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Welcome to the USAGOLD Gold Discussion Archives. The archives of this gold discussion forum are a treasure trove of information to educate investors about protecting their wealth through portfolio diversification with private gold ownership. The discussion forum also covers the wider issues of the past, present, and future role of gold in international monetary policy and the dynamics of the modern gold markets...   (Discussion Forum Hall of Fame) (The Gold Trail) ("Thoughts!" by ANOTHER)   The opinions posted by all guests are expressly their own and do not necessarily represent the views of the management or staff of USAGOLD - Centennial Precious Metals. The hosting of the public discussion shall therefore not be construed as an endorsement by USAGOLD - Centennial Precious Metals of any of the opinions posted here.

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ARCHIVED DISCUSSION FROM 5/26/1999
All times are U.S. Mountain Time

View Yesterday's Discussion.

Golden Truth (5/26/99; 23:21:01MDT - Msg ID:6775)
Electronic Currency
If the whole World does go to a electronic currency as mentioned by Mr.Armstrong @P.E.I. Would that not make Gold worthless and make it just "another" commodity, thats one way to get out of being short "metal" drive its price so low that even if you can't cover your shortage who cares the price,will be so cheap it won't matter if you have to cough up the cash. Also who cares if the mines go broke and close down,just another reason why the metal can't be replaced or be used in an exchange for OIL?? Remember its now just a commodity, and if you want to do business? Can we see your plastic cash card? Remember who your dealing with its the "BEASTS WAY" Not GODS WAY a cashless was predicted long ago if Gold drops to $240.00 i,am selling half my stash it should be VERY evident, by then this is whats coming!!!!!!

Golden Truth (5/26/99; 22:48:40MDT - Msg ID:6774)
Demonetization of Gold?
Check out Horia May26,23:29 at the other site. (not the canadian one)

beesting (5/26/99; 22:23:18MDT - Msg ID:6773)
SteveH msg#6768 Electronic currency in New Zealand.
Steve,I don't know where Mr. Martin Armstrong got his information, but I currently have a house guest here from New Zealand.She's only been here(in the U.S.)a week'she said the week before she left New Zealand brand new smaller 20 dollar paper notes were issued,and a new 1 dollar coin was put into circulation.Now if a society was totally going to an all electronic system why would they right now issue new spending money?
By the way,the Maori, the indigenous people of New Zealand,have almost equal members of the N. Z.Parliment and seem to be slowly reacquire-ing lands previously lost, according to my house guest..........beesting

Golden Truth (5/26/99; 21:53:12MDT - Msg ID:6772)
Steve H
Hello Steve, Since F.O.A has,nt answered your question yet. I started thinking that maybe there is no physical shortage b ecause the whole World is moving to a electronic currency. F.O.A there seems to be some inconstancy in your last post?

Cavan Man (5/26/99; 21:22:29MDT - Msg ID:6771)
On ideation and the efficacy of this forum....
Had to share this:

When men have realized that time has upset many fighting faiths, they may come to believe even more than they believe the very foundation of their own conduct that the ultimate good desired is better reached by free trade in ideas-that the best test of truth is in the power of the thought to get itself accepted in the competition of the market, and that truth is the only ground upon which their wishes can be safely carried out. That, at any rate, is the theory of our Constitution. It is an experiment, as all life is an experiment.

Oliver Wendell Holmes (1919;dissent in Abrams v. United States)

Keep testing the truth and keep the faith!

Cavan Man (5/26/99; 21:21:21MDT - Msg ID:6770)
On ideation and the efficacy of this forum....
Had to share this:

When men have realized that time has upset many fighting faiths, they may come to believe even more than they believe the very foundation of their own conduct that the ultimate good desired is better reached by free trade in ideas-that the best test of truth is in the power of the thought to get itself accepted in the competition of the market, and that truth is the only ground upon which their wishes can be safely carried out. That, at any rate, is the theory of our Constitution. It is an experiment, as all life is an experiment.

Oliver Wendell Holmes (1919;dissent in Abrams v. United States)

Keep testing the truth and keep the faith!

Cavan Man (5/26/99; 21:13:35MDT - Msg ID:6769)
USAGOLD #6735
MK-What a profound thought regarding the creation of dollars while having the corresponding inflation absorbed by oil! That's teriffic! True investments are long term although perhaps not by definition. Day trading is not unlike visiting the casino. In fact, what once was an excellent vehicle for the creation of capital has now become another form of legalized gambling. If you liked it at $350 you'll love it at $270 right? Easy for me to say at this juncture becasue I have not taken my lumps (yet). However, if the price continues to erode I will begin to dollar cost average in small increments. There must be true VALUE in physical ownership otherwise, why all the effort to restrain the price movement by big government and big money? Common sense, n'est pas?

Sophia

SteveH (5/26/99; 21:11:33MDT - Msg ID:6768)
Ouch!






Date: Wed May 26 1999 22:43
snowbird (Only electronic currency for New Zealand) ID#285392:
Copyright © 1999 snowbird/Kitco Inc. All rights reserved
Article from PEI ( Martin Armstrong ) WOW!

http://www.TheEuroBank.Com

The following comments by Martin Armstrong,
chairman of the Princeton Economic Institute:

TheEuroBank.Com is a new site provided by PEI as a public service free
of charge and dedicated to following this trend of moving toward a pure
electronic currency. New Zealand has already announced publicly that it
will elimnate all currency replacing the NZ dollar with a electronic
form that may be used through a debtitcard or credit card system. This
is the most important development in the history of money and it
threatens the future of everyone's ulltimate financial freedom.

The process of demonetization of gold and the liquidation of gold
reserves is a first step toward creating a new monetary system for the
world. The purpose of this trend is to eliminate the underground economy
and hence enhance the collection of all taxes. Some are also arguing
that this will eliminate the drug traffic at the same time not to
mention illegal arms sales etc. While this is debatable, the trend is
clearly a decisive one than cannot be denied.


SteveH (5/26/99; 20:15:31MDT - Msg ID:6767)
FOA
Interesting post, but it doesn't answer my unanswered non-rhetorical question: where is the physical gold coming from that sits at my local coin shop and why is it by waiting a few weeks he seems to get delivery of whatever he orders AND at close to spot price as determined by the paper market of which you speak???

It is unfathomable that a paper market can create a price structure underwhich a physical shortage appears to not be a physical shortage (yet anyway). Perhaps my previous comments as to the supply or logistic channel bears more a resemblance to truth than I thought. The retail gold market is essentially being fed with the last remnants of available gold in the form of coins taken from the strategic reserves of the countries of origins and when that stockpile is gone so is the coin supply only leaving the larger gold bars of the paper market and when those are delivered OR NOT delivered then the game is up, eh?



FOA (5/26/99; 20:00:20MDT - Msg ID:6766)
Gold
USAGOLD, and all,
Now it should be easy for everyone to see that the gold market has become two separate operations. One is the physical and the other as a paper market. This new paper market was created and encouraged so as to increase the base of gold owners world wide. This increase could not have been accomplished prior to the 1990s because, basically only physical gold was traded in size, worldwide (comex futures were much too small then) and the dollar price of gold
would have exploded, thereby shutting down any expansion of ownership. As gold was the only competition for the dollar at that time, the BIS embarked upon this "encouraged" expansion as a means of offloading dollar reserves into gold at a decreasing price. It was known then and now that much in the same way the US / IMF controls the dollar market, the BIS manages the gold market. In this light, one can understand why certain entities would willingly buy gold , at a decreasing price, as a means of adjunction the settlement of trade in dollars. With the confident
knowledge that each dollar of paper gold purchased, during an extended time would eventually represent ten, twenty, or thirty times the present reserves.

At some point in time, the BIS would help deploy a new reserve currency that could be used to "settle" all paper gold trades that could not be closed, to the benefit of the paper gold holders. To further encourage / guarantee this "new market" the BIS would not allow gold to fall under
$280. With the successful launch of the Euro, the BIS / ECB will now allow the paper gold market to "implode" from it's own weight! As such, we arrive at today's point with gold
ownership, some ten times what it was during the 1980s. Most of this "dollar contract" gold cannot and will not be delivered, because "there was never enough gold to satisfy these contracts at present dollar prices"!

My friends, the choice is now "clean" and "clear"! The writers of paper gold "outside" the Euro realm are cornered with the lack of available gold! Completely! Presently, from inertia, they still control the "paper price" in the dollar / IMF arena, but they can never convert. They must do what
any cornered being will, continue to create (short) contracts of worthless nature. At some point, their market will suffer a total collapse and cease to function. It will happen no other way. Now we understand why England must enter the Euro world, if they are to have any hope of saving
some part of LBMA. One can also see why the US will encourage a higher "world" price for gold, even as it's native market is destroyed! Politics will always make good use of a unretractable situation. That being, the US has a gold reserve it can "talk about" but can do nothing with, on a large scale. Perhaps, a western reason to buy gold for cash "now", as it's local market may soon end?

Perhaps, this is why Another (long ago, in the $350 range) pointed only to the physical gold, for ownership. Much of what was said, makes sense now. The call for $280 gold was made some time before the Euro was born, and no one even knew if it would happen (BIS either???). The point that this was a "New Gold Market", "unlike none before", in that the dollar market of gold would totally disappear in a blaze of paper fire! Not to mention that the entire world gold industry is on a "dollar gold contract" standard. Is it no wonder that no analysts of the gold industry can afford to see the outcome of Another! Conversely, every free citizen, worldwide, that holds and continues to buy physical gold will welcome this change. Dynamic times, indeed! We speed
quickly to the conclusion of one of the greatest changes in currency values ever seen. thank you FOA




SteveH (5/26/99; 19:51:57MDT - Msg ID:6765)
August gold (june put to bed...don't like it anymore)...
now...$271.00 (that is better).

Julia:

http://www.quote.com/livechartscom/livechart

Then put in gc9q.

http://www.quoteline.com/irtmecoe.asp

No action required.

Farfel (5/26/99; 19:41:11MDT - Msg ID:6764)
PETER MUNK...LIES and DECEIT in the GOLD Market.
This man is a piece of human crap! Screw him and all his BS!

NOW read the real story.....
---------------------------------------------------

Barrick's Munk says resource sector will rebound...
and the Sun will set in the East someday too!

TORONTO, May 26 ( Reuters ) - Barrick Gold Corp. ( ABX-T ) Chairman Peter Munk predicted on
Wednesday that the depressed resource sector would rebound when investors realized the tremendous value of
owning blue-chip mining stocks.

"No doubt the mining stocks are good for a one day pop at most," Munk smirked, "At which time, Barrick will
sell forward as much gold @270 as we can. After all, we screwed gold shareholders before, so why not do it
again! I could care less about the goldbug idiots because I've already made by stash. I'm putting all my money
in the real estate market and leaving gold to all the f_ing retards out there. Heee, heee, hee."

Mining stocks were hard hit last year by financial crises in Asian and other emerging markets, oversupply of
key base metals and the subsequent collapse of nickel, copper, zinc and gold prices to multi-year lows.   
While base metal producers have seen a slight improvement in the first half of 1999, gold miners have
continued to suffer in a steadily weakening price environment.    Gold fell to $268.80 an ounce on
Wednesday, a level not seen since 1979, as market sentiment worsened and bullion dealers predicted further
lows for the precious metal.    Munk admitted that "these are not the glory days for our sector," but said that
the shares of large Canadian mining companies provided a rare buying opportunity if you are a complete idiot.

"We are pretty much bottom of the pile. But if I had my choice to keep my money in the very exciting Internet
sector or the resource sector, I'd leave it where it is....sitting pretty in Trizec Hahn! Hee, hee, hee... Real
Estate, baby! I am awfully comfortable where I am," Munk said after receiving the Toronto Stock Exchange's
lifetime Scamster Award.    Munk received the award for his role in taking Toronto-based Barrick from a tiny
mining company in 1983 to one of the largest and most successful gold companies in the world. Given that
most of the gold companies in the world today are failing rapidly, one might say that Munk's achievement
"ain't much."  

An active gold scamster who has the ear of central bankers and world leaders, the Hungarian-born Munk has
won the approval of thousands of bonds investors for consistently screwing the the entire gold industry,
thereby destroying gold as a flight to safety during economic turmoil.   Barrick, North America's
second-largest gold producer ( most of the others are bankrupt ) , posted last month the best quarterly results in
its history, due in part to the company's innovative hedging program.    Hedging allowed the company to sell
its gold in the first quarter at an average price of $385 an ounce during a period when bullion traded at an
average spot price of $287 an ounce.

Of course, if Munk and Barrick had not sold forward 80% of their gold production at 400 back in early '96,
there are many gold analysts that feel gold might now be trading at well over $600 an ounce, instead of its
current dismal sub-300 price. Barrick's aggressive hedge scared the hell out of the gold market back in '96 and
led to a wave of gold selling by both gold producers and central banks.

The Canadian company's entire production is sold forward through 2001 at an average minimum price of $385
an ounce.    Munk said screwing Barrick investors through hedging had been one of his major contributions
as a miner. The stock price has languished along with all other gold producers since Barrick's ill-considered
massive hedge program in '96.  Most investors would NOT touch gold today with a 1000 foot pole!

"Yeah, no doubt the Barrick shareholders would have been much better off today if I had not scared the crap
out of the gold market back in '96 through my aggressive hedging...but hell, what do you expect? I don't give
a f__k about gold or goldbugs...I'm a real estate man now and gold can go to hell as far as I'm concerned.
Anybody stupid enough to buy shares in my company deserves a spike up their ass. Hee, hee, hee."

Barrick fell 5 Canadian cents to C$24.60 a share on Wednesday in moderately active trading on the
TSE. ( $1=$1.47 Canadian ) http://www.canoe.ca/MoneyNews/may26_barrickmunk.html

Peter Asher (5/26/99; 18:51:08MDT - Msg ID:6763)
Should be read today
http://www.stocksite.com/features/contrarian/rap/
Realy

TownCrier (5/26/99; 17:12:26MDT - Msg ID:6762)
U.S. 30-year bond falls more than a full point
http://biz.yahoo.com/rf/990526/4z.html
Lack of interest in today's bond auction forces retreat.

TownCrier (5/26/99; 17:09:37MDT - Msg ID:6761)
URL for Italy Story
http://biz.yahoo.com/rf/990526/bel.html
Back-peddaling in Europe?

TownCrier (5/26/99; 17:07:47MDT - Msg ID:6760)
Euro Trigger: Finance Ministers Allow Italy to Overshoot Budget Deficit Target
"European Central Bank Governor Wim Duisenberg said on Wednesday that it would not do the euro any good if the
finance ministers' concessions on tolerating Italy's budget deficit overshoot became a precedent."

TownCrier (5/26/99; 17:03:26MDT - Msg ID:6759)
FWN/Bridge At the close....
[B] NY Precious Metals Review: Jun gold hit 20-yr low on dlr jump

By Melanie Lovatt, Bridge News
New York--May 26--COMEX Jun gold futures settled down $1.30 at $269.50
per ounce, after dropping to $269.20, which is another contract low and
yet another fresh 20-year low on continuation charts. Amid the continued
shabby market outlook triggered by the UK Treasury's May 7 announcement
that it will sell over half of its gold reserves, gold was also battered
today as the dollar climbed to 21-month highs against the euro. Jly silver
settled down 0.50c at $5.055 per ounce after being pulled down to a 6-week
low of $5.04 by gold.
* * *
Gold had started the day off on a negative tone when it fell below
$270 per ounce area on the London fixes and was fixed at $269.50 both AM
and PM.
"It looks like the US dollar rally kept gold on the defensive," said
James Steel, analyst at Refco. The dollar made strong gains against both
the euro and Deutsche mark, although it fell back against the yen. It
reached a 21-month high against the dollar and a 21-month synthetic high
against the euro, which was launched Jan this year.
Steel noted that the firm dollar and recently strong stock market
continue to hurt gold. "There is no reason to reverse the trend, even if
you subscribe to the idea the market is oversold," said Steel, noting that
in general, paper markets remain stronger than physical assets like
precious metals.
Tony Caen, senior precious metals dealer at Credit Lyonnais Rouse, said
that there had been some producer selling under the $270 level. However,
there has also been producer-oriented buying coming in at these levels, he
pointed out.
He also noted that funds were rolling out of the Jun contract into the
Aug contract ahead of first notice day Friday. "There's a lot of switch
activity and people seem to be rolling rather than covering shorts," he
said.
While some players seem to be of the opinion that gold's 20-year low,
in real terms, is in uncharted territory, Caen suggests that some support
is seen at the $265 area. Large puts "are in play at this level and will
be protected," he said. Players say that the put options were placed ahead
of the UK Treasury's first gold auction set for Jly 6.
Meanwhile, today's 0930 ET over-the-counter option expiry passed
without much influence on spot prices as front month interest at
at-the-money or close-to-the-money open interest remained light (Story
.15169). However, there are large option short positions in Jun and Jly,
held by one market participant built up ahead of the Bank of England's
gold reserve auction.

(c) Copyright 1999 FWN Reprinted at USAGOLD with permission. For details please go to:
http://www.futuresource.com/internet.shtml
No further reproduction without written permission from FWN

Peter Asher (5/26/99; 15:18:51MDT - Msg ID:6758)
$ - Euro
You don't suppose that when they hit parity that there will be a big 'surprise' decision to throw the whole western hemisphere into a single currency? It sounds unreal but there is alot of unreality of late.

ET (5/26/99; 11:51:05MDT - Msg ID:6757)
Mr. Yen again

Another great quote from the soon to depart Mr. Yen regarding the US;

"Their savings rate is negative, and their net indebtedness
has increased dramatically it has doubled in recent years.
It has to stop somewhere."

Why isn't CNBC telling me what Mr. Yen had to say? You would suspect this would be news. Maybe I missed it when I was out trimming the yard.

Yes, it looks like the party is over. We've seen bonds approach 6% and then back off and oil approach $20 and then back off. These charts look bad for the US situation if their former trends resume. I wouldn't think there is much time left to purchase gold at these once-in-a-lifetime prices. I'm with Mike and others on this one; forget the leverage, buy the real stuff. I think your chances of actually getting paid on leveraged bets will be nil if Mr. Yen is correct in his assessment. Nasdaq volume today is already over 750 million shares. Something is happening that CNBC hasn't informed me of yet.

ET


ET (5/26/99; 11:29:45MDT - Msg ID:6756)
Mr. Yen

Hey TC - thanks for the link.

Great quote from Mr. Yen;

"I remember Larry Summers saying to me, `The world is
collapsing'.

Well, you would suppose he would know. Maybe this gold manipulation thing should come as no surprise given the fact the future Treasury Secretary believes the world's financial system is collapsing. I guess this is Mr. Yen's way of welcoming Larry to his new job. 'Good luck Larry, I'm outta here.' <g>

ET


Peter Asher (5/26/99; 9:22:25MDT - Msg ID:6755)
Silver Tongue
Thank you for a pleasing and entertaining morning message. Nice to start the day with a sigh of pleasure and a chuckle.

TownCrier (5/26/99; 8:54:48MDT - Msg ID:6754)
Mr. Yen Warns of Deep Flaws in Global Capitalism Mr Yen warns of deep flaws in global capitalism Mr Yen warns of deep flaws in global capitalism
http://www.afr.com.au/content/990524/world/world1.html
"One of the world's top finance officials has declared that the system of global capitalism could collapse if the US economy slumps."

TownCrier (5/26/99; 8:50:12MDT - Msg ID:6753)
OTC Option Expiry in London Today/ One Major Market Participant Holds Most of Short Position!!
London--May 26--Gold's over-the-counter option expiry at 0930 ET today is
unlikely to spark the kind of fireworks some might expect after spot metal's
drop to fresh 20-year lows this morning, sources here said, explaining that
nearby open interest levels were low at in-, at- or close-to-the-money May
strikes. However, they cited large short positions in June and July, held
predominantly by one market participant and built up after the recent revelation
the Bank of England is to auction part of its official gold reserve. By Miranda
Maxwell, Bridge News

TownCrier (5/26/99; 8:46:12MDT - Msg ID:6752)
Euro News
http://biz.yahoo.com/rf/990526/r6.html

"Bundesbank President Hans Tietmeyer said on Tuesday the recent weakening of the euro was not caused by the European Central Bank's monetary policy but was more due to structural weaknesses in the euro zone economies."

USAGOLD (5/26/99; 8:33:20MDT - Msg ID:6751)
Today's Gold Market Report: Good Analysis from Standard Charter London and Steve Kaplan
MARKET REPORT(5/26/99): Gold broke the $270 barrier in early trading on continued
short selling by Wall Street and London firms and further deterioration in the euro.
Standard Bank London offers this candid explanation for gold's weakness:

"The market was steady in Europe with the Governor of the Bank of
England, Eddy George, attempting to explain the UK's decision to sell
more than half of its gold reserves. Rather than reassure the market,
George's comments only served to egg on the bears and the $270 level
was breached for the first time since June 1979. A bout of short covering
near the close took the price back above the key $270 level. Although
physical demand is very strong, the prevailing mood in the market is
negative with dealers focusing on the large purchase (2 Mio oz.) two
weeks ago of $265 puts. This price will be a target for the bears."

The Wall Street firm, JAron is rumored to have been the purchaser of those $265 puts.

While the options and commodities players have sold on paper, the physical market has
enjoyed strong buying particularly in the Middle East and Asia where investors tend to buy
the dips. Long term holders of the physical metal continue buying as it drops knowing that
every tick down brings us that much closer to the actual cash cost of mining the metal at a
large percentage of the world's largest gold mining companies. As it is, mining companies
across the boards are threatened with project delays and actual mine closure. It won't be
long until the very carry trade from which the Wall Street and London bullion banks have
prospered, will be threatened due to mine company inability to make good on their loan
contracts -- a situation akin to the market running the bullion banks into the goalpost. As
reported at Steve Kaplan 's Gold Mining Outlook, one of the better sites for gold market
analysis, gold production fell 7% in the first quarter of 1999 and that was before Britain's
ill advised foray into the bullion market. If the price remains mired here, expect much
worse.

But there is light at the end of this dark tunnel. We tend to go along with Steve Kaplan who
says:

"The nearly unanimous consensus for gold is that it will first go down
sharply and then rebound due to anticipated strong physical buying. Those
who expect the price to drop have already sold and are net short, while
those who expect the price to rise later are waiting for the "certain" decline
before they make their purchases. A few buyers, therefore, will push the
price up into a vacuum. The inevitable short covering will sustain the
ensuing rally."

In fact the short position -- some 8 million ounces -- is so far outside the norm we would
not be surprised if the tension were not building, as early as today, among traders who
don't want to be the last to cover. We might see some front-running among the bears who
fear getting beat to the punch. I would not be surprised to discover that the metal Bank of
England proposes to sell is already earmarked to satisfy the needs of a British bullion bank
in trouble gauranteeing the gold loans. In lieu of that, if the metal actually reaches market, I
would not be surprised if the first sales by BOE had buyers standing in line -- particularly
central banks. Rumors persist that China and Japan are buyers of physical yellow metal.
Kaplan points out that Russia's central bank purchased 85 tons of gold recently. Britain
proposes to sell 125 in the first auction in July. The daily discussion of strong physical
buying are not a fantasy even though the paper traders tend to ignore it.

Kaplan also offers this optimistic analysis of the current price trend:

"Question: How would you interpret the trading activity in gold on
Tuesday? Answer: Locals on the COMEX waited until the European
markets had closed so that a small amount of money was sufficient to
probe the area just below $270, looking for sell stops. When few were
found (hardly any speculators are long gold), the market partially
rebounded. With virtually no remaining sell stops and few technical targets
on the downside, the rebound is likely to be swift and decisive, with
powerful physical buying continuing to provide strong worldwide support
for the yellow metal. Just as importantly, the recent weakness in the U.S.
stock market is almost certain to lead to a sharp drop in the dollar, which
will also push gold higher. There is a classic delay pattern at work: first
bonds fall, then the stock market drops, then the dollar plunges, then gold
soars, then commodities surge. We are in the early stages of the second
phase of this pattern."

That's it for today. Have a good day, fellow goldmeisters.

The featured article in this month's News & Views centers on government finance in an
article entitled "The Financial State of the Union." I'm sure it contains many
surprises for our readers. There is a great deal of difference between what our government
leaders are telling us and the reality with respect to the government's books. This issue is
one or our best and most informative. Please go to our ORDER FORM or call Marie at
1-800-869-5115 for a Free Copy of News & Views -- our widely read monthly newsletter
-- and introductory packet on gold ownership.

Ray Patten (5/26/99; 7:23:40MDT - Msg ID:6750)
OTC Gold option expiration?
Can anyone tell me if today is the expiration of the over-the-counter Gold options. It it is, that could be a good reason for the grumpy Gold bears to stop selling.

ET (5/26/99; 7:17:34MDT - Msg ID:6749)
USAGOLD

Hey Mike and cronies at CPM - congratulations on your 500,000th visitor! I remember when it was around 35,000. Amazing how fast this has taken off. You'll soon be challenging World Net Daily for that coveted #1 spot. Keep up the great work, it is appreciated.

ET


Julia (5/26/99; 5:24:50MDT - Msg ID:6748)
SteveH
Good Morning Steve. Would you tell me how I might find a good internet source for 24-hour, world-wide gold and silver prices? Thanks, Julia

Silver Tongue (5/26/99; 5:16:48MDT - Msg ID:6747)
Peter
Peter, a much needed refrain to sooth the frayed nerves of us goldbugs. I've watched it go down, not buying but not selling either. These are the times that try men's sphincster muscles. Brings the primal scream from deep within. I can't help but believe though that what has been true since Adam departed the Garden of Eden that gold and silver will remain the treasure of this earth, even though they are subject to tarnish. How does this upstart US dollar come off thinking it can prevail over gold in the long run? Nevertheless these are strange times indeed. Gold at a 20 year low. Where is my Pepo Bismo?

SteveH (05/26/99; 02:42:31MDT - Msg ID:6746)
June gold now..
a whopping $269.20. The determined assault continues.



Peter Asher (05/26/99; 00:09:16MDT - Msg ID:6745)
This year it is not just flowers, young girls'soldiers and graveyards
I hope even the younger folks know this Kingston Trio Classic well enough to sing along in their head.

Where have all the dipsters gone?
Long time passing..
Where have all the dipsters gone?
Long time ago.
Where have all the dipsters gone?
Lost their margin every one.
When will they ever learn?
When will they, ever learn?

Where have all the bonds- men gone?
Long time passing.
Where have all the bonds-men gone?
Though yields have grown.
Where have all the bonds-men gone?
Locked in holding, every one.
When will they ever learn?
When will they, ever learn?

Where have all the CDs gone?
Long time passing.
Where have all the CDs gone?
Now the Banks are closed.
Where have all the CDs gone?
Gone to default, every one.
When will they ever learn?
When will they, ever learn?
-----------------
Where have all the Gold-bugs gone?
Long time passing.
Where have all the Gold-bugs gone?
Long time ago.
Where have all the Gold-bugs gone?
Gone to riches, every one.
For they have long ago learned.
For they have long, ago learned.



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Thursday February 9
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