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ARCHIVED DISCUSSION FROM 9/9/2006 All times are U.S. Mountain Time (Yesterday's Discussion.) The Invisible Hand (9/9/06; 23:39:35MT - usagold.com msg#: 147335) De Rato in Canadian http://www.globeinvestor.com/servlet/story/GAM.20060909.RIMF09/GIStory/ SNIPSSPRUCE MEADOWS, ALTA. -- The Bank of Canada may have to raise interest rates further -- but modestly -- because of strong domestic growth and inflationary pressures from higher fuel prices, says the head of the International Monetary Fund.+Mr. de Rato said he believes that the global economy is growing strongly and will continue to do so into 2007, but that economic risks have increased since April.==We'll see what "they" will "do" next week-end in Singapore. The Invisible Hand (9/9/06; 22:47:10MT - usagold.com msg#: 147334) IMF's De Rato calls for higher ECB interest rates http://www.spiegel.de/wirtschaft/0,1518,436149,00.html SNIPRato zufolge sollte die Zeit niedriger Zinsen angesichts der guten Weltkonjunktur zu Ende gehen. "Die Notenbanken weltweit tun gut daran, das gute Umfeld für Zinserhöhungen zu nutzen." Das schaffe den erforderlichen Spielraum, um später schlechten Zeiten überhaupt entgegenwirken zu können. "Soweit sich die wirtschaftliche Erholung fortsetzt, muss die EZB von einer eher lockeren Zinspolitik zu einer neutralen kommen, und dies bedeutet Zinserhöhungen." Angesichts der Arbeitskosten und der niedrigen Inflation könne die Zentralbank dabei aber behutsam vorgehen.Der IWF ist eine Sonderorganisation der Vereinten Nationen und gilt als Feuerwehr bei Wirtschafts- und Währungskrisen. Am kommenden Wochenende trifft sich die Organisation zu ihrer Jahrestagung in Singapur. Flatliner (9/9/06; 22:39:07MT - usagold.com msg#: 147333) @a banker Some of the most useful questions... Can you add some more insight into the "A mere tempest in a teacup" statement? Also, is this a first post? Most intriguing, please share. osa104c (9/9/06; 22:12:20MT - usagold.com msg#: 147332) WHAT DAY??? @ TEN BEARSYour post provokes interesting thought(s).........GREED DAY???....no, how about AVARICE DAY ..............the day of inordinate love for riches. Its special malice, broadly speaking, lies in that it makes the getting and keeping of money, possessions, and the like, a purpose in itself to live for. It does not see that these things are valuable only as instruments for the conduct of a rational and harmonious life, due regard being paid of course to the special social condition in which one is placed. It is called a capital vice because it has as its object that for the gaining or holding of which many other sins are committed. It is more to be dreaded in that it often cloaks itself as a virtue (DEMOCRACY), or insinuates itself under the pretext of making a decent provision for the future. In so far as avarice is an incentive to injustice in acquiring and retaining of wealth, it is frequently a grievous sin.GET sum GOLD to spend in the future..........fiat is fleeting...........AMF mikal (9/9/06; 21:30:55MT - usagold.com msg#: 147331) "President's Worklng Group on Financial Markets" back in news http://www.msnbc.msn.com/id/14738551/ Paulson Sizes up Wall Street Disaster Defences | Financial Times - MSNBC.com | David Wighton and Paul Taylor in New York | Sept 9, 2006Short story covers: Paulson, "The Working Group", integrity of markets, utilities and telecommunications, threats such as influenza. Ten Bears (9/9/06; 21:20:14MT - usagold.com msg#: 147330) LABOR DAY? HOW ABOUT GREED DAY? http://www.uexpress.com/richardreeves/?uc_full_date=20060901 O T, a bit late, but the best Labor day commentary this year: from Richard Reeves The Invisible Hand (9/9/06; 19:39:54MT - usagold.com msg#: 147329) Next week-end IMF in Singapore THIS WEEK-END HELSINKI http://news.bbc.co.uk/2/hi/europe/5331520.stmThe European Union and China have agreed to launch talks on a new treaty to cover their growing political and economic ties. The announcement came at a summit in Finland, which currently holds the EU presidency. They also made statements on North Korea and Iran. China and the EU are doing more business together than ever before. http://newsinfo.inq7.net/breakingnews/nation/view_article.php?article_id=20054HELSINKI, Finland -- President Gloria Macapagal-Arroyo [of the Philippines] arrived here Saturday to attend Finland's largest gathering of world leaders and further deepen the 50-year-old bilateral ties with the home country of cellphone maker Nokia as well as forge a historic trade partnership agreement with Japan.http://english.people.com.cn/200609/09/eng20060909_301017.htmlChinese Premier Wen Jiabao left here Saturday morning for a four-nation tour to Finland, the United Kingdom, Germany and Tajikistan. He is paying the visit at the invitation of Finnish Prime Minister Matti Vanhanen, British Prime Minister Tony Blair, German Chancellor Angela Merkel and Tajikistan Prime Minister Akil Akilov. Wen will also attend the 9th China-EU Summit and the 6th Asia-Europe Meeting (ASEM) to be held in Helsinki, capital of Finland, and the 5th Meeting of Prime Ministers of the Member States of the Shanghai Cooperation Organization (SCO) to be held in Tajikistan's capital of Dushanbe==Da world, it is changing! The Invisible Hand (9/9/06; 19:27:02MT - usagold.com msg#: 147328) dollar solar system vs. prosperity of the planet http://today.reuters.com/news/articlenews.aspx?type=politicsNews&storyID=2006-09-08T093519Z_01_SP146836_RTRUKOC_0_US-APEC-PAULSON-DOLLAR.xmlHANOI (Reuters) - U.S. Treasury Secretary HENRY PAULSON said on Friday he supported a STRONG DOLLAR and believed the value of the U.S. currency should be set in open markets.http://observer.guardian.co.uk/business/story/0,,1868625,00.htmlTREASURY WANTS CUT IN SUBSIDIES TO RESTART TRADE TALKS Heather Stewart, economics correspondentSunday September 10, 2006The Observer Ed Balls, the Economic Secretary to the Treasury, urged Brussels yesterday to promise substantial cuts to the EU's £30bn farm subsidy regime in order to kick-start stalled global trade talks.+Federal Reserve chairman Ben Bernanke and former World Bank chief economist Joe Stiglitz have both argued in recent weeks that GLOBALISATION is under threat from protectionist forces. CAP {, Common Agricultural Policy,}. reform is an explosive issue within the EU, with liberalising countries such as Britain and Germany pushing for cuts in farm spending, which accounts for more than 40 per cent of Brussels' budget, while France leads anti-reform countries which have sought to reduce Mandelson's room for manoeuvre. Balls's controversial intervention came as the Chancellor prepares to travel to Singapore for NEXT WEEKEND'S ANNUAL MEETINGS OF THE WORLD BANK AND INTERNATIONAL MONETARY FUND. As chair of the IMF's major decision-making committee, he has invited WTO director-general Pascal Lamy to attend a meeting, in the hope of pushing the issue of global trade up the agenda. Finance and development ministers will also discuss a package of radical IMF reforms.http://asia.news.yahoo.com/060909/afp/060909150812top.htmlEU FINANCE MINISTERS CALL FOR RELAUNCH OF WTO TALKSLikewise, European Central Bank President Jean-Claude Trichet said that the EU's approach was "complimentary" and "certainly not contradictory"."We continue to hope that it would be possible to have the multilateral negotiations take place again at the level of Europe and the world," he said."That would be considered by all central bankers as something of extreme importance," Trichet added.==THE BASIS OF DOLLAR GLOBALISATION lies in the imposition of the HARD-DOLLAR DOCTRINE.This imposition cannot occur without the doctrine of military power and financial-monetary supremacy.Dollar-globalisation does not want to / cannot serve the economic prosperity of this planet because it wants virtual wealth to be consolidated in its dollar as THE reserve currency.Whereas all non-dollar states want to have their currency unit managed as an instrument of economic prosperity, the US of A dollar wants the continued association of wealth with its dollar regime.The dollar doctrine rests on the fiction of the dollar-gold-standard, whereas non-dollar states have prepared their wealth for Freegold and for the managing of their currency unit as an instrument of economic prosperity.All economic theories have been written to please the principals who pay the writers for putting the principals’ self-interest above the global interest. This is no different, in the modern globalising world, for the dollar-regime (dollarisation).Paulson is confirming this in Vietnam. By the same token, Paulson is confirming that other trade blocks have comply with the dollar-solar-system. What a hubris!Contrast this to the humility of the Freegold practitioners who are defining their currency units not like the old dollar-gold-standard as a certain quantity of gold, but who are using gold as a free trading financial reserve so that each increase in the price of gold brings about an increase in the value of their currency reserves and thus an increase in the value of their currency itself. This currency concept is closer to the tenets of the philosophy of TRUTH and FREEDOM than a gold standard because of the exchange restrictions which inevitably follow from the gold standard. http://www.libertarian.to/NewsDta/templates/news1.php?art=art365 The Invisible Hand (9/9/06; 17:33:55MT - usagold.com msg#: 147327) Borrowed and unborrowed visions http://www.europe2020.org/en/section_global/070906.html Goldilox says:The Jesuses, Mohameds, Ghandis, Gutenbergs, Gallileos, Teslas, Reichs, Fitts', McCanneys, Hutchinsons, Rifes, Mahathirs, Zappas, and Naders of the world must all be publicly denigrated and have their message competely obliterated by time to protect the special interests.Neweuropeans says:SNIP"When the grand-sons of Pétain, Hitler, Mussolini, Franco and Stalin will take over the EU". This new scenario is entitled : "USA 2010 – When the Washington Wall falls".+The "Washington Wall" is the Dollar, and the fall of the "Washington Wall" will consist of a serious loss of confidence in the Dollar Boilermaker (9/9/06; 16:00:16MT - usagold.com msg#: 147326) @Moegold, G'Lox http://www.vivo.colostate.edu/hbooks/pathphys/digestion/herbivores/rumen_anat.html Thanks for the response. I agree that Isle of Man and The Channel Islands could be home to a lot of US paper holders. They may have picked up the paper ball handed off by Carib. players. Picture a pasture with a herd of Guernseys quietly devouring US Treasury notes that grow in abundance throughout the field. This fodder passes through the four stomachs possessed by ruminants for digestion and comes out the backend as a foul remnant of its original form. Perhaps a metaphor for the future of the $.snips:Economy of the Isle of ManFrom Wikipedia, the free encyclopediaOffshore banking, manufacturing, and tourism are key sectors of the economy of the Isle of Man. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off in expanding employment opportunities in high-income industries. As a result, agriculture and fishing, once the mainstays of the economy, have declined in their shares of GDP. Banking and other services now contribute the great bulk of GDP. Trade is mostly with the United Kingdom. The Isle of Man has access to European Union markets.The Channel Islands EconomyTourism is the major industry in the smaller islands (with some agriculture). Jersey and Guernsey have, since the 1960s, relied on financial services. Guernsey's horticultural and glasshouse activities have been more significant than in Jersey, and Guernsey has maintained light industry as a higher proportion of its economy than Jersey. Jersey's economy since the 1980s has been substantially more reliant on finance.Both Bailiwicks issue their own banknotes and coins, which circulate freely in all the islands alongside UK coinage and Bank of England and Scottish banknotes. USAGOLD / Centennial Precious Metals, Inc. (9/9/06; 14:03:42MT - usagold.com msg#: 147325) Arguably the most beautiful coin in the world... http://www.usagold.com/gold/special/stgaudens20.html 9/6/06September Buyers' Group$20 St. Gaudens!Call and Save1-800-869-5115 (Ext. 100) mikal (9/9/06; 13:23:46MT - usagold.com msg#: 147324) @Moegold Yes. Makes sense some front companies monetize the debt at these offshore havens. Like money laundering, recycled payoffs, etc. Moegold (9/9/06; 12:05:20MT - usagold.com msg#: 147323) US Paper Holdings @ boilermaker msg#147318The "grand total" row shows generally increasing holdings of US paper, but interestingly the row below labelled "for. official" shows that since Feb 2006 foreign official holdings have been declining. Note also that the UK numbers, the source of the biggest increases in paper, include the Channel Islands and Isle on Man. Is some hedge fund front monitizing the debt? Does this make sense to anyone? Goldilox (9/9/06; 09:34:47MT - usagold.com msg#: 147322) hurricane season is light so far this year ........ @ Comatose,So light, in fact, that NOAA has taken to "naming" 35-40 MPH light gales in order to increase their storm numbers, since their "prediction" is so far off.Methinks they have egg on their faces, as the warm oceans they purport to create 'caines are not following their model at all. Oops!Might the currently quiet solar cycle be a greater storm driver than they care to admit? Goldilox (9/9/06; 09:25:05MT - usagold.com msg#: 147321) US Paper holdings @ Boilermaker,- Japan, holding about 30% of the total, has actually reduced their holdings by $32 billion over the past year. - China has increased their holdings by $30 billion over the past year despite talk of diversification.- The UK has consumed a huge amount of US paper, increasing holdings from $58.8 to $201.4 billion the past year. - Canada and Mexico have both increased their US paper holdings very significantly, $22.8 and $17 billion respectively.- Oil exporters have increased their holdings $33 billion or nearly 50% the past year reflecting high oil prices and revenues.- Notable by its absence from the list is Russia.- Carib. Bnkng. Ctrs have decreased their holdings modestly after huge growth in 2005I always find this table interesting. One wonders if Japan is getting "tapped out"?While China has increased US paper by $30B, does that reflect a percentage increase, as well? i.e. how much has their total reserves increased in the same period?UK major increase is indeed noteworthy - I wonder how and why?Russian absence certainly suggests "independence".Carib. Banks are possibly too busy with PPT duties to earmark more funds to the bond market.I also wonder why Israel, with all their "aid money" is not on this list significantly, i.e. $10B for NOT participating in Iraq II.Just my thoughts. Cometose (9/9/06; 09:11:41MT - usagold.com msg#: 147320) China and the CRB http://www.futuresource.com/charts/charts.jsp?s=CR&o=&a=M&z=610x300&d=medium&b=bar&st=BOLL%2820%2C2%29%3BMACD%2812%2C26%2C9%29%3BRSI%2814%29%3BSTO%2814%2C3%29%3B more Cometose (9/9/06; 09:10:23MT - usagold.com msg#: 147319) taking care of business means taking care of people in a planned economy : the planners are planning 100 years ahead http://www.futuresource.com/charts/charts.jsp?s=CL&o=&a=M&z=610x300&d=medium&b=bar&st=BOLL%2820%2C2%29%3BDMI%2814%2C1%2C1%2C1%29%3BMACD%2812%2C26%2C9%29%3BRSI%2814%29%3B http://www.futuresource.com/charts/charts.jsp?s=CR&o=&a=M&z=610x300&d=medium&b=bar&st=BOLL%2820%2C2%29%3BMACD%2812%2C26%2C9%29%3BRSI%2814%29%3BSTO%2814%2C3%29%3Bhttp://www.futuresource.com/charts/charts.jsp?s=CL&o=&a=M&z=610x300&d=medium&b=bar&st=BOLL%2820%2C2%29%3BDMI%2814%2C1%2C1%2C1%29%3BMACD%2812%2C26%2C9%29%3BRSI%2814%29%3Bhurricane season is light so far this year ........ Boilermaker (9/9/06; 08:49:45MT - usagold.com msg#: 147318) a banker msg#: 147308 http://www.treasury.gov/tic/mfh.txt Thanks for your focus on important Fed Reserves questions. However, when I search for information regarding the foreign currency holdings of the Fed by nationality I can not find any. I only see their most recent total, about $40 billion, at this site http://www.federalreserve.gov/pubs/supplement/2006/08/table3_12.htmPerhaps you could offer your own thoughts on the questions you posed.In any case the foreign currency holdings of the Fed are trivial in relation to the current account imbalance of the US. If we paid for net imports out of this account it would be gone in three weeks. The US gold reserve, booked at $42.22/oz, is shown as an asset worth $11 billion. If this reserve were MTM it would be about $160 billion. Even at the MTM value US gold (if it indeed exists in the form (bars) and in the amount 8000+ tonnes that are claimed) is trivial compared to the $ held by foreign CB's, institutions and individuals.The USTreasury site linked above has some revealing information about foreign holdings of US bills, notes and bonds. Here are some observations of these data:- Japan, holding about 30% of the total, has actually reduced their holdings by $32 billion over the past year. - China has increased their holdings by $30 billion over the past year despite talk of diversification.- The UK has consumed a huge amount of US paper, increasing holdings from $58.8 to $201.4 billion the past year. - Canada and Mexico have both increased their US paper holdings very significantly, $22.8 and $17 billion respectively.- Oil exporters have increased their holdings $33 billion or nearly 50% the past year reflecting high oil prices and revenues.- Notable by its absence from the list is Russia.- Carib. Bnkng. Ctrs have decreased their holdings modestly after huge growth in 2005.The UK is eating US paper at a prodigious rate. I wonder if they will get indigestion. Perhaps some gold is being passed under the table to facilitate their appetite for paper?I would like to hear other thoughts about these data. Goldilox (9/9/06; 07:07:45MT - usagold.com msg#: 147317) Borrowed and unborrowed visions @ TIH,The Pharisees of "today" will always mock their counterparts of "yesterday" that time has exposed as fools and frauds, while continuing their "protect the status quo at all costs"" tactics.The most prominent feature of systems of inequality is self-protective paranoia from any "clear and present" dangers, even if said dangers might provide a path to greater solutions.The Jesuses, Mohameds, Ghandis, Gutenbergs, Gallileos, Teslas, Reichs, Fitts', McCanneys, Hutchinsons, Rifes, Mahathirs, Zappas, and Naders of the world must all be publicly denigrated and have their message competely obliterated by time to protect the special interests."Out of box" thinking is never tolerated beyond cheap commercial messaging. Goldilox (9/9/06; 06:47:46MT - usagold.com msg#: 147316) Gold vs. dollars @ Armageddon,Assuming TPTB are a lot smarter than their public persona, losing $ is much less traumatic than "losing" gold. The former can easily be replaced by Heli-Ben and Co. The burden is borne by the $ itself, while the "gain" is realized by the "off-budget" slush funds that are so useful to the political and economic "hit men".Thus no "official" concern about the $Trillion that Catherine Austin Fitts found "missing" at HUD, except to blackball her for publiicizing the information.Again, pure speculation by a believer in many of the NWO theories.While some might complain that my "speculations" are too radical, I think "what if" is a useful exercise to establish potential connections between "behind the curtain" moves. The Invisible Hand (9/9/06; 06:37:04MT - usagold.com msg#: 147315) The dollar-IFMS is kaput dollar-IFMS = dollar-International Financial and Monetary SystemTHE UNBORROWED VISION OF FREEGOLD THROUGH MTM-ING OF GOLD-RESERVES "Throughout the centuries there were men who took first steps down new roads armed with nothing but their own vision. Their goals differed, but they all had this in common: that the step was first, the road new, the vision unborrowed, and the response they received—hatred. The great creators—the thinkers, the artists, the scientists, the inventors—stood alone against the men of their time. Every great new thought was opposed. Every great new invention was denounced. The first motor was considered foolish. The airplane was considered impossible. The power loom was considered vicious. Anesthesia was considered sinful. But the men of unborrowed vision went ahead. They fought, they suffered and they paid. But they won."Ayn Randhttp://www.nasonart.com/personal/lifelessons/fountainhead.htmlOn Sunday September 26, 1999, 15 European Central Banks concluded the Washington Agreement on the sidelines of an IMF-World Bank meeting. By this Agreement, the politicians wanted to set limits to gold lending. This agreement recognised that gold will remain an important part of global monetary reserves and that the involved central banks will, apart from the sales which have already be decided, not sell gold in the next five years. +The ECB reserves [...] are still being, marked to market on a quarterly basis. The Agreement [... has been] renewed on stricter terms between more than the 15 original parties at the IMF-World Bank meeting in Dubai on September 23-24, 2003. http://www.free-europe.org/blog/english.php?itemid=56Some people have apparently managed to convince some central bankers of their unborrowed vision that gold needs in some way to given back its monetary use, by instituting Freegold and the marking to market of gold reserves,The mark-to-market (MTM)-concept has brought an end to the upward limitations on the price of gold (POG). By the same token it also brought an end to the dollar-International Financial and Monetary System (dollar-IFMS).President Bush's speeches clarify what he (the dollar-IFMS which he represents) wants to achieve with his "crusades". The dollar-globalisers want to stop all opposition to their IFMS through flagrant provocation. The dollar-regime and its petro-dollar fundament need this opposition in order to be able to justify the bloodbaths they are causing.For the moment, the challenger (the dollar) obtains the desired results. No financial-monetary-economic catastrophes are occurring and the price of oil (POO) remains contained. There is a global equilibrium between the challenger and the opposition (the oil and gas cartel). Both are positioning themselves for the final battle which will be the fall or resurrection of Tehran.China, Russia. the Middle East, India and some smaller members of the opposition are precisely those who learnt in Dubai on September 23-24, 2003 about the unborrowed vision of increasing and MTM-ing gold-reserves.If Bush conquers Tehran, then the dollar-IFMS with be able to continue counting on its petro-dollar fundament, but the opposition could decide to deny henceforward its reserve status to the dollar and to switch to gold. http://www.nysun.com/article/39275?access=862532NEW YORK - Benjamin Netanyahu, as part of an American tour repositioning himself for a return to the Israeli premiership, told an audience in New York yesterday that President Bush is preparing to ditch the United Nations to take on Iran alone and that American politicians of all parties would do well to stop squabbling about Iraq and join the president in focusing on threat from TehranThis is the most difficult phase of the War on Terror (WOT), the surpressing of the US opposition. It is no accident that a movie is being made about a Bush-murder.The cold and warm wars about oil and gas are thereby in full swing. But if China and Russia manage to cooperate (within Shanghai Cooperation Organization (SCO)) and do not explicitly follow the path of socialism, the US of A will lose its welfare trump.That's why Rubin invented to strong-dollar-doctrine. This led to delocalisation. At some moment, the doctrine will have to be reversed and the dollar will have to be devalue. The colonisation of trade-relations by the US of A will thereby come to an end and China and Russia will make their respective currencies convertible.By their strong dollar carry trade, the Japanese are loyal to the strong dollar and the accompanying dollar-imposed export enslavement. The Japanese yen is therefore weak and at the same moment, the US of A wants the Chinese to revalue their yuan/remnimbi. This is the contradiction of the dollar-dominance of the dollar-IFMS.Sinclair, GATA and others do not understand that they are teaching the wrong gold-future theory. Yes, the dollar-fiat-digit machine can control and contain the POG forever PROVIDED that the dollar regime and its power structures continue in existence. ENTER FREEGOLD Freegold is the most radical antithesis which the innovators of unborrowed vision have devised to the TOTAL dollar-regime and thus not only to the dollar-currency which is only one aspect of the globalising regime.De dollaristas (including MundellThe Invisible Hand (9/7/06; 20:47:29MT - usagold.com msg#: 147279)Mundell doesn't understand the new gold markethttp://www.imf.org/external/pubs/ft/fandd/2006/09/people.htm) continue to think in terms of the old gold-dollar-standard. The shorting of dollar-gold cannot be cornered as long as the valueless dollar-currency will continue to be used by the dollar-regime.The gradual and orderly POG increase is a result of the dollar regime beginning to admit that it cannot possibly withstand the Freegold pressure forever.As long as gold market observers do not want to realise this, they are misinforming their audience.Why does Nato need more troops in Afghanistan? Is that also Iran-related?(Nato's leaders have urged member countries to provide reinforcements to help in its campaign against Taleban guerrillas in southern Afghanistan http://news.bbc.co.uk/2/hi/south_asia/5322698.stm)This spectator cannot but conclude that the dollar-IFMS is kaput thanks to those people of unborrowed vision who managed to convince some central bankers of Freegold through the MTM-ing of gold-reserves. ViewYesterday's Discussion.
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