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ARCHIVED DISCUSSION FROM 9/24/2001
All times are U.S. Mountain Time
(Yesterday's Discussion.)
BR549
(9/24/01; 23:20:00MT - usagold.com msg#: 62293)
#### $275 #####
The more things change the more they remain the same. Alan Greenspan said the Fed was pegging the price of gold simulating an unofficial gold standard.
BR549
(9/24/01; 23:14:26MT - usagold.com msg#: 62292)
****The World Is a Different Place Today Than It was 9/10/01 ****
True. The definition of WAR, of all types, is much different now.
Economic wars are now being magnified by a real shooting war. The difference between now and 9/10/01, is that terrorists funds are being confiscated by banks around the world in order to choke the life out of the financing of criminal activities. Traditionally, a banks main purpose was to preserve assets and protect their customer base in order to add to their dollar accumulations and increase corresponding net worth. High risk loans and derivative hedging increased profits and any downside risks were covered by the taxpayers. But with the events of 911 the paper money banking system is now being utilized as a war tool to control the cash flow of "evil". The banking community around the world can make a major contribution if they choose to perform a part in the eradication of terrorism..
However, the war on gold continues unabated by the banking community. During times of conventional war there is always inflation, which without corresponding rises in productivity, leads to currency meltdowns. In order to preserve the value of world currencies, the war against gold must be accelerated. If gold begins to rise, then its price is driven down using the conventional weapons---gold auctions by CB's, gold leasing (some now with negative rates), forward sales, and outright lending. New weapons such as gold which is still physically being held within the U.S., with the title relinquished utilizing SDR Certificates is frightening during peaceful times. The traditional war on gold continues as supply is dumped on the market as needed until the POG declines. This war has been successful in maintaining the price at below $300/oz. Only twice has gold broken above for short periods, on 10/5/99 at it max'd at $324/oz. and on 02/04/2000 at $310/oz. If you factor in the billions of liquidity that has been injected into the economy since 9/10, The Federal Reserve has abandoned its war on inflation making the war on gold even more crucial to maintain the value of the dollar.
The results of the war by the paper community will fail because of hoarding. During the Great Depression, hoarding began as dollars were removed from circulation by fearful citizens unsure of their future and economic flows eventually stopped. Inaction by the Fed significantly contributed to the rapid U.S. economic demise. Unbelievably the same thing is happening now. Las Vegas has had almost 200 conventions canceled since 9/10, airplane travel which traditionally made up 10% of the economy has vanished, cruise ships have only a fraction of their previous bookings, gas prices are declining because the demand for land travel has declined, and consumers are not spending their tax rebates. As inflation increases in the shooting war economy, the individual accumulation of physical gold becomes the individual's best bet for protecting accumulated wealth.
BR549
Black Blade
(9/24/01; 23:07:25MT - usagold.com msg#: 62291)
Forbes Body Count
http://www.forbes.com/2001/01/30/layoffs.html
More nonessential "Bags O' Bones" cast upon the "Bone Pile." Not listed yet is Honeywell's announcement that 12,000 "nonessential" people will be given pink slips and told to "beat their feet." The "Bone Pile" will continue to grow higher as corporations fail to meet minimum earnings targets. This Recession looks to get much worse as consumers (many now laid off) will cut back spending. This morning I heard that it is the American consumer that is "floating" the economy and if the consumer stops spending it is "Game Over." Not going to be a pretty sight.
Black Blade
(9/24/01; 22:33:04MT - usagold.com msg#: 62290)
RE: auspec - Sleeper
I do know the Sleeper deposit (northwest of Winnemucca, NV). It is a strange deposit with visible gold, some within a matrix of adularia crystals. I remember that when core samples were taken at first many thought that they had samples of pyrite. It turns out that it was nearly pure gold that was tarnished due to the relatively high silver component (for example 80% Gold and 20% silver). I saw some samples and as I lifted them I thought that the weight alone should have been a dead giveaway that this was not a pyrite deposit.
A lot of unsubstantiated stories persist about how AMAX did not maximize the full potential of the deposit with numerous engineering blunders such as high-grade ore missed the mill and went to the leach pad, visible gold in ore ended up as road bed, low-grade ore went to the mill, etc. Even a number of tales about the "accidental" discovery exist about this deposit as well. Whatever tales are true or false, the point that should be remembered is AMAX was desperate for cash at the time and were about to go belly up and this deposit saved them. They went into mining right away and missed out on the best ways to maximize the deposits' potential. Currently the old pits are filling up with water and will become man-made lakes. This was allowed to happen because the area became a "wetland" due the shallow water table and excess waste water on the surface and has since attracted several species of water foul. The plan is to eventually plant fish and turn it over to the state as a recreational area.
Now the fun part. There is still a lot of potential left on the property. X-Cal is still drawing gold out of the leach pads and occasionally they "fluff' the pads and draw even more gold. Nice to have high-grade ore in the pads (another supposed AMAX blunder). PDG has occasionally been looking into a JV with X-Cal. There are rumors that a small outcrop some distance from the old mine had samples assaying as high as 137 oz. per ton silver. Who knows. There are supposedly a couple of high-grade trends on the property. I know a few people who at one time or another worked there for either AMAX, PDG, and X-Cal. It looks like when Gold moves higher they could draw a lot of interest. I have a friend who has enough confidence that he holds a few thousand shares. Could be interesting. Cheers!
- Black Blade
Solomon Weaver
(9/24/01; 22:31:38MT - usagold.com msg#: 62289)
Surrounded by Stars
MK - what do you expect from a philosopher/biologist.
****The World Is a Different Place Today Than It was 9/10/01 **** (Surrounded by stars)
FALSE
The world, our great planet earth, since its very inception has indeed been surrounded by stars, and will as such remain into stretches of time inconcievable to mankind.
Born of stars herself, heat within her bosom, continues to unleash forces upon her fragile shell. The myriad of elements created within her star father, and collected by her mass as dusts of long forgotten stars, are sequestered into the folds of her precious living skin.
In long suffering patience she has quietly melted these elements, a cauldron of living stone...a dance between dripping stalactites, covered with biological cells which live deep in her tissue as they have for 2-3 billion years, and the fervent heat of her core which continuously provides the underworld with the energy of transformation. Quiet and deep recesses which slowly create crystals, and veins, only to see them slowly over millions of years be subsumed and remelted...the history of this transformation being visible in structure for hundreds of millions or billions of years.
And on her surface the action of the sun on the oceans, creating the tides and wind, has created a great overworld where forces act not in millions of years, but in cycles of days, and seasons....and years. Here a different type of transformation has occured. An explosive and vibrant cascade of life has formed...dancing almost like fire to greet the loving energy of the father sun. The history of this transformation is only visible in places where this life was captured into the underworld, slowed and held in stone...otherwise, it takes only a season, a year, maybe a few dozens of years and this life structure has passed on...recycled and reinspired through the cycle of birth, death and decay.
Now on this shining yet fragile skin, a new creature, even more fragile has emerged, one which is able to dream and awaken a mind which can transmute the living and non living strucures of the mothers skin. This creature has entered the underworld and enlivens the treasures found, metals of all kinds, concentrated and pressed into structures of strength, beauty and utility, sands melted into high purity layers of electrical semi-conducting microstructures.
This creature has also learned to travel the oceans and the skies, has learned to till the earth to hold his crops. From the highest airs of the stratosphere, to the snows falling on Anarctica, to the waters of the deepest tropical jungles, traces small and large of his species' presence are found. Collected now in swarming billions, threatening to create radical almost irreversable bio-destruction, some living in gold lined castles, others living in destitution and hopelessness, a new point in puctuated equilibrium awaits.
The only hope for this new creature called man is if he will fashion a golden mirror...a perfect reflection with a hue that exposes and nourishes his compassion. The perfect reflection of himself in the golden mirror will be his guide to transform the under and overworld into a union which will be the launch pad to the stars...which have always surrounded us.
Gold, the metal of the Incas and Egyptians, discovered in the last millionth of the earth's life, is a physical discovery of the potential of the great golden mirror. In the modern times, it is brought forth to every hand, as each and every must look in the golden mirror and make a choice. This physical gold trades as a good against our currencies to assure its availability to all who save from toil, and aspire to something greater...the earliest images from the golden mirror we wear on our hands and breasts are only a symbol of the spiritual gold it must awaken.
A day? How does a day make any difference to the stars....the golden mirror is deeper than the markets and the prices.
In our hearts, even here at this forum, we seek eternity, and our souls (as MK has asked us to search) know that all events great and small are as nothing but a small breath blown into the winds of eternity.
POOR OLD SOLOMON
uponroof
(9/24/01; 22:10:51MT - usagold.com msg#: 62288)
WORLD GOLD COUNCIL....where do they get these people?
http://hk-imail.singtao.com/txtarticle_v.cfm?articleid=29827&intcatid=9
Time for my weekly WGC rant.....
If I'm not mistaken, the link above is very close to the press release distributed months ago, obviously without the reference to the terrorist attack. The meat of the release is that they're still pushing jewellery, as they were months ago....of course.
Now let me ask a simple question....Even if you somehow believe that pushing jewellery is agressive enough in this world screaming for real base value, do you believe they had the jewellery message right months ago, before 911?
With all the recent inflamatory elements added to the gold market, doesn't it warrant re-evaluation of this 55 million dollar marketing plan? Are we to believe that this marketing 'plan' is so enormous and set in motion that it cannot now be improved to coincide with today's environment? I think the horses rear end can answer that.
The entire world financial market is shifting towards gold, as global competitive currency devaluation begins, and they choose to stay with a jewellery-magazine plan designed several months ago?
What they are saying is: the message they designed under much different market conditions, is the message they want to use today. It's comparable to the Airline Industry maintaing previous security standards from before 911.
Different markets require different approaches for maximum results. But my friends, they're not even close to getting this right. IMHO their first design was not suited for the previous market and much worse suited for this market.
This continuation of their lame strategy after drastic market dynamic changes is proof, IMHO, of a sabatoged effort from start.
55 million bucks!....I would bet my left nut that GATA would get better results with one tenth of that capital.
cwa
(9/24/01; 21:50:26MT - usagold.com msg#: 62287)
PRICE GUESSING CONTEST
####$285####
No big move up just a consolidation and continuation of this trading range. The "common" man will be fixated on the stock market, as directed by the mass media.
(unless, of course, there is a 2nd wave of attacks in the US)
Nomad
(9/24/01; 21:11:48MT - usagold.com msg#: 62286)
#### $288 #####
#### $288 #####
I do not see much price change until after the American public has seen concrete evidence of the mistake of starting yet another MiddleEast conflict.
Netking
(9/24/01; 20:19:35MT - usagold.com msg#: 62285)
$300 POG to be breached . . . .
http://www.economictimes.com/today/25comm05.htm
Snippet:
"AHMEDABAD GOLD prices, which have stayed volatile amid fears of a possible US attack on Afghanistan, could breach the $300-mark and keep Indian de-mand subdued, dealers and analysts said on Monday.
"The global gold bullion market is quite volatile now. If the United States launches an attack, prices could test the $300 (per troy ounce) level and even nudge up to $320," HP Rajdev, a bullion analyst said . . . . "
-----------------------------------------------------------
MK - You got me thinking now!
auspec
(9/24/01; 20:19:02MT - usagold.com msg#: 62284)
Black Blade
I am extensively involved in the X-Cal properties in this area of Nevada. You likely know this project better than I, the historic Sleeper "sleeper". Any thoughts?
Thanks for all your devoted and keen input.
a
USAGOLD
(9/24/01; 20:13:59MT - usagold.com msg#: 62283)
A CALL TO CONTEST! A CALL TO CONTEST! A CALL TO CONTEST!
Knights and Ladies:
A POSTING CONTEST CALLING ON YOUR MOST REFINED SKILLS
(And I'll bet you think I've forgotten how much fun these contests can be. . . .)
We have endured much over the past several weeks, and we have not had a contest in a very long time -- two good reasons for a little diversion, or maybe that's the wrong word. For what this contest demands of its participants is some "soul" searching. . . some "political economy" searching. . . some "belief" searching. As such, many will not think it relaxation, but a call on our greatest skills in erudition and posting. This, it no doubt will be. There are those who might think this is not the time for a contest, but I would say there could not be a better time. As we reach into the depth of our own souls perhaps we can help our fellow goldmeisters, our friends and associates.
The statement brought to this Table Round is as simple as it is direct, and to start each post it must be answered "True" or "False". All else follows.
The statement is this:
The world today is a different place today than it was 9/10/01.
TRUE or FALSE.
Each entry must bring the discussion around to gold (naturally) and must be at least 50 words in length, though you can post as much as you wish. One link in the customary place to illustrate is both encouraged and allowed.
Each entry must be marked in the subject box as:
****The World Is a Different Place Today Than It was 9/10/01 **** (Surrounded by stars)
Ignore gold and disqualify your entry.
The winner will receive a pre-1933 gold British sovereign from the Royal USAGOLD TREASURY. The runners-up will receive each a one-tenth ounce gold U.S. Eagle -- two will be awarded.
Each first-time poster --either in the price guessing contest or the posting contest -- will receive a U.S. Silver Eagle. If you are a first time poster, you must e-mail the sitemaster@usagold.com notice that you are such. Please do not try to slip one by us, each claim will be checked. We very much encourage our lurkers to take this as an opportunity to participate in the discussion. Silver has motivated many of our best posters to post the first time. May it motivate you.
(Marie, to the vaults! Make ready the coin! Count up our stacks! The Contest is About to Begin. . . . .)
PRICE GUESSING CONTEST:
In addition to the posting contest, there will be an additional contest calling on participants price-guessing skills -- and what better time than now than to call on those skills? Whoever is closest to the settlement price of the December contract on the Comex for the Friday close, September 28, 2001 wins a pre-1933 British sovereign. There will be no runners-up. He or she who first claims a price owns it and no other can take it. Choose carefully. Each price pick must be accompanied by 25 words why this price is the one you choose. All entries must be on the board no later than Thursday September 26, 2001 10AM mountain time. No 25 word commentary, no prize. No late entries will be accepted.
All price entries must be surrounded by #### signs, as follows:
#### $875 #####
The posting contest will go from this moment until Sunday, September 30, 2001 midnight mountain time.
Only one entry per category per contestant.
I wish you all well, my friends, and good luck.
May the best poster win.
auspec
(9/24/01; 20:10:57MT - usagold.com msg#: 62282)
Trail Guide
Time to get out the machete and clear some paths!
auspec
(9/24/01; 20:07:49MT - usagold.com msg#: 62281)
Rich
Per your post:
"To be right in your forecast and then to fail to capitalize on that forecast is the unkindest cut of all in a business that can be very unkind indeed." END
I would be embarrassed to tell you how much money I have flushed shorting the SM {in a multitude of forms}unsuccessfully over the last 7 or 8 years. I gave it one hell of an effort, no regrets. Just because one knows something is going to happen, doesn't mean it't easy to capitalize upon. And yes, we are waiting for the metals market to 'overreact in our favor' now! The cycles!
Oh boy, what will the rate cuts do to BigFloat, the Sasquatch Fiatum Fraudulonem? Phone home, BigFloat?
Oct. 9th.......... Will Reg get justice, or is there no more justice? Pretty black and white from this angle
a
Cavan Man
(9/24/01; 20:05:16MT - usagold.com msg#: 62280)
auspec
Thanks for the "hope". Was feeling a little melancholy today. Take care...CM
Mr Gresham
(9/24/01; 19:18:33MT - usagold.com msg#: 62279)
The Trail, & congrats to Simply
I was stuck waiting at a restaurant for an hour today, and the flash of delight came to me when I remembered I had the July and August Trail posts with me in the car. Yes!
People must have wondered what that nut was doing flipping through pages all over the table (almost a major salsa spill), and underlining just about everything that hadn't been underlined the first time I read them.
We really have been gifted with a look several leaps ahead at what may be. The broad outline, details to follow. Those two guys are really something. Really something.
Just like some who were saying for years: "The Middle East will explode, dragging us in..." Then, when it happens, "So, THIS is what it looks like. THIS is what they were saying."
Congratulations, Simply Granny! Rest well, and get those fundamental teachings across to a new generation...
Black Blade
(9/24/01; 19:17:45MT - usagold.com msg#: 62278)
RE: auspec
Good to hear from you,
Actually I did a couple of projects for Getchell Gold when it was owned by First Miss Corp. The "accidental" discovery of Turquoise Ridge is a very funny story, though I am not at liberty to discuss the matter. All in all, the Getchell deposit will eventually be mined as it is relatively high grade and development work is well underway. I know the many competent people involved there. Actually I also know a bit about the Coral Gold area adjacent to the Cortez-Pipeline Project as well (CB2 is well acquainted with this project I believe).
I don't know what PDG CEO Jay Taylor thinks about the POG manipulation. I met him only a couple of times, though he did say that the forward selling game could be over as far as PDG was concerned and the POG jumped higher (right after the WA announcement). Then Barrick was scared out of their wits and on the very next trading day they announced that they not only would sell forward, they sell much more forward. The rise in the POG had them on the ropes and they knew it. They were about to face the music much like Ashanti (ASL) and Cambior (CBJ). They had no choice but to try to constrain the POG anyway they could. If the POG kept rising, then ABX would be out of business today (owned by their counter-parties). Afterward PDG caved in and ABX rushed in to purchase puts in an overtly obvious desperate mad scramble to prevent their demise. Strange games these people play. That's why I recommend investing only in profitable, unhedged, and reasonably priced Gold miners (HGMCY, GOLD, MDG, and maybe GG). ABX is none of these - they are unprofitable (-$1.93/share the prior quarter, -$1.94 last quarter, and on track for further losses, and grossly over-hedged). The only ones profiting are Munky and Oliphant (rhymes with elephant) - Beware "It's a Jungle Out There."
Of course, I would be remiss if I did not advise a solid hard asset Physical PM position - the ultimate portfolio insurance. Cheers!
- Black Blade
R Powell
(9/24/01; 18:54:43MT - usagold.com msg#: 62277)
auspec/ an encouraging word
Thanks for the alert.
One of my favorite market trading books is Gallacher's "Winner Take All". Chapter 7 is about execution, with a subtitle of "Being Right and Being There".
This is from that, "You will also find that when you are correct, fundamentally, the market will overreact in your favor.."
Auspec, in keeping with your words of encouragement, Gallacher also writes, "To be right in your forecast and then to fail to capitalize on that forecast is the unkindest cut of all in a business that can be very unkind indeed."
As for encouragement, The FOMC meets again next Tuesday. By then the indexes will be down again and rates will probably be cut. Soon enough these cuts should weaken the dollar, no? This should be positive for gold and silver.
Maybe, on October 9th....??
Rich
auspec
(9/24/01; 18:54:25MT - usagold.com msg#: 62276)
Belgian
Did you see John Doe's 62267?
Buena Fe
(9/24/01; 18:29:05MT - usagold.com msg#: 62275)
quick note
wonder how long OPEC country support for GWB's terror war will last now that the au cabal has also smashed oil to talk up eco-recovery. The bankster cabal is smashing all things real in a last ditch effort to keep rosy perspective of paper use among sheeple.
auspec
(9/24/01; 18:28:53MT - usagold.com msg#: 62274)
Black Blade
How{e}'s my bi-lingual friend? What a harvest that was reaped courtesy of Bre-X, eh? Talk about obfuscation. Sometimes when in a theatre and someone yells FIRE!, even though you know there is NO fire, it's prudent to get the hell out of Dodge, or Vancouver, or Toronto for that matter. Only the very quickest can SMELL a watershed event.
Now about PD, something is whispering to me that current CEO needs little 'splaining' about gold malign forces.
Frank Veneroso said many years ago now that the most bullish factors/scenarios possible for gold would be catching the USG in blatant manipulation of same. Talk about a wake up call for the importance of gold!
Smoke? Yep. Fire? Si. Incineration? Como no!
Regards,
auspec
PS Ask cb2 about Getchell.
auspec
(9/24/01; 18:15:22MT - usagold.com msg#: 62273)
Belgian/Alerts
Hello Sir! Far be it from me to incite someone to gamble or speculate in the precious metals, that would be a betrayal to my name {smile}.
In reality this Midas "Alert" was simply put up by this messenger because I believe MANY want to see what Bill Murphy, our own Don Quixote, is chasing lately. GATA is doing great work, and clearly has upset 'business as usual' for the anti-gold forces. LeMetropole Cafe commentary has been spot on in many fields. They, also, were well ahead of the oil situation, as well as the crashing SM. Gold is an EMOTIONAL metal, in fact the most so of all. I am a strong supporter of theirs as I have seen the track record and I agree with the information in the 'Alert'. When the elitist bears turn bullish the trumpets need to sound. You certainly did not take it lightly when Rothschild Bank representatives came out for higher POG. These items get my attention!
The other reason that I have no hesitation in putting up such an alert is for MORALE. We are long suffering and you will semi-regularly see gold advocates capitulate even on this site. Some of my biggest investment mistakes or misses were in being RIGHT, but not being patient enough. People need HOPE. You and I hold gold for even possible future generations, but we are quite a ways up the trail head. I started in this field for reasons none other than to make money, as quick as possible. As they say, life is what happens while you're busy making other plans. An education and a most worthy cause have been the unintended result, thank you.
Bill Murphy is nothing if not persistent! We both know his message on gold is correct, but we do not know the timing, closer by the day however.
Long Term Capital {GOLD} Management {HOLDING!}. Yes, SIR! Let's get em from every angle.
Kind regards,
Au{speculator}
Old Yeller
(9/24/01; 16:44:50MT - usagold.com msg#: 62272)
Deja Vu day
Let's see,we have a monster rally,a central bank selling gold,a paper blizzard hitting the oil market and Abbey Jo warbling soothing words about the undervalued stock market.
Wonder if the meeting of the masters of the universe last week has anything to do with it?
Cavan Man
(9/24/01; 15:11:29MT - usagold.com msg#: 62271)
Belgian
With all of the "money" creation lately combined with the steep drop in crude futures I would expect the price to rise soon and not fall further. Remember, oil producers could sell 50% less at double the price and have same revenue.
Sound crazy? So too the world we live in (think again).
Belgian
(9/24/01; 14:31:41MT - usagold.com msg#: 62270)
Amazing !
In what kind of world are we tumbling in ? A global commodity "crude oil" that can change 30% in price within less than 10 trading days ! This has nothing to do anymore with the definition of "speculation". What are these financial gamblers adding to the general well-being ?
Do we need them and what will stop this irrational idiocy ?
These artificial mega-swings can impossibly contribute to a sound economy, based on a minimum of stability.
This free capitalistic society is playing a dangerous game.
I'm not the one who desires, regulation...but this foolish game will end up in a stoned drunken general collapse.
So far the downhill road, still mirrors, the violent volatility of the 10 years uphill wall of worries.
The financial facade of the economy is a mad-house ! Amen.
POG, remarquably stable !
sourdough
(9/24/01; 11:30:10MT - usagold.com msg#: 62269)
(No Subject)
Media Advisory - Gold! comes to Vancouver
A celebration of beauty, passion and treasure
comes to Vancouver
Pacific Mineral Museum brings together gold collections from 15
different countries, including samples from Ancient Greece and the Roman
Empire, Circa 561 BC
VANCOUVER, Sept. 24 /CNW/ - Gold! A celebration of beauty, passion and
treasure, is being presented at the Pacific Mineral Museum October 1 -
November 4. Gold! showcases the largest collection of ancient and modern gold
ever shown to the Canadian public. Displayed together for the first time, the
multi-million dollar exhibit will feature a variety of artifacts from more
than 15 countries, including Australia, Brazil, China, and India.
"From the rare gold crystals to the spectacular gold bars, Canadians have
never seen an exhibit of this magnitude," said Ross Beaty, president, Pacific
Mineral Museum Society. "This exhibit illustrates the importance of gold
throughout the ages, the role it plays in our economy and the role it will
have in our future."
Gold! traces the story of gold from its natural form through its many
practical and ornamental uses. The exhibit will feature extraordinary gold
crystals, gold bullion and bars, gold jewellery and historic coins, including
the first gold coin ever struck in Ancient Greece circa 561 B.C., and the only
coin ever struck by Genghis Khan, circa 1221. Also on display will be the
Harvard Gold Collection's renowned "Horn", widely considered to be the finest
and most desirable gold specimen in the world.
In celebration of the exhibit, Mayor Phillip Owen has declared October 1 -
October 7, 2001, "Gold Week" in Vancouver.
What: Exclusive media preview of Gold!
Refreshments will be served
When: 11:00 a.m., Friday, September 28, 2001
Where: Pacific Mineral Museum
848 West Hastings Street, Vancouver, B.C.
Ross Beaty, president of the Pacific Mineral Museum Society and Donald
McInnes, president, B.C. & Yukon Chamber of Mines will be available for
interviews.
-30-
For further information: Wendy Hartley, (604) 488-1100 to register and
confirm your attendance
WORLD GOLD COUNCIL has 1 releases in this database.
cwa
(9/24/01; 11:01:07MT - usagold.com msg#: 62268)
re: Request for Information: Money Market denominated in SF or Euro's.
Cassius:
You might try Everbank. I've heard that they offer different currencies on their deposit accounts.
I think that they are online at their name with a dot com suffix.
(I hope that MK doesn't think of this as advertising)
cwa
John Doe
(9/24/01; 10:42:51MT - usagold.com msg#: 62267)
Just watching the wheels go 'round and 'round
Today Americans would be outraged if U.N. troops entered Los Angeles to restore order; tomorrow they will be grateful! This is especially true if they were told there was an outside threat from beyond, whether real or promulgated, that threatened our very existence. It is then that all peoples of the world will pledge with world leaders to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well being granted to them by their world government. -Henry Kissinger, in an address to the Bilderberg organization meeting at Evian, France, May 21, 1992. Transcribed from a tape recording made by one of the Swiss delegates.
We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order. -David Rockefeller
Carl H
(09/24/01; 09:57:13MT - usagold.com msg#: 62266)
POG after 9/11
Good Morning all:
I was wondering if anyone has a daily graph of the price of gold for after 9/11 when the bid/ask spread was huge. Specifically, I am looking for one that plots transaction price against time of day. I am wondering if the POG spent more time at the bid or ask.
Cassius
(9/24/01; 09:34:44MT - usagold.com msg#: 62265)
Request for Information: Money Market denominated in SF or Euro's.
I'm a long time lurker who respects the knowledge base that gathers here. I'm in need of some help. Does anyone know of any mutual fund which provides a Money Market denominated in either Swiss Fancs, Euro, Yen? etc. I'm going to need to hold some cash while I build a house and want to protect against the dollar going South. As an aside, I already hold a significant amount of PM's and gold stocks. I'd appreciate any help offered Thanks. Cassius
Old Yeller
(9/24/01; 09:26:34MT - usagold.com msg#: 62264)
Time for the tried and true bully strategy
http://www.bearforum.com/cgi-perl/bbs.pl?read=184951
Bolivia to sell non-performing gold reserves.Have the wizards from the Bolivian monetary brain trust been following the developments of the last two weeks?They have obviously seen something the rest of the currency markets have missed.Maybe they got some expert advice from the nice men from NYC.
When the strain becomes pronounced'start twisting the arms of the little guys in the playground
USAGOLD
(9/24/01; 09:10:19MT - usagold.com msg#: 62263)
Today's Commentary: Why a Return to Normalcy May Be a Forlorn Hope
http://www.usagold.com/Order_Form.html
Below is a portion of today's Commentary & Review available normally by private password only. You can gain free access to this (almost) daily report on the gold market (and all that affects it) as well as our widely read hard copy newsletter, News & Views: Forecasts, Commentary & Analysis on the Economy and Precious Metals by going to the link above (registration required) or calling USAGOLD's offices -- 800-869-5115. Available to current and prospective clientele in the United States, Europe, Canada and Australia. If longevity and growing readership are the test, these may be the best reporting services on gold available anywhere. Thank you for your interest.
9/24/01
In Brief: This morning's $3 drop in the gold price and 237 point rise in the Dow reflects hope on the part of investors and market professionals that the financial markets will return to some semblance of normalcy, but that may be a forlorn hope for a number of reasons:
1. The markets were headed down long before the twin tower terrorism. 9-11-01 intensified the slide and gave it cause.
2. Over the past week, the Congress issued $50 billion new dollars to deal with the 9-11-01 aftermath; the president promised to bail out the insurance and airline companies; Alan Greenspan printed $50 billion to bail out European treasury note holders and the banks opened the spigots for anyone who needed money to save the stock market. In my nearly 30 years watching markets and the authorities reaction to them, I have never seen this level of involvement, and we have only just begun. . . .and all this money printing spells INFLATION with a capital "I".
3. When Alan Greenspan lowered interest rates another .5% . . .
(Continued at Commentary & Review page accessible by going to to Daily Market Report page and following prompts. Requires registration.)
Black Blade
(9/24/01; 06:38:41MT - usagold.com msg#: 62262)
Killing the Stock Market by Llewellyn H. Rockwell, Jr.
http://www.mises.org/fullstory.asp?control=788&FS=Killing%2Bthe%2BStock%2BMarket
Snippit:
It is conceivable that stocks might have come back after September 11, just as so many people had hoped. But the meddlers in DC seemed to be doing everything in their power to make sure that it would not happen. As a result, the government has compounded the destruction wrought by the terrorists, and added to the economic miseries of the moment.
Black Blade: Interesting article.
Black Blade
(9/24/01; 06:34:52MT - usagold.com msg#: 62261)
US to issue more debt to rebuild economy
http://www.smh.com.au/news/0109/24/biztech/biztech5.html
Snippit:
Forget all those stories about the death of the US Treasury bond market. The US Government is going to have to sell a lot more debt if it is to pay for the bail-out of the airline industry, reconstruction of Lower Manhattan and war on terrorism, if yield levels in the bond market are a guide.
Black Blade: Hard to defend the US Budget Surplus myth now.
Black Blade
(9/24/01; 06:31:21MT - usagold.com msg#: 62260)
Workers brace for more layoffs
http://www.usatoday.com/money/general/2001-09-24-layoffs.htm
nippit:
The terrorist attacks have employees fearing for the safety of their jobs, as well as for their safety in the workplace.
Black Blade: The "Bone Pile" will grow higher.
uponroof
(9/24/01; 06:29:32MT - usagold.com msg#: 62259)
An Interesting Thread from Luskin's Discussion Center
http://www.luskinreport.com/luskin/latest/default.htm
Good Morning all,
Anyone care to guess at where POG closes on Friday? If this week is anything like last week, with an additional Arab alienating air strike or two, I'll guess 296. Almost fell off my chair when Andy at Mitsui went straight. That's gotta be a major indicator. Then again, the forces we fight are deep and wide in evil.
Here's some interesting thoughts from Luskin and company on POG.
Have a great day
***************************************
Topic: Incentives for selling gold? (1 of 4), Read 51 times
Conf: The Trading Desk
From: Ed Rombach club-ed@mediaone.net
Date: Friday, September 21, 2001 04:42 AM
Spot gold is reported offered at $295 according to http://www.kitco.com/. The web site is also showing negative gold leasing rates of -19bp for 1-month and -6bp for 2-months. I've never seen negative gold lease rates before. If these are real rates, it implies that counterparts in leasing transactions are being paid to borrow gold, presumably with the intention of selling it. The bullion banks and some producers who hold large short positions must be desperate to hold gold down at this point. It would have to be the central banks that lease the gold who are making the market at negative lease rates. My guess is that something will crack soon and gold lease rates will explode into the 15%-20% range as short covering in gold runs its course.
Ed Rombach
Topic: Incentives for selling gold? (2 of 4), Read 34 times
Conf: The Trading Desk
From: James Crystal jfcrystal@hotmail.com
Date: Friday, September 21, 2001 01:12 PM
Hey, Ed---
You know, I've been scratching my head in wonderment that Gold has been so tame in the face of 9-11, compared to past risk-inducing events of far less import. Could it be that the fix is in, to the extent possible, by the anti-gold bugs, and the power elite who are afraid of markets going down too much? Like the George Soros deal with the British Pound? This could be a real buying opportunity, in gold, if the market also swamps the 'kings' who are trying to hold back the tide. What do you think?
Topic: Incentives for selling gold? (3 of 4), Read 38 times
Conf: The Trading Desk
From: Ed Rombach club-ed@mediaone.net
Date: Friday, September 21, 2001 01:50 PM
James,
My target level for gold as an optimal equilibrium price is right about $335/oz. Although, I suspect that when the leveraged players puke out of their short positions, they could drive gold quite a bit higher than $335/oz, but probably only for a short while before it settles back down.
Ed
Topic: Incentives for selling gold? (4 of 4), Read 40 times
Conf: The Trading Desk
From: Donald Luskin don@luskinreport.com
Date: Friday, September 21, 2001 03:34 PM
Jude argues that the reason gold isn't going through the roof is that the "terrorist tax" will shrink the economy to a size that is appropriate to Greenspan's deflationary levels of liquidity.
-=-=-=-
Don Luskin
CEO
Post New Topic | Reply to: "Incentives for selling gold?"
Black Blade
(9/24/01; 06:28:20MT - usagold.com msg#: 62258)
Gold Stocks: Protect Portfolio With Hedge Against Hard Times
http://www.ctnow.com/scripts/editorial.dll?fromspage=CG/articles/business.htm&categoryid=&bfromind=377&eeid=5307528&eetype=article&render=y&ck=&userid=206553684&userpw=.&uh=206553684,2,&ver=3.0
Snippit:
Gold investments are this year's dogs that are finally having their day.
Need evidence?
The Standard & Poor's 500 has declined 24 percent in 2001. The Standard & Poor's Gold Index, meanwhile, has advanced 23 percent. This inverse movement of gold stocks, vis-a-vis stocks in general, is a textbook case of how a "hedge" can and should work within a portfolio. It's the tiny trampoline, that one spot with bounce, when more dependable investments are crashing to earth with a thud.
Black Blade: Physical PMs are the ultimate portfolio insurance hard asset, yet PM stocks of profitable and reasonably priced "UNHEDGED" miners are a nice diversifier.
Black Blade
(9/24/01; 06:16:37MT - usagold.com msg#: 62257)
Bin Laden rigged oil and gold prices - bank chief
http://portal.telegraph.co.uk/news/main.jhtml;$sessionid$D3LMPVYAABAF1QFIQMGSFGGAVCBQWIV0?xml=/news/2001/09/23/woil23.xml
Snippit:
OSAMA bin LADEN is believed to have made a massive profit from trading in oil and gold as well as shares on the eve of the suicide attacks blamed on his followers. Ernst Welteke, president of the Bundesbank, said financial investigators had found strong indications of suspicious dealings in gold and oil, as well as unusual movements in airline and insurance shares, in the days before the September 11 attacks in the United States.
Black Blade: Could it be that now there is an effort to "punish" these industries? We shall see. Waiting for the "other shoes to drop."
BTW, major blocks of "Buy Orders" in the US Markets are in this morning from companies buying back shares in a concerted effort to prop up the market. The SEC special rules changes have been extended.
Black Blade
(9/24/01; 06:06:32MT - usagold.com msg#: 62256)
Futures Rocket Higher
http://www.mrci.com/qpnight.asp
Market Futures higher on European markets new optimism that there will be no War. US markets are playing follow the leader. The strong USD helps Euro exports while hurting US exports. Oil and PMs get beaten back for now.
Black Blade
(9/24/01; 05:58:10MT - usagold.com msg#: 62255)
Swissair Sets Business Plan, Cuts 3,000
http://biz.yahoo.com/rb/010924/business_airlines_swissair_dc_1.html
Snippit:
ZURICH (Reuters) - Troubled Swiss aviation conglomerate Swissair Group unveiled a new business plan on Monday that radically reshapes airline operations and slashes at least 3,000 jobs from its Gate Gourmet catering unit.
Black Blade: Even the Swiss add to the "Bone Pile."
Black Blade
(9/24/01; 05:54:53MT - usagold.com msg#: 62254)
OPEC Finds Oil Price Tough to Defend
http://biz.yahoo.com/rb/010924/business_energy_opec_dc_1.html
Snippit:
VIENNA (Reuters) - OPEC meets this week knowing the twin threats of global recession and a U.S.-led war on terrorism will provide the sternest possible test of the policy that has kept oil prices on high over the past two years. Keen to assure the world it will maintain secure supplies, the cartel already has said it will act to keep prices under control if U.S. reprisals for last week's suicide attacks on the United States destabilize the oil-rich Middle East. While oil markets will carry a ``war risk'' premium in coming months, OPEC is just as vulnerable to a global economic downturn that would undercut fuel demand.
Black Blade: Severe Recession means that companies will not be producing as much and therefore will require less energy. OPEC is in a bind. They could reduce production to boost prices. One other issue is that tanker fleets are now paying much higher insurance premiums since the attacks. That could be a problem.
tedw
(9/24/01; 05:54:12MT - usagold.com msg#: 62253)
Ominous news
http://www.usagold.com
Lebanon and Egypt have both refused to co-operate with the US effort on terrorism.A spokesmen for the Lebanese government said they would refuse to hand over 40+ people wanted by the US for terrorism, stating that they believed these people to be resistance fighters.
I suspect in the future we will be seeing attacks by the US against Lebanon, probably with Isreali help. I dont see how this could lead to anything but a middle east eruption of war, probably involving Syria and perhaps Egypt.
Black Blade
(9/24/01; 05:46:31MT - usagold.com msg#: 62252)
European Markets Rocket Higher
http://quote.yahoo.com/m2?u
Not much news to trade on except that petroleum prices have crashed and PMs have given back Friday's gains. The perception is that there is not likely to be War resulting from the terrorist attacks. Now to see how OPEC responds to the lower petroleum prices. "Interesting Times"
Spartacus
(9/24/01; 04:23:07MT - usagold.com msg#: 62251)
(No Subject)
LIBERTY - OBITUARY OR REBIRTH?
http://www.the-privateer.com/gold6.html
Belgian
(9/24/01; 02:34:20MT - usagold.com msg#: 62250)
@ Auspec # 62240
Good loyal Knight...something is making me feel a bit un-easy, when reading all this "alerts" on imminent POG-explosions. I don't want to throw any rocks or even gravel at those Gold-Activists, that I do admire and esteem very highly, but...
Given the Gold situation, as it is, there is no need for an alarmist attitude and un-necessary, exitement about the timing and the extend of the final POG Re-Valuation. It has something contra-productive in it. It is inciting speculative/gambling attitudes and visions.
Wouldn't it be much wiser to calmly elaborate on the deep fundamental reasons, why Gold should be accumulated now more than ever. Constant hyper-focus on the smallest POG move, hasn't any educational value, and is not going to encourage, Gold-Candidates, to accumulate a substantial part of physical Gold in their possession.
POG-hyper-focus is not an eagle's vieuw. I know many people who are still in the possession of Physical, accumulated at much higher prices than today. They have no message on this "for a few dollars" more or less, reporting.
Isn't it possible to align (associate) with a few Gold-Funds and mobilize paper for Gold exchange, together with a very precise, deep and structured educational, guidance as to envisage the Long Term *HOLDING* of the yellow ?
A waterproof, complete Gold-Manuel, that touches the perfection and leaves you to no other conclusion that the opportunity on Gold, today...is an unescapable moral obligation for any serious investor. A full, complete report that must impress all independant movers, left.
Hope that this reflexion is not mis-interpreted as misplaced criticism. A very good morning to you.
ViewYesterday's Discussion.
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