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ARCHIVED DISCUSSION FROM 3/7/2003
All times are U.S. Mountain Time

(Yesterday's Discussion.)

Clink! (03/07/03; 23:46:29MT - usagold.com msg#: 99108)
The arrest of Bin Laden's sons
Just been watching Bill Maher's new Realtime show. Apparently, the President had made a comment about bin Laden's sons but wasn't going to gloat over it. After all, he knows what it's like to have two of his kids arrested.......

mikal (03/07/03; 23:34:39MT - usagold.com msg#: 99107)
Retribution, reprisals and retro-habits
http://www.YellowTimes.org
"The new Cold War Era"
Tuesday, March 04, 2003 By Jesse Lee
YellowTimes.org Guest Columnist (United States)
(YellowTimes.org) � As the American public carefully weighs whether the benefits of eliminating the possibility of Saddam Hussein giving al-Qaeda weapons outweighs the mounting list of horrors that war will bring, one crucial element has been left out of the equation. If we go to war, that remote possibility will not be eliminated; instead, it will be made absolutely certain. A CIA report that was released days before the congressional vote on Bush's resolution (undoubtedly delayed at Bush's request) stated exactly that, and yet it somehow seems completely forgotten by all sides. It is demonstrative of the complete brainwashing this country has undergone that this fact has been ignored not only by the media, politicians, and pundits, but even by the anti-war movement, which has allowed itself to be sucked into the irrelevant debate about "evidence." In reframing the debate in terms of a burden of proof, excluding all other objections, Bush has had his greatest and most crucial victory.
This is as important a point as I might make, but there are other important conclusions to be drawn from it. For one, the fact that this war will almost certainly ensure what it is supposed to prevent has certainly not escaped the administration, even if it has escaped the rest of us. Their recent decision to begin their attack with an assault on the transportation systems is undoubtedly a reaction to this problem. But they are well aware how little chance they will have of intercepting weapons outgoing from Saddam, and this means, quite simply, that this entire campaign has been a pack of lies from top to bottom. Not only the Iraq-al-Qaeda connection, not only the fictional nuclear program, but indeed every last word regarding the motivation of this war has been a lie.
The next question, of course, is what the real underlying motive might be. The "war for oil" explanation is too simple, and it does not recognize that these hawks in the administration view themselves as noble, if not great men. President Bush is enough of a simpleton to believe that he has good intentions, and all members of his administration undoubtedly view their propaganda campaign as a system of noble lies. So what is this cause so noble, which is in the best interest of America, but which citizens could simply never understand? The answer is to be found in the principles of the American Enterprise Institute (AEI) and The Project for the New American Century (PNAC), organizations whose platforms are American imperialism: an enormous defense budget increase, universal military presence, and imposition of American will by force and intimidation.
The signatories of this doctrine form a perfect circle around an obvious absent name -- they include Rumsfeld, Cheney, Wolfowitz, Quayle and Jeb Bush. This philosophy is the missing premise of this war; it fills in the hole in the administration's reasoning which has had most of America, including supporters of the war, so baffled for so many months. A formidable and reliable military outpost in the center of the Middle East is the first step in an imperialist agenda.
And so now the question emerges of what such a new American century would look like. Comparisons between Bush's policy and the American Cold War policy have largely been dismissed on the basis that the Cold War was about deterrence, while Bush seems to have no patience for such a strategy. This objection is rooted in a na�ve mythology about Cold War history in which the U.S. made the intelligent, even moral, decision to utilize deterrence rather than force. This interpretation misses the fundamental reality that in a situation of Mutually Assured Destruction, deterrence is not a choice; it is an unalterable stalemate in which both parties are locked. The patience and morality of U.S. policy would also be difficult to explain to Vietnamese and Korean victims of our invasions. At that time, just as is the case now, deterrence was a last resort. Bush learned the limitations of schoolyard bully politics through his embarrassing confrontation with North Korea, and indeed we seem to have resigned ourselves to "deterrence" once again.
The point here is that a Cold War political philosophy may be alive and well in our current administration, and it is imperative that we remember the perils and inhumanities of that philosophy. We must get it out on the table before our noble liars can launch America into another era of perpetual insecurity, hatred, and plunder. Such an agenda should come as no surprise coming from a neo-conservative ideology which holds up Reagan as the white knight who "won the Cold War."
And we should be very much on guard when we see Rumsfeld, the man who approved of giving Saddam bubonic plague in America's interest, directing our foreign policy. We should be very much on guard when we hear the word "terrorism" attached to various concepts in order to imply an evil in them, just as the word "communism" was used during McCarthyism (and as it is still used today). Weapons of mass destruction have become "Weapons of Mass Terror." North Korea is now a "Terrorist State." The administration and its regurgitators act as if these are recent discoveries, that the terms WMD and Rogue State were erroneous terms we mistakenly used for all of these years. These conscious attempts to manipulate our very language are the warning signs of a fear-mongering propaganda campaign that will plunge this country into decades of blind hatred and escalation. The possibility of an Israeli-Palestinian scenario on a global scale should not be discounted.
There is one more good reason to fear the worst here. If we accept that Saddam will give weapons to al-Qaeda, then we must also anticipate that a moment will come when that intelligence is leaked either by our own agencies or those of foreign governments. One must imagine that this will be an extremely dark and shameful hour for America, and in all likelihood that it will mark the effective end of Bush's political career. But if we also accept that Bush has foreseen that moment throughout his war campaign, as I think we must, then we must also anticipate that he has a game plan in place for that event. It is likely that the only way he will be able to survive that moment is to have swept the country into such frenzy that citizens forfeit their ability to self-criticize, and are willing to follow Bush down the imperialist path all the way. Whether this is a realistic goal for Bush is debatable, but we need to realize that all of the neo-conservative plans hinge on selling the American public on a new era of ideological nationalism. Bin Laden wants the Clash of Civilizations, and it appears that the administration may be willing to give it to him.
These hawks relish their position at the helms of the most powerful enterprise ever constructed by Man, and they seem to have an almost Nietzschean outlook that any power, any strength that is not fully utilized, is wasteful and disgraceful. Even beyond the disgusting morality of this philosophy, we must understand that this philosophy is not tenable. The war on terror will never be won by actually killing every terrorist, as any Israeli citizen can attest. The one lesson America has refused to learn from 9/11 is the most obvious of all. No amount of tanks, stealth bombers, or nukes can keep us safe from a world that hates us. But Bush is counting on a Cold War type escalation to keep his ship afloat, and with the way America has reacted thus far, we cannot count on the public to resist successfully. If this war is allowed to go on, the future for the next generation may be lost to a new Cold War, but you cannot deter a terrorist, and this time, deterrence will not save us.

Happy Birthday Michael Kosares!

Black Blade (03/07/03; 22:38:16MT - usagold.com msg#: 99106)
Gold dips on al Qaeda report, ignores Blix
http://www.forbes.com/markets/newswire/2003/03/07/rtr900822.html

Snippit:

LONDON, March 7 (Reuters) - Gold fell sharply in European trade on Friday, aided by talk that sons of fugitive al Qaeda leader Osama bin Laden had been arrested, but took little notice of a key speech to the United Nations Security Council by chief weapons inspector Hans Blix. But the market shed around $10 in less than 30 minutes as rumours swirled that bin Laden's sons had been arrested in Pakistan. "It was quite a sobering experience for the bullish fraternity. There were about 150 things supporting gold today and it takes one story from the Khyber Pass to flummox it," said Andy Smith, precious metals analyst with Mitsui. Two sons of Osama bin Laden were wounded and possibly arrested in an operation by U.S. and Afghan troops in Afghanistan, which killed at least nine, suspected al Qaeda members, a Pakistani official said. The official said he had no information that bin Laden had been in the area at the time of the raid.

Black Blade: Let's see, gold drops $6 overall and still sits above last Friday's close and $100 above its low. The gold pit in NY close before the rumor is dispelled, equities rally and the dollar rises and that's all that happens with gold is to settle above last week's close? The weak specs cut and run � what a bunch of ninnies. Meanwhile Asian and Russian central banks and the people get are getting cheap priced physical gold for their scraps of scrip. I'm not concerned at all.

Black Blade (03/07/03; 22:18:22MT - usagold.com msg#: 99105)
Inflation, the falling market and a Buffett bombshell
http://cbs.marketwatch.com/news/story.asp?guid=%7BB5F3C0CD%2DFA3B%2D4208%2DAE78%2D1D519F730A57%7D&siteid=mktw

Snippit:

Investors, instead of curling up inside their highly mortgaged cocoons, are registering alarm at the incessant declines of their holdings. They appear to be heeding, albeit slowly, the warnings of solid researchers such as Barry B. Bannister at Legg Mason Wood Walker. Bannister, embarking on a series of reports on the outlook for inflation the next 12 years, says simply, "We do not see a sustained change in direction that consistently favors equities until around 2015." Bannister, a capital goods analyst, gets little attention from Wall Street. Yet his research, and his conviction, are compelling. Debt in all sectors of America's economy, when measured against gross domestic product, is about where it was in 1933, just before the United States began a 20-year process of cheapening its dollar assets and thus "reflating" its economy. At the heart of sensible researchers such as Bannister is the belief that an accelerated pace of inflation, and America's $30-plus trillion of debt floating around the globe, will sink stocks and most bonds and other paper assets. Not the coming war in Iraq. Not terrorism, politics or sightings of hostile globs from outer space. At some point, says Bannister, $1 of new debt will have absolutely no "incremental positive effect" on the American economy. That point, says the former co-chief for U.S. equity research at SBC Warburg, will come in the year 2014. Bannister is Wall Street's worst nightmare. He's all about a world where investors seek out safe-money strategies and hard assets -- and sidestep anything that comes in the shape of a certificate or broker confirmation.

In the past 36 months, the rising price of gold has put 75 percentage points between itself and shares of J.P. Morgan Chase, which trade on the New York Stock Exchange. "A sharply rising gold price will most likely ignite J.P. Morgan Chase's $26 trillion of derivatives into some kind of blow-up mode," Bill Murphy tells me on the eve of the full Warren Buffett state-of-the-union address, due from that insurance executive's shareholders on Saturday.

Berkshire Hathaway's (BRK.A) Buffett this week sounded like the Italian poet Dante Alighieri in painting the world of derivatives as an inferno. The summary: Abandon all hope of leaving, you who pass through the derivatives gates. "Let's see: stocks overvalued and offering more risk than reward," observes Robert Bishop, editor of 20-year-old Gold Mining Stock Report ."The dollar in a confirmed major bear market. Derivative poster-child gold rising. It's not exactly a great leap to conclude that Monday's business sections may indeed be telling us of Berkshire Hathaway's newfound exposure to that best known of contra-cyclical investments, gold."

Black Blade: Good article - As I said before, it comes down to a weak US dollar. The dollar and the equities markets are stuck in a long term secular bear market that will last for years. The major problem is the extraordinary massive government debt that now feeds on itself growing like a plague with no cure. It's beyond salvaging at this point. A few years ago it seemed possible to get under control but now it is impossible. I suspect a that ultimately a sharp inflationary push in a last ditch effort will be attempted but those with precious metals portfolio insurance will come out relatively unscathed. (Think Argentina, Japan, etc.)

BTW, Happy Birthday MK, I think that calls for a Negra Modelo or two, maybe even a pitcher of Fat Tire.

physicalman (03/07/03; 22:06:20MT - usagold.com msg#: 99104)
21Mabry
Oops. was not finished, accidently hit the submit icon.
I used the monopoly comparision because i believe that many of the CB's and institutions (using Fed pump dollars) have been so successful so long that they are animated, it truly is a game to them. They have been manipulating the rules for so long that they have lost sight of what happens if they lose and how it will affect the real world. So many people and nations on this planet have played their adjusted monopoly game for so long and landed on their (hotels) so many times that there never will be enough "Paper" to pay all the rents due. Lots of countries, businesses and common folks can't pay and many of them soon will Not pay! Those of us with physical will not roll their numbers and pay the fees. We just have to have the fortitude to wait for them to run out of paper!
Was also catching up on the posts and saw where you were asking about sterling silver. I have never had much experience buying old flatware and sterling pieces but did occasionaly run across private mint bars. Just take the spot price times .925 and you will get the silver value of sterling bars. But remember that when you sell that dealers usually do not pay any premiums on these bars and you or they will have a bigger spread to make up because of increased refining costs.

physicalman (03/07/03; 21:32:53MT - usagold.com msg#: 99103)
21Mabry-post#99073 9:41 a.m.
That is a well-worded point to make about trying to think how your adversary makes their moves and one i have pondered several times. I personally, for what it's worth believe that these strange reverse prices movements that go against past market history are showing that TPTB are accumulating (some personally and others for their institutions) as much physical PM's as they can and desperately trying to unwind as many hedges and derivatives as possible. Maybe the best way i can explain it is that us and TPTB (PPT) are playing monopoly. They own all the residential properties and have hotels on every one of them. All we hit and bought were the railroads. But, all we roll with the dice are sevens and tens or fives and tens, landing on our own railroads and never paying rent(fees and interest) to them. All they roll are fives and tens and are slowly losing their money to us but collecting 200 more when they pass go (Fed pump and Treasury print) which is keeping them in the game longer than we would like. When they finally run out of monopoly money to play the rent on our railroads(gold and silver) that will be the time where they will have to fold, trade us a property so the game can continue a little longer or makes changes to the rules (like making us roll with one dice). Little do they realize that we can still roll fives at will and avoid their rents (for we have physical) We do not have total control over that five roll that will put us in jail (govt confiscation) though and let us hope that is not one of the rule changes in the future!

Cometose (03/07/03; 20:47:08MT - usagold.com msg#: 99102)
President Bush/ N Korea/ Bill Clinton
Happy Birthday MK.....

I forgot how we met, but I was thinking about it a this morning and realized that I forgot....probably had something to do with gold.....

I'm going to tell a little story and then .... thank you in context

Back in the early 90's , I recieved a gift of Market Wizards if memory serves.... There was a sketch on a figure in that book...

There's a record in the book of a man who was very succesful trader in some commodity.... the interviewer
asked what gave him the drive to become all that he had achieved in his profession....

His response was approximately " I don't want to have my child(ren) come to me one day in the future and ask me why I didn't do everything in my power to prepare against all eventualities...."

I had very small children at the time ( 7, 4, 5, 12, and
-1) in 1992, all boys) I internalized what the man said in the above quote....

In my heart I identified that I was scared and vanquished the fear and said in my prayer, I need to have solid information and good sources of information to light my path in the financial jungle....GOd send me people that can help me in this area.....

You , in this respect , have been an answer to prayer..

Thank you

The day I said that prayer was a turning point in my life, and much later also was the day that I decided to quit drinking caffienated coffee .

Someone did a report on Drudge this morning on Pres Bush's speech , said he wasn't him self and alluded to the fact that he might have taken a pill.....

That would not be where I would be going in a time like this but I'm afraid that the Pharmaceutical industry may have undermined the thinking and reasoning ability of the populace as accountants have undermined the financial statements of Corporate america..... and the battle on the integrity of the rock that is America continues......

Korea is on the "in your face campaign " to make clear what their missile capability is ......

there is an appropriate analagous scene in the movie
TOMBSTONE when Wyatt Earp has just gone in the street
and apprehended Curly Bill Brocie .... Ike Clanton walks
up on Wyatt Earp to challenge him and demand that Wyatt
Earp let go of Curly Bill and then Wyatt drew his
revolver and put it between Ikes eyes on his forehead.
Someone in the crowd said to Ike that Wyatt was bluffing.
Ike was looking into the eyes of Wyatt Earp and he got
very still and serious and Ike said "HE'S NOT BLUFFING!"

All this .... on the eve of America's Iraqi ADVENTURE...

Some of Bushes speech last night and his reference to GOD
and the individual rights of all people to be free ....
took me back to MANIFEST DESTINY in early American history

That was the justification (propoganda ) utilized for taking the land and killing the savage indians .... George's dad said something about 1000 points of light and a kinder and gentler nation..... How ironic

From a position of faith .....I can go along with the idea of every one getting a shot at freedom the essence of which is Spiritual....Many believe that is the destiny of our country .....to liberate the captive ......I hope that we , and our leaders are not sending out the wrong message...

There is something else that is crawling up the back of my brain that i would like to add , however .....which pertains to history.....

THe arabs invited multinational oil companies into the region decades ago and made deals .... with those companies ( that is the free enterprize system isn't it? this for that)
After those companies helped them drill and devlop those oil fields that were discovered there...because of someone I believe whose descent is not middle eastern....the arabs kicked the companies out of their countries......
their have been dirty tricks and behind the scenes monkey business from Arab States and US intelligence.....
However, most recently , it is implied that much funding that comes from the oil fields below Saudi Arabia has been funneled to Terrorist Organizations....one of which successfully attacked the US and cut off the lives of thousands....MEN WOMEN AND CHILDREN....FAMILIES , HEARTS,
SOURCES OF LOVE SUPPORT AND VISION ( a looking after)for CHILDRENS' futures.......

THE Arab States colluded together to see this thing done..
and they used natural resources to fund a heinous act...
which they will continue to do might makes right or some bs and the end justifies the means ( Machiavelli)

I guess taking their oil away is tantamount to taking guns way from teenagers in gangs....

They were irresponsible so they're going to loose their toys.

I think that the N Koreans are going to be suprised at what
their going to get......in the form of new technology to deal with their threats....

and now on to the topic of

CBS HIRING BILL CLINTON>>>>>for entertainment.....

SOme of you are no doubt aware of the alleged report that a NOrth Korean Warhead was found in Alaska......in addition
tonight on K there is a report of some N Korean Spokesman
bragging about raining down missiles all over american cities...they have the missiles to reach "any" american city he claims.......

It is rumored or perhaps documented that BILL CLINTON in conjunction with Loral corp gave missile and launch technology to the Chinese .........who are backing NK
If one of the NK missiles hits US soil......
BILL CLINTON will be tried for treason........ which should have happened years ago.....

Good Evening all....

Goldilox (03/07/03; 18:18:20MT - usagold.com msg#: 99101)
I Bought it
OK, I admit that I bought Portugal's gold. After viewing "Swordfish" for the umpteenth time, I figured John Travolta's $9 Bn stash was insufficient for properly fighting terrorism and wanted to back him up with some less depreciative funding, knowing the ENRON proceeds will need to remain invisible a lot longer due to litigation. Now that I've let the cat out of the bag, I suspect the guys that were after Mel Gibson in "Conspiracy Theory" will be watching me much more closely.

$369.0

-Goldilox

Brett Woods (03/07/03; 16:53:28MT - usagold.com msg#: 99100)
Happy Birthday MK!
Did you sell a little of your stash today to buy yourself a present?

Waverider (03/07/03; 16:41:57MT - usagold.com msg#: 99099)
DAILY GOLD MARKET REPORT
http://www.usagold.com/DailyQuotes.html
Snip
"The U.S. dollar continues to weaken under crushing debt and growing deficits. This trend will continue, possibly indefinitely, as foreign investors withdraw from U.S. dollar investments. Gold will remain supported as the dollar weakens regardless of sideshow events like war in Iraq, nukes and missiles in North Korea, terrorist bombings in SE Asia and chasing wisps of smoke like today's debunked al Qaeda rumor. In the end it's really about the dollar."

USAGOLD / Centennial Precious Metals, Inc. (03/07/03; 15:47:13MT - usagold.com msg#: 99098)
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21mabry (03/07/03; 15:39:25MT - usagold.com msg#: 99097)
markets
Happy Birthday MK. What kind of investment climate is this.Everything is going down or stuck where its at.Investments that usually move in opposite directions are moving down together even when a commodity goes up in price stocks and mutual funds that invest in that sector go down this is a very strange investment enviroment.I do not have alot of experience but even i can see this.Physical metal looks to me like a safe port in this storm.

Bizkit (03/07/03; 15:31:28MT - usagold.com msg#: 99096)
*********335.20************
Yes, I am the one who bought the 30 tonnes of Portugal gold, and I did it because the fiat paper system has a freaking fraudulent nature which is used to tax people out of their control and perception... not fair, and I don't like playing unfair games... you know, I'm not a chimp!
And let's face the truth, have these bureaucrats ever made a good investments in their life? Selling low buying high, that's their role to stabilize the system. So, they are selling and I'm buying it, and I'm gonna buy even more if their selling pressure pushes the POG to 335 again next week. Let me put my hands on another true gift, 30 tonnes is not enuf for me, my truck has still some empty room and it screams to get filled. Bwwwwaaaaaa. Want more.

J-Bullion (03/07/03; 14:10:30MT - usagold.com msg#: 99095)
*******371**************
Yes, I am the one who bought the 30 tonnes of Portugal Gold and I did it because....I felt sorry for the Portuguese holding all that gold. A lot of other countries in the world are racing to sell all the gold that they have before the world runs out of paper money. It's not like paper isn't abundant and grows on trees? It takes a lot of effort to turn a tree into paper, put some ink and numbers on it and call it money, just ask any good counterfeiter. So please everyone, chip in and relieve the world's central banks of their gold so they can pay down debt, have a bonfire, or buy Sir Alan and the bullion bankers a nice present.

ElGordo (03/07/03; 13:58:41MT - usagold.com msg#: 99094)
Rumor hits Gold
NEW YORK, March 7 (Reuters) - COMEX gold futures plunged more than 2 percent on Friday, as investors dumped safe haven positions on talk of reports that sons of fugitive al Qaeda leader Osama bin Laden had been arrested in a raid in Pakistan.

At 1023 EST (1523 GMT) benchmark April gold was down $6.20 at $350.70 an ounce after bottoming at $347.

Early Friday it rose to $358.70 on news of a shocking 308,000 drop in February non-farm payrolls.

Aristotle (03/07/03; 13:42:42MT - usagold.com msg#: 99093)
Investment fluff for Friday... some days are better than others. Today's a good one!
I'm happy to see the New York paper punters have done another favor for Gold buyers like us. If you can keep your head about you, and it really is that simple, load up with gratitude!

It's like this. Can you imagine anyone sitting around yesterday thinking for all the obvious reasons, "Hmmmm... I think I should get me some (more) Gold tomorrow," and then being dissuaded from his intended purchase because the futures boys in New York did him a pricing favor?

Sad thing is, the guys who probably need Gold the most are the same ones who have purchasing intentions that wax and wane with rising and falling prices, respectively. They're easily unnerved and never give themselves the benefits of these passing bargains.

If this sketch seems eerily familiar, like looking in a mirror, I've got a solution for you -- you need to put your wife in charge of buying your Gold. She'll get the job done right for you timid gents. You don't have to take my word for it... talk to her! (But first prepare yourself to be humbled in the art of value shopping.)

Gold. Get you some with a little help from the little lady. --- Aristotle

PS. If the rumor be true, a hearty 'Happy Birthday!' to MK!

Montana (03/07/03; 13:17:25MT - usagold.com msg#: 99092)
*****398*****
Yes, I am the one who bought the 30 tonnes of Portugal Gold and I did it because I wanted to leave as a legacy a statue of myself. The statue will be carved from beautiful stone and now I can add even more grandeur because parts will be made of gold.
I surmise that many thousands of years from now that there will be anthropologists uncovering the eroding statue but to their amazement will find that parts were made of gold which was just as beautiful as when first formed.
One anthopologist will say,"This is incredible! Who was this guy? To bad he didn't place his name on the gold parts." His partner would respond," That's becasue these are private parts."

Gandalf the White (03/07/03; 13:00:33MT - usagold.com msg#: 99091)
ATTENTION all you LURKERS and Newbies !! --- COME ON IN !
http://www.usagold.com/cpmforum/tools/guideandsignup.html
Join the FUN and become "wealthy" at the same time !! <;-)
===
Just enter either or BOTH Portions of the new CONTEST, and WIN "FREE" Gold and/or Silver !!! To enter, you must have a Free "POSTING PASSWORD". BUT, IF you do not now have a FREE POSTING PASSWORD) --- you can get one from the Town Crier at the LINK above ! He makes it easy and painless too. There WILL be FREE GOLD and Silver given away for the BEST ESSAY and most accurate Price Of Gold (POG) Prognostications.
===
THANKS for all you new posters that have joined us at the FORUM -- I'm sorry to not have been able to "GREET" you personally.
<;-)

Gandalf the White (03/07/03; 12:54:11MT - usagold.com msg#: 99090)
POG CONTEST -- UP-DATE on the SAGA of "King of the Hill" !
Daily SETTLEMENT Prices on the COMEX Contact GC3J with Open Interest of THAT Day
---
UP-DATE on POG CONTEST "KING of the HILL" status ! <;-)
<<<< SNIP >>>>
**** $352.4 **** Zelts (02/28/03; 08:13:07MT - usagold.com msg#: 98592)
**** $348.5 **** Kevin$ (02/27/03; 12:47:30MT - usagold.com msg#: 98535)
---

Daily SETTLEMENT Prices on the COMEX Contact GC3J with Open Interest of THAT Day
---
2/28/03 GC3J HIGH = $351.5 low = $345.3 Settlement = $350.3 Change +$4.1 OI = 105,993
3/03/03 GC3J HIGH = $349.9 low = $345.2 Settlement = $349.3 Change -$1.0 OI = 104,153
3/04/03 GC3J HIGH = $354.9 low = $349.5 Settlement = $353.3 Change +$4.0 OI = 105,279
3/05/03 GC3J HIGH = $358.8 low = $352.3 Settlement = $353.2 Change -$0.1 OI = 106,349
3/06/03 GC3J HIGH = $357.4 low = $352.6 Settlement = $356.9 Change +$3.7 OI = 106,444
3/07/03 GC3J HIGH = $358.7 low = $347.0 Settlement = $350.9 Change -$6.0 OI = ?

===
Contest FIRST DAY, 2/28, Sir Kevin$ was "King of the Hill"
Contest SECOND DAY, 3/3, Sir Kevin$ was AGAIN "King of the Hill" !!
Contest THIRD DAY, 3/4, Sir Zelts was "King of the Hill" !!!
Contest FOURTH DAY, 3/5, Sir Zelts was AGAIN "King of the Hill" !!!!
Contest FIFTH DAY, 3/6, Sir Liberty Head was "King of the Hill" !!!!!
Contest SIXTH DAY, 3/7 Sir Zelts RETURNS AGAIN to be the "King of the Hill" !
===
ABOUT FOUR days remain to Enter the CONTESTS.
Put on your thinking HAT and prepare to make your PROGNOSTICATIONS soon !
<;-)

Broken Tee (03/07/03; 12:50:31MT - usagold.com msg#: 99089)
test
test

Lothar of the Hill People (03/07/03; 12:42:40MT - usagold.com msg#: 99088)
Best returns MK
All together now....hut...hut...hut...hut...

i don't know but i've been told-
I DON'T KNOW BUT I'VE BEEN TOLD!
someone here is get'n old-
SOMEONE HERE IS GET'N OLD!

i don't know but i have heard-
I DON'T KNOW BUT I HAVE HEAR!
someone's eyes are get'n blurred-
SOMEONE'S EYES ARE GET'N BLURRED!

i don't know but i believe-
I DON'T KNOW BUT I BELIEVE!
someone's ears will soon deceive-
SOMEONE'S EARS WILL SOON DECEIVE!

i don't know but its been said-
I DON'T KNOW BUT ITS BEEN SAID!
someone's face is get'n red-
SOMEONE'S FACE IS GET'N RED!

sound off-
1! 2!

sound off-
3! 4!

HAPPY BIRTHDAY
HAPPY
BIRTH! DAY!

TownCrier (03/07/03; 12:14:58MT - usagold.com msg#: 99087)
Federal Reserve validates market's view for cheaper dollars
With market in overnight money (fed funds) trading this morning at 1.188 percent, well below the Fed's own target rate of 1.25 percent, the Fed nevertheless participated in the open market, accepting bids for cash at prices as low as 1.190 percent today.

In total, the Fed provided a fresh $2 billion to the high power money supply (i.e., banking reserves) with today's operation using over-the-weekend repurchase agreements.

R.

Simply Me (03/07/03; 12:06:02MT - usagold.com msg#: 99086)
(No Subject)
MK,
A very happy birthday to the King of the USAGOLD Castle!
Simply

TownCrier (03/07/03; 11:45:30MT - usagold.com msg#: 99085)
Traders see Federal Reserve lowering interest rates further
http://biz.yahoo.com/rf/030307/markets_futures_fed_1.html
CHICAGO, March 7 (Reuters) - Federal fund futures at the Chicago Board of Trade rallied on Friday, suggesting a renewed chance of a Federal Reserve interest rate cut, after a surprise fall in U.S. payrolls eroded hopes for an economic recovery. ...the U.S. job market lost 308,000 jobs in February ...the largest drop since November 2001. The jobless rate rose to 5.8 from 5.7 percent.

The weak report triggered a spike in Fed funds futures, which are used by some analysts to gauge future Fed rate moves.

"It looks like they're seriously pressing the Fed to ease again," said Joe Giagrande, bond trader at Gelber Group. "It looks they've got about a 35 to 40 percent chance for a quarter point ease by the March (Fed policy) meeting. Before the numbers, I expect they had about a 25 percent chance."

"When you get above 30 percent, the market is kind of serious about a potential ease," Giagrande said. "The expectations have broken into a more serious level."

May Fed funds futures were up 7.5 basis points after the jobs data release, reflecting a 75 percent chance of a rate cut by the May Fed policy meeting...

-----(see url for article)----

As a policy item the Fed can make the price of money (overnight fed funds) as cheap as they want, but with it comes the risk that purchasing power is lost, making longer term bonds less attractive as investments without a compensating rise in yeild -- brought about by a fall in their market price. Bonds, then, are by no means an infallible safe haven when you're looking for security against being rendered financially destitute by policy measures (and world events) beyond your control.

Call MK and his staff at Centennial for assistance on a gold diversification program that is right for your personal circumstances. 1-(800) 869-5115

R.

slingshot (03/07/03; 11:24:16MT - usagold.com msg#: 99084)
Happy Birthday Sir MK
Wishing you a Golden Day and success in all you do.
Slingshot--------<>

Gandalf the White (03/07/03; 11:14:03MT - usagold.com msg#: 99083)
Birthday Wishes to SIR MK !
OK, all you Hobbits -- TOGETHER NOW .....
HAPPY BIRTHDAY TO YOU !
HAPPY BIRTHDAY TO YOU !
HAPPY BIRTHDAY TO SIR MK,
HAPPY BIRTHDAY TO YOU !!!!!!
<;-)

Operative (03/07/03; 11:08:51MT - usagold.com msg#: 99082)
Plan B
""We are achieving our goal of building a more prepared nation, one individual, one family,
one neighborhood, one community at a time," Ridge said."
Director of Homeland Security

Makes you feel warm all over doesnt it? Golly, that is going to be a huge mountain of Duct Tape. Although I admit that I am still having trouble connecting the dots, (guess that is why I am not the Director of Homeland Security)as to how all that Duct Tape is going to protect me from falling stock market, falling dollar value, huge government/private debt, funky accounting methods, higher gasoline prices, higher taxes (somebody has got to bail out the local, city, county, state, and fed budgets)underfunded pension funds, increased medical coverage, increasing insurance premiums, etc. Wow! I'm just happy that there is no inflation. Phew!

Anyway, I think I will continue with my own plan. I have named it after Black Blade: Plan "B".

Get out of debt, stash a little cash, increase food supplies, and fill up more matchboxes with gold and silver.

Waverider (03/07/03; 10:59:44MT - usagold.com msg#: 99081)
Sir MK - Happy Birthday
Yes, a little birdie told me that today is YOUR special day! So a HAPPY BIRTHDAY to you good Sir - may you have a Golden day filled with family, friends, and good health! And a special Thank You for your continued generosity and leadership in hosting this fine forum! Cheers,
Waverider

ElGordo (03/07/03; 10:58:06MT - usagold.com msg#: 99080)
Budget : A sea of Red
http://www.reuters.com/newsArticle.jhtml;jsessionid=1DXWSXGWYDZ4OCRBAEOCFFA?type=topNews&storyID=2344289
WASHINGTON (Reuters) - The U.S. Congress's fiscal watchdog will provide a sharp reminder to lawmakers on Friday of the scale of the problems they face as they begin their annual budget debates next week.

In its annual review of President Bush's budget, the Congressional Budget Office is expected to predict that his plans to cut taxes and boost military spending will generate more than $2 trillion in federal deficits in the next decade.

The report, due to be sent to lawmakers on Friday evening, will likely also boost the CBO's own forecasts of a $199 billion deficit in 2003 and $145 billion shortfall in 2004 by around $30 billion, lawmakers and aides have said.

The White House has already predicted government deficits of over $300 billion this year and in 2004, easily surpassing the previous 1992 record of $290 billion in dollar terms.

"We're now looking at deficits that will be large for the next five to 10 years, and gargantuan thereafter," said former CBO Director Robert Reischauer, now head of the Urban Institute think tank. "The outlook is a sea of red ink."
___________
The facts support gold for many years to come.

mikal (03/07/03; 10:53:44MT - usagold.com msg#: 99079)
Corrected link
http://www.cnnfn.com
This link provides the joint CNN-Money magazine page on which the story may be accessed. The long address of the article does not show completely on my low-power, web-tv computer, but the above link is one step away.

GoldnSilver2002 (03/07/03; 10:47:15MT - usagold.com msg#: 99078)
The new routine for hitting gold,right after Bush says we are going to war
After every president's speech,they hit gold.After Bush says,"We are going to war.",gold goes down?I'd hate to be A so callled gold analyst now.All markets now are wacked.I started laughing when Bush said,"i believe in a free market".Firstly,it wasnt free to many investors.Secondly,they are so heavily manipulated now they may never be free again.Start rumour,hit gold,pump dow.Wait till something really happens.Maybe they can control the markets,but they cant control the world.

mikal (03/07/03; 10:42:14MT - usagold.com msg#: 99077)
More on Buffett
http://www.cnn.com
COMMENTARY The Bottom Line
Buffett to investors: Do nothing
The Oracle of Omaha says to stay on the sidelines -- you should listen. More on Quattrone.
March 7, 2003: 11:35 AM EST
By Adam Lashinsky, CNN/Money Contributing Columnist
PALO ALTO, Calif. (CNN/Money) -Excerpt: "For two days running earlier this week the most popular article by far on this Web site was Fortune magazine's exclusive preview of Warren Buffet's annual letter to his shareholders.
The Oracle of Omaha went on at some length about derivatives, a real messy topic that even his clear, homespun English didn't completely clean up.
Here's the short version: Derivatives are really complicated financial instruments that nobody totally understands, that corporations use too much and that Buffett thinks are going to be a real problem going forward for the stock market. Journalists have a tried and true method of dealing with messy topics. They ignore them. That's why most of the press coverage surrounding Buffett's annual pronouncement focused not on his comments on derivatives, but rather on what the great man had to say regarding stocks.
That's not so outrageous. After all, Buffett is one of the greatest investors of the last half a century. And really, slavish coverage in glossy national magazines notwithstanding, the statement isn't an exaggeration.
And again, Buffett had a handful of interesting things to say about the market, including that he's been dabbling of late in junk bonds.
But perhaps the most interesting sentence in the whole thing was this one: "Occasionally, successful investing requires inactivity."
Think about that for a second. The man who loves investing like a sumo wrestler loves eating rice is suggesting your best investment strategy of the moment is to do nothing.
"Despite three years of falling prices, which have significantly improved the attractiveness of common stocks, we still find very few that even mildly interest us," Buffett writes. What he is saying is that despite exhaustive research and three years of market declines, he can't find many stocks he'd like to buy. And that includes not adding to the positions of companies he already owns.
You don't need to be a rocket scientist -- or even a serial acquirer of insurance companies -- to realize that if one of our era's great investors is sitting on the sidelines, perhaps you should be too..."
Adam Lashinsky is a senior writer for Fortune magazine. Send e-mail to Adam at lashinskysbottomline@yahoo.com.

USAGOLD / Centennial Precious Metals, Inc. (03/07/03; 10:37:52MT - usagold.com msg#: 99076)
Real gold, real easy. Delivered to your door.
http://www.usagold.com/gold-coins.html

Gold Today!

Because you never know what tomorrow (weekend) will bring.

Call USAGOLD - Centennial Precious Metals
(800) 869-5115

a nation of one (03/07/03; 10:17:47MT - usagold.com msg#: 99075)
news and research

Richard Russell says: "Amazing that there are still more bullish than bearish advisors. I've never seen anything like it. Is there anything that will turn investors bearish?"

--There is no real surprise to this at all, because, although there are exceptions, the general rule is that if an investor does not do his own research, the investment news that he hears will be in the interest of those delivering the investment news. The more research one does on one's own, the more likely it is that the information one finds will be in his own interest.

Moegold (03/07/03; 09:43:00MT - usagold.com msg#: 99074)
contest
*****369.50*****
Yes, I am the one who bought the 30 tonnes of Portugal Gold, and I did it because it was SOOOO cheap. The BOP only wanted these little pieces of paper printed in the USA with engravings of US presidents on them for the gold. (They aren't even rare; the government prints billions of them every day!) I admit they were rather artistic pieces of paper, but paper none the less. Anytime anyone wants to trade paper for gold, go for it. Can you imagine someone trading pieces of paper for 30 tonnes of gold! I wouldn't have done it if it was the kid down the block for fear of taking advantage of him, but the BOP is supposed represent intelligent, sophisticated folks. Paper for gold. How could I not trade!

21mabry (03/07/03; 09:41:16MT - usagold.com msg#: 99073)
(No Subject)
I have found a worthy educational tool is to take and defend the opposite side of what you personally believe.This really opens up your mind.My first experience with this was when I had to defend Stalins policies during the early part of his rule.In our forum here put yourselves into the mind of someone seeking to destroy real money.KNOW YOUR ENEMY

Siochaina (03/07/03; 09:37:17MT - usagold.com msg#: 99072)
Disgusted!!!!
http://www.paknews.com/top.php?id=1&date1=2003-03-07
Certainly is good timing regarding report of bin Laden sons capture ...plus there is a story in Pakastani News...quoting BBC!!!...that Bush was going to announce bin
Laden's capture

Again..if true...great... BUT it sure came in handy this morning when employment numbers shocked and market started free fall

I had never believed in conspiracy theories...sure I felt that there was market gamesplaying but not all out coordinated government related conspiracy

I hate to say that I now believe it is very likely ...too many coincidences at "right" time for me

More glad than ever that I hold the "real" thing.... gold!!

1340cc (03/07/03; 09:36:40MT - usagold.com msg#: 99071)
Ticker Info. Please
On CNBC they run the "ticker" on stocks. I understand Red (arrow) is down, Green (arrow) is up. What do the colors white, black, gold and yellow mean? Most times these other colors appear near or after the market is closed. Sometimes there is an arrow other times not.

Sorry to bother you ladys and gentlemen with something so minor but I can't find anyone who knows the answer to my question.

Waverider (03/07/03; 09:36:06MT - usagold.com msg#: 99070)
Sundeck
Good morning Sundeck. Yes, I agree with you. The correlation is normally strong, I got r -9.4 for the data I have for last year. As I record the data each day it seemed to me that the pattern had changed recently - a wild excursion as you say, or a small cluster of outliers. However it makes one wonder why. I agree, short term data needs to be interpreted cautiously, and the long term trend is they key. Cheers,
Waverider

Mr Gresham (03/07/03; 09:33:40MT - usagold.com msg#: 99069)
Amazing!
These guys ARE pretty amazing.

How do YOU interpret volatility?

Siochaina (03/07/03; 09:20:44MT - usagold.com msg#: 99068)
bin Laden sons capture denied by US
http://customwire.ap.org/dynamic/stories/A/AFGHAN_BIN_LADENS_SONS?SITE=FLTAM&SECTION=HOME&TEMPLATE=DEFAULT
Although I would love to hear that bin Laden and sons etc were indeed captured ...

"In Washington, U.S. counterterrorism officials strongly disputed the claim. They said they had no information that would suggest any of the sons had been detained.

A U.S. official told an AP Radio reporter at the White House: "We, in fact, think it's wrong."

Zhisheng (03/07/03; 08:59:20MT - usagold.com msg#: 99067)
The troubles of Japan and the US.
Response to DummyANI #: 99047)
I do not argue with the assertion that Japan's yen is in more immediate trouble that the US dollar. But it is an exaggeration to say, "I believe that USA has no problems at all. Because USD is a key currency, FED can adopt a printing-press policy very effectively."

The US has adopted printing press policy "very effectively", for nearly the past decade. Much of the new dollars and credit found its way into the stock market, lifting it to values nearly unthinkable at the time of the last Gulf War---for a time the rise appeared exponential. And much found its way into the coffers of the great exporting nations of the Far East, as the US trade deficit grew to values nearly unthinkable a decade ago.

This "effective" printing press policy however has had consequences of driving manufacturing abroad, imperiling the retirement savings of the elderly, and providing an investment atmosphere in the US wherein for the past year nearly the only investment "promising" reasonable returns has been real estate. Granted that this does not rival Japan's bubble, but it is all the US has right now. Consumerism is all that is driving the US economy at present, and that consumerism is fed by the real estate bubble. The effects WILL be felt in due time, and there are signs that time is not far off.

The statement that the "FED can adopt a printing-press policy very effectively", is in concurrence with august company: FED officials Greenspan and Bernanke, who have made similar statements this year. But the effectiveness of this policy in the future appears to be dependent on willingness of US markets to consume ever more foreign imports, and the willingness of these foreign exporters to continue piling up US dollars which are being inflated at an expanding rate. The US consumers are becoming afraid, and their purchases are being made not quite so carelessly, as US unemployment increases and household and government debt breaks new records almost monthly.

The dollar prices of non-manufactured articles have been rising, as evidenced by upward moves in the commodities indices. There are powerful forces indicating trouble ahead for the dollar, and talk of a "printing press policy" tends to increase those forces.

ElGordo (03/07/03; 08:57:36MT - usagold.com msg#: 99066)
N Korea to test missile soon?
WASHINGTON (Reuters) - North Korea has declared a maritime exclusion zone off its coast in the Sea of Japan in a step that could signal a pending new missile test, the Defense Department said on Friday.

The department said it was aware of a three-day exclusion warning for March 8-11 declared by Pyongyang in virtually the same area where the North Koreans tested an anti-ship missile on Feb. 25.

"We are certainly aware that they have filed a notice of exclusion. That is typically a precursor to a missile test. But we're not overly concerned," said Navy Lt. Cmdr. Jeff Davis, a Pentagon spokesman.

The comments came amid rising tension in the region in a crisis over North Korea's nuclear ambitions.

Socrates964 (03/07/03; 08:38:20MT - usagold.com msg#: 99065)
SNOW JOB
IMHO part of a plan to restore confidence in the greenback by allowing foreigners to cash them in for cheap gold - who said Bretton Woods was dead.

I imagine that the aim is to discredit the French by showing that no matter how generous Uncle Sam is, they insist on opposing him. Truly a perverse people!

ElGordo (03/07/03; 08:32:52MT - usagold.com msg#: 99064)
Perhaps its this news
ISLAMABAD, Pakistan (AP) -- Two sons of Osama bin Laden were arrested in southeastern Afghanistan in a joint operation involving U.S. forces, Pakistan's provincial home minister Sanaullah Zehri said. "They were arrested from Rabat area in Afghanistan," he told The Associated Press in a telephone interview. He did not identify the sons, but said that seven other Al Qaida men were killed in the operation. Zehri refused to identify which forces were involved in the operation. "They were allied forces," he said refusing to identify the nationalities of the forces involved in the operation. Rabat is at the extreme tip of southwestern Afghanistan where the Afghan, Pakistan and Iran borders meet.

Carl H (03/07/03; 08:23:52MT - usagold.com msg#: 99063)
Snow Job
Ouch. Looks like a Snow job today.

Buena Fe (03/07/03; 08:15:40MT - usagold.com msg#: 99062)
(No Subject)
spock? if we fire every torpedo and weapon we have, could we use that to help stave off this damned "reality field" that keeps drawing us in?

maybe, maybe not sir, but its worth a try.

ok, well get on it spock.

ElGordo (03/07/03; 08:09:44MT - usagold.com msg#: 99061)
Unemployment at 5.8%?
Washington, March 7 (Bloomberg) -- The U.S. economy lost 308,000 jobs in February, the most since the Sept. 11 attacks caused firings in November 2001. Unemployment approached an eight- year high as the economy stumbled amid concerns about a possible war with Iraq.

The jobless rate rose to 5.8 percent last month from 5.7 percent in January, the Labor Department said. The unexpected drop in payrolls followed an increase of 185,000 jobs in January and was the largest decline since 327,000 positions were eliminated in November 2001. Stock prices and government bond yields fell.

``These are terrible numbers,'' said Sherry Cooper, chief economist at BMO Nesbitt Burns, who had forecast a drop in payrolls of 75,000, the most in a Bloomberg News survey. ``The U.S. economy is clearly faltering under the weight of this tremendous Iraqi situation as well as continued cost cutting among corporations.''
________
This is a bogus number, unemployment must be higher than 5.8%.

Buena Fe (03/07/03; 08:08:39MT - usagold.com msg#: 99060)
aboard Starship $empire
c'mon scotty (easy al) get those warp drives back on line, or this bird is goin tu succumb to the gravitational pull of that yellow fiery plant, dead ahead!

but cap't kirk (bush), we're already doin everythin we can man! i'm afraid she may melt up if pushed any further.

hyperinflate those drives scotty, that's an order.

ElGordo (03/07/03; 08:05:32MT - usagold.com msg#: 99059)
OPEC : No more capacity to pump
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Top%20Financial%20News&s1=blk&tp=ad_topright_topfin&T=markets_box.ht&s2=ad_right1_topfin&bt=ad_position1_topfin&box=ad_box_all&tag=financial&middle=ad_frame2_topfin&s=APmiUjhU3T1BFQyB0
Vienna, March 7 (Bloomberg) -- OPEC, producer of a third of the world's oil, will be hard pressed to prevent an Iraq war from driving crude prices beyond a recent 12-year high because members are already pumping near capacity.

Ministers at a meeting Tuesday in Vienna will probably approve a plan backed by Saudi Arabia to produce as much oil as possible should a war disrupt supply from Iraq, which pumps 9 percent of the group's output, officials and analysts said.

Oil prices last week reached the highest since Iraq invaded Kuwait in 1990 and touched $39.99 a barrel in New York, raising fuel costs and threatening to stunt economic growth. Only Saudi Arabia and the United Arab Emirates have the ability to help refill U.S. inventories, which set a 28-year low last month.

``There isn't enough OPEC capacity to cover the loss of Iraq,'' said Leo Drollas, deputy executive director of the Centre for Global Energy Studies in London, a consulting company founded by former Saudi oil minister Sheikh Zaki Yamani. ``We're entering a probable war with low inventory cover. Prices could go higher still as the war drums beat louder.''
____________
Dollar falls-Gold down?

Buena Fe (03/07/03; 07:56:37MT - usagold.com msg#: 99058)
ppt
ha ha, what a hoot,

when the market action (particularily gold) is this blatantly managed, as it is this morning (imho) you KNOW that you are close to a major (once in 20yr) break point!

gold may go from the "prison" to the "palace" in a move so fast that most folks will be "battin their eyes like a frog in a hail storm"!

get under cover mertle before those hail stones knock you senseless, and in a dissy state you'll want to sell yur yellur jsut before she goes.

mikal (03/07/03; 07:35:37MT - usagold.com msg#: 99057)
Gold believer's messages increasingly emphatic
http://www.gold-eagle.com/gold_digest_03/russell030803.html
Russell On Global Affairs & the Markets
Richard Russell -March 8, 2003 -Excerpts:
"What about the economy?
Hey good news. St. Louis Fed. President William Poole said the odds of a double-dip recession in the US remains small. Right, you dunder-head, we can't have a double-dip recession because we never got out of the single dip. Surprise, we've been in a recession all along.
Today the US Labor Dept. reported that claims for unemployment have jumped to 430,000, highest for the year. This doesn't include all the workers who's unemployment pay has run out, leaving them jobless with no income at all.
Here in the Golden State, the deficit hole gets deeper by the billions of dollars.....
I do know how the moving averages are doing. Today the declining 200-day MA of the Dow stands at a new bear market low of 8550. The faster-moving 50-day MA of the Dow stands at 8194. The spread between the two has widened to 356, widest yet on the decline. On a trend basis, the Dow's decline is accelerating.....
However, my own studies tell me that the bear market in the US is still nowhere near completed. We've got a long way to go, and people are getting impatient.
In the next Dow Theory Letter I'll be going into the question of the Dow in detail. And it will not be a happy experience, I'm sad to say.....
Gold -- Looking at the daily chart of April gold, it appears that following the sharp correction following the February 5 peak of 384.50, gold tumbled. But it looks as though April gold has formed a double bottom in the 345 area. Gold has been climbing higher since it's last low of February 28 at 345.00.
The rising 200-day MA of April gold stands today at 330. The rising 50-day MA stands today at 357.30. Any close above 357.30 would constitute a "buy signal."
Incidentally, at gold's recent high of 384.50 its 200-day MA was at 326. This means that gold was 15% above its MA. As a rule, when any item if at 10% or more above or below its 200-day MA, that item is "stretched."
Currently, gold is 7% above its 200-day MA, and I continue to believe that there is a 80/20 percent chance that the correction is over....." End snippitts

Carl H (3/7/03; 06:35:45MT - usagold.com msg#: 99056)
Welcome ProInvidia
I also found your commentary interesting. I thought I might add my own to it.

I am an American and am residing abroad right now. We are in Changzhou, China. It is a "small" city, "small" being somewhat on the high side of 1M. It is located about 75 miles east of Shanghai. We have been here 6 weeks or so. I have had a couple opportunities to price gold here. The gold I priced was in jewlry shops, but was in a bullion form -- rather like the 1Kg bars, but smaller, say 100g, or 200g. It was priced at 129RMB/g which works out to about $484/oz. The stores were not particularly busy.

Asaf (3/7/03; 05:43:53MT - usagold.com msg#: 99055)
Hello to all!
Hi, my name is Asaf and I am new to the forum. I am certainly a "precious metals bug", and my main interest in this field is about the monetary use of metals. I support the restoration of metallism in our world.
Anyhow, I love this forum, it is a very interesting place on the net, and I hope it'll continue to be so.

PS, I hope that I'll soon submit to the contest... (-:

Boilermaker (3/7/03; 05:24:26MT - usagold.com msg#: 99054)
ProInvidia msg#: 99042
Welcome to the forum. Enjoyed your post last PM especially the description of Japanese gold buying and real estate markets. Hope to hear more from you.

Cheers,
Boilermaker

silvercollector (3/7/03; 04:43:19MT - usagold.com msg#: 99053)
Not too much being said about Bush's little speech .....
...hope everyone has their act together.

The man has been doing alot of soul searching lately....sure signof war. He states "we have food and medical supplies ready" for the Iraqi people. He speaks in 'done deal' tone, a psych major would have a proper term for this.

I had a sensitive post removed Saturday morning, I guess it was too hot to handle. Too bad Bush blew the chance to end this morbid war game in Tora Bora.

Now he faces the biggest decision in human history....and he's made the call.

Sundeck (3/7/03; 04:26:27MT - usagold.com msg#: 99052)
Waverider #99046 - US dollar and POG
Lady Waverider,

Hour-to-hour and day-to-day correlation between POG and USDX is low, as you have observed. Some days there are roughly coincident shifts that are very suggestive, but there are too many things going on to get a very good correlation in the short term.

Suggest instead you do a simple scatter plot of POG and USDX for the last couple of years (INO show data back to June 01). No need to be fancy, just take a dozen or so weekly averages at different points along the curves so that the whole variation in POG (260 to 380) and USDX (120 to 98) is well represented in your scatter plot. There is a quite good linear relationship described by:

P = -4.35 x D + 782

where D is the USDX and P is the price of gold in US dollars.

You can check. At the moment I write this the USDX is 98, so evaluating the equation gives you P = 356, so we are roughly on track.

You may get wild excursions from this rule for up to several days (like back at the beginning of Feb), but over time the equation is good.

Please note, however, that this is an "empirical" formula deduced by fitting a straight line to the data over the last couple of years. There are no obvious underlying fundamental reasons leading to this equation, and there is no guarantee that it will hold in the future, so caveat emptor - "let the buyer beware"!

:-)

Sundeck

Black Blade (3/7/03; 03:33:21MT - usagold.com msg#: 99051)
Auto Incentives Rise, but Sales Decline
http://biz.yahoo.com/ap/030307/auto_incentives_1.html

Snippit:

DETROIT (AP) -- Incentives on new cars and trucks rose 10 percent in February from the month before, but the financing deals and cash-back offers weren't enough to stave off a disappointing sales month -- a sign the enticements may be losing their effectiveness.

Black Blade: Tapped out consumers just aren't ready to take on any more debt.

BTW, the USD just slipped below 98.

Black Blade (3/7/03; 02:23:20MT - usagold.com msg#: 99050)
Market Indicators
http://www.mrci.com/qpnight.asp

US market index futures are sharply lower, the USD about to go sub 98, gold is flat, oil and NatGas are higher. Should be "entertaining" on Wall Street today.

- Black Blade

Black Blade (3/7/03; 02:17:47MT - usagold.com msg#: 99049)
Global Market Meltdown
http://quote.yahoo.com/m2?u

Stock markets around the globe are awash in red.

- Black Blade

Gandalf the White (3/7/03; 00:15:48MT - usagold.com msg#: 99048)
TAAAA TAAAA TAAAAAAAAAAAAA --- POG Prognostication CONTEST
http://www.usagold.com/contest.html
Listing UP-DATED as of FRIDAY, 3/7/03, 00:01 Denver Time !

NOTE to CONTEST entrants -- Please check to see if your "Prognostication" number has been taken in any newly entered guess, AFTER the above posting time, just before you submit yours, so that there are not any duplications ! Thanks <;-)

**** $417.3 **** ha_tey_o (02/27/03; 13:26:50MT - usagold.com msg#: 98536)

**** $404.5 **** Operative (3/4/03; 13:21:24MT - usagold.com msg#: 98861)

**** $400.0 **** Zhisheng (02/28/03; 02:08:11MT - usagold.com msg#: 98564)

**** $399.0 **** Ananse (03/06/03; 21:16:09MT - usagold.com msg#: 99033)

**** $392.5 **** physicalman (03/03/03; 22:17:57MT - usagold.com msg#: 98824)

**** $388.8 **** Believer (3/4/03; 17:29:21MT - usagold.com msg#: 98891)

**** $385.5 **** Skydog (02/28/03; 06:27:22MT - usagold.com msg#: 98581)
**** $385.4 **** slingshot (02/27/03; 23:49:24MT - usagold.com msg#: 98555)

**** $381.5 **** GoldnSilver2002 (02/27/03; 10:57:23MT - usagold.com msg#: 98525

**** $378.0 **** Mountain Top (02/27/03; 17:04:57MT - usagold.com msg#: 98543)

**** $377.8 **** Toolie (02/27/03; 21:19:52MT - usagold.com msg#: 98550)
**** $377.7 **** Roccoco (3/4/03; 18:59:37MT - usagold.com msg#: 98902)

**** $375.1 **** Pizz (02/28/03; 18:00:29MT - usagold.com msg#: 98630)

**** $372.7 **** Noble1 (03/03/03; 20:42:09MT - usagold.com msg#: 98819)

**** $368.5 **** pilgrims_gold (02/27/03; 17:26:55MT - usagold.com msg#: 98544)

**** $365.4 **** harryo (02/27/03; 15:48:27MT - usagold.com msg#: 98541)

**** $362.4 **** Boilermaker (3/4/03; 15:25:24MT - usagold.com msg#: 98876)

**** $360.8 **** VanRip (03/03/03; 19:11:10MT - usagold.com msg#: 98814)

**** $356.5 **** Liberty Head (02/28/03; 18:45:13MT - usagold.com msg#: 98634)

**** $355.0 **** Clink! (02/28/03; 07:02:36MT - usagold.com msg#: 98584)

**** $354.7 **** RILEY (03/06/03; 13:11:19MT - usagold.com msg#: 99016)

**** $352.4 **** Zelts (02/28/03; 08:13:07MT - usagold.com msg#: 98592)

**** $348.5 **** Kevin$ (02/27/03; 12:47:30MT - usagold.com msg#: 98535)

**** $344.0 **** monTROZ (03/03/03; 12:35:48MT - usagold.com msg#: 98787)

**** $340.0 **** kahulik (3/2/03; 13:35:28MT - usagold.com msg#: 98733)

**** $336.5 **** Topaz (02/27/03; 22:17:44MT - usagold.com msg#: 98554)

ViewYesterday's Discussion.

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