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Welcome to the USAGOLD Gold Discussion Archives. The archives of this gold discussion forum are a treasure trove of information to educate investors about protecting their wealth through portfolio diversification with private gold ownership. The discussion forum also covers the wider issues of the past, present, and future role of gold in international monetary policy and the dynamics of the modern gold markets...

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ARCHIVED DISCUSSION FROM 6/28/2003
All times are U.S. Mountain Time

(Yesterday's Discussion.)

21mabry (06/28/03; 22:48:17MT - usagold.com msg#: 105191)
(No Subject)
An article I read about a 1744 expedition of a British fleet under a commodore Anson sent to raid the Spanish possesions in the new world was somewhat perplexing to me. The mission was a success 1,313,843 pieces of eight were siezed along with 35,682 ounces of virgin silver.The British were joyful and the crowds in London lined the streets to see the 33 wagon loads make its way to the tower of london.The thing that struck me was how much more valuable silver must have been at this time.This expedition was a large expense to the crown and the silver haul to me was large but on a national scale it did not seem like alot just over 1 million ounces.Therefor I assume silvers value was far greater then.21

Mr Gresham (06/28/03; 21:58:04MT - usagold.com msg#: 105190)
Sinclair clarifies some of my wonderings about bond market dynamics
http://www.jsmineset.com/s/Home.asp
More from the link Silvercollector provided below:

"The Fed buys all and every bond offered from very short to very long which results in a ballistic upward rate in the creation of money thereby ballistically increasing the amount of money in circulation. The dollar goes to .7200 or lower. Then, as a result of the collapse in the value of the US dollar, the Fed would have to buy every long bond it ever issued because only a mindless economic idiot would want to hold a 30 year US government bond and watch the value of it in terms of their currency simply disappear off the face of the earth. Therefore, this foolishness could be a strategy that as you buy all the bonds offered you cause more bonds to be offered.

"If you wanted to bankrupt the United States in 90 days, that is the way to do it and this is the way the Chairman of the Federal Reserve apparently plans to do it.

"May 25, 2003

"The Fed makes a horrible error, showing its hand to the market public. All the Fed has in its hand is a pair of deuces so Japan raises the bet and calls the Fed. The Fed folds.

"In any bull bond market, if you are perceived to be the holder of all the aces as the Fed was then, you cannot fail to perform - EVER. The Fed bought no bonds to speak of last week and dropped the ball hard and publicly. The minute you show any weakness you are dead. The opposite side of your market -- those who perceive (correctly?) that you don't have the financial ability to continue your long or short play - will simply and without mercy bury you alive."

Cards on the table; read 'em and weep.

Druid (06/28/03; 19:45:35MT - usagold.com msg#: 105189)
Doh!
http://www.bis.org/index.htm
Druid: An interesting link for interesting perspectives.

The Invisible Hand (06/28/03; 19:15:37MT - usagold.com msg#: 105188)
Greenspan said last week ...
http://observer.guardian.co.uk/business/story/0,6903,987040,00.html
SNIP
... that the world's most important central bank was more concerned about inflation than deflation
Since this message coincided with surprise among some financial market analysts and traders that the cut in rates had not been a half percentage point, this interpretation had a certain plausibility.
...
(At the Society of Business Economists' annual conference in London last week Professor Tim) Congdon (see also http://www.usagold.com/gildedopinion/Congdon.html) made the important historical point that whereas the deflation of the Thirties was associated with serious banking failures in the US, at present 'US banks have some bad debts, but their capital position and profits are good'.
He added: 'The fact of the matter is that the brunt of the losses associated with the collapse of the new technology bubble was absorbed by the equity market, not the banks.'

R Powell (06/28/03; 18:54:16MT - usagold.com msg#: 105187)
Belgian
Your words.....

"Without free speach on the net, I would never even have suspected anything financialy lifethreathening."

My thoughts... Amen, brother, amen

silvercollector (06/28/03; 18:46:23MT - usagold.com msg#: 105186)
Red Alert! Sinclair offers opinion on the bond market nonsense.
http://www.jsmineset.com/s/Home.asp
"April 2003

The Long Bond begins to break the long-standing inverse relationship with the equities market. This relationship was initiated by the flight of capital out of equities and into bonds. As the stock market rose, bonds retreated. As the equities market fell, bonds appreciated. What is it that the establishment investment bank political insiders know is coming that caused this relationship to change?"

R Powell (06/28/03; 18:46:16MT - usagold.com msg#: 105185)
Welcome spotlight
In post 105176 you wrote......

"I have been in gold and silver since 1968. I wrote an economic column for a financial newsletter stressing gold purchases in the 1970s."

You also mentioned exchanging some perhaps depreciating dollars for an investment in a solid gold mining company. Even though most here would not agree with me (or at least will not say so), I believe paper money and paper investments will continue to exist even if the world does suffer through some severe currency upheavals. I don't believe we will revert to a moneyless society nor will "all paper burn". This is NOT to say physical gold and silver are not an excellent protection against a depreciating fiat currency. This is to say that imho there have been, are and will continue to be other venues for good investments.

As for what those specific investments might be, I don't pretend to know and will agree that such opinions are discouraged here. Being a paper trader, I'm always acutely aware of forum policy limitations. However, with your years of involvement in both the gold and silver markets, I would dearly love to hear your present thoughts on both, especially silver as silver intrigues me to no end.

The basic puzzle presented by the silver market is why the price of silver stagnates year after year while demand has steadfastly exceeded total supply year after year. Now some claim that the downdraw has left existing supplies at what may soon be a critically low level.
I'm invested in both physical and paper silver. Can you offer any thoughts??
Thanks
Rich

silvercollector (06/28/03; 18:38:48MT - usagold.com msg#: 105184)
TC
Thanks for the abundant stats. on the China situation. I remember seeing some of them and to be completely frank I forgot them because they didn't excite me.

For example, daily trading on the SGE is a tonne of physical. Now is this a tonne bought and sold resulting in a 'net zero sum game', on eof thos eshell games resulting in no new offtake?

GFMS estimates 220 tonnes per annum but it is producing 190 (2002 estimate), is 30 net tonnes imported huge?

The PBOC is contractually obligated to accept a minimum of 15 tonnes a year, too bad it wasn't much, much more.

The PBOC increased holdings from 500 to 600 tonnes 4Q02. How disappointing considering the US with some 8400 tonnes and the EU with more than 12,000 tonnes.

Let's see the PBOC commit to 250 tonnes a quarter for the next 5 years!!!!!

Thanks again for the note.

Druid (06/28/03; 17:59:14MT - usagold.com msg#: 105183)
Belgian (06/28/03; 16:41:56MT - usagold.com msg#: 105182)
http://www.gold-eagle.com/editorials_03/lewis062603.html
"It does indeed, take a lot of study from different view points, to conclude that the turbulences of the past 3 decades are rushing to a kind of Grand finale. One cannot expect that young, hardworking, family folks have time to spend on these kind of studies. Nevertheless, they sometimes come up with good arguments for the status quo opinion. They often demand hard evidence for the Gold theories that we communicate. Thought provoking and it keeps us from becoming too sure about our Gold case."

Druid: I think different view points is key to understanding, otherwise you get caught up in your own dogma. You might enjoy the read from Lewis. His ability to integrate "Phaedrus" into the monetary discussion was a true work of literary art. This is one of the best books I have ever read. I highly recommend it.

Belgian (06/28/03; 16:41:56MT - usagold.com msg#: 105182)
Hoi Druid
Most probably, Gold's historical revaluation will happen within this 2000-2010 decade.
I've been reading Henry C K Liu's essay on Japan (Atimes).
Amazing how they are so desperately, deep entangled in their rigid structures.
Euroland, the whole Asian block, the Middle East and the Americas are changing-evolving, very rapidly.

It does indeed, take a lot of study from different view points, to conclude that the turbulences of the past 3 decades are rushing to a kind of Grand finale. One cannot expect that young, hardworking, family folks have time to spend on these kind of studies. Nevertheless, they sometimes come up with good arguments for the status quo opinion. They often demand hard evidence for the Gold theories that we communicate. Thought provoking and it keeps us from becoming too sure about our Gold case.

But facts-evidences are so pluri-interpretable, that one must remain cautious with unflexible conclusions. So, don't blame your colleges/friends for des-interest in the global happenings.

It is only now that I realise how a BBC-World for instance is producing so much blatant daily lies and deceptions (truth distortions). Don't know if this was the case when I was much more naive than today ?

When reading A.Fekete's latest ( at Puplava's), I suddenly understood more clearly WHY such enormous, all embracing, Interventions are *** needed *** and have been taking place, crescendo for already quite some time ! Idem dito for the BoJ's interventions on the Nikkei and Japanese bank sector. These interventions are NOT of a temporary supportive nature but rather a desperate underpinning of cripling systems.

Without free speach on the net, I would never even have suspected anything financialy lifethreathening.

Topaz (06/28/03; 15:37:23MT - usagold.com msg#: 105181)
@mikal
I don't think I'm a cronic predictor mikal, nor do I post stuff just to be contrary. The Forum almost exclusively focuses on a $Gold price explosion via a weakening Dollar and I just don't see it! Where I'm able, I try and present an alternative argument for Physical Gold ownership non-reliant on said Dollar weakness. My position hasn't changed for a couple of Yr's now. If this is offensive to you Sir, I'm sorry...but I'll still keep plugging away and let the future decide the merits thereof.

cheers mikal.

21mabry (06/28/03; 15:22:26MT - usagold.com msg#: 105180)
Spotlight
You seem like you have a goodly amount of physical you could be set. Someone posted earlier about society taking a dim view of gold investors when paper markets tank.Its been that way throughout history.In John Laws France those who held bullion were considered criminals,it will be that way again, when goverments cant control someone they brand them outlaw and renegade their psych ops go to work on the public opinion.Call your enemy what you are will be their motto.

Druid (06/28/03; 15:11:05MT - usagold.com msg#: 105179)
Belgian (6/28/03; 01:56:44MT - usagold.com msg#: 105163
Belgian,

If I'm not mistaken, I believe "ANOTHER" suggested and I'm paraphrasing that the 90's would be the time to accumulate the physical, 2000 to 2005 would be the time to watch the currency dstruction take place, and after 2005, it would be time to spend some of the wealth on items at bargain rate prices. In my book, events are on schedule.

Trying to explain the concepts of approaching infinity(dollars), scarcity(Gold) and Choice(set of decisions) to the average college graduate much less investor is a major undertaking at best, a near impossibility at worst. I quit doing this because people began turning on me and I realized that most people have difficulty injecting reality into the "American Dream." If it's not on tv it must not be true. Always read the warning label when dosing out the red pill, it's an interesting phenomena watching a human neural network short circuit before your eyes as he or she approaches reality. Gold, not a bad choice.

USAGOLD / Centennial Precious Metals, Inc. (06/28/03; 14:42:47MT - usagold.com msg#: 105178)
How to protect your wealth through private gold ownership -- a complete guide for $5.95
http://www.usagold.com/cpm/abcs.html

The ABCs of Gold Investing

"If you are looking for thorough guidelines for making good decisions about private gold ownership, The ABCs of Gold Investing has all the answers." --Money World Magazine
Please Remember: It is your purchase from USAGOLD - Centennial Precious Metals that nourishes these pages.

TownCrier (06/28/03; 14:22:12MT - usagold.com msg#: 105177)
Some stats for silvercollector and Ag Mountain
Hello gentlemen. Even in the best of times knowledge is frequently an imperfect thing. And when you try to store it (and later recall it) with an imperfect memory, all sorts of jumbled juxtapositions can happen with your collection of data and events.

I don't know what additional sources you may encountered and have in mind for the facts and figures of Chinese gold inflow, but here is some hard data that I have at hand to help you sort this out or bridge some of the gaps in the rusty synapses.

The new Shanghai Gold Exchange is doing physical volume on the order of nearly 1 tonne per day. Trading activity at the Hong Kong Exchange is closer to an average of 0.75 tonnes per day.

Gold Field Mineral Services estimates net Chinese gold demand per annum at 220 tonnes.

The October 2002 launch of the SGE opened the way for the People's Bank of China to no longer be the sole purchaser of gold production from the domestic mining sector, and also to step away from its role as the sole Chinese importer of international gold.

Back in November 2001 the Chinese Government's State Trade Commission announced plans to boost domestic gold mine production through 2005 by 5% each year. Production in 2000 was reported at 162 tonnes, and by one year later 2001 production weighed in at 182 tonnes (better than 10% improvement) with 190 tonnes projected for 2002.

Prior to all of that, in June 2000 the World Gold Council reported the following on the PBOC's activity as importer in addition to domestic purchaser: "Investec, the South African investment bank, has signed an agreement to provide the People's Bank of China with a consignment stock of approximately one tonne of gold every three weeks. The agreement, which is for an unlimited period of time, will provide for Investec shipping a minimum 15 tonnes of gold to China each year."

Meanwhile, news from the Big Vault in January of this year (2003) had some industry people buzzing as the Chinese central bank reported that during the three month course of the fourth quarter of 2002 its officially claimed gold reserves were increased by 100 tonnes, from 500 tonnes to 600 tonnes.

I hope these refreshments have all been helpful in one way or another.

R.

spotlight (06/28/03; 14:02:02MT - usagold.com msg#: 105176)
Convertible bonds isued by gold mining companies

Boilermaker:
Wrote,
Since no one has answered your request here is my advice;
This forum does not get into specific mining stock appraisal or recommendations. This is a courtesy to our gracious host who is in the business of selling the real (hard) stuff. If you want to learn about the case for gold this is the place to be. If you want specific advice on various forms of paper gold investments you should visit another forum.
Cheers and good luck
Boilermaker
************************************************************
Boilermaker:
I have been in gold and silver since 1968. I wrote an economic column for a financial newsletter stressing gold purchases in the 1970s.
I sold bags of silver for a dealer when silver was $1.42 per Oz. I am now 82 years of age. I have 80% of my life savings in gold. I would like to get out of my depreciating dollar savings. I thought it would be a good idea to both protect my cash and support a worthy gold producer at the same time.
This is my favorite site. I am here because the finest gold minds are here. I am sorry if I offended anyone here.
Thank you for the advice.

CoBra(too) (6/28/03; 10:17:51MT - usagold.com msg#: 105175)
@Cometose - Touche'!
�lso enjoyed two hours of informative and well presented discussion by these scholarly gentlemen. It also was brilliantly conducted by Jim Puplava. One of his best broadcasts ever. ... cb2

mikal (6/28/03; 09:33:48MT - usagold.com msg#: 105174)
@Topaz
Why do you insist on prediction after prediction? Authority derived from models will produce indetectable errors. Why don't you just realize that to err is human, but to really foul up requires a computer? If you consult enough experts, you can confirm any opinion and support any position. Remember the number one rule of capital preservation- never let your attorney know how much money you have. And what of the 2004 election! If voting could change anything, it would be outlawed.

Cometose (6/28/03; 07:14:34MT - usagold.com msg#: 105173)
INTERVIEW w/ Kennedy Gammage, Richard Russell , Tim Wood and Peter Eliades
http://www.financialsense.com
This is a web broadcast of great import on things financial from an auspicious group . These are a group of reknowned financial analysts......THere are things of that are timely that you need to hear as well as an interesting section on GOLD....now available at Jim Pupulva's website....

Belgian (6/28/03; 06:46:41MT - usagold.com msg#: 105172)
An interesting thought from Mogambo guru.....
The perfect organized financial brotherhood has the means (necessary certitudes-guarantees) to speculate, freely, with masses of confetti going *with* the flow of 13 >>> 14 (?) rate cuts and making huge profits on bonds appreciating in prices. Most probably they do this with lended confetti and can therefore turn that confetti-berg in the opposite direction (rising IRs), EXACTLY AT THE RIGHT MOMENT of the general stop and reverse in the IR declines (bond appreciation) !!! Thanks Alan,...eh Sir Greenspan ! I find this obscene. All those small, little savers, who have to "live" from the interest income of their savings.
These people are paying for the organized financial crimes that are taking place.

Not millions but billions of small savers don't know where to run with the confetti-fruit of a lifetime. Indeed, Silvercollector, these people continue to invest (?) in IR bearing financial (non)"products" ! Nobody can convince them to give some attention to the Gold-Alternative.

These masses of these good folks will never come up with the idea that Gold's future might be a very promessing one.
This, because of that main reason of more than 20 years decline in POG, that you mentionned.

The financial brotherhood, informed by the FED (!!!)(yes !!!) is so terrebly complacent about its guarantees, that they can easqely go to extremes on so many subjects !
The only unknown is, how those masses of ordinary folks, around the globe, will react to a rising trend in IRs + price(hyper)inflation !? The coming financial picture will be the complete opposite of the one we have (are) been living for the past 2 decades (since 1980) !!! A very ugly/ugliest picture it will be !

And guess what...TPTB will MOST LIKELY "promote" Gold buying, by then !!!-??? Not for the purpose of giving good/wise advise to the folks, but simply out of pure self-interest. Yes, I do believe there will come a very appropiate moment where people are advised/encouraged to take up Physical Gold into Possession. But NOT AT THESE PRESENT OBSCENE PRICES, of course !!! But at many multiples of the present 345$/298� !

The same is done now with other types of advises : Consume !...Buy price-appreciating houses !...Stockmarkets are constantly bottoming !...Free Markets judge the dollar as, still going strong !...etc...
Yep, free, gratis advise, guidance and encouragement !!!

Since the SM-crash of 1987, the dollar-index, is reaching its bottom-zone of 60-90 range for the SIXTH time !!!
How will the world react if and when the dollar pierces that 15 year bottom-zone ??? I stick to my ABC pattern for the dollar-index from its ATH in 1985 ! The dollar will make lower lows than the previous ones in its C-leg down !
My bet is on 2$ = 1� within the coming decade ! This is going to give GOLD a complete other shining to all those who forgot about the Wealth Asset of ages ! Many will scramble into Gold, unfortunately at much higher multiples of today's price-ranges.

If IRs stay as low for much longer, more and more people will put their confetti into very low yielding bonds out of desperation and lack of alternative choices. They will completely miss the Golden decade. The smarter insiders will, AGAIN, reap all the profits, once the sheeple take their losess in bonds and rush to Gold.

Yep, there is definitely a *financial brotherhood* out there !!! Politicians politics in very centralized power systems, always look firstly after their personal huuuuge profits ! The real world as it is !

And now, back to some divine gardening.

Topaz (6/28/03; 06:22:46MT - usagold.com msg#: 105171)
The Strong Dollar Policy.
Due to the inability of Messers Bush and Snow to define what a SDP is, I thought it timely to humbly offer the following:
In circa 1991 they decided to implement an Index whereby a trade weighted basket of currencies could be compared to the US$ (the Dollar Index) The currently agreed to weightings are as follows:

Euro 57.6

Japan/yen 13.6

UK/pound 11.9

Canada/dollar 9.1

Sweden/krona 4.2

Switzerland/franc 3.6

When it began it's ceaseless meanderings the Dollar was at 100... and currently we find it @ 95.
So, technically, a "strong" Dollar would effectively be "above" 100, Right?
Now, the aforementioned Gents, who incidently are 2 of the 3 most powerful men on the planet, have advocated a "strong" Dollar policy. With an election in the offing, I for one would be VERY loath to disagree with them!

Boilermaker (6/28/03; 05:31:15MT - usagold.com msg#: 105170)
Convertble bonds issued by gold mining companies
spotlight (6/28/03; 04:12:29MT - usagold.com msg#: 105166)
"Anyone:
I would appreciate recommendations of a convertible bond in a
good producing gold ming company."

Since no one has answered your request here is my advice;
This forum does not get into specific mining stock appraisal or recommendations. This is a courtesy to our gracious host who is in the business of selling the real (hard) stuff. If you want to learn about the case for gold this is the place to be. If you want specific advice on various forms of paper gold investments you should visit another forum.
Cheers and good luck
Boilermaker

silvercollector (6/28/03; 05:19:19MT - usagold.com msg#: 105169)
Ag Mountain
Every 2 weeks for how long? In the news, RIGGHHHTTTTTT!

Let's draw up a little analogy for amusement. The U.S. has not audited it's gold for some 25 years, apparently mysterious entities are selling gold in and out (mostly out) to contain the price of gold for a long, long period of time and a multitude of speculation exists whether the 'Cabal' (which includes to a large degree the FED/Treasury) is short 5,000 or 7,000 or 10,000 or 15,000 or 16,000 tonnes of gold.

So we have the entire 'western' hemisphere, the pro-fiat crowd if you will, lying and cheating to the Nth degree on their gold purchases/sales to undermine knowledge and confidence in the gold world and apparently China, perhaps the most secretive country in the world is announcing "in the news" that they are buying 15 tonnes every 2 weeks.

We can't get the 'free world' U.S. central bank to fess up about their gold holdings/purchases/sales/shorting/manipulation/inventory etc. but yet a communist/secretive central bank is announcing "in the news" their intentions/obligations/reactions/ etc. to the planet.

The chances of China accurately reporting its gold habits is the same as me flapping my wings and flying to the moon.

I'm not saying that China is not buying gold, how would I know, and for the same reasoning neither would you.

Take care.

Topaz (6/28/03; 05:03:45MT - usagold.com msg#: 105168)
Sir Belgian.
You will be pleased to know Sire that I have seen the light! Yes I acquired some EURO's on Friday...the folding kind...for an upcoming visit. The first thing I did of course was WASH them...to get rid of all that Coke!! and I suppose you could say it's now Laundered! <wink>

silvercollector (6/28/03; 04:57:11MT - usagold.com msg#: 105167)
Belgium
"To protect your and your children's purchasing-power !"

I'm not sure about that dear friend. That's the reason why investment demand has been non-existant, no? Don't forget, from the eyes of J6P gold has been falling for 20+ years. He heard of his grandfather hoarding the stuff and laughed at the old beggar.

How does one convince the investment crowd, the pre-retiring baby-boomer generation, that protection of purchasing power requires the purchase of gold? How does one convince them that the dollar will die?

I will tell you why I began to buy gold in 1998 and silver in 1999. It became clear to me that the "all-in costs of production" (Franco-Nevada) were more than the spot price. Gold at $250 and silver at $4.00 was impossible for long. I have accumulated impressive amounts of physical of which all was bought sub-$300 and sub-$4.75.

Now I am unclear as to my next move.

Have a golden week-end yourself.

spotlight (6/28/03; 04:12:29MT - usagold.com msg#: 105166)
Convertble bonds issued by gold mining companies
spotlight (6/27/03; 22:16:09MT - usagold.com msg#: 105157)

Anyone:
I would appreciate recommendations of a convertible bond in a
good producing gold ming company.

Topaz (6/28/03; 03:23:32MT - usagold.com msg#: 105165)
Dollar, Bonds and Gold...a Technical perspective.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID346627
I had intended building a similar set of Charts to support what I've been positing these last several Weeks but Lo and behold!...this good Chap has done it for me...needless to say his TA confirms my Empirical A...eh?

Belgian (6/28/03; 02:40:50MT - usagold.com msg#: 105164)
glennh10 #105113....Blaming (demonizing-?) Gold-hoarders !?
Isn't this already happening in some very subtle ways ?
How frustrating, for TPTB, must it be to see that Gold is being accumulated and threathens the dollar's authority, whilst not being able to confiscate Gold (forbid Gold-Hoarding), because of the Free Market myths !?

The financial media have the enormous task to "canalize" all attempts for further growing desire to accumulate more of the same, scarcely available, PHYSICAL Gold !

We simply seem to completely ignore that when a willing anti-dollarreserve-coalalition wanted to erase the reserve-function...that coalition simply has to buy Physical Gold with all excesses of dollar-reserves. But such a "coup" will never happen !!! For pragmatic reasons !!! There must be a 100% waterproof alternative for the dollar-reserve.

And the euro is far from that 100% !!! But the (palace)intriges in the currency palace go on and King Dollar will constantly remain to be challenged.

The E*CENTRAL*B (ECB)'s marking to market of its goldreserves was firstly mis-interpreted by its 12 *National* banks. These National banks thought that they were offered a windfall in Gold reserve-revaluations that could be used for spending ! They had it wrong. The E-Central-B, marking to market was NOT intended for selling off goldreserves. This is another aspect (important one) in the re-evolutions in the currency-palaces of different Central banks and National banks !

Main point is TO KEEP THE PUBLIC OUT OF THIS !!! That's why we enjoy the Deminor-NBB, fight so much, here in lilliputan Belgoland ! It is about what happened (will happen) with the Belgian National goldreserves. What did you do with "our" Gold !!!???

It took me a very long time to understand Gold's utmost Importance ! Now I think to understand "WHY" the general public "must" *** remain *** ignorant about Gold up to a well defined level. Organized deception and I understand, WHY !

The world "MUST" be at a very critical juncture, measured by the efforts that are being made to "cover" Gold !
Are you also that suspicious ?

Belgian (6/28/03; 01:56:44MT - usagold.com msg#: 105163)
@ Silvercollector
Most obvious, compelling reason to buy Gold....
To protect your and your children's purchasing-power !
TPTB wanted/want you, to protect yourself, with anything but Gold. Multiply your "paper" . So you contribute to the economy and your future purchasing capacity will remain a constant. Very nice (old) theory, wich I stopped buying.

Alternatives to paper are other tangibles than Gold. Real estate, land, antiques,...silver...etc !? Much too complicated stuff for me and I'll stick to the straithforward simplicity of Physical GOLD.

Yes, FOA has been flirting (was tempted) to time POG's gigantic revaluation. Does this mean that his entire theory (vision) is worthless ? Don't think so.

That's why I'm always looking to enhance my understanding of Gold and spend the night (one night) with Tim Congdon (USAGold-archives-Gilded Opinion) as to find out what might cause the delay for Gold's revaluation.

In other words...How is the world's attitude towards "our" dollar-reserve, evolving ? Impossible to predict exact year/date/hour of the dollar-reserve's demise. I'm only believing that the "trend" towards that demise is incontournable (inevitable).

BTW, 1 Billion Indians seem to think into that same direction. They are diversifying their dollar-holdings with euro as to do more trade in euro.

Nice weekend for you, Silvercollector.

Ag Mountain (6/28/03; 00:46:27MT - usagold.com msg#: 105162)
Blind silvercollector
"We can't confirm how much silver is coming out of China so why do we need to assume how much gold is going in? We have no numbers on China so why do we pretend to know?"

No need to pretend about 15 tonnes every two weeks when it's been in the news.

Respectfully signed,

A. Joe-er Joe 6-pac than you'll ever Be

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