ARCHIVED DISCUSSION FROM 9/5/2002
All times are U.S. Mountain Time
(Yesterday's Discussion.)
Sierra Madre
(09/05/02; 23:54:44MT - usagold.com msg#: 84469)
A portrait from East Texas
I had a car breakdown today, and a tow truck came to pick up my vehicle and take it to repair shop. The driver and owner was skilful and soon we were on our way. I rode in the cab with him.
"How are things here?" I asked
"Very slow. I have another truck, a flatbed, but it's parked in the garage. Not enough business to pay someone to man it."
"That means people are not repairing their vehicles?"
"Right".
"How are they going to get to work, if they don't have a vehicle?"
"State Inspection is going up to $40 dls a year, next year. More stringent requirements on emissions."
"How are people going to make a living, if they can't repair their cars right now, and requirements are going to be even more stringent next year?"
"A lady that does the vehicle inspections, has three kids to raise on her own, has to spend $40,000 to get the new vehicle inspection equipment. Where's she going to get the $40,000? What's she going to do?" he asked.
He went on: " There's going to be more stealing, more uninspected cars on the roads. People have to work to eat."
I said: "Seems to me that there will have to be bribery at work, to allow the less fortunate to work."
As I sat and waited for my car to be repaired, I gazed at a pawn shop across the street. A young couple went in, with a little child holding a doll. "Lord, help that young family" I thought to myself. "What are they going to pawn? And what good will it do them? Keep the wolf away from the door for three days, or a week? And then - what?"
This is just the beginning of a terrible ordeal for Americans. And others throughout the world.
Lucky those few who can get some gold while it is attainable.
God help those who have nothing to fall back on - most people, in fact.
Sierra
kasperjack
(09/05/02; 23:51:47MT - usagold.com msg#: 84468)
Partial Reply to belgian
""The Gold industry can impossibly act against the CB's Gold cartel. Even if they wanted to.
Official goldreserves (30.000 tonnes) is the largest amount of Gold under a common umbrella.""-Belgian
The gold industry is taking on the CB's Gold cartel. They have stopped building mines. It is going to take an assured gold price of $350 gold and perhaps upwards to inspire the mining companies to start aggressively building out their gold projects. Of the five or six biggest miners, how many of them have recently built out or plan to build a significant number of projects? How many have cut their exploration budgets to the bone? How many are experiencing a decline in production? It is the central bankers who were forced to step up to the plate and supply the gold necessary to meet the excess demand. They are selling 400 tonnes or approximately 12 million ounces of gold to satisfy gold consumers. The gold miners have upped the ante and closed out 11 million or so ounces of gold hedges in the first half of this year alone. One mining company has even floated the idea of closing out their underwater hedge book. The miners know the gold price is below fair market value. They know they are cannibalizing their own productive capacity so as to ensure the survival of a few bullion banks that leased tonnes of gold at 1% and sold off that gold to the point where they can never buy it back without bankrupting themselves. They know that the economic aberration the CB's and the bullion banks have constructed is an artificial construct that is doomed. Gold production is declining. There is no supply of new mines in the pipeline at todays prices. The central Banks have no alternative but to allow gold to rise to a point where the miners can restore the gold business to a semblance of sanity.
Official reserves may be 30,000 tonnes but the CB's don't have 30,000 tonnes of gold in their vaults. Anywhere between 5000 and 15,000 tonnes(conservative estimate) of CB's gold have been leased by the gold carry trade and then sold off. Confabulations like deep storage gold have been floated to cover up the central bankers problems. Very shortly the CB's must almost double the supply of gold they are delivering to the market under the terms of WA. Sooner than everyone thinks....
Black Blade
(09/05/02; 22:46:02MT - usagold.com msg#: 84467)
New Graduates Job Prospects In Japan Grimmer Than Ever
http://biz.yahoo.com/djus/020906/0003000003_1.html
Snippit:
TOKYO (AP)--Despite signs that Japan's long-stagnant economy may be recovering, high school seniors' chances of finding employment when they graduate next April will be lower than ever, the Labor Ministry warned Friday. According to a ministry report, companies nationwide will only be hiring one new graduate for every two looking for a job. That is down from this year, when companies had 61 jobs for every 100 new graduates.
Black Blade: The growing "Bone Pile" in Japan. Hmmm…
Black Blade
(09/05/02; 22:35:57MT - usagold.com msg#: 84466)
New 19 Year Low on Nikkei
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B64BCF89C%2D6D02%2D47E2%2D8DD5%2DBCD022E6BCF9%7D
Snippit:
TOKYO (CBS.MW) -- The Nikkei Average sank 2.2 percent to a new 19-year low Friday morning after disappointing data raised concerns about the economic health of the U.S., Japan's biggest trade partner.
Black Blade: Plagued by a failing banking system, crumbling currency and loss of weaker export markets, the Nikkei 225 fell to fresh 19 year lows. Meanwhile precious metals hold up very well as a safe haven.
Galerider
(09/05/02; 22:16:15MT - usagold.com msg#: 84465)
RAIN IN TOKYO
Looks like the Powers that Be in the govt or the banks here are pumping money into stocks. At taxpayer expense. Govt pension funds buying stocks so that the banks will have a better report at the end of the month? They can't let the NIKEEI fall below 9000. 9047 at last recent count.
Gandalf the White
(09/05/02; 22:11:41MT - usagold.com msg#: 84464)
Yes, Sir Al --- You do make sense !
BUT, I and the Hobbits are trying to learn about all aspects of TECHNICAL things that will win the WAR to FREE GOLD. Perhaps, all these other areas are of great importance too, however, we admit that we know very little about the true feelings in the ME, (other than what is feed to us by the Media) and therefore understand less of that about which you speak. Will this further the CAUSE ?
Tks
GW
goldquest
(09/05/02; 22:00:16MT - usagold.com msg#: 84463)
Time To Open Up The NPRA
http://stage.agiweb.org/gap/legis107/npra.html
No need to keep this oil in reserve. Use it now! Let the ME countries battle amongst themselves. The oil could easily be routed through the Prudhoe Bay system, with possibly another parallel pipeline. Use our military to guard against sabotage and terrorism. No need to start WW3 because of greed!
Al Fulchino
(09/05/02; 21:53:43MT - usagold.com msg#: 84462)
Sir Gandalf
I see you can still jest, nevertheless what one man calls wisdom another may call something else.
What some see as a way to survival may differ in the view of another. And to not understand the Middle East properly is to bring about this country's death by blows delivered by wolves in sheeps clothing as well as those by stealth.
In times such as this even family members must be challenged.
kramrich
(09/05/02; 21:50:50MT - usagold.com msg#: 84461)
@Belgian
Thanks for the response to my query. I was hoping more would say what they thought might happen if the mining companies did hold back some of their production. I'm going to send a few emails out to the miners and see what they think.
Gandalf the White
(09/05/02; 21:45:25MT - usagold.com msg#: 84460)
<;-)
OR, --- IS that WISE ?
<;-)
Gandalf the White
(09/05/02; 21:42:36MT - usagold.com msg#: 84459)
Sir Al Fulchino
YES ! And you are one of the Wize Old Men !
<;-)
Al Fulchino
(09/05/02; 21:36:31MT - usagold.com msg#: 84458)
Sir Gandalf
I could certainly tie gold into why Cavan Man's Jimmy Carter is great for the need for gold. And also to Aristotle's thoughts of paying for oil instead of using a gun. But it would be somewhat confrontational. It is often thought that sharing ideas back and forth will ultimately win the day, but that is in the minds of self appointed reservoirs. The plates of the earth show us that as long as their are competing ideas there will be friction.
Regards.
sector
(09/05/02; 21:32:38MT - usagold.com msg#: 84457)
The Word "Black Mail" was used today by the President
The Iraqi War Hymn Book didn't mention that word until today
My wife sat back during the six o'clock news, looked at me and said "This is a set-up".
All over the world opposition is falling like rain on the Administration's leap to war.
The President knew it would. He must have had another, compelling reason to launch this adventure, knowing it would run smack into a brick wall of opposition.
So he has selectively released a new word for the propaganda hymn book as a clue... "Black Mail". IF he actually received such a threat, there would of course be a letter making demands including threat evidence to show to the World which would help to explain why he was angry and going to war. But why all the theatrics if this scenario is true? What a high risk adventure! What sheer entertainment! For fun:
Take a look at the regional map of Iran and Iraq from the point of view of an invading general setting up in Kuwait. Iran on your right flank, Saudi Arabia on your left, 12 million people in Iraq with 400 miles of bad road to Baghdad. No McDonald's on the way. Perhaps 1.7 million folks waiting there, maybe more. The noise about Iraq's Republican guard caving in? What would you do if there were no exit, No redemption, Your worst exiled enemies now in bed with the US? Did I mention the Israeli "catalyst"?
Your American forces must be diluted to guard your supply line...400 miles worth. If Iran decides to get into mischief, you must have a plan. 200,000 soldiers to invade Iraq? Subtract a large fraction for logistics and support, divide the rest by the distances from Kuwait to Baghdad and what do you have?
An out numbered, exposed army on a fool's errand. Perhaps this is why the military is united against this whole idea. Will they change their minds if black mail is the real reason? I don't think so.
If there is an attack on the US, the military will probably suggest retaliation in kind.
kramrich
(09/05/02; 21:30:05MT - usagold.com msg#: 84456)
Welcome Al Fuchino
Please challenge away. I for one like to hear all sides of
the arguement.
GoldCoaster
(09/05/02; 21:29:56MT - usagold.com msg#: 84455)
Birthday Contest$$$334.7$$$
oops!
misetich
(09/05/02; 21:26:24MT - usagold.com msg#: 84454)
U.S. Economy: Growth in Service Industries Slows
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_bfgcgi_content99.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APXe8gxREVS5TLiBF
Snip:
By Siobhan Hughes and Monee Fields-White
Washington, Sept. 5 (Bloomberg) -- The U.S. services industry, the largest part of the economy, grew last month at the slowest pace since January amid signs that consumers are paring spending.
The Institute for Supply Management's index for retail, construction and other non-manufacturing companies fell to 50.9 last month, close to the level of 50 that separates growth from contraction. August's reading was lower than the 53.1 in July and the weakest since it was 49.6 in January.
The growing prospect of a U.S. attack on Iraq, weakness in stock markets and the unwillingness of companies to resume hiring has driven consumer confidence to a nine-month low. Retailers are starting to see a slowdown in spending, which accounts for two- thirds of the economy.
**********
Misetich
Unemployment is rising, retail sales stalling, manufacturing still way below average - excess capacity - inventories rising
The "economic world engine" is going in reverse - and its pulling the rest of the world -US dependent - along with it
Got gold?
Gandalf the White
(09/05/02; 21:19:42MT - usagold.com msg#: 84453)
COME ON Sir Al F. Stop testing and let it happen !
Al Fulchino (09/05/02; 21:11:23MT - usagold.com msg#: 84451)
test
===
OF COURSE, you were speaking about GOLD misconceptions, YES?
That is the only thing spoken about HERE !
<;-)
Galerider
(09/05/02; 21:15:15MT - usagold.com msg#: 84452)
TOKYO WEATHER
Still raining in Tokyo and the NIKKEI keeps falling. -204.8 at last count. NIKKEI hanging in there at 9017.
Al Fulchino
(09/05/02; 21:11:23MT - usagold.com msg#: 84451)
test
I see some misconceptions being fostered here. I may need to challenge them.
misetich
(09/05/02; 21:10:08MT - usagold.com msg#: 84450)
Shiokawa says fiscal steps alone can't help stocks
http://www.forbes.com/newswire/2002/09/05/rtr714348.html
Snip:
TOKYO, Sept 6 (Reuters) - Japanese Finance Minister Masajuro Shiokawa said on Friday the government was not considering an extra budget but that each economy-related minister would review what could be done to help strengthen the economy.
"It's not something that can be resolved by fiscal measures alone," Shiokawa told a news conference, when asked what the government would do in reaction to a fall in the Tokyo stock market's Nikkei average to 19-year lows this week.
"We are not considering an extra budget or any special measures," he said.
...........
**********
Misetich
From continent to continent world leaders seem to say 'abandon ship'
Got gold?
Black Blade
(09/05/02; 21:06:09MT - usagold.com msg#: 84449)
Mixed Market Signals
http://www.mrci.com/qpnight.asp
Gold and Silver are higher tonight, Petroleum prices are rising on war fears, the USD is falling against other currencies, the US market indices for some reason and higher - probably on institutional buying (propping up?), and the grains are generally higher as the drought in the US, South America, Australia and Asia are sapping stored supplies and crops wither away into the dust as this "New Dust Bowl" takes hold. The US midwest is suffering through the se4cond and in many areas, the third year of severe drought. For many areas the crop is destroyed or simply nonexistent. Get prepared at the very least - it's "cheap" insurance and so far there has been no relief. Besides, it is too late in the year for any late crops should sufficent rain return. besides as unemployment risies it is a good idea to prepare with a food storage program to offset one more cost.
- Black Blade
misetich
(09/05/02; 21:05:44MT - usagold.com msg#: 84448)
HMO Premiums Jump Nearly 13 Percent -About 39 million Americans lack any health benefits, and the weak economy -- coupled with rising healthcare costs -- is exacerbating that problem, the report said.
http://www.washingtonpost.com/wp-dyn/articles/A41160-2002Sep5.html
Snip:
By Kim Dixon
Reuters
Thursday, September 5, 2002; 2:52 PM
CHICAGO (Reuters) - Health insurance prices jumped 12.7 percent over the past year, the biggest hike since 1990, as insurers wrestled with soaring health care costs while pleasing investors with record profits, according to a survey of employers released on Thursday.
Big Fortune 500 companies and smaller firms alike are skimping more on health benefits, and more are opting not to offer health insurance at all. Employers said they cannot carry these costs on their own and are passing more costs to employees, a trend likely to escalate in the future, the survey said.
"What seems clear is that employees are likely to pay more for health benefits and health care in the future," said Larry Levitt, vice president of the Kaiser Family Foundation, which released the annual poll of big and small employers' health benefit plans.
**********
Misetich
Consumers are being squeezed by rising service costs/health/property taxes etc.
Sooner than later the "consumer bull" that has fuelled the excess of the 90's - debt based - will come to an end
Got gold?
Aristotle
(09/05/02; 21:04:24MT - usagold.com msg#: 84447)
Anyone ever wonder what happend to this novel idea...
"We need the oil, therefore we will PAY for it." ??????
I never did think highly of the punks who go around the streets "shopping" at the point of a gun.
'Know thyself' is, I suppose, what it will never boil down to. Excuses are too easy to manufacture.
Gold. Earn you some, along with everythin else. --- Ari
Gandalf the White
(09/05/02; 21:02:42MT - usagold.com msg#: 84446)
HAIL Sir GoldCoaster !! Please note my comment. <;-)
GoldCoaster (09/05/02; 18:41:14MT - usagold.com msg#: 84433)
Birthday Contest
$$$334.75$$$
===
WELCOME there Sir GoldCoaster !
But please don't NICKEL me --- YOU must DIME me !
Lots of room where you are thinking, so please try again,
Tks
<;-)
misetich
(09/05/02; 21:01:19MT - usagold.com msg#: 84445)
Stalling Sectors Roil Wall Street
http://www.washingtonpost.com/wp-dyn/articles/A33759-2000Jun21.html
Snip:
On Tuesday the Institute for Supply Management reported the manufacturing sector of the economy is barely growing at all.
Wednesday, Commerce Department data showed the construction industry has stalled out.
Today two reports revealed the services sector is expanding more slowly than expected and chain store sales are falling short of projections.
Only auto sales and housing are holding up. And analysts are anxious about August's auto action, because cheap deals enticed family groups into the showrooms. Car buyers are so hooked on incentives that General Motors, which canceled its 0 percent financing only last month, has been forced to bring it back. Although Detroit is on the road to one of its best sales years ever, profits are being hurt by the costly inventives.
********
Misetich
Housing and cars bought on debt -
Stocks are way overvalued not reflecting economic reality -
US $ does not reflect economic reality
A substantial correction in both can be expected
Gold - get some
Got gold?
mikal
(09/05/02; 21:00:57MT - usagold.com msg#: 84444)
@Cavan Man
I'll listen to anyone that can wake even one brainwashed American to the evil of our modern "wars", even a CFR boy. So many scores of American interventions, let alone wars, this past century incited by popularized paranoia and self-rightous bigotry against one race after another, one country after another, one religion after another. And to think American soldiers answer more to Tony Blair and kin than our US puppet officials or brass. Just another reason why, in a hierarchy out of touch and out of control, incompetence accompanies disorder and eventual dissolution. The dying world financial system is then succeeded by an innovative transformation in the institutions that nurtured and supported it- religious, political, financial, educational, social, etc.
silvercollector
(09/05/02; 20:58:30MT - usagold.com msg#: 84443)
Please check Brett Woods msg # 84417
From this please also recall the last Arab 'summit' whereby " ...an attack of an Arab state will be considered an attack of all Arab states........."
I sincerely believe an assault in Iraq will be devastating, America must consider the consequences. A handful of posters have suggested that 'we need the oil, therefore we will take it'. I also believe the Middle East oil producing countries have awakened to the fact that America needs cheap oil and may stage an invasion of Iraq under false pretenses to fulfil such needs. They also realize that their oil is worth more that the fiat US dollar and day-by-day oil increases in value because of the depreciating fiat currency that buys their oil.
America is losing allies in the 'terrorism' strike of Iraq because an ally of the US, in this regard, may cause repercussions. The fight, brought into full view since 911, is between the US and Iraq and possibly Iraq's allies. Why cut oneself from oil supplies and/or instigate terrorism possibilities supporting a fight that is not yours?
You see, the US is in this one alone. Germany, perhaps the most vocal, has warned the US not to invade Iraq. It will be a US vs. all Arabs and Europe in particular does not want this fight. Why would they?
More...........
Black Blade
(09/05/02; 20:55:34MT - usagold.com msg#: 84442)
Asia Starts Off Ugly
http://quote.yahoo.com/m2?u
The Nikkei has already gone sub 9,000 and now bounced along just above. It appears that Asian markets will be under pressure all night as the news is not good. Exports will be searching for a market as Americans and Europeans apparently cut back on spending. Looks to get "entertaining" in overnight markets, and it will likely get worse if tomorrows US unemployment data is as grim as many expect.
As always, get out of debt (as soon as possible), stash enough cash for several months expenses, accumulate Gold and Silver portfolio insurance, and start a storage program for nonperishable food and basic necessities.
- Black Blade
Black Blade
(09/05/02; 20:40:03MT - usagold.com msg#: 84441)
Economic 'triple whammy'
http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_1375124,00.html
Recession, scandals, terrorism take toll, economist says
Snippit:
The economy has been hit by a "triple whammy" of recession, terrorist attacks and corporate scandal, economist Tucker Hart Adams said Wednesday, creating "the most uncertain time that I have ever seen." Adams, the regional economist for US Bank with 25 years' experience, isn't predicting much better times ahead. Her 2003 economic forecast -- what she calls her "informed hunch" -- calls for modest economic growth of 2 percent to 2.5 percent but continued weakness in many key economic sectors. In short, things won't get much worse, but they also won't get much better. "I would love to be wrong," she said at a packed breakfast meeting with US Bank clients Wednesday morning. "But I tell you, I wouldn't bet the ranch on it."
Black Blade: Second thoughts in the banking community? I will come right out and say it – It will get worse and there's no doubt about it. There won't be any economic growth either. Economists blew it big time when the revised GDP data was released a couple of months ago. They scoffed at those of us who said that there is a recession and that its was worsening. Now they are eating crow of course and they are for the most part keeping a low profile. Yet others come out in their place to appear on the day-long infomercials (CNBC, CNNfn, and Bloomberg) to push the "buy" buttons and to "put lipstick on pigs".
Black Blade
(09/05/02; 20:38:46MT - usagold.com msg#: 84440)
Crude Oil Rises After Report Shows Decline in U.S. Inventories
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_bfgcgi_content99.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APXd1KRXkQ3J1ZGUg
Snippit:
New York, Sept. 5 (Bloomberg) -- Crude oil rose after the American Petroleum Institute said U.S. inventories fell close to an 18-month low, spurring concern that supplies are inadequate at a time when the U.S. may be preparing to attack Iraq. ``We've been seeing some nice draws in stocks in recent weeks,'' said Juha Laiho, a crude-oil trader in Houston for Finland-based Fortum Oyj. ``With the recent headlines about Bush and Iraq you have to take the inventory numbers more seriously.'' U.S. crude-oil inventories fell by 6.28 million barrels, or 2.1 percent, to 298.9 million barrels in the week ended Friday, the institute reported late yesterday. Inventories fell to 295.6 million barrels in the week ended Aug. 9, the lowest level since March 2001.
Black Blade" That's quite a drop in oil inventory at a time of war preparations in the ME. The question is whether that drop in inventory due to a rapid build up in the SPR for a more immediate attack on Iraq than many suspect. Hmmm…
Black Blade
(09/05/02; 20:37:16MT - usagold.com msg#: 84439)
Wal-Mart, Target Say Sales Were Less Than Forecast
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_bfgcgi_content99.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&middle=ad_frame2_topfin&s=APXd3fRRwV2FsLU1h
Snippit:
Bentonville, Arkansas, Sept. 5 (Bloomberg) -- Wal-Mart Stores Inc., Target Corp. and May Department Stores Co. said August sales were less than forecast as shoppers' frugality squeezed discounters as well as full-priced chains.
Black Blade: A slowdown in consumer spending has now hit the discounters. It has been the consumer that has propped up the economy – even according to the infomercial touts on CNBC and government economists. It is a bit hard for them to do a 180 and spin a different line now.
Black Blade
(09/05/02; 20:36:05MT - usagold.com msg#: 84438)
Army Has Doubled War Stocks in Kuwait
http://dailynews.yahoo.com/news?tmpl=story2&ncid=716&e=3&u=/ap/20020905/ap_on_go_ca_st_pe/us_iraq
Snippit:
WASHINGTON (AP) - The Army recently doubled the size of its war stocks in Kuwait to accommodate a little-noticed expansion of U.S. armored forces at a base near the Iraqi border, officials said Thursday.
Black Blade: War preparations continue. I heard that B-52 bombers have been deployed to Diego Garcia in the Indian Ocean and US warships are being readied to set sail to beef up the fleets in the Persian Gulf and the Med. Surprisingly I had heard that US troops are also in Qatar, Bahrain, Jordan and Syria for "exercises". Hmmm… "Interesting Times"
Black Blade
(09/05/02; 20:34:22MT - usagold.com msg#: 84437)
Arab League: Iraq Strike Would 'Open Gates of Hell'
http://www.reuters.com/news_article.jhtml?type=worldnews&StoryID=1414869
Snippit:
CAIRO (Reuters) - Arab League chief Amr Moussa said Thursday a strike against Iraq would "open the gates of hell" in the Middle East, and urged Baghdad to readmit weapons inspectors in coordination with the United Nations.
Black Blade: Oh my, not the dreaded "gates of hell"!
Cavan Man
(09/05/02; 20:03:30MT - usagold.com msg#: 84436)
Jimmy Carter: A voice of reason
Read his letter in the Washington Post. Link to be found at Drudge. He is absolutely right on all counts IMHO.
Cavan Man
(09/05/02; 20:01:24MT - usagold.com msg#: 84435)
Roger the Shrubber
Can the largest tree in the forest be cut down with.....a herring? What say ye man?
jlfletc
(09/05/02; 19:57:39MT - usagold.com msg#: 84434)
Guided
Amen to what you said! It's easy to snipe from the cheap seats about what our leaders have done, or should do, etc. etc. Seems like there are a few from out in left field around here....
GoldCoaster
(09/05/02; 18:41:14MT - usagold.com msg#: 84433)
Birthday Contest$$$334.75$$$
I like Gold for all the reasons already mentioned and because for once in my life I'd like to be amongst the top of the heap which I already am with my physical holdings.
Galerider
(09/05/02; 18:35:24MT - usagold.com msg#: 84432)
RAINY IN TOKYO
The market is starting out like the lousy weather we're experiencing this morning. -156.10 as of now. Will we head below the NIKKEI 9000 mark? Today's a good bet. I guess we'll break the 19 year low mark. It's Friday here. Looking forward to the weekend to gather thoughts and hatch crash protection strategies.
Buena Fe
(09/05/02; 18:18:36MT - usagold.com msg#: 84431)
cyberbat
"w" babbles about war cause the "enemy of ten" is close to finishing their deed. behind the scenes the us $ game is over, system #8 is ready to assume its role. it is a last gasp attempt to survive (a cornered cat), this time intimidation will not work (or be allowed).
IMS but HO.
sector
(09/05/02; 15:57:47MT - usagold.com msg#: 84430)
Utah Army Sarin Depot Intruder Escapes
Detected inside the perimeter of an area...
...designated as the highest possible security...so where IS the guy?
It was broad daylight. There is nothing but scrub grass around the bunkers. The locale was chosen, among other things, for its ABSENSE of cover.
My, my, my! Maybe Al Qaeda has discovered a new cloaking suit. That guy COULD have gotten away with numerous canisters of very bad nerve gas! Sound the alarm!
We should start a lottery that sarin or an analog neuro toxic agent will be used in NYC next week.
IF such an amateurish stunt should occur, nooooo-one will buy it.
The current opposition will smell a rat in ...well...a New York minute.
goldquest
(09/05/02; 15:55:05MT - usagold.com msg#: 84429)
Greenspans Speech
http://www.federalreserve.gov/boarddocs/speeches/2002/20020830/default.htm
at Jackson Hole.
Excuses, excuses, excuses! No answers!
Operative
(09/05/02; 15:51:00MT - usagold.com msg#: 84428)
That Feeling
There is a particular feeling I get in my stomach the exact moment a plane loses touch with mother earth. It lasts but hundredth of a second and then is gone, but it always happens every time I fly. It's not fear, nor anxiety, but best described as excitement, that an adventure has just begun. Today, I turned the computer on after having been away for the long weekend, and when I seen the price of gold, I got that feeling.
@ Belgian, glad your "home" and writing once again.
@ All, Thanks for the reading material, some very good posts of late.
mdgc
(09/05/02; 15:45:42MT - usagold.com msg#: 84427)
The Happy Birthday GOLD PRICE SETTLEMENT CONTEST
$$$$ 349.2 $$$$
when gold pops thru the $325/330 peaks of last July and Sept/Oct 1999 it will reach the 350 range quickly
Believer
(09/05/02; 15:40:37MT - usagold.com msg#: 84426)
$398
That COULD be
just one REALLY GOOD WEEK! Right?
Think BIG in a little time.
Belgian
(09/05/02; 14:59:50MT - usagold.com msg#: 84425)
@ Kramrich
All central banks (CB) with goldrserves are actors in the Gold cartel. All CBs are constantly intervening as to manage their currency's exchange rate and its repercussions on the state's economy. So, intervention is a very normal activity and many cartels, in the broader sense of the word, are business as usual. That's why "we, Gold-Advocates", call, Gold's status *UNFREE* ! The De Beers diamond-cartel was tolerated as are many other, less known (outspoken), cartels or monopolies. The most popular (now infamous) cartel is OPEC.
This as an introduction to some reflection on your question.
The Gold industry can impossibly act against the CB's Gold cartel. Even if they wanted to. Official goldreserves (30.000 tonnes) is the largest amount of Gold under a common umbrella. The pro-fiatists ! The gold industry can only (free to) occupy itself with Gold (its product) as the *commodity* and NOT as the monetary asset. The gold industry (miners) cannot start a global campaign (and actions) against fiat and promote Gold as an alternative for paper-money. Just imagine any kind of commercial that is bluntly saying that all fiat isn't but confetti and that we all should rush for physical Gold in possession !!!
Sales of official reserve-gold are always done in a very specific framework. It is never offered as an alternative for fiat (confetti) under the form of bullion bars for investment. This as to not provoke any massive movement of wild Gold hoarding fever. BTW, Sir Knall gold...don't worry about your kilograms, especially when you diversified with a mixture of coins, as you mentioned.
The past and present Gold-wars are nothing more than periodic struggles between the different CBs, within the Gold cartel . Cfr. OPEC's disputes ! As for oil and gold-reserves, the general public will never know what the different agendas of the different cartel members are. So we have to keep speculating on this part of the drama.
Most of the time, nothing seems to be what it is. And how can we possibly trust any statistics on oil from Russia or the M.E. The same is true for the different gold-reserves and the respective CB owners their intentions with that Gold.
But...
As long as "physical" Gold is freely available to take into ones possession, all over the world...there is a certain risk that a disruptive goldrush might castrate the Gold cartel. The goldminers are too vulnarable to get such a goldrush organised. Us, western lilliputan Gold hoarders can easely be influenced in our perceptions and Gold deeds with the overpowering impact of POG (manipulation). That is different for sophisticated Gold Giants. Cfr. currency pirates à la Soros and others. But even they have to comply with the financial fraternity's rules and customs.
Iraq wanted a 21$ POO in 1990. You know what happened. Same goes for anyone who should dare to challenge the almighty Gold cartel, openly and publicly. That's why Buffet and tutti quanti (exclusively americans), populized (relative) harmless silver and NOT Gold ! This imvho of course.
Sir Kramrich, Gold has such a long history of utmost importance that it is unthinkable that any bucaneer can enter this Golden ship with much poehaa. Gold must ba boarded with sub waterline methods. Read stealth and subtle accumulation .
Allow me to repeat that it is the extreme low pricing of the valuable Gold that is indirectly evidence for its present importance. How paradoxal this might sound.
TG once said that one should not look at things from outside > inside but the other way around ! Believe me Sir, it took me also quite a lot of study time to aqcuire some understanding on this (rather simple) Gold matter.
When one studies the caracter of any "cartel", it becomes much easier to gain some more understanding on what is happening to Gold and where it will most probably end.
OPEC is the best case to study and find similarities with the Gold cartel. And in my vieuw, any cartel is a priori a conspiray, but not necessarely an evil one.
Once the coming dollar-flight can't be stopped anymore...the cartel will shift into another policy and abandon the past targets. But as long as those 30.000 tonnes remain in the vaults of central banks (any CB)...there will be a Gold cartel. Fiat will always be re-invented and Gold will always be there as a precious commodity and as "the" only monetary asset.
And a last note on those miners. If major miners are in the know of the very high probability of a much higher POG in a not too distant future...why should he bother not to exhaust his high grade ore, during the transition period ?
And ad repititum, the present 2.500 tonnes of yearly new mined Gold, declines every year in importance against the growing stash of aboveground refined. And as Cavan Man illustrated, 2500 tonnes is most probably a high in the historical increase of mined Gold ! All the best to you Sir Kramlich.
Waverider
(09/05/02; 14:58:09MT - usagold.com msg#: 84424)
DAILY GOLD MARKET REPORT
http://www.usagold.com/DailyQuotes.html
Excellent! Added here so it won't be missed!
Black Blade
(09/05/02; 14:55:19MT - usagold.com msg#: 84423)
Re: CoinGuy
The PM action is picking up from what everyone I know tells me. The threat of war and the deterioration in the global economy has put a fire under physical bullion sales. Meanwhile, I will call a couple of people I know later on and try to find out about the "intruder alert" in Utah. They are military so they may not be allowed to discuss it. But it does show how skittish people are.
I am just about to go out in a couple of minutes to wait for a nice bull to bed down this afternoon, however, since it's close by I will take a side trip to the gym first. I've seen a lot of elk, but they are on private land. Lots of white tail and muleys too. I hope to stock up on mammal flesh as last year's supply is running a bit low.
Cheers!
- Black Blade
off to the gym!
The CoinGuy
(09/05/02; 14:43:36MT - usagold.com msg#: 84422)
Black Blade
Excellent afternoon Report!
I completely concur with your last sentence. I usually make my purchases in August. In times past, there was a seasonal slowdown late summers, and I'm used to getting a good buy. But when I made my purchases this year, most dealers were very busy. One comment from a good friend, "I haven't seen activity like this since Y2K, and were in August".
Deer Season(Bow) 10 days and counting...Will be in Colorado this fall to "as you say" slay an elk myself. Got skunked last year...
The CoinGuy
Black Blade
(09/05/02; 14:10:27MT - usagold.com msg#: 84421)
Gold Moves Higher Again
Gold is moving higher again in after hours - bouncing on $320 an ounce. A lot of dismal economic news and strange occurances in global news. The Karzai assasination attempt and the "intruder alert" on a US military bio and chemical warfare storage facility. Air strikes in Iraq's southern "no-fly" zone, etc. Most is covered in today's "Daily Gold Market Report".
Petroleum prices are also moving higher in a replay of events seen in the 1980's and 1990's. History does repeat and during those times gold and oil spiked much higher. Looks like a repeat to me.
- Black Blade
Carl H
(09/05/02; 13:58:32MT - usagold.com msg#: 84420)
Reuters: Fed's McTeer-U.S. recovery has been jobless
http://biz.yahoo.com/rf/020905/economy_fed_mcteer_2.html
To paraphrase, if you have soaring productivity, who needs jobs. Too bad the prodictivity increase is a myth resulting from the way increases in computer performance are accounted for in the calculation.
Got Gold?
kramrich
(09/05/02; 13:55:40MT - usagold.com msg#: 84419)
U.S. troops kill Karzai attacker - officials say
http://in.news.yahoo.com/020905/137/1uu1q.html
WASHINGTON (Reuters) - U.S. special operations troops
guarding Afghan President Hamid Karzai shot dead at least one
attacker who apparently tried to assassinate Karzai in Kandahar
on Thursday, U.S. defense officials said.
The U.S. Central Command said in a statement from its
headquarters in Tampa, Florida, that one U.S. soldier was
slightly injured in the attack and was being treated in
Afghanistan following the failed attempt.
Afghan officials said Karzai survived the assassination attempt but that one U.S.
Army Special Forces soldier and the governor of the Kandahar, Gul Agha Sherzai,
were wounded.
President George W. Bush welcomed word that Karzai, a close ally in the U.S. war on
terrorism, was unhurt. "The president was informed and expressed his relief that
President Karzai was unhurt," said White House spokeswoman Claire Buchan.
The incident followed an explosion earlier in the day in the capital Kabul that killed at least 15 people.
The United States, which overthrew Afghanistan's former Taliban rulers after accusing it of harboring the militant al Qaeda movement
behind the Sept. 11 attacks, has strongly backed Karzai as the new leader.
Bush has called for a massive international effort to rebuild the country, devastated after decades of fighting, but has been reluctant
to expand the international peacekeeping force there as urged by Karzai.
The United States has about 8,000 troops in Afghanistan, pursuing operations to track down Taliban and al Qaeda fighters. It does not
contribute to the peacekeeping force.
A small, elite U.S. military force was assigned to guard Karzai in late July after reports that al Qaeda and Taliban remnants might
attempt to assassinate government leaders.
Fifteen U.S soldiers were assigned at that time to provide around-the-clock security at the presidential palace alongside Karzai's
existing bodyguards from the Northern Alliance, the most powerful faction in his coalition government.
U.S. Defense Secretary Donald Rumsfeld said when the move was made that the security job for American soldiers could last several
months.
Thursday's attempt came ahead of a planned transfer of that protection from the U.S. military to special guards supplied by the U.S.
State Department.
Kramrich: It looks like things might be getting out of control in Afghanistan. Bombings, attempted assasinations, and a call to jihad by an anti US general in Afghanistan.
Guided
(09/05/02; 13:55:15MT - usagold.com msg#: 84418)
Big IQ's
Amen to that White Hills. Big IQ's with no wisdom to go with it spells TROUBLE. Seems like the kind of people who cooked up some of this financial mess we're in. You know, the one's who call gold a barbarous relic.
I thank God we have a leader in GW that knows his job is way too big for any man. He looks to a higher authority for wisdom and has made no secret of this. He also seeks the wisdom and counsel of other wise leaders around him. Like his father and his cabinet and I'm sure many other great men and women of integrity.
Far from perfect but I can think of some alternatives that are just plain scary right now.
Brett Woods
(09/05/02; 13:54:58MT - usagold.com msg#: 84417)
***
More than 100 MPs from all Arab states except Kuwait and Saudi Arabia capped a meeting in Baghdad Wednesday by opposing the threat of U.S. military action against Iraq and calling for lifting U.N. sanctions imposed on Iraq for its 1990 invasion of Kuwait.
"The union rejects and strongly condemns American threats and preparations to wage a war against Iraq," said a communique issued after a two-day meeting called by the Arab Parliamentary Union.
President Saddam Hussein reportedly addressed the Arab Parliamentary Union saying, "Your brothers in Iraq wish that God would spare them evil and avoid fighting,... If God chooses that we have to fight, we won't disappoint you,... We will fight them in a way that will please you and annoy (the) enemies."
He did not elaborate.
***
White Hills
(09/05/02; 12:55:26MT - usagold.com msg#: 84416)
Sierra Madre, Zbig interview
Zbig may have a big IQ but no sense. Lets just do nothing and wait for the next 9/11 while we are trying to convince the Euros and the UN, who are not in danger of an attack, that we have the evidence that Iraq is fueling terrorism and developing Nukes and other nasty weapons. Maybe the New World order isn't something we should even be involved with. Let some other sucker be the leader for a change and pay the world's debts and we can set back and watch the show. Gee, there must be some reason that the peoples of the world are beating down our borders trying to get in.
White Hills
VanRip
(09/05/02; 12:20:50MT - usagold.com msg#: 84415)
$$$$ 317.9 $$$$
Gold is probably my best insurance "policy." Among other things:
1. It's not a paper document riddled with if's, and's, but's maybe's and legal terms. Nothing to interpret or worry about with gold.
2.Insurance companies may not pay up when disaster strikes. Or they may pay a little or a lot only after a long, stressful battle. Don't have to worry about that with gold.
3. Gold will never go out of busness, which is what some of my insurance companies may do.
4. Once you have i t, you don't have to pay something extra for it every few years, which seems standard for auto, house, flood and fire insurance.
5. And it always draws ooohs and aaahs from family members when it is displayed. Can't say that for my other policies.
kramrich
(09/05/02; 12:13:29MT - usagold.com msg#: 84414)
A trigger for gold price?
I have a question for the forum.
How would investors view an OPEC like cartel in which the gold mining companies hold back say 10% of their production annually as an asset (better than cash) on their books?
1) Gold still mined and above ground therefore no price change.
2) Or decreased physical supply much like the Washington Agreement and then a large spike in gold price.
3) Or something else. ( any thoughts?)
I believe choice #2 is a good one. Seems to me there is resistance to POG passing thru 330-350 range. An announcement by the mining companies that they will begin to withold physical gold from the market would be explosive for the POG. More than enough to pass thru any road blocks particularly in the current state of the world's economies. Some miners may say that they don't have the operating capital to hold back 10%, but the resultant price spike would make up the 10% in revenue and some to boot! Goldcorp (GG) is already doing this now. I'm sure some of the non-hedging miners have already considered the above. Anybody have knowledge of the antitrust laws and how they might affect an agreement between the miners to hold back production? Seems to me that POG needs a spike to pass thru the road block so the "sellers" will throw in the towel. This may be a solution.
Carl H
(09/05/02; 10:55:32MT - usagold.com msg#: 84413)
Reuters: US Airways allowed to walk away from 67 planes
http://biz.yahoo.com/rc/020905/airlines_usairways_judge_1.html
Definitely a sign of a healthy or improving economy...NOT...
Got Gold?
sector
(09/05/02; 10:38:14MT - usagold.com msg#: 84412)
@Spartacus - What are Gold Swaps?
They are Central Bank Tools...
...designed to allow numerous banks to "Trade" their paper back and forth for the temporary use of paper gold [The "Swapped" gold].
The received swap is then sold in to the paper gold market [COMEX] for the purpose of suppressing pog. Various "Carry trades" can develop during a prolonged downward gold price spiral.
IMF rules allow BOTH Central Banks to claim they EACH still own the swapped gold. This effectively hides the transaction in the same manner that Mahonia's "Loans" hid Enron's debt.
It is important to appreciate that using similar stealth, the Central Banks also are hiding massive losses where they have loaned or swapped somewhere around 12,000 to 16,000 tonnes of their gold. It all has been sold into the market or is being carried as underwater derivatives by bullion banks and dealers. These dealers actually hold the liability since the physical metal [In most cases] resides in the original vaults.
The trip-up happens when the price of gold rises as it is. The derivatives go so far underwater that ratings agencies look to downgrade debt and then the Central Bank's risk management committees look to pull the plugs on the derivatives.
Pay attention to ratings agencies actions against bullion banks with gold derivatives.
BTW Virgil Mattingly, Alan Greenspan's Chief Counsel, revealed in the Feb 1995 FOMC minutes that the US had swapped gold. This transcribed admission [Which participants initialed as approved], in which he later claimed amnesia or being misquoted in an August 2001 press release, confirmed that the United States Government officially manipulates the price of what lawfully [CFTC ACT 1974] is a freely traded commodity.
There are several other references to gold swaps and "swap puts" in the FOMC approved transcripts [See "Swapping Lies" at http/www.goldensextant.com].
Sierra Madre
(09/05/02; 10:13:51MT - usagold.com msg#: 84411)
Larry Williams interviews Zbig Brezinski last night...
I think Zbig has an I.Q. about 60% higher than GWB.
Said some intelligent words. In essence, (not in his own words):
Iraq is defying the UN; but, the USA cannot behave like Iraq and make war on Iraq in defiance of UN (world opinion). (My opinion: to do so would make the U.S. a "rogue state", as independent states are now called. It's OK to be a "rogue state", IMO, but don't expect to occupy the place of leadership in that case.)
If the US does so - and it can, as Congress and the US public will back the President if he decides on war with Iraq - then the US will be disrupting the whole world order as presently established. Zbig was EMPHATIC on the absolute necessity of obtaining international consent and approval before initiating any hostilities. Not to do so would bring on disastrous international consequences!
My opinion on the above:
Leadership means, leading OTHERS. Leadership is not a "go it alone" attitude, nor a macho attitude.
US leadership - which it wants and needs to retain - requires CONVINCING other States that it is in their interest to have Saddam Hussein ejected from power and Iraq subjugated. That would be true leadership. Not a "Lone Ranger" approach which GWB seems to like.
Zbig stated that there is NO EVIDENCE that makes a war necessary. If the USSR and China were kept well dissuaded from aggression for decades, certainly Iraq can be kept under control and there will be nothing to fear from any Iraqi aggression.
Zbig is a BRAIN, no doubt about it, and speaks wisely.
Sierra
Knallgold
(09/05/02; 10:12:48MT - usagold.com msg#: 84410)
Belgian #84324
Thank you for your reflections!I always enjoy it to follow your thoughts.
"The rumor that CBs should be prepared to
accept fiat (settlement) for their lost (?) goldreserves is more of the same fiat-advocacy !!!"
I also noticed the London connection...
What I'm starting to realise is that with the coming super-re-valuation of Gold,my portfolio consists probably of too much large pieces.I mean if you go to a bank with your 1ounce coin to free some cash for your living,and they give you 20'000 "Fränkli"-it could bring you into a) safety problems b)bureaucratic reporting requirements c)general suspicion d) tax stuff etc.
Nevermind that with a kilo bar...when I bought my first Gold about 4 years ago I bought as large (mostly bars) as possible because of the cost.But now I'm changing on this.
So I started with buying 1/10oz coins (they're so cute) and the pre33 stuff which comes in reasonable sizes.Maybe I will keep the large pieces for a lifetime,only exchanging the small stuff.But then,I'm not sure if I even could sell a coin,I just guess it will be necessary sometime...
cyberbat
(09/05/02; 10:08:31MT - usagold.com msg#: 84409)
@ Buena Fe
please tell me more on your speculation. That is very interesting, particularly about bonds. Why no war ?
Trurl
(09/05/02; 09:33:57MT - usagold.com msg#: 84408)
$$$$ 308,00 $$$$
I accumulate gold since its not somebody elses' lies. Lies is of course slang for liabilities.
Actually, to quote Trurl from the book *The Cyberiad* by Stanislaw Lem, "I love my gold, D*mmit"
MK
(09/05/02; 09:30:53MT - usagold.com msg#: 84407)
Far from Regular Morning Update
Marie and Jill tell me that a number of clients have called to say that they miss my morning observations on the gold market. I do not plan to do these on a regular basis anymore (particularly in light of the fine job Jon Warner has done in getting out the real gold news), but the current trends -- up, down, far and wide -- inspired the attempt at clarity published below. I hope you gain from it.
Good luck to all our contestants. I am amazed at the level of participation. It is truly gratifying for us to see the number of readers coming forward to let us know we in fact do have an audience. I want to again thank our fine group of regular posters who make this such an interesting place for new, regular and veteran gold owners to visit.
HAPPY BIRTHDAY USAGOLD!!
- - - - - - -
"There are still a lot of bad things going on in the world. There is little reason why gold should be materially weaker." Anonymous New York gold trader
- - - - - - -
Gold tracked higher this morning with bullion bank and hedge fund buying the chief feature, according to London traders. Translated, what the London traders are trying to tell us by code is that the bullion banks, hedged mining companies, and strung out hedge funds are looking at a whole host of factors pushing behind the gold price and opting to cover now rather than later. As they say in the trading business "Better to be a day early than a day late. Better yet, let's get the jump on our competitors and come in three days early when they're not looking." And that;s what defines today's action. We are seeing more and more of this first man to the door routine as we go along and that in itself has become a market factor to be reckoned with. At one point this morning, gold traded above the $320 level before the usual suspects showed up to knock it off its pedestal.
So what are the factors pushing hard at the gold price and worrying the gold bears? Let's start with Arab buying. It's difficult to leave your money in a New York money center bank when the lawyers are pounding on the doors with legal suit in hand. Then you've got the prospect of war in the Middle East and what that might do to the oil price. No matter how many times the Saudi's tell the world they will step up production to stem a supply crisis, it is difficult for rational investors to blot out visions of sunken ships clogging up the Straits of Hormuz, oil field fires, pipelines blown to smithereens, not to speak of on-going terrorist activities even if the West wins the war. Add to that the general tanking of world stock markets, transnational currency erosion, contagion symptoms (high unemployment, bankruptcies, price inflation, and so on) in the first world economies, and one begins to realize that there is plenty of reason to order, take delivery on and store plenty of yellow nearby. (If the investment world thinks the Japanese, Arab and Indian buyers are having an effect on this gold market wait until their American counterparts show-up.) So we explain the stubborn upside price action despite the best efforts of the anti-gold crowd wherever and whoever they may be.
That having been said. . . . .
Gold has been a steady pull to the upside since the early August lows -- moving quietly, stealthily while much of the investment world was taking advantage of summer's end. Now the traders and investors are back and things are happening. Yesterday's upside surprised most of the gold world. Today's movement is confirmation something is going on -- a groundswell if you will. Peter Hillyard at ANZ Investment Bank summed up the technical aspect as follows: "$318/19 is going to be a fairly big obstacle to a big rally, but once it's through that it could power through to the $320's." So, as the forces of good and evil move toward confrontation at the $318 level (as this is written), so on a more serious plane the United States and Iraq move toward a confrontation of their own. Those of us who remember the sequencing of events prior to the first Gulf War can't help but clinch a little at the arrival of Tony Blair this week for a meeting with GB2. We remember it was a visit between Margaret Thatcher and GB1 in Aspen that pre-dated by a few weeks launching the first Gulf War.
Maybe that's what has this gold market on the move on near-term basis, but it is the other things mentioned that have laid the foundation. I think its about time we started to refer to this as mentioned in our newsletter this month as the first bull market for gold in the 21st century.
Gandalf the White
(09/05/02; 09:03:49MT - usagold.com msg#: 84406)
"The Happy Birthday GOLD PRICE SETTLEMENT CONTEST"
UPDATE #5 (as of Thursday 0900 Denver time 9/5/02)
===
FYI ------HIGH, Low and Settlement Price of GC2Z on:
9/3/02 $315.9 $314.1 $315.0s
9/4/02 $317.1 $313.8 $316.5s Change + $1.5
===
$$$$ 398.6 $$$$ Believer (09/04/02; 18:22:46MT - msg#: 84358)
$$$$ 375.0 $$$$ Henri (09/04/02; 10:58:18MT - msg#: 84326)
$$$$ 362.3 $$$$ NEMO me impune lacessit (09/04/02; 05:21:24MT - msg#: 84304)
$$$$ 354.4 $$$$ perform (09/04/02; 07:34:49MT - msg#: 84313)
$$$$ 353.4 $$$$ darkhorse (09/03/02; 20:56:04MT - msg#: 84280)
$$$$ 345.0 $$$$ Socrates964 (09/04/02; 16:11:50MT - msg#: 84344)
$$$$ 343.0 $$$$ ji (09/04/02; 21:38:27MT - msg#: 84381)
$$$$ 342.5 $$$$ gvc (09/03/02; 17:08:12MT - msg#: 84255)
$$$$ 341.7 $$$$ old gold (09/04/02; 11:40:02MT - msg#: 84330)
$$$$ 339.0 $$$$ rsjacksr (09/03/02; 22:36:21MT - msg#: 84289)
$$$$ 335.4 $$$$ Roger The Shrubber (09/05/02; 08:18:47MT - msg#: 84404)
$$$$ 333.7 $$$$ Speedy (09/04/02; 19:15:01MT - msg#: 84366)
$$$$ 333.4 $$$$ Slowman (09/04/02; 20:10:11MT - msg#: 84370)
$$$$ 330.0 $$$$ HOOSIER GOLDBUG (09/04/02; 19:11:32MT - msg#: 84365)
$$$$ 331.3 $$$$ misetich (09/04/02; 05:28:30MT - msg#: 84307)
$$$$ 331.2 $$$$ Pippin (09/04/02; 12:50:09MT - msg#: 84335)
$$$$ 329.8 $$$$ goldenpeace (09/04/02; 11:36:15MT - msg#: 84329)
$$$$ 329.3 $$$$ mikal (09/04/02; 17:08:29MT - msg#: 84349)
$$$$ 329.2 $$$$ The Hoople (09/04/02; 12:04:30MT - msg#: 84332)
$$$$ 328.5 $$$$ steady (09/03/02; 20:14:41MT - msg#: 84272)
$$$$ 328.1 $$$$ ha_tey_o (09/04/02; 11:15:13MT - msg#: 84327)
$$$$ 327.9 $$$$ Trapper (09/03/02; 20:12:26MT - msg#: 84271)
$$$$ 327.3 $$$$ luckypierre (09/03/02; 15:20:51MT - msg#: 84244)
$$$$ 326.5 $$$$ turkey hunter (09/03/02; 18:33:51MT - msg#: 84261)
$$$$ 325.5 $$$$ Galerider (09/03/02; 20:53:27MT - msg#: 84279)
$$$$ 325.2 $$$$ The CoinGuy (09/04/02; 13:00:07MT - msg#: 84338)
$$$$ 324.5 $$$$ Rock (09/04/02; 12:19:18MT - msg#: 84334)
$$$$ 324.1 $$$$ Gold Standard (09/04/02; 05:02:31MT - msg#: 84302)
$$$$ 323.7 $$$$ Boxman (9/4/02; 04:27:17MT - msg#: 84301)
$$$$ 323.2 $$$$ a nation of one (09/03/02; 13:55:53MT - msg#: 84229)
$$$$ 322.2 $$$$ Tommy P (09/03/02; 14:33:23MT - msg#: 84233)
$$$$ 321.9 $$$$ MoonHowler (09/04/02; 21:59:49MT - msg#: 84382)
$$$$ 321.4 $$$$ balzac (09/04/02; 17:22:15MT - msg#: 84353)
$$$$ 321.1 $$$$ The Knife (09/04/02; 16:30:43MT - msg#: 84345)
$$$$ 321.0 $$$$ Gandalf the White (09/03/02; 12:29:20MT - msg#: 84221)
$$$$ 320.2 $$$$ 18K (09/03/02; 13:18:00MT - msg#: 84226)
$$$$ 320.0 $$$$ Zhisheng (09/03/02; 15:06:26MT - msg#: 84240)
$$$$ 319.8 $$$$ Bound Spirit (09/03/02; 17:20:54MT - msg#: 84257)
$$$$ 319.7 $$$$ slingshot (09/03/02; 16:57:17MT - msg#: 84254)
$$$$ 319.5 $$$$ davefinger (09/03/02; 14:52:14MT - msg#: 84235)
$$$$ 319.4 $$$$ koala bear (9/4/02; 04:08:54MT - msg#: 84299)
$$$$ 319.2 $$$$ Bulldog (09/03/02; 21:53:40MT - msg#: 84288)
$$$$ 318.6 $$$$ Kodie (09/03/02; 12:41:26MT - msg#: 84222)
$$$$ 317.2 $$$$ Artie Farkle (09/04/02; 20:02:53MT - msg#: 84369)
$$$$ 316.0 $$$$ Tevye (09/04/02; 08:02:40MT - msg#: 84316)
$$$$ 314.9 $$$$ MO VER MEG (09/04/02; 07:34:44MT - msg#: 84312)
$$$$ 314.5 $$$$ Frosty (09/03/02; 18:59:09MT - msg#: 84265)
$$$$ 313.3 $$$$ Woodie (09/03/02; 23:41:11MT - msg#: 84291)
$$$$ 312.5 $$$$ SilverHoard (09/04/02; 17:01:10MT - msg#: 84347)
$$$$ 311.4 $$$$ De Ronin (09/04/02; 12:16:42MT - msg#: 84333)
$$$$ 308.6 $$$$ Noble1 (09/04/02; 20:25:58MT - msg#: 84371)
$$$$ 295.5 $$$$ Topaz (9/5/02; 01:41:33MT - msg#: 84389)
===
THE RULES --
1) THIS Contest consists of TWO Portions --- A Price Prognostication and a Discussion Statement !
2) The Winner is the Price Guess closest to the Settlement price of the COMEX (most active) December 2002 Contract (GC2Z) on the date of Friday the 13th of September. (NOTE the LUCKY date !)
3) Price "Guesses" shall be stated in Dollars and tenths !
(Such as $543.2)
4) "Guesses" shall be SHOWN in the SUBJECT location AND enclosed in markers of "Dollar Signs"
so as to be OFFICIAL ! Such as $$$$ 543.2 $$$$
5) ONLY one "Guess" per Knight or Lady is allowed, and once that "Guess" has been "taken" -- no one can duplicate it !! FIRST COME has rights to that "Guess".
6) HOWEVER, All "Guesses" MUST be posted before the clock in Denver strikes HIGH NOON on Thursday, September 12th.
7) AND MOST IMPORTANTLY -- A short discussion paragraph of "Why gold is important to THAT PERSON as an investor/owner." This part of their entry MUST accompany their Price prognostication, OR the entry WILL NOT BE CONSIDERED!
----
THE PRIZES !!
To the person with the exact or closest "Guess" to the December ‘02 (GC2Z) SETTLEMENT price on Friday September 13th ----- an one-half ounce PURE GOLD Canadian Maple Leaf as the winning prize, with an one-tenth ounce PURE GOLD Austrian Philharmonic to BOTH the next closest guesses (runners up).
===
OVER 50 ENTRIES at this time and many more are planning their PROGNOSTICATIONS !
While the POG just keeps moving about and edging upward toward THE MOON !
<;-)
Waverider
(09/05/02; 08:49:52MT - usagold.com msg#: 84405)
Jitters spark rise in gold
http://globeandmail.com/servlet/ArticleNews/business/RTGAM/20020905/wgol0905/Business/businessBN/breakingnews-business
Snip:
"Jittery investors piled into the gold market on Thursday as Washington lined up a possible military strike against Iraq and the September 11 anniversary loomed. Fears of a repeat attack on the U.S. mainland were a major factor in gold's eventual move to a 2-1/2 year high of $330.30 last June. That rally was also helped by plunging stock markets, a fragile dollar, Israeli-Palestinian violence and moves by leading gold miners to cut their forward sales of the metal to take advantage of rising spot prices."
Waverider: Interesting little article to find in the Globe and Mail.
Roger The Shrubber
(09/05/02; 08:18:47MT - usagold.com msg#: 84404)
Oops
$$$$335.40$$$$
Thankyou Sir Gandalf for the generous welcome, and the tip. $329.80 was taken. If I must provide a new explanation, then here it is.
Apart from a being a good insurance policy and investment, I believe that gold in the right hands will aid in the reversal of our present course of financial turmoil. Things will no doubt be worse before they get better, but that's history for you.
If it is true, that great wealth will only magnify an individual's evil character and intent, then the opposite is also true. So I say, let the Cabal continue to dump their gold until their ammunition magazines are empty, then We will take our rightful place. --Roger--
Buena Fe
(09/05/02; 08:02:32MT - usagold.com msg#: 84403)
speculations
my guess is that there will be NO war at this time. before "w" et al can organise support, a stunning $/bond destroying "revelation" (g says perception is everyting) will appear which will speedily spell the end of the us economic/financial system. america will recoil in shame at her own corruption and a great period of introspection will begin.
gold/euro/oil/crb will blast off as the us hyperinflation maifests (bonds toast, equities so so).
just a guess
USAGOLD / Centennial Precious Metals, Inc.
(9/5/02; 07:10:00MT - usagold.com msg#: 84402)
Put a Foundation Under Your Portfolio -- Have Your Own International Reserve Assets
http://www.usagold.com/ProductsPage.html
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