ARCHIVED DISCUSSION FROM 3/4/2003 Q. What makes USAGOLD / Centennial Precious Metals different from its competitors in terms of its interaction with clients? MK. Our business philosophy allows us to take a more laid-back approach. We don't employ a room full of brokers spinning the phones day and night. We don't have multi-million dollar advertising expenses dictating what kind of advice we give clients. This is all by choice. I decided long ago that I didn't want the headaches that go with managing a large number of brokers and the support staff and facilities required. At the same time, we get hundreds of requests each month for introductory information packets. We do not make cold calls. We do not work mailing lists. We do not call people at all hours of the day or night. We do not use marketing and sales gimmicks -- leaders, bait and switch, and the rest of it. We primarily work with clients who have discovered us, like what they see, and want to form a long term relationship with a reputable and reliable gold firm. Q. Does the "laid-back approach" limit your business? MK. Yes and no. In the short run, "yes." In the long run, "no." We probably lose a few prospects to the aggressive companies which use hard-sell tactics but we will not be changing our client-friendly approach. We know that not every prospective investor is going to become a client of USAGOLD / Centennial. However, we know that the client who chooses us is likely to be the type of client we are accustomed to doing business with. We work with a large number of professional people and business owners -- active, retired and semi-retired. In fact, we work with clientele that span the economic spectrum and all walks of life. Getting back to how our approach sets us apart from our competitors, we get quite a few disgruntled high net worth clients who come to us after being run through the mill by some of the boiler-room operations I've referred to earlier. They are usually grateful that they found us. Q. Any comments about your own internet presence? MK. First and foremost, USAGOLD / Centennial has always been a brick-and-mortar brokerage headquartered in secure and professional office space here in Denver, Colorado. In function our own website is just a readily-available extension of our advertising and marketing programs. The USAGOLD website further gives us the opportunity to easily provide our clientele with timely market information and commentary.
All times are U.S. Mountain Time
(Yesterday's Discussion.)
ski
(3/4/03; 23:54:38MT - usagold.com msg#: 98934)
Brain Teaser Answer ......
Best index/commodity return in 2002 per Jim Dines?
124% Dines silver stock average
40% Dines gold stock average
24% Gold bullion
22% Planinum bullion
5% Silver bullion
-3% American stock exchange
-12% Dow transports
-17% Dow industrials
-23% Mutual funds (domestic equity)
-23% S&P 500
-26% NASDAQ
-27% Dow utilities
-43% IW internet index
-47% Palladium bullion
While I'm at it ... best returns in 2001
64% Dines silver stock average
11% Dines gold stock average
1.4% Gold bullion
-0.13% Silver bullion
-5.6% American stock exchange
.............................
I do not know what stocks Dines includes in his silver and gold stock indexes. In the case of silver, I suspect the group collectively known as the silver seven. In the case of gold, I suspect a large basket of gold miners including hedgeres and South African shares.
I do not take the Dines Letter but I have been a long time advocate here of .... leaning heavily on the investment recommendations of the old proven market professionals rather than formulating your own investment strategy. I listen very closely to: The Aden Sisters, Jim Dines, Richard Russell, Bob Chapman, Jim Puplava, Doug Casey and a few others. Last year at the San Francisco Gold Show, one of the pro's said, "The amateurs know the rules (of investing) but the pro's know the exceptions."
Everyone here, keep up the good work!
Mr Gresham
(3/4/03; 23:19:25MT - usagold.com msg#: 98933)
Treasure is where you find it, or, maybe I should change my handle
http://bogart-tribute.net/sounds.shtml
to Fred C. Dobbs?
The power of gold to drive men mad, even, or especially, after they've found it? Having conquered the lifeless soil, they have nowhere left to turn, but on each other?
Well, I always remember Bogey, growing more and more paranoid of his partners. "Oh, so that's it!"
So I found you these clips. All the short Bogeyisms, and Treasure of the Sierra Madre is all the way at the bottom of the page.
Talk about treasure! Never knew this one was the source of the "we don't need no steenking badges" line. LOL!
Also contains "Everything's clear now", "What a dirty, filthy mind you've got", and "Let's call it quits."
Go easy on each other, we're gonna be around a long long time. Or not. Gold doesn't care. It's like those stars twinkling cold up there...so beautiful, so impartial.
Ag Mountain
(3/4/03; 22:48:33MT - usagold.com msg#: 98932)
Dollar Bill, about credit
So there's these couple guys in the middle of the crowded theater and they're saying things like "fire" and putting up smoke. So these guys haven't thought enough of the exits, like are there any or or where they are.
I see your beef, but I think the talking and smokepuff is too small for any trouble to come of it because the crowd doesn't notice them at all. Not that it makes reckless behavior any more excusable though.
Let them have their fun. The way I see it more good could come of it than bad, even if these guys don't know anything about evacuating a room.
When they make their fuss all the time a good building superintendent who does know about evacuation might speed up his exit renovations because he's vigilant about this kind of mischief even if the crowd looks like they'll never pay attention to those rascals.
Then one day when an evacuation is needed it will go smoothly. Two guys might congratulate each other saying they saved everyone, even if they finally started a fire in order to get the people to leave. Ha! I don't care about all that as long as the superintendent did his thankless job and has the doors working. Live to tell about it, that's my motto.
I guess that's a long way of saying how we can be made better off by someone pointing out a system problem or vulnerability even if its vulnerability is by their own meddling hands. (They say it's hard to make anything foolproof because fools are so ingenious!) The good service is done by calling attention to the vulnerability to avoid a catastrophe even if they don't know exactly what it is or how to fix it. It's great when a child passenger can point out road hazard. Who cares if he's too young to drive and not behind the wheel? Everyone should try to contribute something that helps because nobody can do it all, all the time.
Toolie
(3/4/03; 22:35:10MT - usagold.com msg#: 98931)
Lawrence Welk music needed
http://www.upi.com/view.cfm?StoryID=20030304-061047-7716r
Snip;
Putting the three elements together, Greenspan said the Fed calculates that "the amount of previously built-up equity extracted from owner-occupied homes last year, net of fees and taxes, totaled $700 billion ... or more than 10 percent of estimated equity at the beginning of the year."
This sum is enormous, as large as Bush's 10-year stimulus plan -- and all of it entering the economy in one year.
All this should raise a question in our mind as to what will happen to domestic demand in the United States when house prices cease to go up and up. Greenspan gives the danger a brief mention, in a typically Greenspanesque, non-ringing phrase. A slowdown in the housing boom will have the effect of "possibly notably lessening support to household purchases of goods and services."
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Second Snip;
The excess capacity built up when the U.S. stock market was booming and the drag from it now that the market has burst explain why the US economy is frail today. The house price boom has helped to offset that frailty. But because it, too, is something false, another episode of wealth generated by inflation, its medium-term impact will be negative.
There is a symmetry to booms and busts. As house prices have spiraled up Americans have sold assets for much more than they paid for them. As house prices come down, Americans will find the opposite.
The house price boom is troubling. As house prices fall in nominal or real terms for some years, another strongly negative influence will weigh on the U.S. economy. An excess of cheap money medicine from Greenspan in the past two years makes the economy more vulnerable to a prolonged slump. America's imbalances are getting worse, not better.
And as more Americans own homes than stocks, the house price boom could do more harm than the boom and bust of the stock market.
Greenspan has let a second bout of asset price inflation build on his watch. Don't expect him to be the first to recognize it.
$$$$$$$$$$$$$$$$$$$$$$$$
Toolie; I am reminded of a story a friend tells. A relative of his, back during a '30's bank run, owned a home that had $80 remaining on the mortgage. When the bank called in the loan, he thought no problem. He had $100 on deposit in the same bank. He told the bank just take the money out of his savings account. The problem was all deposits were de-valued by 75%. His $100 was now worth $25. He lost the house!
As the "BONE PILE" grows alot of this housing debt will default. Many middle class folks are bound to become homeless and penniless. What a shame!
mikal
(3/4/03; 22:27:58MT - usagold.com msg#: 98930)
Fed medicine for worsening economy lowers rates AND dollar returns
http://www.abcnews.com
Fed's Parry: More Room To Ease Again
By Victoria Thieberger March 4, 2003
PALO ALTO, Calif (Reuters) -Excerpts:
"A Federal Reserve official said on Tuesday low inflation gives the central bank leeway to ease monetary policy again if necessary, even if the economy faces risks from a robust recovery down the road.
"If it were called for we still have room to give a boost to the economy, even in the face of some upside risks, because core inflation is low and trending downward," said Robert Parry, President of the Federal Reserve Bank of San Francisco, in a speech to the Stanford Institute for Economic Policy Research in Palo Alto, California.....
Greenspan has also said that if the economy remains weak once the war uncertainty lifts, the central bank would not hesitate to easy monetary policy once again.
Already the Fed's benchmark funds rate stands at 1.25 percent, its lowest level in more than four decades, as it has battled to restore a solid recovery from recession. The Fed last cut rates by half a percentage point in November....."
elevator guy
(3/4/03; 22:21:11MT - usagold.com msg#: 98929)
Dollar Bill
Look what Alan Greenspan knew and understood about fiat currency, way back in 1966. He knew than that a variable currency represented theft, as did Thomas Jefferson.
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966.
Although Alan works for "them" now, you can see that he is not oblivious to the truth.
How 'bout you?
Black Blade
(3/4/03; 22:13:43MT - usagold.com msg#: 98928)
Fuel costs pinch transport firms
http://www.accessatlanta.com/ajc/epaper/editions/today/business_e346f3487379d16e002d.html
Snippit:
Higher fuel prices are creating two classes of transportation companies: Those that can pass along some of the increased cost and those that can't. Big companies like United Parcel Service and Roadway already are sharing the pain with customers. UPS on Monday raised its fuel surcharge to 1.5 percent from 1.25 percent. Freight hauler Roadway has a surcharge that runs 6.5 percent or 8.5 percent, depending on whether a customer can fill part or all of a truck.
Black Blade: Higher energy costs are just starting to work through the "food chain" and the costs will eventually be passed on to consumers in the form of higher prices for goods and services. Last month's high PPI (15%+ annualized) will soon show up in the CPI data. The slow economic growth and higher inflation is looking more and more like the stagflationary 1970's.
ski
(3/4/03; 22:07:37MT - usagold.com msg#: 98927)
Brain Teaser Question .....
I bumped into an interesting piece of data in "The Dines Letter 2003 Annual Forecast Issue". I thought it might be worthwhile to make the answer into a question.
Question: What was the best performing Index/commodity in the US markets in 2002??
(I will post the official answer in an hour or so.)
Black Blade
(3/4/03; 22:01:55MT - usagold.com msg#: 98926)
U.S. Economy: Iraq War May Not Spur Rebound, CEOs Say
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_box.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&box=ad_box_all&tag=financial&middle=ad_frame2_topfin&s=APmTb4xRpVS5TLiBF
Snippit:
Washington, March 4 (Bloomberg) -- To hear Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow tell it, the U.S. recovery is being held back by war jitters and the economy may thrive once the standoff with Iraq is resolved. The unwillingness of companies to invest or hire and the history of the 1990-91 Gulf War suggest they may be wrong. Factory use hasn't rebounded from the almost two-decade low reached in December 2001 and probably won't even after the conflict ends, some executives and economists say. A sounding of 1,200 members of the National Federation of Independent Business found that only 8 percent cited ``the political environment'' as a reason not to expand. Getting the war over quickly may ease anxiety, ``but I don't think it's going to make that big a difference'' for the economy, said Harry Kraemer, chairman and chief executive officer of Baxter International, the world's biggest blood-treatment maker. ``There is overcapacity if you look across most of the basic industries,'' Kraemer said, and job-creation has lagged.
Black Blade: As I pointed out before the problems with the economy are not simply going to magically disappear with a resolution to the Iraq situation. If anything the Iraq war II could even make things worse as the cost will add significantly to the rising US deficit and public debt picture. The difference this time is that we are "already" in a deepening global recession with no light at the end of tunnel.
sector
(3/4/03; 22:00:02MT - usagold.com msg#: 98925)
Motives and the $Bill Person
The goals of central banks as components of government...
...are the same with respect to unbacked paper currency.
Their mission is to convince populations that paper has value greater than its true value. Sinclair is an expert in gold market issues and Bill Murphy has provided a forum to expose the manipulation of gold markets by central banks and their acolytes. Are they sinners?
In order to provide substance to paper currency there are two and only two things a government can do (1) It can produce goods and sell them at a profit or if unable to produce, it can (2) sell its gold to hide the recognizable weaknesses of that currency.
The core of the situation is the inherent competition between paper currency and gold.
The Western central banks have been forced to sell their gold in large tonnages because their respective countries have deteriorating real productivity combined with an artificially rising standard of living.
The banks and hence, governments have been burning their furniture to stay warm. Hedonically speaking they have been making $1,000 computers and counting them as $15,000 worth of GDP because they have "faster processors". There are reams of Bureau of Economic Statistical "Price deflators" all combining to project the lie of American Productivity. Pretty much the same tunes in EuroLand.
If bringing these facts to light as Jim Sinclair and Bill Murphy are doing is wrong to you and makes you unhappy then perhaps the needed golden lessons are on your part.
Black Blade
(3/4/03; 21:46:35MT - usagold.com msg#: 98924)
Buffett warns on investment 'time bomb'
http://news.bbc.co.uk/2/hi/business/2817995.stm
Derivatives are financial weapons of mass destruction
Snippit:
The rapidly growing trade in derivatives poses a "mega-catastrophic risk" for the economy and most shares are still "too expensive", legendary investor Warren Buffett has warned. The world's second-richest man made the comments in his famous and plain-spoken "annual letter to shareholders", excerpts of which have been published by Fortune magazine. The derivatives market has exploded in recent years, with investment banks selling billions of dollars worth of these investments to clients as a way to off-load or manage market risk. But Mr Buffett argues that such highly complex financial instruments are time bombs and "financial weapons of mass destruction" that could harm not only their buyers and sellers, but the whole economic system.
Black Blade: It is "interesting" isn't it? Investment banks are essentially saying "the risks are too great for us to handle, so be a pal and buy our risk". The ultimate "greater fool" theory. Hmmm…
Not long ago Warren Buffett and his partner Charlie Munger referred to derivatives as "toxic waste" and "sewage" adding that it was an insult to sewage.
Simply Me
(3/4/03; 21:44:37MT - usagold.com msg#: 98923)
What are nuclear power plants for?
RE: ElGordo (3/4/03; 18:44:55MT - usagold.com msg#: 98900)
Iran opens nuclear plant for enriched uranium
snippet:
Iran has always firmly denied developing a secret nuclear weapons programme, but the Isfahan plant would be an essential piece in a chain of installations that go towards producing the enriched uranium essential for atomic armaments.
Me: Will someone exlain to me what the heck Iraq and Iran need nuclear power plants for, when they're practically floating in oil?
As the kids say, "Duh!~"
Simply
Black Blade
(3/4/03; 21:33:44MT - usagold.com msg#: 98922)
Small Order Desk
http://www.usagold.com/announcement/SmallOrderDesk.html
Link to small order desk above for those who wish to slowly dollar cost average into a pile of portfolio insurance.
- Black Blade
Gene
(3/4/03; 21:33:39MT - usagold.com msg#: 98921)
Dollar Bill
Central banks do what they do because they are in collusion and are taking their orders from someone at the Fed. Otherwise gold would be at a much much higher price.My goodness, man, wake up!
21mabry
(3/4/03; 21:31:07MT - usagold.com msg#: 98920)
mugshots
How about these photos they take of these ''terrorist''these guys look like ten miles of michigan highway.Thats pretty bad for those of you who have never had the pleasure of driving in michigan.
Black Blade
(3/4/03; 21:30:30MT - usagold.com msg#: 98919)
Market Wrap Up – Puplava
http://www.financialsense.com/Market/wrapup.htm
Snippit:
Profit From The Paper Chase With a Gold or Silver Paperweight
So if you believe in gold and silver fundamentals and want to invest in physical, pay cash and take delivery. This means if you're buying in the futures market that you pay cash and take delivery. This takes supply off the market and makes it harder for the Goliaths to leverage their paper positions when delivery is demanded. Their enormous short positions are predicated on the fact that buyers settle in paper or don't demand delivery. Like fractional reserve banking, their strategy falls apart when there is a run on the banks. The only way the derivative pyramid can work is if you play their paper game. It doesn't work when contracts are settled by physical delivery. So if you are buying physical, take possession.
You don't have to be a major player to buy gold and silver bullion. You can start out small at your local coin shop (or here at Centennial Precious Metals – USAGOLD – Black Blade). You can buy gold coins, junk bags of silver, silver rounds or ten ounce bars of silver. It is probably easier to buy gold coins because of the current cost of gold. You can do so monthly and average your cost or quarterly whenever funds are available. The important point is even small stones will work to slay the giant. Besides, owning gold and silver coins or bars give you the added pleasure of admiring their beauty.
Black Blade: An "interesting" twist on the precious metals market using a religious analogy. As someone here once asked about being able to buy gold or silver but having limited funds. Dollar cost averaging is one way to slowly build a position over time. I suppose that the "Small Order Desk" here is still open. Randy, MK, Castle Guards?
DummyANI
(3/4/03; 21:22:54MT - usagold.com msg#: 98918)
Japanese Government budget is substantially bankruptcy.
Yesterday, at March, 4, 2003, Japanese Government budget for 2003 fiscal year was passed at Congress, it is nearly $693 billion USD, and the tax income is only $385 billion USD, so that the new issued government bond is nearly $308 billion USD, and this is 44.6 percent of the annual expenditure. I believe that Japanese Government budget is substantially bankruptcy.
The total government deficit is $ 5.8 trillion USD, and this is nearly 137 percent of Japanese GDP. At present, Bank of Japan holds Japanese Government Bond nearly $ 709 billion USD equivalent. BOJ is the top Government Bond Holder.
The yield of Japanese Government Bond is 0.76 percent or lower at present, and this is the lowest level in the world history. If the yield of Japanese Government Bond is reversed, BOJ will be the worst loser of 2003 or 2004 in the world. But at the current Forex market, Japanese Yen is evaluated very higher, and BOJ ironically intervenes in order to sell a Yen and buy a dollar.
Buy a gold, sell a Yen.
D-Ani.
mikal
(3/4/03; 21:12:53MT - usagold.com msg#: 98917)
@Dollar Bill
Re: Your latest "beefs": "...make their teaching destructive."
"...total lack of comprehension"
"...self-important"
According to your post, "our sides" two "wild" men warrant the above dirt for no other reason than that they plainly explain the actions of bankers.
Your accusations would be nothing more than the blunt weapon of fear, denial and desperation, if they did not also speak for yourself with such obvious irony.
Thank you and bring a feral friend next time!
Buena Fe
(3/4/03; 21:07:25MT - usagold.com msg#: 98916)
Any chance of a fresh look? Any chance of growth?
Dollar Bill,
sorry but your handle screams your book (bias) so loud that you are hard to hear.
have you read Ed Griffins work (among others), "Creature From Jeckyll Island?
i'd like to believe in your good intentions, but my experience through this currency war epoch strongly suggests i tune you out. not that you'll notice or care (nor should you), i just don't need any distractions as i cross the frail bridge which extends over the "chasm of economic chaos", on a chariot of gold.
chao
Waverider
(3/4/03; 21:03:36MT - usagold.com msg#: 98915)
Spot'n Spike
http://focus.comdirect.co.uk/en/detail/_pages/charts/main.html?sSymbol=GLD.FX1&sRange=3
Okay Sir Gandalf, no yoyo's...how about a trampoline? ;o)
shades
(3/4/03; 21:01:27MT - usagold.com msg#: 98914)
deposit insurance
Every year about this time the subject of the Japanese and their deposits being threatened by the decreasing amounts of protection from the goverment is brought up. I understand that this year it will acheive zero protection. Can anyone enlighten and sorry in advance if this has already been discussed
Waverider
(3/4/03; 20:57:00MT - usagold.com msg#: 98913)
US dollar index
http://quotes.ino.com/chart/?s=NYBOT_DXY0&v=s&w=10&t=l&a=2
And Mikal...it continues to slip slide away into the abyss.
Gandalf the White
(3/4/03; 20:55:52MT - usagold.com msg#: 98912)
Attention Lady Waverider !
Will you please take those YOYO's away from SPOT and SPIKE !
<;-)
mikal
(3/4/03; 20:52:25MT - usagold.com msg#: 98911)
U.S. dollar slumps, then prices in "Snow" premium before resuming "Dollar Bill" stagger
http://www.bloomberg.com
Dollar Pares Loss After U.S. Treasury Clarifies Snow's Comments
By John Brinsley
Tokyo, March 5 (Bloomberg) -Excerpt:
"The dollar pared a loss after a spokesman said Treasury Secretary John Snow hasn't withdrawn his support for the U.S. currency, seeking to clarify remarks Snow made that sent the dollar to a four-year low against its European counterpart.
The dollar traded at $1.0958 against the euro at 9:42 a.m. in Tokyo, from $1.0925 late yesterday in New York. It fell as low as $1.0986, the weakest since March 19, 1999 after Snow said he was ``not particularly concerned´´ about the U.S. currency, which has dropped 20 percent in the past year against the euro. The dollar was also at 117.35 yen, from 117.65 yen, having been as low as 117.13.
``Secretary Snow made the administration´s position on the dollar very clear at his Senate confirmation hearing,´´ Treasury spokesman Tony Fratto said, referring to a statement Snow made more than a month ago favoring a strong dollar...."
Carl H
(3/4/03; 20:42:36MT - usagold.com msg#: 98910)
Re: Zenidea 98813
Zenidea,
I must apologize, I was unable to dechiper your message completely. Would you be good enough to translate?
Yes, what I posted was speculation, but there are certainly enough coincidences to make it fall in the "interesting" category.
Dollar Bill
(3/4/03; 20:29:59MT - usagold.com msg#: 98909)
Chris Powell
Hi Chris Powell, Since you started a fun --Who is wilder--
contest, I vote for this fellow.
Why do central banks do what they do?
Author: Jim Sinclair
The answer: To depress the rising price of gold and to obtain in exchange depreciating dollars. Also, because it is OPM = "other people's money" and for political reasons. It may well be that but more than likely they will for now hold the depreciating dollars in the form of depreciating treasury instruments for political reasons.
I think half my beef with Jim and Bill is that I used to look to them for insight. But, if Jim and Bill want to play
teacher, it is disapointing to say the least to see the complete lack of comprehension of what and why Central Banks do what they do.
AND, having that misunderstanding as thier cornerstone, All actions and thoughts based on that wrong foundation make thier teaching destructive. And, self importance finds a way to take root. Not a desirable outcome.
You know, the issue of WHY really needs to get a review.
For Jim and Bill to come to the ideas of "it is political reasons" and "enemies" is, to be nice, a plateau. Well, time to keep advanceing in understanding and move on up in clearly seeing. Look, I guess it is ok with me if Misetich
wants to continue to see the iraq issue only as "the Iraqi oil rape", what the heck, he is only posting here.
But, Jim and Bill are trying to play teacher and leader and
....well, maybe I should not try asking ME for adjectives to describe what they are doing !
But, since they are doing that, I am asking for someone from your side to try to get those guys to open up to learning more about WHY the central banks do what they do.
What are they trying to do, WHY they dont do what WE think they should do.
Hey, we tried painting them as small minded, villans, stupid, greedy, worse.
Any chance of a fresh look? Any chance of growth?
TownCrier
(3/4/03; 20:29:50MT - usagold.com msg#: 98908)
Waverider
Thanks. I appreciate your enthusiasm, but I am hardly worthy of your high praise.
Cut and paste, cut and paste, format, upload to server...
For your future reference, the permanent link to these haikus can always be found on the Hall index page.
R.
Waverider
(3/4/03; 20:21:40MT - usagold.com msg#: 98907)
Sir TownCrier
Randy, you're BRILLIANT!! What a great idea, and so nicely presented! THANK TOU!!
Mr.Gresham sums it up....
Randy starts something
Amateurs spin out true gold
Hall of Fame beckons.
Pizz
(3/4/03; 20:21:05MT - usagold.com msg#: 98906)
Misetich
The cost of a prolonged Iraq war at around 1.6 trillion dollars.
The key word is DOLLARS, not francs, Euro's, yen, but dollars.
Yes, they will be worth less than they are now, but they will be in use.
Pizz
TownCrier
(3/4/03; 19:59:27MT - usagold.com msg#: 98905)
Wealth for the mind and soul...
http://www.usagold.com/hall/haiku.html
...because we all need a little gold now and zen.
:-)
R.
Sundeck
(3/4/03; 19:08:57MT - usagold.com msg#: 98904)
ANOO #98901 - Great-coats on, great-coats off
Good summary of impending dinner, I'm glad I don't have to do the dishes! (I hope.)
:-)
Sundeck
(3/4/03; 19:04:34MT - usagold.com msg#: 98903)
Chris Powell #98898 et al - Buffett and gold
Chris,
Buffett wilder than Murphy? Ho ho ho (very good laugh), not wishing to heap scorn on Murphy, of course, who I believe has done a remarkable job in publicising gold's "manipulations", (who was it who said "No publicity is bad publicity!" or was it "Any publicity is good publicity!"). Buffett, though candid and frank, is the most measured of men. His new assessment of the markets and derivatives in particular will carry an enormous weight in the investment community, IMO.
Buffett and gold? Someone on this forum about six months ago (??? was it Sir Belgian) posted an interesting analysis of why Buffett chose silver over gold. I would like to re-read that analysis, which I thought was good at the time. But how to locate it easily without a search facility???
Cheers
:-)
Sundeck
Roccoco
(3/4/03; 18:59:37MT - usagold.com msg#: 98902)
GOLD in my EYE
My guess *****377.7*****
I'm hunkering down and surrounding myself with a fort of AU. Just got back from a long trip to London and Tunisia. Very interesting as I'm exchanging my U$ for L's and e's; loosing 5% for not having switched out of U$ before leaving. They prefer U$ over Dinars, but the spread was better for L's and e's... I grinned and beared it, WHAT? I was going to kavitch, with my knowing the overabundance of U$'s floating around.
My travel style is to get in with the 'sheeple', and find out what they think... I'm humbled to know that it's the American leaders that aren't liked... everywhere I went, Americans were basically liked, even with the war-ness going on in their minds.
Happy to be home, a little more enlightened.
roccoco
a nation of one
(3/4/03; 18:47:10MT - usagold.com msg#: 98901)
kind of now but not exactly
Dinner is served. Opps, no it isn't. Sorry. I thought the
meals were ready. Oh here it is. Nope, sorry. Wait. It's
coming. No it's not. Look, the cook is signalling. Your
dinner is just seconds away. On second thought, that was
the janitor. Oh. How about this. You could sit closer to
the kitchen. At that table. No. They're Turks. They said
no. But the Persians might let you.... No, they want to
come sit with you. Well, dinner is served. Almost. Not
right now. But Here it is, practically. But not now. Soon
however. Tonight. In just a few seconds. What? The butcher
won't cut the meat? Fish then. No fish? How about a salad.
Sorry, the gardener quit. The cashier's gone home? You
can't speak to the manager, you are the manager. In fact,
you own the restaurant. No, I just work here. Your meal
will be ready soon. In fact it's ready now. Here it is. No.
Sorry. Gee. Aren't you glad this isn't a war? If someone
was shooting at us we'd be in trouble.
ElGordo
(3/4/03; 18:44:55MT - usagold.com msg#: 98900)
Iran opens nuclear plant for enriched uranium
http://www.portal.telegraph.co.uk/news/main.jhtml?xml=/news/2003/03/05/wiran05.xml&sSheet=/news/2003/03/05/ixworld.html
snippet:
Iran has always firmly denied developing a secret nuclear weapons programme, but the Isfahan plant would be an essential piece in a chain of installations that go towards producing the enriched uranium essential for atomic armaments. The plant would process uranium from nearby mines, and the resulting gas would then be enriched at a plant in the town of Natanz. Uranium must be enriched for use in nuclear reactors to generate electricity. But highly enriched uranium is a key ingredient for weapons.
_______
N Korea and Iran are working fast now to build an atomic bomb.
Chris Powell
(3/4/03; 18:42:10MT - usagold.com msg#: 98899)
Here's what too much hedging gets you
http://groups.yahoo.com/group/gata/message/1451
Newmont's overhedged Yandal mine, acquired
from Normandy, is worth more dead than alive.
To subscribe to GATA's dispatches
by email and get them immediately so
you don't have to go look for them,
send an email to:
gata-subscribe@yahoogroups.com
Chris Powell
(3/4/03; 18:40:05MT - usagold.com msg#: 98898)
Suddenly Warren Buffett sounds wilder than GATA's Bill Murphy
http://groups.yahoo.com/group/gata/message/1450
Warren Buffett's warning about stocks and
derivatives sparks more interest in gold.
To subscribe to GATA's dispatches
by email and get them immediately so
you don't have to go look for them,
send an email to:
gata-subscribe@yahoogroups.com
silvercollector
(3/4/03; 18:30:36MT - usagold.com msg#: 98897)
300,000 US troops in Gulf
http://story.news.yahoo.com/news?tmpl=story2&u=/ap/20030305/ap_on_re_mi_ea/us_iraq_military&e=1&ncid=
CoBra(too)
(3/4/03; 18:14:31MT - usagold.com msg#: 98896)
@ TC - a.k.a. Randy
Young fellow, you'll excuse a little banter from an elderly guy!
Sometimes I do find your remarks vs some posters a bit abrasive. That's not the problem, as the reality is that your stance is a bit shortsighted.
I'm pretty sure that MK has not designed this great forum to advance his biz alone - as biz comes anyway to the fair dealers in a market bein' short of fair and of reality, of course!
I will conclude my last post ... with the best wishes for CPM/USA Gold to further succeed.
... as I sign off cb2
misetich
(3/4/03; 17:52:03MT - usagold.com msg#: 98895)
Dollar falters after Snow shrugs off recent falls
http://www.reuters.com/financeArticle.jhtml?storyID=2326462&newsType=usDollarRpt&menuType=currencies
Snip:
Tue March 4, 2003 07:26 PM ET
0018 GMT -- Dollar faltering across the board in early Asia after U.S. Treasury Secretary John Snow said he was not concerned about its fall in last two weeks. -- Snow's apparent indifference to dollar's weakness shocked bulls who have been betting Washington is keen to maintain strong dollar policy when it appears to start countdown on war in Iraq. -- Dollar plunging to four-year lows against euro and Swiss franc and three-year low versus Australian dollar. -- Euro rises as high as $1.0986, up about a full cent from $1.0885/90 in late U.S. trade. --
********
Misetich
The strong US $ policy in unsustainable as CB's 16,000 tons of gold has vanished in thin air. Thanks Sector
All On Board The Gold Bull Express
Got gold?
White Hills
(3/4/03; 17:48:47MT - usagold.com msg#: 98894)
Kuwait
Just caught a little of the report on Fox,it seems that Kuwait are shutting down some of their oilfields in order to protect them from any action Iraq may make in coming War. This should make oil prices go even higherIt would seem that war is very close. White Hills
misetich
(3/4/03; 17:39:33MT - usagold.com msg#: 98893)
ANALYSIS-The financial cost of a war with Iraq
http://www.reuters.com/financeNewsArticle.jhtml?type=economicNews&storyID=2321876
Snip:
Conservative calculations, which assume a swift campaign that emulates the speed of the 1991 Gulf War, pitch in at around $100 billion, equivalent to one percent of U.S. gross domestic product.
If the war gets bogged down, however, in street-to-street fighting to take Baghdad, costs would rise.
Throw in the nightmare of chemical or biological warfare, rebuilding the country and sticking around for the next 10 years to encourage Middle East stability, and some see an astronomical bill of $1.6 trillion for U.S. taxpayers.
That's just for America. With British forces likely to take part in any U.S.-led attack on Iraq, there would also be a heavy cost for Britain.
These numbers are not coming from the White House. U.S. President George W. Bush, who wants to cut taxes, has remained silent on a subject that could hurt this key goal.
..........
Nor do the numbers include grants for key allies Turkey or Israel which stand to receive $6 billion and $4 billion respectively from Washington. And don't forget Jordan, promised over $1 billion, or Egypt which wants access to U.S. export markets.
All of this is to be financed on top of a U.S. deficit which Bush already projects at a record $304 billion this year and $307 billon in fiscal 2003/2004.
..........
**********
Misetich
US debt to the penny is $6.4 trillions and growing in gargantulan proportion - Service Costs are not included in current year deficits and neither are many off-budget items
$7 trillions at the end of 2003 is not farfetched
How long will foreigners keep on providing credit ad infinitum?
All On Boar The Gold Bull Express
Got gold?
misetich
(3/4/03; 17:30:36MT - usagold.com msg#: 98892)
U.S. chain store sales fell in latest week-report
http://www.reuters.com/financeNewsArticle.jhtml?type=economicNews&storyID=2322882
Snip:
NEW YORK, March 4 (Reuters) - U.S. chain store sales decreased during the fourth week of February because of severe winter weather, a report said on Tuesday.Sales at major U.S. chain stores fell 0.2 percent in the week ended March 1 compared with the same week a year ago, the report said.
Sales declined 2.0 percent in the four weeks ended March 1, compared with the previous month, Instinet Research said in its weekly Redbook report.
*******
Misetich
Auto sales are down, housing inventories are rising, retail sales are down - and the spin is War worries, bad weather -
In the meantime Reality Check says consumers are tapped out as debt payments, job scarcity, vanishing portfolio and retirment values, increased energy costs, and general cost of living - such as housing, food -
Government deficits at all levels, local, state and federal are out of hand as tax revenes dwindle
Bottom Line - consumer disposal income is being eaten up - the refincing "band-aid" is wearing off -
All On Board On The Gold Bull Express
Got gold?
Believer
(3/4/03; 17:29:21MT - usagold.com msg#: 98891)
My Prognostical Specification is:
****388.8****
"Yes I am the one who bought the 30 tonnes of Portugal gold, and I did it because I needed it to build a bomb shelter. First I would lay-up the gold bars and silver- solder the joints. Then I would DuctTape The inside cracks to prevent chemical or biological agents from seeping in. The Gold will shield me from unwanted radiation and the DuctTape adhesive inhibits the biologicals. It slows them down and they get stuck in the adhesive.
When It is safe to come back out, I would sell 1/2 of my bomb shelter and buy the Upper Peninsula in Michigan to run my water farm and packaging plant. We will export 4 oz. cartons of water to the ME @ $100/ container. I would then payoff the US national Debt and organize home building parties for the homeless. (some 175 million in the US)
All This I would have done If I had gotten the whole 30 tonnes, but wouldn't you know, there were only 14 tonnes and a marker from the Federal Reserve.
It seems that this was the leaset that they could do under these circumstances
misetich
(3/4/03; 17:22:55MT - usagold.com msg#: 98890)
U.S. layoff plans grew in Feb. - Challenger report
http://www.reuters.com/financeNewsArticle.jhtml?type=economicNews&storyID=2323762
Snip:
NEW YORK, March 4 (Reuters) - Layoff plans at U.S. firms rose for the second straight month, suggesting that a rebound in the nation's wobbly labor market is unlikely before the end of the year.In a fresh indication that U.S. companies are still firing workers, corporate managers announced 138,177 job cuts in February, up 5 percent from January's 132,222, employment research firm Challenger, Gray & Christmas said in a report.
"It is doubtful a turnaround in hiring can be expected before fall, if then," said John Challenger, the research group's chief executive officer, in a statement.
*********
Misetich
Unemployment numbers are reportedly being fudged by the BLS - no wonder they abandoned reporting mass layoffs.
Markets are poised to thumb down this continued facitous reporting
All On Boar The Gold Bull Express
Got gold?
misetich
(3/4/03; 17:15:06MT - usagold.com msg#: 98889)
US consumer confidence down March 2 week-ABC/Money
http://www.reuters.com/financeNewsArticle.jhtml?type=economicNews&storyID=2326278
Snip:
NEW YORK, March 4 (Reuters) - U.S. consumer confidence edged lower this week after increasing for the past three weeks, a survey published on Tuesday showed, with respondents rating economic weakness as their primary concern.
.........
Only 28 percent of Americans rated the economy in excellent or good shape, down from 30 percent in the previous week. They cited War fears and an anemic job market.
********
Misetich
Worth repeating " They cited War fears and an anemic job market."
The "real economy" is beginning to come to light - All government hedonics and manipulation cannot stop the truth! as the urnavelling of the house of cards
Unemployment is much, much higher rather the 6% being reported. Allegedly millions out of work are not included as unemployed. Jobs are scarce and debt levels on all time high both corporate and personal.
The US $ is being "managed" by superficial means and perception. It is not reflective of the real strength of the US economy and the growing twin deficits.
All On Board The Gold Bull Express
Got gold?
ElGordo
(3/4/03; 17:12:28MT - usagold.com msg#: 98888)
@Sundeck- Snow on the dollar
Tokyo, March 5 (Bloomberg) -- The dollar fell to its lowest level in almost four years against the euro after U.S. Treasury Secretary John Snow said he was ``not particularly concerned'' about the currency, which has dropped 20 percent in the past year against its European counterpart.
The dollar fell to $1.0964 against the euro at 8:06 a.m., from $1.0925 late yesterday in New York, after reaching $1.0969, its weakest level since March 19, 1999. The dollar also fell against the yen, to 117.28 from 117.65.
Speaking to reporters following a hearing before the U.S. House Ways and Means Committee, Snow said, ``the dollar is going to rise and fall.'' The Treasury secretary last month reiterated the U.S.'s support for a strong dollar.
Snow's comments show ``that the U.S. is moving away from a strong dollar policy,'' said Paul McNee, chief currency trader at Australia and New Zealand Banking Corp. in Melbourne. ``This is as concrete an example of that as possible.'' The dollar's fall to $1.10 against the euro ``is a foregone conclusion. It should happen today.''
_________
Go Gold
TownCrier
(3/4/03; 17:12:19MT - usagold.com msg#: 98887)
Euro hits 4-year high vs dollar on Snow comments
http://biz.yahoo.com/rf/030304/markets_forex_dollar_1.html
What comments?
When asked by reporters if he was worried about the dollar's fall over the past 10 days, U.S. SecTreas Snow replied, "I'm not particularly concerned about that. ... The dollar is going to rise and fall some. There's nothing unusual about this, nothing alarming about it." Further, "The dollar is in the marketplace and everything in the marketplace goes up some and falls some. It's within normal ranges. I don't see anything troubling about it."
The article linked above adds the following:
(excerpts)
NEW YORK, March 4 (Reuters) - The euro surged in thin market action to a four-year high against the dollar late on Tuesday after U.S. Treasury Secretary John Snow said he was not concerned with the recent decline in the greenback's value.
"There is always this issue of the administration basically having a position that the markets determine the exchange rate and I think that was probably what was indicated today," said Robert Sinche, global head of foreign exchange strategy at Citibank in New York. "Traders may want to interpret something out of that but I think it would be a mistake to do so. But that is certainly the knee-jerk reaction."
----(see url)----
Take one guess why Robert Sinche of Citibank stood forward to downplay the currency movement. As global head of foreign exchange, do you think he just might a position? An opinion bias? Naaaaw...
R.
darkman
(3/4/03; 17:05:07MT - usagold.com msg#: 98886)
<http://reuters.com/images/greyLine.gif>
http://reuters.com/financeArticle.jhtml?storyID=2326305&newsType=usDollarRpt&menuType=currencies
TOKYO, March 5 (Reuters) - The dollar fell to multi-year lows against the euro and Swiss franc on Wednesday after U.S. Treasury Secretary John Snow said he was unruffled by its recent weakness.
"I'm not particularly concerned about that," Snow said when asked by reporters whether he was worried about the dollar's fall since the meeting of G7 finance ministers on February 21-22.
"The dollar is going to rise and fall some. There's nothing unusual about this, nothing alarming about it," Snow said after a House ways and means committee hearing.
The euro rose to a four-year high of of $1.0967 from $1.0885/90 in late U.S. trade, hitting a key stop-loss point of $1.0950. Some traders said the currency could test $1.10 soon.
The dollar also dropped to another four-year low of around 1.3310 francs from 1.3395/05 and also dropped more than a half yen to 117.30 yen .
"
misetich
(3/4/03; 17:01:06MT - usagold.com msg#: 98885)
US Treasury Snow Job - Lies, Deceit , Misinformation, Disinformation
http://www.iii.co.uk/shares/?type=news&articleid=4593191&action=article
Snow says net cost of dividend tax cut plan to be half 370 bln usd estimated
Snip:
WASHINGTON (AFX) - US Treasury Secretary John Snow said the cost of President George Bush's plan to abolish the double taxation of dividends will only be around half the 370 bln usd originally estimated.
..........
Snow said he will be looking to convince lawmakers this afternoon, when he testifies in front of the House Ways & Means Committee, that the dividend tax plans amount to "good economics".
In any case, Snow stressed again that the budget deficits foreseen over the coming years are "modest and manageable" in terms of GDP. The Treasury is forecasting record nominal budget deficits over the coming two years, even before accounting for the costs of any war in Iraq.
Snow said President Bush's 695 bln usd overall tax cut plan will create 2 mln new jobs by the end of 2004 and add some 2 percentage points to GDP over that time as well.
********
Misetich
Investors worlwide have been "Snowed" for years by unrealistic projections by the US Treasury - from phantom surpluses to "manageable deficits" to outright alleged maninpulation of commodities and currency markets
It is interesting that O'Neil is very critical of Bush's economic team policies as government deficits are getting out of control.
Sooner rather than later the US credit card is going to be canceled by foreigners as the irresponsible fiscal management and policies of the US Treasury and Federal Reserve Bank comes into clear focus
All On Board The Gold Bull Express - Gold is "Real Money"
Got gold?
Sundeck
(3/4/03; 16:47:27MT - usagold.com msg#: 98884)
US Dollar
Wow, the dollar just dropped half a percent...what's up?
Boilermaker
(3/4/03; 16:33:10MT - usagold.com msg#: 98883)
Time to talk Kurds with the Turkeys?
http://story.news.yahoo.com/news?tmpl=story&ncid=586&e=1&cid=586&u=/nm/20030304/wl_nm/iraq_turkey_dc
With Turk's rejection of US troops on their property, knowing Kurds own Northern Iraq, Turks scared of the Kurds, US needs a northern base, there's got to be some leverage for US deployment with a Kurdish alliance. Nah, too radical. Kurds might want $50 billion. Oh well, lets buy some more metal and watch the lemmings run.
I'm hoping the whole show gets shut down and we can go back to the opening of the Greatest Depression without the war thing. Buy some CPM gold for intermission time.
Boilermaker
Bulldog
(3/4/03; 16:18:52MT - usagold.com msg#: 98882)
Natural Gas Prices
I just paid the February bill for my residence and it was
$300.77 for the month. My supplier was just approved for a 25% increase. This in Alberta, our country's biggest exporter of natural gas. What are the rest of North Americans paying during this cold snap? We have had a mild winter until the last two weeks and it is now bitterly cold. I note that the other day, Toronto Ontario had their coldest day ever since 1885.
I think the inflation train just left the station.
misetich
(3/4/03; 16:05:23MT - usagold.com msg#: 98881)
US opposes Iranian forces in Iraq
http://www.timesonline.co.uk/TGD/tgdBreakingNewsDisplay/0,,3,00.html
Snip:
The United States has said it knows that Iranian-backed Iraqi opposition forces had moved into northern Iraq and was opposed to their presence. Advance elements of the Badr Brigade of the opposition Supreme Council for the Islamic Revolution in Iraq have set up an encampment in the Kurdish region. "We're aware of that. ... We're against any Iranian presence in northern Iraq or any group that reflects Iranian presence in northern Iraq," State Department spokesman Richard Boucher told a daily briefing.
********
Misetich
Iraq the pandora box?
US and Britain are counting on a "quick end" to the Iraqui Oil Rape - Is it really going to be that simple? Wouldn't surprise one bit if the US and Britain invade Iraq without UN backing and finding the Russians, Turks, Iranians and others move in to defend their "national interests". As the Iraq Pandora Box unfolds before our eyes we say..
All Onboard The Gold Bull Express
Got gold?
steady
(3/4/03; 15:47:18MT - usagold.com msg#: 98880)
ElGordo re: The Kondratieff winter is here, and it is getting colder.
Did you ever dream of what you could be? the president, a superstar or maybe on t.v., but what ever happend to those dreams? you can paint pictures in your mind for you to bring back anytime. when your castles are in the air
and suddenly there not there
you wonder how u got out here at all,
so welcome to the cold cruel world how do u like the temperature out here? bet u never thought it could be this cold.
gold and silver honest money for honest people!
TownCrier
(3/4/03; 15:38:54MT - usagold.com msg#: 98878)
Boilermaker, thanks for the 2002 vs '03 clarification
I made the mistake of assuming the article was current. A good reminder for me to always check the fine print. My general guidance holds, though, regardless of year.
Imagine a group of stock brokers or futures brokers or derivative/investment bankers sitting around having a slow day at the office. I don't think anyone here would be happy to see a bunch of Wall Street's most desperate (or aggressive) brokers touting their particular brand of wares, with or without contact info. In essence they would be trying to lure your attention and investment dollars away from physical gold and into something that would support their own postions. The problem we face with an anonymous posting board is we don't know who might be a broker trolling for customers and who is simply an interested investor trying to broaden his scope of study and discussion. As a general rule, then, we must settle for a policy as near as we can muster that prohibits the abuses without unduly affecting the majority of participants.
To a large extent we have been able to leave it to our participants to intuitively know where to draw the line in the context of their investment discussions.
Basically, if a person has a desire to post pro-"Wall Street" investments and commentary, we expect that would be done at another forum -- one devoted to that purpose. Otherwise, a post appearing here that directs traffic or attention to typical Wall Street services would be generally viewed with suspicion (a possible wolf in sheep's clothing(?)) and discouraged. Again, since we rely heavily on your voluntary cooperation to limit the potential abuses in a forum like this, I hope this all seems clear; though I am sure it is clearest only to anyone walking a mile in Centennial's moccasins -- anyone trying to run a successful business in a world of cutthroat competition. We simply don't want to make it any easier for the competition on Centennial's dime.
R.
misetich
(3/4/03; 15:32:53MT - usagold.com msg#: 98877)
US Consumer Confidence Declining- Fear In Check?
http://www.contraryinvestor.com/mo.htm
Snip:
Fear In Check?...We have produced a series of charts that we hope help explain what the American public may now be in the process of beginning to discount. As you know, the American public has been walking away from equity mutual funds in slow motion fashion for a good seven or eight months now. Yet they have continued to borrow and spend for homes, cars, etc. In our minds, that borrowing and spending could not have occurred without a certain psychological conviction that the labor market would again revive in a relatively short term time frame. It may just be that the current drop in consumer confidence is measuring a perceptual or psychological give up on the part of households relating directly to jobs. Again, as you know, this has been a long time coming despite layoff pressure and continuing high levels of jobless claims data that has steadfastly refused to improve on what is going on close to two years now.
*********
Misetich
As mortgage refinancing slows and layoffs increase its difficult to invision consumer spending holding up -
What is going to happen to the overvalued US stock market and the ovevalued US $ if the bastion (2/3 of US economy ) slows down?
All Onboard On The Gold Bull Express
Got gold?
Boilermaker
(3/4/03; 15:25:24MT - usagold.com msg#: 98876)
*******$362.40*******
"Yes, I am the one who bought the 30 tonnes of Portugal gold, and I did it because it was available. The transaction was a business arrangement that I undertook for a client in the Middle East. You see, I am a crude oil broker who arranges for tankers to deliver crude from Middle East sellers (my clients) to Western buyers. One of my clients had given me a challenge in the conduct of doing sales for him. It seems that he will only accept Euros for his oil. I was recently approached by a buyer who was interested in obtaining 10 million barrels of crude to top off his Strategic Petroleum Reserve. Apparently he was expecting war to break out in the ME and that a disruption in oil production would occur. Unfortunately the buyer was adamant about using dollars for the purchase.
Wanting to conclude this sale, I thought perhaps my ME client might accept a universal currency, gold, for these shipments. Upon explaining the situation with him he thought for a moment and I noticed a sly grin cross his face just before he nodded his assent. Then I proceeded to contact the buyer with this alternative means of payment. Their response was stony silence followed by a polite but firm "impossible".
Not to be discouraged by this impasse, the new challenge was to find a way to convert dollars to gold without revealing the conversion to my client (who has a bad temper). I have been a follower of the gold wars for many years and knew that European CB's have been disgorging their gold at 400 tonnes per year under the Washington Agreement. All I needed was a paltry 30 tonnes that would convert the $350 million currency to gold for my client. I contacted the Swiss who have been the major sellers at 6 tonnes per week but was told that their sales were "prearranged" and none was available to the open market. I decided to contact the BIS to see if they knew of a source. They were not at all helpful but a secretary there suggested that I call the Bank of Portugal because she had recently noticed lots of correspondence with them regarding their gold holdings and thought they might be preparing to sell some.
When I contacted the BOP I learned that they indeed were preparing a sale and that an undisclosed buyer had already spoken it for. A good friend of mine in Lisbon knows a BOP insider who could provide the identity of the buyer for a "finder's fee". The fee paid, I learned that the gold was to have been purchased anonymously for the account of a wealthy ME ruler, to be delivered to a destination in Libya. I was astonished to learn that the buyer was my own client. However, the insider told me that when the BOP learned the identity of the buyer they reneged on the deal and were negotiating with alternate buyers. Using the identity of another wealthy ME client I was able to arrange the purchaseof the Portuguese gold. My reward? A modest commission, 1.5 tonnes. Everyone is happy. My garden grows ever more wealth. Life is good.
misetich
(3/4/03; 15:22:52MT - usagold.com msg#: 98875)
US boosts forces near N Korea
http://news.bbc.co.uk/2/hi/asia-pacific/2820469.stm
Snip:
The United States is ordering extra military forces to the western Pacific to boost defences near North Korea.
The move comes amid heightened tension with Pyongyang, following Monday's interception of a US surveillance plane by four North Korean fighter jets in international airspace.
................
Misetich
Gold is poised to explode in days to come as the geopolitical scene heats up - the US and Britain are going head to head with Russia, China, Europe and the majority of Gulf States and North Korea situation getting hotter and hotter by the minute
All Onboard on the Gold Bull Express
Got gold?
misetich
(3/4/03; 15:09:11MT - usagold.com msg#: 98874)
China plans $10bn oil reserve
http://news.bbc.co.uk/2/hi/business/2814825.stm
Snip:
China is considering setting up a $10bn (Ł6.3bn) fund to purchase oil for a strategic reserve, reports in the state media said.
A strategic reserve could be financed out of the country's rapidly-growing foreign exchange reserves, the official China Daily newspaper reported.
..........
Misetich
Both China and Europe are increasing oil reserves as US inventories are almost at all time lows-
Selling US $ and buying Real Assets such as Oil and Gold is becoming a trendy thing...
Got gold?
misetich
(3/4/03; 15:03:52MT - usagold.com msg#: 98873)
Auto Sales Fell to Lowest Rate in 4 1/2 Years
http://www.nytimes.com/2003/03/04/business/04AUTO.html
Snip:
DETROIT, March 3 — Sales of the lucrative, gas-guzzling giants of the auto industry — the Escalades, Excursions, Suburbans and other big sport utility vehicles — are sliding, according to figures released today.
Analysts said that rising gas prices and a drumbeat of criticism of S.U.V.'s figure in the slowing sales. But the biggest culprit, they said, is a new wave of small and medium-size sport utilities from Asian automakers that are chipping away at a crucial profit center for the domestic auto industry.
..................
"Unless they're going to offer them two for one, I don't see how they're going to keep up the sales rates they had been so optimistic about," said Diane C. Swonk, an economist at Bank One. "At some point in time, we have market saturation."
**********
Misetich
The auto and housing industry were the "bastions" of the US economy in 2002 - both are showing signs of saturation - The slowdown effect won't be a pretty sight
What is holding up the US $?
Got gold?
sector
(3/4/03; 15:03:06MT - usagold.com msg#: 98872)
Dollar Falls to Near 4-Year Low Against Euro on War Concerns
New York, March 4 (Bloomberg)
03/04 07:35
By Mark Tannenbaum
New York, March 4 (Bloomberg) -- The dollar approached the weakest level in almost four years against the euro on speculation the U.S. will attack Iraq with or without United Nations backing.
``The U.S. seems ready to go it alone even if they can't get support, which would rattle the dollar,'' said Haydn Davies, chief economist in London at Barclays Global Investors, which oversees about 580 billion pounds ($918 billion). The firm has favored euros over dollars ``for some time'' and sees ``no reason to change.''
+++++++++++++++++++++++++++
The Major Currency Dollar Index is 93.83 as of 4:33PM March 4, 2003. The Euro at 1.0883.
The down-trend in the MCDI has shown an unbroken R^2 value above .9 with an end-of-year intersect at 73. Although it's early in the year, this MCDI down trend is very solid. It began its linear down slope with the termination of Paul O’Neill and Lawrence Lindsay. The Euro levelled off in Feb and now is headed back up. There are behind-the-scenes thingys happening here with the weak dollar and the strong Euro and the maybe weakening yen.
Beware the voices that whisper that "Gold has been decoupled from the dollar" and "Gold shares don't track the metal any more" ...because "It's a new paradigm" and ..."Gold is not the place to be". The S&P said as much about gold funds in this morning's "volatility warning". Anyone who disagrees with the administrative powers is demonized.
France, Germany…gold bugs. Huh? Have gold bugs achieved so much inherent power that we can now prompt the S&P into firing warning shots?
Better buy some more.
Waverider
(3/4/03; 14:40:24MT - usagold.com msg#: 98871)
VIP: DAILY GOLD MARKET REPORT
http://www.usagold.com/DailyQuotes.html
Short Snip:
"Gold gained on a weakening U.S. dollar and continued rising geopolitical tensions. Another positive for gold could be the difference between inflation and nominal interest rates. Even though the "official" inflation rate is very low, "real" interest rates are even lower, actually the "real" interest rate is negative. When "real" interest rates, accounting for the difference between inflation and nominal interest rates dip into negative territory, the price of gold should rise. Real rates have not slipped into negative territory since the late 1970's and 1980's. In the past when real rates were negative gold gained more than 30% on an annualized basis."
21mabry
(3/4/03; 14:33:43MT - usagold.com msg#: 98870)
Warren Buffett
MR. Buffett could buy 1 billion worth of gold and demand delievery,I would think that would throw markets into chaos,goverment would never allow it.The person who does such a thing may be taking a chance with his or her very life.
TownCrier
(3/4/03; 14:23:49MT - usagold.com msg#: 98869)
Watch the euro... Peeks above $1.09
http://www.borsaitalia.it/fwa-cgi-bin/news.pl?id=1046806088nN04520829&tit=Euro%2Fdollar%20peeks%20above%20$1.09&type=internazionali&ling=EN
(Reuters) -- Euro/dollar stages short-covering bounce above $1.09 figure, but unable to press to new highs after abortive run at February's 4-year high at 1.0938 leads to some capitulation selling. Dealers report options-related resistance in $1.0950 region, but expect a test of $1.10 as soon as this week as Iraq war fears reach full boil.
-----(from url)-----
As you contemplate a rising euro or rising gold, bear in mind self-reinforcing market actions (i.e., falling dollar expectations give rise to liquidation actions which confirm the expectations which drive more selling action, etc) particularly where a pardigm shift may be brought about in such a way that there is no "oversold" condition to rebound from or otherwise justify a two-way market. That is a reason to own gold if ever there was one.
R.
Boilermaker
(3/4/03; 14:19:40MT - usagold.com msg#: 98868)
Randy
The Vanguard PM fund was closed 6/28/02, 8 months ago.
Your rule #4 states
"Promotional posts in general.
Examples include promotion of your organization, yourself (includes posting e-mail addresses), a company you work for or invest in, and promotion of internet sites and businesses that compete directly with USAGOLD - Centennial Precious Metals'
Does this mean that any firm that accepts investors money such as a bank or brokerage or real estate firm, cannot be linked in our messages? I thought it referred to PM oriented businesses.
But, not to whine. I accept the removal and let's move on. You do a wonderful job and I do not wish to cause you grief over such a minor matter.
Cheers,
Boilermaker
TownCrier
(3/4/03; 14:04:09MT - usagold.com msg#: 98867)
Boilermaker -- investment services and competition
If Jed and Granny strike oil, and are directed to the V-Guard Group with their newfound wealth, I'm sure V-Guard brokers would be happy to find an investment placement for each and every one of Jed's dollars. That's a serious competitor. And specifically regarding their most "goldish" fund, the one in question, they haven't yet shut the door as you've implied. Take another look at the first sentence in your origianl link: "...closed the fund to all new investments effective at the close of business on June 28." That is fully four months of free promotions that we (the forum) have no obligation to provide for them for this fund, nor afterward for any other investments they might wish to provide.
I should hasten to add that this applies only to the forum. You may in fact find in direct consultation with the brokers at Centennial they just might gently point you toward an investment competitor like this as part of an overall investment/diversification strategy -- once your physical metal needs have been prudently attended to. However, if we (at the forum) facilitate steering someone away before they have a personal chat with our host, then we've provided a disservice to our host. That's the important distinction. Seem fair enough?
Thanks for your interest and support!
R.
Black Blade
(3/4/03; 13:55:59MT - usagold.com msg#: 98866)
Retirement: It's going to cost you
http://money.cnn.com/2003/02/28/retirement/costs/index.htm
Most people have grossly underestimated how much they'll need to save for their golden years.
Snippit:
NEW YORK (CNN/Money) - Americans spend a lot of time fantasizing about all the fun they'll have when they retire. But the daydreams almost never include the ugly reality: just how much those extended vacations are going to cost. According to a survey by the American Savings Education Council (ASEC), more than half of all workers anticipate they'll need less than 70 percent of their pre-retirement income during their golden years – an estimate that's unrealistic for even the most disciplined budgeters. "People often wrongly assume that their expenses are going to come down when they retire, but in fact they often go up," said Don Blandin, ASEC's president. "Depending on how long you live, the kinds of medical problems you have and the kind of lifestyle you want, you may need 120 percent of your current income during retirement."
Black Blade: Retirement the "unachievable dream". Many will never be able to afford to retire after having their hopes and dreams dashed by the fraud of Wall Street. It reminds me of the old story where a banker and a client go down to the marina in New York City. The banker points and says "those are the bankers and brokers yachts". The client asks "where are the clients yachts?" In short the only one who will look out for your interests is yourself. Always look out for number one. Diversify with a bit of PM insurance.
Black Blade
(3/4/03; 13:40:07MT - usagold.com msg#: 98865)
Apocalypse is nigh, Buffett tells Berkshire faithful
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2003/03/04/cnbuff04.xml&sSheet=/money/2003/03/04/ixcity.html
Snippit:
Warren Buffett is poised to issue his most doom-laden forecast for the state of the world economy yet, including a damning verdict on the derivatives industry he fears could cause a global financial crisis. In the upcoming annual letter to shareholders of Berkshire Hathaway, Mr Buffett drops his usual folksy style to warn that banks do not understand the hidden risks lurking on their balance sheets. He labels derivatives "time bombs, both for the parties that deal in them and the economic system" and "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal".
"Despite three years of falling prices which have significantly improved the attractiveness of common stocks, we still find very few that even mildly interest us. That dismal fact is testimony to the insanity of the valuations reached during the Great Bubble. Unfortunately, the hangover may prove to be proportional to the binge," he writes. Until now vague warnings about the pyramid nature of derivatives contracts have led to bland assurance from banks that there is no threat to their stability. Mr Buffett says the banks simply have no idea what their exposure could be. "When Charlie [Munger, his business partner] and I finish reading the long footnotes detailing the derivatives activities of major banks, the only thing we understand is that we don't understand how much risk the institution is taking."
Derivatives are often complex financial instruments that allow investors to take bets on anything from share prices to the weather. Their range is limited, says Mr Buffett, "only by the imagination of man, or sometimes, so it seems, madmen". Enron was especially fond of derivatives, offering contracts that would be settled years in the future and claiming profits immediately.
Black Blade: That last paragraph sounds ominously like what Barrick says about its forward sales structure – ouch! The Buffett story and the derivatives mess is getting some exposure in the financial media today.
TownCrier
(3/4/03; 13:31:08MT - usagold.com msg#: 98864)
HEADLINE: U.S. Treasury's Snow says deficit fears overblown
http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=2324935
WASHINGTON, March 4 (Reuters) - U.S. Treasury Secretary John Snow, preparing to defend White House tax-cutting plans before Congress, charged on Tuesday that some lawmakers were using future deficit increases as an excuse for opposition.
..."Even (Federal Reserve) Chairman (Alan) Greenspan, something of a deficit hawk, has said the current deficits are not of a level to create any disruptions in the financial markets," Snow said.
..."They don't disrupt financial markets, they don't lead to higher interest rates and they're clearly manageable," Snow said. "The fact of the matter is a lot of people up there (on Capitol Hill) don't want the [tax] plan, and the deficit is an argument that is convenient but it's not a substantive attack on the merits of the plan."
He said projected deficits, amounting to about 3 percent of total national output, were "not monumental by historical standards" though he said it was true that there will be deficits "for some years to come."
-------(see url for article)-------
Snow, Greenspan... it is the nature of the job to give assurance and say all is well. Nobody wants to see a panic, nor would they want to induce one during their own watch.
It is fair enough, technically, to say as Snow did that the current deficits are not of a level to create any disruptions in the financial markets. (It's not like the Treasury is trying to sell $5 trillion of new debt to the investors in any given year.) However, with deficits expected for years to come adding to the accumulated debtload from years past, it is a change in the collective mindset of the perennial bond buyers and holders that would precipitate a market "disruption" should they decide to sell en masse -- regardless of the current budget.
Diversify your portfolio to limit your exposure.
R.
ElGordo
(3/4/03; 13:27:50MT - usagold.com msg#: 98863)
The Kondratieff winter is here, and it is getting colder.
http://www.321gold.com/editorials/anon/anon030403.html
snippet:
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966.
"There can be no question that the US economy is at its most critical juncture since the Great Depression of the 1930's. With both the cause and pattern of the present downturn diametrically different from those of prior recessions, it should be clear that past experience cannot help in accessing what is to come." The Richebacher Letter, October 2002.
"Sharp rise in US job losses adds to gloom." "Fears grow over faltering global rebound as Germany and UK also report bleak economic news." Front Page headline: The Financial Times Jan 11/12 2003 "US job losses increased sharply last month, adding to concerns about the weakening global economy recovery. The 101,000 decline in payrolls was the largest since February and surprised Wall Street... US job losses last year reached 181,000 the worst since the end of the 1991 recession. Losses in the manufacturing sector became more widespread. Makers of aircraft, cars, computers and films experienced some of the biggest percentage declinesin employment along with restaurants, bars, retailers and banks." Ibid.. The Kondratieff winter is here, and it is getting colder.
The economy has only just begun its slide into the Long Wave depression, and already excessive debt is leading to significant bankruptcies. As the recession deepens, and it will, the pace of bankruptcies will increase markedly. It is akin to a landslide that starts from a single rock dislodged from the top of a steep hill. Once the Kondratieff winter debt landslide is set in motion there is nothing that will stop it until it has run its course.
__________
This article makes a good case for gold.
pinetree
(3/4/03; 13:24:43MT - usagold.com msg#: 98862)
GENE Vanguard precious metal funds
Early last year I noticed vgpmx was not performing like most of the other gold funds. While most gold funds were increasing in value, vgpmx was hardly moving. Like you I wrote to the president of Vanguard. Several weeks later I received a very vanilla form letter reply from some assistant to the assistant of the president. About the same time I began to noticed that I wasn't receiving confirmations and reports from another fund I have with vanguard. With the poor showing of vgpmx and this unusual mail problem, I sold my vgpmx which I had for several years and bought Gabelli gold fund. Now like magic my reports from Vanguard are arriving on time and the performance for goldx makes very pleasant reading.
Operative
(3/4/03; 13:21:24MT - usagold.com msg#: 98861)
*** $404.50 ***
Excerpt from Operative's Diary
2:00 AM EST Date: (redacted)
I received an urgent phone call from an executive in the gold mining business.
Mr. (redacted) of (redacted) Mining Corp had been referred to our office by (redacted). He was seeking our services in order to remove 30 tons of gold purchased from a bank but unable unable to obtain local governmental permission
for clearance through customs. A meeting was set up on (redacted)at the (redacted) hotel in the Canary Islands to meet and discuss how we might be of service.
Background:
The executive arrived in at the hotel carrying a large legal briefcase of documents. Upon discussing his current situation and reviewing the provided documents it was clear that he did indeed own the gold purchased from the Bank of Portugal. It was also clear from the documents that the executive had sold forward a large amount of his mine's production. It was not clear, to me at least, the details of this process called "hedging" in his industry. It all seemed extremely complicated and perhaps designed to be obtuse.
The price of gold had risen rather sharply in recent months and several of the hedged contracts became redeemable. As fortune, or lack of, would have it the executive's company did not have the physical gold to make good on the contracts. He was able to arrange a purchase of 30 tons from a bank and actually
had completed delivery of the gold which had been temporarily placed in a Lisbon warehouse in order to prepare the gold for private charter shipment out of the country.
The Problem:
One day after accepting delivery the executive received notice from the banks legal dept. It appears that a "mistake" had been made since the bank officer had no legal grounds to actually sell the gold to a private party. The letter offered to refund the money upon return of the gold to the bank with a 5 percent handling charge for any expenses the executive had incurred during this "misunderstanding ". The letter also pointed out that any attempts to remove the gold from the country would be met with complete confiscation by customs and no monies would be paid. The executive required the gold to satisfy contractual commitments and felt he had been misled by the bank and intended to attempt to take his paid for gold home with him. A plan was developed to undertake the mission and a fee paid in the amount of (redacted) million dollars.
The Operation:
Another warehouse was rented nearby where the gold was stored. Half a dozen high temperature ovens, 4 tons of clay, and 60 tons of common paving bricks were purchased. The gold bars were coated with a mixture of clay and baked giving them the appearance of brick paving stones. The "gold bricks" were interspersed with normal bricks. While this process was underway another team member secured the bill of lading and proper documentation to ship by sea the almost 90 tons of paving bricks to South Africa. Upon delivery of the "product" to the shipping yard, and confirmation that the order had been loaded upon the ship, the executive and our team members departed the country and returned home.
Final Disposition:
The products never arrived to South Africa. An operative was sent back to Portugal to investigate the situation. A bribe of (redacted) was paid to a local custom official who provided documents of the ships entire manifest. It appears that an error in delivery had taken place.. There were 3 shipments labeled as brick/stone. My guess is the gold, now incased in clay brick form, is one of three places. A new lobby of a bank in England. A new bathroom floor for a large villa in Greece. The third choice is a renovation of a shopping mall in Boston.
Update:
Approximately 5 weeks have passed since the lost shipment. Talks with the executive and his company for additional money in order to follow up on the missing gold shipment have stalled. Recent phone calls have not been returned and recent news story show the executive has been fired.
Also of interest is a recent news release by the Bank of Portugal of a "sale" of 30 tons of gold.
The Hoople
(3/4/03; 13:13:09MT - usagold.com msg#: 98860)
GoldnSilver2002, smell of fear indeed
On a day that North Korea basically put the world on annihilation notice, the Nimitz is dispatched post haste to Iraq, Buffet and Munger basically say they know something we don't (yet) about derivative WMD's, and Greenspan declares the housing bubble pricked gold crawls to a $3.90 gain. It is illogical unless you have the knowledge that this site and GATA have provided. I noticed they (media) were implying that Buffet alone had accounted for the 35% POG rise over the last year. Still another BS reason to divert people from truth. Barron's couldn't possibly speak truth. They are bought and paid for shills. The truth about gold is making BB's "quake in their stolen boots" as Marx once said.
Boilermaker
(3/4/03; 12:50:36MT - usagold.com msg#: 98859)
Randy
I was a bit disappointed with the removal of my message re Vanguard. I'm not sure which rule I violated. My post had to do with their announced closing of their precious metals fund which means they are no longer a competitor for gold oriented investments (at least for the time being).
Boilermaker
Buena Fe
(3/4/03; 12:40:38MT - usagold.com msg#: 98858)
puddings
tapioca time
thom calandra's 1000 pointer may soon appear in a market near you
Max Rabbitz
(3/4/03; 12:20:29MT - usagold.com msg#: 98857)
Randy and Boilermaker
CPM has no real competition from this fund and I doubt they will ever advertise here. I took all my money out over a year ago and bought physical after writing a letter of similar complaint. I also noted that the directors of this fund had no experience in precious metals but rather had interests and backgrounds in industries that would benefit from low PM prices. I received no answer to my letter.
Gandalf the White
(3/4/03; 12:13:45MT - usagold.com msg#: 98856)
LOOK --- POG CONTEST --- "KING of the HILL" report for 3/04/03 !
Daily SETTLEMENT Prices on the COMEX Contact GC3J with Open Interest of THAT Day
---
2/28/03 GC3J HIGH = $351.5 low = $345.3 Settlement = $350.3 Change +$4.1 OI = 105,993
3/03/03 GC3J HIGH = $349.9 low = $345.2 Settlement = $349.3 Change -$1.0 OI = 104,153
3/04/03 GC3J HIGH = $354.9 low = $349.5 Settlement = $353.3 Change +$4.0 OI = ?
For the FIRST DAY, 2/28, Sir Kevin$ was "King of the Hill"
For the SECOND DAY, 3/3, Sir Kevin$ was AGAIN "King of the Hill" !!
For the THIRD DAY, 3/4, Sir Zelts is NOW "King of the Hill" !!!
<<<< SNIP from Entries >>>>
**** $355.0 **** Clink! (02/28/03; 07:02:36MT - usagold.com msg#: 98584)
**** $352.4 **** Zelts (02/28/03; 08:13:07MT - usagold.com msg#: 98592)
**** $348.5 **** Kevin$ (02/27/03; 12:47:30MT - usagold.com msg#: 98535)
**** $344.0 **** monTROZ (03/03/03; 12:35:48MT - usagold.com msg#: 98787)
**** $340.0 **** kahulik (3/2/03; 13:35:28MT - usagold.com msg#: 98733)
**** $336.5 **** Topaz (02/27/03; 22:17:44MT - usagold.com msg#: 98554)
====
Does the TREND appear to be "UP" & "Down", BUT with a BIAS toward "UP" ?
<;-)
Zelts
(3/4/03; 12:11:59MT - usagold.com msg#: 98855)
Gold Balloon
Thank you Sir Zhisheng for the excellent metaphor describing the battle between gold and the dollar.
How about this one: pumping air (dollars) into a flat tire(whole system).
USAGOLD / Centennial Precious Metals, Inc.
(3/4/03; 12:06:57MT - usagold.com msg#: 98854)
Investing in gold...
http://www.usagold.com/cpm/aboutcpm.html
TownCrier
(3/4/03; 11:56:20MT - usagold.com msg#: 98853)
Sorry about that, Boilermaker
Only at such time as Vanguard starts putting links on their website directing investors toward Centennial will we be able to allow posts that point investors toward them.
I hope that doesn't strike anyone as an unreasonable forum policy with respect to the host.
R.
TownCrier
(3/4/03; 11:45:20MT - usagold.com msg#: 98852)
HEADLINE: Buffett's trash talk on stocks ignites gold rumors
http://custom.marketwatch.com/custom/iwon-com/news-story.asp?guid={0805DBD3-F460-4F6C-91DF-29BDA52055E7}
SAN FRANCISCO (CBS.MW) -- Just hours after Warren Buffett took his annual bash at stocks and derivatives, bullion investors Tuesday speculated the famed financier was buying gold.
...Gold's price Tuesday at midday in New York was up $4 at $353.30.
Much of the gain, and a corresponding rise in sputtering gold-mining shares, came Tuesday after Andy Smith, a London-based bullion analyst, publicized Buffett's remarks about a derivatives nightmare and the potential for a fiscal meltdown.
"True, the 'G' word does not appear. Except between every line," said Smith Tuesday in a Mitsui Precious Metals report. "The (derivatives) genie is out of the bottle, and you do not have three wishes. Just a potentially toxic, mega-catastrophic mess."
...Smith says he was reluctant to fan the fires among gold bugs, who seemingly embrace any and every rumor that could boost prospects of the long-languishing metal. "I have detected a too-ready willingness to believe this," Smith told me about a Buffett-gold connection, "which is why I nearly did not send it out."
Still, Smith said he detects a growing uneasiness with traditional investments on the part of Buffett, an investor watched by tens of millions of other investors around the world. Buffett in his excerpts from his upcoming annual letter to shareholders, expected on Saturday, was ultra-negative on most stocks.
Other professionals in the bullion world are, like Smith, intrigued but circumspect. "If a 'Buffett buying gold rumor' is circulating, I would be dubious about it," says Ian McAvity, a director of gold repository Central Fund of Canada... "The invisibility of gold and other foreign activity is paramount to most buyers."
-------(see url for text)-----
An interesting and balanced presentation. Notable is Andy Smith's explanation of Berkshire's likely 2% reporting threshold... meaning, up to 150 tonnes could have been accumulated without the company feeling any need for disclosure to investors on that portfolio position.
R.
USAGOLD / Centennial Precious Metals, Inc.
(3/4/03; 11:17:53MT - usagold.com msg#: 98850)
Why gold? Why now? (And how to get it...)
http://www.usagold.com/gold-coins.html
Permission to reprint is hereby granted where the USAGOLD name is cited along with our web address, mailing address and phone number. For electronic reproductions, citing the post heading and the http://www.usagold.com/cpmforum/ website address as the source is sufficient.
 Centennial Precious Metals Gold coins & bullion since 1973 Denver, Colorado 80246-0009 We educate first-time investors! |
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