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ARCHIVED DISCUSSION FROM 3/25/2003 All times are U.S. Mountain Time (Yesterday's Discussion.) aussie (03/25/03; 23:57:22MT - usagold.com msg#: 100312) Thanks Topaz Thanks Topaz, - I just had no idea where to put what where. Had always marvelled at the way you guys and gals had put up links to various articles and appreciated them greatly. Thanks again. aussie (03/25/03; 23:54:24MT - usagold.com msg#: 100311) Gold: Durable Metal; Changing Markets http://www.jbwere.com.au/perspectives My son has just shown me what to do to get the link going - hope it works! I found the article a concise overview and an easy read. Cheers Topaz (03/25/03; 23:49:27MT - usagold.com msg#: 100310) @aussie www.jbwere.com.au/perspectives aussie...see if that works. mikal (03/25/03; 23:32:07MT - usagold.com msg#: 100309) Managing metals, oil, currencies, equities... http://www.gold-eagle.com/editorials03/hultberg032603.html CORNERED RATS AND THE PPTNelson Hultberg -Excerpts:"Conventional Wall Street media and Washington establishment types are quick to denigrate those of us who theorize about the establishment of a secretive PPT[Plunge Protection Team] organization to manipulate the markets. But it is a matter of public record that the Working Group on Financial Markets (WGFM), which we allege to be the parent to the PPT, was formed under the Reagan administration. It was done by Executive Order on March 18, 1988.This order states that the major appointees of this group are to be the Secretary of the Treasury, the Federal Reserve Chairman, the SEC Chairman, and the CFTC Chairman and those they designate to fulfill their purposes. The purposes, as defined in the Executive Order, are to "[enhance] the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and [maintain] investor confidence." The order goes on to say, "To the extent permitted by law and subject to the availability of funds therefore, the Department of the Treasury shall provide the Working Group with such administrative and support services as may be necessary for the performance of its functions." (Executive Order 12631 of March 18, 1988, 53 FR, 3 CFR, 1988 Comp., p. 559).....The WGFM (in conjunction with mega-bankers they chose) was to make sure there was always sufficient "liquidity" to prevent any serious plummeting of the market again. And whatever additional interventions were deemed to be necessary would have to be tolerated. The fact that severe market volatility was largely a result of government manipulation of the money supply and interest rates was merely blanked out on by the WGFM and its creators. A study of our nation's economic history will show to any objective observer that there are natural fluctuations inherent in the free-market that humans must always put up with, but which are always self-corrected if the forces of the market are simply LEFT ALONE. This is basic Adam Smith economics; the smoothest economy is a laissez-faire economy. But these fluctuations become extremely exacerbated with the intervention of government into the mix to try and "manage the economy" so as to eliminate these fluctuations. The fact that the Federal Government had become in the 20th century a massive interventionist-manager of the economy, and thus a massive exacerbator of these natural fluctuations, was something that just could not be grasped by the bureaucratic mentality. The modern day statist has been taught via Marxist-Keynesian indoctrination in college to believe that a "free" market is dangerous, chaotic, and unworkable. He is not capable (or not willing) to dispute this view. Thus, he naturally moves toward more and more MANIPULATION of market forces as his duty. And the very volatility he seeks to diminish, he intensifies......"But Heller's idea was different. He wanted a more direct approach, especially when the bond and currency markets were becoming uncontrollable [like they are these days]. Heller believed that in an emergency, the Fed should start buying stock index futures contracts until it managed to pull stocks out of their nosedive. Essentially, whenever there is heavy buying of these futures contracts it causes the underlying stock market to rise. The futures contracts can be bought cheaply; they are highly leveraged so you can get more bang for your buck, and they eliminate the need for a rigger to purchase, say, all 30 stocks that make up the Dow. Heller explained that the process was simple. And it is. The trouble is, the government never has had authority to rig the stock market." [email from Bill King, March 11, 2003 -- kingreport@ramkingsec.com]King, who at the time was running several equity trading desks in New York, goes on to say that it was during Q1 of 1990, as the Japan bubble was bursting, that massive S&P futures buying began to be used extensively by the trusted agents of the PPT, big 'name' brokers in New York. During the crises of the late 90's, this massive buying increased even more. By this time, many skeptics of such manipulation in the investment advisory business began to realize it was definitely taking place.If you still doubt, here is a BBC release from the latest King Report on the issue: "A deal was struck last week in the United States between a former Japanese finance minister and the head of the U.S. central bank, the Federal Reserve's Alan Greenspan. There was an agreement between Japan and the United States to take action cooperatively in foreign exchange, STOCKS and OTHER MARKETS (bonds? GOLD?) if the markets face a crisis," Chief Cabinet Secretary Yasuo Fukuda said...."...So the PPT and all federal bureaucrats who know of it must continually deny its existence. They must travel by night and operate through surrogates.A New and Sinister Use of the PPTFor the past 12-14 years then, the PPT has been used by Washington to control the price movements of the NYSE through the buying of S&P futures as former Fed governor Heller advocated. Whenever a crisis appears especially threatening, the PPT swings into action to shore up equity prices on the exchange. The media sycophants of the establishment turn a deaf ear to such a claim, but it is accepted by most astute followers of the market today. The sheep who idolize CNBC choose to ignore such revelations when divulged to them because it is in their interests to have such a shoring-up agency putting a floor under them. They are happy with such an arrangement, and being unable to grasp the long range ramifications of such market rigging, they just dutifully go along to get along. That their profits are protected is all they care about. The fact that eventually such rigging will destroy the integrity of the markets as free institutions of trading is for someone in the future to worry about.Well that future is rapidly approaching us. And it concerns the new theoretical wrinkle I alluded to above. This is purely hypothetical on my part. I have no verification to prove the claim that follows. But if the reader will keep an open mind and think logically, he should come to the same conclusion that I have......The lesson here is that any substantial printing to inflate the money supply must be done SECRETLY. If it is done in large amounts by conventional monetization of bonds and deficits, then it will set off those nasty alarm bells in the Forex markets. The dollar will plummet, capital will flow out of America, and the Dow will crash.So the Fed has to print up billions of dollars and inject them into the economy without public acknowledgement.....So in the long run, the PPT's manipulatory tactics will not be able to stop the gold and silver bull market, nor will they be able to stop the continued bear market in equities.....So the Fed's strategy is to try and keep the Dow above 7000 and gold below $400 until all the dangers are purged, i.e., until the New York banking cartel has eased out of its short positions.....But such rigging will be able to buy the Fed and the New York cartel some time. If Greenspan can pull this off until June of 2004, he then retires, and can drop the whole mess in the lap of his successor..." aussie (03/25/03; 23:22:54MT - usagold.com msg#: 100308) Gold: Durable Metal;Changing Markets - www.jbwere.com.au/perspectives I have just received a magazine from a firm of brokers and it is possible to go to the link and read the article at the following address www.jbwere.com.au/perspectives - sorry I can't type the link as so many of you do, but not quite sure how to do it. Aristotle (03/25/03; 23:01:32MT - usagold.com msg#: 100307) sector, I can make no sense of your post with my pea brain I've seen you allude to this before so I know you meant to say it, but I'm damned if I can decipher it. You said:""""""The US benefits by redeeming "Old" bills for new designs because folks don't turn in illicit bills held in cash. There is a huge criminal stash of currency. This markedly reduces the number of circulation dollars and is equivalent to issued checks never being presented to the US "Bank".""""""Why should the Fed worry about the quantity of "Old" bills? It's not like they're a liability in the traditional sense -- that is, they're not convertible to Fed assets at any fixed rate of exchange/redemption. So why would the Fed want to make them effectively dead in the water (or over the water)?You've apparently thought this all out, so please tell me what sort of capital controls the Fed has in store for the digital Eurodollars that are the current counterparts of the "Old" bills now overseas.Additionally, we all know that the realm of banking functions ideally under an ever-expanding money supply -- new lending outpacing loan disposal. So, I ask you, with no convertibility of these bills putting the Fed on the hook for anything meaningful, why on earth would the Fed invite a commercial banking catastrophe through the willful monetary contraction that you appear to be describing?As far as the good doctors at the Fed are concerned, "Inflation is good for what ails ya!" In case you haven't noticed, the Fed is dutifully trying to pump up the money supply and keep the banks swimming in ample liquidity, not the contrary.Maybe you can convince us all otherwise.In the meanwhile, Gold is also good for what ails ya, and is doubly good against the bad individual side-effects of the Fed's cure.Gold. Get you some. --- Aristotle mikal (03/25/03; 22:50:52MT - usagold.com msg#: 100306) Vietnam II: The aftermath checklist 1) Riproarin inflation -Check2) Funky new hairstyles, music and clothes -Check3) Commercial application of military technology (GPS stealth wheelchairs?) -Check4) Mandatory Energy Conservation -Check5) Gas rationing -Check6) Dramatically new gold price range -Check7) Public assumes "That was the last war" -Check Black Blade (03/25/03; 22:37:59MT - usagold.com msg#: 100305) SEC chief: Earnings 'obsession' needs look http://seattletimes.nwsource.com/html/businesstechnology/134661033_donaldson25.html Snippit: WASHINGTON — The ritual of big companies projecting their quarterly earnings and Wall Street analysts issuing targets for them has become a harmful "obsession" that should get a critical look, the government's top securities regulator said yesterday. Securities and Exchange Commission Chairman William Donaldson, in a speech dissecting last year's corporate scandals, said companies in general got caught up in the bull market of the 1990s and slavishly played the earnings-projection game. That "created an atmosphere in which 'hitting the numbers' became the objective, rather than sound, long-term strength and performance," Donaldson told a meeting of the National Association for Business Economics, a group that includes economists working for companies as well as government and university economists. Separately, Donaldson said the SEC expects to hold a public hearing this spring on hedge funds, with a probe of the funds still under way. "There are also allegations of undue influence on the part of hedge funds in the marketplace," Donaldson said. The SEC has been looking at a range of hedge-fund issues, including short-selling, or profiting on falling share prices by selling borrowed shares and buying them back more cheaply. "Shorting" is a legal and established method, but hedge funds have been criticized by some for using it heavily at times. Last month, SEC Commissioner Roel Campos said he expected the agency to roll out new rules for the now only loosely regulated, $600 billion hedge-fund industry within 12 months. Black Blade: All talk and no substance. The SEC will do nothing. I find it amusing when corporate earnings are released and the carnival barkers proudly state that earnings beat the estimate by a penny or two (usually on a "pro forma" number). Never mind that much of the time the "real" earnings are consistently lower quarter over quarter. They just beat "lowered" earnings estimates. Lower the bar enough and it is easy to "beat the street". As far as hedge funds are concerned, there have been several accusations of "pump and dump" and taking positions and then spreading rumors to drive the price higher/lower. Golden Bear (03/25/03; 22:37:47MT - usagold.com msg#: 100304) sector (msg#: 100297) Added to your comments,BBC television made a remark yesterday that during the Iran-Iraq war, the Iranians tried to take Basra with 1 million troups and failed.Granted, the US troops are much better equipped, however in a guerrilla war scenario, these technological advantages are minimized to some degree.Cheers. mikal (03/25/03; 22:32:29MT - usagold.com msg#: 100303) @Cytek Your Rense link had some more "checks".*** ** *** ** *** ** *** ** *** ** *** **Subject - Vietnam II Preflight CheckUndernewsFrom Harry MasonVia Wayne and Sandra Holland3-25-3 -Excerpt:"...VIETNAM II: YOU ARE CLEARED FOR TAKEOFF Comment From Pete Wagner 3-25-3 Let me add to the list: Demoralized troops. - Check Vulnerable supply lines. - Check Conventional response to unconventional enemy tactics. - Check Political quagmire. - Check Defense industry profits. - Check Sleazy spineless politicians. - Check Working class sons dying, while blue bloods watch on TV. - Check Stupidity. - Check."Mr. Gresham's addition: "Pack journalism and sanctimonious nationalism" Check slingshot (03/25/03; 22:31:36MT - usagold.com msg#: 100302) Gandalf the White, Mr. Gresham Thank you Gandalf, for it is nice to walk amoung the living again. Does Slingshot the White get to have a staff too?Mr. Gresham. Glad you enjoyed the story and thank you for those kind words.Slingshot---------------<> mikal (03/25/03; 22:22:11MT - usagold.com msg#: 100301) @Cytek http://www.iraqbodycount.net/ Thank you. The link above is a response to: "We don't do bodycounts". 21mabry (03/25/03; 22:12:57MT - usagold.com msg#: 100300) euro I read a great article that explained the fight between the dollar and the euro in a way that I could easily understand.It gave me a different perspective on what this war may be about, it may go much deeper than just oil.It could be an attempt to keep the dollar the supreme currency in the world, and to keep the economic chickens from coming home to roost.This is probably right up Black Blades alley. This article really opened my eyes to how important oil has been to the dollar over the last several decades. good night all gonna catch some zzzzzs Cytek (03/25/03; 22:12:03MT - usagold.com msg#: 100299) @ Mikal http://rense.com/general36/viet.htm Here is the link that the post came from, my friend doesn't have any more info on him. Black Blade (03/25/03; 22:03:56MT - usagold.com msg#: 100298) Market Wrap Up – Puplava http://www.financialsense.com/Market/wrapup.htm Snippit:The worse the news gets, the more I hear that you have to look beyond today's bad news and buy because of the recovery, which has eluded us for four consecutive years. It is simply beyond most managers and investment firms to even consider that in the aftermath of a bubble, equity markets can perform dismally for decades or longer; 25 years after 1929, and 16 years after 1966. In the meantime, it appears that the US trade, current account, and budget deficits are going to get larger. This should lead to a deteriorating position for the US dollar. It also appears that Wall Street's assumption for a quick war in Iraq is wrong. A rising budget deficit, rising trade deficit and deteriorating fiscal and monetary indicates that a severe dollar crisis is on the horizon. It is this very same deteriorating fiscal and monetary condition that makes the prospects for investment in "things" that much more appealing.Today's explanation for the markets rally was a report out that residents of Basra are in revolt against the Iraqi regime and that the President is optimistic as to the outcome of the war. In the words of one money manager, "There were no new dead bodies, and prisoners shown on TV. Nothing bad happened." Okay, I guess we then go and buy stocks. Black Blade: I can relate to Puplava's analysis. The stock markets defy all logic and the Wall Street movers and shakers are either deluded or on potent drugs. The individual investor has all but left the market. Volume has been light to moderate and appears to be mostly directed by institutional money. TrimTabs reports that mutual fund outflows exceed incoming funds once again. Early in the morning long before the market opens I have noticed that when US stock index futures are sharply lower it happens – just like clockwork several huge block trades appear out of nowhere to push the index futures close to or above "fair value" and then the buying seems to suddenly dry up. It is just strange how this has been happening over the last few weeks. Then it happens again on most days in the last half hour to hour of trade before the market close. The reasons given border on the absurd as Puplava points out. Occasionally I watch the stock cheerleading infomercial channel otherwise known as CNBC. The "carnival barkers" seem to struggle to concoct some explanation for these rallies. It is no wonder that their ratings have fallen off sharply. After listening to these absurd market "analyses" I tend to get the impression that investors are either complete idiots or that these "former used car salesmen" are just pumping stocks. I usually end up clicking on Webfn.com for a more "facts only" rundown on the markets. It is also quite "interesting" that while precious metals and petroleum prices rise the stocks trend lower and in the case of the energy sector the shares are trading at 52 week lows. I am not going to get into market intervention or market rigging, but the markets certainly no longer reflect reality. In light of this I am amazed when CNBC carnival barkers and Wall Street pimps can't understand why the individual investor has bailed out of the stock market. "Interesting Times" indeed. sector (03/25/03; 21:55:40MT - usagold.com msg#: 100297) @White Hulls -- Sorry... The British Report that they know nothing about the "Revolt" in basra That from Reuters at 6:10 PM this evening... No revolt there. Just bitter resistance from citizens who have martyrdom in their daily lives. BTW the Shia retook Basra airport and drove the British off...again. The Desert Rats are calling for help.@Operative On the "New" money. The US benefits by redeeming "Old" bills for new designs because folks don't turn in illicit bills held in cash. There is a huge criminal stash of currency. This markedly reduces the number of circulation dollars and is equivalent to issued checks never being presented to the US "Bank". The new $20 is delayed.Is something up? Maybe. The debt ceiling is a big problem these days as is the war budget, regular budget deficit, balance of trade deficits and just about every other fiscal metric this country faces. The Fed is running on empty.A child can predict a change in Fed economic policy as a direct result of the war's extended timeline. There is now a previously unthinkable possibility that the US will lose in a lengthy standoff because (1) we cannot send tank crews into anti-tank defended suburbs and (2) we cannot deliver a Dresden-like saturation bombing attack without triggering an instant World retaliation.How could it have come to this? Let's all pray that a statesman somewhere emerges to intercede in this madness. It would be a start if the President removed the people that got him in this jam with their bad advice.That includes the Master of the Universe. 21mabry (03/25/03; 21:15:58MT - usagold.com msg#: 100296) (No Subject) If Bush gets a U.S. army trapped in there and they escalate to nuclear option get ready for WWIII 21mabry (03/25/03; 21:08:28MT - usagold.com msg#: 100295) dune Does anyone see any similarities to the movie dune in whats goin on, I am not comparing sadaam insane to mohadieb, but the situation. This is to much, I swear I never thought Bush would attack. 21mabry (03/25/03; 21:01:57MT - usagold.com msg#: 100294) (No Subject) Man, I am religous in my own way, if people start talking about armegedon on the board I am gonna have one more thing to worry about.Investing and gold will be the least of our problems, lets hope its not anywhere near that point.alas o babylon Cytek (03/25/03; 20:56:15MT - usagold.com msg#: 100293) Cheney daughter - human shield in Baghdad??? http://www.albawaba.com/news/index.php3?sid=245183&lang=e&dir=news 25-03-2003, 20:53 The London based Arabic daily Al Quds Al Arabi reported on Tuesday, March 25 that the American vice president, Dick Cheney, would soon head to the Jordanian capital, Amman. The newspaper claimed that the visit would be an attempt by Cheney to convince his daughter, who was in the Jordanian capital, to back down her decision to go to Baghdad within a group of volunteers who want to form human shields against the US led attacks on Iraq. Al Quds Al Arabi cited news reports it claimed circulating in Amman as saying that Cheney would arrive in the Jordanian capital soon on a special visit it described as having a "social mission." "News agencies cited sources as saying that Cheney will arrive in Amman next Friday. He will try to convince his daughter who is currently staying at a hotel in Amman not to go to Baghdad along with a group of volunteers who want to go to Iraq and form human shields against the Anglo American attacks," said the report. A U.S. Embassy spokesman in the Jordanian capital, denied that Cheney was on his way to Jordan: "The embassy has no information that the U.S. vice president will arrive in Jordan to convince one of his daughters not to travel to Iraq to join human shields opposed to war," he said. However, some sons of western officials have already volunteered as human shields in Iraq against the American invasion, including the son of the Canadian Foreign Minister, Bill Graham Although not mentioned in the the Arabic newspaper, it is likely refers to Mary Cheney, the lesbian daughter of Vice President Dick Cheney. Mary, 34, is a lesbian, and she has not kept her homosexuality a secret -- either to her friends or to her employer, Coors Brewing Co., where she was the gay and lesbian corporate relations manager. Mary Cheney Cytek- this is the first time i have seen Cheney's daughter. You will have to check her out for your self and make your own conclusion. If it were me i would have call her mark, or bill or george. Operative (03/25/03; 20:55:03MT - usagold.com msg#: 100292) @ Aristotle, Thank You Thanks for the "Go For A Walk" post. Helps put things into perspective tonight. A balm for the spirit vexed by a world raging with insanity. Strength, to endure what must come to pass. Good Night. Cytek (03/25/03; 20:50:14MT - usagold.com msg#: 100291) @ Mikal A friend of mine sent me that snip from Harry Mason. I have asked him for a link and more info.Cytek steady (03/25/03; 20:39:29MT - usagold.com msg#: 100290) is it thursday yet? like following anything else it should be interesting to watch the administration wind in this board .who will be the combatants will they even be legal combatants or illleagal. how will centinial precious metal handle the legality of this? havent they done some prep work a few months ago? anyway it will be interstng to watch! Sundeck (03/25/03; 20:30:53MT - usagold.com msg#: 100289) Norman Mailer at the Commonwealth Club, San Francisco http://216.239.57.100/search?q=cache:VL39kJSujYEJ:www.abc.net.au/rn/arts/bwriting/stories/s812509.htm+%22Norman+Mailer%22+%22Commonwealth+Club%22&hl=en&ie=UTF-8 I just listened to Norman Mailer's speech to the Commonwealth Club in San Francisco a few weeks ago."How we got to where we are now" is topical for those interested in one learned person's perception of the lead-up to current Iraqi events.This speech is probably widely available, but the link above will take you to an Australian source....Thank you to MK for making available a discussion window on these momentous events, in the great American tradition of free speech...:-)Sundeck Daniel Druff (03/25/03; 20:30:29MT - usagold.com msg#: 100288) Predictions The Book of Revelation, in The Word of God, tells of a time when Babylon will be destroyed. Babylon is roughly 60 miles south of Bagdad, Iraq. From a Bible student's perspective, the cast of characters in the mid-East and the possibility of Sadam gassing his own people presents this horrifying event as actually a fulfillment of prophesy. But would a literal interpretation negate the generally accepted spiritual interpretation which is found in many conservative Christian congregations? The Church will go apostate and there will be a great falling away.The Bible says, "There will be wars and rumors of wars." The Bible also says, "There will be a Judgement Day." The "wars and rumors of wars" certainly pales into insignificance, so why get all exorcised because things are not working out financially as projected by your speculations? Is it really wise to put your faith and trust in the Dollar or gold when we absolutely know the end of the story...Judgement Day is coming to a world near you. Where are you standing today? Are you standing with the accusers? Who are they? Ask your pastor or a Bible believing member of your family.Finally, disregard the teaching which claims a temple of stones will be built in Jerusalem before The Lord returns. The Temple is madeup of living stones...those found in The Lambs Book of Life. The false teaching gives great meaning to, "The Lord will return as a thief in the night." Those who are looking for a stone structure in Israel are not focusing on The Truth.His are in this world but not of this world.Thank you,DD Aristotle (03/25/03; 19:57:23MT - usagold.com msg#: 100287) Gonlyold -- a fiatless economy I've got a good imagination I assure you, but I can't imagine any sort of *house* that would cost 100 lbs. of Gold in a physical-based economy. Perhaps a PALACE is what you had in mind with that weighty price.To glennh10,I wouldn't be so hasty as you to condemn paper money as good-for-naught. Try spending some of it on Gold and you'll get a new opinion of the stuff, I'm sure.At the risk of gross understatement, different jobs call for different tools.Gold. Get you some. --- Aristotle 21mabry (03/25/03; 19:50:14MT - usagold.com msg#: 100286) (No Subject) They have got afgahanistan, soon Iraq, will they soon want Iran to complete the plan.Is there any reason to want that land bridge to the persian gulf.Just a thought. makcumka (03/25/03; 19:21:37MT - usagold.com msg#: 100285) Political views in this Golden Forum Personal opinion, since we were graciously allowed to voice them by Sir MK.It is truly sad when the political posts outnumber PM-related thoughts and news to the tune of 2:1. glennh10 (03/25/03; 19:18:34MT - usagold.com msg#: 100284) Re: shock and awe I was quite taken aback when I first hear this PR arrogance. It seems that TPTB seek out the movies and video games for instruction. Personally, I prefer a "sleeper" approach. A "sleeper" is a fast car that looks and sounds ordinary, and never stands out in the parking lot. This world is full of a lot of hype, a lot of sizzle, and very little steak. When someone starts to believe in and act on his own hype, the game's finished. I believe the readers of this forum have no problem identifying the difference. If we couldn't, gold wouldn't impress us. We honor gold because it's real, it's honest, fair. Even in small quantities, it carries a big wallup. If we'd (the U.S.) have stuck to honest money, if we'd have honestly paid our way all these years with gold, earned through productive output, we likely wouldn't be "liberating" the other side of the world; we wouldn't have Enron, et al carcasses littering the horizon, either. There is a price to be paid for falseness. Money is not paper. Wealth is not debt. The menu is not the meal. Financial sector growth is only one dimension of a system; it must feed into real productivity, not be its substitute. Ubiquitous paper money is the ultimate hype; a shell game that we've become totally dependent upon that's just about played itself out. 21mabry (03/25/03; 18:54:44MT - usagold.com msg#: 100283) cramer Jim Cramer called the stock market 3 day rally last week, the greatest in 20 years. That man just insulted my intelligence what little I have. How can he say that after the last 3 years. Aristotle (03/25/03; 18:54:00MT - usagold.com msg#: 100282) Go for a walk. Phone your friend.Embrace your family.Plan your garden.Try to catch a fish.Watch the sunset.Is the moon waxing or waning today?Get a perspective on life.Read a book. A *good* book. Read thousands.Broaden your mind.You'll find you have precious little leverage with which to quibble as you come to learn how much you truly *don't* know about everything driving the peoples of the world today.Lend your support where you feel it's needed, turn your back where it's utterly wasted -- lest you squander your greatest gift of time.Gold. Get you some. 'Cause it's about time. --- Aristotle Operative (03/25/03; 18:51:13MT - usagold.com msg#: 100281) Thought Control Central http://asia.reuters.com/newsArticle.jhtml?type=topNews&storyID=2440714 Important Message From Thought Control CentralNot to worry general public, you will still be able to see the latest in global bombings, troops advancing, and all the high tech wonders of war in the 21st century, live of course in most cases, right from the comfort of your home. However, the censors of the New York Stock Exchange have deemed it necessary to remove the press passes issued to anyone who might publish pictures or news that the war is not going to plan. Especially, it the markets take said news to mean anything less than it is a great time to be investing in the markets. (Imagine, showing bodies of dead soldiers! People might get the wrong idea about war, that some, even our own, my son, your daughter, might actually die. Better to keep the entertainment side of the war, things being blasted to rubble like some video arcade game, than to tell the truth about war.) Well I guess the pattern continues, if you can manipulate the markets...why not the press. Aureo Speedwagon (03/25/03; 18:31:07MT - usagold.com msg#: 100280) @Cytek 28. Enlisted men fragging officers: check. Golden Bear (03/25/03; 18:28:23MT - usagold.com msg#: 100279) cyberbat (msg#: 100278) Bravo cyberbat,got caught up in your ridiculous left/right political quagmire, totally missing the point...Did I specify anywhere that Clinton was any better? Strike 1!Not an American... Strike 2!Labeling others trying to make your point by putting questioning individuals into your little pidgeon holes shows your lack of logic. Strike 3!Now do you have anything reasonable to say? cyberbat (03/25/03; 18:11:45MT - usagold.com msg#: 100278) @Goldenbear Well Sir, You have now exposed yourself as a wild eyed liberal which I always believed you were, probably from California and no less believing that Hilary and Bill can save the world. Ask yourself a few of those questions about ole Billy Bob when he had the reins of power. mikal (03/25/03; 17:58:07MT - usagold.com msg#: 100277) @Cytek Re: msg# 100268. Thank you!! Extraordinary, Harry Mason's, 27 point "Undernews" comparative essay. A must read for all time.Do you have more information on this author? TIA! Golden Bear (03/25/03; 16:46:33MT - usagold.com msg#: 100276) Tacitus (msg#: 100243) That is the biggest load of rot I have ever read.If GWB is such a man of vision, then why is Wall Street allowed to fester with the corruption plainly evident for all to see, who want to see, at the expense of the American people?Why does this man of vision allow the death of an American citizen (who was a peace activist that got crushed by a bulldozer driven by an Israeli soldier, who then backed over her again), to go uninvestigated? An AMERICAN CITIZEN!The man of vision who fills his administration with pro Israeli warmongers who have the greatest conflict of interest regarding a War on Iraq...Please spare us the tripe of bought and paid for commentators... many of us here are much more aware than you seem to think... 21mabry (03/25/03; 16:15:09MT - usagold.com msg#: 100275) shock and awe When you talk something up bigtime before you do it, you really put yourself on the spot.It needs to be the greatest thing since sliced bread to live up to your hype. They should of said nothing or have been low keyed, because obviously the Iraqi regime was not overly shocked by the bombardment. Now the U.S. is forced to live up to this hype . Do your buisness then brag about it when your done, or better yet tell the world we did not even use our full power and look what we acomplished. Black Blade (3/25/03; 15:34:20MT - usagold.com msg#: 100274) Italy, France Show Signs of Stagnation http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_box.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&box=ad_box_all&tag=financial&middle=ad_frame2_topfin&s=APoA.nxULRXVyb3Bl Snippit:Rome, March 25 (Bloomberg) -- Italy and France, together accounting for almost 40 percent of the euro region's $7 trillion economy, showed signs of stagnation amid rising unemployment and war in Iraq. Europe's economy is faltering as mounting job losses and war in Iraq erodes demand among consumers, whose spending is more than half of gross domestic product. At the same time, the euro's 22 percent increase against the dollar in the past year is making exports less attractive. The region's economy may contract this quarter, the EU estimates. In other countries, confidence among Belgian executives tumbled to the lowest since the September 2000 terrorist attacks, the central bank said yesterday while a survey of Dutch households showed confidence at a two-decade low. A drop in consumer confidence stemming from the war in Iraq could push the U.S., European and Japanese economies into recession this year, said Stephen Roach, chief economist at Morgan Stanley in New York. ``The war occurs at a time when the industrial world was already weak,'' Roach told reporters in Beijing. ``Late last year growth slowed to a virtual standstill in the industrial world. That's true of Europe, true of the United States, and it's even true of Japan.'' Black Blade: Yeah, it doesn't look good. Operative (3/25/03; 15:01:57MT - usagold.com msg#: 100273) Believe It Or Not http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030315/ap_wo_en_bu/na_fin_us_counterfeiting_1 A US Treasury report shows that the newest printed dollars, the ones with the "big heads", has slowed down the printing of "fake" dollars. Seems they can only find 35 fake $100 bills in every MILLION that are circulated. So pray tell, what is the problem??? Why all the talk of yet more money to be spent on yet another, new & improved, colored bill???I think something is up, and once again, John Q Public is treated like a mushroom. On the other hand, in defense of the Treasury/Fed Reserve, since America has been dumbed down to the level of having "bat guano" for brains, perhaps this is a diet and treatment they are comfortable with. Perhaps Sadam is the lucky one, he at least had a clue what was coming around the bend. Clink! (3/25/03; 14:44:15MT - usagold.com msg#: 100272) @Cytek That would be funny if it wasn't so close to the truth, sad to say. Clink! (3/25/03; 14:42:54MT - usagold.com msg#: 100271) @ Silvercollector MK decided to let people vent (a little) concerning Iraq situation. People have been reasonably polite so far, probably realizing (in their wisdom) that an earnest discussion is better than alienation. Unlike some others I could mention.....uh oh, there I go again... Waverider (3/25/03; 14:39:30MT - usagold.com msg#: 100270) DAILY GOLD MARKET REPORT http://www.usagold.com/DailyQuotes.html Snip:"Gold traded higher overnight as the U.S. dollar plunged on disappointing news on the war front and a strong rebound for the Japanese yen as the central bank left rates unchanged. However, rumors of a "popular uprising" in Basra against Iraqi forces and Ba’ath party officials pushed the equities markets higher, oil lower and put pressure on gold as some speculators sold gold positions....." TownCrier (3/25/03; 14:37:27MT - usagold.com msg#: 100269) WGC's O'Connell reports sturdy physical side of market http://www.gold.org/ (excerpts)Once again it has been the Asian trading hours that have taken gold higher, with physical interest underpinning the market. [A counterpoint to NY's shabby contract-based market this afternoon. --Randy's note)]The very narrow range in London and New York yesterday, with prices more or less pinioned to the $330/ounce level, and following the bounce from $325/ounce on Friday in New York, helped to encourage already favourable sentiment in the physical market and prices edged higher through the course of the Asian day.It should perhaps be pointed out again that a boring price does not necessarily mean a boring market; volumes were good in London with a broad mix of participants.Indian dealers were already reporting a partial return of local buyers. Local premia are high, reflecting the strength of local physical demand (which is expected to continue both for seasonal and political reasons), but also a *******supply constraint stemming from higher insurance premia and the reported withdrawal of some Swiss supplies because of perceived risks in shipping the metal from Switzerland to India at present.******* The premia may also have been enhanced by the switch to 100g and 1kg bars from TT bars following the change in import duty earlier this month, as new supply patterns fall into place. Cytek (3/25/03; 14:35:20MT - usagold.com msg#: 100268) Vietnam II: Preflight Check Undernewsby Harry Mason1. Cabal of oldsters who won't listen to outside advice? -- Check 2. No understanding of ethnicities of the many locals? -- Check3. Imposing country boundaries drawn by Europeans, not by the locals? -- Check 4. Unshakeable faith in our superior technology? -- Check 5. France secretly hoping we fall ? -- Check 6. Russia secretly hoping we fall ? -- Check 7. China secretly hoping we fall ? -- Check 8. SecDef pushing a conflict the Joint Chiefs of Staff never wanted? -- Check 9. Fear we'll look bad if we back down now? -- Check10. Corrupt White House? -- Check11. Land war in Asia? -- Check12. Right-wing unhappy with outcome of previous war? -- Check13. Enemy easily moves in/out of neighboring countries? -- Check 14. Soldiers about to be dosed with "our own" chemicals? -- Check15. Friendly-fire problem ignored instead of solved? -- Check 16. Anti-Americanism up sharply in Europe? -- Check17. B-52 bombers? -- Check18. Helicopters that clog up on the local dust? -- Check19. In-fighting among the branches of the military? -- Check20. Locals who cheer us by day, hate us by night? -- Check 21. Local experts ignored? -- Check 22. Local politicians ignored? -- Check23. Locals accustomed to conflicts lasting longer than USA has been a country? -- Check 24. Against advice, Prez won't raise taxes to pay for war? -- Check25. Blue-water navy ships operating in brown water? -- Check 26. Use of nukes hinted at if things don't go our way? -- Check27. Unpopular war? -- CheckVIETNAM II: YOU ARE CLEARED FOR TAKEOFF Beowulf (3/25/03; 14:06:40MT - usagold.com msg#: 100266) And now the boycotts of American brand products begins http://story.news.yahoo.com/news?tmpl=story2&cid=564&e=7&u=/nm/20030325/ts_nm/iraq_usa_boycotts_dc_5 Boycott of American Goods Over Iraq War Gainssnip....By Erik Kirschbaum BERLIN (Reuters) - No more Coca-Cola or Budweiser, no Marlboro, no American whiskey or even American Express cards -- a growing number of restaurants in Germany are taking everything American off their menus to protest the war in Iraq (news - web sites). Although the protests are mainly symbolic, waiters in dozens of bars and restaurants in Hamburg, Berlin, Munich, Bonn and other German cities are telling patrons, "Sorry, Coca-Cola is not available any more due to the current political situation." The boycotts appear to be part of a nascent worldwide movement. One Web site, www.consumers-against-war.de, calls for boycotts of 27 top American firms from Microsoft to Kodak while another, www.adbusters.org, urges the "millions of people against the war" to "Boycott Brand America."... snip...It wont be long till the consumers in America retaliate on Europe. Since approximately 50% of European products are sold in the U.S. a backlash of their goods can really hurt the Euro economy. I don't think I'll be buying a VW anytime soon.-Beowulf silvercollector (3/25/03; 13:47:24MT - usagold.com msg#: 100265) Wednesday night? Someone mentioned the cut-off for Wednesday night. The cutting off of certain posts?What's happening? Buena Fe (3/25/03; 13:08:08MT - usagold.com msg#: 100264) knotakare (3/25/03; 12:05:40MT - usagold.com msg#: 100258) AMEN TownCrier (3/25/03; 12:55:57MT - usagold.com msg#: 100263) Smoothing the way for Chairman Greenspan's departure, transition http://biz.yahoo.com/rf/030325/economy_fed_bernanke_chairman_3.html HEADLINE: Fed's Bernanke says Fed is more than its chairmanWASHINGTON, March 25 (Reuters) - Federal Reserve Governor Ben Bernanke said on Tuesday a shift to inflation targeting at the U.S. central bank would provide a smoother transition to a new chairman by making policy goals and methods more explicit."I think that now that I've been inside for a while, I understand that the Fed is more than the chairman, that there is a lot of expertise, a lot of continuity within the Fed," Bernanke said during audience questioning at a conference of the National Association for Business Economics in Washington....While the 77-year-old Fed chairman is in good health and appears in full command of his job, his term expires in June next year and speculation about the potential for his departure has been swirling about recently....[Bernanke] said the statements issued after changes to the federal funds rate, which is used by the U.S. central bank to influence borrowing costs in the economy, are particularly problematic. "...it's partly related to the fact that it's very difficult to summarize the views of 19 people within half an hour. But we certainly are looking for a better solution.""I am not totally satisfied with the way that system is working," he added.--------(see url for full article)-------As mentioned in yesterday's post, ECB President Duisenberg on board for up to one more year, an interesting counterpoint with Chairman Greenspan's waning timeline. Significant changes in the international monetary arena have an open door with the impending dual changing of the guard.For wealth preservation adaptions in learned behavior can accommodate the status quo, but for periods of change you definitely need the timeless stability of gold.R. White Hills (3/25/03; 12:46:26MT - usagold.com msg#: 100262) sector, OOPS!! Reports coming in that the British are preparing to take Basra and that the local Shia are beginning to revolt and are being fired on by there own people. Interesting. White Rose (3/25/03; 12:39:18MT - usagold.com msg#: 100261) fiatless economy, take two Why don't we flip back to colonial times. There was very, very little money in circulation. What did people do?1) Used foreign money2) Used the business receipts of reputable merchants3) bartered4) used letters of credit and other instruments written by a bank.I assume if the "worst case scenerio" were to happen to the financial system, there would still be US paper money. There just may not be enough of it in cirulation. There would probably be a number of different financial instruments in ciculation to make up the gap. Some would rely more on risk than others.Gold and silver would represent the ultimate in trust. If you have a gold coin, you do not have to worry about the reputation or future plans of the person or company that issued it.If you wanted to buy a bic, you would have exchanged some silver for some of the more secure, low denomination financial instruments. If you wanted to buy a house, you might make a small down payment in gold (a few ounces) and work out a payment scheme that all parties agree to. If you are a purchaser with gold, you will have buyers fighting for you.Good luck Gonlyold (3/25/03; 12:15:18MT - usagold.com msg#: 100260) A Fiatless Economy: How Would It Work? With all this talk about having gold as a medium of exchange, I've often wondered how it would be to conduct business in a fiatless economy. Hopefully somebody is working on this.The first problem is the lack of minute denominations. Let's see, right now if I want to buy a Bic lighter for say $0.39, That's not a problem; I give the clerk 39 cents and walk out the store. Even with gold at its currect price, a 1/20th ounce coin is too much to pay for it. How do I buy this 39 cent lighter with gold? Will/can silver be denominated in pennys?On the other end of the scale, say I want to buy a $500,000 house. At current prices, that's just under 100 lbs. of metal. Conceivably I could phsyically carry and tranport that amount of weight, but wouldn't I have to take other precautions? Armed guards? Me armed?And people have got used to convenience. They like calling up a supplier and ordering their products and giving them their charge card number to complete the transaction. How are they going to be able to complete their business? Are we going to go back to, (uhm-m-m) gold certificates? Are we going to set this whole scenario up for a repeat round of unbridled bankers?I also wondered how the businesses of this country would have turned out if credit was banned from the onset: only cash/physical transactions allowed. I would imagine that the business community would have set in place the mechanizations of conducting business this way; with physical currancy. But can we go there now? Somebody's working on this, right? USAGOLD / Centennial Precious Metals, Inc. (3/25/03; 12:09:21MT - usagold.com msg#: 100259) Would you invest in a stock that graphed like this? Would you invest in a stock that graphed like this?Probably not. But that is precisely what you have done if you ownstocks, bonds, cds, money markets or anything denominated in U.S.dollars.Sooner or later gold is going to react strongly to this simple dynamic:The dollar has been continuously devalued without stop for the past 57 years. It hasnot appreciated against goods and services once -- not even once -- in that entire time period.There are periods when this policy has not been fully reflected in the price of gold.Is "Now" one of them? "Is Now the Right Time for Gold?"If you've received your initial information packet from us, you qualify toreceive this important report FREE OF CHARGE.Please call 800-869-5115 if you would like us to send it to you --Contact:George Cooper Ext 102Jonathan Kosares Ext 110Marie Ballard Ext 106We look forward to your inquiry! knotakare (3/25/03; 12:05:40MT - usagold.com msg#: 100258) @Quided "As for those who may be deaf, dumb or blind, turn to the Lord as I am so thankful President Bush does each morning. You too will see the scales peeled from your eyes and your confusion will be replaced with wisdom."*********************With a mighty voice he shouted: "Fallen!Fallen is Babylon the Great" Revelations 18:2Then I heard another voice from heaven say: "Come out of her my people, so that you will not share in her sins, so that you will not recieve any of her plauges" Rev. 18:4In her heart she Boasts, "I sit as a Queen; I am not a widow, and I shall never mourn" Rev. 18:7"Woe, Woe, O great City, O Babylon, city of power! In one hour your doom has come" Rev. 18:9**********************I may be deaf, dumb and blind, but I do not believe your lies. Greetings from Babylon! USAGOLD / Centennial Precious Metals, Inc. (3/25/03; 12:04:26MT - usagold.com msg#: 100257) Real gold, real easy. Delivered to your door. http://www.usagold.com/gold-coins.html
Would you invest in a stock that graphed like this?
Probably not. But that is precisely what you have done if you ownstocks, bonds, cds, money markets or anything denominated in U.S.dollars.
Sooner or later gold is going to react strongly to this simple dynamic:
The dollar has been continuously devalued without stop for the past 57 years. It hasnot appreciated against goods and services once -- not even once -- in that entire time period.There are periods when this policy has not been fully reflected in the price of gold.
Is "Now" one of them? "Is Now the Right Time for Gold?"
If you've received your initial information packet from us, you qualify toreceive this important report FREE OF CHARGE.
Please call 800-869-5115 if you would like us to send it to you --
Contact:
George Cooper Ext 102
Jonathan Kosares Ext 110
Marie Ballard Ext 106
We look forward to your inquiry!
In this global marketplace, a single event on the far side of the world can suddenly and adversely affect the performance and credibility value of the commercial positions within your investment 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 uniquely reliable form and function -- a steadfast financial asset which is immune to the contagious collapses to which all financial paper is prone.
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