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ARCHIVED DISCUSSION FROM 12/29/2005 All times are U.S. Mountain Time (Yesterday's Discussion.) Sundeck (12/29/05; 23:09:03MT - usagold.com msg#: 139858) Gold and booze and cigarettes and wimmin... YGM, the fourth stanza of Rozier's gold and silver poem reminded me of a quip from the late and great George Best, the famous world football star...He died rather poor, having made a lot of money as a soccer star. Asked what happened to it all, he said:"I spent a lot of money on booze, birds and fast cars. The rest I just squandered." And so often it is with people and nations..."great" deeds are done and the gold gets passed around to hoard and to squander...and to hoard and to squander again and again. People come and go, but gold remains...A Happy New Year to you...:-) PH in LA (12/29/05; 22:59:22MT - usagold.com msg#: 139857) Trolls, etc. Dear Randy,Please don't ever even think, imagine or suspect that I had, or every will have, anything to say about silver vs. gold. I don't!I do object to any poster that (for whatever reason) clogs up the forum with gratuitous name-calling like the following:"Rich Galearis: Nice tag team. Hijackers. Johnny one notes. Shameless, boring promoters. It's all staged..." etc.Such rudeness deserves censure by the authorities for the offense it offers to readers. It is completely ineffective as argument, too.I was only trying to point this out... not comment on the content of dear Flaccus' post, since I consider name-calling to be basically contentless (if there is such a word). YGM (12/29/05; 22:08:30MT - usagold.com msg#: 139856) Whose Gold & Silver? The Silver And Gold Is Mine. By: Irvin Rozier Many ounces of silver and gold have been found Some in gurgling rivers and beneath the ground God placed all that silver and gold there I just found a silver dime under my chair It is amazing where silver and gold can turn up Gold has been fashioned into many a pretty cup Tons of gold and silver have been lost in the sea Treasure hunters will dive for it for a hefty fee Man does not really own the silver and gold Through the ages much has been bought and sold Without gold or silver man came from the womb And he can't take any with him to his tomb He dies and leaves his gold and silver for others to use Much of it is spent on gambling, sport and booze Not a single silver or gold coin is of use in death It is all left behind when man draws his last breath Greed has been the downfall of many a nation and man Some lost their life over that gold nugget in that little pan Life on earth is very uncertain and is very short Where are all those people who built the Knox Fort I know that God is the owner of all the silver and gold He even has gold paved streets in heaven it is told So remember that the gold and silver is not your own It was given to you from God as a temporary loan Treasures laid up in heaven are safe and secure Turn your eyes upon Jesus and from gold's alure He'll give you peace of mind that thieves cannot steal And life eternal in heaven that is O so real Copyright 2005 Irvin L. Rozier, author of My Walk with the Lord YGM (12/29/05; 22:04:31MT - usagold.com msg#: 139855) Best of The Coming Year To All. Silver and Gold:Make new friends, but keep the old;Those are silver, these are gold.New-made friendships, like new wine,Age will mellow and refine.Friendships that have stood the test-Time and change-are surely best;Brow may wrinkle, hair grow gray;Friendship never knows decay.For 'mid old friends, tried and true,Once more we our youth renew.But old friends, alas! may die;New friends must their place supply.Cherish friendship in your breast-New is good, but old is best;Make new friends, but keep the old;Those are silver, these are gold. OvS (12/29/05; 21:47:00MT - usagold.com msg#: 139854) Up-date via CIA World: 55.5 trillionUSA: 11.7China: 7.3Japan: 3.7India: 3.3Germany: 2.3UK: 1.7France: 1.7Italy: 1.6Russia: 1.4Hong Kong: 0.2Belgium: 0.3Why do I hate statistics?Because you can massagethe data... OvS (12/29/05; 21:08:29MT - usagold.com msg#: 139853) To put things in perspective: USA GNP is about 11 trillion.Runner up is about 4 trillion.It is estimated that within5 years the US military budgetwill be more than all the nations of the world put to-gether...Whatever the true GNP of Chinais, Hong Kong's part is 1/3rdof the mainland... OvS (12/29/05; 20:51:55MT - usagold.com msg#: 139852) Pritcho If you're not bannedat least wash your mouth out. There areladies abord. OvS David Linkley (12/29/05; 19:57:29MT - usagold.com msg#: 139851) @TownCrier You assume that the intentions of central bankers and politicians are benevolent yet who do they really work for? What greater justice can be done for a society then the assurance of money as a store of value? History has shown us brutely that central bankers are in place at the whim of the true ruling class. Both bankers and politicians must feed the hands that put them there. I'm just asking you if you really know the answers to any of the questions I've asked? You supply the board with terrific information but somewhere along the way your personal sense of proportion has left you. The system that is now being arranged is being done covertly and without popular acceptance and or support.You assume to know the structure and goals of this new order but fail to ask or answerer key questions. Don't assume anything during times like this. A true economic war is underway and know one knows the ultimate outcome. I hope and pray that it is as simple as you suggest, but I fear history and reality will not be conned! PRITCHO (12/29/05; 19:33:06MT - usagold.com msg#: 139849) Latest From Richard Russell (Richards Remarks) http://ww2.dowtheoryletters.com/DTLOL.nsf Snip: (From the start -no breaks or out of context)December 29, 2005: "You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning." --Andrew Jackson, 1828 (to a group of investment bankers trying to persuade him to renew their bank charter). Russell note -- Tough old President Andrew Jackson closed down the Second National Bank, which was somewhat comparable to the Federal Reserve of today......................................................................................Question -- Is silver a precious metal? Answer -- Yes.Question -- Is silver a monetary metal?Answer -- Unclear. Silver definitely used to be a monetary metal, and originally the dollar was defined in terms of silver. We've had silver coins in the US until recently when the Treasury substituted base metal for silver in our coinage. Even the copper has been taken out of our lowly penny. If the Treasury could find a way of making out coins out of bat guano, I have no doubt that we'd be pocketing "bat dimes and quarters."But let's turn the precious metals, gold and silver (I'm leaving out platinum and palladium). Since last September silver has been outperforming gold. Classically, it took around 15 ounces of silver to buy one ounce of gold. That ratio has faded away, and today it takes 57 ounces of silver to buy an ounce of gold. Many metal experts believe that silver is too cheap and are hoping that the ratio heads towards the old 15-to-one again. Since September, the ratio has been contracting in favor or silver. The daily chart below shows the ratio of gold to silver with silver increasing in relative strength. TownCrier (12/29/05; 19:24:15MT - usagold.com msg#: 139848) David Linkley, a comment on your words You asked, "The dirty little secret is there will be no transition as smooth as possible. Once the freedom loving peoples of the world find out what has been done to them, all hell is going to break out. How do you smoothly transition from hundreds of $trillions of debt and derivatives to a new global economic order smoothly?"How do you smoothly transition? The short answer, again, is: as ____ AS POSSIBLE.I think you are choosing to overlook a very obvious condition simply in order to advance an opportunity to harp.If you can accept, for even the briefest of moments, that central bankers within their terms of employment each have something that is akin to a Job Description or a 'work order', then I think the rest of my original point will naturally follow if you can also accept that the manner of conducting affairs can be done anywhere along the following general spectrum of perfectly bad to perfectly fine.Perfectly Rough>>>>As Roughly as Possible>>>>Roughly>>>>As Smoothly as Possible>>>>Smoothly>>>>Perfectly SmoothAs you can see, "as smooth as possible" is indeed closer to "Roughly" than it is to the impossible "Perfectly Smooth". And to conclude my say in the matter, in the fulfilment of one's job description, a very human central banker will indeed gravitate toward "as smoothly AS POSSIBE", and that is indeed how it is to be done.So in case you completely missed my delicately stated point as spelled out geometrically above, the transistion will NOT be Smooth, and you must prepare yourself for a Rough ride.It is times like this that I am convinced that economic newsletter writers in general have numbed their audiences with such a high degree of vitriol, overstatement, sensationalization and hyperbole that any normal attempt to state something candidly and matter-of-factly completely fails to register as anything of note in the desensitized mind of the modern oversensationalized reader.In a final note for the benefit of future translators: in a conscious effort to maintain both dignity and credibility, I do not tend to overamplify a case in point, but rather aim for a presentation that is as calm and direct as possible. If that means somebody has to run it through the soon-to-be-patented "Wowzers-O-Rama Amplification Sensationalizer" in the privacy of their own office in order to hear what I'm saying, then so be it. I offer the following to help calibrate your equipment:A diversification into physical gold continues to be a prudent course of action at this time.W-O-RAS Translation: "Holy crap, people, the freakin' sky is falling and the damn gubmint is asleep at the wheel!!! Buy as much gold as you can, back up the truck and start loading because this is the kind of opportunity that comes not just once-in-a-lifetime but rather once in the history of an entire civilization!!"With your blessing, I will now return to my garden-variety bland presentation.R. contrarian (12/29/05; 19:23:49MT - usagold.com msg#: 139847) David Linkley--Transition Agree that there will be no "transition" to any new currency system. Rather, it will be like a phase change as when water freezes to ice, not gradual, but sudden. There was a book recently written about tipping points, how things quietly gather momentum, and then suddenly change, having reached a tipping point. Au contraire, regarding gradual changes, the world just doesn't work that way, all hunky dory. People have to be dragged screaming to the table. Or clubbed in the head! And sometimes it takes war! PRITCHO (12/29/05; 19:18:13MT - usagold.com msg#: 139846) In Belated Support Of Rich - - - - (Mid Morning in Perth) I was surprised, to put it mildly, that TC took such violent umbrage at what I read as being a very tongue in cheek remark!IT was also said with a humourous intent, which would have been patently obvious to anyone who is familiar with the exchanges that have been ongoing here.Obvious that is to anyone with a sense of humour.TC has been incredibly thin skinned over this -AND I hope his NEW YEAR resolution willbe to get him some tolerance & sense of humour. TownCrier (12/29/05; 18:23:06MT - usagold.com msg#: 139845) PH in LA, on "expelling trolls" Is it possible that I'm focused to the point of bias? Or is it simply that you and I have distinctly different perspectives as befitting our distinctly separate experiences of nurture and nature? Regardless, as far as I've been able to discern, the only thing Flaccus is guilty of is expressing a desire to visit USAGOLD to gain some insights into gold -- without having to do a great deal of scrolling through unrelated matter.I do not see that as a wholly unreasonable expectation. In fact, not many hours ago I expressed to Rich that among my various endeavors in association with USAGOLD is "...trying to help keep this discussion forum filled with gold-related news and insights as a service to Centennial's current and prospective clientele."And to be sure, given the very real (generally silent but ever-present) volume of gold clientele as compared to the small handful of silver hawkers (fewer still of whom ever actually appear to take any action comensurate with their words), the scales overwhelmingly tip in favor of serving the needs of those wishing for gold news over ensuring whether or not silver promotionals are accorded due or undue status.As I've explained before, it is very easy for me to completely overlook notions of "fairness" regarding the sorry state of silver posters because even as I arrived on this scene I had long previously reached a fitting conclusion that silver, as a potential investment, merits no greater or lesser consideration than does a whole host of other standard commodities ripe or unripe for speculation.Gold, on the other hand, is central to a profoundly different situation quite worthy of rigorous discussion, as any diligent reader can attest.R. Sundeck (12/29/05; 18:02:27MT - usagold.com msg#: 139844) China and silver and gold...and the mercantile "value" of gold Rich #139821You're welcome...There are many evocative themes in the Flynn and Gir·ldez essay. I am pondering a few of them. One that leaps out is the resurgence of demand for precious metals following a population/economic boom that the authors argue was connected with the introduction of New World food plants (maize, sweet potatoes, potatoes and peanuts, in particular), thereby permitting agricultural production on land hitherto unsuitable for traditional food-crops. The secondary boom in the silver price was brought about by the increased demand for silver in an already "silverised" community...a demand that could not be immediately met with available supply; leading to a rewarding arbitrage trade for around a hundred years.I think that this circumstance is not dissimilar to the present one in which increased wealth of a quasi-stable (rather than increasing) population places growing demand upon available supplies of precious metals in an environment where the suppliers of those precious metals are either scrambling to meet forseeable demand (coming off reduced mine profitability for the last 25 years) or are deliberately withholding supply (the large holders...CBs and the Buffetts etc) in a long-term bull market.There are several other parallels with modern times...more later, if I get a round tuit.TownCrier #139832I suspect that there may be a lot in what you say about the free-trading of gold by the ECB. The confidence in any market is enhanced if exchange of goods and services is liquid and the players see more and more of the cobwebs of suspicion blown away: secrecy, protectiveness, double-dealing, living-in-the-past attitudes, manipulation, etc, need to be removed for a good to trade freely at a fair price. These impediments have surrounded gold dealing for many years now...assisted by the anachronism of the UST booking its gold reserves to $42. I suspect the UST is in one heck of a quandry about its gold reserves in a growing MTM environment. (a) Reserves may not be as plentiful as it is claimed ("deep-storage" gold and the plethora of loans and swaps and leasings that grace the financial world). (b) MTM would be a tacit acknowledgement that gold, not FRNs, is the ultimate international monetary and wealth reserve. (c) The US financial system is not ready for gold's emancipation...rather like China's financial system is not ready for a floating renminbi. (d) An embarrassing political/monetary backdown signalling that the (loathed) French may have been right all the time...or, at least, since the early '70s.One more point. The very large gold reserves held by the European banks must surely be a "mercantile lubricant" in dealings with a China (and Asia in general) that has overtly expressed its willingness to embrace gold as a national (and personal) asset; and a China which is currently supposedly short of desired gold reserves. The MTM/mercantilist stance of "Olde Europe" with respect to gold must surely have stolen a march on "Young America" with regard to "bargaining power" in Asia; not just in gold dealings per se, but in the all-important door-opening phase of larger trading arrangements.Cheers:-) David Linkley (12/29/05; 17:53:53MT - usagold.com msg#: 139843) @TownCrier (Mark to Market day tommorrow) TownCrier you are drinking too much of your own cool aid once again as you make assumptions which are as arrogant as the world elitists have become. I agree that the world is moving towards an evolved financial system but it is distinctly stealth in nature. I don't remember me or anyone else having a chance to study or vote on it. Exactly who is pushing for this system and to whom is it to benefit? Do you know to whom all these ECU gold sales are being made? Do you know why much of the world is going deeper into debt and who is lending them the money to do so? Why is the US as rapidly as possible centralizing the economy and power in DC? Why is Britian following in the same path?The dirty little secret is there will be no transition as smooth as possible. Once the freedom loving peoples of the world find out what has been done to them, all hell is going to break out. How do you smoothly transition from hundreds of $trillions of debt and derivatives to a new global economic order smoothly?The Washington Agreements were a signal to the market that the endless leasing of gold was coming to an end. Central bank gold sales are positive for the price of gold long-term because it removes political overhead supply. It is obvious to me that the current insane policies of the US (no energy policy, piling on more debt, a war of endless attrition, etc.) are diversions to help implement this new policy. IMO this is leading first to a defacto end of rights in the west and a ruling class (who will end up with most of the gold) of the likes never seen on a global scale. So go ahead and tout your brilliance as you see it. I agree with you on one point, own the physical. Goldilox (12/29/05; 17:33:56MT - usagold.com msg#: 139842) Return of Decorum @goldquest,My hopes exactly. When a discussion deteriorates into name calling and perceived accusations, the kettle is boiling a bit hot for even-tempered continuation. Maybe we all need to take a deep breath and slowly exhale. TownCrier (12/29/05; 16:21:17MT - usagold.com msg#: 139841) 968, thanks for the additional point But the final figures may actually be closer than the 9% you've mentioned.My current gold reserve calculation, excluding any gold movements for the current week and overnight price changes, peg the revalued gold value at EUR 164 billion, actually exceeding the current foreign currency position of EUR 161 billion.However, (maybe you've already taken a rough stab at projecting the end-of-week net foreign currency positions and revaluations), we'll know with certainty by this time next week when the consolidated financial statement is published exactly how far the gold/paper ratio has evolved within those particular halls.Meanwhile, we also know with certainty that the U.S. Treasury gold (held by the Fed as gold certificates) is still anachronistically (and antagonistically) valued only at $42 per ounce, all while the Fed's balance sheet grows ever larger on the back of domestic repos.It's only a matter of time before the balance tips and all opportunistic prudence dictates to a stunned (if not wholly unreluctant) Congress to officially revalue our Treasury's gold on the floating tide and subsequently dishoard some of the ounces as needed to mop up the mess.R. goldquest (12/29/05; 16:11:09MT - usagold.com msg#: 139840) @ Rich Powell Rich, for what it is worth, you are one of my favorite contributors to this forum.You have sparked many enlightening debates. The fiery clashes over silver, the past several weeks, shows that some folks are not considering the over all picture when it comes to precious metals.I also have large holdings in silver, both physical and shares in some of the top silver producers.I see nothing wrong in people taking different roads, to accomplish the same goals.I would like to see the bitterness that has occurred over these debates, subside and return to a more friendly atmosphere.P.S. I can also relate to your profession, as I to worked in concrete construction in the late '50s and early '60s.An honorable profession to be sure.Best wishes and prosperity, whatever your decisions may be.goldquest Topaz (12/29/05; 15:50:06MT - usagold.com msg#: 139839) alt-PoG. http://www.futuresource.com/charts/charts.jsp?s=GC&o=100/DX&a=W&z=610x300&d=LOW&b=LINE&st= The Weekly comparison chart gives a good perspective on where we went as a whole during '05.The truly optimistic can clearly define a "to da moon Alice" future for PoG as we head into a new year.The "papery" nature of the beast though gives rise to a less enthusiastic prognosis that will be determined in another arena, namely the ongoing battle between deflationary and disinflationary forces in the global economy.A Happy New Year to all. Chris Powell (12/29/05; 15:49:53MT - usagold.com msg#: 139838) Goldman Sachs acquires Italian central bank http://groups.yahoo.com/group/gata/message/3571 Latest GATA dispatch.To subscribe to GATA's dispatches, send an e-mail to:gata-subscribe@yahoogroups.com TownCrier (12/29/05; 15:40:59MT - usagold.com msg#: 139837) Rich, on the offending use of "belief" Had you said something along the lines of "TownCrier expressing his certainty that physical....etc" I can assure you that I would not have taken offense and it would have passed by like so much water under the bridge. (That was a metaphor.)However, I've yet to meet the engineer who will commit to a bridge design under the mere "belief" that it will function without collapse. To downplay the necessary component of professional "certainty", which comes via years of critical study and scientific wherewithal with the principles of physics, is to dismiss precisely that very thing that defines the man.(And, knowing your propensity to dodge and weave loose threads into straw men, before you object on the grounds that you said nothing about engineers, I will preemptively state that the above was an ANALOGY, choosing a very clear and easily graspable example as a means to make a parallel point.)I appreciate Goldilox's attempt at interpretive reassurance, but from my experience, if it feels like "an elbow to the face" it usually is.R. Survivor (12/29/05; 15:27:38MT - usagold.com msg#: 139836) Doesn't It Depend? I surely like the sound of CBs such as China adding more gold to their reserves, but wouldn't the impact of those purchases depend on how they are accomplished?If China goes out and bids up the market to aquire xx tons, then the additional demand should push $-prices up. If, however, China's CB simply becomes the purchaser when gold is offered by another CB at the current market $-price, then there would be little if any upward market pressure.Naturally our collective gold-bull perspective suggests that when CBs even talk about purchasing, then it is assumed that other CBs will be less likely to sell, with resulting upward price pressure. This only plays out if there are in fact more buyers than sellers, though. Not that there aren't plenty of other bullish reasons - all well articulated here - to buy and hold. And, if *all* CBs decide to increase gold reserves, then in the words of an esteemed knight: "To da moon, Alice!"A happy new year to all! (And thanks to all who have constructive things to say about holding gold OR silver!)- Survivor PH in LA (12/29/05; 15:24:41MT - usagold.com msg#: 139835) Year-end departures? Please reconsider!! Rich Powell,It would mark a sad day at USAgold to see you disappear from the list of posters welcome here. Before you leave, please keep the Crier's words in their usual abrasive context, and don't forget that he is a paid crier at best. His diligence in earning his salary often colors his comments to the point of giving offense. He (and his employers) would do well to remember that each time a poster is given more than ample opportunity to take offense, readers and potential customers get a negative impression, too. Your voice is one that has long been greatly appreciated for its originalality around here. It is all-too-easy to re-post articles and opinions of other (often so-called) experts and much harder (but more appreciated) when truely personal ideas and opinions are expressed.By the way, where is the crier's usual industry in expelling trolls like your admirer Flaccus when we truely need it? 968 (12/29/05; 15:17:50MT - usagold.com msg#: 139834) Towncrier message #: 139832 If I may humbly add this to your superb post :Because of these quarterly revalutions the Eurosystem was able to decrease its foreign exchange reserves from approximately 231 billion euros in 1999, to 161,2 billion euros this week.This implies that the ECB's forexreserves exceeds their goldreserves by only 9% at the moment !!!! TownCrier (12/29/05; 15:09:30MT - usagold.com msg#: 139833) Paper goes *POOF!* -- Zimbabwe inflation tops 1,000 percent http://story.irishsun.com/p.x/ct/9/id/da93f3b72012e4aa/cid/3a8a80d6f705f8cc/ 29th December, 2005ÝÝ(UPI) -- The price of a loaf of bread rose by 1,157 percent during 2005, while milk climbed 1,718 percent, the nation's independent Consumer Council reported.Meanwhile, unemployment has risen to 80 percent.The upshot of explosive inflation and the highest unemployment rate in Africa is a proliferation of food scavenging.About 70 percent of Zimbabwe's 12 million population manage one meal or less a day...^---(from url)----^This is simply one example in a billion in which an understanding of human nature will promply remind us that when a person has a meal to sell, and the would-be buyers are competing with goldmetal and inflated paper, the gold holder has the advantage over the paper holder.Tragic as this example is, my point is made, and I'll refrain from lame attempts at any further pusuit of this issue by way of social commentary. Will simply conclude with an expression of my wishes for a better 2006.R. TownCrier (12/29/05; 14:50:20MT - usagold.com msg#: 139832) Mark-to-Market day tomorrow Tomorrow is the big MTM day for the eurosystem, reflecting not only the quarterly realignment of the reserve asset books as a nod to the generally-accepted pricing levels of the public market; it also provides the single annualized basis for reckoning of the revaluation accounts.If gold overnight holds at its current level, each gold ounce in reserve will be valued near 435 euro.This compares very favorably against this past quarter's mark of 393 euro per ounce, and very very favorably against the year-ago mark of 321 euro per ounce.To all of the naysayers of the recent program of eurosystem gold activity ("selling"), the reality check is this... the naysayers have little grasp of the undercurrents at play and therefore remain unable to make correct interpretations between cause and effect in the overall dynamic of this particular market.One simple observation should serve to put the naysayers on their back foot, and that is, even though the eurosystem has reallocated ("sold") approximately 500 tonnes in gold reserves during the past 12 months, the important fact of the matter is that the TOTAL MARKET VALUE of the fewer gold reserves that now remain IS HIGHER than the total value as was expressed "by the market" on the larger reserve holdings of one year ago.TODAY:EUR 435 x 377 million ounces (today's price and today's holdings) equals 164 billion euroversusONE YEAR AGOEUR 321 x 391 million ounces (last year's price and last year's holdings) equals 126 billion euroThe naysayers need to try harder to understand that they have it wrong. The price is rising NOT "despite" an apparent effort of the Europeans to quash it with sales, BUT RATHER the price is rising BECAUSE the Europeans have SET THIS INTO MOTION, some very deep foundational wheels, playing their own vital role in the current transition to a new international monetary system -- "new" as primarily distinguished by the gold-dominated nature and MTM accounting structure of the central banks' reserves.Man's conception of 'best practice' has always evolved based on growing understanding of the tools available to him and the influence wrought upon the playing field. Discovery and acceptance of free-floating MTM gold reserves as the 'best practice' in the IMS is where the culmination of human financial history has brought us today. All that remains is the implementation phase, responsibly targeting a smoothest-possible transition.Next month (January 2006) Russia takes the step toward MTM gold reserves, whereas legendary banking giant Switzerland is already on board.Time and marches on. Will your papery portfolio withstand the rigors of change?Call USAGOLD-Centennial for a diversification consultation and great prices on gold coins and bullion. TOLL FREE 1-800-869-5115R. R Powell (12/29/05; 14:48:11MT - usagold.com msg#: 139831) TownCrier...protest? Your 139823 protest (?) surprised me, to say the least. I made no comment or inference regarding anything at all....other than to make the statement that you often state that physical gold ownership is the safest form of ownership. I said that you often state this "belief", or that you believe such. Let us, please, not get into a semantic argument over the many connotations of the word "belief". Your words.... "Whether you realize it or not, (and I'm thinking that you definitely do), your small comments like this one quoted above serve only to torpedo in the mind of the very casual reader the general merit of my contributions." No, I did not realise it. It never crossed my mind. Nor do I hold any readers in such small esteem so as to think that implying "belief" in physical ownership would/could imply any doubt. Obviously there is no doubt in your mind. Are you implying that I should have said something to the effect of "foregone, unquestionable, deadly certain" rather than belief. Are you indeed an allknowing being? Should I add the words of TownCrier on my list of certainities...presently occupied by only death and taxes? I'll say good-by to my friends here, and join the ranks of the missing (or thrown out) if you deem me an annoyance, but I'll not be lambasted over the connotation of "belief". Regards rich Goldilox (12/29/05; 14:32:19MT - usagold.com msg#: 139830) Protest noted, but @ TC, If it matters, I didn't read any of the negativity into Rich's statement that you seemed to. Implied degradation is often difficult to discern over the internet, and my experience has been that I too often infer it from statements that weren't intended as such.You do say that regularly, for reasons you fully support. No shame in that.Just my $0.03, adjusted for inflation. Belgian (12/29/05; 14:17:32MT - usagold.com msg#: 139829) 2006 With a frighthening conviction, the mainstream financial media don't see any sign of collapse for 2006. Indeed, they have it right. The stockmarket, bondmarket, housemarket nor the dollar will "collapse"...because...the helicopters stand ready to drop dollars, should something go (fall) the wrong way. (cfr. Allan's...CBs stand ready...)The financial media (mouthpieces) are subtly reproducing this message on a daily basis.Everything will be kept "$-inflated"...up until the bitter end. Goldphiles are supposed to know WHY it happens and WHAT exactly the bitter end means.Keep watching that goldprice behavior with the multitude of gold statements ( WE WANT GOLDMETAL ) in the background.Bear in mind that the ECB (and BIS) never architected the MTM OF GOLD_RESERVES against the *** $-paper-price *** of gold...BUT AGAINST GOLD'S VALUE IN A PHYSICAL MARKET !Any contract ($-papergold) is a priori "WORTHLESS" if there is a certainty of *non-delivery* of the underlying !!!During the past 7 decades, an ever declining mass of goldmetal demanding gold-bugs has been served with the available metal. The gold absorbing giants had to be extremely patient to pick some metal out of the market. Today, these same giants know that the existing $ paper gold market can deliver less and less of metal to satisfy their fast increasing gold demand capacity. FOR HOW LONG WILL THEY REMAIN DISCIPLINE...when the dollar now almost openly acts on Ben's helikopter statement ?The ever rising amount of dollar-reserves cannot be compensated with a $-goldprice that is moved up and down with worthless paper contracts ! When the dollar-regime dictates the $-price of gold...goldmetal in CB vaults cannot function as a reserve, different from the dollar-unit reserves ! The world's dollar-reserve holders want gold as a WEALTH RESERVE and not as a dollar derivative.THIS IS THE ONE AND ONLY REASON FOR HOLDING GOLDMETAL IN PRIVATE AND PUBLIC POSSESSION !!!WHY inventing new gold-theories, day after day, when the complete plan becomes easier to understand ? Is holding goldmetal evolving to the globe's new wealth holding..."that" boring !? USAGOLD Daily Market Report (12/29/05; 13:50:12MT - usagold.com msg#: 139828) Page Update! http://www.usagold.com/DailyQuotes.htmlThe Daily Gold Market Report has been updated.If you are considering investments in gold we invite you to request our free introductory information packet detailing the products and services offered by USAGOLD ~ Centennial Precious Metals. We welcome your inquiry and look forward to working with you.THURSDAY Market ExcerptsDecember 29 (from Reuters) -- Gold futures in New York rose but finished below a prior two-week high on Thursday, as late speculative buying helped offset producer selling during the morning in whippy, year-end trade.February delivery gold was up $1.20 at $517.50 at the New York Mercantile Exchange's COMEX division, after gyrating around a range between $512.80 and $520.10.The choppy session followed a rise to two-week highs in Tokyo gold futures and spot gold overnight fueled by upbeat sentiment on gold heading into next year, traders said."There's no volume because some dealers have sold at $520 and now don't want to do anything," one COMEX floor source said."Everyone does seem to be fairly positive looking into next year," said Bernard Hunter, a director at ScotiaMocatta in Toronto.New York metals are set to close early near noon on Friday and remain shut on Monday for the New Year's market holiday.One floor dealer said he was surprised by the 10.5 percent drop overnight in COMEX gold warehouse stocks.Inventories fell 680,603 ounces to 6,497,818 ounces on Wednesday.For the year, the price of COMEX gold is up 18 percent, as investors diversify into commodities from other assets and amid concerns about economic growth and geopolitical events.Gold in the last six months also has broken free from its typical inverse relationship to the dollar, enabling factors like tight supply and strong demand to hold sway over prices.---(see url for full news, 24-hr newswire, market quotes)--- USAGOLD / Centennial Precious Metals, Inc. (12/29/05; 12:50:29MT - usagold.com msg#: 139827) The art of transforming seasonal fruits into enduring value http://www.usagold.com/gold-coins.html
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