(View Today's Discussion)
(View Previous Day's Discussion)
(View Next Day's Discussion)
ARCHIVED DISCUSSION FROM 5/28/2002
All times are U.S. Mountain Time
(Yesterday's Discussion.)
Gandalf the White
(5/28/02; 23:12:32MT - usagold.com msg#: 76826)
Countess Graefin -- per your request
http://www.gandolf.com/keys/index.shtml
This Tom Kirk painting of me at "Bilbo's Door" is a very good likeness. This may be viewed at the Hamburg Tolkien Archive, which is a lot closer to you than me.
Ps: Ich nehme nur Zahlung der Löhne an, die in den Goldmünzen gebildet werden!
<;-)
YGM
(5/28/02; 23:07:32MT - usagold.com msg#: 76825)
Mr "G"....
My screen froze up 6 times before I got thru the whole pdf file..Very annoying.....I almost think it's time to stop reading all the Bankster/NWO Crap and withdraw from all discussions and concentrate on a fun summer fishing w/ my
last at home kid...Nothing much more to be gained outside of talking at walls and much repitition plus getting mad or depressed...IMHO..YGM
Gold and the World will go wherever w/o my 2 bits..G'nite
Mr Gresham
(5/28/02; 22:41:36MT - usagold.com msg#: 76824)
YGM
I'm just finishing up that link -- saw it last year and it was time for a refresher. Yes it's just so far out there as a possible "total rip" for stock and bond owners, it's really hard to believe. But then, we're the people who've been parsing the differences between in-hand physical and abstract paper for years now. Others don't even think the first thought about it. I imagine there's just no way to get any perspective or critique on what I've just read, so I just have to file it away and be glad I don't have anything that it pertains to, to worry about losing.
It's a .pdf that has my browser windows all lagging and unfinished "downloading images" in all windows, so I have to shut down and re-boot I think.
Waverider
(5/28/02; 22:33:52MT - usagold.com msg#: 76823)
Gandalf
Thanks for keeping us "posted" as it were - you make these contests a blast!!!
Gandalf the White
(5/28/02; 22:25:53MT - usagold.com msg#: 76822)
The COMEX GOLD JUNE '02 Settlement Price GUESSING CONTEST
http://www.usagold.com/cpmforum/tools/guideandsignup.html
THINGS are warming up now with the top of the list seeing some action !!! <;-) A total of 70 !! YES, SEVENTY, Valid ENTRIES to date. The procrastinators are waiting to see what happens on Wednesday and maybe even Thursday, BUT the list is filling in the open entries RAPIDLY and one must not wait toooo long!!! ESPECIALLY you lurkers. GET SIGNED UP TO POST TODAY !!! You will wish you had when the winning numbers are determined on Friday afternoon.
GOOD LUCK
----
TA, TA, TA, TAAA, TAAA, TAAAAAAAA, TAAA, TAAA, TAAAAAAAAAAAAAAAAA!!!!!!
Hear Ye. . . .Hear Ye. . . . A Call to Contest. . .
Under the auspices of Sir MK, our USAGOLD Forum host, Centennial Precious Metals, Inc., is requesting a test of your thinking, predicting and posting skills to occur until midnight (MDT Denver, CO time) on Thursday, May 30th to Guess the SETTLEMENT Price of the June COMEX GOLD Contract on Friday, May 31, 2002. Prizes are one Swiss 20 Franc Helvetia (0.1867 ounces of GOLD) to the WINNER, and a one ounce Silver Maple Leaf to EACH of the Runners-up.
This is also an "Invitation" to all UNREGISTERED LURKERS to submit your request to be able to "POST" by following the instructions at the ABOVE LINK, and THEN be able to enter the CONTEST!!!
---
THE RULES
1) The winner is the closest to the Settlement price of the most active
JUNE GOLD Contract (GC2M) on the date of Friday the 31st of May, 2002.
2) Price "Guesses" shall be stated in Dollars and tenths ! (Such as 543.2)
3) "Guesses" shall be enclosed in markers of "Dollar Signs"
so as to be OFFICIAL ! Such as $$$$ 543.2 $$$$
4) ONLY one "Guess" per Knight or Lady and once that "Guess"
has been "taken" -- no one can duplicate it !!
FIRST COME has rights to that "Guess".
5) HOWEVER, All "Guesses" MUST be posted before the clock
in Denver strikes 12 Midnight on Thursday, MAY 30th.
6) AND MOST IMPORTANTLY -- A short "WHY" discussion
paragraph MUST accompany each "Guess".
===
14 th UPDATE on POG Guessing Contest ! <;-)
ENTRIES in Contest (sorted by Price) !!
====
$$$$ 8,752.0 $$$$ The Invisible Hand (05/24/02; 05:39:59MT msg#: 76471
$$$$ 440.2 $$$$ goldquest (05/22/02; 14:17:02MT msg#: 76261
$$$$ 360.0 $$$$ GoldnSilver2002 (05/24/02; 12:29:56MT msg#: 76497
$$$$ 355.9 $$$$ darkhorse (05/22/02; 21:25:11MT msg#: 76317
$$$$ 354.0 $$$$ Henri (05/24/02; 09:18:51MT msg#: 76490
$$$$ 352.5 $$$$ White Hills (05/22/02; 19:23:20MT msg#: 76300
$$$$ 350.0 $$$$ ROSEBUD99 (5/28/02; 10:32:46MT msg#: 76775
$$$$ 349.2 $$$$ Pizz (5/28/02; 10:07:10MT msg#: 76771
$$$$ 348.0 $$$$ White Rose (05/25/02; 22:03:47MT msg#: 76569
$$$$ 343.0 $$$$ ji (5/25/02; 06:23:45MT msg#: 76533
$$$$ 342.0 $$$$ neer-do-well (05/24/02; 08:20:19MT msg#: 76484
$$$$ 339.0 $$$$ rsjacksr (05/22/02; 16:32:28MT msg#: 76278
$$$$ 338.9 $$$$ Siochain (5/28/02; 09:41:22MT msg#: 76766
$$$$ 337.5 $$$$ wiley (05/23/02; 10:49:37MT msg#: 76386
$$$$ 336.6 $$$$ zorro (5/23/02; 16:42:43MT msg#: 76420
$$$$ 336.0 $$$$ Creosote (05/22/02; 19:38:52MT msg#: 76303
$$$$ 335.6 $$$$ Kodie (05/26/02; 09:59:13MT - usagold.com msg#: 76588
$$$$ 335.1 $$$$ Gold Standard (5/27/02; 05:32:52MT msg#: 76663
$$$$ 334.7 $$$$ RobotGuy (5/28/02; 10:38:00MT msg#: 76777
$$$$ 334.3 $$$$ Believer (05/22/02; 16:19:37MT msg#: 76277
$$$$ 333.3 $$$$ Tevye (05/22/02; 13:58:29MT msg#: 76258
$$$$ 332.2 $$$$ Goldfinger 2 (5/28/02; 11:20:26MT msg#: 76779
$$$$ 331.0 $$$$ DOWNUNDER (05/24/02; 22:40:53MT msg#: 76522
$$$$ 330.3 $$$$ Brahms (5/28/02; 00:16:44MT msg#: 76734
$$$$ 330.2 $$$$ Christian (5/27/02; 07:40:31MT msg#: 76666
$$$$ 329.8 $$$$ Tate (5/28/02; 13:15:44MT msg#: 76790
$$$$ 329.7 $$$$ goldroadlx7 (5/28/02; 15:57:31MT msg#: 76802
$$$$ 329.4 $$$$ Clint H (5/23/02; 19:18:44MT msg#: 76436
$$$$ 328.4 $$$$ Slowman (05/24/02; 07:37:27MT msg#: 76479
$$$$ 327.7 $$$$ goldenpeace (5/28/02; 03:52:15MT msg#: 76749
$$$$ 327.6 $$$$ timbervision (05/23/02; 09:17:25MT msg#: 76369
$$$$ 327.2 $$$$ vermillion (5/23/02; 19:19:38MT msg#: 76437
$$$$ 327.0 $$$$ Solomon Weaver (05/25/02; 21:59:46MT msg#: 76568
$$$$ 326.9 $$$$ Achilles (05/24/02; 04:29:15MT msg#: 76466
$$$$ 326.8 $$$$ Hipplebeck (05/23/02; 06:07:51MT msg#: 76357
$$$$ 326.6 $$$$ slingshot (05/24/02; 19:24:09MT msg#: 76519
$$$$ 326.0 $$$$ Broken Tee (5/23/02; 15:38:46MT msg#: 76416
$$$$ 325.7 $$$$ OZ (05/26/02; 23:20:25MT msg#: 76635
$$$$ 325.5 $$$$ steady (05/24/02; 15:26:22MT msg#: 76503
$$$$ 325.4 $$$$ Renny (5/28/02; 18:39:54MT msg#: 76809
$$$$ 325.3 $$$$ Frosty (5/28/02; 17:48:48MT msg#: 76806
$$$$ 325.0 $$$$ Around The Corner (5/23/02; 02:17:38MT msg#: 76350
$$$$ 324.9 $$$$ THX-1138 (05/22/02; 16:45:28MT msg#: 76279
$$$$ 324.8 $$$$ Yellow Metal (05/22/02; 16:51:55MT msg#: 76280
$$$$ 324.6 $$$$ Graefin (05/22/02; 13:33:35MT msg#: 76257
$$$$ 324.2 $$$$ Rock (05/22/02; 13:06:37MT msg#: 76254
$$$$ 323.6 $$$$ VanRip (05/22/02; 21:58:11MT msg#: 76323
$$$$ 322.6 $$$$ misetich (5/23/02; 03:05:56MT msg#: 76351
$$$$ 321.5 $$$$ RobertG (5/23/02; 19:23:59MT msg#: 76438
$$$$ 320.4 $$$$ Jimbo (05/22/02; 14:31:21MT msg#: 76264
$$$$ 320.2 $$$$ 18K (5/23/02; 03:47:11MT msg#: 76353
$$$$ 319.9 $$$$ Trapper (05/22/02; 17:52:38MT msg#: 76284
$$$$ 319.5 $$$$ YGM (05/22/02; 13:29:47MT msg#: 76256
$$$$ 319.0 $$$$ Houston (5/25/02; 12:57:47MT msg#: 76551
$$$$ 318.5 $$$$ EagleOne (05/22/02; 21:26:49MT msg#: 76318
$$$$ 318.2 $$$$ onlychild (05/22/02; 15:10:37MT msg#: 76269
$$$$ 317.5 $$$$ balzac (05/23/02; 07:33:25MT msg#: 76363
$$$$ 317.2 $$$$ Tommy P (05/23/02; 07:00:52MT msg#: 76361
$$$$ 317.0 $$$$ nickel62 (05/26/02; 09:20:46MT msg#: 76585
$$$$ 316.5 $$$$ cwa (05/24/02; 08:04:10MT msg#: 76481
$$$$ 316.0 $$$$ luckypierre (05/25/02; 15:52:53MT msg#: 76555
$$$$ 315.8 $$$$ Brett Woods (05/27/02; 21:19:19MT msg#: 76720
$$$$ 315.7 $$$$ law (05/27/02; 23:56:54MT msg#: 76732
$$$$ 315.4 $$$$ ausome (05/22/02; 18:51:28MT msg#: 76296
$$$$ 314.9 $$$$ HOOSIER GOLDBUG (05/22/02; 17:51:17MT msg#: 76283
$$$$ 314.5 $$$$ Pippin (05/23/02; 07:14:36MT msg#: 76362
$$$$ 313.5 $$$$ Topaz (5/25/02; 08:44:39MT - usagold.com msg#: 76541
$$$$ 312.5 $$$$ AUtistic (05/22/02; 17:50:02MT msg#: 76282
$$$$ 308.6 $$$$ kludge (05/23/02; 08:11:29MT msg#: 76365
$$$$ 298.5 $$$$ Mexican (05/27/02; 15:33:32MT msg#: 76690
===
YGM
(5/28/02; 21:18:45MT - usagold.com msg#: 76821)
Aristotle.......Are you about?...or 'anyone' interested!
http://ecclesia.org/forum/uploaded/admin/Banking%20Scam.pdf
I'd like to get your take on this item I posted earlier today.....Or anyone else's for that matter.....On a superficial read it appears very credible information and with dire ramifications should certain events unfold...
Unless this has been posted and discussed at a prior time I find it hard to imagine no comments after anyone read it, if anyone did?...It was to my thinking VERY disturbing as it lends support for previous understanding and takes us deeper into the Bankster world of deceit and skullduggery!
The Depository Trust Company (DTC)
Part II:
You don't own your Stocks or Bonds (CEDE & CO.)
Part III:
Financial Fraud & Money Laundering on Wall Street
Part IV:
Banking Corruption In Government
Part V:
Wall Street thievery
YGM
(5/28/02; 21:01:18MT - usagold.com msg#: 76820)
goldquest....
Richard Maybury....
Thanks for that ...I think!...Maybury definately calls it the way he sees it...Scary part is he may be none too far off the mark...Quite pragmatic about his view of gloom and doom scenario tho...Hard to lend a positive side to a POOF of the Capital, yet he does...and he does so with a sound of faith in the American way...There again I feel he may be right also!.............YGM.
darkhorse
(5/28/02; 20:53:09MT - usagold.com msg#: 76819)
Pherengi would make lousy CNBC commentators
BB, if a Pherengi (sp?) ever got on CNBC, they wouldn't be invited back. They'd laugh at the regulars commentary, then launch into an Econ 101 lesson (throwing in several of their 218 laws of profit). Ya might end up with phasers taking out the cameras after a spirited discussion of the pros and cons of gold.
Black Blade
(5/28/02; 20:48:07MT - usagold.com msg#: 76818)
War, and Rumors of War
http://www.foxnews.com/story/0,2933,53791,00.html
Three Israeli High School Students Killed in West Bank
Snippit:
JERUSALEM — A gunman sneaked onto the grounds of an Orthodox Jewish high school in the West Bank late Tuesday and killed three teenagers, even as Israeli troops continued their daily raids into Palestinian towns. The man shot and killed three Israeli students outside a high school in the settlement of Itamar, near the Palestinian city of Nablus, settlers and rescue service officials said. The attacker was shot and killed by the settlement's security chief.
Black Blade: Israeli troops and tanks have reentered Bethlehem and Jenin tonight. Yesterday a suicide bomber killed himself along with an Israeli woman and her grand daughter. A gunman killed an Israeli motorist. Also, a Palestinian ambulance was detained by Israeli troops and the patient eventually died. It appears that we are back to square one.
Also, India has flatly rejected proposals for talks from Musharraf. Meanwhile, Pakistan tests another missile today. The rhetoric is getting worse between these two nations and it appears that they are inching closer to the abyss.
In Colombia, president elect Uribe is calling on the US for support to take on the Armed Revolutionary Front (FARC) guerillas for a decisive outcome. The US has already agreed to train and support Colombian troops for defense of the Limon Cano oil pipeline.
There are more warnings from the US state department and the FBI that Americans and American interests are at risk from additional terrorist attacks. On possible target that was publicly identified today was the electrical grid in NY. It is well know that if only one transformer station in New York were to be destroyed that electricity supply in NY would be out for up to 6 months.
Mexican
(5/28/02; 20:44:50MT - usagold.com msg#: 76817)
The NEW American way of life?
http://biz.yahoo.com/djus/020528/200205282034000869_1.html
Snippit:
Ford is "looking at all kinds of diesel engine sizes for North America," said Dave Szczupak, Ford's vice president in charge of its powertrain operations. "We see diesel engines' growing popularity coming down from heavy duty to light-duty pickup trucks and then into the SUV's."
MX: Damn...May I see an energy spoiled Nation driving around in DIESEL SUV's??? The ever clever American??? People who would of course rather prefer sending a whole bunch of Marines to Russia to protect drilling operations than driving around in DIESEL SUV's??? IS THIS REAL??? Oh my!
But seriously...it's the first step in the right direction.
Black Blade
(5/28/02; 20:28:00MT - usagold.com msg#: 76816)
Dow's dubious milestone
http://money.cnn.com/2002/05/28/markets/markets_newyork/index.htm
Blue chips join Nasdaq, S&P in 2002's minus column as economic data disappoint.
Snippit:
NEW YORK (CNN/Money) - U.S. stocks fell Tuesday, with the Dow Jones industrials average erasing the last of its gain for the year, after weaker-than-expected consumer confidence and spending figures dealt the fragile economic recovery an apparent setback. A report showing that Americans' expectations about business conditions dimmed this month jolted investors already jittery with terrorism fears. Separate figures showing that consumer spending rose a weaker-than-expected 0.5 percent in April didn't help.
Black Blade: Trading volume today was recorded at second lowest level of the year.This week will be a bit light on economic news, so this begs the question: who will buy stocks to prop up the markets?. It is likely that consumers are tapped out and are more likely to use available income to pay off debt, make home improvements, to invest in alternatives, or simply just "sit this one out".
goldquest
(5/28/02; 20:27:04MT - usagold.com msg#: 76815)
More reasons to buy gold
http://home.flash.net/~rhmjr/index.html
Doom and Gloom!
Black Blade
(5/28/02; 20:07:06MT - usagold.com msg#: 76814)
Puplava Market Wrap Up
http://www.financialsense.com/Market/wrapup.htm
Gold Still on the Rise
Snippit:
If there was a bright spot in today's market, it was once again found in the gold and silver sector. Wall Street and the media have done a wonderful job suppressing this story. Each week Barron's reports a list of the week's top ten performing mutual funds. They have all been precious metals funds. Other than reporting on them, nothing else is mentioned. Gold's rise last week got only one paragraph. However, that hasn't stopped gold's relentless juggernaut. Today, futures traders bid the price of the yellow metal above $325 before it settled back at another high for the year at $324.10. Gold prices rose against the background of increasing tensions between India and Pakistan. This weekend Pakistan conducted missile tests and Pakistan's President Pervez Musharraf vowed vigilance against India. Gold prices have reached another key resistance level at $325. At this level a lot of bullion banks and gold mining hedge books start to go negative. This will force short covering, which is further driving up the price. I suspect central banks and their counterparts the bullion banks are going to want to drive the price down. If gold continues to rise, it may catch the eventual attention of John Q. Investor and John Q. Public, and that would not be good news for the markets or for confidence in government.
Black Blade: Puplava makes a good point. I had no sooner walked in from the gym, turned on the television (CNBC), grabbed a beer and then I see the scary face of one James Cramer. I swear, if any of you have ever watched the new Star Trek, then you may have seen a peculiar alien species called a "Pherengi". Well, need I say more. At this point he was giving his commentary and of course he implied that we should sell Gold into the rally. He further implied that it is somehow "unpatriotic" to buy Gold when the stock markets "need" our money. Unlike a Star Trek Pherengi, this little troll does not extol the virtues of holding "Gold Pressed Latinum" (or Gold for that matter) as a means of preserving wealth. It was actually almost comical as he visibly spat saliva as he foamed at the mouth. Shortly after he finished his tirade (which included putting down Dick Cheney for his stating obvious facts that he and Dubya did not know about the 9-11 terrorist acts before hand during a recent interview), his partner Larry Kudlow chimed in that people should sell Gold into this rally. I somehow sense that these guys are upset at missing out on the Gold rally – sour grapes? Now I know that Cramer is selling his "book" (both his investment book and probably his "literary work"). It is strange that CNBC has picked up other networks "castoffs". There is James Cramer, Geraldo Rivera, and now Louis Rukeyser. Now I am waiting for "Deep Space Nines" Pherengi – Quark - to show up as a CNBC commentator. Hmmm…
BTW, check out the USD index-Gold Index chart at the link (top of page). The USD must fall further, however, the Japanese are doing what they can to fall further. So far, the USD index continues to weaken. The POG rises in response. With such a positive outlook, it is curious that Cramer-Kudlow and others press on with such a ridiculous position.
The Victorian
(5/28/02; 20:06:07MT - usagold.com msg#: 76813)
R Powell
My in-law's stock broker did seem to understand the true concept of hedging, but I believe he viewed hedging/forward sales as a good thing, in that it assured the company of profits in a down market. I, like you, made the point that if POG went down and stayed down, my in-laws would bail out of gold stocks, anyway, so they didn't need this supposed risk mitigation. I believe brokers are so accustomed to the former economic climate in which producers barely scraped out a meager profit, that they can't quite conceive of the idea that the outlook for gold may have changed. My in-laws said they wanted to keep us both happy - ie. the broker and my husband and I - so that's why they agreed to keep one hedged miner along with the unhedged company. I guess it's hard for them to grasp that the supposed expert may know much less about gold stocks and gold than we do.
The Hoople
(5/28/02; 19:51:41MT - usagold.com msg#: 76812)
Carl H.
Maybe they asked the Vatican politely first, and then showed them the consequences of refusing the offer? Since gold held firm today were they twice denied? If gold suddenly plummets I'll be more suspicious. An unconventional Holy War. I read where the Catholic Church is already liquidating some real estate and other possessions, it's not far fetched at all.
Waverider
(5/28/02; 19:39:44MT - usagold.com msg#: 76811)
Gold prices continue rise
http://globeandmail.com/servlet/RTGAMArticleHTMLTemplate/C/20020528/wbgoldpr?hub=businessBN&tf=tgam%252Frealtime%252Ffullstory_Bus.html&cf=tgam/realtime/config-neutral&vg=BigAdVariableGenerator&slug=wbgoldpr&date=20020528&archive=RTGAM&site=Business&ad_page_name=breakingnews-business
Snippit:
"The gold sector was glittering Tuesday after bullion prices hit their highest levels in more than two years.
With a weakening U.S. dollar, heavy stock market losses and escalating tensions between Pakistan and India, investors poured into gold in a flight to safety. As spot gold pierced $325 (U.S.) to hit its highest level since Oct. 7, 1999, Canadian gold stocks shone with the sector rising 5.20 per cent Tuesday."
Waverider: I've noticed that the title of this article in the Globe & Mail hasn't changed for the past week or so - the article just keeps getting updated each day! Hey, I like it!
Black Blade
(5/28/02; 19:13:08MT - usagold.com msg#: 76810)
U.S. Corporate Profits Too Weak To Give Big Stimulus
http://www.industryweek.com/DailyPage/news2.asp
Snippit:
The government's May 24 report on U.S. corporate profits showed the first increase in a year and a half, but growth remains too weak to spark a rebound in business investment, analysts said. After-tax corporate profits rose 0.9% in the first quarter, the Commerce Department announced. This is the first increase since the third quarter of 2000. Profit growth will be vital to fund future capital spending and a pickup will be crucial as the year progresses, analysts say. Federal Reserve Chairman Alan Greenspan has pointed to a pickup in business investment as the key ingredient to a sustained economic expansion.
Black Blade: Maybe you missed it. You would not have been alone, but corporate profits supposedly rose less that 1% last quarter. After a humungous drop in corporate profits such a pathetic rise is nothing to crow about. But here is where it gets "interesting". The SEC is tightening up accounting standards after the Enron-Arthur Andersen affair and several other lower profile scandals. The question becomes whether or not stated corporate profits can continue to improve without a helping hand from an auditor who is now less likely to give a wink and a nod. It looks like a tall order if you ask me, but then with a weakening US Dollar and tax incentives it could be a good first step.
BTW, notice how the USD index is bouncing off of 112? Also notice how the $325/oz. POG level was defended today. As I had stated last night, this could be a critical level that once breached might trigger a cascade of short covering leading to a frenzy of short squeezes as each resistence level is swept aside. There were at least three attempts to punch through and once the POG actually succeeded only to be pushed back. The question is how long can King Canute hold back the rising tide?
Renny
(5/28/02; 18:39:54MT - usagold.com msg#: 76809)
Contest
$$$$$325.40$$$$$ I'm still only just learning here but it looks as if gold is on a steady rise. This is my best (and rather unknowledgeable) guess.
ax
(5/28/02; 18:00:53MT - usagold.com msg#: 76808)
CORRECTED*: USD AXINDEX FALLS LOWER TO 96.03 mg of gold
CORRECTED*: USD AXINDEX FALLS LOWER TO 96.03 mg of gold
At the close of gold trading today, May 28, 2002, in New
York the U.S. Dollar AXINDEX fell to 96.03. The value of
the U.S. Dollar, the world's reference and reserve currency,
was * 96.03 * mg of gold.
Inasmuch as the U.S. Dollar is the world's reference and
reserve currency, it makes less sense to quote the value
of the U.S. Dollar in terms of other currencies or an index
made up of its relation to a mixture of other currencies.
The USD stands alone as the world's foremost currency and
as such must not be quoted in any other terms but its
value in milligrams of gold.
On May 3, the USD AXINDEX stood at 99.69 and looking back
to Nov 26 2001 the USD AXINDEX stood at about 114.14.
July 27, 2001 saw an even higher USD AXINDEX of about
117.06 mg of gold per one U.S. Dollar.
Conversely in January of 1980 when the price of gold hit
its all time high, the AXINDEX stood below 40 mg per one
U.S. Dollar.
In many respects the world situation is much graver
and more precarious than it was in 1980.
The U.S. Treasury as well as all private U.S. citizens
should take the opportunity now, while the gold value of the
U.S. Dollar is still a relatively high 96.03 milligrams,
to buy as much gold as they can.
Since the USD is the world reserve currency and reference
standard for all other currencies the U.S. Treasury can
never have too much gold. It should accumulate over the
short and long term as much as it can.
Private U.S. citizens should do likewise for their own
safety and security particularly in these troubled times.
British citizens concerned about the future value of the
British Pound should likewize urge their government to
restore British gold reserves to previous levels. Otherwize
the British Pound may have difficulty in maintaining its
relative value to the other currencies. Reports indicate
that Russia, for example, has no intention of selling off
any of its actual gold reserves - just their surplus foreign
currency holdings.
AX
Frosty
(5/28/02; 17:48:48MT - usagold.com msg#: 76806)
Contest
Greetings,
$$$$325.30$$$$ I have learned so much from the kind folks at this place. Thank you! I read a few months ago that Greenspan told the Bullion banks to cover prior to May...manybe the rumor was true. Cheers.
Frosty
Arcticfox
(5/28/02; 17:32:35MT - usagold.com msg#: 76805)
SO THERE!!! (Credit to CITYTOCITY)
OK, let's talk about the longer term, say within 2 years. Here we have a problem, and it's a very difficult problem. The problem is that over a 25-year period the average P/E ratio for the broad S&P is 17.05. The average P/E ratio for a 50-year period is 16.17. When the S&P has advances above a P/E ratio of 20.2, the market has lost 2.5% in the following three months; it has lost 7.3% in the following six months. And it has lost 1.4% over the following 12 months. That's according to Ned Davis Research.
And here's the problem. The P/E for the S&P is now 45 based on the current price of the S&P and reported earnings. If corporate profits further erode, PE's may increase more. They have never been this high before.
So all we can really say now is -- because stocks are currently selling at such rarefied prices, the chances are that, on average, total return over the next five years are not going to be attractive at all.
Probabilities suggest that either stocks will drag along for years with average total returns remaining in the doldrums. Or, over the next few years a bear market will knock stocks down to the point where they represent great values. Therefore starting from much lower levels, stocks could be in for profitable total returns again.
Investors have observed Japan's bubble and stock market dragging along for over 10 years. If Greenspan's synopsis for growth does not occur by October 2002, where do you think investors will turn? Remember there is over $2 trillion in money market funds. If ¼ of 1% is spent on gold stocks, we'll see an amazing rise in prices because the entire marketcap of all gold stocks is about 90 billion or 1/3 the size of just Microsoft.
Will Gold Ever Rally?
Yes Because:
Unsustainable supply/demand imbalance
·1 Mine production has flattened out at 2,600 tonnes annually
·2 Scrap supply is flat at about 600 tonnes annually
·3 Current annual demand is about 4,900 tonnes and continues to grow
·4 Growing deficit of about 2,500 tonnes annually
·5 Estimated 17,000 tonnes remaining (including loans/swaps)
Will Gold Ever Rally?
Yes Because:
Unsustainable short position
·1 Central banks have loaned gold to earn income on reserves. They lease gold for say 1.5% and then invest the proceeds into treasury bills at 3.65% and make the spread
·2 Bullion banks have borrowed gold for their own account (carry trade) and for producers (hedging) and used derivatives to limit their risk and generate additional income
·3 Loaned gold has been sold into physical market and now is jewelry
·4 Size of short position ( estimated over 3 times available supply and forward production) cannot be covered in the derivative market all at once; rapid covering would lead to much higher gold prices
Will Gold Ever Rally?
Yes Because:
Unsustainable low inflation
·1 The gold price rises with inflation
·2 CPI inflation has been very low due to strong dollar, but recently the dollar has broke down and CPI number are higher
·3 Aggressive interest rate cuts and monetary expansion to avoid recession/deflation by re-inflating.
·4 YTD Fed liquidity injection = $1 trillion
·5 CPI inflation inevitable: the Fed must inflate away excess debt or see debt defaults
·6 War is historically inflationary
Will Gold Ever Rally?
Yes Because:
Unsustainable U.S. dollar
·1 Historically high U.S. current account deficit (> $400 billion annually)
·2 Deficit recycled primarily into U.S. debt securities
·3 U.S. now world's largest debtor nation
·4 Foreign demand for U.S. securities declining and U.S. Dollar beginning major reversal
·5 Gold is only down in U.S. Dollars
·6 Since 1995 the U.S. Dollar is up 30% vs gold, 33% vs French Franc and 50% vs German Mark
·7 The Canadian dollar, French Franc and German Mark all buy as much gold today as in 1991
Will Gold Ever Rally?
Yes Because:
Unsustainable pricing for financial assets
·1 Share demand drives the gold price, more than demand for the physical bullion
·2 Gold is counter-cyclical, investors buy it when financial assets are out of favor
·3 Ownership and pricing (P/Es) of financial assets are at historic highs
·4 If financial assets continue to decline, investors will shift to gold Many predict that real estate is now at a bubble. This and consumer credit has kept the economy afloat over the last year, what wildcard is next?? Interest rates have already been lowered
The ratio of the Dow Jones Industrial Average to the price of gold reached an all time high in 2000 and is now declining rapidly, reflecting a major turn in the relative values of financial assets and gold.
Will Gold Ever Rally?
Yes Because:
Unsustainable gold price manipulation
EVIDENCE OF GOLD PRICE MANIPULATION
·1 Aggressive gold lending has filled supply/demand gap
·2 NY Fed gold has been mobilized when gold price is rising
·3 Timing of ESF gains/losses corresponds to gold price movements
·4 Audited reports of U.S. gold reserves show unexplained variances
·5 Fed minutes confirm officially denied gold swaps
·6 IMF rules on swaps revised but denied
·7 U.S. gold reserve recently re-designated as "deep storage gold"
·8 Statistical analysis of unusual gold price movements since 1994 indicates high probability of price suppression
·9 NY gold price movements versus London defy odds
·10 Timing of huge increases in bullion bank gold derivatives consistent with gold price declines
·11 Rapid decline of U.S. Treasury holdings of SDR certificates not explained
Will Gold Ever Rally?
Yes Because:
Gold is money again
·1 September 11 attack: The world is not the same
·2 Only gold is final settlement
·3 Return on gold is catching up to the dollar deposits
·4 Negative real U.S. interest rates (now 0.5%) undercut dollar, always gold bullish
Gold Price Now Poised to Move Higher?
·1 Falling interest rates are removing the incentive to short (hedge) gold, leading some mining companies to cover hedges. This could catch-on if gold prices continue upward
·2 Monetary inflation is on the rise
·3 Gold supply/demand imbalance growing
·4 Production is set to decline abruptly at the current gold price
·5 Most gold producers are changing their views towards hedging. Major hedgers in the past such as Barrick and Anglo-Gold have closed a fair amount of their hedge book.
·6 Nasdaq stocks are not recovering as well as Wall Street analysts have predicted waning investor confidence that will lead them to other sectors
·7 Veneroso estimates true gold equilibrium price of US$600
USAGOLD / Centennial Precious Metals, Inc.
(5/28/02; 17:22:12MT - usagold.com msg#: 76804)
For $5.95 you can learn more about gold than most financial advisors will ever know
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.
CoBra(too)
(5/28/02; 16:36:40MT - usagold.com msg#: 76803)
Be Happy - Gräfin - &
- Worry you Not! was my desire -
So don't worry ... just be happy and accumulate
reality ...
- Weiss ich
- warum -
bin ich so dumm
und frage mich -
für wen arbeite ich -
wenn nicht für mich?
Als meine Pension -
ist ausgesetzt in Zeit
und Geld -
... a boomer's rude
awakening
to the fact that
"Alles ist HIN" -
as our favorite
"Lieber Augustin" has
and had said about the
sad state of Wien -
during the pestilence
or black death days
of a regime
of monetary misery.
... RIP - FED & Creatures
of jeckyll Island -
The remembrance day - some say -
veterans - has been historically
seen GWB, the President, resident
to honor the real hero's of the
Normandy D- no- V-day -
heroic attack ... are the nation's
'Nam's unspeakable losers - of supremacy
... a state of flexibility ...
-changing with the winds - In a jiffy -
unfortunately - only the weight of gold
-fortunately - stays constant at the oz
being 32 and some fraction of grams - even if you
prefer "gramme's" ... Wos wiegt's des hots - oder? Graefin?
goldroadlx7
(5/28/02; 15:57:31MT - usagold.com msg#: 76802)
gold contest
$$$$$329.70$$$$$this is just a guess,as volitility in the market is getting out of hand. and to our benifit i mite add,we could get a 4th of july fireworks display before the 4th,it will be the mega hedgers going up and bursting, hopefully not all at once. we will want the display to last awhile so all can see. ever here of the big bang theory. you will!!!! all the best to all. goldroadlx7
Boilermaker
(5/28/02; 15:37:45MT - usagold.com msg#: 76801)
Black Blade- Mongolian Fishing Trip
Several years ago I invested in Mongolia Gold Resources that had discovered and were building a placer gold mine called the Bumbat Mine on a river in Mongolia. Dave Webb (Ph.D Geology) was the president and I got aquainted with him on Silicon Investor where he often posted about the company's fortunes and misfortunes. Dave Webb in my opinion is the most honest and straightforward guy that I have ever seen in the junior (or senior) gold mining business. If you want to get an education about the hazards of gold mining ventures, political, economic and physical give Dave a call. He might also be able to tell you where to find the best fishing and the most desirable yak milk and steaks.
Dave folded the company into Tyhee Development where he is now president. The Mongolia Gold venture was one of many unfortunate lessons that I learned in the late 90's investing in junior golds. I've held on to the stock and now I'm down only 86.89% after a 4X rally. But seriously, Dave Webb is a class act, give him a call. He still posts on Silicon Investor for his company.
Graefin
(5/28/02; 15:32:46MT - usagold.com msg#: 76800)
Cobra zwei...
Now you have me worried!!!!!
- Gräfin
Graefin
(5/28/02; 15:27:17MT - usagold.com msg#: 76799)
Mexican...Hedging...
Thank you for your detailed, precise, and scholarly answer to my hedging question. However, considering the limited capacity my brain is able to comprehend, I must give you these few words...Ich habe keine Ahnung!!!!!
Peace!
- Gräfin
CoBra(too)
(5/28/02; 15:24:52MT - usagold.com msg#: 76798)
A-or Dis-counting a Countess ... or such
Oder Gräfin ... Gandalf, der weiss was er will - als die Weiss ist - viel-?leicht die Blaesse, die, die Geiss von Weiss nicht will (to kill) die - na ja - Idiotie der einzigen Reserve Currency - ...
Ohne checks and balances - als die "letzte" Demokratie - beweist, dass auch diese Form von - democracy is just a brush away from barbary - and any other atrocity - is where beast ends and human beasts start to perpetrate any limit - ... The beast of the beast - in the end ... has nothing left - except - Ich friss mich selbst ... or who - me?
- or my little stash of gold ... hee- ;>( - haw ...) or just a funny li'l ol' bunny out of a messy top and madder hat!
Und I'm ... cetero censeo ... pretty sure you're as unbegabt to state your real (non)- con- sequential and official (proverbial) and immortal blasphemious and nihilistic infamous last words of the GRAF ...
... DRACULA ... in need of new blood - as the US Buck is sucked dry as a water well in Saudi Arabia ... and all I drink is stinkin' crude - not even light and sweet TI - but the rant of Brent - tasting like a residue of the Mor(m)on State of the great Salt Lake ... pyre! - and prior to the Winter Olympics ... Oh, no - I'll tell you when I really wannna make fun of you ... and see u too cb2
... an' pls see me as Eye see U - kuckoo
sourdough
(5/28/02; 14:50:54MT - usagold.com msg#: 76797)
Retail Financial Advisors
Does the World Gold Council or any other entity conduct an ongoing poll of retail financial advisors, relating to how many are advising for/against their clients holding a % of assets in gold?
This would be an interesting graph to see.
While the majority, may not be as yet, pro 5% (more or less) gold assets, they must at the very least start dropping the "G" word.
I would think that while it is an important factor in reducing risk to a clients personal portfolio, it may be an even more important factor is reducing risk (of losing) to the financial advisors portfolio of clients.
Graefin
(5/28/02; 14:47:10MT - usagold.com msg#: 76796)
RobotGuy...chaning lead to gold...
Are you practicing Alchemy? If so, would you lay me a golden egg?
Graefin
(5/28/02; 14:19:40MT - usagold.com msg#: 76795)
Grandalf Die Weiß
So I guess what you tried to say is that, no, du emphangst keinen GEHALTSSCHECK. um, von USA GOLD! Sondern von Andern. Ich sehe. Das ist nicht so gut! Du muss dieses mit jenen Leuten behandeln und zu einer Vereinbarung kommen!Jetzt...Ich habe eine Frage für dich: Mit einem Namen wie dir, hast du aussehen wie MERLIN???
Peace!
- Gräfin
Carl H
(5/28/02; 14:03:38MT - usagold.com msg#: 76794)
Hoople:
I actually guessed that was what was happening back when the church scandal was in it early stages. I saw several articles about it in the strech of a couple weeks. I thought to myself, why would anyone attack the church. Then I remebered reading that the church is _rumored_ to have more than 1000 tons of gold. (They do not publish statistics.) The figure seems believable given the age and nature of the church. We know that the cabal would like to have access to that gold.
Consider that if GATA is correct and the US gold reserve is gone and the German gold reserve is gone, except the coin melt gold at West Point, then the Vatican may well have one of the largest hoards of deliverable gold on the planet.
The scandal might force the Vatican to sell some it's gold because reports have said that tithes in some areas the US are down 90%.
If Bush made requests (demands) for Vatican gold, I hope that the Pope responded by giving Bush a blessing and vial of holy water and sending him on his way.
RobotGuy
(5/28/02; 13:52:53MT - usagold.com msg#: 76793)
Addition - - - to previous message
Rubies, Saphires, and Diamonds are relativly easy to replicate - - - they are all carbon formations, I would sooner bet my bottom dollar on a rare atom than a rare specimen.
RobotGuy
(5/28/02; 13:47:28MT - usagold.com msg#: 76792)
About - - - Changing Lead to Gold
Do you realize how much energy it takes to force a proton into another atom? I read about this years ago, and the figure was astronomical to produce one ounce of gold. If gold reached $1,000,000 an ounce, it would still be too expensive to create it artificially in a particle accelerator. Don't worry, gold is valuable, but not that valuable.
YGM
(5/28/02; 13:20:59MT - usagold.com msg#: 76791)
Read about the Depository Trust Co...Most Secret Bank in World ($19 Trill)
http://ecclesia.org/forum/uploaded/admin/Banking%20Scam.pdf
The Link may not work as you must register for free use of site. If it doesn't link then type----http://ecclesia.org
and register for password...Quick & simple......YGM
"The Great American Banking and Derivatives Scam"
This is a compiled Five Part Series including the following articles:
Part I:
The Depository Trust Company (DTC)
Part II:
You don't own your Stocks or Bonds (CEDE & CO.)
Part III:
Financial Fraud & Money Laundering on Wall Street
Part IV:
Banking Corruption In Government
Part V:
Wall Street thievery
*Sorry it's PDF format so I could not give an Excerpt to wet your appetite....>YGM.
Tate
(5/28/02; 13:15:44MT - usagold.com msg#: 76790)
Au Price guessing contest
Au Price guessing contest. Why: GREED. With every dollar up gold shines with higher intensity and creates more GREED among speculators and investors alike. $$$$329.80$$$$
Graefin
(5/28/02; 13:08:53MT - usagold.com msg#: 76789)
RobotGuy...Those one Beasts...
Yea. Those one beasts! Never heard him refer to them as "Beasts" before, but rather "metal idiots!" Of course, what we bang on every day to speak to this forum goes through those metal idiots too! Mexican works for Ford in Köln. Not much travel, just a lot of programming! Hey...nice spike in metals today, eh?
Peace, Love, and Gold Bars!
- Gräfin
Sierra Madre
(5/28/02; 12:53:54MT - usagold.com msg#: 76788)
A horrible thought for the day...
Irradiated gold.
That would be one way to demonitize it permanently. I guess the demons that run our world will get around to it, sooner or later.
Not necessary to irradiate all gold. Just a substantial amount would create fear of all the stuff in due course.
If there is nuclear war between Pakistan and India, the gold will remain and be salvaged, and find its way slowly into the whole mass remaining in the world. Maybe these countries now gripped by mass hysteria, will use neutron bombs to exterminate themselves.
I don't really want to think about this any further.
Sierra
CoBra(too)
(5/28/02; 12:27:19MT - usagold.com msg#: 76787)
James Turk - And not only a smoking GUN!
As I've had the privilege to meet James T. in person - I can only say - E-Gold Money - may be a good way to avoid part of the melt-down in buying power of any "conventional" fiat paper money - snippet:
"Turk sees an actual physical impact of new bullion
buying in the market, in part from gold companies
that are reducing their controversial use of derivatives
and bullion leasing to sell "forward" their mined metal
in an attempt to enhance the price. "So you have the
psychological impact that the companies themselves
have the expectation that gold will rise and they can
no longer hedge," he said, pointing to the latest
possible gold merger of Canada's Placer Dome
and Australia's Aurion.
Placer Dome would buy AurionGold, Australia's No.
2 gold producer, for a price 30 percent greater than
the company's shares were worth. Placer Dome says
if it winds up owning AurionGold, subject to other,
competing bids, it would sharply reduce the hedge
books of the entire merged company.
Turk, like a growing number of money managers, sees
demand for the dollar and dollar-based stocks, bonds,
and real estate declining dramatically as America's
debt levels cripple the financial system. The relentless
growth of the world's central bank-fed money supplies
since 1992 or so could add to the woes of the dollar,
and other major currencies.
"Gold is an advance indicator of monetary problems,
and inflation and deflation are two monetary problems,"
Turk said, when asked if he believes gold is a reliable
leading indicator of commodity inflation. "My own
perception is not the quantity or supply of money but
the demand for the dollar, which will decline."
Turk's GoldMoney, of course, would thrive in the event of
a fiscal meltdown or a prolonged battering of the world's
currencies, and the way those currencies are exchanged
for one another. Based in the Channel Islands, with a vault
on the outskirts of London, GoldMoney offers users the
ability to exchange their 400-ounce gold bars, coins, and
currencies into electronic gold, then transfer it in grams via
the Internet. There are other digital bullion services, such
as E-Gold Ltd., that exchange assets into vault-stored gold
ownership that is then circulated electronically.
Turk says three gold mining companies are considering
using GoldMoney to distribute actual dividend payments
in gold to shareholders: Iamgold, Goldcorp, and Durban
Roodepoort Deep. GoldMoney does not charge for the
transfer of a 400-ounce gold bar into its London vault, as
long as it is coordinated by the London Bullion Market
Association."
- Though, after all physical gold in your hand - beats any other investment - at this time - and potentially for a long time ...
Regards - cb2
PS: listened in to an old "literate" ex-Austrian refugee of jewish descent - to Argentina - who, besides being a M.D. by profession was honored by his literacy - and tried to explain the calamity of a country as rich in resources as his new found domicile ...
... Is it the corruption of government, or establishment? - No, way too small to sink a country like our's - and before going into all the reality of the surreality of globalization - beware and be aware, of the one condition only - as long as no-one interferes with our global philosophy - The Monroe Doctrine - seen uprooted - as in bushes -
... and the so called free market capitalist system running amuck - as all checks and balances (and even the communist system) have surrendered to the one system of total corruption ... of the "Establishment" - wreaking havoc to no end to civility - today and civilization to decay ... soon after ... or, any other great idea's - how to debt finance the war against terror - the same terror, which started by financing with debt the real and tangible assets and labour of the now terrorists ...
Sorry - to have made your day ... well, probably not really -
... and be it as it may - this system of floating currencies against - each other? - No, against the hegemonial Reserve Dollar has seen its day and is in for the real reckoning - 30 Trillion of debt Dollars can never ever be repaid ... or let's put it this way 6% of the global population - The US - Owe one year of all the efforts of the other 94% of the world ... Oh, really to the rest of the world? Uh- Oh!?
Nah, can't be - those suckers were relyin' on me to gobble up their products - and did they ask me as to how to pay back their stupidity?
- Never - may well be the answer ... and sorry to ramble on in eternity ...
YGM
(5/28/02; 12:11:53MT - usagold.com msg#: 76786)
Turning Lead into Gold....At an extreme VOG it may happen....Don't Laugh!
http://chemistry.about.com/library/weekly/aa050601a.htm
Excerpt:
Transmutation of lead into gold isn't just theoretically possible - it has been achieved! There are reports that Glenn Seaborg, 1951 Nobel Laureate in Chemistry, succeeded in transmuting a minute quantity of lead (possibly en route from bismuth, in 1980) into gold. There is an earlier report (1972) in which Soviet physicists at a nuclear research facility near Lake Baikal in Siberia accidentally discovered a reaction for turning lead into gold when they found the lead shielding of an experimental reactor had changed to gold.
Complete @ Link....
The Hoople
(5/28/02; 12:05:52MT - usagold.com msg#: 76785)
Carl H.
When I saw Bush making that little Vatican detour I thought the same thing. A "shakedown cruise". I wonder furthermore if the scandal was allowed to erupt so a "solution" could be provided. Maybe the Vatican needs more than divine guidance to protect it from the banksters and the Fed.
YGM
(5/28/02; 11:57:53MT - usagold.com msg#: 76784)
Scientific Data on Irradiation of Gold....
http://monatomic.earth.com/contributed/sample-analysis.html
Excerpt:
Gold as found in nature has only one isotope, this being 79Au197. In neutron activation, gold is bombarded with neutrons causing it to be converted to 79Au198 (the equivalent of absorbing one neutron). 79Au198 has unique characteristics, the most important being that it is radioactive with a half life of 2.694 days. In its radioactive state it radiates beta particles of a known energy. By analysis of the decay term (half-life) and the energies of decay, the operator is able to identify the presence of gold in the original sample. As this radioactive gold decays, it converts to 80Hg198, or stable mercury.
There is nothing within this evasive procedure that will detect the presence of super conducting atoms, monoatomics, or the like. This procedure does not have an interaction with the electron cloud, nor the asymmetry of the nucleus. All atoms present will become radioactive at a rate proportional to their thermal nuclear cross section quotient.
YGM
(5/28/02; 11:52:23MT - usagold.com msg#: 76783)
More on Irradiated Gold....
http://ens.lycos.com/ens/aug99/1999L-08-30g.html
In the early 1980s, the New York State Health Department found 170 radioactive pieces of jewelry out of 160,000 surveyed. News accounts from that time report that at least 14 people developed finger cancer and some had suffered finger and partial hand amputations from wearing the radioactive jewelry. The source of the radioactive gold was believed to be the state owned Roswell Park Institute for cancer research and treatment.
An scientist or engineer would say that 170 out of 160,000 pieces was only a tenth of one percent and therefore statistically insignificant. Tell that to the people with amputated fingers.
Cont'd....
Henri
(5/28/02; 11:47:06MT - usagold.com msg#: 76782)
Sierra Madre
Do you really want an answer to that question?
Although gold does become highly radioactive when irradiated with a suitable neutron fluence, detection of the characteristic gamma emissions for the various byproducts produced would probably be difficult against the background of fission products and other activated material in the area.
YGM
(5/28/02; 11:46:28MT - usagold.com msg#: 76781)
Sierra....Radioactive Gold.....Very Serious and Unspoken Of Evidence.....
http://www.washingtonpost.com/wp-srv/national/daily/aug99/metals14.htm
EXCERPT:
Recovering gold and other valuable metals from retired nuclear weapons had been a little-known mission of the government's uranium enrichment plants over the past five decades. At Paducah, the process began in the 1950s and was conducted under extraordinary security, with heavily armed guards escorting warheads into the plant under cover of darkness.
Garland "Bud" Jenkins, one of three Paducah workers involved in the lawsuit filed under seal in June, says he worked for several years in Paducah's metals program recovering gold, lead, aluminum and nickel from nuclear weapons and production equipment.
"We melted the gold flakes in a furnace to create gold bars," Jenkins said in court documents. "The gold was never surveyed radiologically prior to its release, to my knowledge."
Jenkins also says he never saw tests performed on nickel and aluminum ingots that were hauled out of the plant in trucks. In later years, when plant managers did begin screening the metals, many were found to be contaminated, he said. Hundreds of nickel ingots are still stored at the plant, too tainted to go anywhere, he said.
A plant report included in the lawsuit filings may shed light on the degree of contamination in the gold. In a radiological survey of the plant last year, technicians discovered gold flakes inside an old ingot mold used for gold recovery. The fish scale-sized flakes were tested and found to emit radiation at a rate of 500 millirems an hour, the report said. By comparison, the average person receives between 200 and 300 millirems each year from all sources, including X-rays, radon gas and cosmic radiation from space.
"If you had a wedding ring made out of those flakes you'd be getting twice as much radiation in an hour as most people get in a year," said Joseph R. Egan, a lawyer representing the employees.
Fowler, the radiation safety technician, said he filed a report on the discovery of the radioactive gold in December but received no response from the plant's management.
**Nothing further was done to investigate "the possibility that [the plant] may have contaminated the nation's gold supply" at "Fort Knox", he said.**
Complete article @ Link.......YGM
Sierra Madre
(5/28/02; 11:22:40MT - usagold.com msg#: 76780)
Effects of war between Pakistan/India??
Question: would a nuclear war between Pakistan and India, leave a residue of radioactive gold behind?
Does anyone know the answer?
Sierra
Goldfinger 2
(5/28/02; 11:20:26MT - usagold.com msg#: 76779)
$$$$$$$332.2$$$$$$
A good friend of mine who lives in NH called 9 of the biggest coin shops in NH last friday looking for gold bars and coin. No one had any 10oz bars in stock and only 3 had Maples and Eagles readily available. 6mo ago he called around and 4 shops had 10oz bars and all had Maples and Eagles on site.
Sierra Madre
(5/28/02; 11:16:34MT - usagold.com msg#: 76778)
"Looking into the abyss..."
Sector: There is high drama in your description of the situation and unfolding events. Thanks to the internet, we are privileged to contemplate a world wide crisis approaching its resolution.
Wow! This is something like watching a comet hit a planet - except that the planet is going to be ours!
I tried to post early this morning, but my message was deleted accidentally. I predicted a strong day for gold, based on vigorous trading in Asia, with a price target of $325. Looks like we've hit it. Perhaps it will remain there.
"Courage he said, and pointed towards the shore"
We're almost there. I hope we like it.
Sierra
RobotGuy
(5/28/02; 10:38:00MT - usagold.com msg#: 76777)
Guessing Contest - - - - $$$$334.7$$$$
Interest in gold is snowballing, and even the mainsrteam junior investors are starting to tune in. There's still a lot of uncertainty in the market, but after today many will come to terms with the fact that gold is going up, and will continue to go up. The many folks who used to poke fun at goldbugs are finally shutting their yaps, and in some cases even apologizing as they reach for their wallets and telephones. I'm sure our generous hosts here at Centennial precious metals are going out of their minds trying to keep up with the outrageous number of incoming orders. The more people who go nuts trying to get their hands on the precious yellow, the faster the price is going to skyrocket. I thought gold might reach $350 by July, but it's becoming evident that it might happen much sooner than that.
Invisible Hand - - - I've got my fingers crossed for you!!
Siochain
(5/28/02; 10:33:27MT - usagold.com msg#: 76776)
BB
OK you win the fastest draw ....and as for July birthdays...we'll have to check out others...Leigh...you...and I have July birthdays....maybe good Sign for July gold!!!!
ROSEBUD99
(5/28/02; 10:32:46MT - usagold.com msg#: 76775)
$$$350.00$$$
Every dip is now bought. We "bugs" learned well from the tech's. The dips seem now only to last hours not days. The great presure on the shorts is getting unbearable. The hedgers are covering as fast as they dare. Who will be left without a golden chair now that the music has stoped?? Looks like its the bullion banks and barrick. (well deserved too) I'm even begining to wonder that if a central bank did decide to sell, might the price not go up on the news like it did in the 70's when they anounced sales. This is so much fun !!! Like a long wait for an amusement park ride, then finally in the seat, and look, up ahead, we are climbing the 1st big hill, hold on to your hats.
YGM
(5/28/02; 10:16:52MT - usagold.com msg#: 76774)
Siochain..
Just noticed Black B is faster than us....
now we have triplicate....Oh well it's faily quiet here today anyway & Chris will make 4 probably....
Siochain
(5/28/02; 10:13:38MT - usagold.com msg#: 76773)
YGM
You are fast on the draw...sorry for duplicate....deinitely "things" are happening!!!
Siochain
(5/28/02; 10:11:15MT - usagold.com msg#: 76772)
Bullion banks' bets against gold are getting noticed
http://www.thisislondon.co.uk/dynamic/news/business_story.html?
Gata alert re column :
Apprehension is building up in the gold market about
the big bets taken by some banks that the bullion price
would stay low. Instead, gold has soared from $278 to
$320 an ounce. Traders think it will soon reach $325,
the highest since autumn 1999.
This has caused a scramble to unwind bets against
the price. Many of these are by big mining companies
that "hedged" their future production. One of the biggest
players, Ghana's Ashanti, has been struggling for years
after running up hefty losses on hedging. More recently,
other gold companies, such as South Africa's Durban
Deep, raised new equity to help unwind their selling bets.
The miners have future gold production coming through
to offset any selling commitments.
U.S. investment banks, including JP Morgan and Goldman
Sachs, were active in the gold market. U.S. commercial
banks have held big derivative positions. If any of these
banks took big bets on the gold price staying low, they
would be doing so without future metal production to fall
back on.
One leading expert said: "The potential for a squeeze is
huge." Some say that a rise to $330 would trigger more
"margin calls," forcing gold bears to put up more funds.
Such warnings have been heard before, but the gold
market, though global, is relatively small and can easily
be swamped by huge derivative trades. Some estimate
the "short" position at 1,500 to 3,000 tonnes -- six months'
to a year's output.
With the dollar under fire and India-Pakistan war fears,
everything seems to be running gold's way at the moment.
It finished at $320.15 in London on Monday night, having
earlier hit $320.80.
Pizz
(5/28/02; 10:07:10MT - usagold.com msg#: 76771)
Price Guess
$$$$$$$349.2$$$$$$
Seems to be enough fear and uncertainity to blow thru resistance in the 320's and 330's if we get any increase in tensions in ME or India/Pakistan. The short covering should push us into the 350's with a vigorous defense at those levels, with a corresponding retrenchment back into high 340's, hence my guess.
Pizz
YGM
(5/28/02; 10:04:29MT - usagold.com msg#: 76770)
GATA Email...
http://www.gata.org
[GATA] Bullion banks' bets against gold are getting noticed
Date: 5/28/2002 10:28:29 AM Central Standard Time
From: GATAComm@aol.com
To: gata@yahoogroups.com
11:22a ET Tuesday, May 28, 2002
Dear Friend of GATA and Gold:
The story below from the Daily Mail in Britain is interesting
for showing that GATA's story about the bullion banks' big
short position in gold and the resulting manipulation of
the gold price is breaking through even to mainstream
news organizations. Meanwhile, the gold price seems to
be reflecting this growing awareness. One has to suspect
that the GATA delegation's work at the mining analyst
conference in London last week has had sustantial impact
here.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Gold sparks rush to unwind bets
By Brian O'Connor
Daily Mail, London
May 28, 2002
http://www.thisislondon.co.uk/dynamic/news/business_story.html?
in_review_id=596986&in_review_text_id=565840
Apprehension is building up in the gold market about
the big bets taken by some banks that the bullion price
would stay low. Instead, gold has soared from $278 to
$320 an ounce. Traders think it will soon reach $325,
the highest since autumn 1999.
This has caused a scramble to unwind bets against
the price. Many of these are by big mining companies
that "hedged" their future production. One of the biggest
players, Ghana's Ashanti, has been struggling for years
after running up hefty losses on hedging. More recently,
other gold companies, such as South Africa's Durban
Deep, raised new equity to help unwind their selling bets.
The miners have future gold production coming through
to offset any selling commitments.
U.S. investment banks, including JP Morgan and Goldman
Sachs, were active in the gold market. U.S. commercial
banks have held big derivative positions. If any of these
banks took big bets on the gold price staying low, they
would be doing so without future metal production to fall
back on.
One leading expert said: "The potential for a squeeze is
huge." Some say that a rise to $330 would trigger more
"margin calls," forcing gold bears to put up more funds.
Such warnings have been heard before, but the gold
market, though global, is relatively small and can easily
be swamped by huge derivative trades. Some estimate
the "short" position at 1,500 to 3,000 tonnes -- six months'
to a year's output.
With the dollar under fire and India-Pakistan war fears,
everything seems to be running gold's way at the moment.
It finished at $320.15 in London on Monday night, having
earlier hit $320.80.
-END-
Siochain
(5/28/02; 10:03:31MT - usagold.com msg#: 76769)
@YGM
That's my thinking....especially once it gets out that Goldman was really massive on today's Comex and with SM down...flight to safety ....or better yet...flight to quality!!
YGM
(5/28/02; 09:50:53MT - usagold.com msg#: 76768)
Siochain.....
Where Goldman Goes Many will Follow!
Could it be the first panic attack by the short consortium
has arrived? It will be hard to hold back the likes of Soros et al when they smell blood! If they cared not for threats from the Brits years ago why be put off now? The rush to the exits by a virtual stampede will be deafening!
ABX, PDG and others trying to close hedges today must be heavy into the Valium......YGM
sector
(5/28/02; 09:49:44MT - usagold.com msg#: 76767)
JPM's Gold Derivative Book
"It was a gold loan book...period"...GATA's Deep Throat
This has an ominous meaning.
Set aside the firings of JPM top management of late. Set aside the frantic efforts by the Fed to insulate the Fed Funds interest rate from volatility [Easy Al changed the discount window rules last week]. Set aside the assignation of the 30 year bond earlier for the same reason. [See...it's volatility that kills the $16 trillion interest rate derivative book at JPM which was bnuilt on the premise that gold was fully controlled].
Set all that aside.
"Their gold derivatives book is a loan book...period". "Borrowed" from whom? The US Treasury...that's who. Who else has $60 Billion at $275 pog?
So what did JPM DO with that "Borrowed" gold? They loaned it out AGAIN to a long list of counter parties that included Syria and Libya. But set that stuff aside.
The gold has already been sold...ALL of it...for all practical purposes. It cannot be returned at anywhere NEAR its loaned value...even IF the metal could be physically obtained.
JPM and the FED have loaned and their counter parties have sold all the US gold reserves for the purpose of gold price suppression [Mainly to create a low interest rate condition] and now with $325 pog, the marker on that gold is coming due. With what can they now "Defend" a price? Perhaps The Master of the Universe is asking for gold watches and wedding bands at the Fed these days.
The interest rate marker is yet to hit but that is the "Big One". IRDs will crack JPM in half. They will be Enronized. CEO Harrison will be told to fall on his sword...maybe by Labor Day.
When the iRD book goes under, the BIS and G-10 money center banks will be cruelly set adrift to be smashed on the rocks of financial reality.
Behold the vengeance of gold.
Siochain
(5/28/02; 09:41:22MT - usagold.com msg#: 76766)
Gold Contest
With Goldman buying heavy could create more spikes this week...$$$$338.90$$$$
YGM
(5/28/02; 09:38:32MT - usagold.com msg#: 76765)
Spot Silver......
http://www.kitco.com/charts/livesilver.html
Rich Powell....Here's a spike for you buddy! Pole Vault in the wings.....YGM.
Siochain
(5/28/02; 09:38:10MT - usagold.com msg#: 76764)
Goldman massive buyer
Cafe bulletin just alerted that Goldman Sachs is massived buyer today ...no wonder the rocket...Interesting!!!!
YGM
(5/28/02; 09:29:16MT - usagold.com msg#: 76763)
Spot.....
Pole Vaulting Again!
Just had to check the chart one last look before heading to the creek out back....Now who can fish? Limit up days seem closer and closer! So much for my Contest guess!
Carl H
(5/28/02; 09:23:43MT - usagold.com msg#: 76762)
Vatican Gold
I wonder how much gold Bush is asking for to have the church's scandal fade from the media...
Pizz
(5/28/02; 09:23:37MT - usagold.com msg#: 76761)
Market Action
SM futures were up before the open and the sellers came in real quick. The selling seems to be coming in on virtually any hint of strength.
Gold up, dollar weak. Capital still leaving US and the dollar not the safe haven it was just a short time ago. There could be strong selling into limited strength here also. Makes me think something has broken down and not public yet - one of our smoldering problems ready to burst into flame?.
Ruppert's getting some attention. Normally these guy's are just ignored. Cancelled interview? Not too smart unless we're a bit closer to the cliff. Not real good PR to have a guy like this throw out terrorist/conspiracy plots and have one happen???? Also not too good to cancel an interview before one either.
Could be an interesting/short week.
Pizz
YGM
(5/28/02; 08:51:42MT - usagold.com msg#: 76760)
G Bear...
That Ruppert Interview w/GNN, Boom Bust Echo....Took me totaly by surprise.....Don't know where I was when that came out.....Still trying to figure out what it did to my
already hieghtened survival mentality! The man must be incredibly brave, foolish, have a death wish or all of the above...Speaking engagements in Alberta even, in June...
He appears to be hell bent to get his message out there!
I'm goin fishing and forget this crap for awhile if it's possible!....YGM
"GO GATA" "GO Gold Miners" "Go GOLD" "Go Physical 50%"
sourdough
(5/28/02; 08:04:14MT - usagold.com msg#: 76759)
Central fund of Canada raising money to buy PHYSICAL gold and silver
http://www.newswire.ca/releases/May2002/28/c9906.html
More demand for both.
Gandalf the White
(5/28/02; 07:50:57MT - usagold.com msg#: 76758)
The COMEX GOLD JUNE '02 Settlement Price GUESSING CONTEST
http://www.usagold.com/cpmforum/tools/guideandsignup.html
TA, TA, TA, TAAA, TAAA, TAAAAAAAA, TAAA, TAAA, TAAAAAAAAAAAAAAAAA!!!!!!
Hear Ye. . . .Hear Ye. . . . A Call to Contest. . .
Under the auspices of Sir MK, our USAGOLD Forum host, Centennial Precious Metals, Inc., is requesting a test of your thinking, predicting and posting skills to occur until midnight (MDT Denver, CO time) on Thursday, May 30th to Guess the SETTLEMENT Price of the June COMEX GOLD Contract on Friday, May 31, 2002. Prizes are one Swiss 20 Franc Helvetia (0.1867 ounces of GOLD) to the WINNER, and a one ounce Silver Maple Leaf to EACH of the Runners-up.
This is also an "Invitation" to all UNREGISTERED LURKERS to submit your request to be able to "POST" by following the instructions at the ABOVE LINK, and THEN be able to enter the CONTEST!!!
---
THE RULES
1) The winner is the closest to the Settlement price of the most active
JUNE GOLD Contract (GC2M) on the date of Friday the 31st of May, 2002.
2) Price "Guesses" shall be stated in Dollars and tenths ! (Such as 543.2)
3) "Guesses" shall be enclosed in markers of "Dollar Signs"
so as to be OFFICIAL ! Such as $$$$ 543.2 $$$$
4) ONLY one "Guess" per Knight or Lady and once that "Guess"
has been "taken" -- no one can duplicate it !!
FIRST COME has rights to that "Guess".
5) HOWEVER, All "Guesses" MUST be posted before the clock
in Denver strikes 12 Midnight on Thursday, MAY 30th.
6) AND MOST IMPORTANTLY -- A short "WHY" discussion
paragraph MUST accompany each "Guess".
===
LUCKY # 13th UPDATE on POG Guessing Contest ! <;-)
ENTRIES in Contest (sorted by Price) !!
====
$$$$ 8,752.0 $$$$ The Invisible Hand (05/24/02; 05:39:59MT msg#: 76471
$$$$ 440.2 $$$$ goldquest (05/22/02; 14:17:02MT msg#: 76261
$$$$ 360.0 $$$$ GoldnSilver2002 (05/24/02; 12:29:56MT msg#: 76497
$$$$ 355.9 $$$$ darkhorse (05/22/02; 21:25:11MT msg#: 76317
$$$$ 354.0 $$$$ Henri (05/24/02; 09:18:51MT msg#: 76490
$$$$ 352.5 $$$$ White Hills (05/22/02; 19:23:20MT msg#: 76300
$$$$ 348.0 $$$$ White Rose (05/25/02; 22:03:47MT msg#: 76569
$$$$ 343.0 $$$$ ji (5/25/02; 06:23:45MT msg#: 76533
$$$$ 342.0 $$$$ neer-do-well (05/24/02; 08:20:19MT msg#: 76484
$$$$ 339.0 $$$$ rsjacksr (05/22/02; 16:32:28MT msg#: 76278
$$$$ 337.5 $$$$ wiley (05/23/02; 10:49:37MT msg#: 76386
$$$$ 336.6 $$$$ zorro (5/23/02; 16:42:43MT msg#: 76420
$$$$ 336.0 $$$$ Creosote (05/22/02; 19:38:52MT msg#: 76303
$$$$ 335.6 $$$$ Kodie (05/26/02; 09:59:13MT - usagold.com msg#: 76588
$$$$ 335.1 $$$$ Gold Standard (5/27/02; 05:32:52MT msg#: 76663
$$$$ 334.3 $$$$ Believer (05/22/02; 16:19:37MT msg#: 76277
$$$$ 333.3 $$$$ Tevye (05/22/02; 13:58:29MT msg#: 76258
$$$$ 331.0 $$$$ DOWNUNDER (05/24/02; 22:40:53MT msg#: 76522
$$$$ 330.3 $$$$ Brahms (5/28/02; 00:16:44MT msg#: 76734
$$$$ 330.2 $$$$ Christian (5/27/02; 07:40:31MT msg#: 76666
$$$$ 329.4 $$$$ Clint H (5/23/02; 19:18:44MT msg#: 76436
$$$$ 328.4 $$$$ Slowman (05/24/02; 07:37:27MT msg#: 76479
$$$$ 327.7 $$$$ goldenpeace (5/28/02; 03:52:15MT msg#: 76749
$$$$ 327.6 $$$$ timbervision (05/23/02; 09:17:25MT msg#: 76369
$$$$ 327.2 $$$$ vermillion (5/23/02; 19:19:38MT msg#: 76437
$$$$ 327.0 $$$$ Solomon Weaver (05/25/02; 21:59:46MT msg#: 76568
$$$$ 326.9 $$$$ Achilles (05/24/02; 04:29:15MT msg#: 76466
$$$$ 326.8 $$$$ Hipplebeck (05/23/02; 06:07:51MT msg#: 76357
$$$$ 326.6 $$$$ slingshot (05/24/02; 19:24:09MT msg#: 76519
$$$$ 326.0 $$$$ Broken Tee (5/23/02; 15:38:46MT msg#: 76416
$$$$ 325.7 $$$$ OZ (05/26/02; 23:20:25MT msg#: 76635
$$$$ 325.5 $$$$ steady (05/24/02; 15:26:22MT msg#: 76503
$$$$ 325.0 $$$$ Around The Corner (5/23/02; 02:17:38MT msg#: 76350
$$$$ 324.9 $$$$ THX-1138 (05/22/02; 16:45:28MT msg#: 76279
$$$$ 324.8 $$$$ Yellow Metal (05/22/02; 16:51:55MT msg#: 76280
$$$$ 324.6 $$$$ Graefin (05/22/02; 13:33:35MT msg#: 76257
$$$$ 324.2 $$$$ Rock (05/22/02; 13:06:37MT msg#: 76254
$$$$ 323.6 $$$$ VanRip (05/22/02; 21:58:11MT msg#: 76323
$$$$ 322.6 $$$$ misetich (5/23/02; 03:05:56MT msg#: 76351
$$$$ 321.5 $$$$ RobertG (5/23/02; 19:23:59MT msg#: 76438
$$$$ 320.4 $$$$ Jimbo (05/22/02; 14:31:21MT msg#: 76264
$$$$ 320.2 $$$$ 18K (5/23/02; 03:47:11MT msg#: 76353
$$$$ 319.9 $$$$ Trapper (05/22/02; 17:52:38MT msg#: 76284
$$$$ 319.5 $$$$ YGM (05/22/02; 13:29:47MT msg#: 76256
$$$$ 319.0 $$$$ Houston (5/25/02; 12:57:47MT msg#: 76551
$$$$ 318.5 $$$$ EagleOne (05/22/02; 21:26:49MT msg#: 76318
$$$$ 318.2 $$$$ onlychild (05/22/02; 15:10:37MT msg#: 76269
$$$$ 317.5 $$$$ balzac (05/23/02; 07:33:25MT msg#: 76363
$$$$ 317.2 $$$$ Tommy P (05/23/02; 07:00:52MT msg#: 76361
$$$$ 317.0 $$$$ nickel62 (05/26/02; 09:20:46MT msg#: 76585
$$$$ 316.5 $$$$ cwa (05/24/02; 08:04:10MT msg#: 76481
$$$$ 316.0 $$$$ luckypierre (05/25/02; 15:52:53MT msg#: 76555
$$$$ 315.8 $$$$ Brett Woods (05/27/02; 21:19:19MT msg#: 76720
$$$$ 315.7 $$$$ law (05/27/02; 23:56:54MT msg#: 76732
$$$$ 315.4 $$$$ ausome (05/22/02; 18:51:28MT msg#: 76296
$$$$ 314.9 $$$$ HOOSIER GOLDBUG (05/22/02; 17:51:17MT msg#: 76283
$$$$ 314.5 $$$$ Pippin (05/23/02; 07:14:36MT msg#: 76362
$$$$ 313.5 $$$$ Topaz (5/25/02; 08:44:39MT - usagold.com msg#: 76541
$$$$ 312.5 $$$$ AUtistic (05/22/02; 17:50:02MT msg#: 76282
$$$$ 308.6 $$$$ kludge (05/23/02; 08:11:29MT msg#: 76365
$$$$ 298.5 $$$$ Mexican (05/27/02; 15:33:32MT msg#: 76690
===
61 Valid Entries and ZERO invalid ones !!!
"Come on in" all you LURKERS.
<;-)
Black Blade
(5/28/02; 06:54:40MT - usagold.com msg#: 76757)
Gold leap sparks rush to unwind bets
http://www.thisislondon.co.uk/dynamic/news/business_story.html?in_review_id=596986&in_review_text_id=565840
Snippit:
APPREHENSION is building up in the gold market about the big bets taken by some banks that the bullion price would stay low. Instead, gold has soared from $278 to $320 an ounce. Traders think it will soon reach $325, the highest since autumn 1999.
This has caused a scramble to unwind bets against the price. Many of these are by big mining companies that 'hedged' their future production. One of the biggest players, Ghana's Ashanti, has been struggling for years after running up hefty losses on hedging. More recently, other gold companies, such as South Africa's Durban Deep, raised new equity to help unwind their selling bets.
The miners have future gold production coming through to offset any selling commitments. US investment banks, including JP Morgan and Goldman Sachs, were active in the gold market. US commercial banks have held big derivative positions. If any of these banks took big bets on the gold price staying low, they would be doing so without future metal production to fall back on.
One leading expert said: 'The potential for a squeeze is huge.' Some say that a rise to $330 would trigger more 'margin calls', forcing gold bears to put up more funds. Such warnings have been heard before, but the gold market, though global, is relatively small and can easily be swamped by huge derivative trades. Some estimate the 'short' position at 1,500 to 3,000 tonnes - six months' to a year's output.
Black Blade: My feelings exactly. Actually I expect that the $325.00/oz. level will be vigorously defended. I thought that to be the critical area before massive margin calls and the beginnings of a short squeeze triggering higher prices and a massive cascade of sequential short squeezes. We will have to see how this all plays out. Still, today could get "interesting".
Black Blade
(5/28/02; 06:38:56MT - usagold.com msg#: 76756)
When fear strikes, go for gold
http://economictimes.indiatimes.com/articleshow.asp?art_id=11090130&sType=1
Snippit:
Gold is among the safest haven for your funds in times of uncertainty. In war like situations, the yellow metal provides the perfect hedge against risk as well as inflation. Although cash is the king in such times, gold offers an opportunity for gains. Gold is better than cash in as local currencies can lose value rapidly in the event of a war and the resultant inflation. Gold, however, retains its value.
Black Blade: The threat of war grows more serious each passing day in Central Asia. Two nuclear powers threaten to go it "toe to toe".
Gold suddenly reverses at the NY open (though still positive) as investors grap at straws. Personal spending data just released showing minisucle +0.5% and income up a miniscule 0.3%. Meanwhile the US Dollar is looking sick this morning and sub 112 looks possible. Could be an "interesting" day on Wall Street as there is little news worthy of moving the markets.
Black Blade
(5/28/02; 04:18:27MT - usagold.com msg#: 76755)
Barrick-Placer Rumor
I don't know the gory details yet, but there is a "rumor" floating about a possible takeover battle brewing for Aussie Gold miner AurionGold by both Barrick and Placer Dome. Could we see a replay of the Newmont/Franco vs. AngoGold battle? Placer had already bid on AurionGold and had made that announcement this weekend. This is interesting as all three companies are extremely over hedged. I had referred to this takeover as "two drowning men climbing over one another to get out of the water". Maybe we should make that "three drowning men". We will have to keep an eye out for what may develop here.
- Black Blade
Topaz
(5/28/02; 04:13:58MT - usagold.com msg#: 76754)
YGM - G Bear.
...and the worrying thing is the $ index is hovering just above it's pre-911 level and looking sick.
Topaz
(5/28/02; 04:02:17MT - usagold.com msg#: 76753)
Bugger!
Click Palladium and tick the last 5 yr's.
Topaz
(5/28/02; 03:59:23MT - usagold.com msg#: 76752)
A "freepalladium" chart
http://www.kitco.com/scripts/hist_charts/yearly_graphs.cgi
Heres a good example of a "freemarket" commodity precious metal as it goes about price discovery in consert with the expectations of global usage....Recent top - Jan '01= $1100....recent bottom - NOW!! ish.
Black Blade
(5/28/02; 03:58:24MT - usagold.com msg#: 76751)
Tokyo stocks close down, dollar slips against yen
http://biz.yahoo.com/ap/020528/japan_markets_3.html
Snippit:
TOKYO (AP) -- Tokyo stocks closed lower Tuesday, as investors sold select technology and retailer shares to pocket profits in the absence of foreign investors. The U.S. dollar was lower against the yen.
In currency dealings, the dollar was weaker against the yen, but was held to a narrow range by warnings from Japanese authorities about possible market intervention, traders said. Japanese Finance Minister Masajuro Shiokawa on Tuesday told reporters: "More fluctuations are likely, but we will be carefully watching the movements of the market." Japanese finance officials worry about a higher yen because its makes Japanese exports more expensive abroad and thus less competitive. They say a lower yen would help the nation's economy recover from a long slowdown.
Black Blade: Of course, US manufacturers have the same worries – so the race is on. Since the Tokyo close, the USD has fallen hard and looks to close in under 112 soon.
Golden Bear
(5/28/02; 03:57:10MT - usagold.com msg#: 76750)
YGM (msg#: 76739) From The Wilderness...Michael Ruppert
Thanks YGM, for posting the previous interview and reposting this link!
I have posted it a few times in the past, but I think it may have been a bit too raw after 9/11...., now the truth about the PTB and what they will do to stay in power can be fathomed by the majority.
Who knows, may be the beginnings of an uprising of the masses if/when this information spreads widely.
By the way, Mike Ruppert was about to go on air for an interview on Fox News, and was cancelled last minute, a hasty phone call to Fox no doubt...
Cheers.
goldenpeace
(5/28/02; 03:52:15MT - usagold.com msg#: 76749)
Contest:$$$$$$$$327.7$$$$$$$
As more investors "wake UP!" to gold amidst the chaos that is the $, the Dow, and the Indian subcontinent, GOLD commences another lift off.
Black Blade
(5/28/02; 03:42:09MT - usagold.com msg#: 76748)
Re: Topaz
Actually I'm Leo (a day after Cancer), whatever that means. I didn't even consider futures contracts in that discussion, but yes, profit is the overriding motive. I was referring to a manufacturing company's shares. A good plan for many who cannot afford large Gold purchases would be to slowing acquire physical a bit at a time (dollar cost averaging?) and build a supply of Gold. A nice insurance policy. Cheers!
- Black Blade
Black Blade
(5/28/02; 03:31:14MT - usagold.com msg#: 76747)
USD Getting Thrashed and Gold Rises
http://www.mrci.com/qpnight.asp
The US Dollar is getting hammered tonight against the worlds major currencies. Meanwhile Gold is rising in response. A weakening US Dollar is essential (as per last nights post). If the US is to ever pull out of the deepening global recession and compete for a shrinking piece of the Global pie then the US Dollar must weaken.
The effect on the price of Gold is obvious. Because Gold is priced in US Dollars we can assume that Gold will run higher. Many have pointed out that the US Dollar is extremely overvalued and in the current weak economy a weaker US Dollar is desired by manufacturers to compete with imported goods and mak US exports competetive overseas.
Note that oil and natural gas are weaker tonight on very weak economic conditions worldwide. Lower demand for energy from manufacturers may be a God send to the world as a devastating energy crisis may be partly avoided. So thankfully we have a deepening recession. In the meantime it is very important that the US develop its energy supply and energy infrastructure while we have the opportunity.
As always, get out of debt, stash away enough cash for a few months expenses, get Gold and Silver portfolio insurance, and get a storage program of nonperishable food and basic necessities started. Prepare for the worst and hope for the best.
- Black Blade
Topaz
(5/28/02; 03:13:02MT - usagold.com msg#: 76746)
Birthday "Futures" and Paper-v-Phisical
Hey BB, I see you're in the business of writing Futures contracts on your Birthday....whats the expiry date? A fellow Cancerian I'll vouch ;-)
If one engages in paper trades, the motivation is to profit thereby in currency terms...and good luck to you! The underlying asset is irrelevant...Gold, Hogs, Wheat, Lumber...it doesn't matter...what matters is the "PROFIT"...and after taxes, banking/brokerage fees.. and inflation grab their share, you might well be ahead of the curve.... otoh to acquire a horde of Bullion (as BB so well points out) takes you out of that realm entirely and allows the holder to snub his/her nose at the "system" which supports, manipulates, preys upon, deludes and connives to reduce your profit in the first option..to ZILCH!! ....preservation-peace of mind- and profit...lastly.
Really an "Oranges and Apples" issue...No?
Black Blade
(5/28/02; 03:06:44MT - usagold.com msg#: 76745)
Call for more nuclear power stations
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1021990913444&p=1012571727159
Snippit:
Britain will be unable to meet its tough climate change targets without building more nuclear power stations, the country's biggest manufacturing union will warn today. Sir Ken Jackson, joint general secretary of Amicus, said: "If this government is committed to meeting its Kyoto targets it must rebuild Britain's nuclear power industry." His comments mirror a warning last month from Professor David King, the government's chief scientist, who said new nuclear plants were essential for Britain to reduce its dependence on fossil fuels.
Sir Ken said: "If we don't invest in nuclear power we will be forced to rely on unstable oil and gas imports. That could push up prices for consumers and it will surely mean we are unable to meet our Kyoto obligations. If the government and the industry work together we can come up with a safety framework that will win the public's confidence."
Black Blade: It would appear that Europe is going nuclear! First Finland approves a new reactor and now there are calls for the UK to do the same. It's to meet the Kyoto targets ya know. The writing is on the wall and even the UK with its North Sea oil knows that they face a coming energy crisis. The North Sea oil field has peaked and gone into decline. The rest of Europe is sure to follow up with additional nuclear reactor construction.
Belgian
(5/28/02; 02:35:16MT - usagold.com msg#: 76744)
What's the difference between India/Pakistan and Irak....?
Both, India and Pakistan have weapons of mass destruction.
Pakistan has been bombarded as a new ally to the US, with a 180° turn. WAT-troops (intelligence) are based in Pakistan and risk to become victims of war in the recent hostilities, seemingly escalating. Can someone explain the complete different approach (double standard) of the US to Pakistan (Taliban supporter) and Iraq ? Is the flaring up of the Kashmir dispute (Taliban instigated) an excellent postponer for the Iraqi invasion ? Thanks.
Bright sunshine and excellent weather for gardening.
Graefin
(5/28/02; 02:27:21MT - usagold.com msg#: 76743)
Hey Black Blade...
Nice party yesterday!!!!!
Belgian
(5/28/02; 02:18:12MT - usagold.com msg#: 76742)
GOLD : Immunity to default (Aristoteles)
I've lived (invested/speculated) through that wild period of the eighties, were POG raced to 850$ and all stocks were a steal. It was a period, sharply contrasting with the present. Interest rates at 14%/15%/16% and the media were singing...closer to you, my God !
It was a time where I didn't dare to tell my relatives that I've been buying shares on the stockmarket ! The classic compassionate answer was ....you surely don't remember what happened during the 1929 crash !? You will loose all your savings, stupid fool (me) !
Today, it is exactly the same ambiance, but on the complacent positive side of the equation. Heavenly paper ...worthless Gold and storms only happen in far away desert islands, forgotten in the middle of nowhere.
Soooooo much reluctance and strong aversion towards any thesis (fundamentals) of a very high priced Valuable, Precious yellow !!!-??? An amalgame of arguments is brought forward as to "WHY" it can't be that Gold could multiply its price by 10 or 20 and more ! A very strange attitude, indeed ? Or not ? The Argentine syndrome ...
Argentinians didn't have or bought any Gold, because they were masterly lured into the false security of the US$, within foreign (US) banks. Fully secured, safe and sound !?
They were "diverted" away from the ultimate life-saver and insurance. When the "system" crashed...they couldn't even stampede to Gold, due to a watertight bloccade of their assets. THE PERFECT TRAP !!!
This is exactly what the financial brotherhood and their collective brothers in arms (political elite) have been working on since 1980 and beyond. Setting up / constructing, (almost) "perfect" TRAPS ! Stockmarkets multipled by 10 during the past 20 years ! POG did NOT decimate in proportion ! The trap seems to have a minor little construction error ?
Millions of individuals willingly wolonteer to hand over their savings for investment in enterprises that are maniacally valued at insane multiples of their turn over.
In 1980, they refused stubbornly to pay 1/2 the real and conservative bookvalue of very sound companies ! All these extremes within one (1) generation (=25 years).
But optimistic POG projections (600$) rarely go beyond a doubling of the present 320$ ! Pauze and take a deep breath.
...
TG already mentioned the analogy between 1980 and now. Holding Physical Gold today is the same smart move as was holding rockbottom priced, solid companies in 1980. Emphasis on *** HOLDING ****, throught thick and thin...far beyond the intermidiate arbitrary target of 600$ per ounce.
I made the "sold too early", mistake in 1980 with my first savings and regretted this all the way up. Was condemned to jumping in and out as a chicken without a head.
Que sera, sera...whatever will be, will be.
Black Blade
(5/28/02; 02:04:11MT - usagold.com msg#: 76741)
J.P. Morgan management shake-up
http://www.msnbc.com/news/756803.asp?0si
Snippit:
NEW YORK, May 24 — J.P. Morgan Chase & Co., scarred by a series of financial-industry setbacks, announced a shake-up of its top ranks that included the departure of its highest-profile investment banker and the reassignment of other top managers.
Black Blade: JP Morgan Chase is the subject of offshore investments involving Enron. The rumor is that their Gold derivative book has blown up. As a result several managers and employees have been "allowed" to "pursue other interests".
Black Blade
(5/28/02; 01:47:21MT - usagold.com msg#: 76740)
China debt 'six times official figure'
http://news.bbc.co.uk/hi/english/business/newsid_2010000/2010642.stm
Snippit:
China's public debt could be up to six times higher than the official government figure, according to a study by the Hong Kong arm of investment bank Credit Lyonnais.
The report puts China's debt at almost 140% of gross domestic product (GDP), compared with a government figure of just 23%.
Black Blade: Just wait until Gold investment in China is available to all Chinese citizens. With more news like this we could see a "Chinese Gold Rush".
YGM
(5/28/02; 01:33:22MT - usagold.com msg#: 76739)
From The Wilderness...Michael Ruppert
http://www.copvcia.com/
No Comment.....You be the Judge!
Black Blade
(5/28/02; 01:28:16MT - usagold.com msg#: 76738)
Musharraf speech infuriates India
http://www.timesonline.co.uk/article/0,,3-309869,00.html
Snippit:
PAKISTAN’S military ruler broadcast a defiant message to India last night, raising tensions in the sub-continent yet again. Pakistan would not start a conflict but would "respond with full might", President Musharraf declared in a veiled threat to use his country's nuclear weapons. Delhi responded with anger and dismay. The speech was "an act of belligerence", Omar Abdullah, India's junior Foreign Minister, told The Times. Pakistani military experts said the President's stance was motivated by fear of a revolt from his army if he conceded an inch on the divided Himalayan state of Kashmir.
Black Blade: Definitely, we do live in "Interesting Times".
YGM
(5/28/02; 01:09:52MT - usagold.com msg#: 76737)
DON'T KNOW THE SCOOP ON THIS...Just picked it up @ GE
http://www.guerrillanews.com/counter_intel/boom_bust_echo/
THIS DEFINATELY NEEDS A READ....I'm off to do just that..YGM
EXCERPT:........................
Stephen Marshall: Hello Mike. First question I guess… what was your initial reaction to the images being broadcast from New York on Tuesday and what were your first thoughts regarding the coverage.
Michael Ruppert: From the moment it happened we began hearing the name Osama bin Laden and there is an enormous body of evidence building already that Osama bin Laden is not and was not capable of pulling this off by himself. Period.
Historically, it is extremely well documented that Osama bin Laden is and was a creation of the Central Intelligence Agency in the 1980's when he joined with Mujahedeen Freedom fighters in Afghanistan. He worked with Gulbadin Hekmatyar who was running six heroin factories under CIA protection in Pakistan and Afghanistan. As recently as 1996, the U.S. government had secret agreements with the government of Sudan to allow him sanctuary there for the purposes of monitoring him. In 1997-1998 after the cruise missile attacks on the El Shifa pharmaceutical factory, which were absolute disasters for the U.S. because no weapons were made there. The U.S. intelligence community had ample ability to know and to track his movements. I have just learned that from 1998, Reuters is reporting, that a green light was given for covert operations against bin Laden and when you couple this with the fact that we know now, from European reports from Germany, France and Israel, that advance warning had been given to the U.S. government of an imminent attack, the current U.S. government position on this is really not sustainable.
So let me get this straight. Because you have been really clear in our past conversations about the murky world of intelligence communities and the whole business of war. And you have discussed the fact that there is always some group or faction that benefits directly from an armed conflict. But are you saying that, even in this case, with the horrific damage done not only to the financial center of New York and the United States, but also to the psychological well-being of the American population, that some faction of the U.S. government had foreknowledge of these attacks?
I absolutely believe, at this moment, that the United States government had foreknowledge of the attacks and allowed them to occur.
OK. So then please explain who would have directly benefited from his tragedy and how will the ensuing domino effect of military escalation play into the hands or interests of those people?
First of all, just two days before the attack, on September 9, I issued an urgent bulletin to all of my subscribers indicating a pending economic collapse of unbelievable proportions. Based upon what I had already predicted and what was already occurring, a rapid deflation of the Dow, having lost 900 points in three weeks before the attack. And two other factors, one of which is an artificially suppressed gold price which is, according to a suit filed in Boston by GATA - the Gold Anti-Trust Action Committee - a design by the U.S. Treasury and major banks to keep gold prices low so that investor confidence would stay high but also because gold, physical gold, had been leveraged forward in multiples to an amount many times greater on paper than there is gold in actual existence. This is a suit that was threatening to come to the surface. Historically, investor confidence is gauged, is pegged to gold because if gold prices remain low, investors will assume no inflation and healthy markets. The minute gold prices rise, investor confidence sinks. And this has been an artificial ploy by the U.S. government which surfaced actually and was exposed in 1998 with the collapse of a company called Long Term Capital Management which almost toppled the U.S. economy and forced the Federal Reserve and the U.S. Treasury to intervene, exposing artificial manipulation of gold prices.
The second economic bomb that was ready to go off and which I warned about on Sept 9 was a 30 trillion dollar derivatives bubble spearheaded by JP Morgan-Chase (JPM) and 30 trillion would have collapsed the economy. Basically, the simplest form of derivative is a stock option where you can buy an option to purchase a share of stock trading at $80 for $1 and you can tie up trillions of dollars with little amounts of money. But if the economy fails you then become liable for the trillions of dollars that you have tied up. Excellent posts on this issue were placed at a website called lemetropolecafe.com that I strongly recommend people look at. And what I had said on September 9 was, 'look, this is going down and we're all going to burn.' And that was two days before the attack.
Now, given the fact that the economic indicators were for a recession, if not depression, by the end of October (for which the US government and Wall Street would have had to have taken responsibility), the now certain global recession that will follow the World Trade Center attacks, now has someone convenient to blame it on.
Cont'd @ Link....
YGM
(5/28/02; 00:56:54MT - usagold.com msg#: 76736)
The last 18 hrs in and out of here (Castle Hall)
Prove it!
The best damn bunch of tolerant, helpful, knowledgable, concerned, polite,(usually :>}, survival minded, truth seeking, sharing, caring bunch of Goldbirds around......
PS: BB>>>your BDay is paid up for 14 months bro....Til the next one...................................
Lets hope the world is in one piece and Gold is just $1K
by then, that'd be just right....$68.00 for Glowing Gold!
Black Blade
(5/28/02; 00:29:44MT - usagold.com msg#: 76735)
Welcome Brahms
It is good to see the "Down Under" population growing here. We have you, Topaz, Zenidea, Golden Bear, OZ, DOWNUNDER, etc. We used to have Andrew the Kiwi I believe (if you all count NZ part of the "down under" family.
Welcome aboard!
- Black Blade
BTW, I still have a couple of friends at Auckland University and in Adelaide. I do hope to someday come back for a visit.
Brahms
(5/28/02; 00:16:44MT - usagold.com msg#: 76734)
Gold Downunder
$$$$330.3$$$$
Greetings from a lurker downunder. Here gold is not going up! The NZ dollar is outperforming every other currency in the world. I am still invested in Au to the hilt though.
Black Blade
(5/28/02; 00:11:02MT - usagold.com msg#: 76733)
Physical vs. Paper
This is an interesting debate. I have thought about this subject for quite some time. I have about 35% of my portfolio in physical Gold and Silver and it would have perhaps been a bit more, however, my paper investments have done quite well. I do know that this is not anywhere close to the norm in today's investment environment. Gold mining shares tend to front run physical Gold prices. Since the POG has not kept up with the frenzied pace of the mining shares, it would stand to reason the price of physical Gold should move much higher. In other words, this Gold Bull has a long way to run.
I view my physical Gold as a hard asset that I will carry through thick and thin. It is after all the ultimate insurance that has no claim on it by outside forces. I think back to those people who had to bribe the border guards to seek a new life outside communist domination, those who brought their way out of a one way ticket to Auschwitz, those who watched their life savings vaporize in the Weimar Republic, those who had Gold during the LatAm (Brazil, Mexico, etc.) currency blowup, those who survived the Asian Contagion with their savings intact, those who are now suffering in Argentina, and those who will suffer in Japan. Gold is the ultimate insurance, it is anonymous and it can be passed along without outside consideration.
Paper assets are for the here and now. Stock is a "deed" of ownership if you will. You and many others have a right to a piece of a company with each share of stock. Stock is only worth what others are willing to pay for it. Stock investing is a speculative game and should not be played with cash that is needed for survival. In short it is a bet on the future direction of a company and the underlying asset. Of course bonds are dependent on the quality of debt by the issuer. Some even tout US government bonds as a safe haven investment. However, not long ago Fed Chairman Alan Greenspan stated before the Senate Banking Committee that Gold was the "ultimate currency". He did not mention stocks or bonds – he specifically mentioned Gold.
There are also other hard assets such as gemstones and real estate. If you are not an expert in gemstones – stay away! If you are not an expert in the four C's (Cut, Clarity, Color, and Carat) - stay away from diamonds. These are fields best suited for experts in that field. It is also very easy for the uninitiated to be taken to the cleaners. It is true that one could hold several million dollars worth of diamonds in the palm of their hand, but again this is not for the majority of people. I have been fortunate enough to know some people in the gem business and was able to obtain a nice selection of rubies, sapphires, zircon, emeralds, opals, etc. However, these are more of a curiosity as specimen samples and not as easily utilized as something identifiable and tradable as Physical Gold!
Real estate is a very good asset to have as well. Though I do not have ownership of a physical residence (due to the nature of my work), one could do well to have real estate fully paid for. OK, I do have some land in the high country. The one downside of real estate is that you cannot transport real estate as easy as Gold. If one were to need to relocate in a hurry, it is easy to grab a stash of Gold and move on. Gold is also easily hidden and is generally undetectable. There usually is no paper trail. I would always suggest outright ownership. Even without a mortgage and with deed in hand, one is still just renting land/property from the local government. I consider property taxes a form of rent (just stop paying those taxes and see how long you really "own it"). No taxes need be paid on Gold ownership.
I was fortunate enough to make several Gold purchases from miners in Nevada over the last few years. I sold my services to the Gold mines and I would let it be known that I would purchase all PM awards. The Gold mining companies give out Gold and Silver medallions as safety and attendance awards. Fortunately some miners would sell me their Gold and Silver awards for beer money I guess (probably before the wives found out). I have many one ounce medallions, half ounce medallions, and various sizes of JM wafers from Barrick, Placer Dome, Echo Bay, Minorco, Sterling Mine, etc. Since then I have made purchases of Gold, Silver, and Platinum (yes even from USAGOLD).
I watch world events unfold with threats of war in Central Asia, violence in the Middle East, the possibility of much more terrorist activity worldwide, the weakening US Dollar, the deepening Global Recession, corporate scandals galore, phoney baloney accounting, loss of confidence in Wall Street, Argentine and Japanese banking crises, a new looming energy crisis, government squabbling and corruption, etc. If any one of these threats come into full view, I will feel a bit easier knowing that I have physical Gold on hand. In short - I have my investment portfolio insured.
Hey, who knows, I just may have to bribe a border guard or two.
- Black Blade
ViewYesterday's Discussion.
Permission
to reprint is hereby granted where the USAGOLD name is cited along
with our web address, mailing address and phone number. For electronic
reproductions, citing the post heading and the http://www.usagold.com/cpmforum/
website address as the source is sufficient.
Centennial Precious Metals
Gold
coins & bullion since 1973
P.O.
Box 460009
Denver, Colorado 80246-0009
We educate first-time investors!
|
We
invite you to contact our trading desk
for quotes and purchase information.
6:00am
to 6:00pm MtnTime; Mon-Fri
admin@usagold.com
|
Remember: It's your purchase
of gold from USAGOLD-Centennial Precious Metals that nourishes
these pages
USAGOLD Rated A+
Saturday March 20
website support: sitemaster@usagold.com
site map - privacy policy
The USAGOLD logo and stylized gold coin pile are trademarks of
Michael J. Kosares.
© 1997-2010 Michael J. Kosares / USAGOLD All Rights Reserved
