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ARCHIVED DISCUSSION FROM 3/7/2004 All times are U.S. Mountain Time (Yesterday's Discussion.) Goldilox (03/07/04; 23:30:23MT - usagold.com msg#: 118207) Overnight Ag http://focus.comdirect.co.uk/en/detail/_pages/charts/main.html?sSymbol=SLV.FX1 Ag has dropped and regrouped $0.20 already this evening. Both Comdirect and Kitco confirm. Get ready for a wild ride!Too bad about the Card! There's always next year. Gandalf the White (03/07/04; 23:25:43MT - usagold.com msg#: 118206) Sorry Sir Goldie ! NOW the Cardinal is 26-1 !!!!! Goldilox (03/07/04; 21:16:45MT - usagold.com msg#: 118196)March MadnessGo Stanford! Undefeated so far!===You must not have been in Seattle last night !IT WAS GOLDEN ---- UPSET !!!<;-) Druid (03/07/04; 22:57:18MT - usagold.com msg#: 118205) Dollar Bill (03/07/04; 22:13:44MT - usagold.com msg#: 118202) [PDF] THE CHINESE SILVER STANDARD ECONOMY AND THE 1929 GREAT DEPRESSION "In discussing the 30's depression..."As Friedman and Schwartz noted in their book, countries such as China--which used a silver standard rather than a gold standard--avoided the Depression almost entirely." This was all I could find on it. Anyone have further info?"Druid: DB, enjoy the read, it's a 24 page downloadable PDF file on your question. Sundeck (03/07/04; 22:32:41MT - usagold.com msg#: 118204) The Bulls Are Back. The Brokers Are Wary. http://www.nytimes.com/2004/03/07/business/yourmoney/07boom.html?th ...and the lemmings appear to be assembling for the next run at the cliff...in spite of warnings from Mr Buffett et al.:-) Sundeck (03/07/04; 22:30:00MT - usagold.com msg#: 118203) Motorists Chafing Under a Steady Rise in Gas Prices http://www.nytimes.com/2004/03/06/national/06GAS.html?th Some light reading in the NYT on the effect on typical motorists of (automobile) gas price increases...inflationary and a large brake on the economy...no?:-)...and a Very Happy Birthday to Sir MK from Oz Dollar Bill (03/07/04; 22:13:44MT - usagold.com msg#: 118202) .,. In discussing the 30's depression... "As Friedman and Schwartz noted in their book, countries such as China--which used a silver standard rather than a gold standard--avoided the Depression almost entirely." This was all I could find on it. Anyone have further info? Goldilox (03/07/04; 22:01:25MT - usagold.com msg#: 118201) Silver Anthem http://www.financialsense.com OK, as long as we're getting a bit tipsy for MK's birthday, I found this over at Puplava's site."To be sung with John Denver's 'Thank God I'm a Country Boy'by Jonathon CarlsonMarch 6, 2004Well tradin’ in Silver is not laid backBetter than tech stocks that ain't comin’ backAll metals goin’ rise Comex goin’ crackThank God I'm in Silver boy!Well hoarding bars and coins never did me no harmBurying it with the family all over the farmThe dollar's last days will not be a charmThank God I'm in Silver boy!(Chorus) Well I bought a Silver mine never had to dicker When suns comin’ up got Kitco in the tickerShortin’ ain't nothin’ but a funny funny kickerThank God I'm in Silver boy!Well life will be fun Silver to the moonSpitzer on the case Crimex gone by JuneLooking to be driving that red Ferrari soonThank God I'm in Silver boy!When the tradin's all done and dollars sinkin’ lowPrint out Butler's latest and take it nice and slowDays of the cartel are getting mighty lowThank God I'm in Silver boy!(Chorus)I'd trade Silver contracts night and day if I couldBut my wife and the doctor wouldn't take it very goodTradin’ when I can taking profit when I shouldThank God I'm in Silver boy!The cartels on the run and the crooks are in jailManipulations gone and Silver's not for saleDon't tell the feds it's stashed under a baleThank God I'm in Silver boy!(Chorus)Well I wouldn't trade my wife for gold or jewelsDon't put it past me cuz I'm a precious metal foolNever sell short is the golden ruleThank God I'm in Silver boy!© 2004 Jonathon CarlsonCalgary, Canada" Smeagol (03/07/04; 21:55:21MT - usagold.com msg#: 118200) sss... late to the party, but... ...we wishes you, Sir MK, a very ssatisfactory Birthday, and many more to come! But if you get any rings for birthday presents, we don't wants to know !!!S. Goldilox (03/07/04; 21:49:49MT - usagold.com msg#: 118199) Mr Magooo @ Mikal:Make that "Master of Ambiguous, Gratuitous Orificial Obfuscatory Oration - MAGOOO mikal (03/07/04; 21:28:47MT - usagold.com msg#: 118198) Without doubt, on balance, at the present juncture... we would argue most strenuously, that in hindsight, the remediating influence of our easy credit and diligent monetary stimulation, certainly, have granted considerable leverage to our most important sectors, without which, truly we would have taken considerable risk that a small correction in spending, indeed as our projections showed, would have taken us to unknown levels of indefinable money supply, delaying the sort of productivity that our standard of living depends upon, and which thrives on the balance of risk factors leaning heavily in favor of continued recovery, as our models have repeatedly shown, and assuredly the committee endorses that view..." Chairman Magoo, Master of Orificial Obfuscatory Oration Druid (03/07/04; 21:21:57MT - usagold.com msg#: 118197) Oil prices keep climbing as tensions rise in Venezuela http://www.taipeitimes.com/News/biz/archives/2004/03/07/2003101524 Snip."New York's benchmark crude oil contract broke above US$37 a barrel Friday for the first time since the Iraq war, kicked higher by tensions in major producer Venezuela.Light sweet crude for delivery in April leapt US$0.62 to US$37.26 a barrel at the close. Brent North Sea crude for April rose US$0.46 to finish at US$33.35.Traders feared a repeat of last year's interruption to supplies from violence-torn Venezuela, where at least eight people have been killed and dozens injured in recent days in unrest over an official refusal to hold a referendum to recall President Hugo Chavez."People remember very well what happened when Venezuela went on strike," said Refco analyst Jim Still. "They are very nervous.""Druid: Can you imagine sitting there with your trillions of dollars just waiting to spend them on a finite set of physical goods that aren't available? Let's see now, gold/oil/lattes from Starbucks, what shall I buy??? Goldilox (03/07/04; 21:16:45MT - usagold.com msg#: 118196) March Madness Go Stanford! Undefeated so far! MK (03/07/04; 21:15:55MT - usagold.com msg#: 118195) Best wishes. . . I want to thank all of you for the kind birthday wishes. It's nice to know you've got friends.So what do we have here? Our own version of March Madness?? (Smile)Must be something about the Muse and the month of March..........At any rate, Happy Birthday to all of you as well. . . . Dollar Bill (03/07/04; 21:01:41MT - usagold.com msg#: 118194) .,. Hyperinflation Blues. "High prices of crude oil and raw materials are posing a serious threat to the resources-deficient South Korean economy, with growing concerns that surging import prices will build up inflationary pressure and undermine experts and domestic consumption. Local manufacturers are striving to secure raw materials and the government has made ‘all-out’ efforts to ease scarcity of industrial resources, but analysts warn troubles would prolong, putting a heavy burden on the nation's mainstay industrial sectors. Some experts predicted an industry-wide crisis in the coming months due to the price hike as **** most manufacturers are expected to run out of their current stocks of raw materials in March." egad. What a year this will be! Druid (03/07/04; 20:28:04MT - usagold.com msg#: 118193) Druid (03/07/04; 20:25:29MT - usagold.com msg#: 118192) http://portland.indymedia.org/en/2002/04/9384.shtml Reference previous post.Druid: Woops. Enjoy. Druid (03/07/04; 20:25:29MT - usagold.com msg#: 118192) (No Subject) Druid: Happy Birthday Sir MK from another March kid and many thanks for providing this great venue. For those of you who might be interested in some intrigue at the lowest(highest) levels, this info. is a bit dated and covers many areas so parse with care. Here's a little snip to peak your interest:***********************************************************The July 12 article on the Pravda front page was the most sensational warning, and certainly the most public, of all. It spelled out who, what, where, when and why. Only the "when" was, by some accounts, deliberately misleading by a matter of only a few weeks. The Pravda article (and a later follow-up) were preceded by some events that should have certainly grabbed the US’ riveted attention. In January 1999, maverick economist Artur Sazonov floated a plan for a "gold-backed ruble," linked to the European Monetary Union currency, the euro. Komsomolskaya Pravda wrote it up at that time, under the headline, "Why Not a Gold Ruble, Gentlemen? Introduction of New European Currency Makes You Wonder Whether Russia Should Be Going Along With the Dollar." Sazonov proposed linking the new currency to the euro, not just for the sake of exploiting a putative "euro vs. dollar" rivalry, but to replicate some of the credit and development features of the 1920s arrangements. He proposed that circulation of the dollar inside Russia be banned, and that payment for Russian oil, gas, and other raw materials sold to Europe be accepted only in gold rubles. Komsomolskaya commented at that time, "If the 'golden ruble' idea is adopted, we could print as many ordinary rubles as we like without fear of inflation.... The initial task of the 'gold ruble' would be to squeeze the dollar out of the country, but gradually it would also replace the 'ordinary' ruble." (Executive Intelligence Review, "Russians Anticipate Dollar and Bush Crash" by Dr. Edwin Viera, 27 July 2001) Outspoken Russian economist Tatyana Koryagina, who has close and free access to Russian President Vladimir Putin, suggested in her testimony to Sergei Glazyev's State Duma hearings on June 29 (Executive Intelligence Review, July 6 and 20, 2001) that holders of dollars will soon be able to use them for nothing but wallpapering their toilet stalls. On July 4, Pavel Bykov wrote in the financial weekly Ekspert, "The gold chervonets is back in Russia. The Bank of Russia could not have picked better timing for its comeback.... Withdrawing some amount of rubles from circulation and replacing it with chervontsy [plural], minted in the former Soviet Union but unsuitable for any other use since then, is not a bad combination. All the better, if the chervonets manages to crowd out the U.S. dollar and Russians start using it as an alternative savings currency." The Central Bank's action, according to Ekspert, "shows that the bank is seriously interested in creating a liquid market for the gold coins. After all, a dollar is just a piece of paper, while Russia has always preferred more valuable things...." The Bank of Russia (Central Bank) acted on July 10, making the gold chervonets legal tender. The coins were minted as prospective souvenirs in 1980, at the time of the Moscow Olympics in the Soviet Union, but the more interesting historical reference point is the 1920s coin, of which the modern chervonets is a replica. That currency was introduced at the initiative of Soviet Foreign Minister Chicherin in connection with the Soviet-German Rapallo agreements, acting at odds with the Versailles Treaty powers. That chervonets was used exclusively for foreign settlements. The revived chervonets is being discussed in the Russian press, as related to the coming crash of the U.S. dollar. Kommersant wrote that the chervonets, taken out of mothballs in the Bank of Russia's depository, may become "a full-blown circulating currency, which the Russians may soon choose as an equivalent for personal savings instead of the U.S dollar." Clearly, the Russian government was making concrete plans based on its knowledge of "a devastating attack" on the US financial center of New York. These were not just secretive government plans, but were quite public, urging the Russian people to get rid of their dollars now. The refusal of US intelligence to even make inquiries strongly suggests that what the Russians were saying about a "power elite" was true, and US powers preferred to simply ignore it rather than draw attention to it. Two days later, the July 12th Pravda interview exploded across the front page with all the subtlety of an atomic bomb. The Japanese could not have heralded the Pearl Harbor attack any better had they taken out a full-page ad on Page One of the New York Times. Tatyana Koryagina made a statement at the end of hearings - as a Russian expert in the shadow economy, shadow politics and conspirology. She is a senior research fellow in the Institute of Macroeconomic Researches subordinated to Russian Ministry of Economic Development (Minekonom). The main theme of the Duma hearings was the rapidly approaching economic crash of the U.S. The hearings focused on preparing recommendations for President Putin as to what Russia should to do to soften the consequences of this coming catastrophe. Here is an excerpt (emphasis added): Question. All the participants at the hearings stated that America is a huge financial pyramid, which will crash soon. Still, it is hard to understand how this could happen in the first and richest country of the world - without a war, without missile or bomb strikes? Koryagina: Besides bombs and missiles, there are other kinds of weaponry, much more destructive ones. . . . Question: Well, economic theory. But how it is possible for you to give an exact date (for the U.S. crash) - August 19? Koryagina: The U.S. is engaged in a mortal economic game. The known history of civilization is merely the visible part of the iceberg. There is a shadow economy, shadow politics and also a shadow history, known to conspirologists. There are (unseen) forces acting in the world, unstoppable for (most powerful) countries and even continents. Question: Just these forces intend to smash America on August 19? Koryagina: 'There are international, "super-state" and "super-government" groups. In accordance with tradition, the mystical and religious components play extremely important roles in human history' One must take into account the shadow economy, shadow politics and the religious component, while predicting the development of the present financial situation. Question. Still I don't understand what could be done to this giant country [i.e., the U.S.], whose budget is calculated in the trillions of dollars. Koryagina: It is possible to do anything to the U.S. . . .whose total debt has reached $26 trillion. Generally, the Western economy is at the boiling point now. Shadow financial actives of $300 trillion are hanging over the planet. At any moment, they could fall on any stock exchange and cause panic and crash. The recent crisis in Southeast Asia, which touched Russia, was a rehearsal. Question: . . .What is the sense of smashing just America? Koryagina: The U.S. has been chosen as the object of financial attack because the financial center of the planet is located there. The effect will be maximal. The strike waves of economic crisis will spread over the planet instantly, and will remind us of the blast of a huge nuclear bomb. Question: Did Russia's crisis of 1998 have this religious-mystical component? Koryagina: . . .The Russian crisis of 1998 was preconditioned by internal factors. Yeltsin's policy enlarged its consequences. Now we have President Putin, and this is a good choice. Question: What do we have to do now? Koryagina: Recommendations, compiled by the Duma Commission of Economic Politics after the recent Duma hearings, offer instruction on what should be done to escape the consequences of a world crisis inspired by a financial catastrophe in the U.S. This document will be sent - or has already been sent - to President Putin. Question: What should Russian citizens do? Koryagina: They should start changing their dollars for rubles. President Putin and the Russian Central Bank are already taking the necessary healthy measures. There are high chances that after 19 August the ruble will become a very good currency. Question: Why 19 August and, say, not the 21st? Koryagina: Some fluctuation in this date is possible. Serious forces are acting against THOSE WHO ARE NOW PREPARING THE ATTACK ON THE UNITED STATES. August, with very high probability, will bring the financial catastrophe to the U.S. . . .The last 10 days of August have especial importance from a religious-sensible point of view. (Pravda, 12 July 2001) Goldilox (03/07/04; 20:25:28MT - usagold.com msg#: 118191) IMF gold @ MikalIsn't one of the requirements that the IMF puts on third-world CBs to sell there gold reserves and replace them with currency reserves? Sounds like a protection racket to me. mikal (03/07/04; 20:17:19MT - usagold.com msg#: 118190) @Goldilox, knotakare http://seattletimes.nwsource.com/html/businesstechnology/2001873525_pfcurrier07.html Well said. Goldilox- Time will tell who the next scapegoat will be; they're going to need a lot of them.Knotakare- IMF gold is one of the largest hoards in the world. Maybe you're right about the BIS, except perhaps the IMF, not the ECB, will be their prey- "Jost ah leetle clozer now...SSLLUURRRPPP!"Here's a little story that seems to be repeating itself lately. So much in fact, that it may be a tidy little collection of some new household cliche's in coming months: Sunday, March 07, 2004 Small-cap manager cautions investors that valuations are pretty high By Chet Currier -Excerpts:"Whenever a skilled tradesman points out flaws in his own wares, it's time to pay attention. Candor of that kind is something you don't see every day. So any investor caught up in the boom in small-company stocks might listen with both ears to what the manager of a prominent small-stock fund says. "Small-caps have outperformed large-caps now for almost five years, and such cycles rarely last for more than six years," says Jack Laporte, in his 17th year at the helm of the $5.2 billion T. Rowe Price New Horizons Fund. "We are clearly in the latter stages of this cycle," Laporte writes in the fund's annual report." "Even on investor sentiment in general, though, Laporte acknowledges some misgivings. "The outlook for the economy and the stock market in 2004 is quite positive," he says. "Perhaps the biggest concern is that this upbeat outlook is shared by almost all investors and market prognosticators. The consensus view is rarely right for an extended period."" slingshot (03/07/04; 19:59:52MT - usagold.com msg#: 118189) Sir M.K. Happy Birthday, Sir M.K.Slingshot-------------<> Goldilox (03/07/04; 19:54:52MT - usagold.com msg#: 118188) public knowledge vs. public acceptance @ Boilermaker:I admire your optimism, but do not share it, especially in the area of public dissemination of information. When I examine the evidence of FED and government complicity in the debauchery of the US$ (over decades, not just recently) and its role in the Great Depression, and the strong evidence of historical revisionism and profiteering during WWI and WWII and their successive sub-plots, I see no reason to believe that any current or future administration will suddenly blow the whistle and start a "time-out" for truth. Notice the Elliot Spitzers of the world "carefully" pick their targets, and ignore GATA requests for attention to serious large scale corruption.Scapegoats will be publicly paraded, but it will be no different than watching hours of the Martha Stewart trial (all about "lying" to her persecutors, not her $40,000 gain from insider trading). The really big hulabaloos, like ENRON $BILLIONs being funneled offshore to some PPT-type account while the perps were the biggest contributors to the White House will never make any headlines outside the "radical internet sites". Yeah, a few ENRON boyz will take a fall, but the $BILLIONs have long ago performed a Houdini to the Cayman Banks. NO wonder one of the Senators asked Greenspam why there was recently such a huge growth in US-T securities from "unkown" sources in the Caribbean banking islands. All these investigations will take widely divergent turns as did the Whitewater investigation and the Warren Commission. All "modified" for reasons of "National Security". Well, "Homelund Security" makes the old "National Security" exercise look like child's play.War is never fought for the reasons publicly promoted, and financial crises are never resolved to anyone's benefit except the banksters who screwed things up in the first place. Clueless governments are propped up by the banksters, and they carefully "control" the media, as we have witnessed in the last century. The "stories" will have their heroes and goats, all manufactured for both entertainment and containment value. The "Show must go on" as must "Business as Usual". Jessica Lynch and Johnny Walker Lindh - give some witless pawns the headlines, as the lumps can relate to them!The lumps MUST be fleeced, as finance is a "zero-sum" game, and the banksters MUST win. "Truthful" accounts would foment revolution, so the stories will be fabricated once again to make the perps out to be "heroes of the people". Maybe GS will get his image on the $Billion dollar bill, as he so powerfully assisted the process in requiring one.Got Gold? The interesting times are already here, and have been throughout recorded "history". knotakare (03/07/04; 19:43:41MT - usagold.com msg#: 118187) IMF Gold : Statement http://www.imf.org/external/np/exr/facts/gold.htm "As an undervalued asset held by the IMF, gold provides fundamental strength to its balance sheet. Any mobilization of IMF gold should avoid weakening its overall financial position."I think this is an interesting statement; it is right on their website. I think most bankers recognize the true leverage of gold, especially in a fiat meltdown. If the IMF sold its gold, the bankers and politicians could close them down.I need to start digging around on the BIS website; I think much of the gold sold in the last last 10 years has headed for the BIS. This is just my speculation.got gold and silver? got beans and barely? get you some! R Powell (03/07/04; 18:50:16MT - usagold.com msg#: 118186) So...what's up?? I just checked mrci's night quotes. Gold and silver are down as are all the currencies. Treasuries too are down. Every single currency listed was down. I thought these were relative strength index type numbers but they were all down. Hey, what do I know, maybe they're all down against corn. Corn was up about a quarter of a penny. Happy birthday Michael. 56 ? Rich mikal (03/07/04; 18:49:34MT - usagold.com msg#: 118185) Happy Birthday MK! http://www.reuters.com What are the bloody bastards up to now? Er, sorry...what could be the reason for all this "risk" and "bubble" talk out of officialdom these days? Go ahead, I'm listening, don't pull any punches, talk to me... G10 Central Bankers to Examine RecoverySun Mar 7, 2004 04:53 PM ET By Thomas Atkins and Natsuko Waki BASEL, Switzerland Reuters Business News -Excerpts: "Top central bankers will put the global economic recovery under a microscope on Monday amid some concerns that risk-hungry investors were driving markets higher than fundamentals might justify." "Equity prices have outpaced earnings improvements for about a year, pushing some valuations beyond historical averages, said the BIS, whose views are seen to reflect a consensus among monetary authorities. 'While improvements in global growth prospects and corporate finances would have justified some increase in the prices of equities, corporate bonds and sovereign debt, the size of the increases suggested further support from a robust appetite for risk,' said the BIS in its quarterly global economic report." "The subtle BIS warning about overvaluations came as leading monetary authorities ponder what role central banks should play vis-a-vis rising markets, either through bursting market bubbles, deflating them gently, or standing by idly." Boilermaker (03/07/04; 18:09:58MT - usagold.com msg#: 118184) The crash and aftermath GLox- I'd rather look to the recent past, The Great Depression of 1929-1940, as the history that may repeat for Americans. My take is that while today we may have only a very few who understand what the future holds and why, the vast majority of Americans when challenged and confronted with the truth about their corrupt system, will deal with it within the framework of the Constitution. Only if the right to vote and the Constitution are repealed will I lose my optimism. The revelations of corruption that we chatter about every day will become public knowledge after the crash. No President, Congress or Court will dare to propose, enact or defend laws that have abetted the process of corruption that we are experiencing. CoBra(too) (03/07/04; 17:06:19MT - usagold.com msg#: 118183) After the Credit Flood - Inflation Titles Bill Buckler in his latest issue of the Privateer and he concludes, the credit induced "business cycle" is taking its economic revenge. Credit has been pumped to the max and the currency has fallen. Now comes the the inevitable "third stage". Physical import costs are surging upwards. To stay viable, US business will have to pass these higher costs on to US consumers.Is this the reason behind the problems of not reporting the PPI for weeks? Prices rising faster than the BLS can massage its statistics in order to disguise the fact? Hedonic reporting caught in its own fallacy? Or just as simple as, you just can't get away forever with seasonal adjustments, exclusion of volatile prices and other hedonic accounting, when the true facts are massively impacting the average cost of living in the US.Buckler also argues that the EU - of course amidst political food fights a.k.a. Schroeder -, in particular the ECB was not taking part in beggaring your neighbour ploys by trying to stem the Dollar tidal wave. Their main imports of energy and most resources have therefor stabilized and even lowered their input costs ... May it be they have learned something since the days of the Weimar Republic, a fact the SE Asians may be awakened to in the not too distant future.cb2MK - Best to you and many happy returns of the day from another (late) March kid. ... and BTW our favorite one ski guy has won the GS in Kitfjel in a sensational race. The CoinGuy (03/07/04; 15:52:19MT - usagold.com msg#: 118182) Another March Birthday here....the 11th Best of wishes to you on your Birthday Michael, I'll second CM's sentiment about Birthday's in March.Best to all as well,The CoinGuy Leigh (03/07/04; 15:37:39MT - usagold.com msg#: 118181) Mr. Gresham Mr. G, I think (I HOPE) Farfel graduated from Yale and was a businessman. I believe he did lecture at UCLA before at the business school (wasn't one lecture posted on G-E?). However, I think he was associated somehow with the entertainment industry, and I also think he is to this day an occasional poster at a neighboring forum. I don't know him personally at all, but this is information I've sort of gleaned from reading the three forums all these years. Goldilox (03/07/04; 15:36:53MT - usagold.com msg#: 118180) The crash and aftermath @ Boilermaker:You said: "If next week brings the beginning of the crash it will not be too soon for me. I suspect we are among a tiny fraction, akin to "The Remnant", who are prepared. I just hope to live long enough and be lucky enough to see a rebirth of this Nation that I love to its free and strong heritage."Probably what the Romans told themselves as their empire collapsed under the weight of similar pressures. A number of wise analysts have expressed great hope in major global adjustments as opposed to a great crash. With 99.9% of billions of people totally unprepared, the horror in the streets will be like nothing we've ever seen.Rome never reemerged anything like the grand republic founded by Remus and Romulus. The "Holy Roman Empire" (500 years later) wasn't even close."History doesn't repeat itself, it just rhymes." - Mark Twain Mr Gresham (03/07/04; 15:31:58MT - usagold.com msg#: 118179) Our friend Farfel, remembered http://www.today.ucla.edu/2002/020813namesfaces.html Did I miss his passing two springs ago? It seems like just recently he returned to see us here, and we were greeting his return..."Senior Lecturer David Cohen died on May 21 after a long battle with leukemia. He was 59. He received his B.A. in mathematics from UCLA in 1965 and, following two years of teaching for the Peace Corps in Nigeria, received a master's degree from San Francisco State University in 1971. He continued graduate work in mathematics at the University of Hawaii during 1972-73 and joined UCLA's Mathematics Department in January 1974 as a lecturer in charge of the department's remedial program. Cohen quickly earned a reputation as an excellent and effective teacher and soon became director of the precalculus program and a summer program for incoming students, as well as providing advice on other courses at the freshman level. The problems and notes that he prepared for his precalculus course eventually became the basis for several successful textbooks. As an instructor, Cohen maintained very high standards for his students, yet developed an outstanding rapport with them. In 1986, Cohen received the UCLA non-Academic Senate Distinguished Teaching Award. In 1993, the Southern California Section of the Mathematical Association of America nominated Cohen for the association's national teaching award. His precalculus textbooks won high praise from reviewers nationwide for their problem-oriented approach. He was promoted to senior lecturer at UCLA in 1999." USAGOLD / Centennial Precious Metals, Inc. (03/07/04; 15:24:49MT - usagold.com msg#: 118178) Peace of mind, 24/seven . . . . . . .(plus, check out the new special!) http://www.usagold.com/buy-gold-coins.html Cometose (03/07/04; 15:18:25MT - usagold.com msg#: 118177) Birthday Wishes Happy birthday , Mike .....May you be Blessed beyond you wildest imaginations in every area of your life...THANK YOU !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!On behalf of my Children.....THANK YOU !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!On behalf of my (future) GRANDCHILDREN ...THANK YOU !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Cavan Man (03/07/04; 15:14:07MT - usagold.com msg#: 118176) Hi MK My birthday is next week. I have always liked and admired (and gotten along famously with) people born in March. You Sir are no exception. Kind regards...CM Mr Gresham (03/07/04; 15:01:12MT - usagold.com msg#: 118175) Am I being uncharitable? http://www.realliquidity.com/investors.htm I think not ;)Look at the "deal" they're offering to "investors".I would have to call this page "The Triumph of The Jargon". It is written in near-perfect financialese. And that is enough to impress most of the Bobos managing OPM.It takes someone who's been around awhile, like a Buffett, or Goldheart, to stand against this folly."Real Liquidity offers institutional investors the opportunity to gain access to the residential real estate asset class through a variety of vehicles. "Historically, residential real estate has exhibited little correlation with stocks or bonds. Indeed, for the period 1964-2000 the correlation was actually negative. The beta for residential real estate has been estimated to be close to zero. The attractive risk and return features of residential real estate securities mean that their presence in a portfolio expands the efficient frontier. This offers all investors the opportunity to increase their expected returns while maintaining the same level of risk."We view our benchmark as being the OFHEO index +5% (representing the implicit rent on housing). Our actively managed fund will seek to exceed this benchmark by exploiting the predictability of housing returns across markets and through the appropriate use of leverage."For managers of defined benefit pension plans residential real estate securities should prove to be even more attractive. ..."And blah and blah and blah-blah-blah-blah.Scum. I gotta stop reading this stuff. Let me outa here... Mr Gresham (03/07/04; 14:39:13MT - usagold.com msg#: 118174) Madness of King George http://www.realliquidity.com/homeowners.htm And here is the offending entry into the Land of the Lotus-Eaters:"House price insurance.Real Liquidity's house price insurance product provides protection to homeowners that live in declining markets. For a single, up-front premium a homeowner can purchase protection against future declines in the value of their residential real estate market."Real Liquidity has partnered with Neighborhood Reinvestment Corporation, Freddie Mac and others to introduce the Home Equity Protection Program (HEPP) in Syracuse. ..."Real estate futures.By selling a long dated futures contract on their local market homeowners can hedge the local house price risk they take on when buying a home. Purchasing a corresponding long futures contract in the aggregate housing index will enable a homeowner to retain exposure to the residential real estate asset class, but with much reduced volatility."G: I mean, is this a SPOOF site? IMAGINE the craziness of creating a separate derivative "product" to sell based on each housing zip code? And you don't even have to have this as a hedge against a home you own.You could be selling just because you think prices will go down, having already sold your house and moved into a rental. Or it could be buying in to local prices (selling the put?), because you can't afford to buy now, but want to make some money if they go up.Why, it could even BACKFIRE on them! Suppose eventually people stopped buying as many houses, satisfied with the holding of "paper houses", really the paper contract representing an average house value?You could even end up with a 25-year bear market in houses with such an "innovation" substituting for actual house buying. Kind of like something else we know of very well?Good thing gold doesn't cost a different price in every zip code. ;) All I can think of when I read s**t like this is that TOO MANY PEOPLE inhabit this shrinking Turtle Island, and they're having trouble finding USEFUL jobs to do, and some of them just need to go away.I was going to say "TOO MANY (brainless) PEOPLE", but I realize some of them may be quite clever, and just looking for a way to survive in any situation, as humans will cleverly do. So it must be their parents who were stupid to have so many of them, and put them into this situation?Rev. Malthus was over again for dinner last night. Mentioned that Hobbes would be in town soon. No one can remember his face.No TV in my house. DIE-OFF a comin'? Mr Gresham (03/07/04; 14:23:04MT - usagold.com msg#: 118173) PUT-ting it all together http://www.321gold.com/editorials/heller/heller030804.html Part II of Steve Heller's epistle on the No-Pay mortgage, the "ultimate innovation" in home finance. Curioser and curioser. Or, no wonder Alan Greenspan loves derivatives so much: they allow you to dream any dream you like -- until it's time to wake up. Economists On Acid."The basic idea is simplicity itself. You purchase what amounts to a "put option" against the average value of home prices in a particular ZIP code. If that average value goes down, you are paid the difference when you sell your house, even if you actually sell your house for more than the "covered amount." But what makes this really special is two features that one might not expect to find in such a program: first, you can buy the put option to cover more than the current price of the house, and second, you can finance the premium on the option. So what does this mean to us?"It suggests the possibility that you could buy a put option on the price of your house multiplied by whatever factor was necessary to cover all the interest on the "no pay" mortgage, and finance the price of the option itself. Thus, you would have absolutely no outlay of money, and the lenders would be certain of getting their money back at the end of the loan term."To make this work, we would have to change the existing plan slightly, in addition to expanding it to a nationwide program. The only changes needed would be to allow the "covered amount" to be whatever wasnecessary to pay off the mortgage at the end, and to guarantee payment of that amount, regardless of what happened to house prices in the meantime. Then the lenders could be absolutely certain to get their money back, no matter what happened in the interim period."Happy Birthday MK! Yes, we've got some catching up to do, bro... Boilermaker (03/07/04; 14:09:24MT - usagold.com msg#: 118172) Curmudgeonly Compliments, not Sarcasm GLox, I guess I'm just a proud old curmudgeon, happy to wear my age openly (sometimes shading it to the high side) and hoping others will give me some latitude because of it. Perhaps I've crossed that line where one begins to say I'm a contented but crotchety old geezer. But I'm sure Gandy thinks as I do that to be young at heart is a matter of attitude and may we never grow old in that category. Our sermon today was about communication and the need to be truthful and also mindful of the effect that your words have on others. The Lord knows I am often in need of maintaining silence when the sarcasm devil wags my tongue. I do try but often fail. I wish to be forgiven and humbly apologise for any mean remarks.If next week brings the beginning of the crash it will not be too soon for me. I suspect we are among a tiny fraction, akin to "The Remnant", who are prepared. I just hope to live long enough and be lucky enough to see a rebirth of this Nation that I love to its free and strong heritage. Goldendome (03/07/04; 13:51:06MT - usagold.com msg#: 118171) More from Puplava Hi Rich: As you request... A little more from the Puplava interview with Murphy and King yesterday. First off: I was wrong on Murphey stating that China had 100% of 2005 Silver production "locked up" or spoken for. He actually said 75%, on my relistening to the show, so maybe that's where Smoothy had gotten his number the other day. Murphey, though, goes on to say in the next sentence or so, that many huge money investors have been trying to buy physical silver in quantity--some huge hedge funds included (I don't know if that's good or bad). They have found it impossible to find, if looking to invest (or speculate)by buying large quantities; now they are going to to the futures market to lock it up, and Murphy thinks eventually take delivery. He and King, think the big money sees the supply gone and they are coming in to get whats left... Murphy- looking for 30 to $40 silver within two years (Can it be true?-Only time will tell.)On Gold: They all feel that the financial, monetary, and political situations around the world will only worsen (as we also believe). This will drive the Gold demand and eventually the same run will occur at the short positions in the Gold manipulation market -- that is occuring now, in the Silver market. --The shorts (Gold) are being squeezed-it will intensify- and the flood or breakout will eventually happen in gold as physical price is unable to be controlled as the physical supply available declines. All see inflation worsening-- and of course-- inflation in necessary comodities the U.S. cannot control (gasoline, metals, etc.) --- and deflation possibly in credit driven markets- like real estate, autos, luxuries, etc.Rich: Hope this added information is soothing with your afternoon tea.. Best regards, Gdome Gandalf the White (03/07/04; 12:29:17MT - usagold.com msg#: 118170) HAPPY BIRTHDAY SIR M. K. !!!!! <;-) You have assisted so many with your words and efforts !I am so proud to have known you.The Hobbits are now singing your SONG.Happy Birthday to YOU !<;-) Goldilox (03/07/04; 12:25:48MT - usagold.com msg#: 118169) MK is very YOUNG at heart - not OLD DANG, BM:I thought I was sarcastic. Your gold buy price just went up 5%. Boilermaker (03/07/04; 12:22:52MT - usagold.com msg#: 118168) MK's Birthday Happy Birthday wishes to Sir Michael!! I don't recall how many years he has taken but judging from his wisdom he must be very old. :0) Boilermaker (03/07/04; 12:16:43MT - usagold.com msg#: 118167) The end is near : buy gold GLox, Over the past several years I've proclaimed to my friends my opinion that for the economy "the end is near". Like that scruffy old guy portayed in "The New Yorker" cartoons with a sandwich board with "REPENT" The End is Near (on the front side) and some pragmatically witty advice on how to prepare on the back side. My advice to friends has been to sell stocks, get/stay out of debt, convert fiat to gold and silver and generally prepare for hard times. Like many of us here at the forum the reaction I get is predictable; Where's this wacko coming from? Anyway, Alan Greenspan and his orchestra of Western bankers has kept the wolf from the door for so long that I have lost nearly all credibility with my message. So now I'm going to keep my mouth shut until TSHTF, then get a sandwich board with "REJOICE" The end has come! Reap what ye have sown! As much as I hate to see the system crash it's better that it come now so the recovery and healing can begin. I like the Ides of March, or perhaps St Patrick's Day the 17th (my birthday as well). Wasn't it St. Patrick who drove the snakes from Ireland? Perhaps his spirit can drive the bankers from their vaults and into the sea of debt. Goldilox (03/07/04; 12:02:04MT - usagold.com msg#: 118166) Ag From LeMetropoleCafe:snippit:"Silver's surprising week's end strength and resilience may be more fully explained should a rumored 8-million-ounce offtake of physical metal from the Comex become reality in Toronto."Goldilox:Congrats to MK on his birth anniversary. "May your days be many and happy as you approach the "golden" years and "silver" hairline! Waverider (03/07/04; 11:32:50MT - usagold.com msg#: 118165) ***** Happy Birthday Sir MK ***** TAATAATTAAATAATAAATAATAAAAAAAAAAAAAAAAAA.....Sound the TRUMPETS, break open a barrel of Negra Modelo...no, it's not a contest....it's a BIRTHDAY CELEBRATION....Yes Sir MK - I do know that today is YOUR special day so I wish you HEALTH, PEACE and PROSPERITY and again thank you for the privilege to participate on this august forum. Have a Golden Happy Birthday!Waverider Goldilox (03/07/04; 10:37:50MT - usagold.com msg#: 118164) Ides of March @ Boilermaker:Interesting that Sinclair targets the Ides as an important watch point, as well. Boilermaker (03/07/04; 10:34:24MT - usagold.com msg#: 118163) Beware the Ides of March MK's reference to Sir Alan's Shakesearean dilemma between prolonging an unsound system vs. reaching back to his golden roots reminds me of a Shakespeare character who fell afoul of conspirators in a corrupt system. Perhaps this will be played out not with Alan being knifed by an ambitious pretender to Fed Chairmanship or squashed like an overripe banana under the wheels of a speeding gold truck but with a great crashing of markets that will herald the New Depression.Anyway, keep your eyes open Monday, March 15. Topaz (03/07/04; 09:22:33MT - usagold.com msg#: 118162) Huge future Dollar investment to stem Cash Dollar rise. http://www.futuresource.com/charts/micro.jsp?d=LOW&go.y=13&r=&p=D&b=line&s=dx1%21&s=gc1%21&s=fvxy&s=tyxy&go.x=12&v= Reversing a persistent upward DX trend of late took it's toll on Bond Yields Friday and makes for an interesting week ahead. Will the new trading range be enough? Deflation deciples vindication. steady (03/07/04; 03:53:34MT - usagold.com msg#: 118161) INTENT/ INTENTIONS. those with clear INTENTIONS are buying gold and silver as steadily as they can! make sure you use your intentions for the benifit of the most with destruction to the least! Liberty Head (03/07/04; 00:15:24MT - usagold.com msg#: 118160) Re: Warren Buffett Doesn't it seem odd that Mr. Buffett pontificates on increased corporate taxes, instead of reduced government spending?Guess what side his bread his buttered on. MmmmGuess whose pies he has his fingers in. MmmmAll right, enough with the corny cliché's.I think he is correct about people's values generally being out of balance these days.The U.S. Constitution used to be widely valued.Gold used to be widely valued.Honesty used to be widely valued.Well, the man in the mirror is the best person I know to start getting value systems back in order.He says, Sell your house, buy gold and move out of the country before the window of opportunity slams shut.He's a pretty gloomy guy these days.Best wishes ViewYesterday's Discussion.
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