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ARCHIVED DISCUSSION FROM 6/3/2002
All times are U.S. Mountain Time
(Yesterday's Discussion.)
Graefin
(06/03/02; 23:28:44MT - usagold.com msg#: 77402)
"Thar She Blows..."
Black Blade..."Thar she blows"...you crack me up!
Peace!
- Gräfin
PS...thanks for the earlier silver update!
Waverider
(06/03/02; 23:11:38MT - usagold.com msg#: 77401)
POG
It's going to be one heck-of-a party at Canada Place in Vancouver this week!
Black Blade
(06/03/02; 23:02:51MT - usagold.com msg#: 77400)
Thar She Blows!!!
There it is. Spot Gold over $330.00/oz. and the USD sub 111. Looks like a run to $340 is in order.
- Black Blade
Black Blade
(06/03/02; 22:56:13MT - usagold.com msg#: 77398)
California loses appeal over power crisis
http://www.chron.com/cs/CDA/story.hts/nation/1436970
Snippit:
WASHINGTON -- California lost a Supreme Court appeal today over Gov. Gray Davis' seizure of electricity contracts at the height of a power crisis in which the state suffered rolling blackouts and sky-high energy prices. North Carolina-based Duke Energy sued the governor last year, alleging that Davis illegally took control of the long-term contracts. The 9th U.S. Circuit Court of Appeals agreed, ruling 2-1 that Davis did not have the authority to take over en estimated $200 million in contracts because Congress has not granted the states such rights in energy matters. The California power market went haywire in late 2000. The price of electricity soared and the state experienced rolling blackouts. Davis declared a state of emergency in January 2001, and then used his emergency powers to commandeer future energy contracts the following month. Davis said he acted to prevent the power from being resold to buyers outside California. "Even a minor loss of electricity could have resulted in further blackouts," the state told the Supreme Court.
Black Blade: Looks like the state will just have to raise rates and/or taxes to pay the piper. That's what happens when politicians re-regulate industry without thinking. The state must still address the issues of new power generation, power plant construction, and infrastructure upgrades.
The Hoople
(06/03/02; 22:43:13MT - usagold.com msg#: 77397)
$330.00 August gold!
If these gains hold overnight tomorrow's COMEX could be about as much fun as chewing tin foil for the Cabal. I'll bet the Tyco shareholders joining the ranks of "decrease your wealth 30% overnight" club will have a nasty aversion to paper. Long gold, short paper. It's that simple.
goldquest
(06/03/02; 21:52:40MT - usagold.com msg#: 77396)
@Black Blade Ref: Pipeline
The bribes and payoffs will be tremendous. It will be a new source of income for the warlords. A steady paycheck coming in, NOT to blow up the pipeline. Of course the consumer will pay for all.
mikal
(06/03/02; 21:48:25MT - usagold.com msg#: 77395)
Actual CRB index...
Moving in on 205, not 105.
Black Blade
(06/03/02; 21:42:28MT - usagold.com msg#: 77394)
Afghanistan, Pakistan, Turkmenistan sign pipeline agreement
http://atimes.com/ind-pak/DE04Df01.html
Snippit:
ISLAMABAD - Afghanistan, Turkmenistan and Pakistan signed an agreement for the construction of a US$2 billion, 1,500-kilometer gas pipeline from Daulatabad via Afghanistan to Gwadar. Musharraf said they discussed construction of the pipeline, the development of communication and railway infrastructure, and the enhancement of trade and economic cooperation not commensurate with the close bonds among them. The Daulatabad-Gwadar gas pipeline provides the shortest route for the supply of gas from the Central Asian countries to the outside world, especially the Far East and Japan.
Black Blade: Now to see if anyone can hold it if it is ever built. The region is a hotbed of terrorism and antagonism with dueling warlords and bandits. Someone will have to protect the pipeline. I wonder who that will be?
mikal
(06/03/02; 21:39:50MT - usagold.com msg#: 77393)
Forum's INO Quotes looking...
GOOD from where I sit, brave knights. Starting with the Commodity Research Bureau (CRB) index- closing in on 105! This alone is enough to raise any fat cat's pulse, and slickened hairs needless to say. This makes them spit out further funds, derivatives, and megabyte entries, to passify the threatening adversary. Ditto, the bond prices (shown is the 10 yr. US T-bill), which are in a much larger market to control. The T-bills are a sleeping giant, attracting safe haven & pension funds and a part of diversified portfolios worldwide, including governmental, institutional, and individual. The more they attract, the higher the price, and the lower the rate of return. These rates rise of course when the Central Bank (Fed, F(ed)eral (P)reserve) raises the prime rate, the rate charged to member banks to borrow. The recent trading range of 4.9- 5.4% should succumb so quickly, that the cat may have the media's tongue, diverting attention somewhere like energy, nukes, or the latest television spectacles. The dollar and gold, keep pace in opposite directions, like GATA'S enveloping horn, the famous Zulu chief's brilliant battle stategem.
Black Blade
(06/03/02; 21:24:24MT - usagold.com msg#: 77392)
BOJ spent oodles to stem yen's rise
http://www.japantimes.co.jp/cgi-bin/getarticle.pl5?nn20020602a9.htm
Snippit:
NEW YORK (Kyodo) The Bank of Japan spent between $8 billion and $10 billion in foreign exchange markets to stem the yen's surge Friday in one of the biggest single-day interventions in recent years, dealers said. The scale of the intervention matches a dollar-supporting intervention carried out by the BOJ after the Sept. 11 terrorist attacks, signaling a strong determination by Japanese monetary authorities to halt the yen's rapid rise, they said. Dealers said the scale of the dollar-buying by the BOJ since Wednesday comes close to 2 trillion yen, making it possible the central bank's intervention in the April-June quarter will surpass a record 3.2 trillion yen in the July-September quarter last year. The BOJ also stepped into currency markets on May 22 and 23.
Black Blade: A good companion article to the USD chart. The intervention has short term effects to the tune of about 24 hours at best. Not a very good return on investment.
Golden Bear
(06/03/02; 21:24:05MT - usagold.com msg#: 77391)
Troy Boy (msg#: 77389)
Political slime
I was thinking the same, but my diplomatic side got the better of me, and wanted to keep things civil amongst us all...
Cheers, and long live the freedom to have our own opinions and the ability to voice them!
Black Blade
(06/03/02; 21:14:21MT - usagold.com msg#: 77390)
Interesting-Scary Chart
http://quotes.ino.com/chart/?s=NYBOT_DXY0
All together now: "The bear went over the mountain, the bear went over the mountain, the bear went over the mountain....to see what he could see"
Japanese intervention on Yen selling and US Dollar buying is having no effect tonight. Just shoveling Japanese taxpayer cash into the furnace.
- Black Blade
Troy Boy
(6/3/02; 21:04:30MT - usagold.com msg#: 77389)
Political slime
I am a little backwards I guess, but I am slightly confused.
This is a gold site, and all the members who monitor and post to this site watch the movements of precious metals. Well the cause of the movements today is founded in the POLITICAl manipulation of the world. From South Africa to the good ole USA.
Now it seems the good ole USA's citizens have now come under a police state. What?
Tex have you read the PATRIOT Act and now the money laundering laws put in place by POLITICIANS, signed by GWB?
So how can you have a forum like this, and not discuss politics when the politicians and bankers, the leaders of the sheeple, are running the world.
We are a select few who are paying attention.
I agree with Black Blade. In fact 8 months ago I took his advice and began ordering my rations and energy supplies.
In fact I guess I have been seeking even greater asylum by putting my home up for sale as it has increased in value over the last three years by over 125%. (Florida waterfront) Although I think it is insane, there are those paying. I hope to join the rest of the top income bracket and expatriat as the US is out of control.
Thank goodness the ones who are paying attention are ahead of the curve. It is through this wonderful medium of exchange that we can help understand what is happening around the world around the clock.
Sometimes the truth does hurt.
Golden Bear
(6/3/02; 21:02:48MT - usagold.com msg#: 77388)
Troy Boy (msg#: 77386)
Why should we wait for another politically founded currency when we have the technology today for private gold based currencies?
Sounds like the stirrings of a revolution to me...
Go Gold!, Go Goldbugs!
PS. Just ordered my copy of Gold Wars, can't wait to sink my teeth into it...
JCTex
(6/3/02; 20:45:03MT - usagold.com msg#: 77387)
Black Blade (6/3/02; 20:04:18MT - usagold.com msg#: 77383)
Stay out of that gym. We need for you to get that stuff above 330, tonight, and then you have to be sharp first thing in the morning, too.
I keep coming back to see if maybe, just maybe, this time, etc.
Doggone, it's nice to be on this side of the thing for a change!!
Troy Boy
(6/3/02; 20:41:32MT - usagold.com msg#: 77386)
monetary bases
So as this whole metals mania heats up, and we have many indicators why, should we all sit back and wait for a new government sponsored medium of exchange?
Why should we wait for another politically founded currency when we have the technology today for private gold based currencies?
JCTex
(6/3/02; 20:39:09MT - usagold.com msg#: 77385)
Golden Bear
Thanks, Golden. I'll be glad to talk about it by email or phone if you like. Just not here.
This is too good a site to get it all slimey with political stuff.
Best to you.
Gandalf the White
(6/3/02; 20:32:39MT - usagold.com msg#: 77384)
Congrats to Dr. BB !!!
Khop Khun Krup
<;-)
Black Blade
(6/3/02; 20:04:18MT - usagold.com msg#: 77383)
Re: Waverider
Thanks, I will try to keep an "ear to the ground" and post what is interesting. I too just got back from the gym - my sore legs, and arms, and ..... well you get the picture. Cheers!
BTW, is everyone watching the POG and USD action tonight? Asia is moving Gold higher and Japanese government intervention is not having much effect on the USD.
- Black Blade
Black Blade
(6/3/02; 19:59:51MT - usagold.com msg#: 77382)
Market mover: Silver
http://cnniw.yellowbrix.com/pages/cnniw/Story.nsp?story_id=30299009&ID=cnniw&scategory=Metals+%26+Minerals%3APrecious&
Snippit:
Gold may have been grabbing the market headlines in recent weeks, but silver has made equally striking advances. After steep falls in January this year, the precious metal has remained highly volatile, but the past fortnight has seen silver leap from strength to strength. On Friday, the spot price in London climbed through the important psychological barrier of $5/oz, to close at a two-year high.
There is a global mismatch of silver supply and demand. Industrial use outstrips combined mine production, recycling and government sales by 16 per cent. The solution has historically rested in the hands of private investors, who hold around 400 million ounces. Also at work on the silver markets were growing concerns over the dollar, which has tumbled hard against the euro and the yen. Commodity buyers are now finding that they can build large stocks of dollar-denominated metals at relatively cheaper prices.
Black Blade: Word is getting out about the precious metals. Rumor has it that physical silver supply is getting very tight.
slingshot
(6/3/02; 19:56:57MT - usagold.com msg#: 77381)
Summer Doldrums
Just another excuse?
The stock market took a dip today and summer is upon us. Lots of money on the sidelines they say. I'm going to stick my neck out and say the next excuse for a downturn in the market is everyone is going on vacation. Yepper,they are taking a breather and let the market run its course. Never mind about all that legal stuff at the major corporations doors. You can hear the investors saying, Going to FIJI tonight for a few days everything will be alright. The dollar is going down. Stocks going down and Gold going up. Plus all the other things happening, I doubt very seriously that many are going to stray far from home.
On another note. Just recieved my ACME Mercury Rocket Kit.
Not alot of creature comfort but they said it would get me
To Da Moon. That's where Gold is going? :o)
Slingshot------------------<>
Waverider
(6/3/02; 19:44:03MT - usagold.com msg#: 77380)
Black Blade
Gosh, I return from the gym to find all sorts of suprises...I trust that "The Morning Blade" will continue? Congratulations...but please don't succumb to the same fate as MK....once in a hammock they're difficult to get out of! Cheers,
Diane
Golden Bear
(6/3/02; 19:36:31MT - usagold.com msg#: 77379)
JCTex (msg#: 77376)
Agreed Sir,
and let us continue to share our love of gold and enjoy the fruits of our endeavours...
Cheers.
JCTex
(6/3/02; 19:32:56MT - usagold.com msg#: 77378)
Viruses on the net
If any of you do not have some sort of antivirus program on your computer. Get one NOW!!
We took two hits last week.
We have been hit, tonight, by three different emails containing the Klez virus. Two were from people that we don't know. One was from someone we do know.
goldquest
(6/3/02; 19:30:06MT - usagold.com msg#: 77377)
Searching For Terrorists In Your Bank Account
http://www.washingtonpost.com/wp-dyn/articles/A49323-2002Jun2.html
Something to consider when our gold investments start paying off. Physical in possession, looks more and more attractive!
JCTex
(6/3/02; 19:25:33MT - usagold.com msg#: 77376)
GoldenBear
This will be the last response from me on this subject because I am becoming a part of the very thing that I do NOT want this site to become: a damned mud-slinging petty-assed political forum.
Golden, you and I probably agree [100%+] on just about everything you mentioned including politicians, Enron, Reg Howe, Ron Paul, Merril Lynch, etc., etc., etc.
In the case of GWB, I disagree strongly with the insinuation made earlier. To me, to think that he would kill or stand by while thousands of Americans were murdered is beyond impossible. I've known him too long, too well.
That doesn't mean that I agree with everything he does, politically. It does mean that his integrity is in tact with me, I'm glad he is there instead of some of the others.
If you want to think the man is a murderer; then you & I are just going to have to disagree on that one subject, but we do NOT have to discuss it here.
That's it, I'm through with the conversation. I stand where I stood. You stand where you want.
Golden Bear
(6/3/02; 18:49:02MT - usagold.com msg#: 77375)
JCTex (msg#: 77373)
"That is an insinuation that is repugnant at best."
Sir JCTex,
may I enquire as to what makes it so repugnant? Do you believe that politicians of today are in geeneral patriots? If so, why are our western societies in the mess they are in?
Why do we see politicians constantly telling their people to tighten their belts, while they legislate pay rises for themselves.
Why do we see deals done by beaurocrats to let the likes of Merrill Lynch and Enron off the hook with fines and no personal convictions or jail time, when if you or I were to be involved in something similar 1/1,000,000th the scale, we would get a prison sentence?
The days of the true patriots existed with those visionaries who drafted your constitution, not these parasites who pretend to uphold it and only tear it to pieces day by day with contempt.
The true patriots of today are the likes of Reg Howe and Ron Paul, not these pathetic excuse for leaders like Clinton and Bush...
Solomon Weaver
(6/3/02; 18:09:05MT - usagold.com msg#: 77374)
CIBC raises estimates on gold prices for 2002 and 2003
Market Report -- Short Stories (ABX, KGC, NEM, GLG)
May 31, 2002 10:36:00 AM ET
CIBC on Gold : CIBC Wrld Mkts is raising its '02 gold price forecast to $315/oz from $300/oz and '03 to $350/oz from $325/oz. Firm believes all of the fundamentals are in place for a sustained rally in bullion; firm's option value methodology can be used to explain the current euphoria in gold shares; firm believes the market is including out-of-the-money resources that were previously discounted. Firm upgraded Barrick Gold (ABX 21.96 +0.01) to BUY from Hold rating with price target of $27 based on valuation despite hedge position; downgraded Kinross Gold (KGC 2.61 +0.05) to BUY from Strong Buy rating with price target of $3.25 based on share price appreciation; firm's top picks are Strong Buy-rated Newmont Mining (NEM 30.85 +0.18) and Glamis Gold (GLG 9 +0.09).
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
Read other Short Story articles
JCTex
(6/3/02; 17:29:57MT - usagold.com msg#: 77373)
Interstate
I am not so stupid as to pick and choose what to believe based on any friendship, desire, or wish.....or who I know or don't know.
I took exception to what was said earlier ["Bush had everything to gain by allowing 9/11"], and I stand by my reaction.
That is an insinuation that is repugnant at best.
I stand by what I said.
Cavan Man
(6/3/02; 17:00:31MT - usagold.com msg#: 77372)
El Paso Energy
Their Sr. VP and Treasurer committed suicide today. Saw story on CNN this afternoon in Detroit.
Cavan Man
(6/3/02; 16:59:00MT - usagold.com msg#: 77371)
Toyota in Europe
Announced today they will be sourcing in the EU almost exclusively and remitting to suppliers in EURO.
CM comment: Bye Bye Sterling.
Cavan Man
(6/3/02; 16:57:02MT - usagold.com msg#: 77370)
FEDEX to pay 5% quarterly dividend
Now, there's a novel idea. Ben Graham would be pleased.
Old Yeller
(6/3/02; 16:28:55MT - usagold.com msg#: 77369)
Where we're going
http://216.46.231.211/boards/user/non-frames/message.asp?forumid=4&messageid=123664&threadid=123664
In Mannfm11's opinion.Still a lot of air left in market valuations, alot if wealth in jeopardy.
Brahms
(6/3/02; 16:13:38MT - usagold.com msg#: 77368)
Paper Gold Silver Downunder
Down here the NZ and OZ dollars are both out performing Gold at the moment. Especially the NZ dollar which is racing away. Paper Cash seeking a S. Pacific haven?
Gentlemen if you are interested in Freedom in a land without paper currency then we are going to have to get busy. Hiding in the hills will just get us another establishment with its fingers in the till.
have you got a political movement whose policies are
1. Freedom
2. No taxes
3. Gold based currency?
We have not. Every party is firmly in the establishment.
I'm off to buy some silver to add to the gold hoard....
Boilermaker
(6/3/02; 15:36:00MT - usagold.com msg#: 77367)
Let's stay away from petty political bickering. . .
Amen.
Belgian
(6/3/02; 15:33:40MT - usagold.com msg#: 77366)
One day.....
....The euro has to make public his alliance with Gold !?
The ambitious euro currency as a Gold friend and Mentor.
The euro as good as Gold and Gold as good as the euro. VOG reflected in a POG that is a reflection on the quality of euro-management ! Don't mess with the euro or people (ECB/BIS) will adjust the price of his closest associate, Gold. Euroland's CBs will not be allowed to mess with their remaining Goldreserves in their respective National Banks.
This new euro-Gold, adaptive standard must be promoted sooner or later with some firm announcements on Gold policy (policies) by ECB.
The price of the valuable Gold will always trend upwards as the euro will also expand at a faster rate than the diciplinarry correct rate. An intrinsic error in every currency, printed by any politician. Once Gold is generally accepted as the ultimate controller of the euro...people/institutions, will make the direct association between both (euro and Gold).
The whole purpose of this concept is the creation of as much *stable* *growth* as possible with the appropiate speed of expansion. No falsified quantum leaps forward anymore and avoidance of backclashes from that clumsy (opportunistic) management. The latest two generations grew too fast !
The dollar never came up with a workable Gold standard alternative and made Gold available for that tiny minority that knew his Value. The *Western* general public is difficult to educate and therefore not under any suspicion to suddenly start accumulating Gold for reasons of currency fatique or distrust. That good old Gold reflex was anesthesized with easy price-control. The euro architects, cooperated with this general perception building...because they had something very different in mind.
Have a look at the POG in euro and see how POG and euro exchange rate (versus dollar), rise in tandem. From the low of 245€ ('99) to 342€ today and €/$ from 0,85 to 0,934!!!
Isn't that nice for Eurolanders and sympathisants ?
Today the Belgian private (!) business-channel (Z) on tele, announced loudly that Gold starts to be re-discovered and will include a POG ticker in euro soon !
Let us translate TG's CPM-archives into Chinese/Russian and Arabic, fo them to spread the theory(ies). MK might expand his fine business overthere too !
admin
(6/3/02; 15:17:13MT - usagold.com msg#: 77365)
Let's stay away from petty political bickering. . .
Criticizing the current administration for its policies is one thing -- I don't agree with everything the Bush administration does either -- but when the discussion degenerates to unsubstantiated, ad hominem, baseless attacks on the integrity and character of the President of the United States in times like these, then I believe somebody ought to step up and put a cork in it.
After all we are a public forum being read by thousands daily. Do we want to be known for this sort of thing?
Interstate
(6/3/02; 14:48:46MT - usagold.com msg#: 77364)
JCTex
Which George Bush do you know and in what context?
In my readings of historical finances concerning gold and silver, I have consistently come across the name Bush. I do not know any of the Bush family, and I lived in Texas for 10 years. But it seems that they have many positive actions for gold, silver and oil and a few negative ones. Am I only to accept the positive and ignore the negative? Can we skew history to our liking? I am not speaking for or against your friend, George Bush. I just don't see how we can pick and choose what we put in our history.
Interstate
TownCrier
(6/3/02; 14:33:18MT - usagold.com msg#: 77362)
USAGOLD is pleased to welcome a new addition to our lineup
http://www.usagold.com/DailyQuotes.html
Jon Warner has agreed to offer up his keen insights and observations of the markets in reviews titled "The Afternoon Gold Report".
Today marks Mr. Warner's first contribution in this capacity, and we're sure you will benefit from his long experience in the mining and energy sectors.
Click the URL above to visit the Daily Market Report & Live News page, where you will find Jon's commentary in the place where MK was -- until recently -- lately seen in deepest contemplation... upon a hammock between two trees.
Welcome aboard, Jon!
R.
YGM
(6/3/02; 14:23:25MT - usagold.com msg#: 77361)
Boilermaker....
Swiss Gold Sales....
I think your theory is basicaly correct in some instances but not with the Swiss CB sales. With regards to bailing out B Banks (or Lessees for that matter) I think when these sales were formulated there was no real fear of (Gold) Loans or Hedges going underwater and whenever Gold poked it's nose up these same sales (and other CB sales) were trotted out for the media talking heads to promote. Now I'm mystified as to why no media hype?
I myself believe if "Truth be Known" these sales (and possibly others) are meant to put the physical back into the hands of old money such as Rothschilds among others. If one knew who held the most voting shares on various Central Banks that are selling Gold and how they voted we'd have some answers. If only we could follow the trail thru the land of smoke and mirrors huh! Like trying to track a trout up a muddy stream and only a Sackett can do that.......YGM
**Waverider...Thanks, I read it some time ago.....
Black Blade
(6/3/02; 14:14:31MT - usagold.com msg#: 77360)
Consumer optimism fading
http://www.upi.com/view.cfm?StoryID=31052002-050144-4670r
Snippit:
ANN ARBOR, Mich., June 3 (UPI) -- Consumer optimism faded in May though the majority surveyed for the University of Michigan's Index of Consumer Sentiment said they still expect the recovery to continue without interruption for the rest of the year. The index, which was released Monday, found consumers expect the economic recovery to slow and jobs to remain scarce. The index rose to 96.9 in May from 93.0 in April. The May 2001 reading was 92.0. About a third of consumers reported their financial situation had worsened, up from 20 percent at the start of 2000. And though consumers expect income increases later in the year, they're anticipating an increase in inflation to 2.7 percent.
Black Blade: I sense that many consumers are in for a very rude awakening. The "Bone Pile" continues to grow higher as companies desperate search for ways to cut costs or even squeak out a profit. As always, get out of debt, get Gold and Silver portfolio insurance, stash enough cash for several months expenses, and get started on a nonperishable food and basic goods program. We live in "Interesting Times".
barnacle bill
(6/3/02; 14:12:33MT - usagold.com msg#: 77359)
GtRumorsof Gold
The Quick Silver
Yesterday at the Canterbury Park Racetrack, 9th race was won by GtRumorsofGold. Had you bet one ounce of gold on GtRumors you would have collected $1056.
Twelve-to-one longshot;TheQuickSilver came in fourth.Had you bet an ounce of silver on that, you would have lost about five bucks.
There are many ways to ride the Gold Bull!
The Hoople
(6/3/02; 14:07:50MT - usagold.com msg#: 77358)
Wall Street freaking out
Foreign dollar holders must be disturbed by today's huge selloff on Wall Street. Could bode well for gold tomorrow? Electric utility suicides are just another sorry chapter in yet another corrupt industry. A business friend of mine in the mobile home repo business said his repo's are off 50%. The reason? Bankers told him they are trying to "help the economy" and go easy on them. Yeah, right. Just another SHTF situation getting ready to come unglued.
RobotGuy
(6/3/02; 13:59:22MT - usagold.com msg#: 77357)
TownCrier - - - Are we an 'event' driven economy?
After reading your earlier post about trends, and hasty decision making, it got me to pondering.
It is evident that many know gold exists, and it seems apparent that some even know of it as a reliable investment umbrella, but relatively speaking, but in North America, we are a small percentage as compared to other regions of the world.
Is it that North Americans have developed into a society where it takes a major catastrophe or development before we make the decisions we've been pondering for great lengths of time? Do we need a trigger of sorts?
With all of the support gold hes been receiving publicly lately, I would think that the hasty decision making, and investor uncertainty period would be over, and that we would begin to see a strong interest in gold without the uncertainty.
Gold has risen in value relatively gradually over the course of the last few months, whereas other investment areas are see-sawing.
I guess the real question I have is - - - Why as North Americans have we pushed off gold as a commodity, and useless investment, and why do we continue to feel this way after gold continues to prove itself in front of our very eyes?
pondering RobotGuy.
Black Blade
(6/3/02; 13:59:18MT - usagold.com msg#: 77356)
Dollar approaches hour of reckoning
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1022959957213&p=1012571727201
Snippit:
The main issue for the markets this week will be whether the US dollar can regain its footing after falling to 15-month lows against the euro. The dollar drew some support at the end of last week from strength in the Michigan consumer confidence index and impressive productivity growth figures for the first quarter. Dollar bulls will be hoping this week's non-farm payroll figures will help inject fresh optimism into the currency. The consensus forecast is for a rise of 60,000 in payrolls. But there is wide agreement in the foreign exchange market that the dollar's hour of reckoning is fast approaching.
Black Blade: Market indices are plunging in the last few minutes. Foreign investors are reportedly fleeing the US markets en masse. Meanwhile the US Dollar is poised to sink much lower. I would suspect that there could be some government intervention, however, the trend is definitely lower. It is quite amusing that on CNBC, anchors Joe Kernan and Maria Bartiromo are crying that the market needs to hurry and close for the session.
Boilermaker
(6/3/02; 13:56:38MT - usagold.com msg#: 77355)
YGM -Swiss Gold
The Swiss have been selling gold steadily for about a year at an average rate of about 5 tons/week. The sales tend to ramp up with higher prices and then go down again with lower prices. They are a signator to the WA and cannot exceed their annual quota set by that agreement. What puzzles me is why they requested and were given the bulk of the WA quotas (which appears to be gold unfriendly) and then they write a new law that appears to be very gold friendly.
My only theory is that the Swiss CB is using the sales to channel the gold to bail out specific bullion banks from their paper positions before the SHTF. Is there any information who is buying the Swiss gold?
Maybe you or others could offer another theory.
JCTex
(6/3/02; 13:56:26MT - usagold.com msg#: 77354)
Black Blade (6/3/02; 13:48:08MT - usagold.com msg#: 77350)
BlackBlade,
Looks like we are about to find out how slippery a slippery slope can be.
YGM
(6/3/02; 13:48:47MT - usagold.com msg#: 77353)
Wizard News.......... for Gandalf the "White"..........Wizard Patron Saint!
http://news.bbc.co.uk/hi/english/world/europe/newsid_2021000/2021595.stm
Excerpts:*
Sunday, 2 June, 2002, 13:35 GMT 14:35 UK
Magician priest wants patron saint of magic
By David Willey
BBC Rome Correspondent
*A priest who uses magic tricks to entertain his congregation has asked the Pope to name a patron saint of conjurers, magicians, and wizards.
Don Silvio performs magic tricks for his congregation
Don Silvio Mantelli, a Salesian priest from Turin, presented a magic wand to the Pope earlier this year and asked for the title to be given to a 19th Century Italian priest - Saint Giovanni Bosco.
*Don Silvio says that the Pope replied: "You'll need a lot of magic wands to change our world; but lets make a start with this one!"
"In Italian the word for a wizard - 'Mago' - is ambiguous," Don Silvio told me. "You can have good wizards and bad ones, just as you have white and black magic. We are on the side of 'white' magic, you understand."
*When he celebrates his annual magicians' mass next year Don Silvio hopes to announce that the Vatican has formally accepted Saint John Bosco as patron saint of the world's wizards.
JCTex
(6/3/02; 13:48:41MT - usagold.com msg#: 77352)
Tommy P (6/3/02; 10:34:41MT - usagold.com msg#: 77332)
I have known George Bush for 50 years, and it is obvious to me from your post's headline that you don't know him at all.
Let's talk about gold, oil, economics, etc; but there are other sites for that other kind of b.s.
JCTex
(6/3/02; 13:48:08MT - usagold.com msg#: 77351)
Tommy P (6/3/02; 10:34:41MT - usagold.com msg#: 77332)
I have known George Bush for 50 years, and it is obvious to me from your post's headline that you don't know him at all.
Let's talk about gold, oil, economics, etc; but there are other sites for that other kind of b.s.
Black Blade
(6/3/02; 13:48:08MT - usagold.com msg#: 77350)
Dollar Falls on Concern Investors Will Pull Money Out of U.S.
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_bfgcgi_content99.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APPueyhVQRG9sbGFy
Snippit:
New York, June 3 (Bloomberg) -- The dollar fell for a fourth day in five against the euro and yen on concern investors will pull money out of the U.S. because of skepticism about companies' credibility. The U.S. currency declined with stocks after Tyco International Ltd.'s chairman resigned following a New York Times report that he's under criminal investigation for tax evasion.
Against a basket of currencies including the yen, euro, Swiss franc, British pound, Swedish krona and Canadian dollar, the dollar has lost almost 6 percent of its value so far this quarter, falling a record four straight months against the euro. Foreigners may hesitate to buy U.S. assets if they expect the currency will keep declining and erode the value of their investments. Along with concern about U.S. corporate accounting practices, investors say they are also leery of the U.S. because of the potential for further terrorist attacks. The U.S. current account deficit ballooned to a record $417.4 billion in 2001, making the dollar vulnerable when international investors shift to other countries.
Black Blade: TIMBER!!! Look at the stock indices falling off into the abyss in the last few minutes. Watch those foreigners go! I don't blame them though. We should pay attention to Gold and Silver tonight.
Black Blade
(6/3/02; 13:38:46MT - usagold.com msg#: 77349)
Re: Graefin - Silver
Silver is following Gold higher as well as the questionable supply available. Other than that Silver is rising on some of the same fundamentals as Gold - that is US Dollar weakness and the prospect of war in both the Middle East and Central Asia. Cheers!
- Black Blade
Black Blade
(6/3/02; 13:35:04MT - usagold.com msg#: 77348)
Bankers' boom valuations are attacked
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1022959951593&p=1012571727304
Snippit:
US regulators are uncovering fresh evidence that bankers, like stock market investors, erred by embracing "new economy" valuation methods during the 1990s boom. The regulators are discovering large losses on loans secured by "enterprise value" - a form of collateral that boiled down to a company's expected value in a sale. Such calculations were typically based on the market values implied by recent mergers and acquisitions in a borrower's industry. This methodology became increasingly popular among bankers as deal prices soared. Some regulators warned bankers at the time that they should be demanding more tangible forms of collateral. They are now pointing to the rising losses as a lesson for lenders. "A lot of the loan losses you have seen banks take - and they are on the rise - are associated with this issue," said David Gibbons, who oversees credit issues for the Treasury agency involved in this review. "It's not like they are writing off hard assets."
Black Blade: Pro Forma? Operating Profits? Synthetic Leases? What next? – "Enterprise Value". These guys must just sit around all day dreaming up new ways to "cook the books". No wonder the stock markets are crashing and the US Dollar is weaker by the day. No one in their right mind would stay invested in these pigs.
BTW, notice the new Charles Schwab commercials slamming the Wall Street bankers and investment houses? (not that Schwab is an innocent player). They are really playing off the Henry Blogett and Mary Meeker "pump and dump" schemes. "Interesting Times"
Graefin
(6/3/02; 13:27:20MT - usagold.com msg#: 77347)
POS
Been watching POS here too...and have been trying to find some good literature to WHY the big jump right now. Any clues anyone?? Glad I have silver as well as gold!
Peace, Love, and Silver Bars!
Gräfin
EagleOne
(6/3/02; 12:58:22MT - usagold.com msg#: 77346)
ski
Oh yessssss! Some of us have been watching the nice break in silver above $5.00, just not the front-line debaters yet.
TownCrier
(6/3/02; 12:38:06MT - usagold.com msg#: 77345)
Whither goes the dollar?
http://quote.bloomberg.com/fgcgi.cgi?mnu=news&ptitle=Top%20Stories%20World&tp=ad_uknews&T=news_storypage99.ht&ad=worldtop&s=APPuMjhVQRG9sbGFy
New York, June 3 (Bloomberg) -- The dollar fell for a fourth day in five against the euro and yen on concern investors will pull money out of the U.S. in favor of Europe and Japan.
Foreign investors have been buying U.S. assets partly based on expectations that U.S. standards for accounting and corporate governance were superior to other economies, [Bank of America Corp's Eric] Nickerson said. Since the bankruptcy of energy trader Enron Corp. ``people are starting to re-evaluate that,'' he said.
...the dollar has lost almost 6 percent of its value so far this quarter, falling a record four straight months against the euro.
Foreigners may hesitate to buy U.S. assets if they expect the currency will keep declining and erode the value of their investments.
The U.S. current account deficit ballooned to a record $417.4 billion in 2001, making the dollar vulnerable when international investors shift to other countries.
-----------(click URL for full text)---------
Bottom line: long-term trends are built not upon daily whims but upon fundamentals, and here we see a big one. The U.S. current account remains the elephant that somehow got invited to the dinner party.
R.
Black Blade
(6/3/02; 12:36:22MT - usagold.com msg#: 77344)
Re: Tommy P
This is probably a trend. During the Great Depression there were a number of suicides, though not the typical fable of brokers doing the "swan dive" out of Wall Street skyscaper windows. Perhaps this is the new American version of Hari Kiri. Maybe he had no other options (as his probably expired worthless). Notice that the CEO's aren't the ones dying. Not that I am pushing any conspiracy ideas. Cheers!
- Black Blade
Econoclast
(6/3/02; 12:18:10MT - usagold.com msg#: 77343)
I don't usually post links to press articles but....
www.washingtonpost.com/ac2/wp-dyn/A49323-2002Jun2
I think financial privacy is going to become even more important not only to us who already care but to the average person as they get tired of feeling like a suspect.
The Wealth of Kings--stable, secure, and PRIVATE
Tommy P
(6/3/02; 12:01:30MT - usagold.com msg#: 77342)
First Enron now this ....mmmmmmmmmmmmmm
http://money.cnn.com/2002/06/03/news/companies/elpaso_rice/index.htm
Strange don't you think??
Black Blade
(6/3/02; 11:43:32MT - usagold.com msg#: 77341)
CLOUDY FORECAST
http://www.nypost.com/business/49364.htm
Snippit:
June 3, 2002 -- Summer is not looking too good for investors in U.S. stocks. With corporate earnings still in the doldrums, a faltering economic recovery, ongoing concerns about terrorist threats, the danger of nuclear war between India and Pakistan and worldwide turmoil, U.S. stocks are expected to move only sideways this summer. There may, however, be highly volatile days with big ups and downs along the way. "News on Wall Street [is] not likely to convince the average investor that much has changed," said Donald Straszheim, founder of Straszheim Global Advisors. "Headlines like Adelphia are big market negatives." To make matters worse, there is nothing coming up on the economic or earnings calendar that could propel the market up.
Black Blade: It does not look good on Wall Street today. The DOW is down 112, the NASDAQ is down 36, and the S&P is off by 15.5 points. Even so, these market indices are grossly overvalued and poised for more drastic declines. There could be a rush of investment dollars seeking a "safe haven’ or as the financial media pundits are now saying – "a flight to quality" – Gold.
Black Blade
(6/3/02; 11:33:14MT - usagold.com msg#: 77340)
The Dollar Bubble by Stephen Roach (New York)
http://www.morganstanley.com/GEFdata/digests/20020603-mon.html#anchor0
Snippit:
The post-bubble US economy has not been lacking in aftershocks. The collapse in business spending on information technology is at the top of the list. In close pursuit is the meltdown of the telecom sector. But not all of the excesses have been purged. Could the dollar bubble be next to pop?
Our valuation work on the US currency certainly points to a significant overhang. Stephen Li Jen's estimates suggest that the real effective exchange rate of the dollar was approximately 14% over-valued at the start of this year. He bases this conclusion on three measures of US economic performance relative to that of its trading partners -- productivity, terms of trade, and fiscal policy -- plus America's net foreign-asset position. The important point about this valuation exercise is that all four of these fundamental measures are now deteriorating (see his 16 May dispatch, "Four Strikes You're Out!") This underscores an even more painful reality -- that the dollar's valuation overhang is essentially a moving target that is likely to shift to the upside in the years ahead. That, in turn, implies that the recent bout of dollar deterioration -- approximately 3% on a trade-weighted basis so far this year -- has done little to bring the currency back down to earth. In other words, if there's a dollar bubble, it has yet to pop.
Black Blade: The USD has fallen back today. The equities markets are feeling the pinch as foreign investors are pulling out their investments in order to beat the decline on Wall Street and the deteriorating currency exchange rates. About the only positive sector lately has been Gold.
Waverider
(6/3/02; 11:22:17MT - usagold.com msg#: 77339)
YGM
http://www.usagold.com/SwissGoldWGC.html
Re: Swiss Gold sales - the above link here at USAGold provides a good background to the Swiss selling 1300 tons of "excess" reserves. Cheers,
Waverider
Tommy P
(6/3/02; 11:19:45MT - usagold.com msg#: 77338)
Clint H
Deal!
Clint H
(6/3/02; 11:05:23MT - usagold.com msg#: 77337)
Tommy P (6/3/02; 10:34:41MT - usagold.com msg#: 77332)
Tommy, there are may reasons to disagree with the above post. Let's just go buy some more gold and pass on the rest. ;)
YGM
(6/3/02; 11:01:10MT - usagold.com msg#: 77336)
AhhhH Gandalf....
You're almost as fast as Ari.........
monetary tokens:........hmmmmm!! Green, Blue, Gold, Rainbow Fiats should fall in that category also........Maybe the Swiss are on to something :>} Gold & Silver Coin for the Entire realm Sir Michael....Let the Coin Pressing begin!
YGM
(6/3/02; 10:55:06MT - usagold.com msg#: 77335)
Aristotle...
'Big Smile' here..
Should have known that would get your attention first!
Yessiree...Only the "REAL" Thing will do..and the Swiss Gov.
say so!......YGM
"Go GATA & GO PHYSICAL"
Gandalf the White
(6/3/02; 10:52:35MT - usagold.com msg#: 77334)
WOWSERS YGM !!! You get the websurfing AWARD today !!!
YGM (6/3/02; 10:29:16MT - usagold.com msg#: 77329)
New Swiss Law..."No Gold Paper"
http://www.snb.ch/e/search/index.html
===
<;-)
Aristotle
(6/3/02; 10:40:51MT - usagold.com msg#: 77333)
YGM -- Swiss Penalties on Gold Certificates
"Does it bode well for Gold ownership?" Does it??? Does it!!! IT DOES!!!!
My good man, to my eyes this is among the many looks of Free Gold gaining solid ground.
Gold. Get you some. --- Aristotle
Tommy P
(6/3/02; 10:34:41MT - usagold.com msg#: 77332)
Bush had everything to gain by allowing 9/11
You see folks like his dad before him, he also attacked a oil rich country. I don't know the specifics but Afganistan has roughly 10% of all the natural gas and 6% of oil (estimates) that has not been extruded from the ground. you see it was clear back in 09/11/2001 that this was well played out!Why did Isreal Prime Minister cancel his trip the day before? Why do you think the Russians fought in Afgan for 10 years?? Because they wanted the sand???? Why do think Putin/Bush met in Texas for a week? to discuss cattle? or oil and how they were going to split afganistan?
Why were so many Israeli intellegence officers caught in the U.S. The Bush and CIA admin needed a reason to go into afgan and implement there own government to start drilling for oil/n.gas
People everytime you read bush, you must also remember the word oil!
YGM
(6/3/02; 10:34:31MT - usagold.com msg#: 77331)
"Why No Fanfare"???.........Seems Strange....
Swiss SNB Sold 11.1 Tons Of Gold in 10-Day Period To May
Normally this news would be dragged out and made into a big negative for Gold buyers & Specs....What's Up???
TownCrier
(6/3/02; 10:31:37MT - usagold.com msg#: 77330)
Strive for a broader perspective
This should demonstrate why it is important for people to try to grasp the fundamentals of the big picture rather than focusing on the news of the moment -- the little picture.
With an understanding of the big picture, you can confidently establish a mid-term/long-term position without jumping back and forth in some wild attempt to react to the latest changing headlines.
Listed below is just an example of the frustrations that can be caused by the changing news of the "little picture". These two headlines were separated in time by only one hour.
(8:31) Dollar Rises Against Euro After Report Shows Growth in U.S. Manufacturing
(9:32) Dollar Falls Against Euro, Yen on Concern Investors Will Pull Out of U.S.
A broader perspective will help you understand which of these directional movements of the dollar represents the overall trend.
Call Centennial to establish your gold diversification strategy today.
R.
YGM
(6/3/02; 10:29:16MT - usagold.com msg#: 77329)
New Swiss Law..."No Gold Paper"
http://www.snb.ch/e/search/index.html
27: RS 951.11 Art. 65 (National Bank Law)
Summary: National Bank Law VII. Penal Provisions Art. 64 Art. 65a Art. 65 1 Anyone who in contravention of the provisions of Article 39 of the Federal Constitution issues bank notes or other equivalent monetary tokens, anyone who puts such bank notes or monetary tokens into circulation, shall be punishable by imprisonment or a fine; both punishments may be combined. 2 Gold certificates in the form of securities incorporating an ownership right or claim to minted or unminted gold and made out to the bear. . .
Size: 2K, created: May-08-02 16:02
National Bank Law
VII. Penal Provisions
Art. 64
Art. 65a
Art. 65
1 Anyone who in contravention of the provisions of Article 39 of the Federal Constitution issues bank notes or other equivalent monetary tokens, anyone who puts such bank notes or monetary tokens into circulation, shall be punishable by imprisonment or a fine; both punishments may be combined.
2 Gold certificates in the form of securities incorporating an ownership right or claim to minted or unminted gold and made out to the bearer or transferable as if they were bearer securities shall be deemed to be monetary tokens in terms of paragraph 1.
3 These criminal cases shall come under the jurisdiction of the Federal Court.
*****WHAT'S UP WITH THIS AND DOES IT BODE WELL FOR GOLD OWNERSHIP OR E-GOLD FOR SWISS????......NOTE THE DATE THE BANK POSTED THIS INFO...It appears this is a NEW LAW!...YGM
Nomad
(6/3/02; 10:01:27MT - usagold.com msg#: 77328)
CBS Market Watch : Stock Market Crash In One Year ???
http://cbs.marketwatch.com/news/story.asp?guid=%7B8A7E9847%2D363D%2D4913%2DA307%2D25F2996BCBE3%7D&siteid=mktw
Snippit :
Vickers is an investment letter's investment letter. Many services use its data. Veteran Michael Burke of Investors Intelligence has just given his readers his interpretation of the Vickers indicator: "This week was the WORST reading since August 1986. and the previous four were the WORST readings since the Spring of 1993...The HUGE reading back in 8/86 foretold the Crash of 1987 and was one of the reasons we exited the market in August 1987, up over 40 percent for the year and stayed out till after the CRASH!"
This may sound odd, but Burke has explained that he looks at insider data on a year-ahead basis. "If they are buying now, it is bullish for a year from now. If they are selling, it is bearish for a year from now." Mark Hulbert confirms that Investors Intelligence was 100 percent cash during the 1987 Crash.
Cavan Man
(6/3/02; 09:44:37MT - usagold.com msg#: 77327)
@sector concerning 9-11
Not inconceivable that conditions for some sort of strike on US soil were made ripe. There is a very good, recent book by Robert Stinnett about the attack at Pearl. Coincidentally, the author served under GB in the USN during WWII. I digress....FDR's strategy to bring the US into the war against the Axis required the instigation of the attack on Pearl Harbor--an atrocious act "beyond the pale". From FOIA data recently de-classified, Stinnett lays out a compelling story in a non-judgmental context for high ranking US political/military complicity in the affairs leading up to 12-7-41. Does history really repeat itself? Regards...CM
Around The Corner
(6/3/02; 09:29:14MT - usagold.com msg#: 77326)
Re: Golden Bear (msg#: 77321)
http://www.bankindex.com/read.asp?ID=784
SNIP: Over the ensuing months and throughout 2001, the FBI, CIA, and other U.S. intelligence agencies became increasingly aware that individuals known or suspected to be linked with bin Laden or other terrorists groups, had been slipping into the country. They also knew that suspected terrorists on the FBI's "watch list" were receiving flight training. And they knew that men on their "watch list" were holding late night meetings that were attended by other men who were being watched, and many of these men then attended yet other meetings at different locations with yet other men on the FBI's "watch list" as well as with men who would later carry out the 9/11 attacks.
In fact, a dozen different individuals that the FBI maintains on a "watch list" and who were under some form of surveillance, shared the same U.S. addressees and were in fact living with several of the 9/11 hijackers.
For example, eight of those on the FBI's watch list lived at the same address as two of the 9/11 hijackers: Hamza Alghamdi and Ahmed Alghamdi. All ten men shared a dormitory at Flight Safety International--a flight school in Vero Beach--and were training to be pilots. Hamza and Ahmed were on the jet that hit the south Tower of the World Trade Center.
Yet another certified pilot on the FBI's watch list shared an address in Daytona Beach with Waleed Alshehri, a hijacker on the flight that struck the north Tower of the World Trade Center. Also at that address: Saeed Alghamdi, a hijacker on the flight that crashed in Pennsylvania.
Waleed Alshehri and his brother Wail Alshehri, also shared yet another address with a woman living in Hollywood, Florida, who was also on the "watch list." And, she shared their surname: Alshehri.
A Coral Springs man who was also on the FBI's watch list shared the same address as Marwan Al-Shehhi and Mohamed Atta. Al-Shehhi and Atta piloted the commercial jets that struck the Twin Towers of the World Trade Center.
The FBI was not only aware that Mohamed Atta was in the U.S. and receiving flight training, but that he been implicated in previous terrorist attacks, and had met with a senior Iraqi intelligence officer. In fact, by law, Atta and his "cousin" Marwan, should have never been granted visas or allowed into the country; yet in the months prior to 9/11 they were allowed to continue their activities unhindered.
They were not alone. Several of the other hijackers had also been granted visas and allowed into this country in the weeks and months before 9/11 although they were known to be veterans of previous terrorist attacks. Salem Alhamzi and Khalid Al-Midhar were on a special terrorist-watch list given to Border Patrol and I.N.S. agents on August 21, 2001.
There were excellent reasons for keeping an eye on Khalid Al-Midhar and to prevent him from entering the country. The year before he had been videotaped meeting with one of the suspects in the Oct. 12, 2000 terrorist attack of the USS Cole. Yet, Khalid Al-Midhar had no difficulty entering the United States. Although the I.N.S. and Border Patrol had been alerted, Khalid Al-Midhar, a man known to have been associating with known terrorists, legally entered the United States on a business visa.
Salem Alhamzi also waltzed right in and did so in a "legal" manner. He had a business visa.
Despite the fact that Alhamzi and Al-Midhar were considered dangerous, they were allowed free entry into the U.S., and immediately set up housekeeping together at the Marriott Hotel in New York, which was listed as their official residence. Three weeks later, on September 11, Khalid Al-Midha and Salem Alhamzi would hijack American Airlines flight 77 and then crash it into the Pentagon.
The FBI, CIA, and Bush administration, not only had advanced and detailed information and then did nothing to prevent the 9/11 assault and murder of 3000 Americans, they tried to cover it up and then lied about it. END SNIP
I realize the author of the above has taken a slew of individual objective facts and pieced them together, resulting in what he sees as the logical reason why our multibillion dollar a year funded CIA/FBI "failed" to prevent the attacks on 9/11. The curious thing about this article is, the author didn't have to "jump through hoops" to reach his conclusion.
Friends, we are smack-dab in the middle of the most dangerous time in our nation's history.
Buy Gold and Silver, and be quick about it.
Gandalf the White
(6/3/02; 09:17:40MT - usagold.com msg#: 77325)
JUMP SPOT, JUMP !!
Looks like the action is in NY again today !!
What will happen after HIGH NOON (NY time) today will tell the story of this WEEK. Like BB says, "Interesting Times"!
<;-)
RobotGuy
(06/03/02; 08:00:02MT - usagold.com msg#: 77324)
Charts, Data, Interpretation.
By studying the historical patterns of gold spikes, I have noticed almost a semi-parabolic trend immediately before a rapid increase in the POG. By rapid, I mean over the course of lets say two weeks to one month to travel in the range of 40% higher than it's current level. I am no trained individual in these matters, more of a speculator than anything, but if you take a close look at all of the moderate to large spikes in your historical gold charts, you should be able to observe what I am speaking of. Perhaps this is a known pattern, and I am just regurgitating known facts, but I haven't been made aware of these facts other than my own observation.
The POG over the course of the last six to eight months would indicate that we are on the doorstep of a major POG increase!
RobotGuy, - - - Often wrong, but always willing to share!
Jimbo
(6/3/02; 07:30:00MT - usagold.com msg#: 77323)
Thanks, GoldnSilver2002
That's what I thought you meant, but just wanted to be sure I understood. Unfortunately, I find myself getting very paranoid these days over gold's performance. (Perhaps it's a collection of negative reactions I accumulated during the dot.com fiasco, when I lost money.) Last week, for example, when the POG was going up, several of my gold stocks went down (most notably, GFI). Then, at times when I least expect it, the same stocks soar. All this to say, I find it almost impossible to predict with any accuracy what gold investments will do day-to-day. One more question, please: why, when gold hits 354-360, will the "old boys of the cabal" possibly lose control, allowing gold to soar?
Interstate
(6/3/02; 07:15:54MT - usagold.com msg#: 77322)
Aristotle and Belgian
May I begin with an apology for intruding in your exchange? I have great respect for your wisdom in the world of economics and I was quite interested in your ideas yesterday. This being a forum, I thought that one could add to a post, ask for clarification or even challenge it. I don't just come in and go. I am an avid reader here and post when I feel I have something of value to say or if I need clarification. My expertise in economics is non-existent, although, I am learning from the knowledge shared by the generousity of the posters here. I began my interest and collection of gold in the early '80s, but it was the result of gut feelings only. Now, I want to learn the machinations of the financial process.
I appreciate the time and thought you put into the clarifications for me. It was of great help and understanding. I shall continue to expand my
knowledge by reading here. I read a lot of books, so I am getting an historical perspective, but I want to know the significance of what is happening NOW. Thank you for aiding me in my quest.
Interstate
Golden Bear
(6/3/02; 07:08:36MT - usagold.com msg#: 77321)
sector (msg#: 77320)
It went further than that: On Fox News the other night, an FBI field agent was interviewed who said he had mounting evidence of a planned strike, and was told to stop investigating by his superiors - they DIDN'T want to know about it...
Also, the Naval Agent Mike Vreeland who wrote down on a piece of paper and handed it to prison officials in Canada 1 MONTH before the attacks, that the WTC and pentagon were targets. He tried to notify US Officials, and again, they didn't want to know! (www.copvcia.com).
Why destroy the perfect excuse to invade Afghanistan and control the future route of Caspian Oil shipment to the US?
By the way, Mr Karzai, the Afghan leader, is a UNOCAL official...
sector
(6/3/02; 06:38:14MT - usagold.com msg#: 77320)
@Hipplebeck...The Oil Cards
Whipping Up Support for an Iraq War is a Bit tougher than Expected
Especially after the CIA's and FBI's stupendous terrorist bungling has raised questions that perhaps the last two Admins WANTED 9/11 [Or something like it] to happen.
"It's about oil" is a very good default answer to any current foreign policy question.
For thinking people, the really important answer to the oil question is gold.
Let's hope that the "Queen" falls on the appropriate chump.
Belgian
(6/3/02; 06:25:52MT - usagold.com msg#: 77319)
@ Hipplebeck
Sir, do you think that the Russians will let the US get away with their conquest of ME cheap oil ? Do you think that Russia will accept that the US shall pump ME oil at the dollar's dictated price and value ? Than you (or the US) did not get the full meaning of the 9/11 message .
Warfare has taken another dimension : TERROR ! The Russia/Iranian ties are there for power balance. An all out US attack on the oil-fields with temporary rising POO and an euro-manoeuver to push the dollar under water (plus SM-crash), comes at a very difficult moment for the US !
How can you explain the US being confident of shooting to the moon.
The US conquest of ME-(Iranian) oil could be a tactic to avoid future oil for euro. Why should Russia be at the US's (oil) service ? Do you really think that all mini-nukes are safely locked up only to deter ? Don't forget the complicating Chechnya factor in the (islamic) equations.
Not that simple...isn't it Sir ?
Timbervision should read Interstate (sorry for confusion).
nickel62
(6/3/02; 05:40:11MT - usagold.com msg#: 77318)
Hipplebeck
Sorry about the mistake on your name.
nickel62
(6/3/02; 05:39:24MT - usagold.com msg#: 77317)
Hipplewhite Great Post!
A lot of accurate insights in a short post, congrats.
Hipplebeck
(6/3/02; 05:31:48MT - usagold.com msg#: 77316)
about Russian oil
The reason that the push is on to get Russian oil on a steady trade operation into the US is so that the US can attack the Arab countries without being completely shut down.
The fight is between rounds right now, but the two sides (Isreal and the Arab countries) will soon come out swinging again. The Bushies want all that Middle East oil under their control, the Isrealis want all of Isreal. The Arabs know that they are at war right now and are fighting the best way they can. They are joining together and they are fighting in the economic arena. The great chess game of global dominance goes on. Or another analogy that has been on my mind lately is that the US (and their golbal elitist buddies) are in a game of hearts and they have decided they have a strong enough hand to "shoot the moon". There are a few high cards still unaccounted for though. My opinion is that now that the world sees what is planned, they will covertly sabotage those plans. American arrogance is in full bloom, and it aint pretty to the world audience.
Belgian
(6/3/02; 04:14:22MT - usagold.com msg#: 77314)
Russian, Middle East and all other oil and gas.....
They will always demand the highest possible price for their resource and payment with a currency that is most trusted, by this producers (!!!) for its future purchasing power, for them ! Most resources (oil/gas) are to be found in the poorest regions on this globe ! A conflict of interest between state owned resources and private interests has been and still is exploited at the dollar's advantage. Euroland in particular has been profitting from this for quite some time now. Euroland has the desire to change this, so they can take over the orchestrating stick.
The Russia / German / US interactions on oil and gas are very crucial. It is a major element in the dollar/euro (gold) realignment. An interwoven web, constantly altering whilst evolving.
The US wants the "cheap" oil and Euroland (Germany) wants Russia (for trade) and the Balkan, *through* the oil and gas agreements (old dreams never dy)! Hughe Big difference.
The US is NOT interested in an economical, to become, strong Russia. Euroland has to play/balance the private and state conflicts inside Russia. In analogy with the feodal M.E. Arabian oil regime(s). The elite's powers who were dollar-addicted, will slowly be shifted to the people's power in the hope they will chose the gold-euro as their future ally. Euroland playing the social aspect of prosperity with the currency-instrument.
Aristotle, it is against this growing background that you have to judge on the future purchasing power of your american dollar. But, you already made your choice and opted for the safest alternative : THE MOST UNIVERSAL PHYSICAL IN POSSESSION ! I did (still doing) the same .
Not to replace that, old and dying, personal dollar (reserve) standard, but for the GOLD element into the whole euro-concept of GROWTH and STABILITY.
Black Blade
(6/3/02; 04:13:10MT - usagold.com msg#: 77313)
The Gold Bugs Are Lighting Up
http://www.businessweek.com/magazine/content/02_23/b3786044.htm
Prices may keep rising as inflation lurks and the dollar swoons
Snippit:
With regional conflicts, deficit spending, a declining dollar, and hints of inflation on the rise, investors are rediscovering an old standby--gold. From a low of $257 an ounce just over a year ago, gold has jumped 27%, to $327 an ounce, as of May 29--a level not seen since the fall of 1997. For gold bugs, the sharp climb is vindication. During much of the '90s, the dollar and Treasury securities posted superior returns, as central banks worldwide dumped the mineral in exchange for those assets. Gold fans saw only short-lived spikes. In 1999, investors bid gold above $325 on the prospect of more orderly selling by central bankers, but that price proved unsustainable as the dollar continued to rise.
Black Blade: Positive article on Gold from "Business Week". Everyone wants to get on the bandwagon now.
Belgian
(6/3/02; 03:06:00MT - usagold.com msg#: 77312)
@ Ari and Timber....
Allow me trying to re-write my understandings of that US$ reserve currency that has so many different mental associations in one :
The US$ as currency for Americans and that same dollar as currency for the many different *other* (non Americans)holders/users (workers and wealthy). This US$ as a "reserve" had (!) a glorious past. But soon, all the different reasons for holding or using that unique reserve currency by Americans and non Americans is to change. This change will be dramatic for the simple reason that the US$ reached its fullest status of "personal" and "individual" standard, with all its different nuances. The dishoarding of that US$ money/saving/commodity, will evolve at different speeds and volumes in time.
The most recent example of Cuba's public announcement (encouragement) to accept the euro as valuable currency...is another evidence of the ongoing proces.
Cuban's monetary thoughts (mental value associations) will still be conducted in terms of their local currency, there to stay for an unknown future. But something will/has changed for them. That almighty, unchallenged, US$ has been challenged. Now they enter a process of evaluating this challenge between $ and €. This same process was/is/will be initiated in so many different parts of the world, where a certain dollar-fatique or even dollar hostility is growing.
TG deep insights on the dollar/euro-challenge are alive and kicking.
Now, can we and many others switch from one US$ standard to a double $/€ standard ? Unpractical, isn't it ?
All those different processes of $/€ evaluations will/must result in final choices. Hard choices with less and less compromises for billions of workers, savers and wealthy few. Now we come to understand what TG means by currency "management". And it is eactly within the secrets of those two completely different managements ($/€) that GOLD makes the black and white difference.
Hoarding and/or dis-hoarding of dollars for euro is not exclusively a matter of commodity or money matters in this very early stages of CHANGE (TRANSITION)! It will differ as soon as the GOLD factor is fully and openly incorporated into the new currency concept.
And yes indeed good Sirs...here we have it : What has GOLD to do with the future dollar and euro ? Fidel Castro doen not suspect that the euro currency has a liaison with Gold.
He even doesn't care. But the euro architects and US dollar printers, do ! Shall we, the workers/savers/wealthy, still sing...working for the yankee dollar, oh-tic-o-tic...oh-tic-o-tac, much longer ?
The point of our exchange of vieuws is clearing out how Americans and non Americans see/feel about that old US$, growing older and older. In these vieuws we do have to turn around the GOLD axis, bad for the dollar, good for the euro.
So we both, Americans and other can profit from what is to come. That makes it such a nice and interesting place to be here at CPM. Thanks folks !
Another perceptual difference between the aging US$ and the rising euro are their "social" connoctations (true or false-good or bad). But the euro offer to joiners is horizontal and the dollar has always been imposed and has that dominant oppressing character. A very important argument for the many who will have to make their choices gradually after the evaluation of both (reserve) currencies. Conquering the world (sorry, a big part of it) without one shot ?
Black Blade
(6/3/02; 02:23:31MT - usagold.com msg#: 77311)
Re: Artie
Better than that (taxes). Currently there is a big face off between the BLM and EPA over Coalbed Methane drilling in the Rocky Mountain Front, and various locations in the southeast. Coalbed Methane (natural gas) may be the next largest source of cheap energy that could produce twice as much methane as conventional natural gas drilling. This face off threatens to postpone the supply of natural gas to power generating facilities that depend on clean burning natural gas. After the defeat that the Bush administration suffered over the proposed drilling at ANWR, they really don't need to suffer another setback if they lose the fight on the Rocky Mountain Front. What better way to promote the drilling for Coalbed Methane than to sell it as the solution for appeasing those who fear "Global Warming" and override the public "environmentalist" fears. This kills two birds with one stone. A real smart move on Bush and Cheney's part that secures a vital clean resource. Cheers!
- Black Blade
Artie Farkle
(6/3/02; 02:08:35MT - usagold.com msg#: 77310)
To all
http://www.drudgereport.com/flash91.htm
U-TURN: BUSH ADMIN OUTLINES 'GLOBAL WARMING' EFFECTS ON AMERICA; ACKNOWLEDGES DAMAGE
In a stunning U-turn for the Bush administration, the United States has sent a climate report to the United Nations detailing "specific and far-reaching effects" that it says "global warming will inflict" on the American environment.
END SNIP
Comment: Could George W. be laying the ground work to deal with a coming fuel shortage? Maybe a higher fuel tax?
How might this affect gold and mining?
ski
(6/3/02; 01:14:08MT - usagold.com msg#: 77309)
Contrarian Indicator for Silver
Contrarians often wisely look for "WHAT ISN'T HAPPENING" in a given investment arena to give them clues for the future. On Friday, silver broke solidly through the five dollar level and yet there has been almost no mention of it on one of the most popular goldbug sites on the internet. (this site) What gives? Was I the only one that noticed that the percentage gains in silver last week more than doubled those of gold?
Given the above, contrarian analysis says that it is still very, very early in the new bull market for silver and the largest percentage gains are here. IMHO
Horatio
(6/3/02; 00:49:05MT - usagold.com msg#: 77308)
Silver, Gold Standard
The U.S. should go on the Silver standard as should Mexico
Central and South America and England since thier investments and trade are tied to the U.S..Europe and surrounding countries
and countries that predominately trade with Europe should go on the Gold Standard.The Ratio of gold to Silver will need to be fixed in order to have stable trade relations with no devaluations ,thereby removing devaluations as a trade weapon.
This will lead to confidence in government, savings increases
less dependence on debt and wealth by increases in trade and lower taxes.Before this can happin a final devaluation of all paper currency needs to take place.The price of gold and silver need to be high enough to stimulate trade.The forces of bankers
will need to be silenced ,they will try to keep the price of gold much lower than is needed so as they might get a paper currency advantage.We will need politicians with the courage of Jackson and the intellect of Hamilton to accomplish this.
Divine intervention may be needed,but it happened before when the founding fathers were all living at the same time .If America is deserving it may happin again.
Black Blade
(6/3/02; 00:36:34MT - usagold.com msg#: 77307)
Weaning Off the Barrel
http://www.themoscowtimes.com/stories/2002/06/03/050.html
Snippit:
For years, the economy has been addicted to high oil prices. But, as Ben Aris reports, by keeping the taps open, President Vladimir Putin has managed to break Russia's crude habit.
"Putin came to the job of president convinced that the 1998 financial crisis was caused by Russia's overdependence on oil. His first priority since then has been to break this addiction by boosting production so that Russia Inc. is profitable at any price," says Chris Weafer, head of research at Troika Dialog. "And he has already succeeded."
Weafer believes Russia has kicked its habit of coasting along and relying on oil exports to bail out the economy while reforms are ignored. Rising oil production means Russia has already passed the crucial breakeven point. From now on, oil money is only going to make reform easier.
The key to understanding Russia's attitude to oil, Weafer says, is to realize that the budget needs to generate about $20 billion per year from oil-related taxes to balance. President Vladimir Putin's strategy has been to encourage oil companies to increase production as fast as possible: the more they export, the lower the price of oil can be to earn the money the government needs.
The oil production high is temporary as Russian companies are working at full capacity, while Saudi Arabia is at two-thirds capacity, but the export record is permanent, and Russia is unlikely to give up territory gained to OPEC, which has been badgering Russia to cut production to boost sagging prices.
Energy was high on the agenda during U.S. President George W. Bush's visit here last month. U.S. Undersecretary of Energy Robert Card had said in an interview with Kommersant at the end of April, "The U.S. is seeking increased supplies from Russia. If Russia offers a reasonable price, we will buy oil in Russia."
Black Blade: It still is doubtful that Russia can fill the void if OPEC oil is cut significantly. It is also doubtful that Russia can produce oil cheaper. Still, it is interesting to see that the old Russian propaganda machine is still at work. Though an interesting article.
Aristotle
(6/3/02; 00:27:52MT - usagold.com msg#: 77306)
Sir Interstate, upon taking a second look, maybe this would have cleared things up
The first line of my 77290 post to Sir Belgian was "You'll notice that I included the word "sweat" out of respect for your latest offering."
That post grew in the process of writing it beyond my initial purpose, which was to be just that one-liner tip o' the hat through calling his attention to my use of the world "sweat" in my previous post on taxation.
I had admired his post earlier that day, and that's why I chose my words thusly in my 77284 post about taxation:
"A nation's natural resources cannot dodge. Oil in Texas and Gold in Nevada cannot be extracted in the New Republic of Banania where workers are willing to sweat for low pay (in dollar equivalent) and corporate taxes are lower."
In hindsight, seeing how this distinction was likely lost completely because my subsequent post grew to ALSO include this term in respectful reference to the diligently toiling masses, that latter post to Belgian would have began on a clearer note for your interpretation if I had revised the first line to read as follows:
"You'll notice ***in my #77284 taxation commentary*** that I included the word "sweat" out of respect for your latest offering."
Oh well. I'll try harder next time to eliminate these margins for misinterpretation.
Gold. Get you some. --- Aristotle
Black Blade
(6/3/02; 00:12:23MT - usagold.com msg#: 77305)
Mid-East Oil Producers Oppose Production Hike
http://www.tehrantimes.com/Description.asp?Da=6/3/02&Cat=9&Num=17
Snippit:
TEHRAN -- Middle East oil-producers renewed calls for OPEC not to yield to western pressure in increasing global oil supplies in the third quarter of 2002 this week. The outgoing Secretary General of Organization of Petroleum Exporting Countries (OPEC), Ali Rodriguez on 30 May 2002 kicked off in Qatar a Persian Gulf tour that will lead him also to Iran, to evaluate the market ahead of the organizations meeting on 26 June 2002 in Vienna.
Iran, OPEC's second largest producer after Saudi Arabia, on 28 May 2002 said that there was no need to increase production. Evaluating the situation in the market, the Oil Ministry sees it as being stable, Iranian Deputy Oil Minister, Mohammad Mir-Moezi said. Qatari Energy Minister, Abdullah Bin Hamad Al-Attiya shared the same view. There is no reason for Qatar to increase production. The $25 per barrel price is reasonable for consumers and producers, Mr. Al-Attiya said. Most of the OPEC members have spoken so far in favor of maintaining in the third quarter 2002 the current 21.7 million bpd output ceiling set for 10 of the producers. The eleventh member, Iraq, is not bound by the quota system because of UN sanctions and produces around 3 million bpd.
Black Blade: This was expected as the trading range of $22.00/bbl to $28.00/bbl is being maintained.
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