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ARCHIVED DISCUSSION FROM 11/27/2002
All times are U.S. Mountain Time
(Yesterday's Discussion.)
DummyANI
(11/27/02; 23:56:40MT - usagold.com msg#: 90406)
Re:Gandalf the White (11/27/02; 21:18:12MT - usagold.com msg#: 90399
http://www.mof.go.jp/english/mf_review/352_04.htm
I'm soory. English-version web-site is updated.
DummyANI
(11/27/02; 23:34:01MT - usagold.com msg#: 90405)
Re:Gandalf the White (11/27/02; 21:18:12MT - usagold.com msg#: 90399)
http://www.mof.go.jp/1c006.htm
Yes, Sir. Gandalf the White !
I pasted Government official Page-Link.
Golden Bear
(11/27/02; 23:12:28MT - usagold.com msg#: 90404)
silvercollector (msg#: 90400)
Hi silvercollector,
I have read myself somewhere, that the Brits wanted Israel to be formed to keep the middle eastern countries off balance.
Divide and conquer as they say...
Cheers.
otish mountain
(11/27/02; 22:55:51MT - usagold.com msg#: 90403)
Do Gold producing nations need gold reserves?
In Canada apparrently not. Sir Belgian asks this question in his post #90325.
From the Ministry of Finance Canada web site these facts are there.
December 31st 1998 Bank of Canada Gold holdings Stood at 2.5 Million Ozs.
Gold Sales for 1999 total 601,000 ozs.
Gold Sales for 2000 total 622,000 ozs.
Gold Sales for 2001 total 77,000 ozs.
Gold Sales for 2002 total 369,000 ozs. (to Oct 31st 2002)
October 31st 2002 Bank of Canada Gold holdings stand at .7 million ozs. and are valued for balancing purposes at $216. Million dollars.
Currency reserves within the Bank of Canada holdings stood at 33 Billion dollars, comprised of 19.2 Billion USD, 12.9 Billion Euro. .930 Billion Yen.
Observations & Assumptions
Gold represents less than 1% of Canada's reserves.
Even though there are ample currency reserves, Gold is continuing to be sold with the latest settlement of 90,937 ozs sold in Oct/02.
My original intend was to find if there was a correlation between Gold Corp's 40,000oz purchase and Bank of Canada Gold sales. None exists.
At the rate of Gold selling, the Bank of Canada will be a supplier for another 12 to 18 months, then, Gold holdings will be exhausted.
otish
Chris Powell
(11/27/02; 22:39:40MT - usagold.com msg#: 90402)
Vindication for Reg Howe vs. BIS
http://groups.yahoo.com/group/gata/message/1314
Turns out that Reg Howe was right about the
Bank for International Settlements after all,
To subscribe to GATA's dispatches
by email and get them immediately so
you don't have to go look for them,
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mas
(11/27/02; 22:32:52MT - usagold.com msg#: 90401)
Mikal your point.
Have heard of large quantities staked away south of where you talk. Old WWII stuff being flown out, but unsuccesful... lot's of "tonnage" from what I hear...... in 6 kilo bars and lots of box's.... Still there? Maybe and then again maybe not. Nice story though.
Got treasure?
silvercollector
(11/27/02; 22:11:01MT - usagold.com msg#: 90400)
To all you folks sitting back wondering when my 4 day rant will end, try this one on for size...
"Roosevelt came away from the session deeply impressed by the profound hostility of the Arabs to Zionism and the certain belief that a Jewish state could not be founded without force."
What that means in English is that for some 60 years we have been stuffing the concept of Israel down the Arabs throat, knowing damn well it wouldn't work, and now the Arab countries ar striking back.
Well, what do you think would happen, morons?
Gandalf the White
(11/27/02; 21:18:12MT - usagold.com msg#: 90399)
WELCOME Sir DummyANI
DummyANI (11/27/02; 18:22:51MT - usagold.com msg#: 90394)
===
Is it really Sir or LADY ANI ?
<;-)
mikal
(11/27/02; 20:16:20MT - usagold.com msg#: 90398)
Re: Japan's gold "reserves"
According to noted researcher David Guyatt: "Black" gold was pillaged from Asian countries by the Imperial army in very large quantity. Countries like China, Burma, Korea and Phillipines before and during WWII saw cultural treasures, monetary gold and more, almost dissappear. Allegedly hidden in multiple underground sites in the Phillipines during occupation, some was recovered by joint CIA/Japan teams. Also rumored was hundreds of tons dug up by the gov't of Ferdinand Marcos. In my opinion, not all the treasure was exported to the Phillipines during the war, leaving significant unreported gold at Japan's disposal.
Black Blade
(11/27/02; 20:05:33MT - usagold.com msg#: 90397)
Personal Gold Investment in China Soon to Be Relaxed
http://english.peopledaily.com.cn/200211/28/eng20021128_107609.shtml
Snippit:
A gold market for personal investment will soon come to show up. At the "Beijing Gold and Jewelry Exhibition 2002" convened today (November 27), small gold bars, commonly known as "little yellow croakers" and suitable for personal investment, will make a debut after 50 years of disappearance from the market. With the opening of Shanghai Gold Exchange, a gold market for personal investment will soon come to show up. At the "Beijing Gold and Jewelry Exhibition 2002" convened today (November 27), small gold bars, commonly known as "little yellow croakers" and suitable for personal investment, will make a debut after 50 years of disappearance from the market. In the China Gold Mansion yesterday, the staff, wearing gloves, unwrapped cautiously the thick paper, revealing the gold bars inside. Ranging in weight from 500g to 10g, all bars are made of Au 99.99, the highest percentage of purity. A 10-gram bar is worth of over 800 yuan at the customary market price
Black Blade: (See the link for one happy camper holding a Gold bar). When Chinese gold investment takes off it should really get "interesting".
silvercollector
(11/27/02; 19:42:29MT - usagold.com msg#: 90396)
The Genesis of Israel
http://www.washingtonpost.com/wp-srv/style/longterm/books/chap1/fallenpillars.htm
"Roosevelt came away from the session deeply impressed by the profound hostility of the Arabs to Zionism and the certain belief that a Jewish state could not be founded without force."
(Chapter One: Zionism: Jewish Americans and the State Department, 1897-1945)
Mind boggling; 50, 80, 110 years ago we knew that a Jewish 'state' in Palestine would be trouble. It was 'forced' and we deal with the issue today, exactly was was warned generations ago.
Man O Man O Man, this is unbelievable. Hard headed, boneheaded politicans. Too bad we waited some 60 years to ask them what they thought of this ingenius idea.
Cavan Man
(11/27/02; 19:39:19MT - usagold.com msg#: 90395)
@ ge
Those ideas were brought forward here by "Aristotle". Much haas also been written aboyt the Turkish Lira by the webmaster. Coincidence abounds and 2 + 2 = ?
DummyANI
(11/27/02; 18:22:51MT - usagold.com msg#: 90394)
Belgian (11/26/02; 04:57:05MT - usagold.com msg#: 90325)
Hellow, everybody.
Fact is much more stranger than fiction.
Bank of Japan (BOJ) has a total of $460.975 Billion foreign reserve at 2002.11.08.
The valuation of Gold is only $7.796 Billion , its weight is 24.6 million ounce, and only 1.69% Gold reserves.
Nearly 80% of the reserve is allocated to the US T-bond or T-note. During recent fifteen years, BOJ has never participated in the gold market. I cannot understand why BOJ cannot buy or sell physical gold.
Black Blade
(11/27/02; 17:39:04MT - usagold.com msg#: 90393)
Debt + no job = bankruptcy
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2002/11/26/BU213429.DTL&type=printable
Snippit:
Stung by rising unemployment and mounting stock losses, U.S. bankruptcy filings skyrocketed 8 percent during the past year both nationwide and in Northern California, according to figures released Monday. The figures are one of the strongest indications of the human cost of the sputtering economy, as rising numbers of Americans fall hopelessly behind in their bills. Personal bankruptcies, accounting for most of the nationwide filings, also reached record highs. "A lot of people have been laid off in the past year, and the amount of debt people are carrying relative to their incomes is very high," said Jay Westbrook, a professor of law at the University of Texas at Austin told Bloomberg News. "That's a path that will too often lead to bankruptcies." But in recent months, the local and national figures have started to head in opposite directions.
Black Blade: The number of personal bankruptcies will soon skyrocket as the unemployed exhaust benefits and max out their credit cards. Others will refi their homes (if possible). This next year looks to get very ugly.
Black Blade
(11/27/02; 17:30:46MT - usagold.com msg#: 90392)
Demand for home loans sinks 5.8%
http://money.cnn.com/2002/11/27/pf/yourhome/mortgage_apps.reut/index.htm
Snippit:
NEW YORK (Reuters) - Applications for home loans in the United States fell 5.8 percent last week after borrowing rates edged higher and demand to refinance fell, a trade group said.
Black Blade: Looks like the real estate bubble is topping out.
Cytek
(11/27/02; 17:25:12MT - usagold.com msg#: 90391)
Old Yeller
Old Yeller, i looked at that chart. Looks like another 6 weeks of nonsence and then the breakout of the POG. There's a decending triangle on the chart looking very bullish. If this thing breaks out we could easily see POG at $340 and then $410 and then perhaps a slight correction. But then again the way the commericials are shorting the POG we could see a chart that doesn't look right. Simular to the chart of any index right now. Manipulation or should i say Inflate or Die as Mr. Russell is saying.
Cytek
Black Blade
(11/27/02; 17:23:22MT - usagold.com msg#: 90390)
Bureau hasn't declared end of U.S. recession
http://www.arizonarepublic.com/business/articles/1127recessionside27.html
Snippit:
The recession might be over, but the National Bureau of Economic Research hasn't declared it yet. The current recession began in March 2001, the bureau said. Conventional wisdom holds that a recession is two consecutive quarters of decline in real Gross Domestic Product. While that pattern generally holds, the bureau says, it bases its determination on four specific, often-revised monthly indicators. They are employment, personal income, industrial production and sales volume in the manufacturing and wholesale-retail sectors.
Black Blade: The recession continues.
Sierra Madre
(11/27/02; 16:41:43MT - usagold.com msg#: 90389)
Boilermaker: your post 90372..re M.E. countries
You wrote:
"The ME countries that depend on oil revenues need to diversify their economies or they will fall back to third world status when the oil runs out".
I very much doubt that the M.E. countries are capable of diversifying their economies. Remember what the inhabitants were just two or three generations ago: mostly shepherds and nomads, with some cities, but rudimentary economies. (This is not to say they were unhappy with their lot at the time.)
The M.E. has no tradition of development as we understand it. Their culture was static - and I might add that a static condition can be very pleasant, to those accustomed to it.
We think that constant change is the way to go - but, it has its price. Change and its twin, development, do not make for a happy society, though we are taught the opposite. "Development" is truly a mania - hard to admit, but think about it. This century will put an end to that mania, I believe, because - the oil will run out or become excessively expensive.
The M.E. is radically different from the West, not to mention the Chinese and Japanese and their centuries-old traditions of productivity and and intensive effort to keep their land fertile by plowing back all waste into it.
People do not and cannot change much from their established patterns of life. When the oil runs out in the M.E., it will be back to sheep grazing and camels. We know, for instance, that menial work in Saudi Arabia is performed by workers from Pakistan and other places, not by the locals, who consider such jobs as demeaning. Greasy hands mean nothing to an American, but are not acceptable to many on this earth, especially Arabs.
I don't know any other answer to "when the oil runs out". The M.E. will certainly not be converted to highly technical industry! The culture is the obstacle, and will not be removed - nor perhaps, should it be removed. Not all peoples are the same, nor should they follow foreign models.
Just my opinion. Perhaps some hyperbole in my statements, but you get the idea.
Sierra
USAGOLD / Centennial Precious Metals, Inc.
(11/27/02; 16:06:20MT - usagold.com msg#: 90388)
Make it an early Christmas gift to yourself. Something to read while relaxing by the fireplace.
http://www.usagold.com/cpm/abcs.html
The ABCs of Gold Investing
"Without waxing philosophical, a few words are helpful concerning the mind-set with which you pursue your interest in gold ownership. Some enter the gold market to make a profit, others to hedge disaster, some to accomplish both. No matter into which category you fit, make sure you understand why you are going into the gold market. Convey that understanding to the individual with whom you are structuring your gold portfolio. The whys have quite a bit to do with what you end up owning.
"Frequently investors will say that any kind of gold will do because after all gold is gold, isn't it? This type of attitude has helped a great many coin shop owners unload unwanted inventory they hadn't been able to get rid of for years. This is probably a good deal for the coin dealer, but it could spell disaster for you. In the same vein, I have talked to hundreds, probably thousands, of investors in nearly a quarter century in the business. Quite often, potential investors have no more reason for buying gold than 'everybody else is doing it.'
"In Chapter 16 on portfolio planning, you will find some details on this important subject. For now, consider the inscription over the entrance to the temple of the ancient Delphic Oracle: 'Know Thyself.' Study. Read. Learn what's going on around you. Call a few gold firms and ask questions. There's nothing like conversation to stimulate thinking. Take time to lay a little groundwork. Then make your move. The political and economic situation being what it is, there is no better time to start than now. Know thyself -- your goals and needs -- and you will be a more confident, happier gold investor." (more)
Please Remember: It is your purchase from USAGOLD - Centennial Precious Metals that nourishes these pages.
Chris Powell
(11/27/02; 14:10:46MT - usagold.com msg#: 90387)
Another look at Barrick's murky hedge book
http://groups.yahoo.com/group/gata/message/1312
GATA consultant Bob Landis re-examines the murky
hedge book of Barrick Gold in light of company
statements that seem to respond his original critique.
And he finds a huge short position not only in gold
but in silver too.
To subscribe to GATA's dispatches
by email and get them immediately so
you don't have to go look for them,
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Aristotle
(11/27/02; 13:31:24MT - usagold.com msg#: 90386)
Psychology
Hey there, Black Blade.
It's kinda funny how the caption is purely a sales pitch for mining shares, yet instead of showing a table littered with stock certificates, they hook us with a picture of appealing Gold instead -- sorta implying that what's being pitched is the same or as good as what's pictured.
I wonder how successful the *reverse* marketing strategy would be. How successful would, say, Pizza Hut be in selling its pizzas if, instead of running commercials with pictures of hot steaming pizzas they ran pictures of their stock certificates. Yum! .... sheeeeesh.
No, it would never fly. Quite clearly, then, the company product in both cases (Gold and pizza) has more personal appeal than the company itself.
Those marketing boys and girls sure know how to polish a turd, don't they? I guess the lesson here is we've just gotta keep our eyes open and be knowledgeable of what we're putting in our pockets.
Real Gold. Get you some. --- Aristotle
Belgian
(11/27/02; 13:18:54MT - usagold.com msg#: 90385)
@ Old Yeller
The POG-scenario, discribed in your link, is a very plausable one from a TA/TI and fundamental standpoint as well. The 310$-330$ very critical zone was already visible some time ago. But the bottoming POG pattern is the result of the €/$ exchange rate and therefore not so very relevant for Gold's *fundamental* future when its price shall break away from the technical dollar-schackles and go in free search for its real adjusted *value* of thousands of dollars/euro.(not 450$/ounce)
My main point is that *** AT PRESENT ***, absolutely "nothing" is happening with POG that is not strictly related to the US$.
Make a print out of 1/ 20 yrs chart of POG 2/ 20 yrs chart of dollar-index (UDX):
Come with me to the ATH of the dollar-index = 160 in 1985 with POG = 280$
Compare the UDX 1985 > 1995 (160 > 80) with POG 290$ > 410$.
Look at the two different patterns : a dramatic declining dollar and a relative flat-horizontal POG !
During this decade ('85-'95) there was NO significant liaison between POG and dollar. Gold was freezing whilst the dollar was desintegrating (halved).
This state of semi-hybernation changed abruptly from 1995 onwards where the dollar and the stock market received their bull-mixture, intraveniously ! POG crashed from 410$ when halted by the WA at 253$ !
Two complete different periods (10 yrs-5 yrs).
My interpretation of what happened and is evolving today, is the following : The dollar's death sentence was announced at its ATH (UDX=160) in 1985 and halfway (UDX=80) its way to the guillotine, the dollar received his last meal that caused the rise to UDX=120 (2001) from where the dollar is now on its way to the place of execution.
From 1995 onwards, there was a relative better compensatory-correlation between dollar and POG. This relationship will completely cease to exist if and when it is generally recognized that the dollar is really on its way to die.
Well Sir Yeller, we were pretty, pretty close to it recently !!! I mentionned the UDX zone of 105 - 100 before, as being extremely critical and culminating. It is here that we might have strong confirmation that the final WAVE- C-DOWN has started.
Wave A down = '85 > '95 (160 > 80)
Wave B up = '95 > '01 (80 > 120)
Wave C down = '01 > ? (120 > ?)
The UDX (dollar-index) decisively breaking the 105/100 zone is the same as catapulting POG through its very significant long term resistance (and 20 yrs median line) of 321$ - 334$ !
Once the UDX falls through its ATL of 80 > GOLD IS FREE !
For me personally Gold is FREE when 334$ has been *pierced*, because at this price, a 21 year tripple fan has been broken.
All the above is ONLY FOR AMUSEMENT with no intention of providing any form of investment advise or whatsoever.
The above view can be completely wrong !
Liberty Head
(11/27/02; 12:53:49MT - usagold.com msg#: 90384)
RE: Sierra Madre #90366
Wow! Thanks for posting the Rothbard vision. It puts a time perspective on our situation, doesn't it?
Black Blade
(11/27/02; 12:25:41MT - usagold.com msg#: 90383)
A Nice Picture
http://www.reuters.co.uk/newsPhotoPresentation.jhtml?type=searchNews&imageID=1000296779
See link for a nice picture.
- Black Blade
USAGOLD / Centennial Precious Metals, Inc.
(11/27/02; 11:51:45MT - usagold.com msg#: 90382)
As sure as the world casts a wary eye toward US-Iraq...
http://www.usagold.com/ProductsPage.html
 |
"For as long as cannons have thundered,
they have echoed
with the sound of men yearning for gold."-- R. Strauss
|
Nibelung
(11/27/02; 10:50:16MT - usagold.com msg#: 90381)
Implications for gold of free insurance
Insofar as free insurance results in poor investment decision making, the US economy, and by extension the dollar, will be weakened. Should the government be on the hook for a major payout, the printing presses will be cranked up an additional notch. Thus the probability of dollar debasement (risk in holding dollars) just increased a little bit yesterday. This is bullish for gold.
ge
(11/27/02; 10:44:16MT - usagold.com msg#: 90380)
Dollar Float, Oil Price and Turkey
Belgian (11/27/02; 03:10:15MT - usagold.com msg#: 90368)
Sierra Madre (11/27/02; 00:45:27MT - usagold.com msg#: 90366)
Very interesting comments on gold, EU and Turkey.
According to one peculiar interpretation of 1970's,
*USA had to tackle the externally floating dollar problem (eurodollars),
*USA ensured that oil was priced in dollars,
*USA intentionally increased the price of oil,
*excess dollars were converted to petro dollars and then used for buying arms from the USA or became deposits in US banks.
These ideas may be found in the following link in Turkish.
http://www.yenisafak.com/diziler/mkaynak/index.html
The author maintains that control of Turkey was a pre-requisite of 1973 Arab - Israel war, hence the coup of 1971 in Turkey.
Not mentioned in this article, it is now known that in 1971, there was coup and a counter-coup. The coup in 9 March 1971 was, allegedly leftist, intending a BAAS type regime in the country. The counter coup in 12 March 1971 was pro democracy!
The author who has origins in military has then worked for the intelligence. He also has a degree in economics. He was instrumental, in the overthrow of the 9 March BAAS type coup.
Since then, he has maintained that, during the 1970's Turkey was not under a communist attack, as assumed by everybody, but, there was a EU-US controversy in which EU faked itself as "left".
Nibelung
(11/27/02; 10:26:06MT - usagold.com msg#: 90379)
Free Insurance
http://www.berkshirehathaway.com/2001ar/2001letter.html
Capitalism is about risk and return in a world that has always been, and always will be, a dangerous place. Market discipline encourages wise and efficient investment. The new free insurance legislation passed yesterday privatizes profits while socializing risks/costs. Providing free insurance will encourage mis-allocation of scarce resources.
There is an excellent discussion of the current state of affairs in the insurance industry in the middle of Warren Buffett's 2001 shareholder letter (dated 2/28/02). He said he was raising prices on mega-policies. When you can go to Washington and get it for free, why would you want to pay??? See above link.
Mountain Top
(11/27/02; 09:56:44MT - usagold.com msg#: 90378)
Vision
I keep having this vision of "Bad Allan" Greenspan dressed in black, all steely eyed and in a half-crouch saying in a gravely voice, "Y'all better commence borrowin', mortgagin', spendin' and investin' 'cause ah got this hyeer printin' press an' ah ain't afeerd to use it."
Maybe I need more gold.
Hipplebeck
(11/27/02; 09:19:34MT - usagold.com msg#: 90377)
Desire for power
gives people control-itis. It makes them want to control and manage everybody and everything.
Old Yeller
(11/27/02; 08:35:09MT - usagold.com msg#: 90376)
Everybody seen this?
http://www.polarpacific.com/Articles/Posts/gold.htm
Compelling stuff,complete with pretty chart covering
the tumultous(for gold investors)days of Greenspan
and Rubin.
SALMON
(11/27/02; 08:25:35MT - usagold.com msg#: 90375)
PDG & NEM
So are Placer and Newmont.
To me that stink bear.
SALMON
(11/27/02; 08:16:09MT - usagold.com msg#: 90374)
ABX
Barrick is trading at nine years old low!
Hipplebeck
(11/27/02; 08:07:17MT - usagold.com msg#: 90373)
What tha???
What is with that commercial on the 1933 gold eagle?
I saw it on Cnbc, and I don't believe that some gold plated scam can show such a fine looking coin and the gold industry can't. Can a company that makes a gold plated counterfeit coin make money on a commercial but a gold miner can't?
I didn't even know that you could make a counterfeit coin and sell it.
Boilermaker
(11/27/02; 08:00:38MT - usagold.com msg#: 90372)
Oil funded Terror
GADZOOKS!! I seem to have stirred up some folks with my oil funded terror post. Please note that this strategy was suggested as being likely to occur based on past programs. Do I agree with it? No. Do I think something like it will happen despite my disagreement? Yes. I like to deal with reality and take appropriate action. I have gold and oil.
I happen to be an oil producer and I generally root for OPEC and higher oil prices, not only for my own benefit but ultimately for the benefit of countries like the US where cheap oil has totally distorted our morals and value system. I would like to see $50 oil tomorrow, bite the bullet now and get on with the energy alternatives that are just waiting for an economic opportunity.
The ME countries that depend on oil revenues need to diversify their economies or they will fall back to third world status when the oil runs out. Unfortunately they seem to believe hostility is the preferred path to their future. They should see the example of China where a focus on production has brought wealth and power to a once impovershed nation. I just don't think that the militant Islamists are on the right track. Their hatred will only result in greater problems for them even though they have some grounds for retribution.
Cheers
Boilermaker
Belgian
(11/27/02; 07:49:49MT - usagold.com msg#: 90371)
@ Knallgold
Have you noticed the cat and mouse game of last, played by those gathering at the Euromoney Gold seminar and the press releases on CB's goldreserves ?
Barrick (P.Munck) wants all miners to sell forward ! India's yearly Gold uptake will decline with 200/300 tonnes per year ! And the WA is to expire in 2004 with renewed gold-sales/buys candidates.
This looks very strongly like an excercise in balancing, future offer and demand as to keep POG as stable as possible !? This goldprice-stability is desired by some very specific CBs (and ECB) as to not disturb their policies on goldreserve-valuations in function of the euro.
I would be very surpriced to see Italy, buy more Gold to add to its reserves, whilst having a national debt of 110% to GDP and a very shaky economy (Fiat strikes again)?
France having difficulties to balance its budged deficit without risking more paralysing strikes (truckers), seems not in a position to add more Gold to its substantial reserves ?
Oh and BTW, the UK firefighters, wage-demands of + 40%, could result in an alarming rise in...inflalala...very de-stabilizing and not so euro-like.
Or...IS THE GOOD NEWS...that silently and cautiously, excess, obsolete dollar-reserves (eurodollars) are transformed in 0,999 refined ? Relative, temporary, strong dollars for, temporary, very cheap Gold, scarcely available on the market but not so for barrickunderground reserves...to be sold for future delivery to all those who wish to get rid of "THE" green paper ??? Tempting, isn't it ? BTW, aren't we doing this ourselves ?
Do you really think that we are allowed to have a peep behind those CB-curtains where the action might be in full progress ? I don't think so fellow Goldmeister.
Read the Bloomberg article again and ask yourself why France or Italy should let us know they are adding *Gold* to their reserves ? These Bloomy boys are part of...
The "cultivation" of the Gold-Enigma must go on up until the codes are broken and the Gold-war is lost.
During the time left up to the expiry date of the WA (2004), political Euroland will see how flexible it has to become to help the laggerds (budget deficits-debts-growth)out of their misery. This might include some more goldreserve reshufflements (national CB to ECB)? But who knows where we all will stand around 2004 ? Maybe the whole world might be burning in oily ME flames?
Most important conclusion is that all this talk gives evidence of the importance of the Euroland's part of the 1 BILLION ounces of total official Goldreserves. About the 8.125 tonnes of US Gold, there is much more,deafening, silence.
Rock
(11/27/02; 07:44:07MT - usagold.com msg#: 90370)
Real estate still booms as records set in state
Hi all, in case I don't see you at the mighty oaken table of ore for the next few days I want to wish you all a Happy Thanksgiving. We are a blessed people, a blessed generation. It's easy to take the everyday luxuries for granted for even a simple glass of water can be a luxury when you are thirsty.
With that perpective in mind. I really feel like Royal Knighthood thus enjoying each gift and blessing that passes and review. I don't need to be in a life and death situation to live each day as if it could be my last. I read enough history and witnessed enough current events to know the very breath of air in my lungs is a precious gift.
Cheers...........Rock
Now for the article:
Tuesday, November 26, 2002 - 3:44:19 AM MST
Demand, tight supply buoyed October prices
By ROB VARNON rvarnon@ctpost.com
The real estate boom continued at a vigorous pace in October as prices climbed and available stocks dropped, and prices in Connecticut continued to outstrip national and Northeast averages.Existing single-family home sales for the nation in October increased by 6.1 percent over September and dropped inventories by 2.6 percentleaving approximately 2.23 million existing homes available for saleaccording to a report issued Monday by the Washington, D.C.-based National Association of Realtors.
This number represents a 4.6-month supply at the current sales pace.In a news release, NAR said that the national median existing home price of $159,600 represented a 7.9 percent increase from October 2001.According to the Connecticut Association of Realtors, the lack of new housing starts and increased sales are contributing to a short supply of housing in the state.In a Nov. 19 report, the Connecticut association estimated the current housing supply will last two to three months.NAR found that 680,000 existing homes were sold in the Northeast in October, compared to 650,000 in October 2001.According to NAR, the median price for a home in the Northeast was $165,000 up 14.1 percent from a year ago.
However, the median price is down when compared to prices in June, July and August. The median sale price in August was $169,000 in the Northeast, the highest it's been all year.Home sales remained relatively brisk in the state, according to real estate professionals, with homes priced much higher than in the Northeast in general and varying dramatically within Connecticut.In Milford, the median price for existing home sales was $260,750 in October, according to the New Haven Association of Realtors.The New Haven association said there were 58 existing home sales in Milford with an average sale price of $291,099.
Homes averaged 50 days on the market in Milford.The remaining available homes on the market totaled 40, with an average listing price of $338,329.Nan Feldman, a real estate broker and appraiser with Stamford-based Country Living Associates, said her office estimates the median price for a Stamford home is more than $600,000."$600,000 doesn't get you much in Stamford at this time," Feldman said.Only four houses in the Milford area sold for more than $500,000 in October and three of those had four bedrooms or more, according to the New Haven association.Feldman said the Stamford market is stable, which she doesn't expect to change over the next few months. She does expect slower sales in November, but not a drop in prices, Feldman said.
On a national level, the West had the highest median price for housing at $214,000 and the Midwest had the lowest median price at $138,500. All geographic regions saw a jump in prices by more than 5 percent compared to a year ago, according to NAR.In the news release, David Lereah, NAR's chief economist, attributed the rising prices and climb in sales to record low mortgage interest rates.Freddie Mac, which has been tracking mortgage rates since 1971, found that the 30-year, conventional, fixed-rate mortgage was 6.11 percent in October, up from 6.09 percent in September. In October 2001, the rate was 6.62 percent.Rob Varnon, who covers business, can be reached at 330-6216.
KEN: Eventually all bubbles must pop just like the dot.com bubble, the tech bubble the bond bubble and soon to be at a theater near you will be the housing bubble and the dollar bubble Look for a hungry gold bull. A few experts have reported (mainly here at the castle) gold to hit near or around $1,500 within the next few years and should a terrorist attack hit in the meantime and the economy should take another blow like it did on 911 gold could spike much higher.
Knallgold
(11/27/02; 04:19:49MT - usagold.com msg#: 90369)
France and Italy bought Gold
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Emu%20Top%20Stories&tag=emu&s1=blk&tp=ad_topright_all&T=markets_bfgcgi_content99.ht&s2=ad_right1_all&bt=ad_bottom2_all&s=APeO40BQBQ2VudHJh
"..To be sure, not all central banks have been sellers. France and Italy have added to their reserves. China and other Asian nations have also been buying. .."
Can anyone confirm? It seems to have gone unnoticed publicly/pricewise...
Belgian
(11/27/02; 03:10:15MT - usagold.com msg#: 90368)
@ Sierra Madre
Sir, I'm slightly surprised with your question where the obvious answer is a clear : YES !
Yes, this *war-hysteria*, reaches much further than what is presently percepted. Worse...I even do suspect (very strongly), that the rival parties on this globe, do wish this war to happen, as to lure the dollar into a selfmade trap (gigantic embroglio). Watch very carefully how everybody is taking a classical "dualistic" attitude, purely opportunistic, versus the US+UK-conglomerate !
Everyone has already made its "specific" bets on the outcome of the ME-occupation by the dollar-block !
As a significant side-note : Euroland has soon to decide on Turkey !!! In or out EMU ? That's gone be a very hard nut to crack with far-reaching consequences, later on !
Geopolitical powerstruggles, spiralling around the remaining cheap oil-reserves in function of two rivalling currencies.
High noon for your personal Free-Gold-standard. There is nothing else we can do to avoid more suffering for all those innocent bystanders. Amen.
LeSin
(11/27/02; 03:06:10MT - usagold.com msg#: 90367)
Apology - To USA Gold Forum - LeSin - Sins
Sir Randy,
Sorry, it was reckless of me to have missed the copyright tag at the bottom of the article. I certainly did not intend to place this fine forum of excellence in any breach of copyright.
Thank you for your suggestions and re-write.
Cheers
"S"
Sierra Madre
(11/27/02; 00:45:27MT - usagold.com msg#: 90366)
Murray Rothbard's vision of the future....
I quote the last paragraph of Rothbard's excellent work, "A History of Money and Banking in the United States" published by the Ludwig Von Mises Institute in Auburn, Alabama. These words were written back in 1976:
"The other logical alternative is the Rueff Plan, of returning to the classical gold standard after a massive increase in the world price of gold. But this too is unlikely, especially over powerful Americn opposition. Barring acceptance of a new world currency, the Americans would be content to keep inflating and simply force the hard-money countries to keep appreciating their exchange rates, but again it is doubtful that the German, French, Swiss and other exporters will be content to keep crippling themselves in order to subsidize dollar inflation. Perhaps the most likely prognosis is the formation of a new hard-money European currency bloc, which might eventually be strong enough to challenge the dollar, politically as well as economically. In that case, the dollar standard will probably fall apart, and we may see a return to the currency blocs of the 1930s, with the European bloc this time on a harder and quasi-gold basis. It is at least possible that the future will see gold and the hard European currencies at last dethrone the triumphant but increasingly uneasy dollar."
Rothbard's vision was prophetic. I think that we are at, or close to, the point at which "the dollar standard will fall apart". A M.E. currency bloc is planned, and S.E. Asia is working on the gold dinar as a form of international settlement. Argentina is out of IMF control (?) and if I am not mistaken, Nigeria is also in default. Brazil is another candidate for thumbing its nose at the IMF?
Could it be that the war on Iraq has as its objective, not only the oil, but the undermining of the European bloc and its currency, by controlling Europe's oil - and China's access to it, as well? A lunatic war as a symptom of the "dollar standard falling apart" and consequent loss of world empire - "gold and the hard European currencies (now the ECB Ecu) at last dethrone the triumphant but increasingly uneasy dollar"?
The War Against Terror as a subterfuge for a currency war on the Ecu? A last desperate resort to retain world power?
GratefulForGold
(11/27/02; 00:01:57MT - usagold.com msg#: 90365)
silvercollector, Boilermaker, CoBra(too) & DOWNUNDER – US's "rights" to ME oil
Your posts all touched on an apparent attitude of the US administration that the US is "entitled to cheap oil." Many (US citizens included) find that appalling and wonder why the US can't, or isn't willing to, simply pay a fair price for the commodity. Yes, it would cost us. But we could deal with that and adapt, especially with the possible alternatives of death and destruction!
To me, it seems less of a matter of wanting cheaper oil for the US citizens and more a matter of wanting obscene profits (and global control) for the oil and energy companies that have bought and paid for more than one (understatement!) administration.
I know this situation is only one segment of grand, global machinations and most of it is beyond intervention. It just hurts to see it happening and be powerless. Our government is forging ahead with its political agenda, with the weak excuse of "getting Sadam," and is apparently callous and chillingly hardened to the probable ramifications that will befall not only US citizens but the world's peoples.
I have never expected my government to be my "father" but neither have I wanted it to be my "executioner."
I guess in a historical (hysterical?) perspective, it's "conquest as usual" and it's basically irrelevant...we live, we eat, we breed, we die. Life has endured so far. God is hedging his/her/its bets.
And I'm hedging with some good ole' gold (and silver, and food, and medicine, and weapons of protection, and, and, and...most importantly, trusted friends!)
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