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ARCHIVED DISCUSSION FROM 12/31/2006 All times are U.S. Mountain Time (Yesterday's Discussion.) mikal (12/31/06; 23:56:17MT - usagold.com msg#: 150612) Labor leaders try different tack http://observer.guardian.co.uk/business/story/0,,1980298,00.html Birth of the First Global Super-Union | Business | The Observer - 12/31 mikal (12/31/06; 23:34:08MT - usagold.com msg#: 150611) Compromise chases away cold as "cold war" fears linger http://business.guardian.co.uk/story/0,,1980787,00.html Belarus Avoids Cold New Year by Bowing to Gazprom Demand for Price Increase | | Guardian Unlimited Business | Nabi Abdullaev in Moscow | January 1, 2006 mikal (12/31/06; 22:58:48MT - usagold.com msg#: 150610) (No Subject) http://www.ft.com/cms/s/8f20d5e2-97aa-11db-a680-0000779e2340.html Crude and Metals Achieve Impressive Prices in 2006 | Chris Flood | FT.com / MARKETS / Commodities / 12-30-06 mikal (12/31/06; 22:25:37MT - usagold.com msg#: 150609) Creditor countries swap places http://www.nytimes.com/2006/12/30/business/30charts.html?_r=2&ref=business&oref=slogin&oref=slogin Maybe Developing Nations Are Not Emerging but Have EmergedNew York Times - Floyd Norris | December 30, 2006 mikal (12/31/06; 22:03:25MT - usagold.com msg#: 150608) Lamentations overlook England's hidden hoards http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/01/ccview01.xml Telegraph | Money | Monday view: Counting the cost of the Chancellor's big gold sell-off by Christopher Hope - Jan 1 Paper Avalanche (12/31/06; 21:10:21MT - usagold.com msg#: 150607) @ Gold Finger Thank you for all of your enlightening and informative posts during 2006. I look forward to your contribtuions in 2007.Will gold go up or down? WHO KNOWS???No. 1 Value Meal at McDonalds in 2005: 3.97No 1 Value Meal at McDonalds in 2006: 4.69No. 1 Value Meal at McDonalds in 2007: 5.99Gold in 2007........ priceless.Paper Avalanche Armageddon (12/31/06; 18:31:32MT - usagold.com msg#: 150606) @Flatliner - 4 day stock market holiday I meant 4 consecutive days of no trading. I heard this on Bob Brinker's radio talkshow today. He was saying that generally the Wall street did not want 4 consecutive days of no trading because it stops investors from getting their money out in a reasonable period of time and thus lowers the liquidity of the market. After he said that an alarm bell went off and I thought to myself maybe that is the point!!! Do the elites know something is going to happen over the long holiday weekend the masses don't? I mean why couldn't Wall street open Tuesday and take Wednesday off for Ford's funeral? contrarian (12/31/06; 18:07:23MT - usagold.com msg#: 150605) Wanta Flatliner--a week or so, I listened to two or so of the interviews, and I have to admit it emotionally seemed to ring true to me. I mean, look at Enron, how a company that seemed so successful, being on the the cover of magazines, turned out to be a house of cards. So there can apparently be a lot under the surface that squirms when the rock is overturned. Not to sound overly conspiratorial, but this stuff may be true! USAGOLD / Centennial Precious Metals, Inc. (12/31/06; 18:03:24MT - usagold.com msg#: 150604) A VERY HAPPY NEW YEAR TO ALL! GOLD FINGER (12/31/06; 17:01:22MT - usagold.com msg#: 150603) What's your predictions?? Happy 07 to everyone here~Since I signed on this gold forum since March of 2006 I have gained some good insight and other useful ideas concerning the GOLD market. I've also seen how many try to predict the out come of gold and other world events. I am often amazed how some really rally for gold and go to great lengths to tell the golden story. Some predictions for the future I have seen here did not materialize: We did not engage in a war with Iran. Nor had a nuke fight with them.Gold did not reach 800. usThe stock market did not crash, but only went on to reach new highs up 16%The USD is in bad shape, but really even if it drops lower this country will still run. In fact many are hoping is will hit below 80.OIL, fell sharply when it was poised to go higher! haha~Now, should I even attempt to offer my 07 predictions for gold. Well, already I have heard some conflicting ideas that gold may not perform as well as it did this year. Up over 25%? Can this continue if the market crashes this year?? Who knows? What I do know is that it's offered me a safe place to park some cash.....SO NOW WHAT??CHEERS,GF Flatliner (12/31/06; 15:34:06MT - usagold.com msg#: 150602) @Armageddon Holiday Do you mean to state that there will be a four consecutive days of no trading? Or a 4 day holiday? In other words, because of the state funeral Tuesday, we will find the markets closed, thus Sat, Sun, Mon + Tuesday is 4 days off in a row. If you heard something different than this, please clearify. Flatliner (12/31/06; 15:25:58MT - usagold.com msg#: 150601) More of what's not in the news http://www.vinesbranch.com/view/?pageID=293187 After searching a little longer, it appears that Wanta has been interviewed for our enjoyment. I've only reviewed the first two, but find the information a little more believable after ‘hearing’ it rather than just reading it.The most fascinating part of this story is that I'm having a hard time finding obvious flaws while at the same time finding it hard to find supporting evidence. I will listen longer, but if anyone else spots obvious issues, I would greatly appreciate the feedback. The following can be found part way down the page at the associated link:SNIP:Leo Wanta interview - 2 hours in 2 parts: http://mp3.rbnlive.com/Greg/0603/20060323_Thu_Greg1.mp3 http://mp3.rbnlive.com/Greg/0603/20060323_Thu_Greg2.mp3 Christopher Story interviews I've just listened to part of the first one but it is very good. Somehow Story makes it clearer in person than he does in his writing. I am getting a much better understanding of this amazing affair from listening to these interviews. http://mp3.rbnlive.com/Greg/0608/20060801_Tue_Greg.mp3 http://mp3.rbnlive.com/Greg/0608/20060814_Mon_Greg.mp3 http://mp3.rbnlive.com/Greg/0607/20060724_Mon_Greg.mp3 Michael C. Cottrell Interviews http://mp3.rbnlive.com/Greg/0609/20060901_Fri_Greg.mp3 http://mp3.rbnlive.com/Greg/0607/20060727_Thu_Greg.mp3:ENDSNIP. Chris Powell (12/31/06; 15:19:15MT - usagold.com msg#: 150600) Chrysler goes to China to build small cars for U.S. market http://news.yahoo.com/s/ap/20061230/ap_on_bi_ge/chrysler_chery Automaker can't make money building them in U.S.* * *By Tom KrisherAssociated PressFriday, December 29, 2006 DaimlerChrysler AG's Chrysler Group and China's Chery Automobile Co. have agreed on a plan for the Chinese manufacturer to build small cars to be sold worldwide. The cars, which already are being designed, would be based on an existing model but will be modified jointly by Chrysler and Chery engineers, Chrysler spokesman Jason Vines said Friday. Chrysler is taking the lead on the design and will ensure that the vehicles meet high quality standards, he said.They will be sold at Chrysler dealerships in the U.S., Europe and elsewhere under a Chrysler Group brand as either a Dodge, Chrysler or Jeep.Chery will build tiny cars known in the industry as "B-cars," but it also may build something larger for Chrysler, Vines added.The deal needs to be approved by Chrysler's supervisory board, which meets next month, and by the Chinese government.The move gives Chrysler a relatively quick entry into a growing segment of the car market where it now has no significant product, and it prepares the company in case gasoline prices escalate again to above $3 per gallon, said David Cole, chairman of the Center for Automotive Research in Ann Arbor. The average retail price of gasoline in the U.S. ended 2006 at around $2.34 a gallon, or 14 cents higher than a year ago.Alan Helfman, general manager of River Oaks Chrysler Jeep in Houston, said the pact will give dealers coverage in all segments of the car market. "I think that's an incredible deal," he said.Chrysler has been seeking a Chinese partner to build small cars, saying it cannot make money by manufacturing them in the United States due to high labor and other costs."We can't build one here in that segment. You can't make any money on it. That's why we need a partner," Vines said.He said Chrysler would unveil a prototype "fairly soon," although no date has been set. Production will not start until sometime after 2007, Vines said.Chrysler would not say how many cars Chery would build or how much they would cost. It also would not reveal the financial terms of the agreement. The letter of intent was signed about two weeks ago, Vines said.Chery had plans to begin exporting vehicles to the U.S. as early as next year in a joint venture with U.S. entrepreneur Malcolm Bricklin's Visionary Vehicles, but the deal fell apart in November."Both sides agreed a joint venture was not a good idea," said Visionary Vehicles spokeswoman Wendi Friedman Tush, adding that Chery wanted to modify existing cars and Bricklin wanted totally new products.Visionary Vehicles is now pursuing other Chinese manufacturers and will announce an agreement soon, she said.The deal with Chery will help Chrysler in the U.S., but it also gives the company small vehicles to sell in growing global markets such as India and China, Cole said.To be successful, automakers have to be ready with cars and trucks for different economic and fuel price situations, Cole said."If you don't have that entry-level small car and we see $3.50 or $4 per gallon, that could be a huge problem of really not having a product in a segment that would be very hot with high fuel prices," Cole said.Energy analysts predict the $3 level could be within reach in some parts of the country next summer, but that prices in 2007 should mainly be lower than in 2006, when they averaged $2.38 a gallon nationwide.The agreement also helps Chery by giving it access to design, engineering and manufacturing skills that it doesn't currently have, Cole said. The Chery-produced cars likely would be sold for $8,000 to $10,000, and would have to be high quality to compete with Chevrolet, Honda, Nissan, Toyota and other automakers that already are selling B-cars, Cole said. Chrysler likely would give Chery more credibility than it would have had selling the cars on its own in the U.S., he said. Cole said the Chrysler-Chery deal likely won't be the largest one between a U.S. automotive company and a Chinese manufacturer. General Motors Corp. and Ford Motor Co. already have significant manufacturing deals with Chinese companies that could be larger, he said. GM spokesman Tom Wilkinson said the Chery cars certainly would compete against Chevrolet's Aveo small car, which is built by GM Daewoo in South Korea. But he questioned whether the Cherys would be able to carve out a niche in a competitive market. "The car would have to be good enough to earn its way into the segment," Wilkinson said. The United Auto Workers union, which has been critical of companies that move manufacturing jobs overseas, would not comment on the Chrysler-Chery deal. Last year, GM settled several legal disputes with Chery over allegations that it had stolen GM's design of the Spark minicar, which looks similar to the Chery QQ. GM had sued to prevent Chery from selling the car in various markets, including Asia and Eastern Europe. Terms of the settlement weren't fully disclosed, but Chery agreed not to market its vehicles under the Chery name in the United States. GM and Chery also agreed not to take further legal action against each other. Chris Powell (12/31/06; 15:10:53MT - usagold.com msg#: 150599) Euro in wide use outside European Union http://news.yahoo.com/s/ap/20061231/ap_on_bi_ge/europe_widespread_euro By Slobodan LekicAssociated PressSunday, December 31, 2006 Slovenia converts to the euro on Monday, officially becoming the 13th member of the eurozone -- and the first among the EU's newest members to qualify to use the currency.But at least half a dozen other European ministates and territories are using the currency as legal tender -- without approval from the European Central Bank.The euro was introduced five years ago to provide economic cohesion among EU nations. But euros also are in circulation in dozens of countries and overseas territories ranging from the North Atlantic to the Pacific.In Europe, Montenegro, Vatican City, and San Marino, and the principalities of Andorra and Monaco have used the euro since its inception. And in the province of Kosovo -- technically still part of Serbia administered by the United Nations -- the euro circulates alongside the Serbian dinar.The European Central Bank has not opposed "unilateral euroization" by microstates that historically have been linked to the French franc, Spanish peseta or German mark as legal tender."The ECB does not either encourage nor deter third countries from using the euro," President Jean-Claude Trichet recently declared.Joaquin Almunia, the EU's economic and monetary affairs commissioner, has encouraged nations to adopt the euro as a means of achieving economic stability."The adoption of the euro creates the right conditions for economic prosperity by providing low inflation and low interest rates," he said recently.It is not uncommon for small countries in Africa, Latin America and Asia to use the currency of a major nation -- typically, the dollar.When newly independent East Timor adopted the dollar after seceding from Indonesia in 1999, the U.S. Treasury dispatched planeloads of paper money and tons of small-denomination coins to the impoverished Pacific nation.However, the rise of the euro has made inroads into the dollar's international dominance.Montenegro, for example, switched to the euro after having adopted the German mark in the 1990s.At the time, the tiny nation -- along with Serbia -- was still part of Yugoslavia. But Montenegro opposed the hard-line policies of late Serbian strongman Slobodan Milosevic, and feared he would use his control over the Yugoslav currency to economically destabilize the small state of 600,000 people.With Western help, the mark was introduced in Montenegro to replace the dinar. When the German mark disappeared five years ago, Montenegro adopted the euro at the same time as Germany.The country -- which aspires to EU membership but is not even close to starting entry talks -- now relies only on euros already in circulation, said Nikola Fabris, chief economist at Montenegro's Central Bank."Montenegro does not have any special deal with the ECB," he said.Kosovo -- where the ethnic Albanian majority is seeking independence for the province -- also is a "passive" member of the eurozone."The euro allowed Kosovo to have a stable currency and almost 0 percent inflation, and made foreign trade easier," said Mechthild Henneke, a U.N. spokeswoman. Representation on the ECB is restricted to official EU members using the euro: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain, and now Slovenia. Fourteen West African nations tied to the euro club through the CFA franc, a joint currency set up by France after independence in the 1960s, also are excluded from ECB representation. Some European overseas territories are represented in the ECB decision-making process through their mother countries, including the French departments of Guadeloupe, French Guyana, Martinique and Reunion; Portugal's Madeira and Azores islands, and Spain's Canary Islands. Dozens of other entities, including overseas territories -- such as the French islands of St. Pierre and Miquelon; Mayotte; French Polynesia; New Caledonia; and Wallis and Futuna -- are linked to the euro via peg arrangements or managed floating rates. Slovenia becomes the first of the 10 nations -- most of them ex-communist countries -- that joined the EU in 2004 to use the euro. Cyprus and Malta are slated to adopt the currency in 2008. Armageddon (12/31/06; 14:42:57MT - usagold.com msg#: 150598) 4 Day stock market holiday!! Just heard from a radio talk show that there is going to be a 4 day stock market holiday which is historically unusual. Hmm.. maybe this 4 day holiday will turn into an up to 90 day stock market holiday? I think the president can suspend the trading on the stock market up to 90 days in case of an emergency? Pal (12/31/06; 10:40:11MT - usagold.com msg#: 150597) Paulson in Germany http://www.iht.com/articles/ap/2006/12/21/business/EU_FIN_Germany_US_Finance.php I haven't read enough confirmed(MSM) information yet to persuade me that the Wanta story is true, but the latest bit about Paulson being arrested in Germany is interesting because that is something we should be able to confirm or deny.The above link confirms that Paulson was in Germany recently, but I can't find any more news about him since then of where he is. If you take a look here: http://treasury.gov/press/schedule.html there is no information as to upcoming engagements. Maybe he has done so much traveling recently that he has taken time off for the holidays. Where in the World is Henry Paulson?-Pal Chris Powell (12/31/06; 10:02:12MT - usagold.com msg#: 150596) Spending China's dollars: CITIC buys Kazakhstan oilfield http://news.yahoo.com/s/ap/20061231/ap_on_bi_ge/china_kazakhstan_oil CITIC Buys Oil Company Stake for $1.91 Billion By Scott McDonaldAssociated PressSunday, December 31, 2006 China, which is aggressively seeking overseas energy assets to fuel its booming economy, said Sunday that one of its biggest conglomerates has bought the Kazakhstan oil assets of a Canadian company for $1.91 billion.China's CITIC Group bought the oil assets of Canada's Nations Energy Company Ltd. and granted KazMunaiGas, Kazakhstan's state-owned oil company, an option for a 50 percent interest in Nations Energy, the official Xinhua Agency said.CITI's bid for Nations Energy's Karazhanbas oil field had been opposed by some in the former Soviet Central Asian republic, and the option for KMG may have been one way to win approval from Kazakhstan's regulatory authorities.China's economy has seen double-digit growth in recent years, accompanied by increased demand for energy assets to improve its energy security. Kazakhstan possesses the largest oil deposits in the Caspian Sea region and produces about 1.3 million barrels a day.In November, Kazakhstan's oil minister said he was against the CITIC Group deal."We must take extreme measures to stop the agreement on the Karazhanbas," Baktykozha Izmukhambetov said in televised remarks, referring to an oil field that is the biggest asset of Canada-based Nations Energy Co. in the Central Asian nation.But according to Xinhua, as part of the approval from Kazakhstan's regulatory authorities, KMG was given the option, exercisable within a year at a price based on CITIC's purchase price for Nations Energy.CITIC Group is one of China's biggest conglomerates. It was set up in Hong Kong in 1979 by former Vice President Rong Yiren as the government's main overseas investment arm.The Karazhanbas field in western Kazakhstan has proven reserves of more than 340 million barrels of oil, and current production exceeds 50,000 barrels per day.CITIC, which has significant infrastructure investments in Central Asia, is planning to build a medium-sized refinery at Karazhanbas, Zhang Jijing, a CITIC Group director, said in October. J-Bullion (12/31/06; 09:25:49MT - usagold.com msg#: 150595) wanta tale Well, according to current Wanta stories, Herr Paulson from the Treasury department has been arrested in Germany recently. This might coincide with the execution of Saddam Hussein. The top gangsters may not want Saddam talking if the truth is about to come out. There was lots of gold stolen after the Iraq invasion. Ditto for 9/11. Even if the stories aren't true, they sure do read like a great spy novel. We really won't know until it is all over with anyway. Thoreauly (12/31/06; 09:09:29MT - usagold.com msg#: 150594) "The Gold Standard Manifesto" http://www.financialsense.com/editorials/fekete/2006/1230.html This is about as strong an indictment of what passes for "monetary science" as one is likely to find. Much like "climate research," it funds an agenda that is really just political -- as in politicized -- science that seeks not truth but the concealment thereof, the better to perpetuate the status -- as in statist -- quo.(And be sure to click on Gold Standard University Live at the conclusion of the article.) Humble Pie (12/31/06; 07:57:26MT - usagold.com msg#: 150593) GE post#150591 To add some more intrigue to the pot 'stir in the Martin Armstrong affair of Princeton Economic institute fame and you have a real thriller. Ned (12/31/06; 07:11:48MT - usagold.com msg#: 150592) @ Cometose I'm happy you had an excellent year, thanks for letting us know!May 2007 be peaceful and prosperous to all of us.Take care. ge (12/31/06; 05:41:13MT - usagold.com msg#: 150591) Flatliner http://www.aci.net/Kalliste/wanta.htm According to Orlin Grabbe, the following are the essential info available about Wanta. His links to gold market are mentioned at three places. First one in his dealing of 2000 tonnes of physical gold (Russian gold?). The second and the third are in his letter to White House. He refers to "U.S. Treasury & Metals Accounts" and "I.M.F. gold bullion/troy ounce delivery contract". OK. I am stunned and can go no further. Could you give us more clues?----Essential Wanta according to Grabbe---* Crashing of Russian Ruble in 1990-91. * Dealing with 2000 metric tons of gold in 1991. Was it Russian gold?* Going to Switzerland (in 1993) to make $250,000,000 available for the Children's Defense Fund at the request of Deputy White House Counsel Vince Foster. Is this somehow related to death of Vince Foster?* Arrested by Swiss authorities, and then extradited to Wisconsin to stand trial for state taxes owed for the years 1982 and 1988. The grand total of taxes owed--$14,000.* Sentenced to 22 years in prison.* Afterward, on Sept. 21, 1996, Wanta wrote a mysterious letter to Hillary Rodham Clinton, referring to "U.S. President Bill Clinton's Short Term Notes and IMF Sale of Bullion." In the letter Wanta referred to his own "de-stabilization of the Soviet Union Rubles (SUR)" and noted that he "prevented the Soviet & Italian Mafiosa from the Soviet Funds in favour of our U.S. Treasury & Metals Accounts in excess of US$ 150 billion".Wanta then threatened: "Until by legal release from the un-consitutional/ false incarceration in Wisconsin--as a diplomat & non-resident--I am legally interested in the corporate placement of short-term notes & I.M.F. gold bullion/troy ounce delivery contract. Thank you for your kind assistance in this timely situation."* On February 1, 1997, Leo Wanta was released on $90,000 bail. Topaz (12/31/06; 03:02:37MT - usagold.com msg#: 150590) Flatliner, all. It makes for a good read that Wanta stuff eh?Frankly, I'm leaning toward "believer" at this point in time. Too many weird things happening these last few days, the Telecom disrupting EQ affecting China for "2 or 3 weeks", the "off then on" Saddam execution ...and our PM, (Howard) when quizzed on current issues, has been seemingly pre-occupied and almost consiously ethereal of late.I hope the Saddam thing isn't simply a smokescreen, that WOULD be sad and indicate a new depth of depravity in the nether-world of which we know very little.On a brighter note, I've spent the last few days cataloging my (slightly less than) VAST PM stash. Re-locating a PoG guessing contest prize prompted this post/visit.Happy New Year one and all ...the Wanta tale will unfold soon enough ...if it's the genuine article. ViewYesterday's Discussion.
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