited some more. Nothing. This was most disconcerting to me because the President of France, Jacque Chirac, had just come back from the United States after a meeting with President Bush. The obvious concern was that it was another terrorist attack.Later on today, I received another call. "Sixty dead and the damage looked like the World Trade Center." The entire country of France was transfixed to the television and they equated it over there to our disaster - not in the number of deaths but to the scope of the damage. There was also much concern because Toulouse is the location of the factory that makes the French Ariane Rockets that are sent skyward in French Guyana. Chirac was on his way to Toulouse to survey the tragedy, I was informed.Obviously, I have no clue whether this was terrorist related, but it must have shaken the TV networks - as they said nothing all day - at least while the stock market was open. That is the equivalent of French Television not reporting on the US terrorist disasters.That is why I put of the News Alert.Meanwhile, the US dollar was going through the roof, but CNBC never explained the reason why. It was odd for the dollar to be so strong because our stock market was getting decimated. Of course, the big shots on Wall Street knew what was going on. It was only for the public not to know.The gold traders in London knew. Gold was firmly bid the entire day over there. The London PM gold fix was $292.50. After that, the US fix team took over and the cabal made sure that gold closed lower than the FIX in London, as usual. It is disgusting how this can go on an on and no one ever says anything but the GATA camp.One of your fellow Café members puts it best to sum up the hushed-up Toulouse nightmare:This is being described as an "apparent accident". You tell me. In a city of a million people where you have an apparent accident in the industrial outskirts of town and officials blocked off the industrial area just south of Toulouse, evacuated schools, closed the airport and subway, rerouted drivers and told people to stay home as a precaution. The city's streets were virtually deserted in the hours after the late-morning blast.That sounds more like a terrorist strike to me. I think Samuel Huntington is correct: this is a war of civilisations, the West against Islam. In that situation, Europe is in a far more worse position than America. Many more Arabs in the population, much closer proximity to the Middle East, much greater reliance on Middle Eastern oil. This would also explain why the dollar rallied sharply this morning against the European currencies. Safe havens of every kind are being reassessed. Gold might be the only thing to own right now. There is an emergency EU meeting tonight; I suspect that this is the subject. 8 suspects have been arrested today by French police after reports that they were about to attack American targets in the country this weekend. The Germans have been rounding up people as well and are on the look-out for more, since Hamburg has been a big staging ground for this kind of stuff. In the short-term this means a much stronger coalition between the Americans and the Europeans, but it implies a much more broadly based conflict than perhaps the markets had hitherto suspected. ENDComment: This could be very similar to the near news blackout when the Pentagon was hit, when we first heard it was only the grounds of the pentagon and then heard next to nothing for MANY hours. Stay tuned. Who can explain what is happening in {French} Guyana? Please support GATA and become a LeMetropole Cafe member, these guys are the real Patriot missles! R Powell (9/21/01; 19:59:15MT - usagold.com msg#: 62133) auspec Hey guy. Watching Louis is a tough job but you know someone has to keep an eye on those permabulls and elves!How do we know that the bear is alive and well without spying on the enemy to make sure they're still upbeat. Louis was in fine form tonight. He didn't say as much but implied that the market was naughty and unpatriotic last week. Now how many times have I told you investors to buy- not sell. Why I've even provided people to tell you which specific companies to buy! ****** Gold and especially Silver. Are we having fun yet? I'll be glad to go on record as saying that I've been having a great time lately. But prudence tells me to offset an option or two soon. We have been fooled before, yes? I've got all weekend to study and decide. Happy weekend Rich BR549 (9/21/01; 19:57:46MT - usagold.com msg#: 62132) Anybody out there that can keep a dry eye watching "America, A Tribute to heroes live tonight" being broadcast on TV tonight.I can't.BR549 Netking (9/21/01; 19:45:24MT - usagold.com msg#: 62131) EU leaders back US retaliation http://news.bbc.co.uk/hi/english/world/europe/newsid_1557000/1557099.stm Snippet:"European Union leaders have agreed to support US retaliation for the 11 September terrorist attacks. At an emergency summit the leaders said a targeted US "riposte" would be "legitimate". In a joint statement they said each of the 15 nations would participate in such action "according to its means". Jack Straw says international support is growing. The declaration said the targets could include "states abetting, supporting or harbouring terrorists. . . . " {That's it then, Game, set & match! - Netking} ----------------------------------------------------------- Sir Sierra Madre, this posted link wasn't you now Sir was it?http://www.kitcomm.com/comments/gold/2001q3/2001_09/1010921.121657.sierra_ma.htm Trader_vic (9/21/01; 19:35:36MT - usagold.com msg#: 62130) Gimli_ (9/21/01; 19:16:08MT - XAU Down and POG Up As I see it, This is nothing more than some profit taking before the weekend... Remember, with the SM down so much this last week, you have funds that are dumping their winners to get enough money to cover their loosers! I guess you would say that Gold bailed them out again! Will they ever learn?As far as the PM market is concerned, it looks really strong in here... you have silver breaking out of the downtrend with no news... you have people now reporting that silver is in short supply and that the shorts are covering without success... You have gold above $290 and advancing, along with Japan buying 3 tons over this last week... and the far east isn't done buying either... you have 39 tons of gold buried under the rubble of the World Trade Center... you have uncertainty in the world and markets selling off significantly... you have money going into our economy without any concern as to inflation... What you have is a really nice environment for a gold explosion...Think about it for a while and ask yourself... can I afford to wait any longer to buy that extra gold... I don't think so... you might even be able to pay off your house mortgage with a few of those now...in the near future... auspec (9/21/01; 19:20:51MT - usagold.com msg#: 62129) Rich How{e} can you bear to watch Louie Rookheister? I knew you were brave, but this is beyond my comprehension. Don't tell me you're one of the Elves, please.Sympathetically,au{not}spec{tator} Gimli_ (9/21/01; 19:16:08MT - usagold.com msg#: 62128) POG up, XAU down.... Yes, my mining shares have done very well this year--that is surely evident when one looks at the bigger picture.However, with all the meltdown of all the other financial instruments going on around us, one would think that PMM shares would soar especially as the dollar falls and the POG goes up. Many mainstream economists are noticing and even some are recommending PMM shares. So what gives??Usually the XAU going down is a more reliable indicator than the POG going up. So why would the big money and insiders not favor PMM shares? NEM down 6+% today! Doesn't make sense.... Smells bad? R Powell (9/21/01; 19:01:42MT - usagold.com msg#: 62127) Gimli_ You wondered about "POG surges, yet mining shares drop significantly". They look a lot better if you step back a little and expand the time frame. Investor's Business Daily lists (daily) different market sectors with year-to-date percentage changes. From today's paper, by sector Bank -26.1% Consumer -19.3% Medical/Healthcare -18.5% Defense -8.4% Defensive -14.3% Gold +36.9% IBD lists Newmont Mining among the ten companies that comprise this gold sector. IBD also lists 197 Industry Group Ranking groups. "Groups are ranked 1 through 197 on price performance of all stocks in the industry in the latest 6 months." No, not first, but the Metal Ores-Gold/Silver group is number 2 out of 197. It was number 9 last week and number 72 three months ago. Not too bad for an old barbaric relic. Happy weekend to all!! Rich BR549 (9/21/01; 18:53:02MT - usagold.com msg#: 62126) Stock buybacks/repurchases—Another way for corporate insiders to benefit or a way to prime the stock market by demonstrating that corporations are willing to put their money where their mouth is concerning their stocks? The regulations for stock repurchases by corporations was relaxed after the closure of the market because of 911. The mentality was supposed to be that corporations could use their excess cash (what is that?) and instead of investing in capital goods, acquiring a new company or technology, paying existing stockholders dividends, etc. can buy back their stocks at bargain basement prices. What a deal? Everybody wins, there are no losers or are there? The reason that nobody loses is that the existing stockholders now own a greater percentage of the company because the outstanding number of shares has been reduced and your peer share value has increased. That is, if earnings remain relatively constant, then EPS and ROA will increase because the number of shares outstanding has been decreased. Let's say that you are a major shareholder in this corporation and you hold a stock that no one will buy your stock for the price that you feel that the stock is worth. As a major shareholder you are defined as insider and you must report either the buying or selling of stock to the SEC within a specific time period so you allegedly will not benefit from inside knowledge to the detriment of regular shareholders. Example-Your new widget does not meet consumer safety guidelines and you must recall all 10 kazillion of them for repair. You would therefore sell your shares before the market found out. Alternatively. with a buyback, you as a board member can offer a premium to shareholders at (x) amount above the market price if they offer their shares for redemption, ex. market price is $15/share, your corporation offers $24/share as an incentive to existing stockholders (you as an insider being one). If you (insider) took your profits via a dividend rather than a stock repurchase then you would have to pay taxes at ordinary income rates rather than at capital gains rates. How convenient. You get a higher price per share in your back pocket and you now own a higher percentage of the company via a reduced number of shares outstanding.So the whole idea for relaxing the regulations about stock repurchases temporarily was to "prop up" the sagging prices of stocks via corporations patriotically buying back their own shares. The first five days of this ingenious plan has resulted in the single largest decline in prices in the history of the U.S. (including the depression). The result is a new proposal for extending the relaxed rules about the practice of stock repurchases for a longer time period than the initial ten days.Any thoughts KarenSue or others?Regards,BR549 Gimli_ (9/21/01; 18:30:35MT - usagold.com msg#: 62125) POG up over $4, but PMM Indices Down, NEM down 6% http://finance.yahoo.com/q?s=nem&d=t I don't get it!! POG surges, yet mining shares drop significantly--indices down about 2% with NEM down over 6%.How does this happen, and why? Netking (9/21/01; 18:04:40MT - usagold.com msg#: 62124) Dow's Worst Week Since the Great Depression http://cnnfn.cnn.com/2001/09/21/markets/markets_newyork/ Stocks slide for a fifth day, and Dow sees worst week since 1933 . . . G R I M . . . but wait there's more!, sorry I mean less, October has market timing indications of the Dow(n) go'in further south, glad y'all got silver 'n gold huh! R Powell (9/21/01; 17:43:32MT - usagold.com msg#: 62123) Television financial presentation I curious as to what Louis Rukeyser will have to say tonight. Wall Street Week on public television at 8:30 EST. Do you suppose he'll mention the goldbugs in his opening comments as he has been in a condescendingly manner for o so many years? Rich Belgian (9/21/01; 16:52:22MT - usagold.com msg#: 62122) @ Slingshot Sir, it is with the terror that exists in Israel, and the *never-ending*, mutual hatred, in my mind, that I do fear the worst. Let us leave the debate for a while and wait for the outcome of any possible actions taken. Like your sense of humor. :-)Today, a friend of mine was able to have some 4 eyed talk with a financial analyst of importance...and Gold was brought forward. Result : Financial media have no interest in Gold for the following reasons : Gold trade doesn't bring any profits of size and is contraproductive for the sale of other financial products, due to the absorbtion of money that goes asleep and is not available anymore for the so called smart-products. Nothing new of course, but when stated explicitely... of some interest. Goldmining consolidation (Gold Fields/WMC + others later) works against the present fragmentation and is further sign of contraction rather than expansion.Osama bin laden in Chechnya or Northern India-Kasjmir (latest rumors). Complications !? nickel62 (9/21/01; 16:34:38MT - usagold.com msg#: 62121) White Rose This was a triple witching day which means that it is the day when the brokers have to pay up if their futures and options are not in the money. SO it is a day when it is particularly likley that markets will be moved by big money flows designed to keep the brokers or market makers from having to pay off on the various options, futures, etc. Since silver has been very strong lately it is likely that someone had been playing the move by buying calls and the sellers wanted to make sure they closed closer to were the silver stocks were when the options were written. On Option expiration days like today the markets are dramatically effected by the movements of various parties that happen to have a financial interest in the outcome. Gandalf the White (9/21/01; 16:02:24MT - usagold.com msg#: 62120) OOOPS --- There went another 2,150,000 PUTS !!!!!!! 2002-01-19 20.00 NEMAD 4.20 4.60 17600 360500 NEMMD 1.75 2.00 5340000 1892500<.-( Gandalf the White (9/21/01; 15:58:01MT - usagold.com msg#: 62119) GEE !! I forgot the "g" in HEDGING !!!! <;-( auspec (9/21/01; 15:56:41MT - usagold.com msg#: 62118) Coalition Cracks? I just learned that Egypt has shown indications that it will NOT go against Iraq in any anti-terrorism activities. This idea of "you are either with us or with the enemy" is going to go up in smoke very soon. Egypt has to be considered more moderate than many other Islamic countries and this bodes poorly for for the 'dream team'. Back to the drawing board for Colon Powell and Small Intestine Rum-filled.From the Pee-Nut gallery,auspec{tator} Gandalf the White (9/21/01; 15:55:41MT - usagold.com msg#: 62117) LOOK at this ! ( I hope it lines up well.) http://quotes.ino.com/options/stock/?s=NYSE_NEM Sorted byExpiration Strike CALL symbol bid ask vol openint ---PUT symbol bid ask vol openint 2002-01-19 20.00 NEMAD 5.20 5.30 17700 353900 ----NEMMD 1.45 1.50 3109500 178100===========IF it is not easy to read, SOMEONE BOUGHT over three million $20 Jan 2002 PUTS on NEM at about $1.50 each today !!THIS IS MAJOR HEDING !!ANYONE want to fess-up ?<;-) White Rose (9/21/01; 15:22:18MT - usagold.com msg#: 62116) Last minute trades today in gold and silver I have noticed that silver stocks got slammed in the last hour of trading, and gold stocks went up? What does this mean?Does somebody know something is up this weekend? Or is there a simple explanation? slingshot (9/21/01; 15:12:41MT - usagold.com msg#: 62115) Belgian Msg# 62114 How much will vengeance cost and what will be the benfit?Does not matter anymore. The country is on a war footing.Remember the AlamoRemember the MaineRemember Pearl HarborREMEMBER NEW YORKThe Battle cry has changed, but the results will be the same!Funny. It is easier to get people to go to war than to buy gold.Slingshot Belgian (9/21/01; 14:51:24MT - usagold.com msg#: 62114) @ BR549 OK Sir, I do admit that my question is wrongly put and without enough context. I wanted to express my worries about retaliations on retaliation. And the unavoidable spiral of violence en suffering. How much will the vengeance cost and what will be the benefit ?It is not because I'm invested in Gold, that the world has to become a divided angry globe. I would prefer to see it otherwise. Why isn't the US asking Saudi Arabia as a go between for the whole Arab/muslim community and bringing all terrorists before a world tribunal, for judgement and punishment ? When you start analysing this question...you will encounter, the extreme complex/complicated hart, of the matter.Geopolitics...oil...economy...etc, affecting us all and the investors on this forum in particular. Can you agree a bit more now with the briefly explained context ? The act of terror has much more dept than is visible at present. It is not kind of an isolated drama, but rather something terrible that will have prolonged implications.Am afraid that if all rencent words, become reality...hell breaks loose. I suppose you aren't wishing this either.POG runup in Europ from 290$ >>>295$, was immediately reversed at N.Y. opening >>>291,8$. GE fostering did the trick. Massive liquidity is mobilized to prevent defaults and keep the crippled TWINS erected (yes, good comparaison). Econoclast (9/21/01; 14:39:24MT - usagold.com msg#: 62113) BR549... The goldminers?Shoot, I'm preparing my request for "liquidity" from the FED. I'm cheap! 1 billion is all I require. BR549 (9/21/01; 14:31:34MT - usagold.com msg#: 62112) GE Telethon During CNBC's running telethon today for General Electric's stock holder meeting, it was stated that this week is the fifth worse five days of trading declines as a percentage since 1931. The sixth worse occurred in 1932. All of my life I have heard that it was impossible for the stock market to crash again like it did in the back then. According to an expert in institutional trading, the DOW fall was being caused by Insurance having to raise capital to pay claims, Pension funds need cash, mutual funds needing liquidity for redemptions. But the bottom has been reached and this is over? Come on back in suckers, there are some real bargains here. One other point, in reference to the $10BB airlines welfare checks, how much of that is going to the Banksters to keep from foreclosing on the fleet I wonder. The insurance companies are next up in the welfare line. Money is gushing like "Old Faithful" When is it the poor gold miners turn?BR549 BR549 (9/21/01; 13:51:23MT - usagold.com msg#: 62111) Belgian's Question : "Is it possible to eradicate terrorism, completely ? Is this the only way to create a better and safer world ? Has the UK already solved the Irish (terror) problem to its full extend ?"Another question for you: "Is it possible to eradicate CRIME, completely ? Is this the only way to create a better and safer world ? Has the UK already solved the Irish (CRIME) problem to its full extend?"The answer to both of those questions is obviously no.Back in the 30's the US declared internal war on Al Capone and he was eliminated. In the 90's the FBI declared war on John Gotti and he was eliminated. In the 18th Century the US declared war on the Barbary Pirates. It took 15 years, and they were wiped out.Let me state the question one more time my way: "Is it possible to eradicate organized terrorism from bin Laden completely in the 60 countries in which he has set up terrorists cells? Once accomplished by the world alliance again terrorism, won't this make for a better and safer world? Hasn't the UK already begun to resolve the Irish organized (terror) problem as much as possible by the truce that was signed although there is much additional work to do?"Just looking at it from a different angle. BR549 auspec (9/21/01; 13:32:38MT - usagold.com msg#: 62110) The American Bird is an EAGLE! http://www.gold-eagle.com/gold_digest_01/droke092101pv.html . auspec (9/21/01; 13:30:10MT - usagold.com msg#: 62109) Clif Droke on Silver http://www.gold-eaglr.com/gold_digest_01droke092101pv.html The market for select gold mining stocks remains vibrant heading into autumn, with certain junior mines poised for tremendous percentage gains. Meanwhile, the silver market remains favored over gold this fall in terms of upside percentage potential. Based on our cycle analysis silver is due to see a long-term cycle bottom in October.In true seasonal fashion the gold and mining stock market leaped on high volume in response to the precipitous stock market decline of recent weeks, coupled with news-related trading in the wake of the World Trade Tower/Pentagon bombings. The upmove for gold futures, however, was purely temporary as gold's dominant cycle channels are pointing sideways for the next few weeks. However, the long-term cycles have all bottomed and gold should begin its sustained move to $320 (plus or minus) as we near the end of the year. Once gold clears $320 this year it will be the last time the yellow metal ever visits the sub-$300s as it will mark the beginning of the 2002-2006 gold boom. For the next four years ahead none of the major cycles are due to bottom below $300, and most will bottom at considerably higher levels. ENDComment: Clif never seems hesitant to step out in a limb. May this current prediction reap much fruit for all similarly invested! Econoclast (9/21/01; 13:15:10MT - usagold.com msg#: 62108) Buena Fe, that is exactly what I've been thinking Whoever did it made it an event as dramatic as anything in the biggest disaster movie in an attempt to get through the numbness of the collective mind.The symbolism I also believe is on purpose.The WTC is symbolic of the Financial System. "They" had to incorporate engineers into the planning and figured out how to bring the WTC down. The massive fireworks of the direct hits was but the beginning. Then later, the towers imploded on themselves and collapsed due to the weakening structure caused by the unseen ramifications of the visible actions. The symbolism to me is amazing and not coincidence. ge (9/21/01; 13:08:48MT - usagold.com msg#: 62107) Sean Corrigan on an undeclared near zero interest rate policy by FED http://www.capitalinsight.co.uk/Home/Article.asp?ArticleFile=200901zirpcode.pdf His theory : Foreigners want out.(Note: The link does not work in Netscape) site steward (9/21/01; 13:01:07MT - usagold.com msg#: 62106) Nice post, Buena Fe An apt parallel, indeed. Buena Fe (9/21/01; 12:54:40MT - usagold.com msg#: 62105) dreams? the feeling in my gut, that has been building over several days is starting to take a shape that I can begin to describe. (Remember these are feelings so they are HIGHLY subjective and may just represent the processing of change that we all are dealing with)-we are watching an erie parrallel, within the US financial markets, to the act of terror in NY.-the WTC's were hit apprx. 20min apart, they burned for all to see, nobody expected them to collapse. In fact I remember hearing that the towers were built to withstand the impact of such aircraft. Rescue efforts began ......fireman......raced up to save lives, extinguish the flames and save the towers.-within the towers, unseen is a HOT fire, from the aircraft fuel that melts the support and to everyones Horror the towers collapse.Parrallel-the US financial system takes a hit, the $ and T-bonds are the WTC's, they are damaged but rescue efforts get underway, they are designed to take this kind of hit, but unseen is the derivative fuel that is burning/weaking the structure, to everyone's DISBELIEF and horror the $/bond towers collapse......... no one is willing to part with their physical gold for 400 ... 600 ...... 1000 ....+++ dollars, the world is forever a different place.does anybody else feel this way? site steward (9/21/01; 12:48:34MT - usagold.com msg#: 62104) Fed adds $1 billion via weekend repos at 2.25% stop out http://biz.yahoo.com/rf/010921/nat000281_1.html If you've already read the first Site Steward post of the day, you'll be fully prepared to read and understand this Reuters article. Centennial Precious Metals, Inc. / USAGOLD (9/21/01; 12:11:36MT - usagold.com msg#: 62103) Hard assets... Easy access! http://www.usagold.com/ProductsPage.html
In this global marketplace, an event on the far side of the world (even while you sleep or play) can adversely affect the performance-credibility of your commercial positions and financial portfolio.Gold has no employees, no overhead, and no financial statement to balance. It cannot go bankrupt. Gold is wealth itself. It is valued worldwide on the basis of its reliable "form and function" -- a steadfast financial commodity immune to the contagious collapses to which all financial paper is prone.
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