Why Bush & Company Are Not Worried About Adding More Debt. -- beesting, 19:18:17 09/15/03 Mon
Answer to above statement:
As the USA slowly gets deeper in debt and as productive type jobs are slowly being lost, causing a loss on taxes paid into "The General Fund" the lender of last resort will eventually become the IMF/World bank.......Especially if the Euro slowly replaces the dollar in international trade.
Look for the above future scenario to happen......Unless Ron Paul gets elected President!
Aren't China and Russia directly threatened by an invasion of Iran? And how much longer can that type of spending increase be sustained? But maybe an invasion of Iran or Saudi Oilabia will be the straw that breaks the dollar's back! After the bombing of Yugoslavia, Afghanistan and Iraq(for years), I wouldn't be surprised to see Iran targeted somehow.
But the UN has made a deadline which means they can bring other nations in to help pay AND fight if Iran won't back down?
[Edit] Having just received a death threat -- PeterA, 22:05:51 09/14/03 Sun
From some contractor supply telemarketer that has been sporadically harrasing us for ten years, I found some cheer in today's WND item below:
@ Rex: I assume if an article has a button to "email to a friend" it can also be posted as they wish it to be passed on.
Ask not what telemarketers can do to you
DAVE BARRY
There's just over a year to go before the 2004 presidential election, and everybody in the nation is extremely excited. Except of course the public. The public, shrewdly, pays no attention to presidential politics until all of the peripheral dorks have been weeded out, and it's finally time to make a selection between the two main dorks left over.
So what does the public care about right now? Telemarketers. The public hates them. It hates them even more than it hates France, low-flow toilets or ''customer service.''
We know this because recently the Federal Trade Commission, implementing the most popular federal concept since the Elvis stamp, created the National Do Not Call Registry. The way it works is, if you are a member of that select group of people (defined as ''people with phones'') who do not wish to receive unsolicited calls from telemarketers, you can go to www.donotcall.gov and register your phone number. Starting Oct. 1, any telemarketer who calls you will be locked in a tiny room with a large, insatiable man who will force the telemarketer, repeatedly, at all hours of the day and night, to change his long-distance provider.
No, sorry, that was the original concept. But the law is pretty strict: For each call to a registered number, telemarketers face an $11,000 fine. This program is a huge hit with the public. Already 30 million American households have registered; this figure would be even higher if it included all the Florida residents who tried to register but accidentally voted for Patrick Buchanan instead.
And how has the telemarketing industry responded to this tidal wave of public hostility? It has issued this statement: ''Gosh, if these people really don't want us to call them, then there's no point in our calling them! We'd only be making them hate us more, and that's just plain stupid! We'll try to come up with a less offensive way to do business.''
No, wait, that's what the telemarketers would say in Bizarro World, where everything is backward, and Superman is bad, and telemarketers contain human DNA. Here on Earth, the telemarketers are claiming they have a constitutional right to call people who do not want to be called. They base this claim on Article VX, Section iii, row 5, seat 2, of the U.S. Constitution, which states: ''If anybody ever invents the telephone, Congress shall pass no law prohibiting salespeople from using it to interrupt dinner.''
Leading the charge for the telemarketing industry is the American Teleservices Association (suggested motto: 'Some Day, We Will Get a Dictionary and Look Up 'Services' ''). This group argues that, if its members are prohibited from calling people who do not want to be called, then two million telemarketers will lose their jobs. Of course, you could use pretty much the same reasoning to argue that laws against mugging cause unemployment among muggers. But that would be unfair. Muggers rarely intrude into your home.
So what's the answer? Is there a constitutional way that we telephone customers can have our peace, without inconveniencing the people whose livelihoods depend on keeping their legal right to inconvenience us? Maybe we could pay the telemarketing industry not to call us, kind of like paying ''protection money'' to organized crime. Or maybe we could actually hire organized crime to explain our position to telemarketing-industry executives, who would then be given a fair opportunity to respond, while the cement was hardening.
I'm just thinking out loud here. I'm sure you have a better idea for how we can resolve our differences with the telemarketing industry. If you do, call me. No, wait, I have a better idea: Call the American Teleservices Association, toll-free, at 1-877-779-3974, and tell them what you think. I'm sure they'd love to hear your constitutionally protected views! Be sure to wipe your mouthpiece afterward.
In closing, here's an:
IMPORTANT REMINDER -- Mark your calendar with a big ''X'' on Sept. 19, which is the second annual National Talk Like A Pirate Day. This is the day when everybody is supposed to talk like a pirate for very solid reasons (see www.talklikeapirate.com).
Last year, the first National Talk Like a Pirate Day was a huge success, as measured by the number of messages on my answering machine consisting entirely of people going ''Arrrrr.'' So if you're feeling depressed -- if you think the world is in terrible shape, and one person like yourself can't make a difference -- remember this: You're right. So you might as well talk like a pirate. It's easy! For example, when you answer the phone, instead of ''Hello,'' you say ''Ahoy!''
Then you hang up. Scurvy telemarrrrrketers!
--------------------------------------------------------------------------------
Read more from Dave Barry
[Edit] Bubba Gump -- volavka, 18:09:53 09/14/03 Sun
Run forest, passing turks & caicos.
The size of this storm will creat more damage and much more inflation.
Gold has built alot of stops down @ 370 so the jelly fish will wash the weak out.
scum floats.
[Edit] Whut's ta come @ OmarD & J.H. Kunstler -- jomama, 14:03:50 09/14/03 Sun
"We've sunk so much of our national wealth
into a particular way of doing things that we're
psychologically compelled to defend it even
if it drives us crazy and kills us."
The "crazy" part is easily seen growing every day
in Amurika.
The "kill" part will probably be the method of
Americanaltionalizing all the oil in the world.
Like the ol' rock and the hard place, but I expect
something to that effect or at least a "valiant"
effort by The Boyz in Charge.
Someone once said something to the effect that:
"He who controls all the world's oil, controls a
world running on empty."
But a world running on oil is just a *symptom* of
a much bigger problem:
Centralization...of everything.
'twill be a rapidly disappearing way of doing things as
the Shit Hits The Fan.
Better to find unorthodox ways of looking at and doing
things.
[Edit] The bogus war on terrorism and pretexts to secure global domination -- Ag_Eagle, 11:45:28 09/14/03 Sun
Michael Meacher, a former British environment minister on 9/11 & the war on terrorism. Meacher, who served as a minister for six years until three months ago, today goes further than any other mainstream British politician in blaming the Iraq war on a US desire for domination of the Gulf and the world. Interesting reading
[Edit] GULF WAR II SYNDROME? -- Ag_Eagle, 11:29:24 09/14/03 Sun
But wait, there's more: Special Forces veteran and brilliant writer Stan Goff describes another one of the lies and victimization of US troops by an insane government that is bent on eating its own. Only someone who is without a conscience could take heart from the fact that as many as 40% of the US troops now serving in Iraq may be condemned to death or permanent disability - without benefits or honor.
[Edit] Iraquagmire -- auspec, 10:37:30 09/14/03 Sun
Inadequate troops, inadequate money, inadequate foresight............all grinding down in the sands of Iraqnam. The UN is being begged to take this mess off our hands but on OUR TERMS....hahaha. No way.
Here's the ultimate drawdown. The US military has been used to take out a global rogue.........who better to perform the task? The US will continue to eat sand and crow up towards next year's prime election season. Ultimately the UN will play a much larger role in "peacekeeping", but ONLY w the spoils of war being 'equitably' distributed amongst those not tied to the US fascelitists {look it up if you doubt me}. Current US policy is totally untenable..........to the point of being hallucinogenic, to borrow a word from Cap'n Bill of Privateer.
The Bush 1 & 2 Legacy........snatching defeat from the jaws of victory unlike no two father son duos in history. Middle East War "victories" don't leave a lasting impression on US populaces. Without a new "crisis" developing to galvanize US knee jerk {not a reference to the Bush team arrogancy {this time}} patriotic support for our {mis} leaders............he's toast. If he wins he'll wish he didn't.
Richebacher says the US monetary system only has 12 to 18 months left before it comes totally unglued. I'm buying Band-Aide stock options in the meantime.
By the way, unlike our residing Pres., I do have a Plan B.
What made so many of us think Gore was the delusional one in 2000? Ed Koch says he sees tremendous leadership from W.........wonder what he's been granted? CFR office? He probably likes the way Bobby Cox manages the Braves come playoff time also.
Questioner.......yep, ER has been down some........seems some authorities didn't like our lil contest. They'll be contacting YOU pretty soon.
Has the forum been down on and off for the last week or so?
[Edit] Britain and US isolated as Iraq angrily buries its dead -- Netking, 02:36:24 09/14/03 Sun
Bitter divisions re-emerged yesterday among the world's five most powerful countries about how soon America is prepared to return power to the Iraqi people.
The US slapped down as unacceptable a French plan to end its occupation within a month, although the US Secretary of State, Colin Powell, talked down the differences after the Geneva meeting of the UN's big five.
The failure to reach agreement on a new Security Council resolution that would pave the way for tens of thousands of international troops to go to Iraq under a UN flag, came as the situation on the ground grew yet more perilous...
...The failure of the occupying forces to bring law and order to the country and the ability of the Iraqi resistance to strike with near-impunity are also galvanising international opinion against America and Britain.
If a new resolution is not agreed during further talks in New York this week, George Bush and Tony Blair can expect a month of public humiliation over the Iraq crisis.
Washington and London had hoped that the meeting of the veto-wielding members of the council would begin to draw the UN into the task of reconstructing Iraq. Instead, it produced a virtual replay of the pre-war rift...
...Mr Bush, however, is unabashed by either criticism from abroad or his tumbling popularity at home. Far from stilling disquiet, his televised address last Sunday saw his approval rates drop from 59 per cent beforehand to 52 per cent afterwards, according to a CNN-Gallup poll.
Six out of 10 Americans believe the administration does not have a coherent plan for Iraq..."
[Snippets copied under 'fair use' from the Independent]
[Edit] NIce overview at GE from Bill Bonner of The Daily Reckoning -- Goldustorm, 21:37:15 09/13/03 Sat
http://www.gold-eagle.com/gold_digest_03/bonner091503.html
The Daily Reckoning PRESENTS:
Investors are up and running...but whither do they go?
Bill Bonner weighs in with his judgment, below.
FLIGHT TO IMBECILITY
Bill Bonner- (Excerpts posted with permission under U.S. Fair Use Laws):
"Just because every fiber of society and government wants bond and housing price inflation to continue without consequence does not mean that this will happen."
- Michael J. Burry
"And there is the spectacle of people mortgaging their houses for more than they are worth; what do we make of that? Who is the greater fool...the borrower, or the lender? It is hard to say; both seem to be headed towards a disaster. Theoretically, the lender is the expert; the borrower is the rube. But, in their flight to mediocrity, mortgage lenders have reached further and further for yield - going after more and more marginal credit risks. Haven't they created a situation in which both sides could be losers?
The lender stands to lose from a boost in inflation rates. Inflation would collapse the value of a fixed-rate mortgage.
But inflation is no sure thing. The homeowner stands to lose, too. Jobs are disappearing. Pay levels are stagnating. Deflation would make it harder for him to make his mortgage payments. And if his house fell in value, maybe he wouldn't want to. An adjustable rate mechanism would protect the lender from inflation...but then again, not if the borrower can't pay. In a real crisis, over-stretched homeowners couldn't continue servicing their mortgages. Already going bankrupt at the highest rates in recent history, millions more could go down if a genuine recession were to begin. Most likely, Fannie Mae, Freddie Mac and other mortgage lenders would soon be insolvent, too."
[Edit] U.S. Senate Subcommittee Holds Hearing on Silver-Based Biocides as an Alternative Treatment for Wood Preservation -- Netking, 21:19:14 09/13/03 Sat
Washington, D.C. - September 12, 2003:
http://www.silverinstitute.org/news/pr12sep03.html
[Edit] Creditworthiness: a high privilage not to be taken for granted, a sacred trust with one's fellows, an honorable contract -- Goldus, 20:23:41 09/13/03 Sat
$87 BILLION
WHY THE COMMOTION?
By: Ed Henry
Ever since President Bush's Sunday night speech where he said: "I will ask Congress for $87 billion to carry out the war on terrorism" the media and news people have been abuzz with questions. Suddenly, there is all sorts of concern over where the money will go, how much is needed for this and that, why it's so much, what will Congress do, will more be needed, and how are we going to pay for all of this?
It's wonderful that the so-called watchdogs are finally taking an interest in government accounts, but why now? The national debt has already gone up $584 billion as of September 5th and there's more than three weeks left in the fiscal year. No one seems too concerned about that, and it's the real deficit because it includes what the government has borrowed/stolen from entitlements like Social Security.
In the last eleven months, did President Bush ask Congress for permission to borrow $426 billion from investors? Why would it suddenly be necessary to do so now?
Is Congress sitting on a batch of money? Is Bush asking for $87 billion of this stash? If so, then why are we running deficits? A deficit is when the government spends more money than it has in tax receipts, its only source of revenue besides borrowing.
The news has it that Congress will approve the $87 billion anyway, but what difference does their approval make? Congress has already proven itself irrelevant on most major issues like war and foreign policy.
Something is very screwy here. All I can do is hypothesize about why there is this sudden interest in $87 billion more to fight terrorism. Has anyone bothered to put together what the war on terrorism has already cost us?
Maybe, after it's so obvious that Bush and his henchmen lied to us about "weapons of mass destruction" day after day for months on end that people simply don't trust him any more. With his approval rating plummeting like an elevator with its wires cut, maybe people are starting to question everything he says. It could be that simplistic.
Perhaps the hubbub about $87 billion more is a deliberate prelude to giving in to the democrats and rescinding the Bush income tax cuts. Failing to get financial help from nations that were opposed to our invasion in the first place, left with our "go it alone" arrogance and having opened up a guerilla battlefield for everyone that hates us, and needing to restore the infrastructure we so thoroughly destroyed in Iraq would certainly make taking back the benefits of a tax cut seem reasonable, would it not? After all, you don't want them coming over here "on our streets" now do you?
If the income tax cuts and restructuring brackets were a "stimulus to the economy," what happens to our hard pressed nation when they are taken away?
No doubt, Bush would like to put the $87 billion on the backs of future generations by borrowing more money, but there are problems there too. The bond market is in trouble that has been described as a "perfect storm" with investors starting to reject treasuries as the safest place for their money and the big mortgage houses like Fannie Mae being overextended in derivatives. The Bush administration is finding it more and more difficult to borrow as much money as they would like.
Just the other day, Wednesday, September 10th, the Treasury put $33 billion worth of 5-year notes on the auction block and only $11.8 billion were sold to investors.
Hey, how long did the borrowholics think this constitutionally provided "emergency" credit card would be unrestricted?
Maybe Bush is asking Congress to include the $87 billion in the 2004 budget where he is already planning a $485 billion deficit. Would this then go in as an increase to the Defense budget, jumping it to almost $500 billion? He would definitely need the approval of Congress to do that.
Worse yet, he could be asking Congress to take this $87 billion out of discretionary spending that has already been decimated this year. Next year, it would mean putting even more of a burden on States and local governments that are already strapped by shortfalls due to his refusal to deliver on social programs like education, health care, housing, and so forth, not to mention what it does to the public.
There are much more heinous possibilities.
Every time the Bush administration and the New World Order find themselves in trouble we are hit with a calamity from left field. And the Bush administration is definitely in trouble today.
The first time it happened was September 11, 2001, and that disaster could hardly have come at a better time for the U.S. government. After years of ripping-off American worker's retirement and health care money, the Social Security "Pay-It-Again Sam" scam was coming unraveled.
You might want to review the archives of some of the news from July, August, and the first ten days of September immediately preceding that attack. And it wasn't the trillions of dollars involved that threatened the Beltways Bandits—it was the potential loss of power.
If the New World Order losses its pawns in elected office, it cannot carry out its plans for an American empire.
The second calamity came in the form of private sector corporations found distorting their profit picture in order to entice investors into buying their stock. Hiding debt in dummy subsidiaries, double bookkeeping, and other accounting tricks were uncovered as the reason millions of investors losing millions of dollars.
When a few economists and commentators began drawing comparisons between Enron, WorldCom, Arthur Andersen, Tyco, and other private sector cheaters and the federal government's own accounting tricks, trust funds, and fraud—we were suddenly faced with the need to "Attack Iraq." Weapons of mass destruction in the hands of Saddam Hussein replaced the search for Osama bin Laden whom we falsely accused of working together.
What's next?
Now that we've squandered the world sympathy we had after 9/11 by conducting an invasion that was absolutely unnecessary and illegal, now that we've alienated "old Europe" the United Nations and the Security Council, now that we are caught in a quagmire of our own making, and now that we are committed to rebuilding the Iraqi and the Afghan infrastructures we so systematically destroyed, what can you expect next?
Add in the "Roadmap to Peace" between Israel and Palestine that has floundered on potholes, barricades, road blocks, and detours, plus our stand against North Korea while we ourselves plan to resume nuclear testing, put nukes in space, and the development of "field nukes" and you've got an American foreign policy that can fairly be described as an arrogant disaster that's driving us into bankruptcy.
It's not pleasant, in fact it's nauseating to imply that our own representative government may have had a hand in 9/11, but before writing the idea off as nonsense you might want to review commentaries like "September 11th And The Bush Administration, compelling evidence for complicity" and Dr. Olmstead's "Autopsy: No Arabs on Flight 77" for starters.
You might also want to review the "Not In Our Name" declaration by people who, before the invasion of Iraq, predicted almost exactly what's happening today.
"Published originally at EtherZone.com : republication allowed with this notice and hyperlink intact."
Ed Henry is the founder of TUFF, the Taxpayers Union, and a regular columnist for Ether Zone.
Ed Henry can be reached at ctzcrank@mindspring.com
http://www.etherzone.com/2003/henr091203.shtml
[Edit] "American Dream" - just that, a "Dream" -- OmarD, 20:09:14 09/13/03 Sat
Two posts in a day...have not done that in a while...must be euphoria from successful early morning "slug" hunt.
7th grade daughter tasked in sciene class to bring in a "Bananna Slug" to class on coming Monday.
Finding one of these PNW "natives" not an easy task as dry as it has been out here this year. But very early morning "deep woods search" resulted in the "bagging" of not just one, but two! Bet BB would be green with envy if he only knew.
"...Have any reporters noticed how we actually live here in America? With very few exceptions, our cities are hollowed out ruins. Our towns have committed ritualized suicide in thrall to the WalMart God. Most Americans live in suburban habitats that are isolating, disaggregated, and neurologically punishing, and from which every last human quality unrelated to shopping convenience and personal hygiene has been expunged. We live in places where virtually no activity or service can be accessed without driving a car, and the (usually solo) journey past horrifying vistas of on-ramps and off-ramps offers no chance of a social encounter along the way. Our suburban environments have by definition destroyed the transition between the urban habitat and the rural hinterlands. In other words, we can't walk out of town into the countryside anywhere. Our "homes," as we have taken to calling mere mass-produced vinyl boxes at the prompting of the realtors, exist in settings leached of meaningful public space or connection to civic amenity, with all activity focused inward to the canned entertainments piped into giant receivers -- where the children especially sprawl in masturbatory trances, fondling joysticks and keyboards, engorged on cheez doodles and taco chips..."
We've sunk so much of our national wealth
into a particular way of doing things that we're
psychologically compelled to defend it even
if it drives us crazy and kills us.
"...we are headed into a social and economic maelstrom so severe, as the people on this earth contest over the remaining oil and gas supplies, that everything about contemporary life in America will have to be rearranged, reorganized, reformed, and re-scaled. The infrastructure of suburbia just won't work without utterly dependable supplies of reliably cheap oil and natural gas. No combination of alternative fuels or energy systems will permit us to run what we are currently running, or even close to it. The vaunted hydrogen economy is, at this stage, a complete fantasy, and at the very least there is going to be an interlude of severe disorder and economic discontinuity between the unwinding of the cheap oil age and anything that might plausibly follow it.
We will be driving a lot less than we do now and cars will generally be a diminished presence in our lives. The automakers and the oil companies can lobby all they like, but history has a velocity of its own, and it is taking us into uncharted territory where the GM Yukons and Ford Excursions will be useless. When the suburbs tank, they will go down hard and fast. The loss of hallucinated wealth is going to shock us to our socks, and the fight over the table scraps of the 20th century is liable to entail a lot of political mischief here in the USA.
The physical arrangements for daily living will have to be revised and re-ordered accordingly. We're going to have to return to traditional human habitats: towns, villages, cities, and agricultural landscapes. We will have to walk out of necessity, or at least ride some places with other people. We may be too busy to indulge in the blandishments of television and the other entertainment narcotics we've become addicted to, and even the Internet may be made irrelevant in a world of regular brownouts. We may have to grow more of our food closer to home and do some of the physical work ourselves. As far as I know, there is no such thing as a Cheez Doodle bush. We are going to be living a lot more locally and thrown on our own resources.
We're going to have to do this whether we like it or not, because circumstances will compel us to. There may be a lot of hardship and difficulty, but in the process we are going to get some things back that we threw away in our foolish attempt to become a drive-in civilization. And most of these things we get back will have to do with living on more intimate terms with other people, getting more regular exercise, eating better food, leading more purposeful lives, and rediscovering the public realm that is the dwelling place of our collective spirit. Paradoxically, when that happens fewer of us will need Prozac or the Atkins diet..."
Rgds,
OmarD
"Until government administrators can so identify the interests of government with those of the people and refrain from defrauding the masses through the device of currency depreciation for the sake of remaining in office, the wiser ones will prefer to keep as much of their wealth in the most stable and marketable forms possible - forms which only the precious metals provide." - Elgin Groseclose
[Edit] Comedy Central {Banks}! Chronicles -- auspec, 19:37:15 09/13/03 Sat
Out of a MIDAS early this week:
"John B {Brimlow} also sent me the following from one of his sources:"
"Sounds like the central banks are now getting desperate. The reason the market sold off over night was because the Central Bank of Eritrea, Africa sent out faxes to the world advising they wish to sell their entire gold reserves. They contacted non-gold market participants. Market has bounced when the world realized they only have 200,000 oz."
Comment: That barrel still have a bottom? There are probably "boatloads" of silver in Eritrea as well..........snicker.
[Edit] Maybe Weiss has His Price..............? -- auspec, 19:30:57 09/13/03 Sat
Victor Flores............long associated w Weiss & HSBC has called in the past for sub $200 POG and claimed to know about boatloads of silver in Dubai or wherever available to suppress the POS.
Me........? I don't trust either of em. The Weiss effect is a band-aide at most.
beesting...........glad it arrived!
I have heard from 3 different credible sources that resource money is sloshing all over New York looking for quality projects. Their money would have gone a lot further a couple years ago, but they're most welcome now anyway. This market will rip and roar once more. Shouldn't be long now.
[Edit] One Ounce .999 Silver Beauty Recieved! -- beesting, 09:01:28 09/13/03 Sat
Rusty, REX, ThaiGold, Bounxai, & Raindog, I'm not too good at writing "Thank You" notes, but you're generosity of the SILVER COIN gift is greatly appreciated and will be kept as a family heir-loom......
Now I'm forced to write a legal last "Will & Testament".
Hoping to live a lot longer to enjoy this new Silver "Lucky" piece..........beesting.
P.S. Also experienced E.R. access problems, this last week.
[Edit] PS: Link to earlier Post -- OmarD, 07:14:57 09/13/03 Sat
Arundhati Roy
Wednesday April 2, 2003
The Guardian
[Edit] Arundhati Roy -- OmarD, 07:09:45 09/13/03 Sat
Assallam allaykum to all...
Have not kept up with the "latest" posting rules, so please forgive if any broken...
Some how missed this dated article...Maybe Netking caught it and posted...if so I missed it. Just found, and feel need to share with those here who "understand" - for those that don't...please ignor.
From
Arundhati Roy
Wednesday April 2, 2003
The Guardian
(snips)
"...On the steel torsos of their missiles, adolescent American soldiers scrawl colourful messages in childish handwriting: For Saddam, from the Fat Boy Posse. A building goes down. A marketplace. A home. A girl who loves a boy. A child who only ever wanted to play with his older brother's marbles..."
"...Operation Iraqi Freedom? I don't think so. It's more like Operation Let's Run a Race, but First Let Me Break Your Knees..."
"...When the Arab TV station al-Jazeera shows civilian casualties it's denounced as "emotive" Arab propaganda aimed at orchestrating hostility towards the "Allies", as though Iraqis are dying only in order to make the "Allies" look bad. Even French television has come in for some stick for similar reasons. But the awed, breathless footage of aircraft carriers, stealth bombers and cruise missiles arcing across the desert sky on American and British TV is described as the "terrible beauty" of war..."
"...Despite the pall of gloom that hangs over us today, I'd like to file a cautious plea for hope: in times of war, one wants one's weakest enemy at the helm of his forces. And President George W Bush is certainly that. Any other even averagely intelligent US president would have probably done the very same things, but would have managed to smoke-up the glass and confuse the opposition. Perhaps even carry the UN with him. Bush's tactless imprudence and his brazen belief that he can run the world with his riot squad, has done the opposite. He has achieved what writers, activists and scholars have striven to achieve for decades. He has exposed the ducts. He has placed on full public view the working parts, the nuts and bolts of the apocalyptic apparatus of the American empire..."
Wa Salaam,
OmarD
Gold Plug: "Those entrapped by the herd instinct are drowned in the deluges of history. But there are always the few who observe, reason, and take precautions, and thus escape the flood. For these few gold has been the asset of last resort." - Antony C. Sutton
[Edit] little guys/gals -- volavka, 14:32:04 09/12/03 Fri
If holding tide from .15 take 1/2 off now.
cypt hold
amep hold
magr hold long term
frcd hold
fwgo hold
frlk hold
dfct hold
watch almi, tglef,erhc, fasc
Tightening the Noose By Theodore Butler
http://www.investmentrarities.com/weeklycommentary.html
[Edit] “The Market” -- Flinter, 09:26:50 09/12/03 Fri
I have to chuckle at the PM traders (& savers & LT investors...for that matter). Take Sinclair for instance. Trying to win the paper game. Brilliant folks, they are. Much smarter than I. The difference is one of perspective, any view from within the matrix will be skewed by that location. Ya gotta be outside, and when you think you are “outside”...think again.
So, I believe, it is all illusion, at this point. Has been for awhile. OK, for every seller in the futures market there must be a buyer. But, what if they are the same entity? Different aliases, perhaps, but the same. And what if they have unlimited FRN’s? So alias A sells to Alias B of the same entity...at a lower than “market price”...what happens to the posted price?
Come to think of it, they don’t even need unlimited FRN’s...do they? It all nets out.
(I'm sure "they" have even better games...being so smart and all.)
Ditto with stocks and mutual funds...etc.
How are you going to “burn those shorts”?
When you control the program, this process can be automated at certain entry points and all will look “normal”. Visualize a computer program with a nice user interface (at the fed perhaps, but also “elsewhere”) that says “gold” at the top and you take the mouse and pull the little elevator down to the price you want.
Easy as pie.
So, you “understand” the matrix and are agoing to use that understanding to beat “them”...eh?
Think again.
Draw all the charts you want, Sinclair. Use that brilliance.
Keeps you out of trouble.
You are in the matrix as much as “joe” is.
It’s unfortunate, that we can understand the matrix and not just ignore it, but it is true. The matrix is not “reality”, but the people it conrols and the resources they manipulate through those people ARE. So, we co-exist with it. But beware your perspective.
[Edit] China's Money Supply Soars by 21.6% in August -- Netking, 03:16:39 09/12/03 Fri
Again WHY the PRC will not follow the US prompting per changes to the Yuan exchange rate pricing but rather is moving to "maintain consistency".
More here:
http://english.peopledaily.com.cn/200309/12/eng20030912_124176.shtml
http://english.peopledaily.com.cn/200309/11/eng20030911_124133.shtml
http://www.pbc.gov.cn/english/
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Larry - Good comments, over time something will burst if the pressure is allowed to maintain on a firming POS. We have said all along though that when Ag "moves" the path it follows will be anything but one of order yes, it can not and will not be a peaceful ascent!
FYI, there is a post on GE at 16:48 today on silver. Poster mentions that a PM trader friend of his believes that John Henry, "legendary Soybean Investor and Trend Trader Extraordinaire- also owner of the Red Sox- is accumulating and behind this move." Silver that is. Texas tea, movie stars?
Seriously, a limit down day on the dollar and some Ag limit up days on the Comex PreMarket could happen at any time, IMO. That is, if the COMEX stays open or resumes trading!
[Edit] Test Post.. Netscape Again.. -- Rex, 20:38:09 09/11/03 Thu
This is another test-post.
Using Netscape, with Javasript "off"..
FYI: @ALL..
I checked the Voy.com "status (news) page. They are
currently trying to resolve some "slowness problems".
They revised their forum software version in mid-July, and
since that time I've noticed some problems in posting.
You may recall, around August 31, it was interfering with
the cutoff-date of our Contest.
The problem still persists, I think. At the time, I noted
that if "Javascript" option (in your browser) is disabled
("off") it posts okay and avoids the unable-to-post glitch.
The reason (imho) it's so random is that only certain of
their advertisements invoke Javascript. Those are the culprits.
And since their ads "rotate" (different ads at different times),
the problem appears to be random.
My advice (as always) is turn "off" your Javascript for many
reasons. It avoids all Pop-Up ads, is one great benefit; is
more secure for your computer; and avoids glitches from code
errors in the Javascript source.
Javascript is always very problematic, because the "standard"
has been so badly corrupted by various companies that wish
to eliminate it from competition. (Not mentioning any names),
but it's a political issue and is not getting any better.
Javascript is a means to surreptuously "run" mini-programs
in a browser's visit to many websites. Do you need that?
Usually not. It's best to leave it off, unless you need it
for a specific, trusted, site that requires it to perform
some unique function. Such as most online brokers, banks, etc.
End of Test
..Rex
[Edit] Test Post.. Netscape.. -- Rex, 20:19:09 09/11/03 Thu
This is only a test-post.
Using Netscape. Javascript "on"..
[Edit] @Net king -- Galearis, 18:43:45 09/11/03 Thu
Hi Murray,
I think you are right about silver behavior, Murray. But given that silver is matching gold moves lately - actually out performing it - almost suggests that the same hungry entity with deep pockets for gold also has a taste for silver. However, I am a little perplexed about the present lease activity; that's a lot of jump in the long (risky for the lender) months. Who but the Chinese would not care enough to do such a thing...
It also serves to remind that silver has been real money historically a LOT longer than gold. We have always seen an echo of this in the daily spot markets.
Yes, I think those dollar up days will have to await the fall of paper.....And I think this will go on a lot longer than we all think.
Regards,
G.
[Edit] no inflation here -- volavka, 18:08:54 09/11/03 Thu
Beans cotton fedder cattle, I'd say all 3 are essential to someones life.
...no, don't perceive a breakout as such, wrong volume and price action & L/Rates for that scenario, still we'll take a further firming of price, can't hurt the Ag stocks either[smile].
@Auspec- Re: Problems posting. Yes, same here, and often I had no access to read. Today no problems.
@HBM- I agree, bond traders must be doing a double take. This silver trader is doing a double take these last few days. Martin Armstrong and others may know of lots of black silver, European hordes and estate silver, but I'm tempted to bet this won't come onto the market at anywhere near today's price. In fact, as Butler and others have shown, limit up orders should be expected to appear in the COMEX PreMarket soon. Maybe a limit down day on the dollar soon too, yes? Intervention failing, will not be seen until paper(derivatives)actually fail.
[Edit] New Virus -- All Seeing Eye, 15:49:27 09/11/03 Thu
New virus WTC SURVIVOR. If received, delete immediately. It will destroy your "C" drive.
It comes as an email as the sender:
From: A WTC Survivor.
nothing is for certain,on cypt it is unusual for a stock especially a otcbb to run strong without retracement.
D.D; potential here runs from 6.00 to 25.00 to 100.00 if the tech idiots ramp it.
[Edit] German Min of Finance Hans Eichel spoke about Gold -- Wolfgang, 12:38:52 09/11/03 Thu
The fact, that Eichel mentioned gold ahead of the IMF meeting ( new gold agreement)was IMO curious. Interestingly his statement was not released in any newspaper or media here at home in Germany. He said, that gold would only be sold in small amounts of the BuBa. Here it comes to mind that there shoul not much Buba gold left anymore, probably because it was leased out or available only in paper claims for a future delivery. The german public seemingly shall not at all take notice on the issue GOLD or be able to discuss about it. Very suspicious ! The small amounts to be sold in the market can only mean the commemorative programs of coinage in the coming years. It shall testify that the Buba has GOLD at all. The first coin struck this year will be dedicated to the historic city of Quedlinburg, the following next year,to the city of Weimar ( birthplace of Goethe). I have ordered these beautiful half ounce 999 coins, . The last coin issued, was a 1 oz 200 € face value commem. remembering the introduction of the Euro, limited to 100.000 pieces. Oversubscribed 250 times. I was allotted with one and sold it on auction for over 1000 € to a collector. I simply couldn`t resist the price ! 200 € was the highest face value ever minted, much more than the well known Philharmonic of 2000 Austrian Schilling ( equals to only $ 130 but still high face too )
I love collecting gold and silver coins and bars and I`m not hesitating to hand in the seller on the counter the fiat Euro, which I earned hard, to get something real and beautiful with real value. As long as buying is possible in anonymity, I keep buying. The proceeds of the gold stocks I made so far are locked in the real thing. I did rent a second vault meanwhile and wait calmly for the fully paid growing gold and silver treasure to increase in value.
Presumably I`m not a normal german.
[Edit] volavka -- number six, 12:28:52 09/11/03 Thu
Thanks for the information on those amep guys... very interesting. I kinda wish i'd paid more attention when you started mentioning CYPT... they're only up about 10x since then!! HOw sure are you about this buyout business...what might you know, & how,.. if you don't mind me asking. :) I might get some before the close.
Fed gov. Wayne Angell [sp?] " our fiat monetary system is broken " he
didn't go so far as to call/recall the gold standard, but he did say
that all fiat should be tied to something. I seem to RECALL that
long, long ago, it was!
Anyway, on to the subject.
What does it cost to run the US of A federal government? Why, nothing
of course. So, you ask, why do I have to pay taxes? Good question,
there is no reason, except greedy politicians keeping you under their
boot heel.
Cost of the Fed.
$2,700,000,000,000.00 give or take a few copper [ used to actually be
copper ] pieces.
Here is where it gets interesting. What does it cost to print a $100
bill? Most people would mistakenly say about 2 cents, I contend that
it costs nothing. Let's do the math.
Assuming the false 2 cent fabrication. $2,700,000,000,000.00 is how
many $100 bills? Simple enough, lop off a couple of zeros. Now we
need 27,000,000,000 $100 bills to pay for the entire Federal
government spending. Each costs [ not really ] 2 cents. So we
multiply 27,000,000,000 times .02. Simple enough, lop off a couple
more zeros and double it. 270,000,000 times 2 = $540,000,000. But,
hell, why stop here, I said it costs nothing, not even that measly
$540 billion. How can we pay for that $540 billion in printing costs?
I have an idea, lets print the money, cool! Repeat the process.
Assuming the false 2 cent fabrication. $540,000,000.00 is how many
$100 bills? 5,400,000. At 2 cents each = $108,000. Hold on now this
was supposed to cost nothing. Yes, yes, of course, we must pay for
that pesky 108k.
Simple enough 108,000 turns out to be 1,800 $100 bills times the .02
works out to be $36, still not zero, but Sir Uncle Al, in all his
wisdom says, hey, just print 200,000 of those $100 on that last run,
instead of the 1,800 and we will be running a surplus.
Fed math 101.
Have a great day.
Hawk
[Edit] Comedy Central {Banks}! Chronicles -- auspec, 20:26:04 09/10/03 Wed
From 2night's MIDAS w permission:
John B {John Brimlow} also sent me {MIDAS} the following from one of his sources:
Sounds like the central banks are now getting desperate. The reason the market sold off over night was because the Central Bank of Eritrea, Africa sent out faxes to the world advising they wish to sell their entire gold reserves. They contacted non-gold market participants. Market has bounced when the world realized they only have 200,000 oz.
We have seen good gold sales from non-WAG countries.
The central banks are going to get the gold market very wrong.
-END-
{MIDAS} The Gold Cartel must be getting really desperate to be making phone calls to Eritrea!
Auspec Comments: We're scraping the bottom of the barrel here, folks.............Eritrea is BARELY even on the map. These clowns haven't been strategizing very well, but what else is new?
Steady as she goes...............MUCH higher.
I'm waiting for my Mother-in-Law to call me about buying gold before I start taking profits. It never fails.
P.S. Posting at ER has been extremely difficult for nearly a week!
[Edit] Comedy Central {Banks}! Chronicles -- auspec, 20:22:46 09/10/03 Wed
From 2night's MIDAS w permission:
John B {John Brimlow} also sent me {MIDAS} the following from one of his sources:
Sounds like the central banks are now getting desperate. The reason the market sold off over night was because the Central Bank of Eritrea, Africa sent out faxes to the world advising they wish to sell their entire gold reserves. They contacted non-gold market participants. Market has bounced when the world realized they only have 200,000 oz.
We have seen good gold sales from non-WAG countries.
The central banks are going to get the gold market very wrong.
-END-
{MIDAS} The Gold Cartel must be getting really desperate to be making phone calls to Eritrea!
Auspec Comments: We're scraping the bottom of the barrel here, folks.............Eritrea is BARELY even on the map. These clowns haven't been strategizing very well, but what else is new?
Steady as she goes...............MUCH higher.
I'm waiting for my Mother-in-Law to call me about buying gold before I start taking profits. It never fails.
P.S. Posting at ER has been extremely difficult for nearly a week!
[Edit] here we go again -- qwerty, 19:10:39 09/10/03 Wed
============
Wed 4:28pm ET - Reuters
Stocks sank on Wednesday as what was said to be new footage of al Qaeda leader Osama bin Laden rattled investors a day before the second anniversary of the Sept. 11 attacks on the United States
=============
tape probably made at CIA headquarters in US ... probably using people with work visas too
then sent to Al "the disinfo news" Jazeera for distribution
and then Reuters ... another disinfo news agency ... reports the tape
[Edit] oops, he slipped off the helicopter -- qwerty, 14:26:26 09/10/03 Wed
from calandra ...
===
"We all have to live with the excesses of the past, like Bre-X," Wayne Murdy, chief executive of Newmont Mining, recently told me. He was referring to the mid-1990s wool that Bre-X Minerals pulled over the world's eyes, a hoax so overreaching that few fled the company's $200-plus shares until the miner's chief geologist flung himself from a helicopter into the rain forest of Borneo.
===
Bre-X was just another financial covert operation from within the cabal ... US, Canadian and Philippines officials were involved in that one ... Barrick also played key roles and we all know the slime that inhabits their boards
they probably cleaned up going short the gold shares at that time ... probably got out of Bre-X near high price to
the chief geologist likely had to be murdered to clean up the crime trail
when wayne murdy accidently flungs himself out a helicopter, we can talk about the "accident" or "suicide"
[Edit] Something big in making -- volavka, 13:24:56 09/10/03 Wed
Don't expect any change soon, Treasury Secretary John Snow left China without gaining any firm commitments on the currency front, nor will he. It was only a year back the PRC were concerned about capital flight from the country to safer havens overseas. But now, the Chinese government is more concerned about "hot money", that is cash that moves easily and quickly across borders, fueling speculative booms on the way. Officials and economists alike say around $20-$30 billion has poured into the PRC in the last 6 months alone, that is in addition to the $30 billion of official foreign investment. Whilst U.S. manufacturers, say the Chinese currency is undervalued by as much as 40 percent. . . . . and despite the rhetoric that "some day" they will have a floating currency, do not expect changes that will pass control outside the halls of the Peoples Bank Of China, anytime soon anyway.
Okay so we all know that the federal Income tax is a fraud, bush has no jobs and china won't float.
So what can u expect?
Expect the new rainbow to shine on gold because the 2 tier dollar is coming home.
Offshore old will be taxed upon entry.
Bush will scrap the federal tax system .
Enron will prove something must be done now not later.
Gold wins all around.
[Edit] Gross National Deficit Update -- HBM, 08:25:30 09/10/03 Wed
The Gross deficit for the first eleven months combined, logged in at $561.8 Billion. My projection of a gross deficit of at least $700 Billion for the current fiscal year ending 09-30-03 is lagging behind schedule. A deficit of approximately $138 billion in the final month of the fiscal year will bring the gross deficit to $700 Billion. Stranger things have happened this year.
The highest single month gross deficit (Approximately $112 Billion) occurred during the month of June. Of course that figure as with all the others are manipulated and smoked away temporarily; however the ongoing to-date figures take on real significance even with the continual massages.
I would like to refer to a previous link provided by Goldustorm (see post @ Goldustorm, 20:05:55 08/28/03 Thu:
http://www.etherzone.com/2003/henr082803.shtml
The article in the link was written by Ed Henry. I have extracted the following from the article:
”On July 31st, the U.S. Treasury put (tendered) $44.9 billion worth of 2-year notes on the "auction" block at an annual interest rate of 1.5 percent and only $25 billion were sold (accepted). The Federal Reserve picked up another $4.9 billion of these notes for a total of $29.9 billion sold. That's two-thirds the offering.
“On August 15th, the Treasury put $44.7 billion worth of 5-year notes on the block at 3.25 percent interest and only $18 billion were sold. The Federal Reserve picked up an additional $3.4 billion worthof these notes. That's less than half the offering.
“Also on August 15th, the Treasury put $35.7 billion worth of 10-year notes on the block at 4.25 percent annual interest and only $18 billion were sold. Here, the fed picked up $2.5 billion more…
“The Federal Reserve's role in picking up securities that do not sell to investors at auction, and holding those which do not then sell through the fed's ten subsidiary banks, also raises many questions about fiat money, devaluation of the dollar, and inflation when the big utilities and others following this action raise their prices accordingly.
“I suppose we should be thankful that, as they have in the past, the Federal Reserve isn't picking up all of the securities that don't sell to investors. It's bad enough that the fed currently holds more than 17 percent of the national debt.”
End of excerpt
HBM comment:
By my calculations based upon the above, the Fed’s subsidiary banks are holding in inventory $89.2 Billion in Treasuries from the above three auctions alone. Had the public been willing to purchase these securities the current fiscal year deficit would be $89.2 Billion higher.
Until reading this article I was unaware of this particular sleight of hand by the Treasury and the Fed. I am still not sure that I understand what is happening here.
Is the Fed simply holding these Treasuries as reserves (assets) and issuing Federal Reserve Notes for the Treasury to spend even though the securities were not really sold? If so does that mean that whatever amount of this type of inventory builds up in the subsidiary banks will eventually come home to roost? Does any interest accrue on these securities and if so, who to? Is it possible that the Fed subsidiaries eventually sell these in exchange for surplus social security and other trust funds when those surpluses come on line in the future? Or am I completely misunderstanding what Mr. Henry is saying.
Is Mr. Henry wrong about what he has presented in this article? If Mr. Henry is right and I understand what he is saying then what we have here is an apparent maneuver to avoid the monetization of these securities. If that is the case, clearly the day of reckoning is nigh.
If this truly is a delaying tactic to avoid monetization, we can be sure that it does not go unnoticed by the bond buyers and traders. Darkness is on the face of the deep.
number six or someone asked about amep:
The product that AMEP is using has been tested and is being currently
used by major foreign oil interests. In Brasil, it is injected into deep
wells and thins the oil so that it can be pumped at 3000 bbls per day vs.
the 1000 that comes out without treatment. It's infused into the
pipeline that goes over the Andes so that the oil will flow faster and it
has an uncanny ability to completely dissolve asphaltine and
paraffin...in very small concentrations when forced into stripper wells
along with formation water. It's my belief that this is being done by
AMEP now and....usually, results are immediate (2-3 days) unless there
are "technical" problems with the pumps etc. We've seen 1-2 bbl a day
wells begin pumping 10-15 bbls over very long periods. The product was
developed over 100 years ago but never put into use for the oil industry.
Unlike other additives, this material is totally plant based.
HiHat: if u are around: cypt from .12 to 12.00.
hope you'vr got 5/10 million shares. Worth the ride.
The business section of Sunday's New York Times has
taken note of the stirrings in the gold equities
markets with a report titled "From Canada, New Roads
to Gold." The Times report is appended here.
It may be hard to understand how the analyst from
CIBC World Markets in Toronto who is quoted here can
dismiss Minefinders and Wheaton River as
"underperformers" when their share prices are up
about 82 and 180 percent, respectively, over the last
year, but then you can't believe everything you read
in newspapers, including even The New York Times.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
From Canada, New Roads to Gold
By Bernard Simon
The New York Times
Sunday, September 7, 2003
TORONTO -- Sensing a renewed appetite among Americans,
a small army of foreigners is invading the United States with
new kinds of gold investments.
Ten small and midsized Canadian gold producers have been
listed on the American Stock Exchange in the last year. The
World Gold Council, a promotional group based in London,
is awaiting approval from the Securities and Exchange
Commission for a new exchange-traded fund backed by
gold bullion. A similar fund was set up this summer on the
Toronto Stock Exchange by a Canadian group with
significant participation from American investors.
"When gold gets moving, there's nothing like it," said Ilja
Graulich, general manager for investor relations at Durban
Roodepoort Deep, a South African gold producer that
also has interests in Australia and Papua New Guinea
and is listed on the Nasdaq. "It's very easy to get hold
of money at the moment," he said.
Gold is a part of many investors' portfolios, whether in
the form of bullion, coins or shares of the companies
that produce it. While the price of gold occasionally
bursts higher on fear of runaway inflation, political
instability or turbulence in financial markets, it has
yet to come close to its peak, in January 1980, when
it reached $850 an ounce. Gold investments were a big
disappointment for much of the 1980's and 90's.
Investors in gold and the mines that produce it have
done well in the last year. The metal was trading at
$377 an ounce on Friday, about 18 percent higher than
its 2002 average of $309. It briefly topped $380 this year,
before the war in Iraq began.
The Amex's Gold BUGS index has soared 86 percent
from its 52-week low, reached in October. (BUGS stands
for basket of unhedged gold stocks.) The Philadelphia
Stock Exchange Gold and Silver index, which includes
some companies that hedge part of their output, has
chalked up more modest gains, rising 17 percent so
far this year.
American gold funds are reporting substantial inflows.
"We're having our best year in quite some time," said
Joe Foster, who manages the Van Eck International
Investors Gold fund. The fund's assets have grown by
60 percent so far this year, to $250 million, with inflows
from investors accounting for about three-quarters of the
increase.
John C. Hathaway, manager of the Tocqueville Gold
fund, said that the fund's asset value had grown more
than 50 percent in the last year, to about $293 million.
The rising prices of its holdings accounted for less than
one-fifth of the increase, Mr. Hathaway said, with inflows
making up the rest.
Big gold producers like Newmont Mining of Denver,
AngloGold of South Africa and Barrick Gold and
Placer Dome of Canada, have traded on the New York
Stock Exchange for years. The 10 Canadian companies
that have been listed on the Amex in the past year
include the Iamgold Corporation, Northgate Exploration,
Wheaton River Minerals, Minefinders Corp., Eldorado
Gold Corp., Miramar Mining Corp., and Great Basin
Gold. The most recent was Gammon Lake Resources
of Nova Scotia, listed on Aug. 29.
"We're hearing from the companies that now is the
time when they can use the increase in the gold price
to gain access to the United States capital markets,"
said John McGonegal, vice president for equity sales
at the Amex.
The exchange has assigned one of its sales
representatives to Canada virtually full time to attract
listings and is sponsoring two conferences on gold this
year. Officials of International Investment Conferences
of Miami, which is organizing the events, said 252
analysts and fund managers had registered for one of
them, to be held this week in New York, roughly double
the number last year. About 3,000 individual investors
are also expected to attend, a fifth more than last year.
Jon A. Douglas, the chief financial officer at Northgate
Exploration, says that overall trading volumes in the
company's stock, which was already listed in Toronto,
have more than doubled since it was listed on the Amex
on July 11. Trading on the Amex has accounted for 31
percent of Northgate's daily volume.
Barry Cooper, a metals analyst at CIBC World Markets
in Toronto, wrote in a recent report that the stocks of
smaller gold producers had become more attractive partly
because of the weak financial performance of some
large producers, despite higher gold prices. Mr. Cooper
singled out Eldorado Gold and Cambior, which also trade
on the Amex. On the other hand, he called Minefinders
and Wheaton River "underperformers."
Mr. Hathaway, the fund manager, said, "People didn't
know about a lot of those stocks a year ago; now they
do know them."
Still, Barry J. Landen, vice president for corporate affairs
at Agnico-Eagle Mines, a Canadian gold company listed
on the New York Stock Exchange, said that while investor
interest was high, most of it was coming from familiar
faces. "We want to see some new faces," Mr. Landen
said.
In another move to expand choices for investors, the
World Gold Council applied to the S.E.C. in May for
approval to list its Equity Gold Trust, an exchange-traded
fund, on the New York Stock Exchange. Richard Simonelli,
a spokesman for the council, said, "Hopefully, sometime in
the fall, we'll have a better understanding on the timing of
the rollout."
A similar exchange-traded vehicle, Central Gold Trust,
listed on the Toronto exchange through a public offering in
July. The trust's president, Stefan Spicer, said that the 207
gold bars backing the trust were stored in the vaults of the
Canadian Imperial Bank of Commerce, and were not
pledged as collateral on any loans. The trust has also said
it will buy more gold whenever it issues new units so as not
to dilute existing shareholders' interests.
Mr. Spicer said investors outside Canada had bought about
20 percent of the units. "The amount of interest in the United
States has been very significant," he said. The trust's units
are trading at about 23 Canadian dollars ($16.79), compared
with the issue price of 20 Canadian dollars.
Of course, the performance of all these investments ultimately
depends on the price of gold.
The current popularity of gold has stoked the exuberance of
gold fund managers, newsletter publishers and others. Mr.
Hathaway concluded in a recent article that "neither the stock
or bond market is capable of delivering anything close to the
returns of the last 20 years."
"Once investors 'get real,' " he added, "they will migrate from
paper to tangible assets."
Not everyone shares such enthusiasm. Observing that the
gold market has its share of eccentrics, who tend to interpret
a small rise in prices as the start of a major bull run, Mr.
Graulich, the South African executive, said that "half the
gold stocks are discounting a price of between $450 and
$475 at the moment." If the price fails to reach those
levels, investing in these stocks could lose much of its
present allure.
[Edit] Blood Brothers -- China Coins 2003, 02:11:11 09/07/03 Sun
[Edit] 1879 Smooth Transition Back to The Gold Standard.?. -- Tai, 23:23:22 09/06/03 Sat
From the Ron Paul speech, that auspec's link referenced:
"The return to gold in 1879 went smoothly and was
welcomed by the people, putting behind them the
disastrous Civil War inflationary period."
"The return to the Gold Standard went smoothly" -- caught my eye...
I wonder how they accomplished that.?.
Any historians out there in ER land...
What or how could we accomplish that same smooth transition, in this era.
It might be worth looking into the mechanics of how they did it. Yes.
...Tai
PS: Thanks, auspec, for posting the link.
[Edit] Hope You saw it -- auspec, 20:25:43 09/06/03 Sat
Our hero in the Congress, Ron Paul, electrified the Congress on Friday with
an amazing speech in which he:
1. Slammed our current fiat money monetary system as unfair to labor and
seniors;
2. Condemned central banks for manipulating the price of gold downward;
3. Chastised Federal Reserve Chairman Greenspan for hubris in thinking that
he and his band of cohorts could somehow outguess the free market;
4. Damned legal tender laws as immoral;
5. Warned about the threat fiat money poses to our freedom and our way of
life;
6. Decried the injustice to seniors who lose interest on their hard earned
savings as a direct result of the Federal Reserve's manipulating interest
rates for the benefit of special interests; and, much more.
For the text of Dr. Paul's speech, entitled "Paper Money and Tyranny,"
click on: http://www.fame.org/HTM/Paper%20Money%20and%20Tyranny.htm
http://www.fame.org/whatsnew.asp
Best Regards,
Larry Parks
Executive Director
FAME
Foundation for the Advancement of Monetary Education
Box 625, FDR Station
New York, NY 10150-0625
More than a million people have been left without drinking water in Russia's Far East, devastated by the worst drought in 40 years....Yep, at Vladivostok Mayor Yuri Kopylov's order, water will be turned on only once every two days for four hours at a time, and it will have to be unfiltered for economy's sake, making it too dangerous to drink.
No jobs in u.s. and 82 percent of pensions underfunded.
82
82
82
82
read my lips, as dollars falls boomers are doomed.
[Edit] Macmin Ag -- Netking, 15:32:02 09/05/03 Fri
[MMN on the ASX] Total Inferred Resource is 34.5 million oz's silver but the district is unexplored for epithermal silver and exploration to date suggests a district potential of 50 to 100m ozs Ag or perhaps much more. Macmin holds the land freehold rights as well as mineral rights held over 350 square kilometers of land....suggests that the entire Texas Silver District could host several (many) silver deposits similar to Twin Hills. Recent check assaying suggests grades in the Resource and Reserves are understated by between 5.5% and 28% with a possible average understating of 12%. high grade ore containing more than 60g/t Ag low grade ore, which at this stage is defined as containing between 30 and 60 g/t Ag.
POS above $7.00[USD] 'n this little Ag stock might fly....along with some others...
[Edit] little guys/gals -- volavka, 13:34:41 09/05/03 Fri
posted this early in day but do not see it :
magr
cypt
frlk
amep
all set to run strong.
This server has problems
[Edit] little guys/gals -- volavka, 13:34:08 09/05/03 Fri
posted this early in day but do not see it :
magr
cypt
frlk
amep
all set to run strong.
This server has problems
[Edit] Comedy Central {Banks}! -- auspec, 10:54:07 09/05/03 Fri
From Midas commentary:
{Midas} "When gold is about ready to break out, the cabal brings up central bank gold sales:"
Eichel Says Germany Could Sell Gold Only in `Small Steps'
2003-09-04 03:36 (New York)
Eichel Says Germany Could Sell Gold Only in `Small Steps'
Sept. 4 (Bloomberg) -- German Finance Minister Hans Eichel said the world's second-largest holder of gold could sell its gold reserves only in ``small steps'' even if it gets a larger share of central bank sales under a new gold agreement next year.
``The gold market is very sensitive,'' Eichel said in a televised interview with Bloomberg News. ``If the Bundesbank takes part in the next accord, then one will only be able to enter the market in very small steps or the price will collapse.''
Bundesbank President Ernst Welteke has said he wants the option to sell some of the bank's gold when a central bank accord limiting sales is up for review next year. The Finance Ministry, which is looking for ways to bring the government's budget deficit below a European Union limit, said last year it doesn't plan to use revenue from the sale to plug the gap.
Eichel said Germany will struggle to avoid breaching an EU deficit limit for a third year in 2004 as a stagnating economy and rising unemployment curb tax revenue.
``It will take an immense effort,'' to cut next year's deficit to 3 percent of gross domestic product, the EU's upper limit, Eichel said.
Germany lags only the U.S. in gold holdings and has about 3,500 tons. Welteke, who as head of the country's central bank is in charge of the gold reserves, has said the agreement should be renewed.
The 15-nation accord, forged in 1999, has helped pull the metal from a 20-year low of around $250 an ounce to a six-year high of $390.80 an ounce in February. The so-called Washington accord limits European central banks to selling 400 tons of gold a year.
--Christian Baumgaertel in the Frankfurt newsroom (49 69) 92041-
201, or at cbaumgaertel@bloomberg.net. Editor: Hamade, Coulter
END
{Midas} "This talk out of Germany, who always mouths off with comments like this on gold rallies, follows the incomprehensible report released by The World Bank yesterday about gold going to $300 because of increased mine supply in the next few years."
"Seems to me The Gold Cartel and friends are desperate because they know what they have done for many years and are terrified the world is going to find out how short and exposed they are. Well, I have news for them. The world is going to find out and many of the guilty are going to get their just deserts – in the court of public opinion if nowhere else."
"The good news is we are dealing with a bunch of bumbling central bankers who are in the process of really botching things up for the citizens of their respective countries."
auspec comments.............I don't think the emperor is clothed! This is truly laughable also. Next week we'll hear Greenspandex say "Central Banks stand ready to lease.............", having fully forgot that he's already used up that ploy. Wolf! Wolf! These people are complete fools.......& they're supposed to be running the world?
[Edit] And Down the Stretch They Come!! -- auspec, 10:16:05 09/05/03 Fri
At 1:00 E.S.T. Seabiscuit {GOLD!} is @ $377.80, a full kneck in front of Man of War!
Let's watch the close carefully for signs of FOULS!
[Edit] Silver food for thought -- Galearis, 06:44:37 09/05/03 Fri
I note that not a lot of comments made today (yet) about silver action. Might as well start. Having been out in the bush all summer I missed some of the background to the last significant silver explosion. From an email from rhody this AM. FWIW:
SNIP***********
Did you know that US Secretary of the Treasury Snow asked the Chinese to revalue their
Yuan upwards again just yesterday? The last time the US publicly asked the Chinese to
do this, silver blew upwards 29 cents. The Chinese said they would "eventually" raise their
Yuan. Here I think is their real response to the US request. Silver and gold will explode and that will carry the USD down, which will carry the Yuan down because the Yuan is rigidly linked to the FOREX rate for the USD.
I think that the US has violated a behind closed doors agreement that goes something like
this: " We the US, will support your application for membership in the WTO, provided you the
Chinese, will suppress the price of silver through central bank sales and leasing. There may
have been agreement by the US to allow the undervalued Yuan to be linked to the US dollar."
Since the Yuan is not traded internationally and cannot be bought by foreign dealers, the
artificial value cannot be broken upwards by US manipulation of FOREX through options.
Meanwhile, the same cannot be said for the US dollar. If the Chinese want the USD down,
(and the Yuan down too) they merely have to sell some of their 500 billion dollars in central
bank US dollars, and they can tank the Treasury market as well because most of this is in the
form of Treasuries.
Silver continues to go straight up as I type this, now up 10 cents. (2%)
FWIW, Rhody
******
At the same time, however, I do not see (yet) gold following in silver's rooster tail wake. Going to be an interesting day methinks...
[Edit] @Tree, et al -- dotti, 06:01:00 09/05/03 Fri
Thanks so much for your words of comfort!
I wish I had more time to analyze your thoughts, but you did a very good job of a straightforward approach, so I think I understand all.
I may not be able to visit this forum anymore. I may be moving on to a situation where a computer would be available only infrequently. I will try to visit.
Any of you who would like to be able to reach me, please contact me via email ASAP and I will try to respond with information while I still can. Rex, please take this as formal authorization to give out my email as you see fit. I would rather deal with one unwelcomed caller than to miss a contact from someone who could provide me comfort.
I will still be watching the gold situation as best I can.
I will become my name on Sunday. Open roads beckon from the northern climes. I'll probably settle in a month or so and shall return. auspec, beesting and SLATT, keep these people honest.
Regards,
Sojourner
[Edit] "Let The Looting Of Iraq Begin" -- Netking, 01:17:14 09/05/03 Fri
Exec. Ord. 13315: The Official Looting of Iraq
The executive order from President Bush [that follows in this link and expands upon executive order 13303] appears to be an asset grab under the guise of funding the Iraqi reconstruction, placing Iraq's state assets under control of the U.S. Treasury
...Hmmm, wonder how those peace lovin locals like the little piece of legislation....watch that space...
[Edit] Dotti and all -- Tree in the Forest, 21:20:29 09/04/03 Thu
“Things to Come”
by Tree in the Forest (with apologies to H.G. Wells)
Based on the reading that I’ve done at one of the links provided by the talent at this site (thank you all), here is what I have found out re: CC debt and “Things to Come”. As you are probably aware, there has been a concerted effort over the last several years via TV advertising to get people to “resolve” their debts thru credit counseling, bill consolidation etc. The reason is simple. Credit card debt is “printed” digital money i.e. no one has “put up” any money to extend you credit on your CC. It is created out of thin air as a ledger entry each time you charge something. This means that there is no “corpus delecti” or injured party if you fail to pay (in spite of the sob story they may give you on the phone). (Actually, we all know that this system injures all of us but that is not a legal argument.) Furthermore, it is unsecured debt so there is nothing to be taken from you if you don’t pay (like a house or car). This means that there are no grounds for them to collect any money from you UNLESS they get you do to one of two things:
1) Convert your unsecured debt to secured debt by consolidating your bills under a second mortgage.
2) OR “acknowledge” your debt to someone on the phone or otherwise. Saying “Yes I owe someone money” makes it so. You are admitting guilt.
“They” are trying very hard to induce you to take one of these courses of action. If you refuse to do either of these 2 things and you are delinquent, then they must prove their case against you which is, apparently, not so easy to do since there is no injured party. Thus the constant bleating on TV to get a 2nd mortgage, consolidate your bills, get credit counseling (in which you are forced to acknowledge your debt (“Yes, I owe some money”)) etc. etc. In other words, if you tell a CC bill collector “I don’t owe you anything; go ahead and prove otherwise” you will probably wind up not having to pay anything. Naturally, the purpose of all of this is to keep the debt machine going upon which is based our paper monetary system. Wouldn’t you like to “lend” money and collect the interest with absolutely no risk to yourself? Well the bankers have that privilege. It is all leading up to the day of reckoning which we all know is very close now. (Keep your eye on Oct gold.) Unsecured, unacknowledged debt may be obliterated in what is coming as it will no longer be possible to simply print money in this fashion on a gold standard. Thus, the by now endless push to get you to either secure your loan or acknowledge it. And furthermore the push for on-phone, online check writing and debit cards. Of course it is all couched as them “helping“ you and doing you a big favor. What a crock! It is, of course, possible to have credit cards on a gold standard. Someone will have to put up their gold to guarantee your payment. They lose it if you don’t pay. Now how many people will qualify for one of these “gold cards”? (grin) The CC business will never be the same!
I should also mention a new phenomenon which has recently appeared on TV ads. It is the wonderful new service so thoughtfully provided at some supermarkets now for the first time in history. That alone should tell you something. A machine to convert all that heavy coin money you’ve been carrying around into nice light paper money. Isn’t that sweet of them? They keep the Treasury-obligation coins while you get the “about to be devalued” Federal Reserve paper IOUs. Another rip-off! Isn’t it wonderful how our government and banking system work together to help us?
I wouldn’t worry too much, Dotti, about a lot of what is happening now. Much of it will be obliterated when the government can no longer print money. As I recall, the first Congress had a budget of some $88,000 dollars. What is that in today’s dollars? What will happen when the government is once again under the severe fiscal constraints of a gold standard?
And what will happen to the average individual when all of this goes down? Sometime ago, someone posted a link to a Fed (Treasury?) document on counterfeiting. It was fairly obtuse as one would expect from government workers trying to rationalize their jobs. However, I managed to glean one interesting fact from it. According to this document, 60% of all dollars reside overseas. This number is actually quite different from some of the speculation that I have heard on the gold sites. Numbers as high as 80-90% overseas have been bandied about. Now if 90% of dollars were to come home it would mean a 10 fold inflation. At 80 % this becomes a 5 fold inflation. But 60% is a mere 2.5 fold inflation. And this number seems reasonable.
For example, we have been informed that a very wealthy oriental gentlemen is willing to pay $2000/oz for gold. If gold were adjusted to this value and then all of the overseas dollars came home in a hyperinflationary scenario, the dollar would devalue until the POG reached $5000/oz, a 2.5 fold inflation. Monetary conversion would then follow readily via moving a decimal point 2 places and the face value of the Gold Eagle would be manifest as POG. Some might worry that many would be hurt by this inflation but it’s not really true. If after all, stocks, bonds and real estate have been grossly overvalued, as many here believe, then such an adjustment would merely be returning them to their true value. And those who place their faith in overvalued assets, while simultaneously ignoring an undervalued asset i.e. gold, shall reap as they sow. And why should it be otherwise?
I hope this helps you feel a little more comfortable with what is about to happen. If it plays out this way, justice will be served. Good luck to you Dotti.
"Why was I unable to help them?"
"How will I be able to help them in the future?"
"Why did I understand when they didn't?"
Good Sir! Some eyes are sealed shut by higher sources. Others are much more fortunate. Your ability to care about others facing difficulty WILL manifest in future actions. How can it not? It is most rare and it is who you obviously are.
Knowledge is one of life's greatest blessings & it never finds its way into the hands of hoarders. Thanks is appropriate as well as a humble request for more.........
"When the pupil is ready...........the teacher will appear"
Wachovia or First Union will take that on deposit........tis as good as $ {much better}.
Personally........I do all I can to help an individual and if they can't figure it out........eventually efforts are spent elsewhere. Fertile ground must be found, no? No Dead Seas allowed.
You have gathered my thoughts and stated them with the coherence that I wish I could have done. I cannot match my thought symbols with my written symbols. But thank you for doing this for me.
Synchronocity - Last night I was reading a short essay by Stephen Hawking on Galileo and was caught by this sentence, "Galileo's renowned conflict with the Catholic Church was central to his philosophy, for he was one of the first to argue that man could hope to understand how the world works, and moreover, that we could do this by observing the real world." (Of course, Galileo paid dearly for his outspoken ideas that were contrary to the Church.)
Yes, a change is coming. The Mayan calendar has an end date of 2012. There is a theory that they did not mean the end of mankind, but a shift in consciousness or the end of the path of thoughts as we know them now. (Questioner is much more qualified than I to speak of the Mayans.) So, if we are still around, we shall see.
I admire your upbeat attitude and respect your compilation of ideas.
[GATA] New gold supply study by Veneroso posted at
GoldMoney via Gold Newsletter
Date: 9/4/2003 11:41:28 AM Central Standard Time
From: GATAComm@aol.com
To: gata@yahoogroups.com
12:31p ET Thursday, September 4, 2003
Dear Friend of GATA and Gold:
GATA consultant Frank Veneroso's latest study, "An
Update on the Commodity Case for Gold," published
in the most recent issue of Brien Lundin's Gold
Newsletter, has been posted in the clear at
GoldMoney.com.
Veneroso's study is probably the most comprehensive
and important analysis of the gold supply situation
published this year and thus is essential reading.
Ending a too-long absence from the public stage,
Veneroso will be a major speaker at the New Orleans
Investment Conference at the end of October, to which
GATA is sending a delegation.
You can find Veneroso's study in the "Founder's
Commentary" box on the GoldMoney home page
here:
http://goldmoney.com/en/index.php
If you read only one thing about the markets today,
read this one.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[Edit] 9/11: Two Years On - Madeleine K Albright -- Netking, 10:54:54 09/04/03 Thu
Albright on the strategic errors undermining George Bush's war on terrorism.
Something very interesting is happening (something wonderful)...something way beyond the Keynes vs Mises economics debate, which is just a small part of a huge mural.
The Western worldview was born out of (I’m going to say) Galileo and his “mechanical world” insight. It was a giant step ahead in human enlightenment and helped to overthrow centuries of dogma.
It also set the stage for future centuries of a new (but similar) dogma. One this time supported by advances in technology. The wolves adopted new clothes…new symbol systems…but the game continued.
That mechanical universe insight basically said that the MATERIAL UNIVERSE PRECEEDED CONSCIESNESS. This set the stage for “planning” of all sorts. We can design the world, design economics, design society any way we want...as long as we have enough data and the right models and methodology. Or at least, our “superiors” can. Among other things; Communism, socialism, facism, fiat money (& therefore planned economies), etc. etc. etc. were born.
All from that one insight from Galileo. It took a few centuries to build, but build it did...to the extent that it impacted government, education, medicine, economics, i.e. the Vertical world we now live in.
It is this “Western” worldview that we now see playing out...or petering out. Because, you see, that worldview was WRONG.
An interesting thing is happening. Starting, again (in a way), from physics and this simple principle discovered by Quantum Physics: “you cannot separate the experimenter from the experiment”. This was discovered early in the 20th century.
From it, developed Quantum Mechanics...which is changing the world of science. Much as the old “mechanical universe” scientists hate it...they must use it because, you see, it works. And nothing else does…nothing else predicts on the micro or macro scale.
But the true impact, like Galileo’s insight is yet to come. You see… that new insight is that…
CONSCIOUSNESS PRECEDES THE MATERIAL UNIVERSE!
This insight is, even now, rolling through science like a hurricane. That mechanical universe worldview is dying. (in biology...helped along by my little buddies...the slime mold)
There is an enormous cultural change in this picture. We are no longer helpless units in a mechanical universe that has no meaning, and run by “experts”. Our lives planned, controlled. The “controllers” are as helpless in this new world as the flat worlders were when the Galilean world view appeared.
And the really exciting thing is the impact on individual lives. We live in a dynamic universe. Not a static one. It is interactive…material interacts with thought, or to be more precise, thought interacts with material. Physical things, are energy, energy is somehow part of the ether...emptyness... and all of it is somehow based upon consciousness. OUR CONSCIOUSNESS. And as we recognize that we live in a universe based on consciousness, what is our role individually?
Good question.
It's a serious situation. It's going to seem as if the world is ending...and in a way it is....the OLD world of symbols and systems that don't work anymore. But which really never did work all that well.
But we'd better have fun with it because otherwise we're going in for a very uncomfortable ride. Huge changes… everywhere in the world... coming faster and faster.
What we see happening today, the fascist development in America, is a late, retro reaction by a dying world view.
It will fail with the entire worldview of which it is a tiny part.
So, bring along those you can... as best you can. But trying to change people by use of the current vertical world methods, models, tactics... will not work. You cannot get this kind of message across playing those old games. A new political party or “better” judges on the supreme court, or a new Fed chairman, or better pedagogy in our schools…none of it will work. Let them die, let it all die...as it must.
Lay the groundwork for what comes next.
Talk to people, tell the truth. But don’t dwell on it. Focus on yourself and your SELF and be a model for your friends, your family, your community.
And enjoy life.
Nothing will have a bigger impact.
Good luck,
Flinter
[Edit] raw power -- number six, 07:23:40 09/04/03 Thu
haug that's the greatest idea I've heard yet. He was very fond of golden apples, but I fear he might pay off California's debts with flax money. His campaign platform, (to paraphrase Sly & the Family Stone,) "everybody is a tsar!"
"Major goal of first term: California secesion. [Oregon, WashingtonState and B.C. invited to join Freetopia....]
First order of business on assuming office: Fire 33% of the legislature [names selected at random] and replace them with full-grown adult ostritches, whose mysterious and awesome dignity will elevate the suidean barbarity long established there." you get the picture. All Hail Discordia.
[Edit] Sinclair re World Bank -- auspec, 04:38:04 09/04/03 Thu
Erratum
Author: Jim Sinclair
I reported earlier that the BIS had bad-mouthed gold today. However, when I browsed for the article and found it,I learned it was not the BIS.
It was probably the least market and business savvy group on the planet - the World Bank.
Have you ever visited the World Bank? This is the domicile of all homeless but well-connected PhD's in the world.
These are the same people who sold the world on the US Dollar Standard. These are also the people who could not even do simple arithmetic when they demanded pluralist elections in Burundi and Rwanda.
That demand was the cause of a genocide that followed the unseating of the minority party which controlled the army. Simple arithmetic - which the World Bank forgot to do - could have indicated a war would follow.
These non-business, non-market people have egos the size of the world for no reason whatsoever. They have screwed up everything they have done. So their bad mouthing of gold is in all probability the most bullish thing I have heard in years.
Post this on the gold chat boards because it has been misreported by others as the BIS which is a step up from the World Bank - but not by much.
END
[Edit] changes in me and perhaps changes all around me -- I don't want to say who I am, 04:36:20 09/04/03 Thu
first I must apologize, there are two pints of wine missing, and I know where they went....
I think something seems to have changed on the gold forums. I read here and atr about the world banks report on golds lusterous prospects. The report seems to be greeted with laughter. For good enough reason, I guess. I smiled when I learned of it. Are any of the gold bugs concerned? Are there any weak hands left out there? If tomorrow gold trades for $297 us, will it be greeted with fear or more buying? I own mostly physical, but have some gold and silver stocks, which I don't really follow anymore. They are up some. I used to fancy myself as some sort of trader, but my online borker was bought out by another and during a phone conversation regarding the transferr of accounts I rather impulsivly said, "you know what, just send me the certificates." I havn't opened an account with another broker, I haven't even looked into it. Turns out the certificates are printed on pretty paper, I want to keep them.
We have been sitting in the train car for a vary long time. We talked about someday the train would leave the station. It's moving very gradually at least it seems that way to me, but the train is moving now. It feels like it won't stop. This is it isn't it. It's been "happening" for a little while now. I am afraid. I don't want to get off or anything but there are people on the platform waiting for some other train that I don't think is comeing. This is going to be really bad isn't it. Their 4
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