 | "Treasure chests throughout history have been filled with gold, and not by idle choice." |
ARCHIVED DISCUSSION FROM 2/3/2006
All times are U.S. Mountain Time
(Yesterday's Discussion.)
PRITCHO
(2/3/06; 23:37:42MT - usagold.com msg#: 141311)
@ OVS - - - New Calculator Needed
SNIP:
If the gold in the
US Reserve Assets
would be valued at
570 instead of 42
the total reserve
would be over 200
billion instead of
65 billion.
-------------------------------------------------
A Recount should show that the reserve value would be over 880 Billion - -not over 200B - -
A big difference for sure.
Chris Powell
(2/3/06; 22:16:03MT - usagold.com msg#: 141310)
Barrick's settlement with Blanchard
While the settlement of Blanchard & Co.'s lawsuit
against Barrick Gold has been sealed in U.S.
District Court in New Orleans, the evidence is
overwhelming that it consisted largely of
Barrick's pledge -- which Barrick has confirmed
in public -- that it would cease its gold hedging
operations for 10 years. The recent huge rally in
the gold price has coincided with two notable
events -- the settlement of Blanchad's lawsuit
and GATA's Gold Rush 21 conference in Dawson
City, Yukon.
Having stopped Barrick, the biggest gold hedger,
from any more hedging, Blanchard has made an
enormous contribution to the gold cause, a
contribution that already has been worth billions
to gold investors. This is far more than any of
us here have contributed to the cause.
The first questions to be asked of those who
complain that Blanchard's efforts against Barrick
were inadequate may be: How have YOU helped? What
did YOU contribute to Blanchard's work? Or did
you just go along for the ride at the expense of
others?
Chally
(2/3/06; 22:08:07MT - usagold.com msg#: 141309)
Checking in....Thank You MK and 'regulars'...
Been lurking here every single day since 2/03, trying to take it all in. Still don't know if I've 'got it' yet, but I understand enough to know that I'm in the right place, and (now) so is a growing portion of my 'wealth'!
Thanks to all here who have been so dedicated in teaching those who would hear the message. I could go on, but it'd probably sound like a cheap commercial for our host and others....well OK, maybe tomorrow, but it's getting late for such a diatribe tonight ;-)
Chris Powell
(2/3/06; 22:04:21MT - usagold.com msg#: 141308)
ROB-TV cites Cheuvreux report as gold analyst predict 'an accident'
http://groups.yahoo.com/group/gata/message/3640
Latest GATA dispatch.
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com
OvS
(2/3/06; 21:13:46MT - usagold.com msg#: 141307)
Hoosier
Some people interpret
large caps as screaming.
We can hear you loud and
clear in small caps.
donnemuir
(2/3/06; 21:04:46MT - usagold.com msg#: 141306)
Checking in
Been lurking here since very near the beginning...thanks for the best education available; for winning 2 contests (one 1st one 2nd place)...and thanks to George for spending time with a real small time (but committed)gold buyer.
MK
(2/3/06; 21:02:12MT - usagold.com msg#: 141305)
Black Blade
I was among those who counted David as a friend. He is missed -- a warrior for the golden cause. I wish he could have seen this, and had the opportunity to take a few of his legendary swipes (at those who usually deserved it) along the way.
HOOSIER GOLDBUG
(2/3/06; 20:00:36MT - usagold.com msg#: 141304)
BLACK IS WHITE AND WHITE IS BLACK!
When President Bush Lies or is Accused of Lying-We Trash Him, Cut Him Down, Write Negative Editorials Regarding His Speeches, Policies,Etc, without any NEW ideas to get things resolved, militarily, domestically, economically, socially, etc. .
When Donald Doyle and Blanchard & Company LIES, SENDS OUT CIRCUATION AFTER CIRCULATON EXPELLING HOW THEY HOLD ALL THE GUNS AGAINST JPMORGAN/CHASE AND BARRICK,AND THEY HAVE ALL THE EVIDENCE, AND DON'T WORRY ABOUT LEGAL FEES-WE ARE GOING TO COVER THEM AT OUR EXPENSE, and REGISTER YOUR NAME, ADDRESS, E-MAIL, ETC.AT OUR "SAVEGOLD" WEBSITE IN ORDER FOR US TO KEEP YOU UP TO DATE ON WHAT IS HAPPENING,AND YOU ARE PART OF A CLASS ACTION LAWSUIT SEEKING DAMAGES WITH COMPENSATION FORTHCOMING, ETC, ETC, ETC,AND THEN STRIKES AN OUT OF COURT SETTLEMENT WITH NOTHING BUT WORTHLESS PROMISES-We Need to Praise Him/Them?????????????????????? OH YEA, WHITE IS BLACK AND BLACK IS WHITE. I will NEVER forget as long as I live what Chris Powell of GATA said when a whole lot of people, even some on this forum, jumped on Mr. Doyle for SELLING OUT, when it had been announced that part of the lawsuit had been settled with JPMORGAN/CHASE, that MR. DONALD DOYE would NEVER JEOPARDISE/COMPROMISE THE POSITION OF GOLDBUGS IN ANY WAY REGARDING THE UNDENIABLE INCRIMINATING EVIDENCE AGAINST THE DEFENDENTS with regards to his ongoing lawsuit, which a FEDERAL JUDGE had agreed that the evidence would be impelling against the defendants if it ever went to trial . O YEA, I FORGOT, WHITE IS BLACK AND BLACK IS WHITE.
If the $2,000 or $30,000 Owed For GOLD Would Have Been Paid As It Rightfully Should Have In The First Place a Long Time Ago, We Would Not Have to Worry About POOR AFRICAN MINERS, POOR AFRICAN NATIONS, POOR AFRICAN MINERS NOW DECEASED, WORLD HEALTH ISSUES, MINING COMPANIES AND THEIR EMPLOYEES WHO WENT BROKE, UNFUNDED PENSION PLANS, NEGATIVE SAVINGS RATES, 401K PLANS WITH LOW BALANCES, SOCIAL SECURITY REFORM,ETC.
I Am Not Like Some Who Pray That We Should Not Receive What We Are Owed. If we are eventually going to reach those levels, WHY NOT NOW????? O, BUT WHITE IS BLACK AND BLACK IS WHITE.
OvS
(2/3/06; 19:54:54MT - usagold.com msg#: 141303)
Black Blade.
If the gold in the
US Reserve Assets
would be valued at
570 instead of 42
the total reserve
would be over 200
billion instead of
65 billion. Now, if
the price of gold
should reach 5,000
then we would be
talking of 1.5 plus
trillions. In the
larger scheme of
things still peanuts.
AllanC
(2/3/06; 19:27:14MT - usagold.com msg#: 141302)
@Black Blade
And a Negra Modello raised to you to, sir. (If I only had one in the fridge :-(
Apologies for not mentioning you in that elite grouping. You were telling us about peak oil long ago.
And in appreciation of those postings, I invested and made a few bucks along the way.
Thank you and I hope you never wander too far from us.
Black Blade
(2/3/06; 19:02:25MT - usagold.com msg#: 141301)
The Truth Is Revealed About Precious Metal Price Forecasts By Analysts in 2005 And Their Predictions For 2006
http://www.minesite.com/storyFull5.php?storySeq=3286
The Truth Is Revealed About Precious Metal Price Forecasts By Analysts in 2005 And Their Predictions For 2006
Snippit:
Those who have watched gold prices for the last few years may be wondering what has happened to Andy Smyth of Mitsui Precious Metals who used to be very voluble with his opinions. Well, he was the second biggest bear of gold last year with a forecast of US$390/oz and was the biggest bear of silver at US$5.65/oz. In platinum he was also well below most of his peers and he only came close with palladium. This year he no longer features among the forecasters and is said to have left the precious metals industry for a new career in fund management
Black Blade: Not that gold mega-bear Andy took my advice, but over the years I had questioned why he took up a career in precious metals analysis when he so despised the metals. I was even chided once by Tim Wood as being "scathing" in my suggestion that Andy seek a career where he would be happier (still get a chuckle out of that). Anyway, looks like it should be an "interesting" year with much higher forecasts for the precious metals.
Black Blade
(2/3/06; 18:53:10MT - usagold.com msg#: 141300)
U.S. International Reserve Position
http://www.treas.gov/press/releases/20061311151427903.htm
This is either good for a laugh or should have you grabbing precious metals with both hands:
The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $65,622 million as of the end of that week, compared to $65,783 million as of the end of the prior week (see table at link).
Note the US gold stash - valued at $42.2222/oz.
- Black Blade
Prometheus
(2/3/06; 18:49:27MT - usagold.com msg#: 141299)
Checking In
I've been reading the forum every day since 1998 or 1999. It's one of three places I read every day. I'm constantly amazed how well informed I'm able to keep just from reading this forum. What a wonderful place to come and learn. Thanks a bunch, MK.
I have one request for you, MK. Whenever you post a message you always clarify something for me. You have such insight and depth of knowledge, and such a way of shedding light on difficult subjects. I always learn from what you say - even more than from some of the other illustrious posters here. I would like to make a special request that you post more often, especially when some of the more difficult topics come up. I would love it if you would share some more of your wisdom with us.
Thanks to you and Markettalk for your help. My shiney is looking mighty finey!
Mr. Gresham, are you still lurking, too? How's my fellow Houstonian these days?
P.
Goldendome
(2/3/06; 18:32:14MT - usagold.com msg#: 141298)
Don Coxe talks Gold, Silver, and Federal Reserve
http://www.bmoharrisprivatebanking.com/webcast.asp
Due to huge requests, Don Coxe on his web radio cast, talks silver and gold. Listen in at the posted web link with windows media player or Real player.
Don and his guest respond to a recent article in the Wall street Journal which stated, "The Fed shouldn't think about stopping it's tightening given the signal from Gold."
Don doesn't think the that the Fed will pay much attention to what gold is doing--they're more concerned with what inflation in goods and in what the economy is doing.
Don says that the Gold EtF has changed the entire dynamics of precious metal investing and soon the silver ETF will also. The gold ETF is now the 14th largest holder of physical gold in the world. He gives the reasons, many are investing there.
The guest (also from their banking institution) says that they have revised upward from $600 [that's way to easy a call now, they feel] to possibly $800/oz. within 2 years.
The guest sights many reasons for the gold rise. Many which have been covered here in depth.
1) Asian investment--they have a proclivity for gold in all forms.
2)Diversification of $ holders into another asset. Gold and silver (something not paper.)
3)Momentum investing by the hedgefunds. [not necessarily a good thing in the longer run.]
4)Under-supply and under developement of new mines due to low prices for 2 decades.
Don compares the charts of of Gold and Silver with that of other comodities: oil, copper, all the metals and finds that only recently have they over performed in relation.
In relation to the stock indices all comodities are way out front and he notes the shares of some notable recent glamor group growth stocks (e-bay, amazon, google, etc.) that are now underperforming and concludes, that investors are now looking for value instead of growth.
--------------------------
G-dome: Possibly the rise of the metals can co-exist peacefully with the U.S. Federal reserve. That the reported low inflation rates in goods particularily, (even though there may be some hijinks that goes into the figuring) will preclude the Fed. raising rates to put a lid on the gold price rise.
slingshot
(2/3/06; 17:58:34MT - usagold.com msg#: 141297)
Russian Gold
My Question is for TownCrier.
If the Russian Government, as per its announcement to increase its gold reserves, has any effect on the amount of gold produced by any foreign mining corpration as to the exact amount of gold mined? That is to say unreported gold produced ending up in governmental coffers. Could it be that contracts sign with a clause allowing the mining company to operate within its borders only report a percentage of ore mined. This would be conceivable if you take oil and its unreliable amounts remaining in reserve in major oil fields. Who to trust? Drill results bearing large desposits of ore can be easily recanted or can be undereported while the mine continues to operate making a profit but not as much as it should be.The Russians have the right to buy all mined ore produced first.
Trust but Verify
Slingshot----------<>
Shapur
(2/3/06; 17:47:00MT - usagold.com msg#: 141296)
Checking in
I hope all are well! I have been lurking, reading and posting once in a while (even got into a heated discussion with MK about the "great" dr. greenspan)--MK, I thought you were going to kick me off because I took a strong stance against you, but you were tolerant of my opinion.
I think I first came across this site in 97 or 98. Great discussion and much education gleened.
The times have indeed changed since then. Things around the world are coming undone and I am afraid we are in for difficult times ahead.
I miss the great posters. But I enjoy what we have today!
GOOD LUCK, happiness, and health to all!
eric
(2/3/06; 16:56:31MT - usagold.com msg#: 141295)
checking in
I have visited most days for a year or so and very much appreciate the forum and it's gold experts. Keep it up!
Many thanks.
TownCrier
(2/3/06; 16:53:13MT - usagold.com msg#: 141294)
Russia's first taste of life under practice of MTM floating gold reserves
A few days ago I touched on this in a quick post, but here is a more detailed elaboration.
Official stats of International Reserve Assets (for Nov) as reported at the end of December 2005 shows the Russian status with both feet in the "Old IMF" world. Under that regime gold reserves were underutilized, valued at an artificial level, in this case the official book value was $300/oz.
With official gold reserves weighing in at 12.43 million ounces, Russia reported its gold-related liquidity at a value worth $3.730 billion.
Next, having taken positive steps into the "New European" world (i.e., euro-style reserve accounting), Russia enjoyed its first taste of the new regime when a week ago it provided its monthly update of its International Reserve Assets (for Dec).
Not only did Russia put on an extra 10k ounces to its gold holdings during the month (12.44 million oz), it also fairly marked the whole pile at month's end to the then current market rate of $510/oz.
The result was a newly reportable (and more accurate) gold-related liquidity among its international reserves of $6.349 billion -- an increase of $2.619 billion.
Not a bad initial day's work for a paltry 387 tonnes (a nine-foot cube) of yellow metal.
As for a view forward, current market prices are $60/oz higher than they were, so on a MTM-basis Russian gold liquidity has subsequently increased by Another $750 million.
Given this solid (non-debt) view of how things could/should be, doesn't it make sense that Russian monetary authorities would tend to more strongly continue to gravitate toward accumulation of gold (in support of both the int'l market as well as domestic producers) rather than the old system of accumulation of ever more debt-ridden IOUs from New York and D.C.?
Here you see the basis for freegold pricing growing feathers. One day it will fly.
R.
slingshot
(2/3/06; 16:50:11MT - usagold.com msg#: 141293)
Farfel
I raise a Black and Tan.
Slingshot--------<>
Black Blade
(2/3/06; 16:38:55MT - usagold.com msg#: 141291)
Wow! A Few Long Lost Posters!
Good to see a few old names checking in. It has been a long time. I was just randomly looking through the archives. There are a lot of old posters who are MIA. Unfortunately I am certain that there are a few who are no longer with us. Last year Farfel (David Cohen) passed away and did not get to see the resurgence of the precious metals. Still, a lot of people checking in who haven't been actively posting for a while. I raise a ice cold Negra Modelo in salute!
- Black Blade
slingshot
(2/3/06; 16:21:37MT - usagold.com msg#: 141290)
Hello Hoosier Goldbug
Always good to hear from you but you said.
I really believe there is No way Goldbugs will win this fight for real money.
Well I am not in this fight to be defeated. Each new day we have more join our ranks and I might say this is remarkable considering the years of easy money.
The young today buy homes/cars/ boats and other high ticket items and the live for today attitude is pervasive. Only when they are reaching retirement do they feel the pressure and those boats and cars depreciate and by this time the equity is drawn from their homes. If by chance they do have a savings account the percentage is way below what gold has peformed in relation to inflation. Real Money is not defeated just unrealised. Who would have thought GATA would have gone this far recieving recognition from Russia and now from a major European Bank.
The term "Blow Up" to me is not as much as Gold going to extreme price valuation but more to what Joe Sixpack is going to face when fiat is in its Death Throves.
Goldbugs will continue to get their bumps and bruses. As I have said before, This arena is not for the Faint of Heart. I am a Purist, for I enjoy the Brilliance of the Canadian Gold Maple Leaf. Thank you Canada! I am a Realist, for I tend meticulously to my Firearms. A Spoilist, for that is what I aim to do to protect my investment.
***********************************************************
On other points.
Congrats to the poster who turned silver into Gold. I think it was a little early. Yet taking a profit and turning into a better investment, WAY TO GO!
Belgian. There is something to be said when a valuable poster leaves this forum in an abrupt notice. Could this astute gentlemen packed up and ventured forth to some South Pacific Island atoll? Following Another and Friend of Another to resurface at a future time. Intriguing.
Sentimental. Slingshot was placed in Good Company with Smeagol. 25 cent gas and a five cent candybar ;0).
To all the Newbies who Lurk at this Fine Forum. Go ahead and post. Yes, there are times that the exchange is complex but if you have a question, I'm sure it will be answered.
***********************************************************
Good to see friends are hanging around the Forum.
Slingshot--------<>
Ten Bears
(2/3/06; 15:43:43MT - usagold.com msg#: 141289)
Checking in...
Thanks MK, TC, and staff for providing a place for an honest exchange of ideas and information references. Concepts discussed here for several years are now showing up in main stream publications and internet sites. Just as the cutting edge in communications technology has allowed people to exchange un-filtered ideas, the cutting edge monetary theories (often rediscovered from the past) shared here are, I believe, opening many previously closed eyes.
Here's hoping we all continue to prosper from the knowledge of your generous posters.
AllanC
(2/3/06; 15:30:59MT - usagold.com msg#: 141288)
Checking in
What a novel idea. A check in day.
I still lurk here after many years but infrequently post. Oh yes I'm an avowed liberal and I occasionally want to lash out at a few repubs who regularly post here with their slanted pro-Bush bias, but I refrain from doing it. I simply say to myself, at least we all agree on gold and that's what we should focus on. And thanks to MK for not allowing this site to lose it's focus. This site has been an educational experience and I am much better off intellectually and financially because of it.
I do miss the regulars though. We go back a long way, Another, FOA, Aragorn, Aristotle, Oro and now Belgian?!!...where have you all gone? Thanks to their insights I've kept my focus on the big issues that the mainstream financial media seldom talk about.
All my best wishes to all the regulars and lurkers who visit these halls. I will remain here, not too close but seldom too far.
USAGOLD Daily Market Report
(2/3/06; 15:11:36MT - usagold.com msg#: 141287)
Page Update!
http://www.usagold.com/DailyQuotes.html
The Daily Gold Market Report has been
updated.
If you are considering investments in gold we invite you to
request our free
introductory information packet detailing the products and services offered
by USAGOLD ~ Centennial Precious Metals. We welcome your inquiry and look
forward to working with you.
FRIDAY Market Excerpts
Gold softens on day, up 1.4% for week
February 3 (from Reuters) -- COMEX April gold futures fell $5.20 to settle at $571.60 after trading between $578 and a two-day low of $569. Gold retreated from its latest multiyear high of $579.50, hit on Thursday, as the dollar rose and as oil slipped back, which limited gold's appeal as an alternative investment.
The dollar rallied broadly on upwardly revised U.S. payroll numbers and a fall in the unemployment rate, which reinforced expectations for higher U.S. interest rates, traders said.
U.S. nonfarm payrolls rose 193,000 in January, below economists' forecasts for a rise of 240,000. But the government lifted its December number to 140,000, from 108,000 and its November figure to 354,000 from 305,000. The jobless rate fell to 4.7 percent, a 4-1/2-year low, compared with forecasts for 4.9 percent.
"A little dollar firmness really dropped it down, although these numbers are, in my view, somewhat inflationary, given tight employment," said a head dealer at a precious metals desk in New York.
"We suspect COMEX-trading speculators have continued to take profits on long gold positions in spite of ever-higher rallies by gold," investment bank UBS said in a daily note.
Temporary technical weakness notwithstanding, analysts said gold still looked to be targeting the $600 level soon, buoyed by instability in the Middle East, tension over Iran, high oil prices and uncertainty about the U.S. dollar.
---(see url for full news, 24-hr newswire)---
Flatliner
(2/3/06; 14:59:01MT - usagold.com msg#: 141286)
Just watching
http://www.nymex.com/media/delivery.pdf
NYMEx Issues for February.
Silver 122 or 610,000 oz up from 570,000 oz.
Gold 5,362 or 536,200, up from 535,500 oz.
Total Eligible in golden warehouse is shown at 2,212,684. Total registered 5,105,694.
Tevye
(2/3/06; 14:52:21MT - usagold.com msg#: 141285)
(No Subject)
Well said White Rose!
Thx
Gold: Its Tradition!
Tevye
White Rose
(2/3/06; 14:36:35MT - usagold.com msg#: 141284)
Why blame Blanchards? Praise them!
Since gold is at 25 year highs right now, everyone who has bought gold from a reputable dealer (such as our hosts) is ahead if they choose to measure their life in fiat dollars.
I state that with mathematical certainty. There is no need to demand $2,000 price or $30,000 price as if this amount is owed.
The charm of gold in this era is that it is an intensely political substance. It is much more political than oil, and we can see all the wars fought over oil (and I count WW2 as a war fought over oil).
Who has been harmed by low gold prices? The peoples of Africa and other gold mining regions of the world. The mining companies. All those who want/need/desire sound money. Some here have also been harmed by low gold prices. Why have we not sued? Perhaps it is because the costs of a law suit are huge. Remember how I said gold was political? Well, law suits are often quite political. It is entirely possible that even the best legal challenge to the gold cartel would have been foiled.
Right now, we are witnessing the beginnings of a short squeeze on physical gold. Dare I say it, it is much more fun to watch the gold cartel squirm in the marketplace than watch a trial.
Of all groups hurt by the gold cartel, Blanchard went to battle against the gold cartel. They hung in there for a long time. JP Morgan argued that they were an agent for a collection of central banks! Amazing! These admissions are helping to fuel the gold cartel's agony. Praise Blanchard for their bravery! Do not slander them for their inability to offer you instant riches!
It is political and it is financial. I suspect that if all the knights and ladies at our web-based round table were to check, their net worth in dollars is up from September, 2005.
I predict that politics, weather, and finances will be very stormy in 2006. Batten down the hatches. Count your dollars, Yen, and Euros. Figure out how much more gold you can still buy before the storm washes over the land.
Cavan Man
(2/3/06; 14:30:08MT - usagold.com msg#: 141283)
Towncrier
After reading the French Bank's white paper on the state of affairs in the gold market, facts I have understaood for quite awhile, I wonder why the author would recommend any gold shares other than it is their business and commercial intent to sell equities. Further, I have often wondered why the GATA (GOOD) guys, knowing the potential of a major, "blowup" don't exclusively focus on physical. Physical has been my best buy hands down. Like Uncle Harry, gold stocks I beleive are for the trading. 'Tis a puzzlement. In the market soon....CM
Flatliner
(2/3/06; 14:19:33MT - usagold.com msg#: 141282)
@Defeated, I am
Most emotional Hossier Goldbug, surely, time will bring what you want with regards to the price of gold. I'm sure many here look forward to that day and wonder how it will change their lives. Hopefully for the better.
At the same time, I encourage you to not be defeated or even feel defeated. But, rather, educate myself, and those forum members that might read, as to your position. Over the months, I have been most intrigued with your postings, but find them more emotional then logical. Surely, you have or know something, or have inside information regarding something, that it appears that you want to share. Will you please share?
Some have given up the hope, but I continue to take the stand that the truth can stand on it's own if given the chance. Empower others to help the truth stand.
Maverick1
(2/3/06; 14:18:35MT - usagold.com msg#: 141281)
test
test
HOOSIER GOLDBUG
(2/3/06; 14:00:22MT - usagold.com msg#: 141280)
DEFEATED, I AM!
If Donald Doyle and Blanchard would have won, settled for the $2 billion they sought to prove was gained illegally by the GOLD CARTEL for GOLDBUGS in the U.S., 138.89 Tons of Gold could have been taken off the PHYSICAL MARKET!!!!! I am sure our gracious host would have liked some of that action! After a settlement for a promise for a 10 year reprieve in shorting Gold, which was/will be broken, I really believe there is NO way GOLDBUGS will win this fight for real money. When the levels get to prohibitive, the rules of the game will change.
TownCrier
(2/3/06; 13:47:39MT - usagold.com msg#: 141279)
Hoosier, the good news is...
we're heading there. And hopefully without any "blowups".
R.
makcumka
(2/3/06; 13:31:00MT - usagold.com msg#: 141278)
Checking In
Been coming here since 2002, almost every day, and have enough courage to post twice a year or so. Really appreciate everyone's input and education, especially things that I don't understand - stimulates the mind.
Special thanks to MK and CPM, for allowing this forum to exist. Haven't seen MarkeTalk post much lately, guess he is pretty busy, which is a good thing.
Buongiorno!
(2/3/06; 13:10:27MT - usagold.com msg#: 141277)
checking in
Thanks to our host, who bends over backward to be fair to us. We can learn something from everyone who posts here, so a big "thank-you-very-much" to those who visit and "throw a log on the fire"--providing warmth and illumination for the rest!
Salute'
Buongiorno!
goldenpeace
(2/3/06; 13:10:20MT - usagold.com msg#: 141276)
Checking in...a day late, but not a $ short
Bowing
walking ANOTHER'S Golden road
in silence and gratitude,
smiling,at peace....
Blessings
This Discussion Board is my browser home page.
Bowing
goldenpeace
HOOSIER GOLDBUG
(2/3/06; 12:46:20MT - usagold.com msg#: 141275)
WHAT I WANT!!!!! AGAIN!!
WHAT I WANT! AGAIN!
Gold Price adjusted to 1970 dollars would be $2,000.00+
Gold Price adjusted to the amount of US dollars in circulation would be $30,000+
When we get to either of these levels, then I will think a one month 125 increase is worth noting or picking my interest!
TownCrier
(2/3/06; 12:30:28MT - usagold.com msg#: 141274)
Hoosier Goldbug (msg#: 141262), your defeatist attitude is a real marvel
"This idea of the blowup of the GOLD CARTEL and FREEGOLD is only theoretical and a pipedream in the minds of honest money principled people! In reality it will NEVER happen! ... The threshold price for total blowup keeps changing all the time! First, $340, then $360, then $420, then $450, then $500, then $540, then $560."
First of all, I don't think any of the few "freegolders" ever hung their hat firmly on the sort of "blowup" that you're referring to. Instead, it has always been viewed as something ultimately driven by an official need for a rational revaluation -- which was indeed awesomely high relative to current derivative-based valuations.
Secondly, to the extent that any of the serious and sober "freegolders" may have suggested some sort of calamity or precipitous event as a catalyst for the revaluation, they certainly weren't so pedantically bombastic (as we've seen from other quarters of the internet) as to suggest that there was a specific price level at which a "blowup" would occur. That sort of "analysis" is the domain of those primitive newsletter writers and internet columnists with a penchant for mindless sensationalism.
Why do you, personally, require a "blowup"? What is it about gold's 125 percent pricerise in less than five years has you ranting like this and seemingly less than satisfied with the trend that's underway?
R.
18K
(2/3/06; 12:13:33MT - usagold.com msg#: 141273)
Checking in
Gave myself the above moniker because I wasn't entirely a gold-bug when I first started lurking back in '01. Since then, I've learned more than I can say from the many members of the table round...
1340cc
(2/3/06; 12:12:01MT - usagold.com msg#: 141272)
Checking in
Still a very important site for me to gain knowledge about metals and the way the world works.
glockmaster19
(2/3/06; 12:06:05MT - usagold.com msg#: 141271)
Check-in Day
Love this web site. Awsome commentaaries and links here. I read it daily (since 1999).
White Rose
(2/3/06; 11:50:47MT - usagold.com msg#: 141270)
Checking in
http://www.gata.org/CheuvreuxGoldReport.pdf
I drop by many, many times a day. This is one of my favorite sites. At this point, my family has a lot invested in precious metal stocks and actual metal.
As other have, I urge all to carefully read the document from that French bank that I find so amazing. Just pass this link around to all your friends. When they are ready to buy, suggest they do so here where frank talk about the reality of money is allowed to flourish.
tejbear
(2/3/06; 11:39:39MT - usagold.com msg#: 141269)
World Trade Unit
Question? For all of the wide ranging reasons for the devaluation by the dollar, I have not seen this forum address the dollar as a declining world trade unit, as described by Murray N. Rothbard in his book titled "WHAT HAS GOVERNMENT DONE TO OUR MONEY". It appears to me that Rothbard has hit the nail on the head. The US has exported our blue collar jobs and is now increasing the amount of debt every day. I would appreciate some comments. Thanks.
omegaman
(2/3/06; 11:34:07MT - usagold.com msg#: 141268)
***Check-In Day***
Hello to everyone on the forum from a long time lurker and infrequent poster.
I first found the USAGold sight in the fall of '99 when gold went ballistic. It was early in my futures trading education and I learned more than I ever thought I would just by reading the posts and paying attention. I even had a chance back then, to talk directly with out proprietor, MK, one-on-one on the phone. That was before I made my first purchase from Centennial. Since then, I've made several more. And am extremely happy with the service.
The ride up hasn't always been easy, and at times it seemed like the lid would never come off the Gold price. But now that the journey is in full swing, I'll be sure to keep tuned what's happening at this most gracious Table-Round. I expect there to be fireworks in the not too distant future but, as is usually my fate, I'm more often early than late. Which you could say, or I think someone else said before, who's name I can't recall, "Tis better to be a year early, than a day late."
Enough said from this Grumpy-last one. "Thanks for the info" to one and all
Galearis
(2/3/06; 11:27:28MT - usagold.com msg#: 141267)
Checking in late
Couldn't be helped! I have just discovered how leased silver (and gold) is both double counted and infers that COMEX warehouse figures may not be too accurate. As most of this has to do with silver,,,,
Best regards,
G.
Mr Gresham
(2/3/06; 11:26:50MT - usagold.com msg#: 141266)
So THAT explains the ringing
in my ears!
August '99 was when I decided the main y2k effect was likely to be risk to the fractional reserve banking dominoes, and a poster on Ed Yourdon's y2k TimeBomb2000 site sent me over here. (Boy, did we have fun there! And it carried right over to here in other ways.)
Only -- this place was like a graduate school in REAL monetary understanding. And it took four years before I felt my intense learning curve leveling off, to where I could let up reading every day. (Someday I'll try to make up that lost time with my daughter, by passing on to her the wisdom gained here.)
Through all the stresses of these past years, and financial reversals, the companionship and mutual sharing of information and analysis here has given me the financial foundation I needed. Thank you!
The potential of the Internet has been fulfilled here through the generous spirits of the owner, staff (yes, YOU Randy) and posters. May your well-deserved prosperity be enjoyed in safety and harmony!
Rustee
(2/3/06; 11:25:53MT - usagold.com msg#: 141265)
Checking in - Northern CA
Don't post much but enjoy reading this board daily. In the late 70's I invsested in SA gold stocks and rode them from $2.00 to $20.00 and then back down to $2.00. In this run I have about 250% gain in my gold stocks. What does the board think of this run. When do you sell? I also have physical which is buy and hold for sure.
Rustee
Flatliner
(2/3/06; 11:15:39MT - usagold.com msg#: 141264)
@ MORE OF THE TRUTH!!!
It would be most interesting to see a post from one of these former forum members to see if they agree with you. But, I do remember Belgian always saying that revaluation would occur slow and steady. It's as if he knew that the action was deliberate or controlled.
As to a blowup, big players have always been too big to fail. The Banking system would never let anyone big fail. And, having learned that the futures markets are paper markets where settlement is taken in paper, it would be really easy for the banks to repair any damage that would occur there.
What I see happening is more demand. We all see that. World wide, more people are running towards Gold. At the same time, it appears that banks are creating more ‘products’ to absorb the extra money that flows into the demand. Basically, the system is setup so as to make it really easy for investors to convert into a gold derivative rather then an oil derivative. What that means, I'm still out in left field about. But I do know that more liquidity in gold resources does not mean more faith in the products.
Part of what Another talked about was the loss in confidence in paper gold. It seems that we have yet to come across this. It may take time. In the mean time, one might want to consider buying the actual metal rather then a derivative. The issue really comes down too, do you want to be in control, or are you willing to let someone else control it. Your choice.
Oh, Hoosier Goldbug, I do love the level of emotion that you display in your postings. It has painted a very radical image of you in my mind. Good tidings.
Flatliner
(2/3/06; 11:02:06MT - usagold.com msg#: 141263)
First commodity ETF
http://www.marketwatch.com/news/story.asp?guid=%7BB30EA48C-22DE-4900-9306-1D030472F0C4%7D&siteid=google
snip:
Deutsche Bank launches first commodity ETF
By John Spence, MarketWatch
Last Update: 11:01 AM ET Feb. 3, 2006
BOSTON (MarketWatch) -- Deutsche Bank has introduced the first commodities index fund listed on a U.S. exchange in a move that could signal a major shift for the burgeoning exchange-traded fund business.
The Deutsche Bank Commodity Index Tracking Fund (DBC: , , ) , which began trading Friday on the American Stock Exchange, was up 20 cents to $24.30 in early trading.
The fund isn't technically a true ETF because it's structured as a commodity pool rather than a registered investment company, although it resembles an ETF in many ways.
Friday's launch has been highly anticipated by industry watchers because it marks the first time an ETF-like product will use derivatives in its portfolio to provide exposure to commodities.
…
There are gold ETFs and a silver ETF is in the works, but the bullion is held in a vault and investors trade shares representing fractions of an ounce of precious metal. Most other ETFs, which are listed on exchanges and trade like individual securities, track stock and bond indexes.
The new commodity ETF is designed to follow the performance of the Deutsche Bank Liquid Commodity Index - Excess Return, which is based on futures contracts on crude oil, heating oil, gold, aluminum, corn and wheat. The two energy futures will be rolled monthly, and the others annually. Other less-liquid commodities such as coffee, sugar and livestock aren't included in the index.
- Flatliner
This is interesting to me. It seems to me that people believe that ETF's are backed by real assets. People are told that gold is held in a vault upon which they have claim to a small amount. Now, we have something that comes along and calls itself an ETF. But, in this case, they hold futures ‘in the vault.’ This to me speaks loads towards liquidity. Why are they calling this an ETF rather then an ET Derivative?
Maybe it is my lack of understanding ETFs, but don't those that buy Gold for ‘the vault’ pick it up in the futures markets? And, those that manage Gold ETFs, don't they only have to provide gold to their big customers – if they demand it (which they don't)?
In a way, I wish Belgian were around because I know he'd jump right in and help me understand. But, he appears to have found someplace else to learn and teach. I will graciously appreciate anyone's time with regards to learning more about this. Thanks.
HOOSIER GOLDBUG
(2/3/06; 10:54:50MT - usagold.com msg#: 141262)
MORE OF THE TRUTH!!!
This idea of the blowup of the GOLD CARTEL and FREEGOLD is only theoretical and a pipedream in the minds of honest money principled people! In reality it will NEVER happen! The rules will change to accomodate the CARTEL at the expense of the physical gold holders, miners, mining companies, etc. WHERE is BARRICK and the Japanese firms able to get the money to hold their massive hedge positions and add to them? The exchanges' rules relating to trading conduct are waived for the GOLD CARTEL. The threshold price for total blowup keeps changing all the time! First, $340, then $360, then $420, then $450, then $500, then $540, then $560. Out of the blue, with a scheme no one has ever thought of, they will dodge the proverbial bullet that causes their demise or loss of control. I wonder if that is why BELGIUM, ANOTHER, and FRIEND OF ANOTHER have quit posting on all the GOLD forums. I wonder if that is why ALAN GREENSPAN has abandoned all his views of the integrity of GOLD. They already see the writing on the wall.
TownCrier
(2/3/06; 10:11:32MT - usagold.com msg#: 141261)
"Papergold" pricing mechanisms vs. flow of actual metal
http://www.mineweb.net/columns/african_renaissance/880056.htm
HEADLINE: No metal exchange for Johannesburg
03-FEB-06; JOHANNESBURG (Mineweb.com) -- Research commissioned by South Africa's Department of Trade and Industry has given the thumbs down for a Johannesburg commodity exchange...
"The fact that South Africa is a primary producer of metals does not give it any advantage for marketing it goods through a local Exchange," Lentin told Mineweb in an e-mailed statement.
Competing with the world's larger exchanges would be difficult according to the research.
"Potential new exchanges must either offer product differentiation of some sort or compete head-on with the established exchanges offering the same standard product," said Virtual Metals, "Neither of these options augur well for the challenging newcomer."
Virtual Metals also points to the fact that being a large producer of commodities is not a huge strength in building a commodity exchange.
"The reason for this is that a small percentage of futures contracts come to physical delivery (less than 1% in the case of gold and pgms and 20% or less in the case of base metals) and thus access to this metal, by virtue of proximity to the mines, is not of huge importance," says the report.
^-----(from url)-----^
Think long and hard on that one, and then joyously take ownership of the superior benefits of actual metal while merely paying the presiding price established by its inferior paper derivatives.
The first rule of bargain hunting is to always snap up true wealth while it's being made available at a counterfeit's price!
Call USAGOLD-Centennial for real gold coins and bullion delivered to your door.
TOLL FREE 1-800-869-5115
R.
Cometose
(2/3/06; 09:53:27MT - usagold.com msg#: 141260)
Ovs
IT'S COMETOSE!!
OvS
(2/3/06; 09:47:58MT - usagold.com msg#: 141259)
Comatose, go back to your natural state: comatose.
I had a good laugh.
But don't you know
you are off colour?
@$#*(^&^>?":<,+=!!!
tejbear
(2/3/06; 09:47:57MT - usagold.com msg#: 141258)
Checking in
I have been reading this forum for over a year. It is very informative. I "bought in" at $425. Thanks
Cavan Man
(2/3/06; 09:29:56MT - usagold.com msg#: 141256)
US Leaders must have "checked out (to lunch)"
WHEN WILL THE PEOPLE SPEAK WITH ONE VOICE?
US counts war cost: $585bn
From: From correspondents in Washington
February 04, 2006
PRESIDENT George W. Bush is about to ask Congress for another $160 billion ($US120 billion) for the wars in Iraq and Afghanistan, bringing their total cost so far to $585 billion.
That is enough to fully fund global anti-hunger efforts for more than 13 years and provide every child in the world with basic immunisation for more than a century.
Most of the money is for Iraq, where expenses are about $6 billion a month, according to administration officials. The US campaign in Afghanistan is costing about $1 billion a month.
White House budget office deputy director Joel Kaplan said yesterday that Mr Bush would seek a quick infusion of $93 billion, plus another $66 billion as part of the proposed fiscal 2007 federal budget that will go to Congress on Monday.
"War is an expensive proposition. Whether you're for the war or against the war, that's a fact," said Robert Bixby, the executive director of the Concord Coalition, a bipartisan organisation that advocates balanced federal budgets.
The latest figures, provided by officials from the Pentagon and the White House budget office, are a far cry from the Administration's pre-war estimates.
White House economic adviser Larry Lindsey was pushed out of his job when he suggested in September 2002 that the Iraq war could cost as much as $265billion.
Defence Secretary Donald Rumsfeld put the figure at about $66 billion, but told Congress that no one could be sure.
"It's not knowable what a war or conflict like that is going to cost. You don't know if it's going to last two days or two weeks or two months. It's certainly not going to last two years, but it's going to cost money," Mr Rumsfeld said six months before the invasion in March 2003.
In that same period, Mr Rumsfeld's then-deputy, Paul Wolfowitz, contended that post-war Iraqi oil sales would pay for the war.
7nomads
(2/3/06; 09:10:02MT - usagold.com msg#: 141255)
Check-In Day
Lurker since 99. Simply the best site on the web.
OvS
(2/3/06; 08:51:27MT - usagold.com msg#: 141254)
I Clink! to that!
On the spot.
Da capo.
Bravo.
USAGOLD - Centennial Precious Metals, Inc.
(2/3/06; 08:49:37MT - usagold.com msg#: 141253)
Reap a golden harvest!
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Golden Owl
(2/3/06; 08:47:39MT - usagold.com msg#: 141252)
Checking In
It's been over six years since I first surfaced on this forum. You sent me a Silver Eagle for posting on the Four Horsemen years ago. The insight and wisdom contained within this forum's postings are indeed precious and invaluable. The metals compliment our farm lands, related agriculture commodities and inputs, and for the past two years our biodiesel fuel production. I highly regard your regular posters and regularly recommend this site to others. Many blessings to all in the times ahead..........golden owl
USAGOLD / Centennial Precious Metals, Inc.
(2/3/06; 08:47:25MT - usagold.com msg#: 141251)
GOLD -- solid savings that never loses its shine!
http://www.usagold.com/ProductsPage.html
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