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ARCHIVED DISCUSSION FROM 12/29/2001
All times are U.S. Mountain Time

(Yesterday's Discussion.)

Waverider (12/29/01; 23:40:13MT - usagold.com msg#: 67454)
SA Commercial Fishing Taxes Set to Soar
http://www.bday.co.za/bday/content/direct/1,3523,995175-6094-0,00.html
Snippits:
*CAPE TOWN Catch levies the tax paid by SA's commercial fishermen to government on every ton of fish they catch are set to soar over the next four years. According to the environmental affairs department, increases in the levies, which currently net government about R40m a year, are necessary because they are too low and out of line with fishing industry returns.

*In the case of hake, the levy is set to rise by almost 274% over the next four years. The department said that in the past catch levies were set at relatively low levels, which "did not correspond with the high value of marine living resources". The department said that new fishing levies would "strengthen government's hand".

*"The department's decision to increase catch levies has been precipitated by its adoption of the user pays principle', according to which the recipients of commercial fishing rights are expected to pay more towards the administration, monitoring and control of the SA fishery."

Waverider: You already know what I'm getting at here...substitute "fishing industry" with "Gold mining industry" and...is this a red flag to anyone else with a vested interest in SA Gold mines? Thoughts? I may be getting closer and closer to realizing the wisdom in getting physical (Gold) exclusively.

Waverider (12/29/01; 22:48:05MT - usagold.com msg#: 67453)
uponroof: Japan Nears Economic Abyss
http://www.japantimes.co.jp/cgi-bin/getarticle.pl5?eo20011228gc.htm
Snippit:
"How much longer do we have to wait before Tokyo begins to realize the obvious -- that Japan's key economic problem is a chronic lack of consumer demand and that cuts in spending are the exact opposite of what is needed? Even an economy as strong as Japan's cannot survive a situation where 1.4 quadrillion yen yen, or $90,000 for every man, woman and child in Japan, is stashed away in personal financial assets."
Waverider: Uponroof,I think you've nailed this one. We may just be seeing the initial ripples of Japanese personal assets being transferred into Gold. The Japanese will fight like the dickens to retain and protect their 1.4 quadrillion (or 1,300 trillion) yen yen in their deteriorating economic climate, and I suspect that the fate of the Argentinians is fresh on their minds. The environment is ripe for the Gold industry/Mr. Matsufuji to do some agggressive marketing there (I think BB mentioned the marketing issue a few times - it's strange that this golden opportunity hasn't been operationalized).

uponroof (12/29/01; 22:04:26MT - usagold.com msg#: 67452)
Mr. Gresham's #67451
"...but when the detective thriller is written, we might someday hear about all of the stops that were pulled out to keep this time of Dollar hegemony so prolonged."

Thanks for reminding me of this inevitable fact. The truth always comes out in the end.

Yes, what a book it will be. Let's us hope the folks from GATA are advisors and reference sources of at least a few chapters....if they don't write the entire book thremselves.

As entertaining as it is to speculate on outcomes here on this forum, reading factual behind the scenes accounts of the powers that be-as they suffer much deserved pissing of their pants, is better. 'When Genius Failed' regarding the LTCM fiasco comes to mind. Yeah, can't wait to read the next book.

btw-Japan's banking industry deadline for declaring bad loans on their books appears to be March 31 2002 (three months away) which is their fiscal year end. Plenty of time for the Japanese to continue their now rapid accumulation of gold... and plenty of time for the cartel to discover yet another "stop to pull"... if they can. Either way it'll be in the book, eventually. Thanks.

Mr Gresham (12/29/01; 20:16:33MT - usagold.com msg#: 67451)
Cavan Man
Maybe it's just one of those ideas that's impossible to put into words to everyone's satisfaction, but I think you're right and not only will the Dollar's story be the result of policies "dynamic and fluid", but when the detective thriller is written, we might someday hear about all of the stops that were pulled out to keep this time of Dollar hegemony so prolonged. Beyond, really, anyone's expectations. (I mean, once the balance of payments hit minus $400 billion, wouldn't you have thought...?)

Each of those stops using up one remaining fundamental pillar of the financial structure and compromising the future recovery.

Hey, I'm used to being early to the party. And I think I said clearly enough that this time has been useful, essential, to me. We've been in a "time will tell" mode for such a long interval now -- kind of a "phony war" prior to a blitzkrieg event? -- but we've all made our choice as to which side of the resulting guesswork we want to be on, haven't we? Good fortune to you, likewise, Sir.

Black Blade (12/29/01; 19:17:23MT - usagold.com msg#: 67450)
Oil has the kick
http://www.washtimes.com/op-ed/ed-column-2001122818174.htm

Snippit:

For many of us, a cup of Starbucks constitutes our most important source of energy. We depend on it as much as we do another anthracite, energetic fuel - oil. About 60 percent of American oil is imported, 25 percent from the Middle East. Even under peaceful conditions, it's a precarious proposition, one that the war on terrorism has again highlighted.

One energy fix often offered by environmental groups and left-of-center ideologues is increasing America's dependence on renewable sources of energy, such as wind power, solar power, geothermal power and burned biomass. Unfortunately, while renewables are touted as clean, safe and affordable, they are actually far more similar to a decaffeinated cup of Starbucks - disappointingly underpowered, somewhat environmentally benign, and barely affordable.

Dean R. Gosselin, a former president of the American Wind Energy Association, admitted that electricity generated by wind power costs at least a third more than that generated by fossil fuels. Ditto geothermal power, according to an extremely sympathetic paper presented to the conference by Jane C.S. Long, dean of the Mackay School of Mines, and Lisa Shevenell of the Nevada Bureau of Mines. Solar power doesn't do much better. And while renewables seem far cleaner than fossil fuels, they also come with environmental drawbacks. Windmills have an unfortunate habit of endangering birds, especially those who don't realize that they are endangered. Burning biofuels, whether weeds or woodchips, is like burning coal 300 million years or so too early - the emissions problems are similar. Many environmentalists dislike hydropower because of the damage that those turbines do to fish.

Black Blade: I have covered much of this before. There are no easy answers to the energy crisis. The US will always be dependent on and held hostage to foreign petroleum interests (OPEC and former Soviet Union). The reason is that the US does not have the will to face the energy crisis problem and explore and produce hydrocarbons, build new refineries, build new power plants, add new transmission capacity and pipelines. Energy is a national security issue and the US economy simply cannot function without it. The high costs of this depleting resource will put a cap any economic recovery.


mikal (12/29/01; 19:11:10MT - usagold.com msg#: 67449)
Euro importance in the Kingdom by USAGOLD: LIVE NEWS FEED
http://www.abc.net.au/news/business/2001/12/item20011230112812...
Sun, Dec 30 2001 12:21 Euro's success is in Britain's interest: Blair
The success of the single currency being introduced into much of Europe from January 1 is "massively in our interests", British Prime Minister Tony Blair said.
"With so much of our trade and so many of our jobs tied up in business with the rest of Europe, it is massively in our interests that the euro succeeds," Mr Blair said.
Twelve EU countries will forego their national currencies when the euro comes in.
However, Britain is not taking part.
Most Britons do not want to lose the pound, although Mr Blair's Government is keen to join the euro zone.


Black Blade (12/29/01; 18:54:54MT - usagold.com msg#: 67448)
Burger King to create 1,250 new jobs in UK
http://biz.yahoo.com/rf/011229/l27351943_2.html

Snippit:

LONDON, Dec 30 (Reuters) - Fast food restaurant chain Burger King said on Sunday it would create 1,250 new full and part-time jobs in Britain next year as part of a commitment to open 300 new restaurants in the country. Burger King, which is owned by UK leisure and drinks group Diageo Plc, said it planned to open around 35 new restaurants throughout Britain next year, and intended to create 11,000 new jobs in the country over the next five years.

Black Blade: Maybe the long touted economic recovery is upon us. It appears that there will be about 11,000 new career opportunities for the recently unemployed Brit bankers, brokers, and dot.comers. They better "Bone" up and learn to say: "Would you like fries with that sir?"


uponroof (12/29/01; 18:38:32MT - usagold.com msg#: 67447)
Gold Ready to Boom to $780 Led by Japan
http://goldinfo.net/gold780.html
A repost of a recent DJ interview, in light of the doubling of Japanese gold sales just reported this month.
********


The following are excerpts from a Dow Jones News Service INTERVIEW by Jim Hawe (DJ) with Mr. Tamisuke Matsufuji, Founder & CEO of Jipangu Corp of Japan.

snip

"...According to Matsufuji, 46, gold prices are now sitting on a powder keg - and he is expecting Japan to light the fuse. "The price of gold is ready to take off. It could go up to Y3,000 or even Y4,000 (per gram) easy...and Japan could lead the way," Matsufuji recently said in a recent interview with Dow Jones Newswires.

Matsufuji said the rally "could happen soon." Gold at Y3,000/gram is roughly equivalent to $764 per troy ounce.

snip

Japanese Investors Seen As Key "I want to give Japanese investors the opportunity to invest in gold and gold mining companies around the world without exposure to currency risks," said Matsufuji, who sees Japanese investors as a key element in the new golden age.

"Japan is the world's largest creditor nation. Individual assets total more than 1,300 trillion yen. If just 1% of this money could be moved into gold, that would instantly account for five years worth of global production, and gold prices would skyrocket," Matsufuji said.

********
Now here's a report from Friday on gold sales in Japan:
********

Friday, December 28, 2001
Gold Selling Briskly Ahead Of Limited Guarantee On Deposits

TOKYO (Nikkei)--Sales of gold ingots have soared in recent months, particularly since the beginning of December, as individuals try to diversify their investments ahead of the government's halt on full guarantees for deposits at bankrupt financial institutions in April 2002.

Gold ingot sales in December have tripled on the year at Tanaka Kikinzoku KK, the largest domestic dealer of the precious metal, while Mitsubishi Materials Corp. (5711) posted a 100% jump and Sumitomo Metal Mining Co. (5713) saw a 200% increase.

According to the World Gold Council, an international body handling gold data, net domestic gold sales, gross sales minus buybacks, totaled 13-14 tons through Dec. 27, a 200% jump from last December.

The council predicts brisk sales will continue for the next several months, posting the fastest growth rate in a decade, eclipsing the robust expansion seen immediately after the Great Hanshin Earthquake and the financial crisis at "jusen" mortgage lenders in 1995.

Analysts say another factor behind recent strong gold sales is that investors appear to be funneling part of their contract cancellation money for money market funds, which had included bonds of the bankrupt U.S. energy giant Enron, into gold purchases.

"An increasing number of investors are buying gold ingots in large lots, such as 10-20kg (1kg = about 1.3 million yen)," said an official at Tanaka Kikinzoko.

(The Nihon Keizai Shimbun Friday morning edition)
********

REPEAT: If just 1% of Japanese individual assets, which equals 13 trillion yen, moves into gold it will account for 5 years worth of global production. OK, lets be very conservative and say half of that or .5% which is a mere 6.5 trillion yen and a 'measely' 2.5 years of global gold production. Still plenty to blow this market up.

The recent doubling of gold purchases in December is very encouraging. I'd still like to know the banking industry's bad loan deadline, as that may influence the gold market interest accordingly.

Japan has it's back against the wall. I don't believe there is a lot the west can do to stop this nation from moving to gold (but never underestimate the cartel crooks ability to control). The difference here is they're dealing with individuals not a gummint who can be wooed with favors from Uncle Sam. Individuals who have had all they can economically stomach for a very long time. Individuals who are probably sick of propping up the dollar to sustain their dwindling living standards.

Should gold sales really take off (1%!), causing the dollar value to drop-raising the yen, will the Japanese panic further..... buying more gold, instigating a killing reversal of their previous dollar sustaining powers? Or will they see the dollar damage they're causing, cease buying gold and continue to rely on their gummint's paper?

Hummmmmmmm, tough one.

mikal (12/29/01; 18:24:53MT - usagold.com msg#: 67446)
British leader's latest Euro missive from USAGOLD live news feed
http://quote.bloomberg.com/fgcgi.cgi?mnu=news&ptitle=Currency%20Europe&...

 
U.K.'s Blair Urges Britons to Be Ready for Introduction of Euro
By David Healy
London, Dec. 30 (Bloomberg) -- U.K. Prime Minister Tony Blair said introduction of euro notes and coins Jan. 1 in the 12 European Union nations sharing the currency will affect the British economy and it's vital to be ready for it.
``With so much of our trade and so many of our jobs tied up in business with the rest of Europe, it´s massively in our interests that the euro succeeds,´´ Blair said in a New Year´s message. ``In any event, it´s vital since so many companies will trade in it, and it will affect our own economy, that we are prepared for it.´´
It remains his policy to join the euro provided economic tests are met and it is approved in a referendum, Blair said. He and Chancellor of the Exchequer Gordon Brown have said the tests must demonstrate membership in the euro would be in Britain's economic national interest, and it would be good for jobs, investment and the financial sector.
Polls have consistently shown about two-thirds of British voters oppose joining the currency, though the pro-euro foreign office minister Peter Hain predicted opposition to it would recede. He said this month that Britons will come to appreciate the euro's advantages with introduction of the notes and coins on Jan. 1.
Economic Slowdown
Arrival of the euro ``comes at a very difficult time for the global economy, with the world´s three largest economic areas -- the U.S., Japan and Europe -- all slowing down at the same time, world trade growing at its lowest rate for a generation and unemployment rising across the globe,´´ Blair said. ``Because we delivered economic stability in our first term, through Bank of England independence, tough new rules on government borrowing and reduced spending on debt and unemployment benefit, Britain is better placed than many other countries to weather any economic storm´´
The international community also can be ``immensely proud´´ of its response to the events of Sept. 11, Blair said...

Cavan Man (12/29/01; 17:47:15MT - usagold.com msg#: 67445)
Mr Gresham
Sovereign and global monetary policies are quite dynamic and fluid. I suppose he might be able to tell us why his timing calls were off. However, he has never varied from the constant theme in his declamations. He has never been off the trail.

Cavan Man (12/29/01; 17:43:48MT - usagold.com msg#: 67444)
PS: Elwood and "Hand"
My thought at another site: Hugo Salinas Price sounds a lot like A/FOA. At the very least, his THOUGHTS are variations on a very similar theme.

Cavan Man (12/29/01; 17:41:54MT - usagold.com msg#: 67443)
Elwood
What I would like to know is to whom is the debt owed?

Mr Gresham (12/29/01; 17:40:51MT - usagold.com msg#: 67442)
FOA and wealth
Just a quick thought before I dash -- Making money and keeping wealth are two very different things (as in "A fool and his..." perhaps?). I realize how new I am in even thinking about such things.

I guess I've said this before, but: If there's anything FOA has been "wrong" about in the FOA/A Trail of the past 3-4 years, it's the timing of the dollar failure.

But if it had happened then, would you have been ready to hang onto the new wealth in the chosen assets you were so newly arrived in? I think his "inaccurate" urgency was necessary to get us "little guys" moving, and get us thinking -- two necessary components of wealth preservation.

There's an equation for asset growth vs time invested (annual ROI?), and there's a larger equation for not losing it (as in appreciated Dollar holdings).

I know I've matured some in my views these past years from associating with you all -- sure don't know if it's enough for a time of crisis, but I think my "not losing it" equation has improved considerably...

The Invisible Hand (12/29/01; 17:38:05MT - usagold.com msg#: 67441)
The benefits of gold manipulation

The euro was introduced in January 1999, that's three years ago It will be ‘physicalised’ next week.

Barry Riley reports in today's FT the dollar is, more or less, back on the gold standard, but nobody has bothered to tell us. The reason is that gold is stable at $278 an ounce, against $272 a year ago. In fact, 12 months earlier it was $288, and the year before that, $291, says Riley. http://markets.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT362YD5SVC&live=true

The FT also summarises an interview in Der Spiegel http://www.spiegel.de/spiegel/0,1518,174691,00.html
with Hans Eichel, Germany's finance minister, where Eichel said that the Euro 'will soon be a parallel currency' in Britain and other European countries outside the eurozone.
"The euro will, given the enormous power behind it, become a parallel currency in many countries, especially in Europe. "Switzerland ... will probably soon have the euro as a second currency alongside its franc. And I suspect Britain will experience that as well."
Mr Eichel argued that in some countries, for instance in the Balkans, the euro would "become the only really accepted currency, depending on the conditions in the country".
http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT31C9QHSVC&live=true&tagid=IXLC078IH7C&Collid=Any

Is this not the TG/A/FOA dream scenario, whereby, now that manipulation has ensured that gold's value remained stable in dollar terms for the last three or four years, the euro can take over from the dollar on a gold standard, to become the euro on a gold standard and fly as the value and amount of its gold reserves increase, thereby leaving the unbacked dollar in the shadow?

Even David Smith argues in the PS to his Economic Outlook in tomorrow's London Sunday Times that the successor to Duisenberg should be a Brit on condition that Britain joins.
http://www.sunday-times.co.uk/article/0,,9008-2001603920,00.html

Interesting times!

Elwood (12/29/01; 17:20:55MT - usagold.com msg#: 67440)
Correct me if I'm wrong, but....

Doesn't it appear that Argentina is trying to replace its failed dollar-backed peso with a system in which there is fiat and a "wealth reserve" dollar?

It's interesting to see the similarities between the Argentina situation and the American one of the '30s. How long will it be before the government starts confiscating the dollars? Of course, they'll have to abrogate all private dollar debt contracts simultaneously.

There's also the issue of the numbers being bandied about. The amount of defaulted debt is what....132 or 155 billions? Who is counting the other debt such as that issued by the provinces and that created when the national boys grabbed the pension assets?

What was it that Trail Guide said? "We all need and must use some form of fiat currency to operate in this modern world." ??

Regards,
Elwood

Cavan Man (12/29/01; 15:39:56MT - usagold.com msg#: 67439)
Sir Gresham
Old Hickory.......a fellow Irishman......bit of a temper as well...

CoBra(too) (12/29/01; 15:33:49MT - usagold.com msg#: 67438)
Stotting? - Mr. Gresham?
Thanks for bringing it up - and I feel as you do that Bill Bonner and his associates are trying to educate the public towards reality ... in a very gentle, or is it genteel way.
Just coming back from a very pleasant dinner at a country inn with one of the sharpest guys I've had the pleasure to call a friend - a recent US Ambassador to Usbeskistan - I've been in all reality 'forced' to put my opinions to test and manifest in a written progression - which I will - and according to the outcome may report it here ...

@ Henri, CM and some more I may have to and want to respond - I will, though excuse me, as time is of "essence" at this time - ...

... and in the meantime I would like to wish all of you a healthy, prosperous and golden 2002 - cb2


Mr Gresham (12/29/01; 14:12:41MT - usagold.com msg#: 67437)
Andrew Jackson
http://www.reformation.org/jackson_farewell_message.html
And to you to, Sir Belgian!

Jackson's farewell speech, warning about paper money.

"The paper-money system and its natural associations--monopoly and exclusive privileges--have already struck their roots too deep in the soil, and it will require all your efforts to check its further growth and to eradicate the evil."

No time to read this today, but it looks promising, and someone else may have time to get through it this weekend. I'm just trying to get all my browser windows read and closed, so I can pull up the software I need to work on today...(why doesn't 500 MB carry the load anymore?)

Belgian (12/29/01; 13:55:38MT - usagold.com msg#: 67436)
1/1/2002 EURODAY
Europ is bombarded with documentaries on 70 years monetary history. Some studentical conclusions :
Each time the amount of goods and services decline against the fiat amount...there was that same loss of confidence.
Some eurobuilders even suggested to abandon the circulation of physical fiat on this euro-unification excercise.
Euro politicians are so (over) confident that they have the real economy under total control !? And therefore perfectly capable of keeping fiat-growth in check with real economic growth. Two WWs on european soil and floating currencies, are of course a serious lessons. We don't know if these lessons will always been remembered in the further future.
But the management-will is definitely there to stay for some time.

This is in sharp contrast with what is happening in the US.
Low interest rates on the floating debtberg make fiat quantities increase less violently against the declining global contraction in real goods and services. But this seemingly rosy picture will change abruptly when IRs break there resistance points and shoot skyhigh.

In the light of the ongoing war ratling some wise words from LaRouche :
Kissinger, Brezinsky and the British Royals want us to have a geopolitical crisis in Eurasia to prevent these nations for coming together in cooperationunder these circumstances.

We have hyperinflation in the monetary/financial sphere, together with hyperdeflation in the physical economy .
We are all in desperate need for *net* growth in per capita *physical* product ! This is not on the dollar's agenda as odd as this may seem.This is imvho the biggest mistake that has been made over and over again.
Happy New Year to you Good Sir Gresham.



Mr Gresham (12/29/01; 13:14:38MT - usagold.com msg#: 67435)
Bill Bonner: Stotting
http://www.dailyreckoning.com/
"The trouble with doing something stupid to impress other people is that that they might be impressed by how stupid you really are."

Bill has been most enjoyable to read this week -- don't miss his 12/28 ("The Handicap Principle") on the possible evolutionary value of being ostentatious with one's wealth (he doesn't favor it much), but it's nothing any PGAs would ever come near doing, is it? And especially if you've already passed your genes along and now it's just personal survival at stake ahead...

(Stotting is when antelope jump straight up in the air, showing off to the cheetah in pursuit, and basically saying "I'm too healthy: Go get someone else")

Mr Gresham (12/29/01; 10:58:27MT - usagold.com msg#: 67434)
Corporate bankruptcy
http://www.csmonitor.com/2001/1203/p3s1-ussc.html
I followed BB's link and was surprised to see Texaco's name 2nd on the list of the biggest; forgot about their brush with the Pennzoil judgment. Article above gives some interesting summary of Chapter 11 as a tool of corporate survival going forward. Good time not to be a creditor of corporate paper.

Mr Gresham (12/29/01; 10:47:16MT - usagold.com msg#: 67433)
Belgian
Your thoughts clear up the muddy picture as much as anyone can. "almost no limit in popular delusions"

US gov "will claim later on that it also wanted to have its own form of stability and has been using Gold's valuation to obtain that stability for as long as possible."

Nailed that one. And meanwhile, every President coming in has been coached on how well the "exorbitant privilege" has been working for us. Why, look at lucky Bill! 8 years cashing in chips from another decade (Volcker Poker?)

George can only hope he'll be lucky enough to enjoy another year or two of King Dollar, why not stick around and see? Perhaps he'll never have to Rua the day he turned Pres. George III. (Omigod, I'm turning into CoBra2!?!)


Belgian (12/29/01; 06:52:50MT - usagold.com msg#: 67432)
** STABILITY **
EMU's main objective for the time being is financial/economic stability surrounding the euro currency.
No doubt that all policies are focussed on that particular aspect of our actual and future prosperity.

Putin gives some evidence in his speeches that he is inspired (through Germany) by that same idea of stability.
Glassnoster M. Gorbachov is morally supporting Putin . Is Putin going to succeed in avoiding the expected internal revolution from people who are on a monthly average income of 100$ or 3.600 roubles ?

The US government will claim later on that it also wanted to have its own form of stability and has been using Gold's valuation to obtain that stability for as long as possible.
Sympatico, isn't it ?

But what is the main difference between these 3 examples, Europ, Russia, US ?
Russia and Europ are starting with these stability intentions from a bottom-line in contrast with the US that wants to obtain stability at the crater mouth hights of a tremendous inflated bubble. Wich one has the most of chances to remain succesfull for the longest of period ?

And stability is what we all need now more than ever.
If the Pakistan/India, Khasmir dispute should escalate...all bets are off. Note that one Caspian oil/gas pipeline is on the map to India, through Pakistan !

The general 10 year patterns (charts + momentums) on Gold (and related) are zigzagging within a contracting triangle with increased volatility during the second half of this 10 year history. Inevitably leading to a massive breakout (increasng tensions). This in concert with the realities of the fundamentals.

Belgian (12/29/01; 05:39:30MT - usagold.com msg#: 67431)
TA - Chart - Interpretations !?
2002 will open with an explosive, positive stockmarket !
An extension of the organized stock euphoria based upon debts and pro forma profits. The cycle that started on the 9/11 bottom is in search of its high. Nasdaq gave a tremendous positive signal on friday. IMVHO it has all to do with the euro. €/$ (0,88) chart was/is on the verge of a very visible *critical* break out (0,95) in favor of the euro.
Many other charts, who do determinate the intrinsic value of the dollar are at these same critical junctions, where "they" (TPTB) have acted decisevely, as seen on the charts in day-ticks.
Examples :
AG(4,53$) a break through and 2 day close above 4,65$ is called a kick spike in TA terms, with further rising after small retreat as a result.
NY/future CRB index (189) has a similar pivot point at 195.
XAU must burst through 55 to break the clear downward channel. Other break through pivots are 5,5% for USTB-10 and 5,55% for USTB-30 (wich was already pierced with 5,65% recently)

Oil producer's hopes (!-?) to bring POO back into the 22$/28$ range, will encounter the paper gambling masters of the financial brotherhood. On friday a very positive POO (20,25$) was succesfully knocked down to 19,60$ (not coincidently).

POG is OK as long as 274$ holds. My intuition (FWIW) tells me, it will. Because some very long term momentum indicators (trix-phase) are giving some nice pictures in the Gold supporting items. This TA-interpretations still support the positive fundamentals, very strongly.
Let us not forget that the collapse of the financial fata morgana, is a catastrophy for the US (and globe) à la Argentina . It *must* be avoided with continious artificial management ! The chart-patterns give evidence that the outcry of "pressure building" is not a hollow phrase.
I even wouldn't be surprised if a new ATH (all time high) for the (unrepresentative) Dow could be managed succesfully in early 2002!? FWIW and absolutely NIA !!!!

If the US$ wants to remain dominant, it must, cost what cost, counter the birth of tangible euro fiat. With the latest US-election circus in mind, there is almost no limit in popular delusions. These plays are always stopping as brutal as one can imagine. Cfr. 1971 ! Or the London Gold pool if you wish.

Yes, Gold will definitely triumph in 2002 ! Too many very critical breaking points are touched too frequently in the financial constellation. Is this approach science, art or voodoo ? Who knows ? I do remain fully confident and perseverant.


Canuck (12/29/01; 04:48:05MT - usagold.com msg#: 67430)
USD not used for payment?
Snipped from another posting:

"See email below discussing fact that French contact has already warned U.S. person that FRNs will be rejected after December 31 for payment of debts."

Anybody know of or can cinfirm this?

TIA,

Canuck

Black Blade (12/29/01; 01:19:45MT - usagold.com msg#: 67429)
Largest US Bankruptcies
http://www.bankruptcydata.com/Research/15_Largest.htm

This table says a lot about the size of the Enron bankruptcy. The data is under review and likely to be revised upward as leveraged paper is accounted for. "Interesting Times"

- Black Blade

Golden Dreams All! Got a plane to catch in the morning.

Black Blade (12/29/01; 00:19:36MT - usagold.com msg#: 67428)
TEX - Longhorns and Harmony

What a comeback in the fourth quarter! And to think that I had almost changed the channel a one point. The Longhorns made Washington look rather pathetic.

The Harmony Gold recommendation was made by David Tice of the Prudent Bear Fund. He believes as I do that the markets are grossly overvalued as corporate earnings are falling faster than stock prices leading to extreme stock valuations. He has also given strong recommendations to Gold and Silver. A good sign for PMs as MK points out is the backwardation of precious metals (and even base metals). There is a change in the air the last several days. Cheers!

- Black Blade



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