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ARCHIVED DISCUSSION FROM 9/29/2006 All times are U.S. Mountain Time (Yesterday's Discussion.) Gandalf the White (9/29/06; 22:34:58MT - usagold.com msg#: 147949) TAA TAA TAAAAAAAAAAAAA, TAA TAA TAAAAAAAAAAAAAAAAAAAAA ! $$$$$$$$$$$$$$ THE "PRICE of GOLD" GUESSING CONTEST!! $$$$$$$$$$$$OFFICIAL CONTEST ENTRY LISTINGS ----$$$ $8,752.0 $$$ The Invisible Hand (9/23/06; 14:30:09MT - usagold.com msg#: 147701)$$$$ $681.1 $$$$ Beamer (9/29/06; 01:14:22MT - usagold.com msg#: 147907)$$$$ $650.0 $$$$ Sundeck (9/22/06; 22:41:10MT - usagold.com msg#: 147683)### $643.0 ### Topaz (9/23/06; 04:57:44MT - usagold.com msg#: 147694)$$$$ $635.0 $$$$ Demosthenes (9/27/06; 21:18:04MT - usagold.com msg#: 147871)**** $634.0 **** jenika (9/28/06; 00:42:53MT - usagold.com msg#: 147878)$$$$ $626.3 $$$$ glockmaster19 (9/29/06; 13:22:18MT - usagold.com msg#: 147931)**** $626.2 **** Goldilox (9/23/06; 01:24:03MT - usagold.com msg#: 147686)$$$$ $620.0 $$$$ Clink! (9/22/06; 21:09:58MT - usagold.com msg#: 147681)$$$$ $615.0 $$$$ Armageddon (9/29/06; 22:17:10MT - usagold.com msg#: 147948)*** FRN606.7 *** Smeagol (9/23/06; 01:57:50MT - usagold.com msg#: 147687)$$$$ $606.5 $$$$ balzac (9/27/06; 21:35:50MT - usagold.com msg#: 147873)$$$$ $605.0 $$$$ Titan (9/27/06; 12:30:56MT - usagold.com msg#: 147853)$$$$ $602.9 $$$$ GOLD FINGER (9/29/06; 18:01:04MT - usagold.com msg#: 147941)$$$$ $599.9 $$$$ DryWasher (9/24/06; 15:10:57MT - usagold.com msg#: 147742)$$$$ $595.5 $$$$ Federal_Reserves (9/25/06; 19:01:55MT - usagold.com msg#: 147777)**** $590.3 **** arbyh (9/26/06; 09:30:45MT - usagold.com msg#: 147809)$$$$ $577.7 $$$$ Peculium Aurum (9/27/06; 23:55:29MT - usagold.com msg#: 147876)$$$$ $545.0 $$$$ Thoreauly (9/24/06; 10:22:14MT - usagold.com msg#: 147738)===Pick your lucky numbers, THINK of an answer to the QUESTION, and post your ENTRY.LOTS of room for your ENTRY, as only Sir Goldilox is being HUGGED ! <;-) Armageddon (9/29/06; 22:17:10MT - usagold.com msg#: 147948) $$$$$ $ 615.0 $$$$$$$ The Question: Who or what put gold to sleep, and who or what is going to wake it up?WHO PUT GOLD TO SLEEP? As for who or what put gold to sleep the answer I believe is Secretary of the Treasury Henry Paulson and those who planned and executed the actions with him to bring down the price of oil, gas, and commodities to make the economy look better in time for the November elections. Computer program or "black box" trading and gold selling by the European central banks ahead of the Sept 26 deadline for their yearly gold sales contributed heavily to the gold price decline in bullion and mining stocks. The strategy to take gold down was similar to setting off a stampede by firing a gun into the air. Gasoline is also down dramatically and the latest consumer confidence report states that "falling gasoline prices helped ease American shoppers' worries in September, sending a gauge of consumer sentiment higher than analysts expected." However, it was not only financial tools that brought down the price of oil and gas but I believe that demand and anticipated future demand based on the fundamentals of the American economy also played a key role. The American economy is in freefall. Ford recently reported huge drops in sales of its gas guzzling trucks and SUVs resulting in many more plant closings and layoffs. Housing starts and sales have suffered huge declines that will get even worse. Trillions of dollars of Adjustable Rate Mortgages or ARMS will readjust higher next year severely adding to the number of defaults and adding to the glut of unsold homes. Manufacturing activity was negative according to a recently released report. All these factors helped push down the demand for gas and oil and thus the price for these items. The price of gold was kept down also because of panicked speculators and momentum traders that do not understand the fundamental reasons for owning gold but only trade based on charts not fundamentals.WHAT IS GOING TO WAKE IT UP? As to what is going to wake gold up I believe it will be the poor fundamentals of the American economy, buying by China, a possible nuclear war with Iran, and buying by the insiders that know that war with Iran is coming. There is a huge trade imbalance and huge federal budget deficit and Paulson has failed to convince China to revalue its currency so that the trade can be balanced. All this will lay the foundation for a dollar crisis that will see a sudden and severe drop in the value of the dollar in relation to other currencies. The drop will be so severe that other countries like China will probably let the currency fall rather than risk hyperinflation and the destruction of their own currencies by trying to maintain the value of their currency before the dollar collapse. The Bush administration and the top economists that advise the Bush administration all know that America is on the verge of a major recession or depression and they want to shift the blame for this from themselves to another party. That party will be Iran. Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan Administration and has written articles entitled "Why Bush Will Nuke Iran" and "Crisis Is Upon Us" explaining in detail his reasons why he believes that America will be at war with Iran very soon. I have an additional explanation to add to his reasons in why I believe that the Bush administration might want a nuclear war with Iran. The reason is that Bush knows that the American economy is headed for a deep recession or depression because China has definitely rejected the idea of helping to balance America's trade deficit by revaluing its currency by a large amount. Thus, a dollar crisis in the near future is coming. In order to shift blame for the coming depression the Bush administration is going to start a war with Iran which will have severe economic consequences in terms of high oil and gas prices that will definitely push the economy into a severe recession or depression. Thus, the idea is for Iran and its nuclear weapons/power program to get the blame for the economic disaster that is to come. I believe that the Bush administration as well as most of the American economists and White House advisors miscalculated in believing that China would take orders and/or advice from the American government as to its currency policy. China is going to start buying gold with dollars earned through exporting products and that will help support the gold price. I also just read a story about how investors in housing are putting money into stocks…just in time for the big banks to take their own money out of the stock market and put it into gold bullion and gold mining stocks. Also look for insiders to buy gold while outsiders sell their gold. Alex (9/29/06; 21:41:05MT - usagold.com msg#: 147947) Ayn Rand, Kruger Rand ? Sister's? Brothers? Who Cares ? But, this is a good question for all to consider, no? "IS IT that it is impossible to find gold metal sellers for 2000 tonnes (post WAG-'99) CB gold at official inflation-adjusted prices ($ 2000/Oz),within the growing cosmos of global dollar-reserves? Or is a 25 years old POG a bargain for all this CB gold?WHY isn't anybody asking these very logical questions or making some effort for deductive thinking?"What ever happened to Max Rand, Al Rand, Carol Rand, Bruce Rand, Charlie Rand, Laurence Rand, Buddy Rand & The Chicken Hill Ramblers? Did they all know A.G.? Most of them are long gone and their philosophical works are little known since they couldn't find a publisher. But in Carson City they are all household names with many skeletons in their closets and stashes of AU only to be found by researching old treasure maps and Central Bank records. Perhaps their best known works are still emblazoned on the walls of the stalls in Grand Central Station. Is that how Ayn got started?, with a spray can??? Kind regards,Alex (Rand?) Flaccus (9/29/06; 20:53:58MT - usagold.com msg#: 147946) Now let's bring this all back to your vagrant post I do not consider the operators at Riksbank to be people of "unborrowed vision." I consider them playing along to get along. My reading of Ayn Rand would have her including them on the socialist side of the fence, not the free. In fact the exact opposite of what you represent.Once again, I would encourage your reading her books, then posting, not bending her philosophy to your own purposes. You would have a difficult tiime convincing most attuned to her philosophy that the European Union and its machinations is a representation of her rugged individualism. Then again, anything can be sold if it's packaged properly. Right, IH? Or at least so you think. Any nation that sells gold is dumping the national treasury -- the equivalent of selling the family estate. Where is the honor in that? No amount of mental gymnastics can justify it, unless it is absolutely necessary for survival. Flaccus (9/29/06; 20:24:23MT - usagold.com msg#: 147945) Let me put it his way There is no point in writing a novel or complete philosophical treatise unless it is to be digested in its entirety. Thereby, you, the reader, can take it as a whole and apply it to your own life. Is this not the essence of art? Or philosophy? In lieu of it, any of us could write a few sentences and be taken as great artists or philosphers on the basis of a tricky turn of phrase. It has always stuck with me that Picasso is considered by his fellow artists one of the greatest illustrators and free-hand artists of all time. Does that register? What makes the great writers word art or philosophy is the fact it must be presented in its complexity. If you can reduce it to a few sentences, more power to you. It has never been that easy for me.I don't know what any of this has to do with gold but let me reduce it to this:My best advice would be to read "The Fountainhead" and form your own conclusions. Flaccus (9/29/06; 20:09:35MT - usagold.com msg#: 147944) Invisible Hand with respect to St Ayn All writings by the great authors must be understood in the context they are presented. Otherwise they are meaningless. The Invisible Hand (9/29/06; 20:05:52MT - usagold.com msg#: 147943) Riksbank gold – WHY? http://www.free-europe.org/blog/?itemid=56 THE MASTER PLAN FOR THE WORLD!Flatliner (9/29/06; 09:45:44MT - usagold.com msg#: 147922)Riksbank to sell 10 tonnes from gold reserves in next 12 mthsIt's now more than a decade that concerted central banks' (CB) gold action remains uninvestigated.In 1999, there was the Washington Agreement (WAG) and since then some parties to the WAG continue selling. Nobody KNOWS why! Nobody ASKS why!WHY has some CB-gold action occurred at $300/Oz when other CBs act at $600/Oz?WHY are these supposed CB gold sales happening at 35 years price of gold (POG) average of $450/Oz?The CBs were able to lowering interest rates during 25 years from All Times Highs (ATHs) to All Times Lows (ATLs).WHY are those same CBs not able to rise the POG to new ATHs before (supposedly) selling part of this particular reserve against permanently depreciating digits?IS IT that it is impossible to find gold metal sellers for 2000 tonnes (post WAG-'99) CB gold at official inflation-adjusted prices ($ 2000/Oz),within the growing cosmos of global dollar-reserves? Or is a 25 years old POG a bargain for all this CB gold?WHY isn't anybody asking these very logical questions or making some effort for deductive thinking? Aristotle's logic, especially his theory of the syllogism, has had an unparalleled influence on the history of Western thought.http://plato.stanford.edu/entries/aristotle-logic/PRIOR ANALYTICS, by Aristotle, written 350 BC, translated by A. J. Jenkinson Book I, Part IWe must first state THE SUBJECT OF OUR INQUIRY and THE FACULTY TO WHICH IT BELONGS: its subject is demonstration and the faculty that carries it out demonstrative science. We must next define a premiss, a term, and a syllogism, and the nature of a perfect and of an imperfect syllogism; and after that, the inclusion or noninclusion of one term in another as in a whole, and what we mean by predicating one term of all, or none, of another.http://www.gibson-design.com/Philosophy/Aristotle-Organon-3-prior.1.i.htmThere we go:White Hills (9/28/06; 18:01:14MT - usagold.com msg#: 147899)THE MASTER PLAN FOR THE WORLD!melda laure (9/28/06; 23:07:13MT - usagold.com msg#: 147902)Is the Euro the "anti-dollar"? Or is there but one world confraternal order of banksters.@ White hillsAs St Ayn said:"Throughout the centuries there were men who took first steps down new roads armed with nothing but their own vision. . . . The great creators—the thinkers, the artists, the scientists, the inventors—stood alone against the men of their time. . . . But the men of unborrowed vision went ahead. They fought, they suffered, and they paid. But they won."http://education.yahoo.com/homework_help/cliffsnotes/the_fountainhead/14.htmlNo master plan, said you? Cometose (9/29/06; 18:42:20MT - usagold.com msg#: 147942) Cot http://www.cftc.gov/dea/futures/deacmxsf.htm If this is redundant : my apologies.As you can see from the numbers in the report ......Silver relatively not changed Copper ...the longs are getting longer ...and shorts becoming less shortGold ......Becoming more dramatic in its leaning longer in the COMMERCIAL CAMP .... GOLD FINGER (9/29/06; 18:01:04MT - usagold.com msg#: 147941) $$$$ $602.9$$$$ Here is my official entry! "Who or what put gold to sleep?I do not think gold went to sleep! It's just on a short break. If you look at the history gold usually takes a summer break and is down. I think that with the central bankers selling it would likely go down...but it jumps back up. The bull on gold has just begun.........and who or what is going to wake it up?"Up...up..and away! Wow, with all the major players in the game like China and India and the increased demand for gold I think the possibilities are endless as far as the POG is concerned. 1. The dollar is doomed and will be with trillions in debt.2. Gold will always be the main source for Central Bankers reserve.3. Demand from consumers is still high.4. The safety of holding physical out lasts any paper.5. Countries will continue to buy more gold....P.S. Today I received my new gold buffalos. The more the better I say!!Cheers,GF Sundeck (9/29/06; 16:54:45MT - usagold.com msg#: 147940) NAHB Housing Index and S&P Correlation http://www.grandinite.com/2006/09/08/nahb-housing-index-vs-the-sp-500 Ref Sir Thoreauly #147930I started to write something on this and other things yesterday and got bogged down...here are a few quick comments...perhaps more later.............Over the time-frame shown, 1997 - 2005, the correlation looks ominous. However, what the author does not show is what happened before 1997.The NAHB is available back to at least 1985 here:http://www.fxstreet.com/fundamental/market-view/global-fx-daily-european-edition/2006-09-18.htmland if you look at the historical S&P 500 back and beyond here: http://stockcharts.com/charts/historical/then the correlation does not stand up.For example, while the NAHB of about 20 in 1991 truly matches an S&P of about 400 and is in-keeping with the Grandnite relationship, unfortunately the peak in the NAHB of about 74 in 1994 does not correspond to an appropriately high S&P (should be about 1300, but was less than 500). Similarly, if you go back before 1991, the correlation becomes even worse.This kind of thing is often experienced in cross-correlating time-series of different measured phenomena in select time periods: sunspots and weather for example. Such correlations, while appearing very impressive, often break down when considered over longer data sets.The key in attaching significance to "circumstantial occurrences" like this is whether a clear causal association can be identified. In the case of the NAHB and the S&P index, there are undoubtedly common underlying factors that contribute to both in a causal sense, so I would not be prepared to completely discount the Grandnite correlation (at the link). But knowing that the good correlation shown is very specific to the time interval chosen, and clearly breaks down for earlier periods, I would be rather hesitant to read doom and gloom into the stock markets just because the NAHB has taken a dive.But I would be wary nonetheless...More later, perhaps...gotta go...:-) melda laure (9/29/06; 16:39:25MT - usagold.com msg#: 147939) Demand Log-Jam. Gulp. Gasp! That's like 30 yrs worth of Washington Agreement sales.Regarding China's 300Bil $US purchase:If Treasury gets any big ideas of freezing up their dollars, China could always pay in yuan... And as Europe doesn't have enough spare gold sloshing around China will have to go to the little peoples: dubai, Tokyo, Australia, Congo, etc.The result is high physical prices in the "outer rim", and meaningless rigged prices in the first world (at least initially) USAGOLD Daily Market Report (9/29/06; 16:00:45MT - usagold.com msg#: 147938) 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.FRIDAY Market ExcerptsSeptember 29 (from MarketWatch) -- COMEX December gold futures closed down $6.70 at $604.20 on the New York Mercantile Exchange. The contract closed at a three-week high of $610.90 Thursday with analysts betting prices have bottomed in the face of strong overseas demand.The contract climbed for seven sessions in a row to tally a gain of $27.70 from the closing level on Sept. 19.A week ago, the contract closed at $595.40 and it ended last month at $634.20, so it marked a gain of around 1.5% for the week, but a loss of $30 for the month."After going straight up after bottoming around $570, gold is deservingly taking a breather today," said Peter Grandich, editor of the Grandich Letter.The December gold contract fell to a low of $576.60 on Sept. 15. Analysts at research firm Action Economics said the metal is consolidating after a nine-day rally, underpinned by the recovery in oil prices and seasonal physical demand out of the world's number one importer, India.Looking ahead, Grandich said he expects prices to "test critical resistance around $640 next month and if it breaks through, a more dramatic rise to this year's old highs around $735 are in the cards."---(see url for full news, 24-hr newswire)--- MK (9/29/06; 16:00:43MT - usagold.com msg#: 147937) Sierra, All -- Amaranth, Interlocking counterparties Quote from front page article in FT Thursday:"However, the growing integration of capital markets is making it easier to transmit shocks across borders. When Amaranth, the U.S. hedge fund, lost $6 bn this month in US gas markets, this triggered a massive firesale of its loans in London."There might be more of this sort of thing that hasn't surfaced as yet. I would like to know more the use of the word "massive" in this context. Topaz (9/29/06; 15:45:58MT - usagold.com msg#: 147936) Comex Del'y http://www.nymex.com/media/delivery.pdf 1800 first up for Oct is slightly bearish imo as I like to see 2k+ at the get-go for a concerted uptick.When the Options OI updates a clearer picture will emerge though.Those Indians gotta get their Bullion from somewhere right! spikedog (9/29/06; 15:03:44MT - usagold.com msg#: 147935) MKs message about China With $300 billion China could acquire up to 15,500 tonnes of gold.Not that it will happen, but that would be approximately 6 years of the entire world production.....THAT is staggering. WOW!Get some shiny....while you still can. Gandalf the White (9/29/06; 14:34:34MT - usagold.com msg#: 147934) The KING of the HILL report ! TAAAAAAAAAAAAAAAA Based on the slight slippage of the December GOLD Contract (GCZ6) -- the New King of the Hill is:---$$$$ $605.0 $$$$ Titan (9/27/06; 12:30:56MT - usagold.com msg#: 147853)---Sir Titan !!!Congratulations<;-) TownCrier (9/29/06; 14:27:23MT - usagold.com msg#: 147933) MK's Chinese commentary: a permanent location http://www.usagold.com/analysis/kosares-20060929.html If you want to point your internet friends to MK's latest commentary on the changing face of Chinese reserves, please feel free to point them to this permanent address (hyperlink above).http://www.usagold.com/analysis/kosares-20060929.htmlR. melda laure (9/29/06; 13:41:02MT - usagold.com msg#: 147932) (No Subject) The problem is not selling the bonds, as Bernanke can just write a check for that. The problem is who will accept the check'ed funds? Conceivably the ECB could take that check and write their own check to China, but this doesn't solve the problem, only moves it around.All nations need a reserve. If not paper, then gold. Soybeans and sneakers are no substitute, so China does not want to liquidate their reserves, but rather to save them. The ECB needs no forex reserves, in the event, they can kite cheques just like the FED, if needed.The of course, the accounts could just be "frozen", it might cause WWIII as well.Hyper inflation of dollars is already a fact, we only await that the holders should hit the sell button. We could as easily have a runaway POG, where all other papers, commodities, widgets stay relatively the same. glockmaster19 (9/29/06; 13:22:18MT - usagold.com msg#: 147931) $$$$$ $ 626.3 $$$$$$$ The Powers That Be (PTB) put gold and oil to sleep with their manipulations, so Bush/Republicans can have better ratings for the Nov elections.China will wake up gold right after the elections when the PTB run out of short term manipulation ammo.Then the gold price goes to $800 by 12-30-07, Iran gets hit by Israel in '07, China sells the dollar, & WW III starts in Middle East in '07.PS. Awesome analysis by MK on China!!!!!!!! Thoreauly (9/29/06; 13:10:01MT - usagold.com msg#: 147930) @ MK re China http://www.grandinite.com/2006/09/08/nahb-housing-index-vs-the-sp-500 I'm having trouble getting anyone to address this, so let me try one more time:Given that the already close correlation between the NAHB Index and the SPX is strengthening (see link), thus increasing the odds that the latter will follow the former off a cliff next year, will the Fed have any other choice but to cut rates to the bone and print money out the wahzoo in a desperate attemtp to prevent an across-the-board economic meltdown? Would this not then send the dollar into a tailspin, prompting foreign banks (especially the PBOC) to first slow, then halt, and eventually start selling off their vast holding of US bonds? And wouldn't this then crash the bond market, sending yields soaring even as the economy tanks?In other words, can the housing collapse lead to anything other than a hyperinflation depression? MK (9/29/06; 12:22:22MT - usagold.com msg#: 147929) China digs in its heels; what it means for gold http://www.usagold.com/amk/news-group.html Now that we've safely ensconced the FT Comment & Analysis piece on Chinese reserves at the NewsGroup page where it can be easily accessed, I would like to make some additional comments on the subject. At present, I think that the magnitude of what is being presented in this article has yet to hit the markets. When it does there could be some substantial adjustments. Right now the financial world is dealing with minor atmospheric disturbances (recession worries, interest rate concerns, the housing bubble, the elections, etc) compared to what might happen once it sinks-in just what China is actually up to.In the USAGOLD Comment attached to the NewsGroup listing, I stated the following:"China knows that the Financial Times is a primary conduit to policy makers and major market participants in the west, so these comments by officials at the very top of its government were not placed casually or accidentally. Gold is now definitely on the policy agenda for China. This revelation of Chinese establishment thinking, I believe, marks a watershed for the gold market, and something that will have to be factored into decision-making in London and New York's gold trading rooms from now going forward."Here is the key references to gold (and oil), so that you can interpret China's meaning and intentions yourself:"At the top of the semi-public shopping list funded out of existing reserves are raw materials, something confirmed by both Mr Wen and Mr Zeng. The reserves could, for example, pay for importing the oil to fill a long-planned strategic reserve, the tanks for which are near completion. The government is also considering whether to buy gold, considered a hedge against the potential of a falling US dollar."--End quote--Observations:1. In previous public disclosures on China's gold policy, remarks came from functionaries at the central bank, various ministries, academia and the press. These were policy "hints" though; not policy "statements", and although they showed direction they didn't show "intent." The comments in the Financial Times came from China's prime minister and a vice president -- a clear indicator that the many hints out of China about gold now need to be upgraded to "intent." I also found it interesting that Wen and Zeng coupled oil and gold for acquisition. The fact that "oil tanks" for a strategic reserve are now "near completion" indicate just how serious China's intentions really are.2. One of the most far-reaching and potentially destabilizing revelations in the FT article is a "blunt statement" (as characterized by FT) made by Zhou Xiaochuan, governor of the Peoples’ Bank of China that China has "enough reserves." Further on in the article, Xia Bin, an economist at the Development Research Council which advises the State Council, states that China needs about $700 billion (of its $1000 billion) "set aside in reserves in the traditional sense, as a national insurance fund, against financial risk." That infers that $300 billion will be directed to other uses presumably including as outlined above in gold and oil. Keep in mind that China is netting about $20 to $25 billion monthly in new dollar reserves -- an amount that will also be looking for a home should this plan move forward. To give you an approximation of what this might mean, $300 billion would purchase 15,500 tonnes of gold -- the equivalent of almost twice the U.S. Treasury's hoard of roughly 8000 tonnes. It goes without saying that China will not use the full $300 billion to purchase gold, but that gives you a very clear picture of the scope of China's new found wealth. Needless to say, in the face of China's potential requirements, the paltry tonnages being offered through the Central Bank Gold Agreement would become inconsequential.3. It is interesting to note that this article appeared in the Financial Times only a few days after Hank Paulson returned from his trip to China. There is little doubt that the Treasury Secretary attempted to exact some sort of currency understanding while he was there. Instead, he got this article. Here's another extraordinary statement from a member of China's policy elite: "Japan's 15-year recession was very much related to their failure of management of the exchange rate. We will not allow this to be repeated in China." In other words, China blames Japan's caving-in to the United States during the 1980s for its economic woes thereafter. It's digging in its heels. What this means in terms of economic results is very simple. The favorable exchange rate mechanism which insures China's export position will continue. The trade deficits with the United States will continue. The buildup of Chinese currency reserves will continue. Where this all balances out is anyone's guess, but those who believe that the bull market in commodities is about to end because somehow China's demand will abate had better reconsider. 4. The threat to the dollar under these circumstances is palpable. The very fact that China might set loose $300 billion in reserves for starters and something on the order of $20 to $25 billion per month presents a problem which will call upon all the skills Hank Paulson and Ben Bernanke can muster. I can't begin to offer the sort of analysis required to enumerate just what this amount of cash rolling around the world's capital markets will stimulate, but we will all have to consider just how much control the Fed can exert over the money supply and monetary policy under such circumstances. Here's another interesting comment made this time by economist Zhong Wei of China's Foreign Exchange magazine. "We cannot blame the U.S. Treasury," he says. "No one forced us to buy dollars." Perhaps not. The real question though is not who to blame, but how the international economy is going to deal with all those free-floating dollars and the ramifications of China's now stated policy.5. All in all, it would hard for me overemphasize the importance of the revelations in this article for gold owners. Suddenly, many of the questions that have been bandied back and forth for months and even years as to what China might do with its growing dollar reserves are now in the first stages of resolution. I won't deal here with the subject of gold availability because for the gold owner that is a side issue. The real impact will be the counterweight China is about to impose on gold market both psychology and in reality. Indirectly, gold will benefit as investors internationally take a second look at the dollar. Gold will benefit directly from an ever-present demand source acting as a counterweight to supply. Gold's opponents will no longer be able to wave the red flag of central bank sales without someone else raising the specter of central bank gold purchases. And, it is unlikely that the move to gold will stop with China. It will become exemplary -- with the oil-rich Gulf States immediately coming to mind.I am attempting to recall when a set of circumstances lined-up in the past more bullish for gold than these (even if China is unable to purchase gold in the quantities it desires). The Central Bank Gold Agreement comes to mind, but, in my view, that pales to the news coming out of China. This development makes acquisitions in this price range a good bet, in my opinion. It won't be long until others begin to put the China puzzle together. mikal (9/29/06; 12:18:51MT - usagold.com msg#: 147928) Better link to story below http://www.freemarketnews.com/WorldNews.asp?nid=22395 This link should work better. mikal (9/29/06; 12:15:34MT - usagold.com msg#: 147927) Levity & weight http://www.mercurynews.com/mld/mercurynews/news/local/15637478.htm?source=rss Cassidy: So what do we worry about first?THERE'S JUST TOO MUCH ON OUR PLATES THESE DAYSBy Mike Cassidy | Mercury News | Excerpt:"The Democrats won't win back control of Congress.The Democrats will win back control of Congress.Halliburton. Who says there's only one remaining world superpower?Reality TV. If this doesn't let up, we'll all end up on reality TV and there won't be anyone left to watch us.Whether San Jose is a more dangerous place than New York City. Guess it depends on whether you'd rather be shot by a mugger or spray-painted by a tagger.Whether Hewlett-Packard is bugging your phone. I'm just saying.Whether the National Security Agency is bugging your phone. Face it, somebody's bugging your phone.Exploding laptop batteries. Don't actually put your laptop on your lap. Really. Don't.What's that, you say? Don't I have better things to worry about?No doubt. But trust me. You don't want to get me started."Mikal- Covers a lot of bases in an unassuming way, making clear the future belongs to us. MK (9/29/06; 12:00:02MT - usagold.com msg#: 147925) By the way. . . http://www.usagold.com/amk/newsgroup-form.html Here's the registration link, for those who you would like to sign-up for our e-mailed USAGOLD NewsGroup program. It's easy and free-of-charge. Flatliner (9/29/06; 09:45:44MT - usagold.com msg#: 147922) Looks like the numbers are starting to come in http://www.forbes.com/home/feeds/afx/2006/09/29/afx3054362.html Entire note:Riksbank to sell 10 tonnes from gold reserves in next 12 mths 09.29.2006, 06:01 AMSTOCKHOLM (AFX) - The Riksbank said it intends to sell up to 10 tonnes of its gold reserves between Sept 2006 and Sept 2007, in order to obtain a better risk-adjusted return on the its assets. The proceeds from the sale will be reinvested in the foreign exchange reserves (securities denominated in foreign currency). It said the sale is in compliance with the Central Bank Gold Agreement (CBGA) signed by 15 European central banks and running for five years from Sept 27, 2004. During that time, the Riksbank is allowed to sell up to 60 tonnes of gold. To date the Riksbank has sold 25 tonnes of gold, 15 tonnes during the first year of the agreement and 10 tonnes during the second year. The Riksbank's gold reserves currently amount to 160 tonnes of gold. Gandalf the White (9/29/06; 08:57:58MT - usagold.com msg#: 147921) TAA TAA TAAAAAAAAAAAAA, TAA TAA TAAAAAAAAAAAAAAAAAAAAA ! $$$$$$$$$$$$$$ THE "PRICE of GOLD" GUESSING CONTEST!! $$$$$$$$$$$$OFFICIAL CONTEST ENTRY LISTINGS ----$$$ $8,752.0 $$$ The Invisible Hand (9/23/06; 14:30:09MT - usagold.com msg#: 147701)$$$$ $681.1 $$$$ Beamer (9/29/06; 01:14:22MT - usagold.com msg#: 147907)$$$$ $650.0 $$$$ Sundeck (9/22/06; 22:41:10MT - usagold.com msg#: 147683)### $643.0 ### Topaz (9/23/06; 04:57:44MT - usagold.com msg#: 147694)$$$$ $635.0 $$$$ Demosthenes (9/27/06; 21:18:04MT - usagold.com msg#: 147871)**** $634.0 **** jenika (9/28/06; 00:42:53MT - usagold.com msg#: 147878)**** $626.2 **** Goldilox (9/23/06; 01:24:03MT - usagold.com msg#: 147686)$$$$ $620.0 $$$$ Clink! (9/22/06; 21:09:58MT - usagold.com msg#: 147681)*** FRN606.7 *** Smeagol (9/23/06; 01:57:50MT - usagold.com msg#: 147687)$$$$ $606.5 $$$$ balzac (9/27/06; 21:35:50MT - usagold.com msg#: 147873)$$$$ $605.0 $$$$ Titan (9/27/06; 12:30:56MT - usagold.com msg#: 147853)$$$$ $599.9 $$$$ DryWasher (9/24/06; 15:10:57MT - usagold.com msg#: 147742)$$$$ $595.5 $$$$ Federal_Reserves (9/25/06; 19:01:55MT - usagold.com msg#: 147777)**** $590.3 **** arbyh (9/26/06; 09:30:45MT - usagold.com msg#: 147809)$$$$ $577.7 $$$$ Peculium Aurum (9/27/06; 23:55:29MT - usagold.com msg#: 147876)$$$$ $545.0 $$$$ Thoreauly (9/24/06; 10:22:14MT - usagold.com msg#: 147738)===<;-) Gandalf the White (9/29/06; 08:56:02MT - usagold.com msg#: 147920) TAA TAA TAAAAAAAAAAAAA, TAA TAA TAAAAAAAAAAAAAAAAAAAAA ! $$$$$$$$$$$$$$ A "PRICE of GOLD" GUESSING CONTEST!! $$$$$$$$$$$$We shall have a price guessing contest on the closing (Settlement price) of gold for the December COMEX contract (GCZ6) on Thursday, October 5, 2006, ---BUT all entries must be posted to the TableRound before Midnight on Monday, October 2nd, AND ALL ENTRIES must answer THE QUESTION !!The POG Contest winner -- the closest price guess to the actual Settlement Price -- will receive a "Dutch Treat" -- No, No, No ! I mean one of these four different types of The Netherlands 10 Guilders gold coinage. IT (<== See that Sir Smeagol ?) could be a: "King Willem", (Minted 1875 - 1889, Fineness: 0.900 and Actual Gold Content: 0.1947 troy ounce; or a "Young Queen Wilhelmina" (Minted 1892 - 1897, Fineness: 0.900 and Actual Gold Content: 0.1947 troy ounce); or a "Queen Wilhemina", (Minted 1911 - 1917. Fineness: 0.900 and Actual Gold Content: 0.1947 troy ounce); or an "Elder Queen Wilhelmina", Minted 1925 - 1933, Fineness: 0.900 and Actual Gold Content: 0.1947 troy ounce) !!!! IT just depends which one SIR MK finds first when he goes down into the dungeon. <;-)Please go to the USAGOLD link at: http://www.usagold.com/gold-coins.html to view these coins.There will be also be two runners-up prizes for the next closest prognostications --- each winning an one ounce pure Silver Canadian Maple Leaf coin. ( <=== See that Sir Rich ?)The QUESTION -- (Put on your THINKING HATS !) -- is: "Who or what put gold to sleep, and who or what is going to wake it up?"Answers should be in 30 words or more.===THE RULES -- (We MUST have RULES !!) --- PLEASE READ !!1) The Winner is the poster with the Price Guess closest to the Settlement price of the COMEX (most active) December 2006 Gold Contract (GCZ6) on the date of Thursday, October 5th, 2006. 2) Price "Guesses" shall be stated in Dollars and tenths !(Such as $ 666.6) 3) "Guesses" shall be SHOWN in the SUBJECT BOX location AND enclosed in markers of "Dollar Signs" so as to be OFFICIAL !(Such as $$$$$ $ 666.6 $$$$$$$ )4) ONLY one "Guess" per Knight or Lady is allowed, and once that "Guess" has been "taken" -- no one can duplicate it !! FIRST COME has rights to that "Guess".5) HOWEVER, All "Guesses" MUST be posted before the clock in Denver strikes MIDNIGHT (24:00) on Monday, October 2nd, 2006.6) AND MOST IMPORTANTLY (as this part MUST accompany your Price prognostication)--- In order for your entry to be valid, YOU will need to answer "THE QUESTION", in 30 words or more.---LET the CONTEST continue !!<;-) Gandalf the White (9/29/06; 08:55:02MT - usagold.com msg#: 147919) ATTENTION, Sir Beamer !!! The Hobbits "THANK you" for the nickel !They understand that it has nearly tripled in price in the last year, and they have gone to trade it for IT.<;-) Goldilox (9/29/06; 08:16:32MT - usagold.com msg#: 147918) Middle-class families in worse shape than ever, study finds http://money.cnn.com/2006/09/28/news/economy/middle_class.reut/index.htm?postversion=2006092816 snip:cal families have not stashed enough money; struggling to pay for home, insurance, and education according to Center for American Progress.September 28 2006: 4:41 PM EDTWASHINGTON (Reuters) -- The typical double-income family is worse off financially than ever, a study released Thursday said, warning that few Americans have saved enough to brace for financial setbacks.Middle-class families are struggling to pay for a home, health insurance, transportation and their children's college with wages that have not kept pace with higher prices, according to the study by a think tank headed by a former top aide to President Bill Clinton.The middle class's financial condition has been a key issue ahead of the November elections, as Democrats warn that this group is fast losing economic ground amid skyrocketing prices and tax cuts that offer them little benefit."In our estimates, it's becoming harder for families to afford what we consider a typical middle-class lifestyle," said economist Christian Weller of the Center for American Progress, the political think tank headed by John Podesta, a former Clinton chief of staff.Weller cautioned that while Americans are taking on more debt to cover higher costs, wages have not kept pace.The majority of Americans have not socked away enough money to brace for financial setbacks such as a job loss or a medical emergency.According to the study, less than a third of all American families have accumulated income equaling three months of their wages. The trend is particularly pronounced among the 60 percent income distribution that makes up the middle class: those with dual incomes earning from $18,500 to $88,030 a year.From 2001 to 2004, the proportion of middle-class families that has saved three months' worth of income dropped to 18.3 percent from 28.8 percent, the study said.Higher prices for a range of things - including health care, energy, transportation, food and education - have put Americans in this position as corporate profits have risen, the study said.It said, that five years into the current economic recovery, average job growth is one-fifth that of previous business cycles and wages are flat when inflation is factored into the equation.To maintain day-to-day consumption, families have taken on a record amount of debt, equal to 126.4 percent of disposable income in the first quarter of 2006, according to the study.Commenting on the study, SEIU Labor Union President Andy Stern said, "Of the total amount of our economy and income, we have the greatest share going to profits in modern history and the least amount going to wages in modern history.""For most working Americans, things are far worse than any time certainly in recent history and at a time of an incredibly growing economy." said Stern, whose union represents 1.1 million health care workers.-GoldiloxThis timely tidbit brought to you by the Mena, AR, third-in-command. Just keep borrowing, folks, "deficits don't matter". Goldilox (9/29/06; 08:09:37MT - usagold.com msg#: 147917) PMs Retesting the floor Well, Rich,It's a good thing you put that $580 disclaimer on your "foundation work", as $600 is still a little "tenuous".Maybe we should have paid in specie! Goldilox (9/29/06; 08:04:50MT - usagold.com msg#: 147916) USDX http://charts-d.quote.com:443/1002980432830?User=demo&Pswd=demo&DataType=GIF&Symbol=DX00Y&Interval=10&Ht=600&Wd=800&Display=2&Study=MA&Param1=13&Param2=0&Param3=&FontSize=10 Gap up on the news that income is up, savings are down. I guess the deficit life-style is still working! Goldilox (9/29/06; 08:02:31MT - usagold.com msg#: 147915) More Profiteering on public resources http://www.woai.com/news/local/story.aspx?content_id=46F1852D-699F-4AF0-B62C-DF928AAE5831 snip:AUSTIN (AP) -- Previously secret parts of a contract to develop the Trans-Texas Corridor that have been a contentious issue in the governor's race are going to be made public. That's what state officials said today.The decision was announced at a Texas Transportation Commission meeting where a plan for the first phase of the proposed corridor was revealed. Because that plan is an update of an earlier proposal by the consortium Cintra-Zachry, all parts of that earlier document -- including those that were kept secret for proprietary reasons -- will be released. That's what Amadeo Saenz, assistant executive director for engineering operations at the state transportation department, says.He says that consequently, a transportation department lawsuit attempting to keep the contract secret will be dropped.Republican Governor Rick Perry, who proposed the Trans-Texas Corridor in 2002, has come under fire from opponents and anti-corridor activists in part because of the secret contract. Some are also mad because the giant toll road will take their land.-GoldiloxWhile the Federal gov't, keeper of the printing presses, finds its relief in covert (now that M3 is discontinued) money creation, bankrupt state and local entities balance their books by selling off public works to profiteers. Think Buffett and the gas pipelines and generating plants, and add that to the burgeoning toll road business, and those who say we are selling the US piece-by-piece to private interests, foreign and domestic, are not far off. The SD county employees union lost a serious bundle in the Amaranth affair, but there was not peep one about it on the local news. Only one reporter responded to my news tip, suggesting that it wasn't newsworthy, because ONLY some rich retirement funds were affected. HUH? When I reminded him that the county general fund is obligated to make up the shortfall, he went away and stopped responding.I guess with the previous fund directors under indictment, they'll only go out on that limb so far. If the replacement directors are found to be crooked or stoopid, the public might the previous ones back!Who says profigate spending and government deficits "don't matter"? the VP? Cometose (9/29/06; 06:33:44MT - usagold.com msg#: 147914) DEC GOLD Last quoted 606.5 up a dollar ten Cometose (9/29/06; 06:19:56MT - usagold.com msg#: 147913) coloring outside the lines http://stockcharts.com/def/servlet/SC.pnf?chart=$gold,PLTADANRBO[PA][D][F1!3!!!2!20]&pref=G This chart represents sloppy kindergarden type coloring OUTSIDE THE LINESThere is SPILLOVER here ............that wouldn't be here at all if it were not for the meddling of ..........the SCAMSTERS.......Unfortunately , they have the biggest chip stack .......so we wait until the time is right and ALLOW THE ELEVATOR to arrive and GET on WHEN IT IS GOING UP There is not much time left for this ' SLACK " to to continue in this market.......But the ELECTION and the (HEADS ARE GOING TO ROLL) incumbents wait and hope in the WINGS( wings of EVIL CRAFT) .........that all the KINGS HORSES and ALL THE KINGS MEN can put YOU KNOW WHAT .........back together again ........While Jack fell down and LOST HIS CROWN and JILL WENT SHOPPING .................( while TV BLEW UP IMAGES of BROKEN PROMISES AND DREAMS in FAMILY (TRAGEDY) culturally feeble hemophilia)THE REPUBLIC WAS STOLEN from us ............just before the MUSIC DIED TownCrier (9/29/06; 03:52:56MT - usagold.com msg#: 147912) spotlight, on the subject of our reserve currency status NO interest, etc.????How can you say this? Is it even possible that you have read NONE of the writings over the past years by the likes of Another, FOA/TrailGuide, MK, Aragorn, ORO, Journeyman, Aristotle, Miner49er, Mr. Gresham, Belgian, Invisible Hand, Flatliner, kilo, 968, melde laure, Sundeck, Smeagol, Buongiorno!, Goldendome, myself, and frankly, just about everyone else who has posted or still posts here on a regular or semi-regular basis? Have you read nothing from the Forum Archives older than today?Have you read nothing from the Gold Trail? Nothing from the Hall of Fame? Nothing from the Gilded Opinion?R. TownCrier (9/29/06; 03:33:04MT - usagold.com msg#: 147911) Vietnamese gold rates rocket with global hikes http://www.thanhniennews.com/business/?catid=2&newsid=20598 September 28, 2006; Vietnam --...Forecasts from international banks and investment funds said that world gold prices would continue to rise through 2006 and further into 2007. It is estimated that gold will end up averaging around $633 an ounce for 2006 and $753 for 2007.According to market analysts, key factors supporting the rise in the gold prices, such as geo-political tensions, high energy prices and investment demand are unlikely to be resolved quickly, meaning gold will continue to rise.Additionally the gold demand is increasing in huge markets like Russia, China and India.In particular, India is mulling increasing gold imports by 10 percent to 720 tons this year to meet the country's soaring demand.^---(from url)---^OK, taking those average price figures as if they were reasonably bankable (meaning, reliable information), the predicted gains from the average price in 2006 to the average in 2007 would be 19 percent.And, recognizing that we are currently sitting BELOW the average price for 2006, the predicted gains from this current lower point up to the average price for 2007 would weigh in at over 25%.Now obviously, to average $753 though the year, recent price performance trends show us that gold spends much of the early half of the year below the average, and then finishes that latter half of the year rising strongly above the average. So... if indeed $753 proves to be a reasonable prediction for the average price, how much higher will it end the year 2007? Somewhere nicely north of $800 would seem reasonable -- assuming these calm market conditions prevail. From today's $600 price level, that would translate into gains of over 33%.What other market is offering realistic predictions of that sort of return? Certainly none other that I can think of that, no matter what sort of turmoil actually unfolds, still leaves you comfortably sitting at the end of each day upon the tangible security of your physical gold.Again, what alternate savings plan can even come close to competing with this?!(Thanks for the article, G.)R. spotlight (9/29/06; 02:55:01MT - usagold.com msg#: 147910) Reserve currency GoldiloxI congratulate you on your brief observation regarding the dollar reserve currency status.This is a subject that I have posted about many tiimes over the years, but received no interest.I would like you to address the subject in more detail if you would regarding the advantage of having the worlds only reserve currency. It seems it is treated as a well guarded secret by the media and even economists who should have written on the subject long ago. It is my firm belief that our reserve currency status and its abuse, is the root cause of most of our problems, especially our deficits.Thank you... Topaz (9/29/06; 02:29:01MT - usagold.com msg#: 147909) Dollar-v-Euro. To even a moderate sceptic the birth and continued functioning of the Euro is only possible if "permitted".Similar to Democracy, we're presented with this two-headed Ogre where the "heads" continually bicker ...but the body is operated from elsewhere, our $-v-E currency war could well be for consumption only.I must admit to having SOME little faith that the above is not completely true though. I simply can't imagine the Bureaucrats in 11 European Sovereign Countries virtually handing said Sovereignty to Brussels on the basis of the Growth and Stability Pact.There is a plan B and it has all to do with Gold ...of that I'm sure.If not, someone got a big number done on them IMHO! Goldilox (9/29/06; 01:53:28MT - usagold.com msg#: 147908) debate? @ melda laure,"Truly a master of words. Under no circumstance should Our President risk debating him on the same stage."I wonder if he knows how to pronounce "nuclear" in his own language. That might win a few debate points in itself.But then, does he have "policy experts" interrupting him in his earpiece every ten seconds? Beamer (9/29/06; 01:14:22MT - usagold.com msg#: 147907) $$$$$$ $ 681.15 $$$$$$$$ In response to the question, 'Who or what put gold to sleep and who or what is going to wake it up?', I really can't say because the gold market remains clouded in mystery due to the lack of transparency. My guess is that the rather rapid rise in the price of gold to $730 was brought about by the necessity of stockpiling gold for both of the ETFs that are about to be introduced by India and China. Both countries favour gold as their primary asset for wealth protection. When the first wave of buying stopped, the price of gold fell suddenly. A second wave seems to have taken place from $540 to $680. I now believe that the stockpiles are in place. I would speculate that the price of gold will wake up when these two ETFs open their doors for business. If they each manage to take 500 tons of gold off the markets, each and every year, then the price of gold will continue to rise for many years to come. Far be it for me to say that these events will take place yet I have a strong sense that it may come to past. melda laure (9/29/06; 00:57:17MT - usagold.com msg#: 147906) Sweet as honey, bitter in the dregs. Well said sir Gold Finger. The train will not wait.The chinese will not trade dollars for euros.They will compete in Africa: Pots, Pans, Shoes, and Europe will counteroffer with paper? Henkels? Bruno Maglis?After 1929, america's taste for stocks languished until the 80's and 90's. After the swallowing the dollar, the world's taste for paper will languish too: sweet as honey, bitter in the dregs. They will hunger for stronger meat, for more solid food.Gold will have it's day in the sun, Cryptocracy or no. But the bankers will return, (we will be ready for them.) melda laure (9/29/06; 00:40:10MT - usagold.com msg#: 147905) Iranian President spins fables about freedom at the UN http://www.globalsecurity.org/wmd/library/news/iran/2005/iran-050918-irna02.htm Sorry for the halloween post. Perhaps a few small yellow fishes in a golden pot for treats, Sir Smeagol? Too many of the big ones and we wont be able to tell you apart from the "Fat One".(not to worry, the shining eyes will give it away)... wink.SNIP:All public figures, like all actual human beings, have a little box of horrors squirreled away somewhere. It is full of the horrors that they think in their heart of hearts and only let on to those who are close to them, those, in fact, who think the same.END.(warning inflamatory stuff linked, he doesn't call the column "a special place in hell" for naught.)http://www.haaretz.com/hasen/spages/764193.htmlI try to hide my little box, Sir White Hills but I dont always succeed. When the next battle is joined, the west may find the Pope pronouncing us recreant, interdict; alas it will be the last act of the last steward. There is no Gandalf to stop this battle of five armies, no king to return to the throne. The POG will fall until there is not so much as a nugget or jump ring left in the coin shop."Freedom, by definition, cannot be imposed." - President George W Bush, speaking before the UN.A loaded statement if ever there was one. It applies equally to free markets. I will admit my hypocracy: were the target north korea, I would have no misgivings. Perhaps if Iraq had turned out better I also would feel less disturbed about the prospect for "fixing" Iran.But dont listen to me. Listen to what Ahmadinejahd is saying as he tries to woo the rest of the world to his side, and as he speaks, do not think as an american, but as a citizen of Ghana, of Argentina, of Guatemala, of Indonesia, of Germany, of Ireland, and realize that he maketh us all too look like fools, as he blithely throws in masonic allusions about the pillars of Justice and Truth. Doubt not that well will he play the victim of this tragedy.SNIP:"On the other hand, the prevalence of military domination, increasing poverty, the growing gap between rich and poor countries, violence as a means to solve crises, spread of terrorism, specially state terrorism, existence and proliferation of weapons of mass destruction, the pervasive lack of honesty in interstate relations, and disregard for the equal rights of peoples and nations in international relations constitute some of the challenges and threats......."The Almighty changes the fate of no people unless they themselves show a will for change"... "We believe that a sustainable order, nurturing and flourishing peace and tranquility, can only be realized on the two pillars of justice and spirituality.END SNIP.It may be all lies and deceit, but it hath greater ring of truth on his lips than on anything Mr Rangel or Ms Pelosi or Mr Bolton replied with, admittedly not on the streets of america, but what about the streets of other nations?Depending on the will of other nations and the control of the bankers, an Iran Adventure could easily be the dollar catastrophe. But here I think Clive Maund makes a miscalculation for it will be not the end of JPM, but the beginning of a total PHYSICAL TRADE embargo on the US. Can three days of nukes do to Iran what 3 weeks of bombing could not do to Lebannon? We must be swift, diplomacy is Ahmadinejad's greatest weapon: he already knows that scalar weapons are the future:SNIP:"The bottom line is, we do not need a bomb, unlike what others think. Regretfully, some believe that the nuclear bomb can be effective in international relations. They're wrong, because the time for nuclear bombs has ended. We know that.... If the nuclear bomb could have created security, it would have prevented, perhaps, September 11th. If the nuclear bomb could have done anything, it could have, perhaps, stopped the Palestinian Intifada...."And let me say that at the same time, we are Muslims. And based on a decree given by the leader of the Islamic republic, moving toward having a nuclear bomb is banned and forbidden. Therefore, no one has the right to move in this direction. In our country, it is not permissible."END SNIPhttp://antiwar.com/justin/?articleid=9732Truly a master of words. Under no circumstance should Our President risk debating him on the same stage.Of course if the nukes fall on Tehran we can always enjoy booing at the french when Le MOnde prints "today we are all Persians".SNIP:This tremendous play, a symphony of cross purposes, might have been written to illustrate Francis Bacon's maxim that revenge is a kind of "wild justice." If it punishes the guilty, it also claims the innocent. As Shakespeare says elsewhere, "Thou shalt have justice — more than thou desirest." Or as Hamlet puts it almost flippantly, "Use every man after his desert, and who should 'scape whipping?" The Ghost, then, is a voice not of justice, but of evil. He belongs among Shakespeare's fatal seducers, with Cassius, Iago, and the Weird Sisters who mislead Macbeth. ENDhttp://www.sobran.com/columns/2006/060912.shtmlIf we save the west from terror, only to save the dollar then we have but saved the ring from the fire. Well did Mr Powell say we are losing sight of the moral basis of our cause. At least here in this hall the fog of words is not so thick, and the goals of Free-gold and a Just International Monetary order are clear. But in the world of the UN, our team seems totally bewildered.(My apologies for the long post, and take the words of the Iranian President with a pinch of salt, in the eyes of his own people he is no saint.) Goldilox (9/29/06; 00:30:01MT - usagold.com msg#: 147904) Anti-dollar? @ melda laure,Well spake!I wonder about the euro, as well, because I believe the rising Asian tiger is not likely to allow another western FIAT monopoly on world commerce. The world seems to be waking up to the harsh reality of imbalances created by a one-sided "reserve currency".I have always shuddered at the faux political battle of "liberal vs. conservative", as none of the esteemed leaders who brandish those titles about seem to have even a simple dictionary understanding of what they mean. Just labels for the media, I suppose.The real battles seem to go on between different flavors of "statists" , and perhaps I am just as guilty of misnomer to suggest that while the "statists battle each other for power, the regular humans struggle to "just live".Unfortunately, that's another oversimplification, but it seems those addicted to power over others live by the credo that "there is no life without state", while others, in various ways, remind us "there is also no state without life."Geopolitical turmoil may be good for PoG, but it has always proven to be harmful to life, liberty, and pursuit of happiness.While I am not as optimistic as TC, I certainly hope for a less destructive "monetary evolution", as opposed to the alternative. GOLD FINGER (9/29/06; 00:16:18MT - usagold.com msg#: 147903) .......Now back to GOLD........ Why is gold so important?Why do so many want it?Why do banks hoard it?Why dose every major department store have rows and rows of GOLD?Why do governments make coins from it?Why do people like to wear it?Why do people worship it? (The Golden Calf)WHY?WE do not need a devil to define why! We do not need a corrupt politician.We do not need the dollar.We do not need a drunk or mentally ill person.We do not need the Federal Reserve.We do not even need to debate it.Logically GOLD IS:Lasting value. A store of wealth.A medium of exchange.An emotional metal.POWERFUL.Will only increase in value.Will always be respected.Will always have VALUE!So....My fellow forum members....PUT YOUR MONEY WHERE YOUR MOUTH IS!!GF ViewYesterday's Discussion.
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