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ARCHIVED DISCUSSION FROM 3/4/2005
All times are U.S. Mountain Time

(Yesterday's Discussion.)

Henri (03/04/05; 17:24:07MT - usagold.com msg#: 129870)
Chinese building deep sea port in Pakistan
http://atimes.com/atimes/South_Asia/GC04Df06.html
Interesting development...more chinese strategic moves on existing oil supply in US backyard...I thought the Bush clan was building the Pakistani port They are our friends right?!

Gandalf the White (03/04/05; 17:21:20MT - usagold.com msg#: 129869)
"GOLD BUG INDEX" chart headed TO THE MOON, Alice ! <;-)
http://stockcharts.com/def/servlet/SC.web?c=$HUI,uu[h,a]daoayiay[pb200!f][vc60][iut!Uh89,21!Lp88,21,3]&pref=G
NICE Friday action !
Monday will be GOLDEN.
<;-)

Goldilox (3/4/05; 16:29:07MT - usagold.com msg#: 129868)
"hack" from Roget's
http://thesaurus.reference.com/search?q=hack
@ $ Bill

Main Entry:  hack
Part of Speech:  noun
Definition:  drudge

Synonyms:  
drudge, greasy grind, grind, grub, grubber, grubstreet, hireling, lackey, machine, mercenary, old pro, plodder, potboiler, pro, servant, slave, workhorse

Source:  
Roget's New Millennium™ Thesaurus, First Edition (v 1.1.1)
Copyright © 2005 by Lexico Publishing Group, LLC. All rights reserved.

-Goldilox

Reasonably definitive.We can probably guess what he really thinks of ole' AG.

TownCrier (3/4/05; 15:58:34MT - usagold.com msg#: 129867)
Various economic bits from Iran
http://www.iran-daily.com/1383/2228/html/economy.htm
Fuel Rationing Not on Agenda
TEHRAN, March 4--Oil Minister Bijan Namdar-Zanganeh confirmed here on Friday that concerns about a possible gasoline shortage are virtually over, stressing that the issue of fuel rationing has been dropped from the government's agenda.

Earlier, the National Iranian Oil Products Distribution Company announced that the government is pressing for rationing fuel from September. .........Energy Commission stressed that the parliament would not allow the government to ration petrol.

Iran imports 21-23 million liters of gasoline per day, mainly from other Persian Gulf states.
- - -
India Assured of Pipeline Security
NEW DELHI, India, March 4--Iran declared Thursday that it would guarantee the supply of natural gas to India through the proposed pipeline over Pakistani territory...

The $4.5 billion, 2,775-km Iran-India gas pipeline, a quarter of which will pass through Pakistan, is expected to be completed by 2009 to meet the huge demand for gas in India.

Iranian Parliament Speaker Gholam Ali Haddad Adel said Islamabad would host the trilateral meeting in which officials from the three nations would provide firm commitments on the security and supply of gas through Pakistan.
- - -
Calls on South Korean Leaders
TOKYO, March 4-- Mohsen Aminzadeh, Iran's deputy foreign minister for Asia-Pacific affairs in Seoul on Thursday stressed the need to expand economic relations with South Korea...

...in separate meetings with South Korean Prime Minister Lee Hae-chan and Foreign Minister Ban Ki-moon, pointed to the significance of bilateral relations.

In his meeting with the premier, Aminzadeh expressed his belief that economic ties between the two countries should move towards active investments and joint ventures in the future to replace the present trade exchanges.

Lee Hae-chan described Iran and South Korea as two brotherly countries and stressed the right of all countries to gain access to nuclear technology for peaceful purposes.

In another meeting, South Korean Foreign Minister Ban Ki-moon stressed the need to promote cooperation in different areas particularly in energy sector.

He said his country regarded Iran's role in establishing stability and security in the Middle East as decisive.

^----(from url)----^

Give special consideration to that final exerpted story regarding ties to South Korea, and think back to South Korea's comments last week that time was at hand to consider building reserves beyond the dollar -- if not actually selling existing dollar holdings outright.

Call it a political signal of resolve or "show of good faith" in light of negotiations in the formation of strategic new partnerships. Apparently there is little anticipated need for so many dollars when dealing with Iran.

A sign of the changing times.

R.

Dollar Bill (3/4/05; 15:31:55MT - usagold.com msg#: 129866)
.,.
I have a hard time believeing that a research group in dubai is going to educate oil shieks. I think oil shieks got thier education in the seventies. And made some deal with the -west- right before gold prices went into control.
The pattern I think we will/are seeing in the world economy.
Control prices (wages) down, then, when global wages

Dollar Bill (3/4/05; 15:23:19MT - usagold.com msg#: 129865)
.,.
Argentina didnt face a new bancruptcy law from the IMF.......they broke through the wall on a dare, and stiffed investors.
I wonder how THAT will play out as countries around the world watch the goalposts moved for Argentina.
Joe sixpack and I will have a tougher time escapeing debt.
Senate Democrat leader said about Greenspan: "I think he's one of the biggest political hacks we have in Washington"
Whatever =hack= means.......




Ned (3/4/05; 15:19:43MT - usagold.com msg#: 129864)
CRB rocks again !
Missed the post yesterday but since last Friday when the CRB cracked 300 we have had 5 consecutive up days, a couple significant spikes.

Todays' close at 309 and change defies the inflation gimmicks regurgitated by the PTB. When these prices filter through the various systems in a few months, 'Katie, BAR THE DOOR!'

Watch the $50+ oil mangle the trade numbers in a month or two, gonna be brutal. Finally, when real numbers start to hit, my guess is a month to 6 months, gold is going to fly. HUI had a STELLAR day, a GOLDEN day rising from 210 to 210, that ain't pocket change. The bewildered traders are starting to see the light. When the HUI, as a lagging indicator of inflation, trails the CRB and suddenly CLICK! on come the lights, gold and gold stocks will race ahead of the CRB and they will be the LEADER !!

This is really starting to look great. A little more firming, a little more conviction and we are out of here !

Slingshot...get that sword ready pal...it's almost time to separate the men from the rabbits!

Have a golden weekend.

USAGOLD Daily Market Report (3/4/05; 14:57:52MT - usagold.com msg#: 129863)
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

(MarketWatch) -- Metals futures came off their best levels of the session Friday but still managed solid gains, inspired by February's growth in U.S. payrolls and expectations for continued increases in commodity prices.

"Gold surged right after the employment numbers, and that shows gold is defying the typical expectations," said Kevin Kerr of Kerr Trading International.

Bolstering the move in gold, the U.S. dollar sustained big losses against both the euro and the Japanese yen in foreign-exchange trading.

COMEX April gold futures closed at $435.10, up $4.30.

"I think we have moved into a new realm for gold as it finds its own way and charts a new path with investors," Kerr said. "I think now we are setting up to test $475 very soon."

----(see url for 24-hr news, market prices)----

TownCrier (3/4/05; 12:39:33MT - usagold.com msg#: 129862)
Precious metals salespitch in the mainstream
http://www.thestreet.com/funds/gregggreenberg/10211675.html
3/4/2005 (TheStreet.com) -- Investors truly bent on spreading the risk in their portfolio by including precious metals need to realize that all that glitters is not gold. There are also opportunities to diversify -- and profit -- by holding other precious metals, namely, silver and platinum.

"Gold may be the most familiar and most liquid of all the precious metals," says Mark Albarian, CEO of precious metals dealer Goldline.com. "But investors should not ignore silver and platinum, especially now that they are trading at a fraction of their all-time highs."

One reason investors often stick to the yellow-brick road when it comes to precious metals is that they feel intimidated venturing outside the highly publicized gold markets. But that fear is unfounded, says Albarian.

"The same process for buying gold coins and bars applies to silver and platinum, so first-time players in these markets need not be anxious," he says.

^----(from url)-----^

Yes, USAGOLD-Centennial handles gold, silver and platinum.

With one call you can have it all!

1-800-869-5115

R.

TownCrier (3/4/05; 12:29:59MT - usagold.com msg#: 129861)
HEADLINE: French gold sales have stopped
http://www.forexrate.co.uk/news/index.php?itemid=482
(excerpts)
04 March 2005 -- Since a clearly unhappy President of the Banque de France, the French Central Bank, announced it would be selling around 500 tonnes of gold over the next 5 years, we have seen only these sales of gold from France:

- September - 0.6 of a tonne.
- October - 7.5 tonnes.
- November - 23.2 tonnes
- Nothing since then

Indeed, the question now comes to the fore, will France sell any more of its gold under this agreement?

With the poor performance of France in abiding by its E.U. commitments, the French had to do something about its public deficits, even if it was a token gesture. So the seemingly grand gesture of selling some gold to make the gesture to this cause was found to be a convenient political expedient. The tiny contribution this would have made, to fill the gaping wound of the French deficits, made the reality of these sales and their purpose, underwhelmingly inadequate.

Previously M. Noyer said: -
"The central bank will wait until gold prices are 'appropriate' before agreeing the sale." In addition, he added, "The bank will certainly take into account the price. If we feel the timing is not appropriate, then we will wait". With the sales beginning shortly after this and climbing one would have thought they would by now have been the main source of "Official" supply, but they stopped abruptly, just before the gold price surged in the last days of 2004.

Change of Political climate

Maybe the French government has already rescinded this decision, or permitted the Central Bank to do so? Since the decision was made the political climate has changed with the departure of the 7th Finance Minister, since the present government was formed in France. Now we await the words of the 9th Finance Minister M. Thierry. With the departure of Minister Sarkosky, the pressure on the Banque de France to sell gold left with him.

-- Switzerland announced that once it had completed their sales of 1300 tonnes they would sell no more.
-- Germany announced that it would sell 600 tonnes [+ 20% of their reserves of gold], but then backed off when push came to shove, postponing their sales until after the first year of the agreement, because "gold was an effective counter to swings in the $".
-- Italy bluntly stated it would not be selling gold.
-- This left France stating, as we said above.

We must conclude therefore, that Europe per se, is a rapidly declining seller of "Official" gold.

The U.S.A. has made their feelings known as being against I.M.F. sales too.

So who of the big gold holders wants to sell their gold?

Those left who want to sell gold could find themselves, very alone. With the prospects for the $ looking so poor, such sales also smack of incompetence.

Where is the Transparency intended in these agreements?

-- Right now there is silence, on the matter of buying gold for reserves, by Central Banks [we presume mainly for fear of sending the price of gold skyrocketing].

-- There is silence on the matter of selling gold before the event [Possibly for fear of sending the gold price down on the news].

-- There is a lack of clarity on the intentions of the Central Banks on why they are selling gold and if they really will continue to sell gold [Apart from the unprofessional statement that it is to get a return on the paper currencies they will replace the gold with].

This contradicts one of the underlying reasons for the agreement...

The 2004 Central Bank Gold Agreement [which began on the 27th of September] is as follows.

In the interest of clarifying their intentions with respect to their gold holdings, the undersigned institutions [15 CBs] make the following statement:

1. Gold will remain an important element of global monetary reserves.

2. The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted programme of sales over a period of five years, starting on 27 September 2004, just after the end of the previous agreement. Annual sales will not exceed 500 tons and total sales over this period will not exceed 2,500 tons.

3. Over this period, the signatories to this agreement have agreed that the total amount of their gold leasings and the total amount of their use of gold futures and options will not exceed the amounts prevailing at the date of the signature of the previous agreement.

^-----(from url)----^

A good overview for anyone arriving late to the events at hand.

R.

Goldilox (3/4/05; 12:02:25MT - usagold.com msg#: 129860)
Gas prices
@ Whitewaterwoman,

Yesterday I posted a tidbit I saw on CNBC. Gasoline wholesale jumped a nickle in the morning, even though crude prices were flat for the day.

When we first noticed pump prices in the $2.50 range, wholesale gas was about a buck and a quarter. Now it is at $1.45 pushing $1.50.

I totally concur with you. We are about to get "hosed" at the pumps! Fill up today and keep your tank topped off!

Do I hear three Washingtons/gal by the summer driving season? I shudder at the thought of filling an 8MPG Hummer.

Fortunately, my motorcycle still fills up for less than a crisp Hamilton, but probably not for long.

USAGOLD / Centennial Precious Metals, Inc. (3/4/05; 11:35:59MT - usagold.com msg#: 129859)
Enter the gold market with grace and confidence.
http://www.usagold.com/Order_Form.html





Gandalf the White (3/4/05; 11:22:13MT - usagold.com msg#: 129858)
Sir Goldilox --- <;-)
BEAUTIFUL "waterfalls" are BACK !
Are you taking notes Lady Whitewaterwoman ?
<;-)

Whitewaterwoman (3/4/05; 11:21:27MT - usagold.com msg#: 129857)
Gas prices to jump in US
This may explain a few things: CNN, Drudgereport and Yahoo News are all carrying a story about how we should "expect" gas prices nationwide (US) to jump 24-25 cents a gallon in the next few days. Fellow Americans, go top off now and save a few bucks. Then bend over and get ready.

I'm pretty sure this is a result of the POO's recent wings above 50/barrel and its refusal to come down, and OPEC's announcement of new banding. Can you say Peak Oil? I betcha can... Loved the stupid govt. spin, that these new prices will spur new exploration and thus, cause prices to come down...I don't see it happening. Was a story in the Austin American Statesman yesterday about some old widow in Houston staring out her window at a wildcatter doing new exploration on an old 1930's oil site near downtown. :P Reeks of desperation, doesn't it?



TownCrier (3/4/05; 10:54:24MT - usagold.com msg#: 129856)
Boilermaker, Eurosystem vs. Swiss
Very good. You've made the correct presumptions and assumptions.

As you rightly stated, the Swiss sales come to an end in about three weeks.

The EMU-member sales have been more spotty in nature, and one might think the occassion of sales could put a blight on price for the week, but given the nature of their design and intentions, I wouldn't expect sales from that quarter to bring worries to the gold price, most especially from a euro price perspective.

And besides, the physical component of the gold market is so very small, on any given day you can be almost assured that the price is being driven directly by events in the derivative and unallocated components. CB sales have an effect only insofar as the paper-playing pricesetters might choose to dance to that faint gold drumbeat instead of to their own brass ensemble, but that is certainly not their style.

And finally, if you check the charts, both the dollar price and euro price were solid during last week's larger-than-average CB sales out of Swiss+euroland. I think something else must be setting off canamami's POG radar regarding the past few days.

R.

Goldilox (3/4/05; 10:48:48MT - usagold.com msg#: 129855)
DX action
http://charts-d.quote.com:443/1002980432830?User=demo&Pswd=demo&DataType=GIF&Symbol=DX00Y&Interval=10&Ht=600&Wd=800&Display=2&Study=MA&Param1=13&Param2=0&Param3=&FontSize=10
@ Gandalf

Did someone steal the ESF's flashlight? It looks like they just fell off a cliff.

But of course, as everyone knows, they discount all trading action six months ahead.

ROTFL!

Kilo (3/4/05; 10:44:51MT - usagold.com msg#: 129854)
Galearis - Silver vs. Gold ?
Maybe I misunderstood your comment, but how do you conclude that silver has done better than gold ? I suppose alot depends on when you entered the respective markets, but since the 1999 era, the two have gained by very similar percentages. Silver seemed to lag gold in the respect that it played a game of "catch-up" later, after gold had already made some nice moves. If one were to have entered silver late rather than gold early, I guess that would equal a perceived "better performance" on the side of silver. Back to the "timing is everything" adage. I think when all is said and done though, the drop in the dollar (DX) has nearly negated any "rise" in the metals. But "breaking even" is always preferable to sitting on paper and losing your shirt. The somewhat steady and predictable dollar to gold correlation these past few years is what has made the spike and dip swaps I spoke of possible.



Goldilox (3/4/05; 10:44:24MT - usagold.com msg#: 129853)
GATA study at Urbansurvival.com
http://urbansurvival.com/week.htm
snip:

"DALLAS--(BUSINESS WIRE)--March 3, 2005--A study published by a research foundation in Dubai has endorsed the Gold Anti-Trust Action Committee's findings that Western central and commercial banks have rigged the gold market but have much less gold than they claim to have and so are vulnerable to rising demand for gold. The study recommends that the oil-producing countries of the Middle East diversify their ever-depreciating U.S. dollar holdings into gold.

The study, "The Role of Gold in the Unified Gulf Cooperation Council Currency," was written by Eckart Woertz, vice president of CFC Securities in Dubai, for the Gulf Research Center. It quotes the work of GATA's consultants, including Frank Veneroso, and predicts that the gold price suppression scheme of the Western banks will fail just as their similar scheme of the 1960s, the so-called London Gold Pool, failed when the drain on Western gold reserves became too great. Once the scheme fails, the study says, "it will be highly difficult and expensive to accumulate a gold reserve. This is especially true for central banks that have low gold reserves like those in the Gulf Cooperation Council countries."

Goldilox-

It brings up a most interesting question once again. If CB's are selling gold, just who are the buyers?

Hopefully, everyone who has enough foresight to read this forum!

Goldilox (3/4/05; 10:39:23MT - usagold.com msg#: 129852)
The Hidden Story of the Week: Bankruptcy Reform
http://urbansurvival.com/week.htm
snip:

You might think, if you just dropped in on planet Earth from somewhere else in the galaxy, that there were really three big stories on Thursday: Martha's freedom, Michael's trial, and the wild chimpanzees of Kern County.  But, of course, you'd be wrong. That's just pabulum for the masses of non-thinkers.

The real story today is about grease - and specifically the banking industry's attempts to make declaring bankruptcy event harder for average Americans while preserving the loopholes for the fat cats.

Watching the discussions and vote on C-SPAN 2 Thursday, while nursing my gout attack, I learned that most bankruptcies are caused by medical problems and that banks have enough grease and horsepower to roll over the democrats who suggested limiting maximum interest charges to 30%.  The attempt to leave senior citizens with a homestead exemption of $150,000 (so an elderly person would still have a place to live following a major medical crisis) was also thrown out.


Goldilox -

George Ure has also noticed the rumblings about bankruptcy "reform". Check out his site for references to his sources. Isn't it interesting that major business news sevices ignore a story like this in favor of junk news?

See MSG# 129845 on the eliminating of the military hardship exemption.




Gandalf the White (3/4/05; 10:24:14MT - usagold.com msg#: 129851)
Thanks Sir Boilermaker !
http://focus.comdirect.co.uk/en/detail/_pages/charts/main_large.html?sSymbol=GLD.FX1
Boilermaker (3/4/05; 07:44:13MT - usagold.com msg#: 129849)
Wake Up Gandy, The Hounds are Loose!!
===
WOWSERS -- just sleep-in a LITTLE bit and "WHO let the dogs out ?"
The GOLD chart is LOOKING GOOD !
Something smells fishy around here -- Sir Smeagol !!!
but it is a "Nice" end to the week.
<;-)

Galearis (3/4/05; 10:12:50MT - usagold.com msg#: 129850)
@DoubleEagle & Kilo
@DoubleEagle
Staying the course may mean that my daughter (and her husband) who are conventionally gold/silver hostile will inherit most. That's not necessarily a bad thing except that I won't get to put one of those bumper stickers on that says: "happy spending the kids’ inheritance" or some such…(smile) But we seem to be twins in endeavour. In my case, I started buying gold the other side of the bottom last century (smile), after I started learning a little. Those were the early GATA years and my learning curve was almost inspired. But at some point when one realizes that gold is THE focus by TPTB but is understood in inverse proportion to the whole rest of the financial community, that one starts to see (perhaps) WAY down the road and know that the people that run things from behind are not going to roll over with honour and dignity. It may not look like it to most, but I see these events as "kicking and screaming" as the world tries to find a way around the fiscal empire of the United States. This helped me in my decision to invest (yes invest) in silver as the probable early play. And of course, Butler was an inspiration. And I am grateful. As far as that goes.

Silver, not gold has performed for me better than any inflation hedge paper out there as a savings vehicle. Gold has been terrible for Canadians, and mediocre (just short of terrible) for Americans,,,,if one factors in the dollar decline on the Forex. Ignoring the incalculable REAL inflation and just going by Forex figures. In terms of year 2000 dollars, gold is a little over $300 per ounce- some $50 off its all time lows in terms of value in year 2000 dollars.

So we are still in the accumulation phase of this bull market, which (IMO) is barely started. Also (IMO) we will know that this is a real bull market in the yellow 1) when the dealers start to have problems obtaining stock, and 2) pundits start watching the COMEX for signs of default. That is probably some years away. I may be wrong but I do not believe any of this can be said for silver.

So like you I guard the metal and pay the bills (including debt) with the fiat. And I still accumulate…We are after all STILL beating the "rush to the sale"

But unlike Kilo:

My situation does not lend itself to speculating in metal as you describe. I note that not only are many metalbugs being discouraged by the paper shenanigans and the affect on the spot price, but also the metal shortages (gold and silver in my area) have affected local dealers in my area substantially. Two have left the business.

Consider that as a trend that may continue, imo.
In conclusion, I consider that what I do is both investment banking AND hoarding.

FWIW.

And best regards to you both,

G.


Boilermaker (3/4/05; 07:44:13MT - usagold.com msg#: 129849)
Wake Up Gandy, The Hounds are Loose!!
Get out the meat and keep 'em runnin'

Boilermaker (3/4/05; 06:55:13MT - usagold.com msg#: 129848)
TC, 968, anyone, ECB Gold Sales Question
http://www.ecb.int/press/pdf/wfs/2005/fs050225en.pdf
I have a question. The weekly ECB financial statement for Feb 25 (linked below) indicates net sales of about 9.4 tonnes for that week. Presumably these sales were by member banks and are covered by the WA annual limit of 500 tonnes/yr. However, since the Swiss CB is not a member of the ECB but is a signatory of the WA, can we assume that Swiss sales of gold are not reflected in the ECB numbers? If that is the case, and the Swiss are selling about 6 tonnes/wk then we must add that to the ECB sales which gives us 15.4 tonnes for the week ending Feb 25. The sale of 15.4 tonnes/wk for 52 weeks would be 800 tonnes/yr.

We also know that the Swiss sales will end this month so the current rate (if I am correct in my assuption above) of gold sales reflected in the Feb 25 report is well above the rate that is sustainable under the WA. Perhaps this higher rate of sale has created some pressure in the market as canamami suggested?

I do tend to think that most if not all of this gold is being rearranged and not sold into the so-called "free" market but yet it would give the perception of increased CB selling that would tend to depress prices.

Ned (3/4/05; 06:49:57MT - usagold.com msg#: 129847)
Massive spike in POG and resettling....
...job report not so good?

;)

Ka-Ching!

DoubleEagle (03/04/05; 01:28:12MT - usagold.com msg#: 129846)
Galearis & staying the course
Galearis, I know how you feel. I have long felt (even before I could articulate it, or knew such a place as this existed) that gold was true wealth. As a little kid, I wanted a cigar box full of gold coins. When it came down to it, it was hard to give up the fiat environment most of us were brought up in. I started buying at $305, and stopped at $375. At that point, I was happy with my stash, and have moved on to other positive things, mainly debt elimination. Still, with 90% of my savings in metals, I still watch the price, and hate to see it go down, even a little.

Sometimes, I think of "locking in profits." But always come to the conclusion that I would be trading something I control for something ultimately controlled by others. For the most part, I trust my credit union. I belive they'll be open tomorrow, and I can go down and get cash if I want to. But, what if they did not open tomorrow? The thought creeps me out enough to feel that my course is the correct one.

My worst fear is having to sell metal to pay for an emergency or a debt that is suddenly "called." My creditors seem content to accept their monthly payments now, but I think that might change if things go bad. Like a person, they will fight dirty to survive. So, I'm content to sit on my stash as-is, and for the most part I'm sucessful in ignoring it. Insulating it with fiat and getting rid of every penny of debt are the only things I care about now.

I'm kind of glad things haven't blown up just yet. Every month the system holds, I get stronger for the inevitable. I would wager this is true of most of the folks here, especially those who are accumulating.

-DoubleEagle (do wish I had twice as many of these, I will admit!)

Goldilox (03/04/05; 00:29:29MT - usagold.com msg#: 129845)
Bad link
http://www.commondreams.org/views05/0303-29.htm
Sorry about that!

Goldilox (03/04/05; 00:28:36MT - usagold.com msg#: 129844)
New Bankruptcy bill - from bad to worse
http://www.commondreams.org/views05/0303-29.htm http://www.commondreams.org/views05/0303-29.htm http://www.commondreams.org/views05/0303-29.htm
snip:

If you don't like [the chapter 13 feature of] the bankruptcy bill, try this one: You may have read of the hardship on the families of those who have been called to fight in Iraq, including, of course, severe financial stress leading to many bankruptcies. Democrats in the Senate tried to put an amendment on this bill exempting military personnel, and the Republicans voted it down.

Goldilox -

The banksters need to close the bankruptcy loopholes before there is a mad rush to the exits. Not unlike moving class action suits to more condervative federal courts "just in time" - when an inordinant number of "miracle" drugs are proving to be on the preferred prescription list of Dr. Kervorkian and company.

If one needs evidence of systemic failures, just watch how the big boys are closing the doors on all their Ponzi schemes, like SSI and corporate pensions.

Protect your family and your assets - you know the drill!



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