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ARCHIVED DISCUSSION FROM 4/7/2001 All times are U.S. Mountain Time (Yesterday's Discussion.) Artie Farkle (04/07/01; 23:41:54MT - usagold.com msg#: 51567) (No Subject) Hello all.It's time to stop looking down your noses. Try looking up and around. People from California for the most part are just like you and I. They get up in the morning and go to work. They are farmers, ranchers, painters, carpenters, store clerks, bankers, teachers, truckers, moms and dads and........... How much electricity does Kansas produce? How many pineapples are grown in New York? How much oil does Hawaii produce? Where are your shoes produced?I'm sure even Grizzly Adams Was dependent on others for salt.In the USA, we have so much. Yet, we still feel it is appropriate to pump the mighty Colorado River dry, leaving nothing for Mexico.What's my point? We are all in this together and, we all pay in one way or another, even Californians.AFPS Raisins are not grown. They are created by drying grapes. Prunes are grown on trees. Al Fulchino (04/07/01; 21:13:33MT - usagold.com msg#: 51566) TedW Bravo Ted, its time to enter the temple and upset the minds of ALL those who lie to us, from the highest politician, both national and local. It's time to upset the minds of our national enemies. It is time to stand up to friends and relatives, who want us to be as asleep as they are, slumbering amidst their excessive and hypnotizing use of coffee, tv, music, drugsand various religions that are so often misused and such. Utilizing these things to keep themselves and their world a creation of their own image and us subject to them. It is time to not only question them but to challenge them.It is time to say " Sorry, Mr Jesse Jackson, we don't believe you. Sorry, Mr Daschle, sorry, Mr Putin, sorry Mr drug pusher, Mr tax and spend, sorry Ma, I love you but repeating the rosary is no better than a mantra, sorry Mr Public Educator, the odds are that you and your staff are not good for my son and daughter....and on and on and on. This could be fun! Rockgrabber (04/07/01; 20:40:33MT - usagold.com msg#: 51565) Slingshot eheehHWEHWWH.... Guess what, us here in California are not near smart enough to but GOLD. We look to others to provide us everyhing we need. Like the good ol U.S.. We play all day!! Black Blade will tell ya. eheheh, Sorry. I find this all most fascinating. Everyone may laugh now, but if you are in the U.S., you might as well eventually be in California. We will get it going for ya! We have plenty of good ol fiat bucks in our pockets. Especialy when we get more credit(we love that stuff)((we never have to pay it back it seems)). Good ol US of A, come to California where the living is easy. HAHAHA AT least for now. tHINGS SURE DO change dont they. AT THE CURRENT MOMMENT WE HAVE A CHANCE TO BUT GOLD AT A PRICE NOWHERE ELSE IN THE WORLD CAN THETYBUY AS EASY AS US VanRip (04/07/01; 20:18:53MT - usagold.com msg#: 51564) Slingshot What gave you the idea that Peter Asher was from California? I believe he lives in Oregon and was just posting an email he had received. Didn't you read the first three lines of his post? slingshot (04/07/01; 18:43:33MT - usagold.com msg#: 51563) Rockgrabber Msg#51562 Hello Rockgrabber. It is nice to see a Californian come forth and defend his home state. You speak the truth when you say you are the TREND SETTERS. Trend setting is good for our country cause from one trend others spin off and ideas are exchanged. The past few years the trend from California are ones of Goverment intrusion and socialism. Hence myacquisition of GOLD. I do not know how long you have been to this forum, but, if you stay here long enough you sure learn plenty. If only we could set the trend for buying gold without some major disaster.Slingshot Rockgrabber (04/07/01; 17:26:36MT - usagold.com msg#: 51562) I am from CALIFORNIA I love using energy. I look at the rest of the states as deep down wanting to be like California. You love us. We make your trends for you. Just like high energy rates, or clothes. You look to us for your thoughts. Even though our thoughts are towards vanitity. The worlds are toward the same thoughts just a bit behind. You will all catch up. Are you disapointed you cannot pay higher rates? Dont worry you will catch up. EVERYBODY LOOKS TOWARDS CALIFORNIA FOR THEIR TRENDS, SO WILL YOU. HAHAHAH Mr Gresham (04/07/01; 17:17:57MT - usagold.com msg#: 51561) USAGold, Belgian, Lamprey MK -- yes, Japan. The T-bonds are the kick-out-the-jammies belweather of crisis. Why Japan has been nice enough to hold on for so long? Thinking they can win the musical chairs game, when most of the chairs have been already removed? An offer they couldn't refuse -- (until now, when there's nothing left to lose?)In economics, there's statistics -- and there's institutions. We tend to know less about the internals of the institutions (they hide 'em well) and they pop when there's nothing left to hide. (If you've ever been shown to the office door of your job disappearing at a bankrupting company under uniformed guard, you'll know what I mean.)If ever there were a few new LTCMs moving toward center stage, it's now. And once one crisis pops, there's less onus on those who reveal their little piece of the breakdown puzzle. "You go first..." "No, you." "No, you."Belgian -- your posts get better and better. FOA does not give us the steps that may go on in Europe. It may catapult into his scenarios, but there are many milder outcomes that will give us a POG-leap anyway, and you describe those well.Yes -- we would do well to study the British Pound loss of status as the predecessor to USD dethronement. It's the nearest example, and I'm surprised FOA hasn't referred to it very much, if at all. We could, of course, do our own homework in researching and sharing it.Lamprey -- thanks for the link yesterday to the Dow Crash watcher site, whatever the name was.Whoooo -- I was so sleepy -- about to nap -- and now the brain is stimulatin' itself awake around you guys again -- still can't take the time out from taxes to do a full reading, which I fell off from around the time of those wonderful contest entries. Hope I can catch up... Parsifal (04/07/01; 16:37:35MT - usagold.com msg#: 51560) Belgian, msg# 51556, Washington Accords We can entertain many different thoughts in an effort to make more sense of the Washington Accords. I do not claim to have answers, but let's try these thoughts.The Washington Accords can be seen to be like a group of bullies who promise to only terrorize the weaklings twice a week instead of every day. In addition, the terrorization will be done with quotas, with a schedule, and in an orderly fashion. The weaklings will be terrorized in a much kinder, gentler way. There now! Give those Washington Accords bullies big hugs. They are really on our side, no? Lafisrap slingshot (04/07/01; 15:56:02MT - usagold.com msg#: 51559) ELWOOD MSG# 51558 You didn't know? California has the highest number of prune and raisin pickers in the world. They also confuse pretzel nuggets with Gold Nuggets. Slingshot Elwood (04/07/01; 15:18:37MT - usagold.com msg#: 51558) Earth to "The Californians" Hey, you forgot one. You also are the world's leading bullsh*t producer, but maybe you just meant to include that in the "fruit and nuts" category. Feel free to keep it all. We'll find someone else who is willing to pay market rates for our electricity.By the way, how do you "grow" prunes and raisins? I've never heard of a raisin farmer. What's the deal there?As to the aircraft, don't worry. Once the lights go out they'll all be filled to overflowing with people on a one-way trip to the real world. So, if you expect to keep your Silicon Valley leadership, someone better grab Gray Davis and get him in a Visual Basic class fast.How many California legislators does it take to change a light bulb?*******Please excuse the off-topic post. Just having a chuckle while enjoying these historically low gold prices. Old Yeller (04/07/01; 15:14:41MT - usagold.com msg#: 51557) The real Matrix? http://www.hubbertpeak.com/duncan/olduvai2000.htm Yikes,I'm hardly a paranoid gloom and doomer but this looks pretty scary.Hopefully,the California crisis will lead to increased awareness of sustainable energy use.Thanks to Jerry Russell at prubear forum for the link. Belgian (04/07/01; 14:02:29MT - usagold.com msg#: 51556) AUSPEC-tator Sorry, haven't the Pound decay's details. But the common ground with the dollar was its (would be) world domination.To be compared with the dollar-empire. Europeans had this very strong and deep perception of an unvincable worldcurrency, that was the British Pound. Of course, I am hoping it had something (or everything) to do with the C. Rhodes origins and the South African Gold ?When the empire crumbled and America grew as nrw epicentre, the pound found refuge in the dollar's schadow. Maybe a similar story is in the make for the Euro...the new born child.It might be interesting to find out the degree of "unproductiviness" of dollar-debt against euro-debt.Because both debts are of a different nature. Because there are many gradations in debt : good and productive - bad - total unproductive. Much of the european (welfare) debt is recycled through very high taxing. Much of the debt is to be found on private savings-accounts. As if the majority of (welfare) citizens feel somewhat quilty (happy) of having accumulated state-community money for nothing. A possible explanation for the high savings-rate. This in sharp contrast with the dollar-producers.The overvaluation of the dollar is perhaps not the result of the nominal amount of debt but rather the extreme bad quality of that debt. Debt that is not allowed to default cost what it may cost. Continious debt roll-over, with no way out. This roll-over is causing the currency erosion nightmare. The awakening is 100% with shock. This awakening is not at wake up time but at any given moment in the middle of the night.The major problem for the euro is the lack of promotionnal qualities of the semi-divided EMU. I hope they will use the gold-argument at the right moment. It cannot be used today, without shocking the dollar. And certainly not whilst CBs are still selling and shout about each sale. But if Hashimotto has already used the gold-argument in '97...why wouldn't the europeans not dare to come up with it at the right moment ? Is the WA, maybe a Hashimotto in disquise ?There must also be an explanation why non europeans, subscribed the WA. Mutual interests up until the conflict you mentionned. Political Metal...remember !POG will reach approx. 300$ at dollar/euro parity.It only takes another 15% dollar decline (versus euro) to reach the "all or nothing" level of 350$ !The REAL REVALUATION of Gold does not necesarry need a crashing dollar. Once POG is liberated from that past 21 year desastrous perception...it can revalue against the past global expansion, with or without a dollar crash.Up until now, everything has been organised to prevent any eye-opener to pop up. Later we might probably accept the reasons why it has been orchestrated. Oucchhhgggg. I'm scared. Hill Billy Mitchell (04/07/01; 13:06:57MT - usagold.com msg#: 51555) tedw @ # 51535 - America and Amerika sir,Thou hast said.Very respectfully,HBM slingshot (04/07/01; 12:58:55MT - usagold.com msg#: 51554) Peter Asher Msg # 51543 Kalifonia E-Mail Read your list of items California supplies to the country and was informative. Though not one item listed I need for my survival. You, being from the Golden State made no mention of Gold and in so, confirms the Kalifornians mindset.Best described by the Grasshopper who danced and played all summer. Drink your wine and eat your nuts. The Party's Over!I do not want to sound condensending. Just that I feel Your Reality is looking you straight in the face. Thank you Peter Asher for sharing your E-mail with us.This is an example of the beginning. Wait till the Hard Times set in. GOT GOLD?Slingshot Black Blade (04/07/01; 12:26:07MT - usagold.com msg#: 51553) Experts: PG&E 1st Salvo in Legal Battle http://biz.yahoo.com/rb/010407/business_california_scenarios_dc.html Snippit:LOS ANGELES (Reuters) - Could a federal judge override California authorities by raising electricity rates for the state's energy-hungry consumers? A section of the 1978 federal bankruptcy law provides that unless utilities have assurance that they will be paid, they can withhold services to a failed company. Now power generation companies could turn that section of the law against PG&E, claiming status as utilities for themselves as a kind of trump card in negotiations, said Kenneth Klee, a partner in the law firm Klee, Touchin, Bogdanoff & Stern.Black Blade: Looks as if the rate payer in California will probably have no choice now. Utility rates are going much higher. The question is how well will the California economy fare under sharply higher energy costs and more importantly how will the economy of the entire US weather the energy crisis storm. Gotta go for a couple of days. It's that time of year - Turkey season - and a friend just informed me that he has seen some birds on his land. I'm off to "whack some turkeys." Cheers! Old Yeller (04/07/01; 12:17:08MT - usagold.com msg#: 51552) More on debt woes http://www.contraryinvestor.com/mo.htm I can't remember if this has been posted here,but the latter half of the commentary has some very insightful comments and statistics on the current debt "problem". Black Blade (04/07/01; 12:14:04MT - usagold.com msg#: 51551) Bank Stocks Fall After PG&E Filing http://biz.yahoo.com/rb/010406/business_financial_banks_dc_5.html Snippit:NEW YORK (Reuters) - Shares of major U.S. banks were down on Friday after California utility PG&E Corp.'s (NYSE:PCG) Pacific Gas and Electric Co. unit filed for bankruptcy protection, owing about $9 billion to creditors, including billions in unrepaid loans from banks.Black Blade: It didn't take long. The inevitable consequence of the filing is widening to the financial sector. Monday could get - here I go again - "Interesting." USAGOLD (04/07/01; 11:53:06MT - usagold.com msg#: 51550) Attention Mr. Gresham: Hashimoto Watch http://dailynews.yahoo.com/h/ap/20010406/wl/japan_politics_14.html Between pruning projects and just before the Masters, I found this digging around for more systemic risk information. (Plenty of gardening to do this Spring) This from Associated Press on the situation in Japan:"TOKYO (AP) - Prime Minister Yoshiro Mori told his Cabinet on Friday that he would step down, signaling the end of one of Japan's most unpopular governments since the end of World War II. . . . . The apparent front-runner to replace Mori is former Prime Minister Ryutaro Hashimoto, who served from 1996 to 1998...." 4/6/01His now famous quote as you reposted it a month or so ago:"Our American friends were paying little attention to maintaining the value of the U.S. dollar as an international key currency, and we were tempted to sell off (bond holdings). In terms of funds, it is true that we have not really made the right choice, shall I say, or advantageous choice. By selling Treasury bonds, we might increase our gold holdings. That is an option we had. Among countries around the world, there are many who hold their foreign currency reserves in the form of U.S. Treasury bonds. As long as they continue to maintain the U.S. government bonds -- even when the U.S. dollar is weakening relatively – it is because these countries are holding onto these government bonds that the U.S. economy is being maintained. Many people, in fact, don't realize this. `I hope the U.S. will engage in efforts and cooperation to maintain exchange stability so that we will not succumb to this temptation to sell off government bonds and switch our foreign reserves to gold." --- Former Japanese Prime Minister Hashimoto, 6/97 justamereBear (04/07/01; 11:40:50MT - usagold.com msg#: 51549) Peter Asher One thing these type of missives often fail to address is the wee fact that one could pay the going rate, and supply would likely be more plentiful.j'Bear Black Blade (04/07/01; 11:36:04MT - usagold.com msg#: 51548) RE: USAGOLD and Nuclear Power My old Uranium geologist friend may have been expressing "wishful thinking" and a longing for the "good old days" of uranium exploration. California has a history of operating nuclear power plants with mixed results. Diablo Canyon nuclear power plant on the coast is still in operation, however, it reportedly sits atop an earthquake fault. Then their is the bungled Rancho Seco nuclear power plant near Sacramento that never went into full operation because of building design errors and cost overruns. Today it would be almost impossible to build a nuclear power plant in California, especially after the somewhat minor core meltdown at Three mile Island, the massive disaster at Chernobyl, and extreme environmental opposition. The French and Japanese have been able to successfully operate nuclear power plants without any serious problems. I would suspect that any construction of new nuclear power plants for the benefit of California, they would have to be built out of state. The political might of California could force the issue building nuclear energy farms in other states. There is the DOE Hanford facility in Washington state, The DOE Idaho National Engineering Labs (INEL) in Idaho, and DOE Rocky Flats facility in Colorado where there has been research into nuclear power and fuel rod refurbishing facilities (though Hanford and Rocky Flats are largely dismantled). At least the environmental "damage" has been done over the course of several decades and some may reconsider the suitability of these sites for further use. There is also the proposed low-level nuclear waste facility at Yucca Mountain near Mercury, Nevada. It would not be inconceivable that someday nuclear power plants may be approved for construction in the western US again. However, it has been about 25 years since construction permits for nuclear power plants have been issued. The environmentalists would still be opposed to any new nuclear power plant construction anywhere, however, the opposition would not be as great if these facilities were constructed outside of California. It is the "Not In My Back Yard" (NIMBY) type of opposition. The opposition is even intense in politically conservative regions as well. Over the last few years, the Paiute Indian Reservation in Skull Valley, Utah has expressed an interest in constructing a temporary low-level nuclear waste storage facility as a "pass-through" facility until Yucca Mountain is ready. The Republican Governor of Utah Mike Leavitt (sp) is opposed and has effectively isolated the reservation with orders restricting the transportation of nuclear waste on state roads. Many of the tribe are also in opposition to the proposal. Interesting since the proposed site is adjacent to the old Thiokol rocket testing site and the US Army Biological and Chemical warfare testing site at Dugway Proving Grounds where open air testing was conducted over several decades. You may recall the incident where a herd of sheep were "accidentally" affected by nerve gas in the late 1960's. The opposition to nuclear power plants would be intense no matter the political orientation of the region involved. I just don't see any other alternative and I think that the smaller politically weaker states will likely have to acquiesce to the desires and needs of the larger politically powerful states (in this case California). Of course most people do not understand nuclear power and they have visions of nuclear blasts and radioactive steam clouds in their back yards resulting in two-headed, three-armed and three-eyed babies being born. The technology for safe nuclear power plant construction and operation is possible but requires tight controls. Three Mile Island came close to being a clear disaster as a "hydrogen bubble" was forming in the containment building. However, the containment building did the job as designed. The overriding problem for Three Mile Island was the lack of training of personnel and the design of the control systems where the problem was difficult to identify. Surprisingly that problem was due to the design requirements forced on the facility by the Nuclear Power Regulatory Commission. The Chernobyl disaster was in a "Graphite" core design facility that no one in the world but the old communist states allowed to be built. Now we have calls from the secretary of Energy Spencer Abraham and Vice President Dick Cheney to consider new nuclear power plant construction. Considering the inability to produce sufficient NG and oil for power generation, and the clean air act that severely restricts the increased use of coal, I suspect that increased use of nuclear energy is inevitable.Your point about the nuclear power plants built by France along the German border is well taken. There is no love lost considering the history of the region. When the Berlin Wall was coming down and the two Germanys were about to be reunited, I recall the French saying: "Two Germanys are good, Three Germanys would be better."- Black Blade JMB (04/07/01; 11:33:20MT - usagold.com msg#: 51547) JOURNEYMAN The added arsenic in our drinking water will actually improve not only the taste but also the cooling of our internal liquids. It works kinda like anti-freeze. Keeps us cool in the summer and nice and toasty in the winter.As I'm sure you know, one of Bubba's last dirty deeds was to change the arsenic restrictions of our drinking water. Three days left in his pathetic final term of office and he pulls this stunt, the jerk! He knew about the shortage of electricity. He knew our air conditioners wouldn't be working. He also knew about the natural gas shortage and what was going to happen next winter. Don't worry, be happy....W has everything covered. He's the man with the plan. Cheers....hic... Old Yeller (04/07/01; 11:14:35MT - usagold.com msg#: 51546) Canuck;#51530 http://www.dismal.com/economy/releases/release_2k.asp?r=usa_credit This is the latest on the consumer side of the equation.We are well aware of how much weight the consumer has on GDP,as well as the hopes pinned on the consumer as the engine of recovery.Looks like some are getting painfully stretched with retrenchment in the future.I read the Credit Bubble Bulletin faithfully every Friday.I agree with some of your thoughts on it's length and the fact that Doug Noland often goes off on tangents that border on the theoretical.In other words,it is often too fuzzy.One snippet of this week's version,however'sure caught my attention.In his discussion of the PGE bankruptcy filing he had this to say:"This is now very much a systemic financial crisis."No qualifiers or fuzziness there,the end game looms. Tree in the Forest (04/07/01; 11:11:03MT - usagold.com msg#: 51545) Peter Asher, Elwood - The Contest Peter: Sounds like fighting words. Guess they want to secede. <grin> Well, here's our answer:How many California legislators does it take to change a light bulb?Five. One to screw in the bulb, four to screw the rest of us. Knallgold (04/07/01; 10:32:21MT - usagold.com msg#: 51544) BOR reserves http://www.cbr.ru/Eng/statistics/credit_statistics/print.asp?file=inter_res_01_e.htm#week Couldn't find the valuation number.But it is a good place to surf here.http://www.cbr.ru/eng/particularly speech by Welteke:http://www.cbr.ru/eng/today/publications_reports/print.asp?file=Speech_DBP.htm Peter Asher (04/07/01; 10:19:20MT - usagold.com msg#: 51543) None of my best friends are Californians And non of my daughters has married one, but in all fairness, they should have ther say too. The following just came in via the forward E-mail line.>Subject: Angry Californians>America has engaged in some finger wagging lately because California>doesn't have enough electricity to meet its needs. The rest of thecountry>(including George W. Bush's energy secretary Spencer Abraham, whowants>Californians to suffer through blackouts as justification for drillingfor>oil in Alaska's Arctic National Wildlife Refuge) seems to be just finewith>letting Californians dangle in the breeze without enough power to meet>their needs. They laugh at Californians' frivolity.>>Well, everybody. Here's how it really is:>>California ranks 48th in the nation in power consumed per person.>California grows more than half the nation's fruit, nuts andvegetables.>We're keeping them. We need something to eat when the power goes out.We>grow 99 percent or more of the nation's almonds, artichokes, dates,figs,>Kiwi fruit, olives, persimmons, pistachios, prunes, raisins andwalnuts.>Hope you won't miss them.>>California is the nation's number one dairy state. We're keeping ourdairy>products. We'll need plenty of fresh ones since our refrigeratorscan't be>relied upon. Got milk?>>We Californians are gonna keep all our high-tech software in state.Silicon>Valley is ours, after all. Without enough electricity, which you're>apparently keeping for yourselves, we just plain don't have enoughsoftware>to spare.>>We're keeping all our airplanes. California builds a good percentageof the>commercial airliners available to fly you people to where you want togo.>When yours wear out, you'd better hope Boeing's Washington plant cankeep>you supplied. There isn't enough electricity here to allow us toexport any>more planes than we need ourselves.>>And while we're at it, we're keeping all our high- tech aerospacestuff,>too, like the sophisticated weapons systems that let you sleep atnight,>not worried you might wake up under the rule of some foreign kook.Oh,>yeah, and if you want to make a long-distance call, remember where the>satellite components and tracking systems come from. Maybe you couldget>back in the habit of writing letters.>>Want to see a blockbuster movie this weekend? Come to California. Wemake>them here. Since we'll now have to make them with our own electricity,>we're keeping them. Even if we shot them somewhere else, the labs,printing>facilities, editing facilities, and sound facilities are all here.>>Want some nice domestic wine? We produce over 17 million gallons peryear.>We'll need all of it to drown our sorrows when we think about the factthat>no matter how many California products we export to make the rest of>America's lives better, America can't see its way clear to help us outwith>a little electricity. You can no longer have any of our wine.>>You all complain that we don't build enough power plants. Well, youdon't>grow enough food, write enough software, make enough movies, buildenough>airplanes and defense systems or make enough wine.>>This is your last warning, America. Lighten (us) up before it's toolate.>>Love,>The Californians Knallgold (4/7/2001; 10:09:02MT - usagold.com msg#: 51542) Canuck, see yesterdays post #51482 for the revaluation I hope its no April joke...Russia values gold at $300 ozRussian central bank gold stocks up on April 1MOSCOW, April 6 (Reuters) - The value of gold reserves held by Russia's central bank rose by $13 million to $3.767billion on April 1 from $3.754 billion on March 1, the central bank said in a statement on its Internet site on Friday. The central bank officially values its gold reserves at $300 per troy ounce. The bank's website (www.cbr.ru) said total gold and foreign exchange reserves rose to $29.709 billion on April 1 from$28.345 billion on March 1. The central bank's reserves include gold, foreign currency and Special Drawing Rights, an international reserve asset that isessentially a currency of the International Monetary Fund. auspec (4/7/2001; 9:58:19MT - usagold.com msg#: 51541) Bel-gian{t} Sir Belgian, many thanks for your post #51487 and your euro-spective, much appreciated. Still trying to figure out why you kept referring to the Titanic in relationship to the Dollar. Haven't you heard, from the MAN, that this debt is going to be retired in the far future?? :>}Your points in regards to the unfathomable debt, SYNYTHETIC entities, and stock market excesses all point to a very bad ending, granted. It still seems that a lot can go right {be manipulated} between here and there. These guys only wag the dog over sex scandals, not currencies, right?Your euro perceptions are masterful and the writing is clearly on the wall. Many Biblical prophesies see what is taking shape as "The Revived Roman Empire" because the Treaty of Rome initiated this union. I have watched it unfold for about 10 years, and you many more. A clear fascination.Yes, we carry *gold* because we know this will end badly. That is really enough to know in spite of not knowing how badly or when! Curious minds still dig deeper.My "final answer": It will end the way it is deemed to end. Likely with the loss of remaining sovereignty of these Divided {People} States of America, and the fall of the US Constitution. The Dollar is secondary to this goal.Can you provide details of the end stages of the reign of the British Pound Sterling? Of course, this was not a synthetic fiat currency as current ones are, so the situations are not the same. Current "DEBT LOADING has no precedent, that IS the overriding factor, thank you. Did the fall of the Pound precede the fall of the British Empire or vice versa? Debt levels?Let's look for the "common ground", shall we? "Waiter, I believe we'll have the 'BAD ENDING'".The end. auspec (4/7/2001; 8:48:26MT - usagold.com msg#: 51540) tedw Message # 51535 Indeed! Thank you, tedw, for elegantly stating that the Constitution holds trump over the Union! The Amerikans hold no respect for the Constitution and will see that "divided we fall". Journeyman (4/7/2001; 8:45:59MT - usagold.com msg#: 51539) Boy is that-all thought provoking!! @USAGOLD msg#: 51533 By the way, it takes ALL California legislators: 1 to change the bulb, the rest to crank the generators.Regards,J. Journeyman (4/7/2001; 8:35:19MT - usagold.com msg#: 51538) Hear, hear!! @tedw (4/7/2001; 7:56:28MT - usagold.com msg#: 51535) Regards,J. Journeyman (4/7/2001; 8:25:53MT - usagold.com msg#: 51537) Death Wish IV @ALL The Republicans must have a death wish. Or deep-cover Democraticstrategists. One of the first acts passed after the ContractWith America Republican victory was to eliminate funding forschool-lunches.Now the current Republican Admin. first wants to allow morearsenic in drinking water and then scrap testing school-lunchhamburger for salmonella!!They're on solid scientific ground - - - for your own burgereat'n peace of mind, for example, don't look up the _traditional_USDA standards for salmonella in burger - - - just hope they cookyour next Big-Mac thoroughly.It's kind of heartening, actually, to see them do the rightthing, namely get government and our stolen money out ofeverything - - - it's just that, as politicians, how could theynot know how these cuts would play in the media? And leave themfor elimination until last. In favor of things with much biggersubsidies, say corporate welfare, etc. Or things that would playbetter. Like eliminating the program to fund the remodeling ofPubs in Ireland to attract American tourists. Or $225 toiletseats.Or do Republicans do this on purpose to discredit the whole ideaof cutting government spending? Or is it a death-wish? Or deep-cover Democratic strategists?Regards,Journeyman Hill Billy Mitchell (4/7/2001; 8:15:49MT - usagold.com msg#: 51536) Black Blade @ # 51519 Perspectives Sir BBI have read on this forum on several occasions that California is the sixth largest economy in the world.An excerpt from your post follows: "…California's economy is 14% of the nations GDP…"HBM thoughts:When I read your post, your number 14% immediately passed through my left ear (small brain) and came out the other ear with a different way of stating the 14%. Because (14% and (1/7th) are roughly equivalent, my mental rephrase of your statement became: California's economy is 1/7th of the nations GDP.At first I thought, "Houston, we have a math problem: - How can California be 1/6th of the worlds economy and only 1/7th of the U.S. economy? That would make the U.S. economy larger than the world economy. Such a postulation being absurd I shuddered to think that maybe we on the USAGOLD forum had fallen off the same cliff as the CNBC talking heads; the cliff from which the descent is so far and so fast that one would be willing to say anything to avoid facing the reality there may be a hard surface somewhere below. Mercy, I say, mercy please."Then patience to prevent that murmur soon replied: "Now Billy Mitchell, you must ponder this a bit; you must realize that to say that to say that the California economy is the sixth largest in the world does not mean that the California economy is 1/6th of the world's economy."Thus I began to relax. The math is not impossible after all. The mental pain began to subside at first but then something began to gnaw at my brain and reality began to set in. "This worse than I imagined":"If California were 1/7th of the U.S. economy and also the 6th largest economy in the world, these two facts alone would render the economies of all but four other nations insignificant. Insignificant I say at least in terms of currency and debt money relationships. If the U.S. economy is the largest in the world and California is the sixth largest then there can be only four other nations in the world with a larger economy than California.Many questions arise. Who are those four other nations? With whom are these four other nations aligned? Is there an attempt to manage a "balance of power" to prevent the triggering of an economic war by a simple economic or political event like the sinking of an economic Lusitania? If the U.S. economy is so large that 1/7th of it is exceeded in size by only four other nations of the world, then the world economy is either strangely small or the U.S. economy is a lumbering giant, so huge and cumbersome that if the giant were to stumble and fall there would be nothing but destruction in its path. There would be no hope of a nice, gradual transition of power. A world of total economic chaos would usher in a world of total political chaos. The world would beg for a charismatic leader to come forward to promise them hope. This world leader would not need solutions to take over. All he would need would a ‘mouth smoother than oil’. All he would need would be the ability to communicate hope to the world. Just to promise destitute folk some relief from the economic pain would be enough.When I consider this I cannot help but think of Nazi Germany and the leader they worshipped. He promised destitute folk relief from the economic pain. Should the 'lumbering giant' stumble and fall, the new world leader could easily turn out to be a demon along the lines of Adolph Hitler. I find the nature of such an one vividly described in the following passage from the Bible, Proverbs 5:1-13 KJV."My son attend unto my wisdom and bow thine ear to understanding: that thou mayest regard discretion, and that thy lips may keep knowledge. For the lips of a strange woman drop as an honeycomb, and her mouth is smoother than oil: But her end is bitter as wormwood and sharp as a twoedged sword. Her feet go down to death, her steps take hold on hell. Lest thou shouldest ponder the path of life, her ways are moveable, thou canst not know them. Here me now therefore, O ye children, and depart not from the words of my mouth. Remove thy way far from her and come not nigh to the door of her house: Lest thou give thine honor unto others and thy years unto the cruel: Lest strangers be filled with THY WEALTH, and thy labours be in the house of a stranger; And thou morn at the last, when thy flesh and body is consumed, And say, How have I hated instruction, and my heart despised reproof; and have not obeyed the voice of my teachers, nor inclined mine ear to them that instructed me!"This new world leader, this character is also clearly described in the book of Daniel::"And in his estate shall stand up a VILE person, to whom they shall not give the honor of the kingdom: but he shall come in PEACEABLY, and obtain the kingdom by FLATTERIES."(Daniel 11:21)"And after the league made with him, he shall work DECEITFULLY: for he shall come up and be strong with a small people." (Daniel 11:23)"And the king shall do according to his will; and he shall exalt himself, and magnify himself above every god, and shall speak marvelous things against the God of gods, and shall prosper till the indignation be accomplished; for that that is determined shall be done." (Daniel 11:36)I said to myself, "Self, you had better get you some more of that physical, just in case!HBM tedw (4/7/2001; 7:56:28MT - usagold.com msg#: 51535) 2 Americas http://www.usagold.com 2 AMERICASThere are 2 Americas. Crazy, you say, let me explain. One America is the descendents of Thomas Jefferson, George Washingtion, Patrick Henry, and Abraham Lincoln. They believe in freedom,free enterpise, and the dignity and rights of the individual.They believe in opportunity and the freedom to try and suceed and even fail. They claim the heritage passed to them by these great Americans and others. They believe in individual liberty. They claim the rights written in the Constitution.These Americans are everywhere. But there is another Amerika. It is the Amerika that believes that individual rights should be sacrificed. It is the Amerika that believes we need welfare to protect us from our foolishness, it is the Amerika that believes Social Security will provide for our future, and it is the Amerika that believes in an Income |Tax to make sure that those who have will provide for those who have not. It is the Amerika that beilieves it is too dangerous for individuals to have guns. These Amerikans are everywhere to. April 15 is the time that this divide between the 2 Americas becomes most apparent. Amerikans demand that Americans go to the post office with their "money "surrendering their rights as they go: it is madatory yet voluntary. And many, not yet sure whether they are Amerikans or Americans, yield to the pressure but inside ½ knowing that something is not quite right and that something has been lost. And it is the time Americans remind Amerikans of the shackle on their leg, and remind them of what they once were. The visions clash. The Amerika that Amerikans want does not fit into the vision that Americans had over 200 years ago.A square vision which does not fit into the round hole of the Constitution. May the descendents of the Sons and Daughters of Liberty rise up and take back America from Amerikans. lamprey_65 (4/7/2001; 7:35:16MT - usagold.com msg#: 51534) Gold Weekly http://www.bookmarkusa.com/goldweekly.jpg *Warning* Before I begin, let me say there is bad data at the link above...this is why I haven't been posting the charts lately. The problems -1. Four weeks ago was NOT a confirm above the resistance line.2. Six weeks ago the tail on the candlestick is way too long...bad trade(s) never cleaned on Worden's.OK, now on to the obvious...Notice how we once again managed to close within the wedge, but --I show the wedge dying THIS WEEK. It's done, toast, fini, kaput.Normally I would expect a nice rally this coming week after the failed breakdown (another failed breakdown!!), but COMEX expiration is next Friday. So,My guess is the week after next. USAGOLD (4/7/2001; 7:31:16MT - usagold.com msg#: 51533) BB, Elwood. . . . BB. . . .$9 billion ain't hay. And if Edison goes under, you can more than likely double that number. What you describe is what I suspected. Thanks. I think the Bush administration understands that we are talking about a long term problem that can't be solved with a one-time bailout package like the S&L's. The reports that other parts of the country can experience similar problems for essentially the same reasons is partiuclarly troubling. I can see why the Bush administration threw their hands up on this one and said,"Hey, this is your problem." But you know what, the feds are going to be dragged kicking and screaming into this one whether they like it or not. The only weapon available at the moment is the Fed and its open checkbook. I got a call from one of my Fed Watcher friends in New York yesterday and he was animated about the growth in the money supply (up $66 billion last week) -- This was before the PG&E announcment. You gotta think that Greenspan was aware of this and being pressured for help long before the public found out about this. Bank of America, et al certainly knew about it. The creditor is always the first to know. Might be where much that liquidity Randy keeps telling us about is going. Will Ravi Batra end up being the one who's right ---- an inflationary depression??? I shudder to think.On the suggestion by your friend that California might go nuclear: Can you feature that occurring in a state where the greenies successfully stymied non-nuclear power plant construction? I remember years ago, during the last energy crisis, France decided to go nuclear and built their power plants on the German border, using the prevailing westerlies to their advantage. I'm sure California will glady take the BTUs but suggest that the plants be built downwind -- someplace like Idaho or Utah with a gaurantee that the energy flows West.Elwood. . . ..I like your contest.Q: How many California legislators does it take to change a light bulb?A: Who needs a light bulb? tedw (4/7/2001; 6:48:47MT - usagold.com msg#: 51532) Day 7 http://www.usagold.com Day 7Dont spend any of your USA GOLD to buy chineses products. Spread the word-Boycott China Canuck (4/7/2001; 6:33:00MT - usagold.com msg#: 51531) Russia looking at Euro http://russia.strana.ru/stories/2001/04/05/986467033/986466926.html Cut and paste job of 4 articles:------------------------------------Europe hopes Russia will like its currency Interview by Yoerg Stephan, official Bundesbank representative in Moscow. QUESTION: As is known, Bundesbank is doing much preparatory work for the introduction of euro cash. When will the currency appear in Russia? ANSWER: Bundesbank will start supplying bills to Russia as of December 1, 2001, so that they might be in circulation as of January 1, 2002. No commission will be charged at the point of exchange. Neither will there be exchange deadlines. QUESTION: The euro is not yet the most stable currency in the world. Do you have any comments? ANSWER: The European Central Bank is responsible for internal stability of the euro rate and cannot bear responsibility for the external factors, at least as long as they do not affect the inflation level. The situation may become dangerous if the euro grows too weak. This is not the case so far. As far as the internal stability is concerned, the best confirmation is the two-year period of success the euro has had, because inflation rides at less than 2% in the euro zone. This circumstance is the only important one for the European Central Bank. One ought to see developments in their right perspective. This year inflation has somewhat exceeded the 2% level because of the high oil prices. I think, the European Central Bank will take the necessary steps and the interest rate is in line with the current situation. I think, the euro has rather good prospects. It seems to me the population of European countries will have more confidence in the new currency when they actually hold bills in their hands. So far, however, there is probably a psychological problem. New bills will appear in your country on January 1, 2002, and it will be important for the development of the European market. I think it necessary to stress that fluctuations of the euro do not exceed fluctuations of the German mark against the dollar. And this is normal. Watch the mark and you will see that it grows weaker as oil prices climb. This was so in the past and so it is now with the euro. QUESTION: What is your forecast for the euro rate against the dollar? ANSWER: The Bundesbank does not issue official forecasts for currency exchange rates. The main thing is that the European currency remain internally strong. Besides, Europe has the world's most independent Central Bank. And this is a thing of no small importance. Russians advised to carry euro rather than dollars in their pockets According to Mikhail Delyagin, Director of the Institute of Globalization Problems, Russia needs to support the euro and oust the dollar by replacing dollar reserves with it. This, he said, would also encourage the population to orient themselves toward the euro instead of the dollar. He was speaking at the Euro-2001 conference. Dollars account for 80% of the cash Russians take with them when going abroad but only two percent of them go to countries of the dollar zone. Delyagin pointed out that the European Union has decided to raise the fee levied on exchanges of cash dollars for the euro and it is close to a decision to cut the period allowing the dollar and the euro in circulation after the introduction of the cash euro down to two months. Although European currencies are weaker than the dollar, Russians have European cash, primarily German marks. According to Alexander Khandruyev, Vice President of the Reforma Foundation and former deputy chairman of the Bank of Russia, in the coming two to three years the euro's exchange rate to the dollar will show no significant change. But he expects the euro to show growth trends in the medium- and long term. Among other things, the process will be assisted by a narrower gap between interest rates in the United States, Japan and Europe. Besides, experts expect the rate of inflation in Europe to be lower than in the United States. (1.7% and 2.1% respectively). The cash euro will have a growing impact on the economies of EU countries and grow stronger in the process as it becomes more attractive than the dollar.Russia to bring China closer to EuropeRussia must in the very near future shore up its stand as a Eurasian transportation corridor and support the zone for strengthening the euro, declared the Director of the Institute on Problems of Globalization, Mikhail Delyagin, at the Euro-2001Conference on April 5. According to him, if Russia fails to cope with this task that does not require substantial expenditures, the question concerning Russia's integration in the world economy may be left hanging in midair. Delyagin pointed out that according to Russian government experts, the cost of transporting one container of freight from Europe to Asia via Russia's territory is approximately $1,200-$2,000 and covers a time period of 12 days. At the moment, transportation of the same freight by sea costs $3,800 and lasts for 30 days. "This is a substantial advantage for Russia and it is necessary to make use of that advantage," Delyagin emphasized. The idea of a transcontinental bridge is not new. But in the 1990s Russia encountered a strong competitor - China, after that country modernized the Trans-China Railway. In April 1998, the U.S. Senate adopted a law on the Great Silk Route strategy. In particular, this legislation envisages U.S. economic assistance to countries lying along the Great Silk Route. This project is aimed at bringing the countries of Southeast Asia to Europe bypassing Russia, i.e., through the Central Asian states. Today, Delyagin argues, Russia must not miss its chance and make use of the cooling in American-Chinese relations in order to restore its interests and develop transport cooperation with China. In the meantime, Spanish news agency EFE stated directly on April 5 that Europe and Russia were using the U.S.-Chinese conflict to dislodge the United States from its leading positions in the region. An EU diplomat, who wished to remain unnamed, told EFE that the tone of the new U.S. Administration's dialogue with China would force China to seek greater rapprochement with Europe and Russia. For its part, Europe was also willing to consolidate its foothold in the Asian region. Russia likewise intends to use the crisis in its interests, becoming the main Chinese partner, EFE said. PRC Chairman Jiang Zemin plans to pay a visit to Moscow in mid-July, during which he will have a meeting with President Vladimir Putin. As is expected, the visit will result in the signing of a Chinese-Russian agreement aimed at reducing the U.S. influence in the international arena. Meanwhile, a powerful transcontinental bridge between Asia and Europe may prove sad news for the U.S. currency. An eastern expansion of the euro zone is inevitable as is the waning of the Swiss currency, which the Russian railways have traditionally used in international settlements. Russia is sizing up the European currency On April 5, Moscow is hosting Euro-2001 Conference devoted to the introduction of euro cash, which has been organized by Switzerland-based Sovereign Group with support from the Russian Bank Association, the Academy of People's Economy under the Government of the Russian Federation, and the International Moscow Currency Exchange. The Conference is attended by prominent Russian and Western financiers, economists and bankers, as well as representatives of the Central Bank of Russia, the Finance Ministry, the State Duma, commercial banks, and foreign trade companies. The introduction of euro cash is more than a topical matter for Russia. The problem is not only that all foreign economic settlements, for example, for railroad shipments, are in Swiss francs and soon it will be necessary to switch over to euros. The Conference discusses a range of problems, like what the introduction of euro cash will do to Russia's competitiveness; work in the EU capital market after the euro is in (state and corporate debts, stock, forward markets); legal regulation of euro-priced export-import operations; the fight against Swiss-based money laundering; the U.S. crisis and the euro-zone economy; forecasts for the euro exchange rate against the U.S. dollar, and many others. Even physical persons are showing an increased interest in the behavior of the European currency. Given the slowing down of the U.S. economy, the interest has become particularly pronounced during the recent crisis spiral in the world financial markets. The more so that starting from the next year Russian citizens will have an opportunity to buy euros. The Moscow Conference is taking place against the background of an unstable euro. But for the Russian economy the slide in the exchange rate of the euro against the U.S. dollar may be regarded as a quite positive tendency. Russian exports are mostly priced in dollars while imports are predominantly euro-priced and therefore the drop in the euro rate has led to the real strengthening of the ruble. Many economists, as, for example, director of the Institute of the Transitional Economy, Yegor Gaidar, predict that within the next five years the euro rate will be $1-1.1 for a euro. Leaps from 80 to 130 cents for one euro are not excluded either. Canuck (4/7/2001; 5:45:48MT - usagold.com msg#: 51530) To any and all I watched an interview last night on 'Bottomline', a sort of Canadian version of CNBC on ROBtv.The interviewer was talking to 2 asset managers, a lady from Altamira (shades of AJC) pushing the 'oversold' theories and a man named Brian Acker of Acker Finley Inc.Mr. Acker was still ultra-bearish citing balance sheets that are still out of whack. He also mentioned that 'goodwill' was still to be written down in many companies and the 'credit crunch' still had to dealt with.He mentioned Nortel in the first regard and Lucent in the second.I'm was unable to find the Acker Finley Inc. site for I was going to email Brian Acker and ask him further about his 'credit crunch' thoughts. Anyone familiar with the firm?My thinking goes something like this; we've had the incredible investment and credit surge in the last year to two (probably more) so companies are heavily in debt. Ensuing profits were anticipated to service debt but this seems to be unlikely given the present downturn. There is also a parallel with the consumer ala mortgage refinancing.So we have consumer and corporate debt at massive levels and soon to be unserviceable if my pondering is correct.This downturn over the last 2 or 3 quarters and probable next 2 or 3 quarters should pop the 'credit crunch' bubble as I see it. It is very evident that the 'CNBC' monsters are now on a new roll that the corporate crash will not roll over and into the consumer who represents 2/3rds of GDP (how many times have you heard that in the last month!). I think its hogwash. This entire specticle of spend, spend, spend whether on a corporate level or an individual is one and the same. If they think that 'half' or a portfolio evaporation does not and will not affect the individual they must be dreaming in techno-color. Somewhere along the line Joe-Tech investor probably re-financed to chase the tech wreck and is hurting all the more.I read prudentbear.com/credit.html and love the article but I find it a little repetitive and some what over my head. Have any of you guys run across 'credit' articles that you could post for a week-end read.Thanks and have a golden week-end.Canuck. Canuck (4/7/2001; 5:17:47MT - usagold.com msg#: 51529) @ Knallgold Any 'linkage' to your 51523 Canuck (4/7/2001; 5:16:36MT - usagold.com msg#: 51528) BB I saw the interview that Maria had with Jack Welsh. She looked like she was going to faint the entire time. Canuck (4/7/2001; 5:13:34MT - usagold.com msg#: 51527) California http://biz.yahoo.com/rb/010406/business_pge_bankruptcy_dc_7.html Good call Black Blade; thanks for the 'energy' posts.Now we have a financial problem (not that we didn't before)on top of an energy problem.See link. Black Blade (4/7/2001; 3:37:52MT - usagold.com msg#: 51526) The Energy War Between the States The energy crisis that we now see in California is spreading across the state's borders. The Energy War between the states is about to begin. Recently a meeting between the western states governors took place in order to iron out the regions energy problems that were exacerbated by California's unwillingness to take responsibility for its energy needs. These problems will soon crop up in Texas and Pennsylvania before long. If this sounds outrageous fine, but let me spell it all out for you.The California economy is the World's 6th largest economy and accounts for 14% of the country's GDP. Will the US Government allow this economy to fail? Of course not. The "ripple effects" would soon become a tsunami that would bring down the US economy if left unchecked. Certainly California has itself to blame for the current sorry state of its energy crisis. They would not allow the construction of power generating facilities, denied energy companies the right to explore for oil and natural gas and allowed the energy infrastructure to fall into decay. Now the states largest utility has declared bankruptcy and filed for Chapter 11 reorganization. Energy for the state of California is purchased from neighboring states which serve as "Energy Farms." The hydroelectric power generated in the Northwest is sold to domestic clients, however, in the summer months excess electricity is sold to California. Water levels this year are low and not expected to improve before California's peak energy demand this summer. Other states in the region (Idaho, Nevada, Utah, and Arizona) subsidize Californian rate payers and domestic rate payers have experienced increased utility rates because of Federal Judicial orders that require energy to be supplied to California. Needless to say, rate payers in the western states are not pleased. When there is no excess energy available there will be an escalation in the regions "Energy War" that is reminiscent of the "Water Wars" that ensued when the Colorado River Dam system was created.Texas is another case where the state has built power generating facilities and fueled them with domestic natural gas supplies. The excess natural gas has been sold to energy marketers and delivered to other states via the pipeline network. More natural gas fired power plants are coming on line and more domestic natural gas will need to remain in Texas. This will put pressure on the energy needs of the surrounding region. Pennsylvania is a shining example of how deregulation should work. They have fairly stable utility rates, however, that could change soon. New York and New England overall is facing an energy crisis that could eventually rival that of California. Other states in the region, and Pennsylvania in particular could be called on to help out the hapless New Englanders. The result will be that Pennsylvania will experience higher utility rates as well. Domestic rate payers will not be pleased with the prospect of subsidizing those who did not take responsibility for an easily foreseen energy crisis. The same case can be made for the states of Florida and Georgia as well.The time required for exploration and production of energy supplies can take several years and many prime target areas are off-limits due to environmental concerns and nationally protected lands. This does not even account for the building of infrastructure and upgrading the power grid. There is also a serious lack of drill rigs and competent personnel needed to explore and develop oil and gas producing fields. Even if Liquefied Natural Gas (LNG) becomes available in sufficient quantity, prices will be high. There is a fairly small fleet of specialized tankers and few LNG facilities in the US. There is also a growing need for domestic NG production to remain in producing countries and the surrounding regions. We have no choice but to face the fact that we have a growing energy crisis that will last several years. I look to impending legal actions among the various states as each fights over an increasingly scarce resource. Dare I say that it could get "Interesting?" - Black Blade Black Blade (4/7/2001; 3:37:37MT - usagold.com msg#: 51525) The Energy War Between the States The energy crisis that we now see in California is spreading across the state's borders. The Energy War between the states is about to begin. Recently a meeting between the western states governors took place in order to iron out the regions energy problems that were exacerbated by California's unwillingness to take responsibility for its energy needs. These problems will soon crop up in Texas and Pennsylvania before long. If this sounds outrageous fine, but let me spell it all out for you.The California economy is the World's 6th largest economy and accounts for 14% of the country's GDP. Will the US Government allow this economy to fail? Of course not. The "ripple effects" would soon become a tsunami that would bring down the US economy if left unchecked. Certainly California has itself to blame for the current sorry state of its energy crisis. They would not allow the construction of power generating facilities, denied energy companies the right to explore for oil and natural gas and allowed the energy infrastructure to fall into decay. Now the states largest utility has declared bankruptcy and filed for Chapter 11 reorganization. Energy for the state of California is purchased from neighboring states which serve as "Energy Farms." The hydroelectric power generated in the Northwest is sold to domestic clients, however, in the summer months excess electricity is sold to California. Water levels this year are low and not expected to improve before California's peak energy demand this summer. Other states in the region (Idaho, Nevada, Utah, and Arizona) subsidize Californian rate payers and domestic rate payers have experienced increased utility rates because of Federal Judicial orders that require energy to be supplied to California. Needless to say, rate payers in the western states are not pleased. When there is no excess energy available there will be an escalation in the regions "Energy War" that is reminiscent of the "Water Wars" that ensued when the Colorado River Dam system was created.Texas is another case where the state has built power generating facilities and fueled them with domestic natural gas supplies. The excess natural gas has been sold to energy marketers and delivered to other states via the pipeline network. More natural gas fired power plants are coming on line and more domestic natural gas will need to remain in Texas. This will put pressure on the energy needs of the surrounding region. Pennsylvania is a shining example of how deregulation should work. They have fairly stable utility rates, however, that could change soon. New York and New England overall is facing an energy crisis that could eventually rival that of California. Other states in the region, and Pennsylvania in particular could be called on to help out the hapless New Englanders. The result will be that Pennsylvania will experience higher utility rates as well. Domestic rate payers will not be pleased with the prospect of subsidizing those who did not take responsibility for an easily foreseen energy crisis. The same case can be made for the states of Florida and Georgia as well.The time required for exploration and production of energy supplies can take several years and many prime target areas are off-limits due to environmental concerns and nationally protected lands. This does not even account for the building of infrastructure and upgrading the power grid. There is also a serious lack of drill rigs and competent personnel needed to explore and develop oil and gas producing fields. Even if Liquefied Natural Gas (LNG) becomes available in sufficient quantity, prices will be high. There is a fairly small fleet of specialized tankers and few LNG facilities in the US. There is also a growing need for domestic NG production to remain in producing countries and the surrounding regions. We have no choice but to face the fact that we have a growing energy crisis that will last several years. I look to impending legal actions among the various states as each fights over an increasingly scarce resource. Dare I say that it could get "Interesting?" - Black Blade justamereBear (4/7/2001; 2:25:24MT - usagold.com msg#: 51524) Black Blade 51520 And then there is the reversing solar magnetic field, which should cause humanity some interesting times in the years to come.j'Bear Knallgold (4/7/2001; 2:04:13MT - usagold.com msg#: 51523) Physical separates officially from Comex paper Pandagold said Gold will go to 300 this year,and Russia will join the EU.Gold is at 300 says Russia.And talks up euro.Might even join GATA.And Comex sells his crap at 259.And everything is silent.Eerie. Black Blade (4/7/2001; 2:02:12MT - usagold.com msg#: 51522) Jack Welch Sees More Layoffs at GE http://biz.yahoo.com/rb/010406/business_ge_welch_dc_3.html Snippit:NEW YORK (Reuters) - General Electric Co.'s (NYSE:GE) outgoing chairman and chief executive Jack Welch sees layoffs on the horizon at the corporate giant, and warned that the weakening economy has yet to be hit by the recent wave of job cuts, he said in a television interview that aired on Friday.Black Blade: Looks like more work for the spin meisters on wall Street. I can see that the Goldman Sachs boiler rooms will be very busy over the weekend. Black Blade (4/7/2001; 1:49:08MT - usagold.com msg#: 51521) GE Chairman Jack Welch GE Chairman jack Welch gave an interview on CNBC to Maria Bartiromo one of his employees. She asked about layoffs at GE and he responded that there were many more coming. She had that "Deer caught in the headlights" look on her face. Quite funny I thought. He went on to say that many more layoffs are coming in the US and that it is inevitable. Black Blade (4/7/2001; 1:38:00MT - usagold.com msg#: 51520) RE: RAP msg#: 51515 A "very" Simplified Expanation of Solar Flare problems http://www.spaceweather.com/index.html Another possible problem for the power system.SUPERFLARE: The most powerful solar flare in at least 25 years erupted near the giant sunspot 9393 on April 2nd. Fortunately, the bulk of the "X20-class" blast was directed away from Earth. On April 4th an interplanetary shock wave generated by the explosion struck our planet's magnetosphere, but it did little more than spark a modest geomagnetic storm.Black Blade: This is a "very" simplistic explanation. Much depends on whether the coronal mass ejection (solar flare) is "in phase" or "out of phase." If the solar flare is "in phase" and directly strikes the Earth, then there is usually no real danger as the solar flare simply "meshes" with the earth's EM (electromagnetic) field and passes about the Earth and on into the solar system. If the solar flare is "out of phase" and strikes the Earth, then there can be many disastrous consequences ranging from electrical disruptions, damaged satellites, and disruptions in communications to possible weather changes associated with disruptions in the Earth's EM field (theoretical). The "polarity" of the solar flare and the EM field orientation as it strikes the Earth has much to do with the degree of disruption. Sorry for the simple version, however, I know that most here don't have an extensive background in astrophysics. It would be easier to describe with diagrams. Suffice it to say that if the large solar flares as we are now seeing were to strike the Earth in such a way where the EM polarity was in opposition to the Earth's EM field, then it could create a number of disasters that would severely damage the electrical grid and telecommunications. A relatively minor solar flare that was "out of phase" created quite a mess a few years ago in eastern Canada and effectively "blew out" the grid. Also, some of the disturbing global weather patterns can be attributed to the average 11 year sun spot cycle as has been recorded for nearly 400 years. However, I don't have the time to open that "can of worms" again. Black Blade (4/7/2001; 1:05:55MT - usagold.com msg#: 51519) Another Point of Consideration About PG&E Bankruptcy, and Possible Answer For Elwood's Contest Question There is one point that I had neglected to mention about the PG&E bankruptcy. The judge who presides over the Chapter 11 reorganization can in effect raise rates without consent from the PUC or the state governing officials. This also makes the PUC somewhat redundant and useless as court ordered rate increases for PG&E will ultimately translate into rate increases from other California utilities. The Grasshoppers will have no say in the matter. There are going to be "ripple effects" throughout the California economy as well. Silicon valley's High Tech industry is energy intensive and higher costs will give these businesses a good reason to consider downsizing, relocation, and raising prices. California's economy is 14% of the nations GDP and the effects will be felt nationwide. Look for a lot of fallout on Wall Street as a result. Tonight I was with a couple of my friends who work in NG exploration. They have no sympathy for California as I had expected. They said that it was coming for a long time. They also think that it will push the government toward developing a strategy to advance an accelerated exploration and production program. One who was an exploration geologist for uranium a few years back thinks that eventually there will be a coming boom in nuclear energy because of necessity.For Elwood - Elwood: How many California legislators does it take to change a light bulb?Black Blade: If they are like the Kennedy's it takes 2. One to hold the light bulb, and the other to drink enough to make the room spin.Sorry but I couldn't resist.- Black Blade ViewYesterday's Discussion.
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