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Welcome to the USAGOLD Gold Discussion Archives. The archives of this gold discussion forum are a treasure trove of information to educate investors about protecting their wealth through portfolio diversification with private gold ownership. The discussion forum also covers the wider issues of the past, present, and future role of gold in international monetary policy and the dynamics of the modern gold markets...   (Discussion Forum Hall of Fame) (The Gold Trail) ("Thoughts!" by ANOTHER)   The opinions posted by all guests are expressly their own and do not necessarily represent the views of the management or staff of USAGOLD - Centennial Precious Metals. The hosting of the public discussion shall therefore not be construed as an endorsement by USAGOLD - Centennial Precious Metals of any of the opinions posted here.

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ARCHIVED DISCUSSION FROM 3/31/2003
All times are U.S. Mountain Time

(Yesterday's Discussion.)

Usul (03/31/03; 23:55:51MT - usagold.com msg#: 100658)
Nikkei May Not Gain In Apr-May This Yr
http://sg.biz.yahoo.com/030401/15/39n56.html
"...market still lacks strong buyers; overseas mutual funds selling Japanese stocks to meet rising fund cancellations; public pension fund only potential buyer..."


FreeWillie (03/31/03; 22:57:01MT - usagold.com msg#: 100657)
How is Euro Different from Dollar? (Hi, Belgian)
I began reading FOA's Gold Trail, and finished the first section (read it twice). As I told Belgian before: not much I could disagree with.
<P>
But I have a question (or two): How is the euro supposed to be different from the dollar? It is still a fiat currency. Without gold convertibility, how will it avoid having to battle gold later in its life when its proliferation has allowed the euro zone to export *its* inflation instead?

<P>
Secondly, is the alleged 15% gold backing of the euro a legal requirement? (i.e., is it laid down in its charter, or the ECB or BIS charter?) or is it simply an unenforced committment?

Does anyone have any input on this topic? Where has it been discussed before?

THANKS, everyone!

FW

Toolie (03/31/03; 21:57:40MT - usagold.com msg#: 100656)
1918 Influenza Timeline
http://www.pbs.org/wgbh/amex/influenza/timeline/index.html
Snip;
• Boston registers 202 deaths from influenza on October 2. Shortly thereafter, the city canceled its Liberty Bond parades and sporting events. Churches were closed and the stock market was put on half-days

• October 1918 turns out to be the deadliest month in the nation's history as 195,000 Americans fall victim to influenza.

Toolie; Given the nature of the society today compared to that of 1918, it would seem to me that a "Spanish Flu" type virus could spread more widely and faster than it did then.
It might not be a bad idea to be a little more conscious of germs until someone gets a handle on the SARS virus.




timbervision (03/31/03; 21:51:47MT - usagold.com msg#: 100655)
Gold News
http://www.news.com.au/common/story_page/0,4057,6219951%255E1702,00.html
A LANDSLIDE has buried a goldmining village in Bolivia, leaving four people confirmed dead and many more feared buried under the rubble.


timbervision (03/31/03; 21:47:56MT - usagold.com msg#: 100654)
Belgian
Thank you again Belgian. What will the currency life be like for the countries that do not join the EURO? Will "Free Gold" be a linking stability? Do you imagine that a country like Canada would join the EURO group? ...or the USA?





knotakare (03/31/03; 21:43:22MT - usagold.com msg#: 100653)
@Sector re Global Outlook
Thanks Sector for your always interesting posts on this great forum. You are a very good writer, and have an amazing ability to link numerous facts and ideas in your line of reasoning. I think most Americans would be totally shocked at our current situation, if they had the benfit of reading and understanding your posts.

I am finding that I want to read more of the geopolitical analysis on the net, as I have read a lot about the financial markets over the past 4 years, and some of it gets pretty redundant. But I continue to want to learn more about gold ownership and about curencies. Keep the analysis coming, many of us really appreciate your efforts.



Black Blade (03/31/03; 21:38:50MT - usagold.com msg#: 100652)
War watching slows sales
http://money.cnn.com/2003/03/31/news/companies/retail.reut/index.htm

Snippit:

NEW YORK (Reuters) - Several major retailers said Monday they expect weaker-than-anticipated sales as shoppers remain home to watch coverage of the ongoing war in Iraq.

Black Blade: Now I have heard some pathetic lame excuses before why consumers are shopping but gimme a break! This excuse is pathetic. Usually it's some lame excuse like "the weather", but people are too busy watching television to shop? The consumer is spending less because he/she has less to spend and they are worried about how long they will have jobs. Companies are laying off workers and costs are rising (energy and food for example – "core rate" be damned).



Black Blade (03/31/03; 21:30:00MT - usagold.com msg#: 100651)
European Consumer Confidence Falls to Nine-Year Low
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Economies&s1=blk&tp=ad_topright_econ&T=markets_box.ht&s2=blk&bt=ad_position1_economies&box=ad_box_all&tag=economy&middle=ad_frame2_economies&s=APogavRWORXVyb3Bl

Snippit:

Brussels, March 31 (Bloomberg) -- Consumer confidence in the dozen nations using the euro fell to the lowest in more than nine years in March as the Iraq war discouraged companies from hiring, increasing the risk of the $7 trillion economy contracting. A European Commission survey of 25,000 consumers showed a confidence index dropped to minus 21 from February's minus 19. The index reached a low of minus 29 in August 1993 and a high of 3 in April 2000. ``With the war, it's not easy,'' said Korotoum Sirima, who is looking for a job. The 23-year-old hairdresser by profession said she hasn't worked for ``a while'' and is being ``very careful'' with spending. ``More people are unemployed, so it becomes even harder to get one of the few jobs that are left.''

Black Blade: It doesn't look very good in Europe either.



Black Blade (03/31/03; 21:24:39MT - usagold.com msg#: 100650)
Japanese Industrial Output Posts Largest Drop in 14 Months
http://story.news.yahoo.com/news?tmpl=story2&cid=808&ncid=808&e=6&u=/dowjones/20030331/bs_dowjones/200303310349000599

Snippit:

TOKYO -- Japanese industrial production was surprisingly weak in February, posting its largest drop in 14 months, the government said Monday, showing the manufacturing sector continues to struggle. Output fell 1.7% from the previous month, the Ministry of Economy, Trade and Industry said. That nearly wiped out January's rise of 2.0%, and was a much steeper drop than a 0.8% decline expected on average by economists surveyed by Dow Jones Newswires.

Black Blade: The consumer is tapped out. Many are just eating their home equity to survive. The Japanese economy is an export driven economy. They have no natural resources and depend more than anyone else on consumers who are able and willing to spend. Those consumers are pulling in their horns now as the global economy slips into depression. It's going to get very ugly from here on out.



Black Blade (03/31/03; 21:16:09MT - usagold.com msg#: 100649)
A Dysfunctional World by Stephen Roach (New York)
http://www.morganstanley.com/GEFdata/digests/latest-digest.html#anchor0

Snippit:

In these headline-driven days of angst, financial markets have lost any sense of real purpose. One day they're up, the next day they're down -- and with unprecedented vengeance. On Friday March 21, for example, world equity prices surged by 2.1%, whereas on the following trading day they plunged by 3%. That was one of the greatest two-day whipsaws on record. Notwithstanding the turbulent behavior of financial markets, I believe the trials and tribulations of an increasingly dysfunctional global economy remain pretty much the same. The war in Iraq changes little of that.

To me, the big global macro story is still one of mounting and unsustainable imbalances in a US-centric world. It's been a one-engine global economy since 1995. Growth in US domestic demand averaged 4% over the ensuing seven years, double the 2% gains elsewhere in the world. Courtesy of bubble-induced wealth effects, Americans have spent to excess. At the same time, reflecting deepening structural constraints, demand has remained decidedly subpar in Japan and Europe. As a result, America has accounted for literally 64% of the cumulative increase in world GDP over the 1995 to 2002 interval -- double its share in the global economy.

This dichotomy is hardly costless, or sustainable. A saving-short US economy has had to import surplus saving from abroad -- mainly from Asia but also from Europe -- in order to sustain economic growth. And the US has had to run a massive balance-of-payments deficit in order to attract that capital. America's current-account deficit surged to an annualized $548 billion in the fourth quarter of 2002, a record 5.2% of GDP. The financing of such a shortfall requires $2.2 billion of capital inflows each business day -- hardly a trivial consideration for a low-return, post-bubble US economy. Nor is this a stable situation. As America's federal budget goes deeper into deficit, the country's net national saving rate -- consumers, businesses, and the government sector, combined -- could easily plunge from a record low of 1.6% hit in late 2002 toward "zero." If that occurs, the US current-account deficit could approach 7% of GDP -- requiring about $3 billion of foreign financing each business day.


Black Blade: Wow! More cheerful analysis from Stanley Roach. The US dollar is doomed under this scenario. War or no war, foreign capital can't keep up with this increasing current account deficit.



Mr Gresham (03/31/03; 20:53:31MT - usagold.com msg#: 100648)
Cytek
Time traveler! That was great -- thanks!

(Another good reason to buy and hold -- the right shiny stuff, of course. If you got on and off the train at exactly the right stations, why, they'd haul your rich a** in, wouldn't they? Take a few dips with the rest of us comatose dummies and you'll thank yer unlucky E-waves some day.)

sector (03/31/03; 20:32:07MT - usagold.com msg#: 100647)
@knotacare "Divisions" in America
US Demonstrations are the least of our concerns
Like it or not, there is a World economic coalition forming against the US and UK. The US can't go back to the nation it was on March 19th.

The economic coalition will take some time to fully materialize because of oil derivative contracts priced in dollars that must be safely terminated. But happen it will. The problem is that the US imagines a victory in Baghdad and the facts weigh against it. Before March 19th my broker scoffed at the notion that we might not subdue the big city, today he asked for url links.

Our future commerce potential has been altered. Who will be our new partners? Spain with 91% vehementlt opposed. Eurpoe?. Indonesia? Latin America [almost 100% Catholic]?

During the Iran/Iraq war Basra was besieged by 1 million troupes of various caliber. It didn't fall. Moreover, there was not a hope of World public opinion coming to the rescue then as there definitely is now.

Light casualties so far and an avoidance of direct infantry assault by the US has only delayed the end game and allowed Saddam to better prepare. The CIA keeps trying to bribe his generals and they aren't biting. This is a very big clue that they know something we don't. I was always worried about the casual nature of Saddam this time around.

For example, the Saddam Hussein Airport is fully functional, receiving supplies and travelers in and out, 24 hours a day. This canard is the residue of the failed Pentagon/Neocon theory that there will somehow be an uprising and the regime will be magically "Changed". By sparing the city's infrastructure [Bridges, roads etc] the "Coalition" hopes to win the hearts and minds of the Iraqi people. The "Shock and Awe" boys are still draped in their own hubris. The sanctions made Saddam less evil than the US.

The cities of Najef, Nasiyria, Karbala and especially Basra haven't fallen because the US/UK are in avoidance mode. [BTW this is the hallmark of a nit-picking micro-manager like Rumsfeld—he confuses activity with results]. They have them surrounded [sort of] but are not shelling the inner cities for obvious reasons and don't want US casualties in street fighting. A multiple siege strategy was certainly not in the original plan and calls for much more armor and men.

Thus, we see a dance underway with only one partner dancing while the other shuffles a bit to reposition some tanks. Most were already in place...inside the big cities.

The World public opinion war is lost according to Middle East expert Richard Searle. Why all this continued focus on spin and CNN is odd. To what audience are they playing?

As the civilian dead mount rapidly during ultimate direct assault tactics, the World pressure to end the invasion will build quickly perhaps bringing in even more combatants as Syria seemed to do today.

I spoke with an acquaintance at the gym as he exalted about US progress. How will we get through city-based, modern anti-tank weapons? He seemed not to hear the question. He answered...We have night capabilities!

We still might "Win". But at what cost?


Cytek (03/31/03; 20:03:34MT - usagold.com msg#: 100646)
'TIME-TRAVELER' BUSTED FOR INSIDER TRADING

Wednesday March 19, 2003
By CHAD KULTGEN

NEW YORK -- Federal investigators have arrested an enigmatic Wall Street wiz on insider-trading charges -- and incredibly, he claims to be a time-traveler from the year 2256!

Sources at the Security and Exchange Commission confirm that 44-year-old Andrew Carlssin offered the bizarre explanation for his uncanny success in the stock market after being led off in handcuffs on January 28.

"We don't believe this guy's story -- he's either a lunatic or a pathological liar," says an SEC insider.

"But the fact is, with an initial investment of only $800, in two weeks' time he had a portfolio valued at over $350 million. Every trade he made capitalized on unexpected business developments, which simply can't be pure luck.

"The only way he could pull it off is with illegal inside information. He's going to sit in a jail cell on Rikers Island until he agrees to give up his sources."

The past year of nose-diving stock prices has left most investors crying in their beer. So when Carlssin made a flurry of 126 high-risk trades and came out the winner every time, it raised the eyebrows of Wall Street watchdogs.

"If a company's stock rose due to a merger or technological breakthrough that was supposed to be secret, Mr. Carlssin somehow knew about it in advance," says the SEC source close to the hush-hush, ongoing investigation.

When investigators hauled Carlssin in for questioning, they got more than they bargained for: A mind-boggling four-hour confession.

Carlssin declared that he had traveled back in time from over 200 years in the future, when it is common knowledge that our era experienced one of the worst stock plunges in history. Yet anyone armed with knowledge of the handful of stocks destined to go through the roof could make a fortune.

"It was just too tempting to resist," Carlssin allegedly said in his videotaped confession. "I had planned to make it look natural, you know, lose a little here and there so it doesn't look too perfect. But I just got caught in the moment."

In a bid for leniency, Carlssin has reportedly offered to divulge "historical facts" such as the whereabouts of Osama Bin Laden and a cure for AIDS.

All he wants is to be allowed to return to the future in his "time craft."

However, he refuses to reveal the location of the machine or discuss how it works, supposedly out of fear the technology could "fall into the wrong hands."

Officials are quite confident the "time-traveler's" claims are bogus. Yet the SEC source admits, "No one can find any record of any Andrew Carlssin existing anywhere before December 2002."

Weekly World News will continue to follow this story as it unfolds. Keep watching for further developments.


Cytek - Yuk, Yuk, did anybody ask him what the POG was going to be at the end of 2003.


Cometose (03/31/03; 19:15:05MT - usagold.com msg#: 100645)
REMEMBER BEIRUT
REMEMBER BEIRUT.........

knotakare (03/31/03; 19:05:41MT - usagold.com msg#: 100644)
divisions in America
I just heard a military analyst, former General, say that he thinks we can dipose of most of Sadam's Revolutionary Gaurd, before the allies go into Bagdad. I think that this is very unlikely, they know they can spread out and avoid large losses by hidding in Bagdad.

My point of this post, is that we will see violent protests in the streets of the US as early as this Summer. I think a lot of Americans will not stand for the destruction of Bagdad and the widespread destruction of our Army and Marines in Bagdad. These violent protests and possible riots, may have a very negative psyhcological impact on the US consumer. I remember, as a young boy, wanting to join the anti-Vietnam war protests. Even as a young person, I could see that the loss of our blood and treasure was too much to pay. Many in the streets this summer will feel the same way.

When we see this, many will begin to see that the country is also in an important economic crisis. My point of this post is to say that the deep divisions in this country will have a very negative effect on the economic recovery. psychology.

Aristotle (03/31/03; 18:52:17MT - usagold.com msg#: 100643)
Thanks, steady!

I managed to miss Dilbert somehow before thowing out today's newspaper. That legislative bill from Nevada made up for it.

Laughter. Got me some. --- Ari

GoldnSilver2002 (03/31/03; 18:41:54MT - usagold.com msg#: 100642)
Real reason america is in iraq
For what its worth,the rumour circulating is that saddam has considerable gold supplies(i.e Kuwait).As such Bush needs Saddam alive to tell him where it is.A german newspaper reported satelitte photos of large truck convoys leaving saddams palaces(pre war) for syria,now a target also.These gold supplies are desperately needed to replace the now gone supplies in fort knox.America has secured the oil,now it needs the gold.I wonder if saddam has some of those russian suitcase nukes placed in baghdad just waiting for the us troops to enter the capital?What the hell his bunker will protect him.

Aristotle (03/31/03; 18:35:45MT - usagold.com msg#: 100641)
R Powell's BIS alert
Rich, let me draw your attention to the first item in your list. Speaking on personal opinion, Eichengreen is always worth your time. At fifty pages, crack a beer or two, put your feet up, and you'll be through it in fine style. While I'm at it, another sharpie worth turning pages for is Aliber.

Thanks for the handy pdf link.

Gold. Get you some. --- Ari

steady (03/31/03; 17:33:54MT - usagold.com msg#: 100639)
silver news from the silver state!
http://www.leg.state.nv.us/72nd/bills/ab/ab532.html
Assembly Bill No. 532–Committee on
Constitutional Amendments

March 24, 2003

___________


Referred to Committee on Constitutional Amendments


SUMMARY—Directs issuance of Nevada silver coins. (BDR 31‑1297)

FISCAL NOTE: Effect on Local Government: No.
Effect on the State: No.

~
EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).


AN ACT relating to state financial administration; directing the issuance of Nevada silver coins; providing that such coins are legal tender for all debts in this state; and providing other matters properly relating thereto.


THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

1-1 Section 1. Chapter 353 of NRS is hereby amended by adding

1-2 thereto the provisions set forth as sections 2 and 3 of this act.

1-3 Sec. 2. The Legislature finds that:

1-4 1. The State of Nevada, at the time of its admission to the

1-5 United States, was a sovereign entity on equal footing with the 13

1-6 sovereignties that formed the compact known as the Constitution

1-7 of the United States.

1-8 2. In ratifying and approving the Constitution of the United

1-9 States, Nevada agreed to delegate certain of her sovereign powers

1-10 to three agencies of government, all in the form provided by the

1-11 Constitution.

1-12 3. Among the powers delegated by Nevada was the sovereign

1-13 power to issue money. That power was delegated by Nevada and its

1-14 sister states to the Congress of the United States in Section 8 of

1-15 Article I of the Constitution of the United States, on condition that

1-16 the Congress would issue all money.



2-1 4. Nevada also, in Section 10 of Article I of the Constitution

2-2 of the United States, agreed not to issue its own money. This

2-3 agreement was also conditioned upon the Congress discharging its

2-4 obligation to issue money as the agent of Nevada and its sister

2-5 states.

2-6 5. The purported delegation by the Congress of the power to

2-7 issue money to the Federal Reserve Bank, a privately owned

2-8 corporation, is a violation of the terms of the Constitution of the

2-9 United States.

2-10 6. The failure of the Congress to discharge its obligation to

2-11 issue all of the money pursuant to Section 8 of Article I of the

2-12 Constitution of the United States absolves the State of Nevada

2-13 from its constitutional obligation not to issue money.

2-14 Sec. 3. 1. The State of Nevada shall issue into circulation

2-15 coins of the State of Nevada in the face amount of $50,000,000.

2-16 The coins must contain 1 ounce of fine silver, must be alloyed to

2-17 90 percent fineness and must bear The Great Seal of the State of

2-18 Nevada on one side and the words "Contains One Troy Ounce

2-19 Fine Silver," "Twenty Dollars," "Nevada Legal Tender" and the

2-20 year of issue on the other side. The coins so issued are legal tender

2-21 for all debts, public and private, in this state.

2-22 2. Except as otherwise provided in this section, when the

2-23 coins authorized by subsection 1 are received into the State

2-24 Treasury, they must be reissued. The coins must not be held as a

2-25 reserve except as the Legislature otherwise directs.

2-26 3. If the number of coins subject to the control of the State

2-27 Treasurer diminishes to 500,000, the State of Nevada shall make

2-28 successive issues of coins in accordance with subsection 1 in the

2-29 face amount of $50,000,000, unless the total face value of the

2-30 coins already issued is $500,000,000, in which case the State of

2-31 Nevada shall issue no further coins without prior approval of the

2-32 Legislature.

2-33 4. If the Legislature of the State of Nevada determines that

2-34 the Congress of the United States is fulfilling its constitutional

2-35 obligation to issue money by:

2-36 (a) Requiring the Federal Reserve Bank to retire its

2-37 circulating notes; and

2-38 (b) Causing the issuance of sufficient notes of the United

2-39 States and other currency to meet the needs of the commerce of

2-40 the United States and of Nevada,

2-41 the State Treasurer shall retire the coins authorized by this section

2-42 as they are received into the State Treasury.

2-43 Sec. 4. This act becomes effective upon passage and approval.

2-44 H
&^%%$____ who introduced this bill, when is the debate, and when will a vote come up?

Mr Gresham (03/31/03; 17:24:09MT - usagold.com msg#: 100638)
Buena Fe
http://www.dailyreckoning.com/
That's pretty funny; I was thinking acronymically and scrolled down to find you'd done the same. So, until I actually hear the WOG (soon enough, soon enough, I fears) first hand, I'll have to get by on POG. And, if you've done your DD in this world, you'll GG, right?

There's plenty to be patient about, in this topsy-turvy time. And when markets turn (or fold) they'll do so in right short order, if they've been manipulated/propped as we suspect. At least the probability of that is high enough to question their payoffs as never before, and lighten up on paper.

The Mogambo rant I linked to earlier at Daily Reckoning is just the thing for putting the perspective to all the middling arguments we grunge around in daily. It all sums down to "there ain't no There there" and the young'uns ain't gonna feed us old'uns unless we dig up some shiny for our vittles...

(A pre-reading of Mogambo is also great if you need to limber up your brain for a mindless argument with a stubborn child or other such type, when going on a creative and pre-emptive rant yourself is just tack to take. Worked for me...)



R Powell (03/31/03; 17:02:59MT - usagold.com msg#: 100637)
BIS alert targeting the word "gold"
Please note that three of these require PDF. The last is an html. Nice gains today for many commodities, gold and corn included. BTW, Refco has recommended long positions in silver. I believe the last time Refco did this, Methuselah was still in short pants.

Have gold, silver and the CRB index all bottomed together? Are all three now due for new multiyear highs?


************************************************************************
Your current news on phrase "gold(any word)" at a glance:
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4 new document(s) found since 26.03.2003:

1. The Great Depression as a Credit Boom Gone Wrong (Paper presented at BIS conference, 28-29 March 2003) (31.03.2003 08:15)
Paper by Barry Eichengreen and Kris Mitchener, presented at the Conference on "Monetary stability, financial stability and the business cycle" at the BIS in Basel, 28-29 March 2003.
http://www.bis.org/events/conf0303/eichmitch.pdf (PDF, 958324 bytes)

..methods. It was accompanied by accommodating money and credit conditions in the United States, reflecting the ample gold reserves accumulated by the country during World War I, the stance of Federal Reserve policies, and financial...

2. External Constraints on Monetary Policy and the Financial Accelerator (Paper presented at BIS conference, 28-29 March 2003) (31.03.2003 08:23)
Paper by Mark Gertler, Simon Gilchrist and Fabio Natalucci, presented at the Conference on "Monetary stability, financial stability and the business cycle" at the BIS in Basel, 28-29 March 2003.
http://www.bis.org/events/conf0303/gertgilc.pdf (PDF, 376647 bytes)

..phenomenon: During the Great Depression, as Eichengreen [18] and others have shown, countries that stayed on the gold standard su?ered far more severe ?nancial and economic distress than countries that left early. In this paper we...

3. The price level, relative prices, and economic stability: aspects of the inter-war debate (Paper presented at BIS conference, 28-29 March 2003) (31.03.2003 08:13)
Paper by David Laidler, University of Western Ontario, presented at the Conference on "Monetary stability, financial stability and the business cycle" at the BIS in Basel, 28-29 March 2003.
http://www.bis.org/events/conf0303/laidler.pdf (PDF, 200921 bytes)

..corollary, I shall have relatively little to say about how it treated international monetary arrangements, notably the gold standard, which were matters of central policy importance in many countries in the 1920s and 1930s, and...

4. Central banking under test? (BIS Speeches 28 Mar 2003) (31.03.2003 12:00)
Speech by Andrew Crockett, General Manager of the BIS and Chairman of the Financial Stability Forum, at the BIS Conference on 'Monetary stability, financial stability and the business cycle', Basel, Switzerland, 28 March 2003. (BIS Speeches 28 Mar 2003)
http://www.bis.org/speeches/sp030328.htm (HTML, 60755 bytes)

..of arrangements in the financial and monetary spheres has similarities with the one that prevailed in the gold standard and early interwar period. Looking beyond obvious differences in other respects, it was then that we saw for the...
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Buena Fe (03/31/03; 17:01:47MT - usagold.com msg#: 100636)
hhmmmmmmm
Aside from your incorrect understanding of The Word of God...

hey.... they said that bout my Lord too, thanks for the compliment DD



Buena Fe (03/31/03; 16:55:54MT - usagold.com msg#: 100635)
Gold...a little bit of heaven in our hands.
and everyone said ... ... ... AMEN sister!

Leigh (03/31/03; 16:53:24MT - usagold.com msg#: 100634)
Buena Fe
I think you're exactly right. For some time now I've had a foreboding feeling about this war. Satan Hussein and his sons are despicable, but our country doesn't have clean hands either. God may take this opportunity to exercise His wrath upon our sinful selves.

Gold...a little bit of heaven in our hands.


Buena Fe (03/31/03; 16:36:54MT - usagold.com msg#: 100633)
DD
you're right, you win, i don't know the WOG

won't waste your's or anyone elses time any further (mine either)

got gold

Daniel Druff (03/31/03; 16:35:10MT - usagold.com msg#: 100632)
Golden Bear
Perception
GB:

Thank you for the suggested addition..."perception", right you are.

DD

sector (03/31/03; 16:32:04MT - usagold.com msg#: 100631)
GATA's Advice: Buy Gold
Matches advice from other wise men...
Richard Russell, Sean Corrigan, Bill Fleckenstein, Bill Buckler and just about every other perceptive investment letter writer.

As for buying at the top [Jan 5th-HUI] that was a fault not of a free market "correction" but of a manipulated COMEX rules change and hence short-timed tactic in this gold war. The vast majority of GATA followers have bought in since 1999 and 2000 when Bill M was pounding the table the loudest. John Hathaway too was on his gold trampoline back then and is buying heavily in early 2003.

Gains from that epoch are off the chart...in three digit territory. If one came late to gold and jumped in early this year, they will just have to wait, knowing that the opponents are draining the US treasury's bullion and at a date certain they too will have their triple-digit gains.

I look at my ounces bought for $280 net and $349 net and say "Thank You". Let's hope the fools at the Fed keep it coming.

Examine the desperation of the government, they know the future too. They are on a time fuse. We are the watchers and accumulators with all the time in the World.

Patience is a cardinal virtue in today's fog.

Pick up the phone and buy gold bullion. The rush alone is worth it.


Golden Bear (03/31/03; 15:29:47MT - usagold.com msg#: 100630)
Daniel Druff (msg#: 100621)
DD,

thanks for the clarification...

The "perception" of the investing public as to the legitimacy of gold as the natural economic barometer is what I failed to pick up from your post.

I agree in a sense, Bill Murphy must be careful in his trumpeting of gold shares to the public in my opinion. He was suggesting that one should be in gold shares almost all the way up the recent spike, and those who got in at the top got creamed...

This is the reason I have adopted a traders mentality with all investment vehicles, except gold bullion. With bullion, I will buy on pull backs like the current one, and not sell... thus increasing my personal "central bank stores".

But in investing, one must also do their own due diligence, and each individual investor must take responsibility for their investing decisions. I know, that is idealistic, especially in this socialistic environment when most want to be protected by the state...

Bill Bonner sums it up nicely: investors thinking they will get what they want, only end up getting what they deserve...

Cheers.

Cheers.



Daniel Druff (03/31/03; 15:25:23MT - usagold.com msg#: 100629)
Buena Fe
Aside from your incorrect understanding of The Word of God...
...do you think that GATA is playing a winning hand as far as educating the investing public? They ARE chartered as an educational organization, right?

DD

Mr Gresham (03/31/03; 15:21:29MT - usagold.com msg#: 100628)
Kev
"I was there today..."

What a great phrase to hear amidst our second-hand ramblings (and probably pretty good ahead-of-its-time guesswork) usually heard here.

It reminds me that one of my hopes for this forum is that the level of discourse someday attract real participants in all these events we've talked about, who will feel safe enough in their anonymity to give us confirmation, or correction, to our views. I don't want to wait the 20 years to read about it in some retired central banker's memoirs...

Buena Fe (03/31/03; 15:18:13MT - usagold.com msg#: 100627)
DD #100621
"........Bill Murphy has been out of control. He has called The Cabal all sorts of ugly names while compounding this gaff by seeming to root for the other side in our current war with Iraq......."

C'mon ol' boy, read your OT, there where plenty of times that the Creator was "seeming to root for the other side"
within His plan to spank corrupt leadership, ESPECIALLY within His "set-apart peoples"! Your selective memory is displaying your hand.

God loves/values the Iraqi's JUST as much as He loves any American or Isreali for that matter. He is NO respector of persons, and only He can justly figure out this mess where niether side (IMHO) is innocent.

Everything i've read from Bill shows he LOVES America and her people, he just gets a little intense about the corruption in leadership, which is all tied together (strong$/gold/euro/oil/war/media-discipline etc), CAUSE HE'S BEEN TO AFRICA AND SEEN A "LITTLE" OF THE cabal's MEDICINE!

please shower off that "pharisee" cologne

go gata, go bill, go gold

(sorry admin you may pull this one if necessary)



TownCrier (03/31/03; 14:59:46MT - usagold.com msg#: 100626)
Fed elbows in on Treasury Department territory -- comments on dollar strength
http://www.djnewswires.com/cgi-bin/displayStory.pl?storyId=2003033120070001.xml
HEADLINE: Fed's Poole Says Dollar Weakness Not A Serious Concern

NEW YORK (Dow Jones)--[in written comments today Federal Reserve Bank of St. Louis President President William Poole] said in the bank's April Regional Economist publication that "if the dollar's recent decline can be attributed to the slowdown in the U.S. economy, along with corporate governance and geopolitical uncertainties, which I suspect it can, then recent weakness in the dollar is not a matter for serious concern."

[And if it can't be attributed to that, then what?...]

[Further...]

"It makes no sense to interpret 'strong dollar' to mean an exchange rate that is rising at a rapid pace forever," Poole explained. "That would take the currency far away from any reasonable equilibrium."

------(see url)-----

Perhaps Mr. Poole stepped in, thinking other CBs in the world needed an interpreter for Treasury Secretary John Snow on the dollar?

Gold, on the other hand, needs no interpreter.

"Gold were as good as twenty orators." --William Shakespeare

R.

Kev (03/31/03; 14:56:53MT - usagold.com msg#: 100625)
Belgian lawyer seeks dissolution of central bank
I was there today and I must say that I have never seen such an arrogance, dictatorship and ivory tower politics in my whole life.

------------------

BRUSSELS, March 31 (Reuters) - A top Belgian lawyer said on Monday he would ask shareholders of Belgium's central bank BNAB.BR to dissolve the bank, alleging that a transfer of assets had pushed its capital below a key level.

Daniel Modrikamen told a news conference ahead of a heated annual shareholders meeting that a disputed transfer of the bank's gold and currency reserves to the Belgian state had depleted its equity.

As a result, the bank, known as Banque Nationale de Belgique, is bound by its own regulations to appoint a liquidator to oversee the fair distribution of its assets among its shareholders, he said.

The central bank's governor, Guy Quaden, said the central bank manages the gold and currency reserves on behalf of the Belgian state, but he denied to shareholders that the reserves had been removed from the bank's assets.

Gold and currency reserves made up 12.8 billion euros of the bank's total assets of 35.2 billion euros at year-end.

Faced by whistles and clapping by disgruntled shareholders unhappy with the central bank's responses to their shareholders, central bank governor Guy Quaden called for order.

"We are not in a court house and we are not in a music hall," he told the shareholders' meeting.

"The assertion that the net assets of the bank have become negative after a transfer of foreign exchange reserves is not correct," Quaden added.

Shares in the bank, one of the few in the world to be publicly listed, closed 0.67 percent lower at 3,268 euros, after rising more than three percent during the day.

The transfer of assets has been the centre of a much-publicised dispute between the bank and its private shareholders.

Modrikamen, who represents about 20 investors holding altogether 500 shares in the bank, said he would file a lawsuit to get the bank to pay shareholders 1.2 billion euros from its reserves -- money that has been transferred to the Belgian state.

The shareholders, led by advocacy group Deminor, argue that the bank should share its reserves because it transferred its rights to print money to the European Central Bank after the euro's introduction.

The central bank denies it ever gave up its right to print money, saying that it shares that right with the European Central Bank and does not have to share its reserves.

Complaints and lawsuits have incurred the wrath of Quaden, who has said that the bank was "the object of harassment".

The Belgian state owns 50 percent of the bank's shares, whose price has risen steadily amid speculation that the government might try to buy out the shareholders.

The Belgian central bank said last month it had asked Euronext Brussels to open an investigation into possible manipulation of its stock.


Mr Gresham (03/31/03; 14:28:38MT - usagold.com msg#: 100624)
Mogambo Guru: the Second Coming of the Stock Market?
http://www.dailyreckoning.com/
R.D. is utterly, ravingly, lyrically, hysterically and completely-in-keeping-with-our-times nutzoid today! Hits the frenzied level that anyone trained in economics must truly feel in today's Through the Looking Glass environment.

I hit on multiple excerpts -- "this one" "no, that one" -- finally gave up -- "read it for yourself".

Perhaps someday in the loony bins of the future will be -- not Napoleons and Cleopatras, but Greenspans and Rubins pacing the corridors -- "if I had just put $1.5 billion more into the ESF on April 1, 2003, none of this would have happened -- but I must get back to work on my memoirs"...

Waverider (03/31/03; 14:28:27MT - usagold.com msg#: 100623)
DAILY GOLD MARKET REPORT
http://www.usagold.com/DailyQuotes.html
Snip:
"New York spot gold settled higher at $335.90 an ounce up $4.40 an ounce from Friday's close..."

Waverider: DJIA 7992.13 -153.64 -1.89%

USAGOLD / Centennial Precious Metals, Inc. (03/31/03; 14:01:59MT - usagold.com msg#: 100622)
What you need to know before you buy your first ounce of gold...
http://www.usagold.com/cpm/aboutcpm.html

Q. What is the best approach for the safe-haven investor?

MK. If you want to protect yourself against inflation, deflation, stock market weakness and potential currency problems -- in other words, if an economic disaster is your concern, there is only one portfolio item that will serve you in all seasons and under most circumstances -- gold coins or bullion.

Q. In recent years, we have seen a large number of gold dealers proliferate on the internet. What do you have to say about that?

MK. The internet offers an interesting challenge for the gold buyer. Fly-by-night firms are as big a problem in the gold business as they are in other areas of the investment business. One major problem at the moment are all the one-man-do-it-from-your-basement internet operations that have cropped up in the last few years. How does one know that the individual with whom you are dealing in these situations is legit? We've even heard of instances where some of these people actually have criminal records or have had past problems with regulatory authorities -- like the Federal Trade Commission or the Securities and Exchange Commission. After all, what does it take to go on-line with a website? Anyone can do it. It's up to the consumer to do their due-diligence before doing business with these operations.

Q. Any comments about your own internet presence?

MK. First and foremost, USAGOLD / Centennial has always been a brick-and-mortar brokerage headquartered in secure and professional office space here in Denver, Colorado. In function our own website is just a readily-available extension of our advertising and marketing programs. The USAGOLD website further gives us the opportunity to easily provide our clientele with timely market information and commentary.

Gold Today!

Because you never know what tomorrow will bring.

In this global marketplace, a single event on the far side of the world can suddenly and adversely affect the performance and credibility value of the commercial positions within your investment portfolio.

Gold has no employees, no overhead, and no financial statement to balance. It cannot go bankrupt. Gold is wealth itself. It is valued worldwide on the basis of its uniquely reliable form and function -- a steadfast financial asset which is immune to the contagious collapses to which all financial paper is prone.

In the final analysis -- in times of stress -- paper is only paper.

How solid is your portfolio?

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