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ARCHIVED DISCUSSION FROM 3/7/2001 All times are U.S. Mountain Time (Yesterday's Discussion.) SteveH (03/07/01; 23:52:23MT - usagold.com msg#: 49573) Protecting Gold http://www.webleyweb.com/lneil/index.html Why Did it Have to be ... Guns?by L. Neil Smith lneil@ezlink.com Over the past 30 years, I've been paid to write almost two million words, every one of which, sooner or later, came back to the issue of guns and gun-ownership. Naturally, I've thought about the issue a lot, and it has always determined the way I vote. People accuse me of being a single-issue writer, a single- issue thinker, and a single- issue voter, but it isn't true. What I've chosen, in a world where there's never enough time and energy, is to focus on the one political issue which most clearly and unmistakably demonstrates what any politician -- or political philosophy -- is made of, right down to the creamy liquid center. Make no mistake: all politicians -- even those ostensibly on the side of guns and gun ownership -- hate the issue and anyone, like me, who insists on bringing it up. They hate it because it's an X-ray machine. It's a Vulcan mind-meld. It's the ultimate test to which any politician -- or political philosophy -- can be put. If a politician isn't perfectly comfortable with the idea of his average constituent, any man, woman, or responsible child, walking into a hardware store and paying cash -- for any rifle, shotgun, handgun, machinegun, anything -- without producing ID or signing one scrap of paper, he isn't your friend no matter what he tells you. If he isn't genuinely enthusiastic about his average constituent stuffing that weapon into a purse or pocket or tucking it under a coat and walking home without asking anybody's permission, he's a four-flusher, no matter what he claims. What his attitude -- toward your ownership and use of weapons -- conveys is his real attitude about you. And if he doesn't trust you, then why in the name of John Moses Browning should you trust him? If he doesn't want you to have the means of defending your life, do you want him in a position to control it? If he makes excuses about obeying a law he's sworn to uphold and defend -- the highest law of the land, the Bill of Rights -- do you want to entrust him with anything? If he ignores you, sneers at you, complains about you, or defames you, if he calls you names only he thinks are evil -- like "Constitutionalist" -- when you insist that he account for himself, hasn't he betrayed his oath, isn't he unfit to hold office, and doesn't he really belong in jail? Sure, these are all leading questions. They're the questions that led me to the issue of guns and gun ownership as the clearest and most unmistakable demonstration of what any given politician -- or political philosophy -- is really made of. He may lecture you about the dangerous weirdos out there who shouldn't have a gun -- but what does that have to do with you? Why in the name of John Moses Browning should you be made to suffer for the misdeeds of others? Didn't you lay aside the infantile notion of group punishment when you left public school -- or the military? Isn't it an essentially European notion, anyway -- Prussian, maybe -- and certainly not what America was supposed to be all about? And if there are dangerous weirdos out there, does it make sense to deprive you of the means of protecting yourself from them? Forget about those other people, those dangerous weirdos, this is about you, and it has been, all along. Try it yourself: if a politician won't trust you, why should you trust him? If he's a man -- and you're not -- what does his lack of trust tell you about his real attitude toward women? If "he" happens to be a woman, what makes her so perverse that she's eager to render her fellow women helpless on the mean and seedy streets her policies helped create? Should you believe her when she says she wants to help you by imposing some infantile group health care program on you at the point of the kind of gun she doesn't want you to have? On the other hand -- or the other party -- should you believe anything politicians say who claim they stand for freedom, but drag their feet and make excuses about repealing limits on your right to own and carry weapons? What does this tell you about their real motives for ignoring voters and ramming through one infantile group trade agreement after another with other countries? Makes voting simpler, doesn't it? You don't have to study every issue -- health care, international trade -- all you have to do is use this X-ray machine, this Vulcan mind-meld, to get beyond their empty words and find out how politicians really feel. About you. And that, of course, is why they hate it. And that's why I'm accused of being a single-issue writer, thinker, and voter. But it isn't true, is it? justamereBear (03/07/01; 22:45:53MT - usagold.com msg#: 49572) WorkingKirk 49509 currie@mqcinc.com I have been thinking a good deal about your post. I can see a very definite need for such skills in the world I see unfolding, and unfortunately am ignorant enough that I may not even be able to ask an intelligent question. Nevertheless, I would like to try, and invite you to e mail me at the above address since this is obviously an off topic subject. Perhaps some of my preparations may be of interest to you as a quid pro quoThanksj'Bear SHIFTY (03/07/01; 22:28:19MT - usagold.com msg#: 49571) 'IT,' a Hydrogen Scooter http://dailynews.yahoo.com/h/ap/20010306/bs/mystery_invention_1.html Tuesday March 6 10:53 PM ETReport: 'IT,' a Hydrogen Scooter MANCHESTER, N.H. (AP) - Inventor Dean Kamen's mystery invention, dubbed ``IT'' or ``Ginger,'' is a two-wheeled, hydrogen-powered scooter that is emission-free and for which he is building a New Hampshire factory, Inside magazine reports.The print publication of Inside.com says it used corporate surveillance experts to uncover the details on the invention.'``Ginger represents the first generation of a new mode of transportation that will compete with and possibly replace automobiles. The ramifications of a 'hydrogen economy' would be profound on everything from the environment to the energy business to global politics,'' the magazine said.Kamen created a company called ACROS to build ``motorized, self-propelled, wheeled personal mobility aides, namely wheelchairs, scooters, carts and chariots,'' the magazine said.The Manchester inventor has refused to discuss the project, saying he will not reveal what IT is until next year.But IT has created waves already. Some of the biggest wheels of industry, like Steve Jobs (news - web sites) of Apple and Jeff Bezos of Amazon.com, who reportedly have seen the machine, have offered financial support and say the invention will change transportation.Such devices presumably would draw on the development of the I-bot, a mechanical wheelchair that can drive through sand and climb stairs, created by Kamen and his medical-research firm, DEKA Research and Development.The I-bot was part of the reason Kamen was among recipients of the 2000 National Medal of Technology.Last week at an appearance before the New Hampshire Society of Professional Engineers, Kamen would only say he was amazed at the amount of attention IT has received.Kamen is a prolific and successful inventor who has come up with innovative wheelchairs and an insulin pump. Horatio (03/07/01; 22:04:57MT - usagold.com msg#: 49570) Japan interest rates The Japanese could solve the gold problem simply by raiseing interest rates.This would remove the yen carry trade and atract investment capital to thier stock market and currency.They have been getting advice from Goldman Sachs to do the opposite supposidly to aid thier exports which has failed.Of course Sachs will say look how bad it could have been!Or they could buy gold instead of U.S.paper investments which are looking more and more risky. Wake up Japan! The Brits would do well to change governments ,Mr.Blair seems to be on a policy of "To big to fail"sell the gold and watch the Pound sink ,when it gets uncontrollable then ask for U.S. help cause there to big to fail. The Germans should do likewise,things were much better with Reagan,Thatcher,and Kohl. Imho. megatron (03/07/01; 21:27:47MT - usagold.com msg#: 49569) Rhody/et al Very curious to me that a G7 country like Canada who is apparently in a SURPLUS!!! situation would sell 20,000 ounces of gold in FEB. @ $280.US. The measly amount generated wouldn't cover lunch in Ottawa. This is obviously an attempt to reliquify SOMEBODY or repair a potential derivatives blowout. How much more obvious does this need to get? $8 mil. CDN +/- is NOTHING to the human pig socialists that inhabit that filth-hole. It is related to the Bank of Canada's derivative exposure in gold and securities like Nortel. As for the Aug 3, 1993 'event' in the gold market, I can only chuckle as my mind goes back to that fateful day 1 MONTH LATER that the socialist Liberal party was elected into goverment of what was then a technically bankrupt country. Very curious....... SHIFTY (03/07/01; 21:05:57MT - usagold.com msg#: 49568) Cavan Man I would say you are correct! That's why I think he is a short! He cant be that dumb.$hifty Cavan Man (03/07/01; 21:00:39MT - usagold.com msg#: 49567) Shifty I know Mr. Coxe is much smarter and much wealthier than I am. However, after listening to him for just a few minutes, I am absolutely convinced (from his opening remarks) that he is wrong. SHIFTY (03/07/01; 20:52:23MT - usagold.com msg#: 49566) Don Coxe / Listen http://www.jonesheward.com/commentary.cfm Don Coxe starts off about gold. I think he must be a short!$hifty Cavan Man (03/07/01; 20:24:14MT - usagold.com msg#: 49565) BOE and Sir EG The announcement today couldn't be more bullish. Flying in the face of everything that is known about market: supply/demand fundamentals, derivatives, global monetary travails, inflation etc., etc., (did I forget to mention common sense?); the BOE keeps a stiff upper lip and continues to send her gold off to foreign shores to fight her battles where once she sent her navies and her merchant marine--so typically English. These are desperate times for gold shorts and enemies of sound money. Anyone who has been closely following the gold market these last two years should be buying with both hands. History is repeating itself once more. slingshot (03/07/01; 19:27:04MT - usagold.com msg#: 49564) ET msg 49563 Gold is LIBERTY America has been fighting to maintain Liberty not only for ourselves but others for some time. Never has our liberty been under such an attack as it has in the past ten years.Gold physical or a gold standard is the only way to save this country. Now you'al I'm going to get Hot about this, Please hang with me. If everyone in this USA brought One stinkin once we could send a message to put substance back into our money. Noooooooo. Why? We are Dumb! To control a country you must first control the institutions of education. Wow! Forty years of liberal social-democratic, touchy feely crap we have been teaching our kids. We are not Americans! We are Hypenated Americans. Second, control the Media. Do I need to express myself here. Third. Control the money supply. We are so far in debt its unreal. Not to mention taxes. Finally remove all guns from the public. Don't want anyone shooting back now even if they take you property unjustly. So Joe Sixpack will not believe till they take his Liberty away. I can hear him now, "You can't do that, This is America'.So, ET, There are just about as many people who will stand up as there are Gold bugs. Europe will have to grapel with her own trouble which is the same plight as ours. How can some one not buy GOLD at this price with what is unfolding before our very eyes. We are a nation of Sheeple and dumb as you know what.Slingshot ET (03/07/01; 18:04:55MT - usagold.com msg#: 49563) ORO, Cavan Man, All http://www.lewrockwell.com/rothbard/ir/Ch44.html I was hoping to stir some interest in a possible solution for the Europeans with the Rockwell speech. If any url needs to be immediately distributed throughout EU Europe, it is Lew Rockwell's. Although he focuses on the US situation, the same applies for the Europeans and on a more immediate note.http://www.lewrockwell.com/rockwell/americanopinion.htmlIt's my perception that the fiat currency regime is coming under great stress and could fail giving the EU bureaucracy an opportunity to enshrine themselves for decades should their currency succeed at this point in this form. A new fiat currency only perpetuates the despotism. A return to sound money is of utmost importance to the world today if liberty is to prevail. Despite calls here and elsewhere for a more "reasonable" solution, retaining liberty and rejecting despotism requires courage and commitment, not compromise. Whatever liberty that may remain in Europe today is about to be lost for decades if not longer should the EU bureaucracy succeed in stifling all dissent. We are approaching another crossroad that will have worldwide implications. I agree with ORO and Murray Rothbard, it is time to be heard if liberty is to remain something other than a term of antiquity. Peter Asher (03/07/01; 17:22:53MT - usagold.com msg#: 49562) Virus alert serious enough to post From: "Robin Asher" This virus alert is high risk. It comes directly from McAfee.com, from mysubscription to the Clinic. Not a hoax.Best,Robin>> ----- Original Message -----> From: McAfee.com Dispatch <dispatch@mcafee.com>> Sent: Tuesday, March 06, 2001 8:40 PM> Subject: VIRUS ALERT - W32/Naked@MM> Dear McAfee.com Dispatch Subscriber:>> Since its discovery early on March 6, 2001, McAfee.com has> seen a large and growing number of computers infected with> W32/Naked@MM. This is a HIGH RISK virus that is spreading> rapidly via the Windows email program Outlook. The infected> email can come from addresses that you recognize. Attached> is a file named NakedWife.exe, which poses as a Flash movie.> The email message can appear as follows:>> Subject: Fw: Naked Wife> Body:> My wife never look like that! ;-)>> Best regards,> (sender's name)>> Attachment: NakedWife.exe>> When run, it copies itself to a TEMP directory and displays> a window entitled "Flash" which reads "JibJab loading". It> then attempts to delete all .BMP, .COM, .DLL, .EXE, .INI,> and .LOG files in the WINDOWS and WINDOWS\SYSTEM directories> and emails itself to all recipients in the Windows Address> Book using Microsoft Outlook.>> If you are not a subscriber to the McAfee.com Clinic please> click here to get anti-virus protection.> -> http://clinic.mcafee.com/clinic/ibuy/campaign.asp?cid=2164>> Find out more about this virus. Click here to go to the> W32/Naked@MM Help Center. http://clinic.mcafee.com/clinic/ibuy/campaign.asp?cid=2164>This Virus Alert has been issued by the> McAfee Anti-Virus Emergency Response Team (AVERT).>> McAfee.com Support: To contact us about this dispatch, click here.> -> http://www.mcafee.com/support/cust_serv/default.asp>> Subscribe: If you received this message from a friend and> would like to subscribe to McAfee.com Dispatch, click here.> -> http://dispatch.mcafee.com/sub.asp?s=22>> Trademarks 2001 McAfee.com Corporation / All Rights Reserved. Pandagold (03/07/01; 16:03:37MT - usagold.com msg#: 49561) UK Elections Looks like it is all systems go for the UK elections around May 3rd.After today's budget - lots of give-aways across the board looks like Tony will be home and dry. No close run thing like in the US.There are now likely to be interest rate cuts which should lower the £ against the Euro in the near future.If the UK (and I am sure it has) has been working in collusion with the US on holding gold down, they are hardly going to hit Tony where it will hurt by allowing gold to move up much until after the election. It would be very embarrassing for Gordon Brown ( who's hoping to become Prime Minister) and Tony. (Just a thought to keep in mind) Hill Billy Mitchell (03/07/01; 16:03:16MT - usagold.com msg#: 49560) Old Yeller @ # 49537 Sir OY.Your subject:"Ron Paul'standard bearer for the 21st century?"Excerpt from your link:"Williamson is not confident that current members of Congress will attempt to change the system -- save one. "The citizens' best bet is Rep. Ron Paul, who understands this issue top to bottom and always crosses swords with Mr. Greenspan in his annual testimonies," she says. "He is a brilliant gentleman and a great defender, and really, American citizens would not be able to own gold today were it not for Ron Paul." I too greatly admire Congressman Paul. Sad thing is I would't give a 1 10th ounce Eagle for his life. He reminds me too much of McFadden. We all know what happened to him.Sad, Sad post, I know.But truth?HBM Pandagold (03/07/01; 15:50:14MT - usagold.com msg#: 49559) Gold Trivia courtesy of Harmony Gold This Gold trivia was takem from Harmony's new website which is quite something for such a normally staid industry'Lots of 'western' music and you can enjoy a shoot out in the saloon Some of these you know, but some may add to your understanding of the object of our interest. Africa's gold deposits were formed some 3,4 billion years ago.An estimated 10 billion tons of gold is suspended in the seas of the world.Each mine's gold has its own DNA, so the exact origins of, say, a piece of jewellery made from 'virgin gold' (or gold unblended with gold from another source) could be ascertained.The deepest mine in the world is Western Deep Levels gold mine on the Far West Rand, now approaching a depth of 4 kilometres. (approx. 13000 feet). Mining does not as yet take place at that depth.The total volume of rock cut away each year in South Africa's gold mines would make a railway tunnel 3500 kilometres (approx. 2200 miles) long reaching between London and Leningrad.For every ton of rock mined, nearly 15 tons of ventilation air is pumped underground.The volume of water pumped daily from the mines would fill 3 million domestic bath tubs to the brim.Cooling plants on South African gold mines have a capacity equal to nearly 3.5 million domestic refrigerators.Virgin rock temperatures higher than 52?C (126?F) have been recorded in South African gold mines.The South African gold mining industry consumes enough electricity - over 23 million megawatt hours - to power a city with 3 million inhabitants.It is estimated that the portion of mineworkers' earnings remitted to Lesotho account for some 60 per cent of that country's Gross Domestic Product.Gold can be beaten wafer thin - technically that's 0.00001mm thick. One ounce of gold can be beaten into 16 square metres/yards of gold leaf.One ounce can be drawn into eight kilometres (five miles) of gold wire.Gold is used in the electronics industry to make more than 10 billion tiny electrical contacts every year.The world's dentists use over 60 tons of gold every year.Gold has medicinal and healing properties - it can be used in treating rheumatoid arthritis, chronic ulcers and tuberculosis.Nearly 40 tons of gold were used in the construction of space shuttle "Columbia" in preparation for its maiden flight in April 1981.Gold can be eaten - it is indeed eaten in many Asian cultures.Gold is found in minute proportions in the human body, whether you have eaten it or not.The largest South African gold nugget weighed 7.8 kilograms (approx. 17 lbs.) and was found at the town of Pilgrim's Rest (near the Kruger National Park) between 1875 and 1881. The largest nugget ever discovered weighed 70.92 kilograms (approx. 160 lbs.) and was found in Victoria, Australia.All the gold ever mined in the world would fit into a store room measuring 17 metres long, 17 metres high and 17 metres wide (approx. 5000 cubic metres/yards). More steel is poured in an hour than gold has been poured since the beginning of time.The American Federal Reserve on Wall Street, New York, is the biggest repository of gold in the world; some 13000 tons of gold are kept behind 90 ton steel doors in vaults blasted out of solid granite.Of the estimated 127000 tons of refined gold in the world - bullion, jewellery, coin - no less than 42000 tons (or 33 %) has been mined in South Africa since 1886.Gold has been used as a currency for over 5000 years.The oldest gold jewellery ever was crafted in Africa (3200BC). · India has by far the biggest annual offtake of gold: 508 tons in 1996, enough to make about 175 million plain, 18 carat wedding rings. Randy (@ The Tower) (03/07/01; 15:42:44MT - usagold.com msg#: 49558) Two announcements in one post http://www.usagold.com/wgc.html The link above will take you to the gold's market's "week in review" commentary by the World Gold Council where they track the price and lease rate movements seen in last week's bullion banking activity. - - - -On another note, it should come as no surprise that the Federal Reserve's System Account Manager participated in open market operations this morning even though the fed funds market was trading at the target rate. Through use of overnight repurchase agreements the Fed added $4.925 billion in temporary reserves to the banking system. What does come as a small surprise was that the Fed refrained from making an outright purchase of Treasuries...something that we have seen developing into a regular routine, relatively speaking. R Powell (03/07/01; 15:41:36MT - usagold.com msg#: 49557) Yes. Only 120 tonnes http://www.hm-treasury.gov.uk/press/2001/p30_01.html Message from the neighbors. Tree in the Forest (03/07/01; 15:03:50MT - usagold.com msg#: 49556) Chris Powell - BOE auctions Thanks for the link Chris. An excerpt:"I can't see why they have persisted with this method when every other seller has consistently used the traditional route through the market," said Martin Potts, analyst at Williams de Broe."It gives people the incentive to go short and therefore depress the price. How does that therefore generate value over and above what would otherwise be achievable?"The reason why they do what they do is becoming more and more obvious to everyone. As I quoted previously, no discernible difference between what they are doing and the London Gold Pool of the late 70's. Tree in the Forest (03/07/01; 14:52:46MT - usagold.com msg#: 49555) Chris Powell Well their announcement does say "about" 25 tonnes so is 20 tonnes "about" 25 tonnes? Doesn't seeing them squirm as the noose draws tighter provide true entertainment? <grin> Cavan Man (03/07/01; 14:51:07MT - usagold.com msg#: 49554) Utopia existeth not @ORO Why always the choice between lessers of comparable evils.So, are you taking the position that the mush they teach in schools here is preferable to Europe? Many a US college campus could be considered a hotbed of socialism could they not? Chris Powell (03/07/01; 14:50:04MT - usagold.com msg#: 49553) Bank of England modifies gold auction program http://groups.yahoo.com/group/gata/message/700 Full Reuters story.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 Tree in the Forest (03/07/01; 14:41:05MT - usagold.com msg#: 49552) Chris Powell I had heard this at GE but the BOE website announcment dated today says March 14 will be for 25 tonnes. Correct me if I am wrong but I believe this is the same amount as usual no? What I am trying to find out is info on their announcement for the third series of auctions. Todays announcement says that the third series announcment is also dated today but I could not find it on their website. Chris Powell (03/07/01; 14:35:27MT - usagold.com msg#: 49551) Bank of England reduces gold auction I don't have anything more on this butapparently the Bank of England hasannounced that it will reduce its nextgold auction by 5 tonnes. R Powell (03/07/01; 14:32:25MT - usagold.com msg#: 49550) Good work! Working-kirk, pandagold, Topaz, Stranger, USAGOLD, Rhody, Mr. Gresham, Shifty, Journeyman and all. If you keep up posting like today, I'll be forced to spend even more time reading and thinking. Used more than my daily quota of brain cells today, I'll have to eat some bananas to upgrade the power output. Thanks Rich ausome (03/07/01; 14:27:44MT - usagold.com msg#: 49549) Japan currency move Yesterday I was travelling home from work listening to ABC news (Australian) and the ABC's Tokyo reporter said that Prime Minister Mori was about to announce new policy to stimulate the ailing Japanese stockmarket. There were rumours in the day that Mori had actually resigned and the market spiked about 0.75% only to later collapse yet again. Things are getting desperate after a 10 year recession (depression). Fiscal stimulation of many trillions of Yen for the last few years since the beginning of Asian contagion have not improved the parlous Japanese economy. Interest rates are at 0.15% in Japan and they are talking about cutting them further!The ABC reporter Peter Martin mentioned that an argument to devalue the Yen was gaining credence in Japan. The idea is to make the Yen 1/100th of the value it is today! Prices would have two zeros knocked off the end so that 1000Y would now be 10 Yen. It would be called the new Yen. I not sure whether the reporter meant that 1 Yen would equal 1 US$ or not. It would seem that Mori's statement whatever the move will be announced Friday. His political days are numbered anyway. It is apparent that the Asian flu has not gone away and that the second biggest economy in the world will not collapse without bringing down its friend the US.The Australian dullar is now 50.9 cents to the US dollar only 0.17cents above its all time low in November last year. We had another .25% rate cut yesterday and the currency got hammered again. This comes on the back of a 0.6 % decline in December quarter GDP. The 'r' word is getting increasingly more airplay even though a low currency earns heaps in foreign currency from exports. Gold is Australia's seecond largest export earner. At $512 an ounce we are smiling. ----Question for FOA.Would you give this Japanese move to devalue any currency?(joke) ORO (03/07/01; 14:14:34MT - usagold.com msg#: 49548) Cavan Man - EU school questions Public schools there are better in teaching some basics than those in the US today, but that is not to mean that they are of an overall higher value to the student. They are not. Most particularly because they teach pro-government propaganda as part of civics, and vary between ignoring and distorting the notions of rights and civil life. They are represive of creativity in the latter grades, and do not encourage critical thinking any more than US schools do.The main point is that the schools of the EU nations are the only choice one can make, because private schools are much less accessible to most people. That is predominantly because of the high tax rates in Europe - when VAT, tariffs, and income taxes are taken together, the EU tax rates are some 60% of the income of a middle class earner. While they are 40-50% in the US. Regulatory costs also restrict your spending's effectiveness by restricting choices and extending the effort involved in obtaining merchandise. Cavan Man (03/07/01; 14:02:20MT - usagold.com msg#: 49547) ORO So, where does one find the best place for housekeeping? One thing about Europe; I do believe the schools in many countries are better and more importantly SAFER than here. Pols, central bankers and the otherwise powerful and elite are of the same stripe generally (everywhere) yes? What about Montana? Journeyman (03/07/01; 13:32:07MT - usagold.com msg#: 49546) Yahoo! What's this mean? @ALL NASDAQ (rather than Yahoo! itself) unilaterally halted trading onYahoo! stock this morning until 5:00PM tonight. NASDAQ may dothis without consulting the company who's stock is involved, butthis is relatively rare. NASDAQ may halt trading on a stock inthe interest of stock holders and the trading public, butnormally 30 minutes is the longest suspension of trading mandatedin the rules. Usually such halts indicate a major change incompany management or a major restructuring. -Composite info fromCNBC, March 7, 2001Would a Yahoo! bankruptcy shake-up the markets?Regards,Journeyman ORO (03/07/01; 13:30:26MT - usagold.com msg#: 49545) Last paragraph from Connolly's Bruges speach http://www.eurocritic.demon.co.uk/bg-rsrc9.htm Tony Blair has said it, "Europe" is about the projection of collective power: the power of unaccountable elites over ordinary people, of the Establishment over — in the words of a Europhile Foreign Office official — "the sort of scum who read The Sun". It is about the power of the Blairs, the Booths, the Irvings, the Falconers, the Mandelsons. The Jenkinses, the Ashdowns, the Heseltines, the Howes, the Clarkes and the Hurds. It is about ripping our country away from the liberal, democratic, Anglo-Saxon world. It is about subjecting it to the 3000-year-old European values of tyranny and oppression. We must have nothing to do with it. ORO (03/07/01; 13:21:52MT - usagold.com msg#: 49544) More from Connolly on the EU http://www.eurocritic.demon.co.uk/bg-rsrc9.htm Connolly excerpts the core of the purpose of the EU: to preserve the despicable tradition of tyrrany where none in Continental Europe have ever enjoyed freedom but for those few periods of light in the Netherlands and Switzerland.From the URL:"Tony Blair, in his equally notorious speech in Warsaw just last month: "Europe is no longer just about peace" — as if it had ever been anything to do with peace — "It is about the projection of collective power." "Europe", he said, echoing Jacques Delors, "must become a superpower." Now an earlier declaration, one made 40 years ago in secret by Harold Macmillan to General de Gaulle: "European civilization is what at all cost we must preserve. It has survived for 3,000 years, but it is menaced from all quarters, by Africans, Asians and Communists … and the North Americans, Australians and New Zealanders. More than ever there is a need for real political unity in Europe." More recently again, in 1996, Phillippe Maystadt, then the Belgian Finance Minister and now president of the European Investment Bank, said that: "The purpose of the single currency is to prevent the encroachment of Anglo-Saxon values in Europe." "and later:"...throughout 3000 years of European civilisation that Macmillan wished to protect against the English-speaking world and the British Commonwealth, those values have been ones of absolutist power and tyranny. Nothing has changed." Stocks, Lies, and Ticker Tape (03/07/01; 13:13:28MT - usagold.com msg#: 49543) Holtzman, Sierra Madre, Journeyman, ORO, Slingshot, working-kirk Really enjoyed reading your posts the last couple of days! We want more! USAGOLD (03/07/01; 13:06:28MT - usagold.com msg#: 49542) Mr. Gresham. . . . Thank you for the interesting link to Mr. Sinclair's thinking. I would like to expand the endorsement of the link you provide to say that there is an interesting exchange there between Sinclair and perennial gold bear, Andy Smith. Scroll to below the initial essay by Mr. Sinclair. ORO (3/7/2001; 12:51:23MT - usagold.com msg#: 49541) Holtzman - remnants of power Though you are right about the absence of longevity in family power, there is something to be said for the progeny remaining in existence rather than the Roman way by which the whole of a family was killed and their property seized.It should stand as a warning to all seeking power that the more power is allowed them, the more can be used against them. The people who end up in power after a power grab are rarely those that had done the deed of creating the power and those that had initially grabbed it. The original supporters of juntas around the globe were often the first to be "disappeared". Horatio (3/7/2001; 12:49:46MT - usagold.com msg#: 49540) Holtzman:Whats in a name? Sir you treatment of all Romans being the same is not accurate.I am a direct decendant of Horatio also known as the Horatian family or Oratii.They do have a Italian spelling now that is slightly different.They were a considerable influence in establishing the FIRST Republic to address grievences from the early Kings of Rome(640BC).Horatio being responsible for saving Rome from the Albans ,a battle which if had lost would have resulted in Rome being called something else.Another battle of note was Horatio at the bridge,where he single handedly defended Rome from the Etruscians.Rome in the Early days was a Noble cause,it was hundreds of years later that the people lost thier Rebublic and thier Noble heros to Politicians.Its a lesson we face today with the loss of our Rebublic to a (Democracy),also know as mob rule. WAC (Wide Awake Club) (3/7/2001; 12:49:45MT - usagold.com msg#: 49539) @ORO, Holtzman - Origins Have you read 'The Thirteenth Tribe' by Arthur Koestler? ORO (3/7/2001; 12:23:52MT - usagold.com msg#: 49538) Hotzman - origins Genetic testing has shown that Egyptians are more genetically related to the mummies in the tombs than to Arabs in today's Arabia.Similarly, such tests have shown Jews to be related to each other and to Semitic populations in the ME. Point being that Jews of Eastern Europe are related to the dark skinned Sephardic Jews of the Mediterranean, and to the Ethiopian Jews. Old Yeller (3/7/2001; 12:08:28MT - usagold.com msg#: 49537) Ron Paul'standard bearer for the 21st century? http://www.wnd.com/news/article.asp?ARTICLE_ID=21970 This looks interesting.Thanks to shebesavvy at the prudentbear forum for the link. ORO (3/7/2001; 12:07:17MT - usagold.com msg#: 49536) ET - thanks for EU story on Conolly http://www.spectator.co.uk/article.php3?table=old§ion=current&issue=2000-11-18&id=251 More can be found in this article in the standard, including a short critique of the misleadingly titled "Charter of Fundamental Rights" to be approved this year at the Nice meeting. The same treaty will give the court that ruled that the European Commission can punish and retaliate against those who criticize it, the status of final arbiter for Europe, above any national court and the Human Rights court in Strassbourg.The EU project is plainly the pure evil it all know it to be. It is the union of the German and French political elite against the whole of the world. But foremost, it is a union of the French and German Elites against their own people.Here's a quote from the URL above:"You have only to read Article 52 (latest version) of the Charter to see where this is heading. It states that the European Union may limit all rights and freedoms enumerated in the Charter ‘subject to the principle of proportionality’, where ‘necessary’ in order to ‘meet objectives of general interest recognised by the Union’. When I asked the top figures of the drafting convention at a press conference what was to stop this ‘raison d’état’ clause being misused for authoritarian purposes, there were audible hisses from a number of EU journalists in the room, and the justice commissioner, Antonio Vitorino, let out one of those patronising little laughs that the EU elite has so perfected. Nobody really answered the question."As this makes clear, the EU bureaucratic and political powers are on a collision course with the rights of humanity, particularly the freedoms of the European people. IF YOU ARE IN EUROPE FIGHT THIS NOW. You will not have a chance for a non-violent fight afterwards. Europe is again falling under a black curtain. We in America should do our best to keep any of our political representatives from falling under this blanket of darkness, and keep them from approving any treaty or legislation that would promote cooperation with the despotic bureaucracy of Europe.The European Supreme Court of Justice have just declared their EU institutions are to be the new king and church, and have made their criticism into the crimes of Lése Majeste and Blasphemy. The European Supreme Court of Justice is an evil abomination, part of the greater evil of unprecedented proportions imposed on an unwilling European populace, it stands in direct opposition to its title and the principles of freedom and justice humanity cherishes. The smell of sulfur pervades their presence.Protect yourself. Be at Nice, and demonstrate. Organize demonstrations in front of all possible decision makers on the matter so that further union, particularly on jusicial matters, may never proceed forward. The European Union institutions are not your friends, they are your enemies - so are your politicians and bureaucrats who support it.See also related to Conolly:http://www.bahnhof.se/~englund/emucon.htmlBuy his book.http://shop.barnesandnoble.com/booksearch/isbnInquiry.asp?userid=3L6ZL8KWKA&mscssid=K49U0446NT4D8H9MS3Q5NE98F5G8E1NA&isbn=0571175201In the UKhttp://www.amazon.co.uk/exec/obidos/ASIN/057117521X/r/202-7715629-4691823 Mr Gresham (3/7/2001; 11:53:39MT - usagold.com msg#: 49535) Jim Sinclair on gold derivatives http://www.mips1.net/422567CB004DBB8F/UNID/4225685F0043D1B24225696E004342D2?OpenDocument He blames miners not CBs, but sees big deriv blowup. What do you think? Holtzman (3/7/2001; 11:34:10MT - usagold.com msg#: 49534) What's in a name? Holtzman here,--------------Gypsy switch--------------To Sierra Madre, who pointed out in (03/06/01; 12:51:26MT - usagold.com msg#: 49479) that the present-day 'Gypsies' are not from Egypt.True, true. Like so many other traditions, things meander over the millennia. So far as I understand it, the first people to be referred to as 'Gypsies' were the refugee Egyptians, most of them Coptic Christians, who fled towards Constantinople from what was becoming a lost frontier in Egypt proper.Over the centuries since then, the term 'Gypsy' came to embrace any people who wandered nomadic through an otherwise settled countryside. Is there any Egyptian ancestry in even one of the present-day Rom? Not much I daresay, but there's probably a tiny bit of ancient Egyptian ancestry in everyone whose lineage traces to south-eastern Europe. And there's not much more ancient Egyptian ancestry among the people who presently call themselves Egyptian. Anwar Sadat was far more closely related to Muhammad than to Pharaoh.I always hesitate before typing these sorts of things, but (fool that I am) I usually carry on recklessly and type them out anyway... what is true of present-day Egyptians is also true of present-day Israelis. That is, only a very few people who to-day call themselves Jews ever had any ancestors who really lived in Palestine in earlier times. Menachem Begin was far more closely related to Pope John Paul II than to any resident of Jerusalem during the reign of the Caesars. These statements are in no way meant to disparage the faiths or the men, but rather to help clarify why most other residents of the Middle East do not regard present-day Israelis as their brothers under Abraham. Quite the contrary: they see modern Israelis as invading Europeans. The absence of the New Testament from this most recent Crusade is rather beside the point insofar as the displaced Muslims are concerned. Indeed, the present-day Israelis are far more literally Templars than were the original users of that name. In the end, though, it is deeds rather than bloodlines which distinguish men. Polish Begin and Arabian Sadat as individual men made peace between two nations whose present-day populations are no more original than is the Anglo-Saxon population of England or nearly the entire population of the U.S. If we trace back far enough, we are all Gypsies and/or Crusaders.--------------Four hundred years is a long time--------------To Journeyman and ORO, I agree with both of you that bureaucratic government is a blight on humanity. I also agree that every government, regardless of how noble its beginnings, ultimately becomes bureaucratic and inefficient to the point of seizing up. However, the only thing worse than government is the total absence of government, which is why, even in such anarchic places as the American West of the 1800s, sheriffs and marshals and the cavalry were repeatedly called for. And why no-one with any sense wants to live in Moscow to-day.But whether we live with too little government or too much, whether the armed man at the door is wearing a bandana or a badge, it is nonetheless up to each of us as individuals to figure out how to make the best of our lot in life. The same set of jungle rules proposed by slingshot in his excellent (03/06/01; 15:20:00MT - usagold.com msg#: 49490) apply just as surely to men of means. That which does not make you stronger only gets you killed.As to aristocratic family names failing to survive in Roman records for 20 generations, how many aristocratic families in existence in 1601 are still powerful and still go by their same names to-day? House Windsor now rules where House Tudor once ruled, though by coincidence the individual monarchs on both dates were christened Elizabeth. And although it hasn't been quite four hundred years yet, does anyone recognise the name of Elias Haskett Derby? Even the somehow feared name of Rothschild is a mere two centuries old. If its descendents ten generations hence are still wealthy and still called Rothschild, they will be one of the phenomenally few families to manage such a feat. Let's pull the timeframe in a bit to just one hundred thirty years. Though we find the occasional still-wealthy family such as the Rockefellers, most late-1800s captains of industry have left no trace apart from the occasional corporate name. And why is that? A combination of government jealousy and the simple truth that those who inherit wealth are rarely so successful at preserving it as were their benefactors at assembling it.Even to-day, Bill Gates has already said that he'll be disbursing his ridiculously vast fortune upon his death. Come 2401, I daresay he might have descendents still going by the name of Gates, but if any of them are in any manner worthy of note it will be because of their own actions, not his.The point I was attempting to make was very simply that the Roman system of bread and circuses was not in any way the result of true charity coming from the ruling class. Rather, it was the result of the ruling class doing what ruling classes have always done: whatever was necessary to preserve their hold on power at that moment and as far into the future as was practicable. The Roman rabble was in no material way different from the street gangs of to-day. Caligula was in no way more dangerous than was Henry VIII. Roman aristocrats were no more likely to be killed by their monarch than were Tudor-era nobles likely to be killed by theirs. For that matter, there were many different Roman imperial family names just as there were many different English ones in the past four centuries: Tudor, Stuart and so on up to Windsor and soon enough Spencer. The names change, yet the system continues.Yours,I.V. Holtzman SHIFTY (3/7/2001; 11:09:14MT - usagold.com msg#: 49533) Gold mining shares http://www.amex.com/quote.dll?page=quick&mode=stock&symbol=GOLD&symbol=HGMCY&symbol=GLG&symbol=ABX&symbol=PDG&symbol=NEM&symbol=HM&symbol=AU&symbol=&symbol= Take a look .Hope the link works.$hifty Tree in the Forest (3/7/2001; 10:53:28MT - usagold.com msg#: 49532) BOE auction BOE announced today that 25 tonnes of Au will be auctioned March 14. Their site also says that they have announced their 2001-2002 auctions but there is currently no info for this on their site. Therefore they are continuing the sham right up to default (see my last post). There is definitely a liquidity problem now in the PM markets but like true blue bankers they won't give in to the last. Is this entertainment or what!? (LOL) Mr Gresham (3/7/2001; 10:08:35MT - usagold.com msg#: 49531) Lease rate history http://www.kitco.com/lease.chart.html Since 1988, no rate spikes above 4% until late 1995 (before big POG drop of 96-97), then the 9% WA spike. Now 4% again, twice. Big hmmmmm.... Mr Gresham (3/7/2001; 10:00:23MT - usagold.com msg#: 49530) Lease rate questions Has FOA ever referred specifically to the implications of a lease rate spike, or is that just part of paper gold market breakdown?Have CBs ever even tried to offer an excuse for their low lease rates? I mean, any non-Treasury (US or Euro) enterprise must be considered to have a default risk of at least .5% (once every 200 years). Also, gold does not track inflation, either, these past 20 years, so that component of chargeable interest is lost. And, a base 3% non-inflationary rate of any lending of any savings seems expectable.The rate spike now seems to put it into a normal market mode (of course, threatening the carry) and shouldn't we see this both as an ongoing market rate zone, and as a precursor to a real market POG?(And how can we borrow some Yen -- at .15% -- to indulge our POGster appetites? Someone, somewhere's doing it, I'll bet.) Mr Gresham (3/7/2001; 9:21:16MT - usagold.com msg#: 49529) ge: LBMA lease rate http://www.lbma.org.uk/2001gofo.htm Looks like the gold lease rate must be the right-hand column: LIBOR minus GOFO. Maybe slightly different from Kitco because of different markets/time of day it is set? Still shows backwardation. (Just LOVE that word. Don't get the opportunity to learn new vocabulary very often these days.) ge (3/7/2001; 9:07:54MT - usagold.com msg#: 49528) Confused about lease rates Do LBMA & Kitco report different rates, or am I missing something?LBMA link http://www.lbma.org.uk/2001gofo.htmKitco link http://www.kitco.com/market/LFrate.html Rhody (3/7/2001; 8:56:09MT - usagold.com msg#: 49527) Lease Rates Both gold and silver lease rates are surging this morning.Gold's one month rate is up 1.57% This is huge, inthat it reduces the forward rate to just over 1%, and thatis no wwhere near the yield necessary to compensate forinflation in a gold carry scenario. So this leased goldis not for investment purposes, but for control. As fastas it is leased, it is either dumped on the spot market,or used for delta hedging derivatives (wow, is that dangerous!) If this carries on to the end of theweek, we may be on our way. This is getting very expensiveas a means of controlling the spot gold market.Meanwhile, one year rates are up only .45%, so the backwardation has increased significantly as well. Minesare hedging (Barrick, Anglogold?) at 20 year lows herebut it must be to protect their hedge exposures. Themines are not a goldbug's friends. Silver is beginning to mimic gold, only not as extreme.This implies that silver is not in crisis illiquidityyet, but it too will blow. The mere fact that silveris acting like gold here is proof that the powers of fiatfear this metal as a commodity money nearly as much as they fear gold as a commodity money. Is there any greater proof of a manipulated market than this lease rate pattern. Lease rates are screamingdire metal shortage, yet the spot price drops. Thefinancial system must be really unstable! USAGOLD (3/7/2001; 8:22:01MT - usagold.com msg#: 49526) Clarification: How to Get to "WHY GOLD, WHY NOW" http://www.usagold.com/Order_Form.html Newcomers: There may be some confusion about my P.S. below. To read "WHY GOLD, WHY NOW" and an in depth treatment why we thought "The Lull in the Gold Wars* Might Be Temporary" you have to go to the Daily Market Report page and then the Commentary & Review page which can be accessed there.Entry requires registration, which can be secured on a trial basis by going to the link above.Thank you and sorry for the confusion.*(of the past few days) USAGOLD (3/7/2001; 8:14:00MT - usagold.com msg#: 49525) Today's Commentary: Confirmation of Tight Gold Supply?? We Think "Yes" http://www.usagold.com/onlinestore/special.html 3/7/01 www. usagold.com. . . . . On Monday, this Commentary & Review suggested that if the Bank for International Settlements was indeed in the gold lending market as some suggested (though we had our doubts) then their presence was likely to be temporary. Again yesterday, we re-worked the theme to say: "Lease rates remain at the historically high end of the range this morning indicating a continuation of tight supply situation. The stubbornly high lease rate might be an indicator that the lull in the gold wars, which followed late February's big run-up, might be temporary." Well, this morning lease rates nearly doubled with the one month going from 2.47% to 4.46%. The price of gold rallied with the lease rate. This is confirmation of an important trend, my fellow goldmeisters, and a strong indicator that our analysis from the beginning that a gold shortage was underway appears to be correct. We do not know how far this will go -- whether or not this is the big one -- but if you have been thinking about adding to your holdings or beginning your gold diversification, now would be a good time to step up that interest with at least a partial fulfillment of your needs.P.S. I will leave yesterday's report posted for your review and I've re-posted the BIS centered article below it. For our newcomers, we extend our welcome and invite you to read WHY GOLD WHY NOW down the page.P.P.S. It is a happy coincidence that we were able to reserve a fairly nice sized hoard of the German 20 mark gold coins a few days ago. This would be a good addition for those of you who have a strong position in the pre-1933 already. It would also amount to a good start for first-timers as at least part of their order. For consultation, please contact either George Cooper or myself. Those interested in placing orders of less than 10 ounces are requested to contact Marie Ballard at our Small Order Desk. (Same number, just ask for Small Orders) We expect today to be another busy one. Please be patient if you are placed on hold since the retrenchment of lease rates will be a buy signal for a large number of gold buyers. Michael Kosares800-869-5115 You can also order on-line by going to the link above. Mr Gresham (3/7/2001; 8:08:58MT - usagold.com msg#: 49524) Working-kirk I don't know how to say this without sounding clumsy, perhaps, but: It is an honor to be in your company, Sir. Cavan Man (3/7/2001; 8:02:16MT - usagold.com msg#: 49523) ET "Let freedom ring." TheStranger (3/7/2001; 7:59:40MT - usagold.com msg#: 49522) One-month Gold Lease Rates Back Above 4%, Backwardation Continues http://www.kitco.com/market/LFrate.html See for yourself. Knallgold (3/7/2001; 7:00:24MT - usagold.com msg#: 49521) New Gold Market As you know,GrailTide made a guess recently:Jo'burg,Dubai,major European financial centers and Shanghai will create the EBES (EuroBullionExchangeSystem).In China it was unclear then which city will participate-now it is announced ,Shanghai.What if this was the only guess he had to make?The rest of it ready for the go? ET (3/7/2001; 6:59:08MT - usagold.com msg#: 49520) Lew Rockwell http://www.lewrockwell.com/rockwell/americanopinion.html From the article;"We live in times that are both despotic and revolutionary. We know what despotism means. Never before has any people lived under a government this well-funded, this technologically sophisticated, this well-armed, which daily undertakes activities that would have been inconceivable to governments of ages past. The great tax and political revolts in history occurred under regimes that mostly look like paradises of liberty by comparison. "We shell out 40 percent and more of our income to fund a government to oppress us with its regulations and routine invasions of our private life, to erect and run schools to which we are loathe to send our children, to engage in far-flung wars that create nothing but wreckage and death, to gouge us with their mail and utility services, to seize or guns, to fund welfare schemes and entitlements that drain life from economic affairs. "An even greater loss consists in what we do not see. How many innovations have been lost due to regulations? How many businesses have left their plans unfulfilled due to discrimination lawsuits and taxes? How many good minds have been lost to the public-school system? These are the sunk costs of statism, and they are incalculable." ET (3/7/2001; 6:58:57MT - usagold.com msg#: 49519) European Despotism http://www.telegraph.co.uk/et?ac=001851641145319&rtmo=3SSxHwYM&atmo=99999999&pg=/et/01/3/7/weuc07.html From the article;"THE European Court of Justice ruled yesterday that the European Union can lawfully suppress political criticism of its institutions and of leading figures, sweeping aside English Common Law and 50 years of European precedents on civil liberties. "The EU's top court found that the European Commission was entitled to sack Bernard Connolly, a British economist dismissed in 1995 for writing a critique of European monetary integration entitled The Rotten Heart of Europe. "The ruling stated that the commission could restrict dissent in order to "protect the rights of others" and punish individuals who "damaged the institution's image and reputation". The case has wider implications for free speech that could extend to EU citizens who do not work for the Brussels bureaucracy." WAC (Wide Awake Club) (3/7/2001; 6:57:11MT - usagold.com msg#: 49518) BOE behind rally? What Rally? Have a look at site MONEYWEB.CO.UkThere is an article in resource section askingIS Bank Of England behing Gold Price Rally? Pandagold (3/7/2001; 6:28:46MT - usagold.com msg#: 49517) I would go along with most of what Ackerman says www.gold-eagle/gold_digest_01/ackerman.030801.html Felt this to be of interestOf Babes, Bear Traps and BullionSometimes we should cast aside our charts and listen closely to what Wall Street is saying. Then leap to do the opposite. Yesterday, for instance, there came such a potential telltale from The Street, Circe-like, in the form of a stunning blonde who held forth briefly on CNBC. She was seated behind a desk, so there was no judging how well she stacks up against the reigning callipygian of moviedom, Jennifer Lopez. But above the waist she was very nearly the equal of Charlize Theron, or the young Tuesday Weld. Or perhaps Mod Squad's Peggy Lipton. Pressed into a public relations role by a retail institution whose name I did not think to write down, this vision of heaven made as improbable a Wall Street bear as any we could have imagined. Yet, the Dark Side was the ostensible substance of her message, which took a deeply skeptical view of Amazon's unwonted, 2 5/8-point leap earlier in the day. Putting aside our suspicion that her employer has probably been touting Amazon's virtues throughout the last 50 points of its decline, we couldn't help but remark the fact of their pointed reluctance to view the company's shares as the perfect candidate for a meteoric rally. Traditionally, is it not the role of the retail analyst to vent his suspicions of a dead-cat bounce when a stock that has fallen from $112 to $10 in a little more than a year summons the gumption to rise from the dead?True, Amazon's surge may prove to be nothing more than the bear blip so many seem to suspect. But when it is greeted with such blunt incredulity by Wall Street's best and brightest, it behooves us to take note, in contrarian fashion, of other possibilities. Such as: Maybe this rally is the real thing. Moreover, perhaps it presages a broader upturn in stocks that have been beaten down nearly as hard as Amazon. We should not be overly eager to infer this is so, but neither should we reject it out of hand, as our Wall Street centerfold evidently has. To state the case more succinctly, we should be prepared to give the bull the benefit of the doubt, at least for the next 4-6 weeks, if the broad averages gain upside momentum in each of the four sessions that remain this week. Accordingly, my minimum target for the S&P 500 futures would be 1320.00, mid-way through an ugly downside gap on the daily chart that was made in mid-February. If the March contract can close above 1320.00 by Friday -- with the stealth of a big cat lengthening its stride as it closes on its prey -- a fine trap will have been sprung on shorts, and they will be panicking from the opening bell next week to get 'em back. We shall see. (Late note: A repeat of the aforementioned CNBC segment reveals that Wall Street cuddlebun is one Sara d'Eathe, representing Thomas Weisel Partners.)Meanwhile, it is not too early to consider what we shall do once this bear rally has runs its course and stocks resume their descent into the abyss. Gold bugs in particular should already be forming some useful ideas, given the promising surge of bullion futures from mid-February's lows. Gold's further resuscitation will depend, of course, on the condition of the dollar, which after a decade-long bull market is finally starting to show signs of fatigue. Expect it to linger, then to gain momentum later this year. I have long argued that the dollar's strength in recent years has been driven, not by global trade in goods and services, as in generations past, but by demand arising from leveraged financial transactions. This is self-evident, given the fact that a world GDP approaching $30 trillion has given rise to a dollar-denominated derivatives market exceeding $100 trillion. The ratio has a close analog in the U.S. stock market, which in recent years has traded a daily dollar volume of more than three times the daily GDP -- a fact of which Alan Newman of H.D. Brous has made much in his highly regarded newsletter, Crosscurrents. From this relationship we might infer that the dollar's eventual fall from grace will be similar in demeanor to the stock market's. Which is to say, it will occur in rolling fashion, with steady losses first against the euro, D-Mark and British pound, then against a basket of relatively weaker currencies, most significantly the yen. As this process unfolds, gold should remain buoyant at the very least. But in another 6-12 months or so, when the dollar and the still-strong blue chip stocks begin to plummet in unison, gold will take off from what by then will be a base near $300. Given the huge amount of forward hedging by bullion producers, we should expect spot to reach $420 without even drawing a breath. Thereafter, it will quickly make up for the disappointments of the last two decades.By Rick AckermanSpecial to The Sunday San Francisco ChronicleMarch 8, 2001Author/analyst Ackerman contributes a regular column to the San Fransciso Chronicle. He also forecasts stock, index and commodity futures prices for market professionals in his daily newsletter, Black Box Forecasts: www.blackboxforecasts.com WAC (Wide Awake Club) (3/7/2001; 5:43:32MT - usagold.com msg#: 49516) Ashanti cuts losses, reduces debt http://www.ftmarketwatch.com/news/story.asp?guid={E8F64758-4D0D-459C-BBA4-57AD48EA1FF7}&source=yahoo1 LONDON (FTMW)-- Ashanti Goldfields [UK:ASN] [US:ASL] has overcome heavy losses from hedging against a gold price rise in 1999 to announce a reduction in both losses and debt last year.The Ghana-based gold mining company's hedge book of derivatives, which brought the company close to bankruptcy at the end of 1999, has since turned positive as the price of gold has dropped. See story on FT.com. The company's shares are listed on the London Stock Exchange but were not trading on Wednesday morning (see FTMW chart). The stock rose 0.78 percent to $2.58 on the New York Stock Exchange on Tuesday.Ashanti reported a narrowing in its 2000 pretax losses after exceptionals to $130.8 million, from a $183.6 million loss the year before. Year turnover was flat at $582.2 million, compared with £582.1 million in 1999. Meanwhile, the company said annual gold production rose by 11 percent to a record 1.74 million ounces in 2000. Chief executive and group managing director Sam Jonah said: "The group exceeded its mid-year revised production and cost targets for the full year in an environment which remained difficult for the industry as a whole." He said that it had been a challenge to reduce debt at the prevailing gold price, but the sale of 50% of the profitable Geita mine to AnloGold for $205 million, had helped cut the company's gross debt level from a peak of $693.3 million to $365.7 million. Looking ahead, Jonah said Ashanti still faced a "formidable task" in reducing its debt. And he admitted the company was anticipating a shortfall in planned production targets for the first quarter of 2001 due to temporary production difficulties. Pandagold (3/7/2001; 5:13:57MT - usagold.com msg#: 49515) Below As you will have guessed the word is 'important' not impotent Pandagold (3/7/2001; 5:12:11MT - usagold.com msg#: 49514) China/gold I forgot to add - so now we have a date - June. Not much time to make your decisions and get stocked up on those Pandas, or whatever takes your fancy. The Chinese population is over 1.000,000,000, and rising. And what is more impotant, the country and its people are getting richer which is a precursor to gold investment.Have you also noted the gold purchases in Taiwan? Topaz (3/7/2001; 5:06:09MT - usagold.com msg#: 49513) A Yen for Gold. http://www.kitco.com/market/LFrate.html Rates moving up again (4.2%ish) Hist precedent (recent) 29 Sept 1999 = 9.93% (for 1 day only) 4's either side - Libor is the constant = 5% ish, Gofo CAN go negative.POG on an upswing. Pandagold (3/7/2001; 5:04:46MT - usagold.com msg#: 49512) China and gold - latest http://www.futuresource.com/cgi-bin/art?010307/004430 FWN: 004430 CT Precious Metals Update: China Aims to Set Up First Gold... Mar. 7-MAR-- (BridgeNews) March 7, 0651 GMT/1551 JT.................................................................TOP STORIES:Hong Kong Press: China aims to set up first gold exchange in JuneHong Kong, March 7 (BridgeNews) - China is aiming to set up its firstgold exchange in Shanghai in June, which will end the half-centurymonopoly on gold trading held by the People's Bank of China (PBOC), thecentral bank, the Chinese-language Beijing-funded daily Wen Wei Po's HongKong edition reported Wednesday, quoting Dai Xianglong, the director ofthe PBOC, as saying.( Story .11181 )Hecla sees 2001 silver output steady with 2000; higher pricesNew York, March 6 (BridgeNews) - Hecla Mining Co. expects silverproduction from its major mines in 2001 to be similar to last year'slevels, company officials said Tuesday. While opportunity to make money inthe gold market is very limited in today's environment, silverfundamentals continue to look favorable and prices should perform betterover the next few months, they said.( Story .18877 )Gokhran sees Russia's 2001 gold output up on year at 147 tnsMoscow, March 6 (BridgeNews) - Russian gold output is likely to total147 tonnes this year, a senior official at Gokhran, the State Depositoryfor Precious Metals, said Tuesday. According to the Union of GoldProducers, Russia produced 142.5 tonnes of gold in 2000, up 13.2% on theyear. Gokhran also said it bought 25 tonnes of gold last year and hadalready signed contracts for purchasing 18 tonnes of gold and 40 tonnes ofsilver this year.( Story .17637 ).................................................................OF INTEREST:Taiwan Feb gold imports at 10.830 tonnes vs. 5.262 tonnes in Feb 00Taipei, March 7 (BridgeNews) - Taiwan's gold imports totaled 10.830tonnes in February 2001, compared with 5.262 tonnes in February 2000, astatement released by the Ministry of Finance Wednesday said.( Story .6016 )Hong Kong Press: Tycoon Li to buy stake in gold refinerHong Kong, March 7 (BridgeNews) - Hong Kong tycoon Li Ka-shing'sCheung Kong (Holdings) and Hutchison Whampoa were to increase stake ingold refiner TemFat Hing Fung and its two subsidiaries, RNA Holdings andCan Do Holdings, the Hong Kong Economic Journal reported Wednesday. Thenewspaper quoted market sources as saying that the consideration would beapproximately H.K. $180 million.( Story .23604 )Japan's FX, gold reserves total $363.690 billion in FebruaryTokyo, March 7 (BridgeNews) - Japan's foreign currency and goldreserves in February totaled $363.690 billion, down $529 million from amonth earlier, the Finance Ministry said Wednesday. A key reason for thefall in foreign reserves was the decline in the value of non-U.S. dollarassets, a ministry official said.( Story .697 ) Pandagold (3/7/2001; 2:54:22MT - usagold.com msg#: 49511) Tree in the Forest Tree in the ForestI agree that things can always get out of hand. It could have done during the Gulf conflict — not from Iraq, but from the Arab and anti-US world.But we are always in danger as long as the affluent West continues to rip off the third world (what a terrible euphemism), or a certain power hungry small ME nation wants to dominate the region, and deny people their human rights to live with hope and dignity in their homeland.When you push people too far and they have nowhere else to go they will seek remedies, or revenge in ways unimaginable.Think about it. You don't need nukes or rockets to fire them. All you need is a deadly virus which could be contained in a small phial in the pocket.There need be no declaration of war, no warning. We in the UK are witnessing how a deadly virus can quickly spread among cattle, and yet this disease is well known to the world, and has been for a long time.There could be people living among us now already equipped and only waiting for a signal. These people have nothing to lose, we have made it that way, and they would be prepared to die for their cause. This is the real danger -even if we won the 'fighting' war.If I see gold rising significantly before towards the end of the year, and until the Euro is around level pegging with the dollar, and holding, then I will get a little worried ( as much as I have a financial interest in an improved POG).What will be, will be. Fear not, as Sophocles said "To he who is in fear, everything rustles" Belgian (3/7/2001; 0:57:35MT - usagold.com msg#: 49510) Gold-story with a "motive" leading to mutual interests....(short version) Febr.'96 POG fails to break trough 414$ after an abnormal 2 years topping pattern. POG, was on its way up and something stopped it, in a very particular way. What ?EMU was on the rails. Different European countries, where each one had a complete different Gold-History. A very strong divergence in their Gold-reserves, far as many different reasons. This divergence had to uniformised. Some Gold-Backing was decided for the Euro (ECU). The Gold vaults were opened and the reshuffling started. The previous Gold-reserves had to be aligned and homogenisased.European nations had TOO MUCH GOLD ! An unkown amount of above-ground gold, became suddenly available FOR SALE !The ideal MOTIVE for gold-actors to spin on a win-win strategy. Here we enter the oligopoly arena...To be continiued...duty calls. working-kirk (3/7/2001; 0:49:45MT - usagold.com msg#: 49509) (No Subject) Journeyman, you're talking nonsense.First your chances of being robbed by a street gang is a lot more than being stuck by lightning.You asked when was the last time you were confronted by a street gang? Today. Actually I confronted them. They were confronting somebody else. They were asking some lady for spare change and it was just setting them up to robbed them. I told them quietly to leave those ladies alone. They did but then I fought with them before. You see, I grew up with gangs and violence and worse. I am not the toughtest nor the meanestbut,... I am a black male who grew up in the worse ghetto of Boston and I've managed to pass my 40 birthday without ending up in jail or dead. To my knowledge, I am the only one who beat the odds against me.So I not only know how to fight but I am very very lucky.Would you say you would be as lucky facing the same situation. There are others. You could have been a child growing up in an war-zone, or the poverty of the third worldI think you're making a feww basic mistakes. First you assume the risk of assault by is gang is low and so it probably won't happen to you. Second I get the impression you'll be able to fight them off.Slingshot listed these rules> The bad guy wants what you have.> You will always be attacked when conditions are least > advantages to you and most advantages to your attacker.> If it can go wrong, it will.> Proper preparation prevents poor performance.> GO LIGHTLY.> Your most powerful weapon sits on your shoulders.> You reap what you sow.> Look for trouble and you'll always find more than > you can handle.> There is always someone sharper, tougher, meaner, > nastier, Hungrier, and more prepared than you.> To Note; On human nature. If you ever been confronted > by a street gang. It can get very violent in a heartbeat. Those are wise rulesI would add my own personal observations1.) No matter what much violence or chaos you have encountered in your life, you will always be very surprised when the next episode pops up. Accept that you will be surprised. That way, you will be quicker to act. Most people freeze because they are surprised. It's part of the flight or fight instinct. You freeze and your attacker have the advantage. So When I am surprised I start to fight immediately. That surprises your attacker because most people do freeze. When they are surprised, you then have the opportunity to run away safely or continue fighting. (By the way, if you haven't been in these situations if best to fork over the money. Like Slingshot says: It can get ugly REAL Fast.2. Using your head and thinking is good. Instinct is better! When you think, you try to go through several options. Instinct immediately picks one and it is the one that will get you through alive with the least amount of harm. Note: I didn't say unharmed. Sometime the situatiion you're in is so bad, there is no way to get through it unharmed.The best book I read about using your instinct in any danergous situation is by Gavin Becker and it is called: The Gift of Fear.In today's situation, my instinct told me several things. 1.) If I got invovled the gang would be surprised and wonder what my relationship was with these two women2.) Even through they were going to rob them the situation was: The robbery would have to take place fast and they would be pressed for time.3.) By my stepping up, I let the women and other know this was a potential robbery. These people like overwhelming odds. Even if noone else got involved the number of people who knew there was a robbery going on and so the odds would appear more evenThere have been other times when I've seen somebody being robbed and my instinct told me to grab the victim's hand and start running. I can never say what will happen but I do trust my instinctSince this is a gold forum I should reference gold in some way. At this point. Few people recognize gold. But if things get chaotic, you will need the same wits to keep your gold and you would have to in order to keep your life when being robbed by a gang. SInce I can't fortell the future, I plan to use the instincts I developed in street fights when paper money becomes worthless.Journeyman (03/06/01; 19:26:05MT - usagold.com msg#: 49499)> It's true, people DO get struck by lightening @slingshot msg#: 49490> All those things you suggest about the "jungle" > are good advice. But you rarely need them. I've> carried what most people would consider extremely > large amounts of cash around the world on my person> for over twenty-five years and have never been robbed. > Neither have any of my associates. Most cops retire > without ever firing a single shot in the line of duty.> How many times have you confronted a street gang? > When was> the last time?> Danger of violence is a matter of frequency, and the idea > we are all in imminent danger is the monument to > government-related violence - - -> AND the media's "dramatic imperative."> AND a large proportion of dangerous street gangs persist > because they are protecting their drug turf. In fact, a > large percentage of the "crime" that actually exists, > perhaps more than 60%, does so because a certain very > arbitrary group of drugs have been turned into so-called > "controlled substances."> Relax. Even so, you probably won't be robbed.> When we carry money, we worry more about being robbed by> "organized crime with a flag." A few of my associates > have been robbed by these highwaymen.Regards,Journeyman ViewYesterday's Discussion.
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