Gold Discussion for Investors and Market Analysts

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Eldorado
(Fri Jun 06 1997 00:00)
@the scene
RJ -- What do you figure that would do to the Sept contract? Would there even be a market anymore?

Eldorado
(Fri Jun 06 1997 00:00)
@the scene
RJ -- What do you figure that would do to the Sept contract? Would there even be a market anymore?

DK
(Fri Jun 06 1997 00:09)
going for broke!!!!!!!!!!!!!!!!!!!!!!!!!!!!

RJ How would you play the PGM market friday with $38,000. risk funds?

DK
(Fri Jun 06 1997 00:09)
going for broke!!!!!!!!!!!!!!!!!!!!!!!!!!!!

RJ How would you play the PGM market friday with $38,000. risk funds?

kuston
(Fri Jun 06 1997 00:11)
thansen@cris.com
D.A. - Savor the moment.
You are living a once in a lifetime dream right now.

July Silver closed today above its 18 day MA. Combine that with the
increase in the lease rates and I'm buying in the morning. It will be
my first silver contract. I guess you could call me a silver virgin
right now.

PL is a substitute for PA. Using a multiplier of 0.6 I think I rememeber
reading here. If the autos can't get PA - they will be buying PL. July PL
still has 3 to 4 weeks until 1st notice. I wonder how many of the paper
PA players jumped to PL last week? Figuring the demand would move to the
more liquid market. I'm learning more everyday - I love this game.

kuston
(Fri Jun 06 1997 00:11)
thansen@cris.com
D.A. - Savor the moment.
You are living a once in a lifetime dream right now.

July Silver closed today above its 18 day MA. Combine that with the
increase in the lease rates and I'm buying in the morning. It will be
my first silver contract. I guess you could call me a silver virgin
right now.

PL is a substitute for PA. Using a multiplier of 0.6 I think I rememeber
reading here. If the autos can't get PA - they will be buying PL. July PL
still has 3 to 4 weeks until 1st notice. I wonder how many of the paper
PA players jumped to PL last week? Figuring the demand would move to the
more liquid market. I'm learning more everyday - I love this game.

RJ
(Fri Jun 06 1997 00:13)
rjd@pacbell.net
Eldo - if I may be familiar - Just an idle speculation, that. In reply: Bend down, pick up a rock. Now throw it way up high. Wait. What happens? Life is self teaching. The best part about it is that I don't care which way it moves, as long as it moves. Therein lies the game and this one is afoot.............

RJ
(Fri Jun 06 1997 00:13)
rjd@pacbell.net
Eldo - if I may be familiar - Just an idle speculation, that. In reply: Bend down, pick up a rock. Now throw it way up high. Wait. What happens? Life is self teaching. The best part about it is that I don't care which way it moves, as long as it moves. Therein lies the game and this one is afoot.............

ark
(Fri Jun 06 1997 00:16)
saltedcore
Time to buy some high caliber gold stocks. Hm Abx bmg Tvx, etc

Also, I mentioned a few days ago what I thought years ago
EMU is a dog that won't hunt. So it is dead. Buy gold accordingly.
Don't worry whether or not current prices are at the low.
How long of a base line do you need? We'll see 450 gold
in the not too distant future.

Time for my warm milk and beddy by.

ark
(Fri Jun 06 1997 00:16)
saltedcore
Time to buy some high caliber gold stocks. Hm Abx bmg Tvx, etc

Also, I mentioned a few days ago what I thought years ago
EMU is a dog that won't hunt. So it is dead. Buy gold accordingly.
Don't worry whether or not current prices are at the low.
How long of a base line do you need? We'll see 450 gold
in the not too distant future.

Time for my warm milk and beddy by.

RJ
(Fri Jun 06 1997 00:18)
rjd@pacbell.net
DK - check your mail............

RJ
(Fri Jun 06 1997 00:18)
rjd@pacbell.net
DK - check your mail............

to Ark
(Fri Jun 06 1997 00:24)
to Ark
hm and bmg high caliber?

Eldorado
(Fri Jun 06 1997 00:24)
@the scene
RJ -- I thank you for the up/down scenario. I suppose it will remain true unless that rock gains orbital status and pretty much ignores gravity. A Sept contract of some year might trade again. I do agree that I don't care which way it goes. Just that it does!

Eldorado
(Fri Jun 06 1997 00:24)
@the scene
RJ -- I thank you for the up/down scenario. I suppose it will remain true unless that rock gains orbital status and pretty much ignores gravity. A Sept contract of some year might trade again. I do agree that I don't care which way it goes. Just that it does!

to Ark
(Fri Jun 06 1997 00:24)
to Ark
hm and bmg high caliber?

DK
(Fri Jun 06 1997 00:26)
I quit
If Gold cannot move above $346.00 friday and stay the CBs have won the war. It's over and we are too lazy minded to figure it out. What does it take to admit we loss. How about all of our funds and our childrens.

DK
(Fri Jun 06 1997 00:26)
I quit
If Gold cannot move above $346.00 friday and stay the CBs have won the war. It's over and we are too lazy minded to figure it out. What does it take to admit we loss. How about all of our funds and our childrens.

RJ
(Fri Jun 06 1997 00:27)
rjd@pacbell.net
I tend to respond to specific questions by e-mail. Why bore the rest with our little lives? I'm public as thou also should be.

RJ
(Fri Jun 06 1997 00:27)
rjd@pacbell.net
I tend to respond to specific questions by e-mail. Why bore the rest with our little lives? I'm public as thou also should be.

RJ
(Fri Jun 06 1997 00:36)
rjd@pacbell.net
DK - or may I call you D? I'm getting much too informal here.

If gold stumbles above $346 I recommend a small caliber bullet behind the left ear. The gold's ear, not yours. We should be well understood in this world. I have been accused, however, of torturing my metaphors.....It's a curse.

RJ
(Fri Jun 06 1997 00:36)
rjd@pacbell.net
DK - or may I call you D? I'm getting much too informal here.

If gold stumbles above $346 I recommend a small caliber bullet behind the left ear. The gold's ear, not yours. We should be well understood in this world. I have been accused, however, of torturing my metaphors.....It's a curse.

tarnished
(Fri Jun 06 1997 00:41)
@salvos from Dinghy
Front: Sorry Front, Stevie's actually from Cranbrook BC, not Ottawa.
'night all...you too Ted,and try picking a winning team for a change!
I think that slip in the ocean shrank more than just one organ!

tarnished
(Fri Jun 06 1997 00:41)
@salvos from Dinghy
Front: Sorry Front, Stevie's actually from Cranbrook BC, not Ottawa.
'night all...you too Ted,and try picking a winning team for a change!
I think that slip in the ocean shrank more than just one organ!

DK
(Fri Jun 06 1997 00:42)
good night
RJ You are my metor. I will slay the dragon tomarrow morning.

DK
(Fri Jun 06 1997 00:42)
good night
RJ You are my metor. I will slay the dragon tomarrow morning.

DK
(Fri Jun 06 1997 00:45)
cant spell
RJ thats mentor. I need some sleep. good night all

DK
(Fri Jun 06 1997 00:45)
cant spell
RJ thats mentor. I need some sleep. good night all

Six times WW
(Fri Jun 06 1997 00:53)
You haven't seen anything yet

SO you think that WW was bad; just you wait HeHeHeHe.

Six times WW
(Fri Jun 06 1997 00:53)
You haven't seen anything yet

SO you think that WW was bad; just you wait HeHeHeHe.

RJ
(Fri Jun 06 1997 00:59)
rjd@pacbell.net
One final word as 4 am comes too soon. Backwardization means that there is no future contract. The world is spot and the word is cash. Too many people think the tail wags the dog. The futures are now and forever being driven by the spot markets. When the crunch is here and the need is now, who cares about September, or even tomorrow. There are many who would take issue with this. For those I reply: we travel in diferent worlds, who is to say what is real? When the showdown comes, you show me your contract and I'll show you my metal. We'll let God decide.

RJ
(Fri Jun 06 1997 00:59)
rjd@pacbell.net
One final word as 4 am comes too soon. Backwardization means that there is no future contract. The world is spot and the word is cash. Too many people think the tail wags the dog. The futures are now and forever being driven by the spot markets. When the crunch is here and the need is now, who cares about September, or even tomorrow. There are many who would take issue with this. For those I reply: we travel in diferent worlds, who is to say what is real? When the showdown comes, you show me your contract and I'll show you my metal. We'll let God decide.

WWWWWWWWWWWWW
(Fri Jun 06 1997 01:03)
thirteenw's@www.www
Gold will jump up $10 very soon.
Mark my wwwwwwords.
Nothing could be better than thirteen W's.

WWWWWWWWWWWWW
(Fri Jun 06 1997 01:03)
thirteenw's@www.www
Gold will jump up $10 very soon.
Mark my wwwwwwords.
Nothing could be better than thirteen W's.

Test
(Fri Jun 06 1997 01:04)
@test

This is probably a very dumb question, but if BT is
right, and gold has,in effect, been cornered ( as the
PA market may be ) what does that do to gold mining
stocks? Do they take off like a rocket also?
Thanks.

Test
(Fri Jun 06 1997 01:04)
@test

This is probably a very dumb question, but if BT is
right, and gold has,in effect, been cornered ( as the
PA market may be ) what does that do to gold mining
stocks? Do they take off like a rocket also?
Thanks.

RJ
(Fri Jun 06 1997 01:09)
rjd@pacbell.net
Hey Ws,
The only way gold will jump $10 is with a knee in the ribs and a stomp on the foot. Or maybe I misunderstood "soon"... On a tectonic scale......

RJ
(Fri Jun 06 1997 01:09)
rjd@pacbell.net
Hey Ws,
The only way gold will jump $10 is with a knee in the ribs and a stomp on the foot. Or maybe I misunderstood "soon"... On a tectonic scale......

RJ
(Fri Jun 06 1997 01:25)
rjd@pacbell.net
Has anyone looked at the prices recently? How is it that I reported these prices 2 1/2 hours ago? What's faster than a speeding Kitco? I do not blaspheme nor do I prophesy. This is my world. I live in it, I breathe it, and sometime I stub my toe on it.

RJ
(Fri Jun 06 1997 01:25)
rjd@pacbell.net
Has anyone looked at the prices recently? How is it that I reported these prices 2 1/2 hours ago? What's faster than a speeding Kitco? I do not blaspheme nor do I prophesy. This is my world. I live in it, I breathe it, and sometime I stub my toe on it.

Goldbug 234513
(Fri Jun 06 1997 01:27)
HEY RJ

HEY RJ: Your ( 23:15 ) describes your true talent.

Goldbug 234513
(Fri Jun 06 1997 01:27)
HEY RJ

HEY RJ: Your ( 23:15 ) describes your true talent.

RJ
(Fri Jun 06 1997 01:29)
rjd@pacbell.net
I have, in a fit of revenge, poured half a can Fresca ( remember Fresca? ) in my spell checker. It reads backwardation as backwardization. I am ashamed......

RJ
(Fri Jun 06 1997 01:29)
rjd@pacbell.net
I have, in a fit of revenge, poured half a can Fresca ( remember Fresca? ) in my spell checker. It reads backwardation as backwardization. I am ashamed......

RJ
(Fri Jun 06 1997 01:33)
rjd@pacbell.net
Hey goldbug,
You are a gentleman and I truly feel welcomed.

RJ
(Fri Jun 06 1997 01:33)
rjd@pacbell.net
Hey goldbug,
You are a gentleman and I truly feel welcomed.

Auric
(Fri Jun 06 1997 01:39)
@To buy or not to buy

I must admit, I am probably in over my head here,
but it seems we have BT ( if he, they are real ) Ted
Butler, and Oracle on one side and RJ on the other.
Is this play entering its final act?

Auric
(Fri Jun 06 1997 01:39)
@To buy or not to buy

I must admit, I am probably in over my head here,
but it seems we have BT ( if he, they are real ) Ted
Butler, and Oracle on one side and RJ on the other.
Is this play entering its final act?

Ron
(Fri Jun 06 1997 01:41)
Overnight Move
EBN spot gold now at 344.65 as Sydney and Hong Kong have bid up prices about a dollar since the New York close. It'll be interesting to see what happens tomorrow with COMEX gold. FWIW and based on my own very brief observations of the market, the initial action in New York often goes counter to any relatively large overnight move.

After reading Cherokee's post today, I'm going to call my broker tomorrow and place an open order bid of $50 for a Dec98 call with a $370 strike. Let's see just how low those crazy guys at Merrill Lynch'll go! Hope the order desk doesn't scream at me for wasting their time. If it gets filled I'll be kicking myself: I paid a LOT more for some Dec97 360s a while back. If I have to bid $60 later to get a fill, fine. It's the sort of UNBELIEVABLE price that could tempt a fellow to ante up his whole wad!

Re silver: What do traders here think of buying some Dec97 450 silver puts when the underlying goes to about $490 or so ( the puts will be real cheap then ) , and then waiting for the metal to fall back to the 460-465 area before going long? Is it a good way to minimize your insurance costs for going long? Is there a problem with liquidating both positions simultaneously if silver goes against you?

Ron
(Fri Jun 06 1997 01:41)
Overnight Move
EBN spot gold now at 344.65 as Sydney and Hong Kong have bid up prices about a dollar since the New York close. It'll be interesting to see what happens tomorrow with COMEX gold. FWIW and based on my own very brief observations of the market, the initial action in New York often goes counter to any relatively large overnight move.

After reading Cherokee's post today, I'm going to call my broker tomorrow and place an open order bid of $50 for a Dec98 call with a $370 strike. Let's see just how low those crazy guys at Merrill Lynch'll go! Hope the order desk doesn't scream at me for wasting their time. If it gets filled I'll be kicking myself: I paid a LOT more for some Dec97 360s a while back. If I have to bid $60 later to get a fill, fine. It's the sort of UNBELIEVABLE price that could tempt a fellow to ante up his whole wad!

Re silver: What do traders here think of buying some Dec97 450 silver puts when the underlying goes to about $490 or so ( the puts will be real cheap then ) , and then waiting for the metal to fall back to the 460-465 area before going long? Is it a good way to minimize your insurance costs for going long? Is there a problem with liquidating both positions simultaneously if silver goes against you?

kuston
(Fri Jun 06 1997 01:49)
thansen@cris.com
RJ - Yes, I understand your point about backwardization. I see backwardization in every company that I work for. Sell the future for
the present. But it doesn't have to be that way. Locking in a price
for the future can be dealt with. If GM or Intel know they need PA in
Sept or Dec, not locking in a price today now is moranic! They are not
in the metal trading business.
Sadly, I have seen enough to know they will continue to speculate in
the markets and not lock in prices. No one will lose their job over a
few 100K or a million or two. Someday, 1 company will figure out what
business they are in and do it right.

Didn't Dell lose millions in currency trading a year or two ago and they
assemble personal computers. Go figure.

kuston
(Fri Jun 06 1997 01:49)
thansen@cris.com
RJ - Yes, I understand your point about backwardization. I see backwardization in every company that I work for. Sell the future for
the present. But it doesn't have to be that way. Locking in a price
for the future can be dealt with. If GM or Intel know they need PA in
Sept or Dec, not locking in a price today now is moranic! They are not
in the metal trading business.
Sadly, I have seen enough to know they will continue to speculate in
the markets and not lock in prices. No one will lose their job over a
few 100K or a million or two. Someday, 1 company will figure out what
business they are in and do it right.

Didn't Dell lose millions in currency trading a year or two ago and they
assemble personal computers. Go figure.

kuston
(Fri Jun 06 1997 01:55)
thansen@cris.com
Ron,

Why do you think put options will be cheap after a 20/30 cent run up?
Volatility increases the price of options.

kuston
(Fri Jun 06 1997 01:55)
thansen@cris.com
Ron,

Why do you think put options will be cheap after a 20/30 cent run up?
Volatility increases the price of options.

RJ
(Fri Jun 06 1997 01:58)
rjd@pacbell.net
I wish to be at odds with no one, nor to take sides. The market speaks the only truth. Ask yourselves: when was the last time you saw such real world, real time, detailed, and accurate information? I have read these postings for months and have seen a true desire to be informed. Some are put off by my style, yet we all have one. The world is a big place in which I have found comfort and friends. The world in which we find our common interest is a small one indeed. Discord costs money. Who among us will spare even the smallest pocket change for what gains us no good? I came only to share and am content to be judged by my peers.

RJ
(Fri Jun 06 1997 01:58)
rjd@pacbell.net
I wish to be at odds with no one, nor to take sides. The market speaks the only truth. Ask yourselves: when was the last time you saw such real world, real time, detailed, and accurate information? I have read these postings for months and have seen a true desire to be informed. Some are put off by my style, yet we all have one. The world is a big place in which I have found comfort and friends. The world in which we find our common interest is a small one indeed. Discord costs money. Who among us will spare even the smallest pocket change for what gains us no good? I came only to share and am content to be judged by my peers.

Auric
(Fri Jun 06 1997 02:14)
@on the one hand..

RJ: I should have put that a little better. I am
basically a layman in here. I meant that two
opposite conclusions seem to have been reached with
respect to gold. I admit, you made an impressive
call. I am just trying to sort it out.

Auric
(Fri Jun 06 1997 02:14)
@on the one hand..

RJ: I should have put that a little better. I am
basically a layman in here. I meant that two
opposite conclusions seem to have been reached with
respect to gold. I admit, you made an impressive
call. I am just trying to sort it out.

Ron
(Fri Jun 06 1997 02:15)
Silver
Kuston: Sentiment seems to be bullish right now. Nobody is expecting silver to go to 450. A couple of days ago when it was 469, Dec97 450 calls were trading at 12cents/oz. Now, at 479 they're about 10cents/oz. And two or three weeks ago, when silver hit 485, they were about 7cents/oz if I remember correctly. True about volatility, but sentiment seems to be overriding that maxim for the moment.

Ron
(Fri Jun 06 1997 02:15)
Silver
Kuston: Sentiment seems to be bullish right now. Nobody is expecting silver to go to 450. A couple of days ago when it was 469, Dec97 450 calls were trading at 12cents/oz. Now, at 479 they're about 10cents/oz. And two or three weeks ago, when silver hit 485, they were about 7cents/oz if I remember correctly. True about volatility, but sentiment seems to be overriding that maxim for the moment.

Ron
(Fri Jun 06 1997 02:23)
!
Dec97 450 calls=Dec97 450 puts . . . getting sleepy

Ron
(Fri Jun 06 1997 02:23)
!
Dec97 450 calls=Dec97 450 puts . . . getting sleepy

MURRSTEIN & GINSBERG
(Fri Jun 06 1997 02:28)
POSITIONS-POSITIONS
HELLO TO ALL. WE HAVVE NOT POSTED OUR POSITIONS FOR OVER A YEAR. BUT IF WE WERE
WERE SHORT RIGHT NOW AT THE 60th FLOOR, WE WOULD BE LOOKING FOR THE NEAREST WINDOW.

MURRSTEIN & GINSBERG
(Fri Jun 06 1997 02:28)
POSITIONS-POSITIONS
HELLO TO ALL. WE HAVVE NOT POSTED OUR POSITIONS FOR OVER A YEAR. BUT IF WE WERE
WERE SHORT RIGHT NOW AT THE 60th FLOOR, WE WOULD BE LOOKING FOR THE NEAREST WINDOW.

MURRSTEIN & GINSBERG
(Fri Jun 06 1997 02:28)
POSITIONS-POSITIONS
HELLO TO ALL. WE HAVVE NOT POSTED OUR POSITIONS FOR OVER A YEAR. BUT IF WE WERE
WERE SHORT RIGHT NOW AT THE 60th FLOOR, WE WOULD BE LOOKING FOR THE NEAREST WINDOW.

MURRSTEIN & GINSBERG
(Fri Jun 06 1997 02:28)
POSITIONS-POSITIONS
HELLO TO ALL. WE HAVVE NOT POSTED OUR POSITIONS FOR OVER A YEAR. BUT IF WE WERE
WERE SHORT RIGHT NOW AT THE 60th FLOOR, WE WOULD BE LOOKING FOR THE NEAREST WINDOW.

MURRSTEIN & GINSBERG
(Fri Jun 06 1997 02:38)
SUB IQ SPELLING
SORRY, OUR SPELLCHECKER IS OUR IQ TONIGHT. CHUCKLE ON THAT ONE YOU SHORT PEOPLE.

MURRSTEIN & GINSBERG
(Fri Jun 06 1997 02:38)
SUB IQ SPELLING
SORRY, OUR SPELLCHECKER IS OUR IQ TONIGHT. CHUCKLE ON THAT ONE YOU SHORT PEOPLE.

Test
(Fri Jun 06 1997 02:55)
@test

M&G: ARE YOU REFERRING TO GOLD?

Test
(Fri Jun 06 1997 02:55)
@test

M&G: ARE YOU REFERRING TO GOLD?

John Disney
(Fri Jun 06 1997 02:59)
jdisney@iafrica.com
To All Those interested in Blyvoor/Dbn- deep.
Current prices provide graphic example of best entry
Durban Deep - DD trading 4.75$. Blyvoor trades 2.5$
You SHOULD get ( check your broker ) One DD for 1.67
( 5/3 ) blyvoor. 2.5 * 1.67 = 4.17$ rather than 4.75. Now
if you go via blyvoor, You will not get the half a
new DD option ( striking 60 expiry 2002 ) . However,
I doubt if you would get that anyway via ADR. They
normally auction these kinds of things in the worst
way possible for the shareholder, so I would attach
no value to the option piece. Thus enterring via
blyvoor has a 12% advantage over buying DD. But check
with your broker ( who may not know where South Africa is )
to make sure.

John Disney
(Fri Jun 06 1997 02:59)
jdisney@iafrica.com
To All Those interested in Blyvoor/Dbn- deep.
Current prices provide graphic example of best entry
Durban Deep - DD trading 4.75$. Blyvoor trades 2.5$
You SHOULD get ( check your broker ) One DD for 1.67
( 5/3 ) blyvoor. 2.5 * 1.67 = 4.17$ rather than 4.75. Now
if you go via blyvoor, You will not get the half a
new DD option ( striking 60 expiry 2002 ) . However,
I doubt if you would get that anyway via ADR. They
normally auction these kinds of things in the worst
way possible for the shareholder, so I would attach
no value to the option piece. Thus enterring via
blyvoor has a 12% advantage over buying DD. But check
with your broker ( who may not know where South Africa is )
to make sure.

Goldbug23
(Fri Jun 06 1997 03:29)
@Ingotwetrust
EBN gold up 1.10, silver up.05

Goldbug23
(Fri Jun 06 1997 03:29)
@Ingotwetrust
EBN gold up 1.10, silver up.05

GO GOLD, GOOOO
(Fri Jun 06 1997 03:35)
GO

How far is spot Au from busting its 100 and 200 day M.A??

A strong advance over this line could lead to the mother of all short covering rallies in gold..., as short after short tries to cover!

Go Gold, GOOO




GO GOLD, GOOOO
(Fri Jun 06 1997 03:35)
GO

How far is spot Au from busting its 100 and 200 day M.A??

A strong advance over this line could lead to the mother of all short covering rallies in gold..., as short after short tries to cover!

Go Gold, GOOO




Aly
(Fri Jun 06 1997 04:08)
aveerman@sas.ab.ca
John Disney: Thank you for info re Blyvoor/DD. It has been a great help. My broker confirmed your thought of 3 Blyvoor per ADR - but he had to call Bank of New York ( ? ) to do so as he was unable to find this anywhere in his system. He was unable to tell me when the merger is to be finalized, do you know?

Aly
(Fri Jun 06 1997 04:08)
aveerman@sas.ab.ca
John Disney: Thank you for info re Blyvoor/DD. It has been a great help. My broker confirmed your thought of 3 Blyvoor per ADR - but he had to call Bank of New York ( ? ) to do so as he was unable to find this anywhere in his system. He was unable to tell me when the merger is to be finalized, do you know?

D.A.
(Fri Jun 06 1997 04:22)
spilling.over
All:

To quote my late night desk "funds are buying silver like they've never seen it before". Its up about 20 cents from NY close. The sharks are smelling blood. Don't get eaten. Don't short anything thats is bright, lustrous, and a good conductor of heat and electricity.

D.A.
(Fri Jun 06 1997 04:22)
spilling.over
All:

To quote my late night desk "funds are buying silver like they've never seen it before". Its up about 20 cents from NY close. The sharks are smelling blood. Don't get eaten. Don't short anything thats is bright, lustrous, and a good conductor of heat and electricity.

Gold
(Fri Jun 06 1997 04:53)
@left out

Hey, fellas, take me along too!

Gold
(Fri Jun 06 1997 04:53)
@left out

Hey, fellas, take me along too!

The Crusher
(Fri Jun 06 1997 05:01)
@Going Nuts

Pull those shorts down and squeeze this bear by the
balls until he squeals!

The Crusher
(Fri Jun 06 1997 05:01)
@Going Nuts

Pull those shorts down and squeeze this bear by the
balls until he squeals!

Duncan
(Fri Jun 06 1997 06:47)
Earl - 22:57
T'would be nice indeed! BT's post gave me the 'courage' to make my post
- I am not in the same league as you chaps, but do know a little of the
South African situation. It would appear to me that the Central Banks are
in a no-lose situation with respect to their loans - presuming they lend
no more gold to hedging mines than they have in the ground.

Duncan
(Fri Jun 06 1997 06:47)
Earl - 22:57
T'would be nice indeed! BT's post gave me the 'courage' to make my post
- I am not in the same league as you chaps, but do know a little of the
South African situation. It would appear to me that the Central Banks are
in a no-lose situation with respect to their loans - presuming they lend
no more gold to hedging mines than they have in the ground.

Mike Sheller
(Fri Jun 06 1997 06:59)
@the feet of the Oracle
Oracle of Alberta's "7 Threads" at Gold-Eagle is a well-written, meaty summary of the swirling background events and theories concerning gold. Intuition tends to reinforce Oracle's general conclusion that it is likely that history and reality will prevail and gold will ultimately establish a revalued relationship to unchecked fractional reserve banking practices and unending credit creation. The entire financial structure of the West is now too vulnerable to a shock, which could come from any of many directions. Steady accumulation of bullion at these prices is still the only hedge the people have against potential catastrophe.

Mike Sheller
(Fri Jun 06 1997 06:59)
@the feet of the Oracle
Oracle of Alberta's "7 Threads" at Gold-Eagle is a well-written, meaty summary of the swirling background events and theories concerning gold. Intuition tends to reinforce Oracle's general conclusion that it is likely that history and reality will prevail and gold will ultimately establish a revalued relationship to unchecked fractional reserve banking practices and unending credit creation. The entire financial structure of the West is now too vulnerable to a shock, which could come from any of many directions. Steady accumulation of bullion at these prices is still the only hedge the people have against potential catastrophe.

Mike Sheller
(Fri Jun 06 1997 07:02)
Egypt Me!
Will the recent "gold find" in Egypt replace the "Bungle in the Jungle" with "Rands in the Sands"? Or is this another Pyramid scheme? The whole thing Sphinx to me!

Mike Sheller
(Fri Jun 06 1997 07:02)
Egypt Me!
Will the recent "gold find" in Egypt replace the "Bungle in the Jungle" with "Rands in the Sands"? Or is this another Pyramid scheme? The whole thing Sphinx to me!

panda
(Fri Jun 06 1997 07:06)
@
Platinum:

http://biz.yahoo.com/finance/97/06/06/y0023_z00_3.html

panda
(Fri Jun 06 1997 07:06)
@
Platinum:

http://biz.yahoo.com/finance/97/06/06/y0023_z00_3.html

panda
(Fri Jun 06 1997 07:10)
@
More platinum news, most are short stories, but VERY good reads!:

http://biz.yahoo.com/finance/97/06/06/y0023_z00_4.html

http://biz.yahoo.com/finance/97/06/06/impay_rpa_1.html

http://biz.yahoo.com/finance/97/06/06/y0023_z00_10.html

http://biz.yahoo.com/finance/97/06/06/y0023_z00_12.html

panda
(Fri Jun 06 1997 07:10)
@
More platinum news, most are short stories, but VERY good reads!:

http://biz.yahoo.com/finance/97/06/06/y0023_z00_4.html

http://biz.yahoo.com/finance/97/06/06/impay_rpa_1.html

http://biz.yahoo.com/finance/97/06/06/y0023_z00_10.html

http://biz.yahoo.com/finance/97/06/06/y0023_z00_12.html

panda
(Fri Jun 06 1997 07:13)
@it.just.gets.better!
I love the quotes, "The platinum situation is analogous to a run on a bank."

panda
(Fri Jun 06 1997 07:13)
@it.just.gets.better!
I love the quotes, "The platinum situation is analogous to a run on a bank."

Auric
(Fri Jun 06 1997 07:24)
@This is more like it

Panda: I gave up reading Ludlum and Clancy since I
came to this site. It's like reading a damn spy
novel and looking at a crystal ball all at once.
Exciting stuff, eh?

Auric
(Fri Jun 06 1997 07:24)
@This is more like it

Panda: I gave up reading Ludlum and Clancy since I
came to this site. It's like reading a damn spy
novel and looking at a crystal ball all at once.
Exciting stuff, eh?

Tortfeasor
(Fri Jun 06 1997 07:33)
Joke of the morning
Morning Ted and the rest of you celebrating folks. It looks like we may be shaking loose in the metals doldrums. Not to bring WW back to the topic of welfare and its ephemeral fix the following actual items might pass along a chuckle on this Friday.

For those unfamiliar, Welfare payments are made in the US to
individuals and families with income below a certain level.
The following quotations are taken from actual letters received
by the Welfare Departmentin applications for support of
receiving payments.

1. I am forwarding my marriage certificate and 6 children.
I had seven but one died which was baptised on a half sheet
of paper.

2. I am writing the welfare department to say that my baby
was born two years old. When do I get my money?

3. Mrs. Jones has not had any clothes for two years and
has been visited regularly by the clergy.

4. I cannot get sick pay. I have six children can you tell me why?

5. I am glad to report that my husband who is missing is dead.

6. This is my eighth child. What are you going to do about it.

7. Please find for certain if my husband is dead. The man I am
now living with can't do anything until he knows.

8. I am very much annoyed to find out that you have branded my son
illiterate. This is a dirty lie as I was married a week before
he was born.

9. In answer to your letter, I have given birth to a son weighing
10 lbs. I hope this is satisfactory.

10. I am forwarding my marriage certificate and my 3 children
one of which is a mistake as you can see.

11. My husband got his project cut off about two weeks ago and I
haven't had any relief since.

12. Unless I get my husband's money pretty soon, I will be
forced to lead an immortal life.

13. You have my changed little boy to a girl, will this
make any difference?

14. I have no children yet, as my husband is a truck
driver and works night and day.

15. I want money as quick as I can get it. I have been in bed
with the doctor for two weeks and he doesn't do me any good.
If things don't improve, I will have to send for another doctor.

16. In accordance with your instructions, I have given birth to
twins in the enclosed envelope.



Tortfeasor
(Fri Jun 06 1997 07:33)
Joke of the morning
Morning Ted and the rest of you celebrating folks. It looks like we may be shaking loose in the metals doldrums. Not to bring WW back to the topic of welfare and its ephemeral fix the following actual items might pass along a chuckle on this Friday.

For those unfamiliar, Welfare payments are made in the US to
individuals and families with income below a certain level.
The following quotations are taken from actual letters received
by the Welfare Departmentin applications for support of
receiving payments.

1. I am forwarding my marriage certificate and 6 children.
I had seven but one died which was baptised on a half sheet
of paper.

2. I am writing the welfare department to say that my baby
was born two years old. When do I get my money?

3. Mrs. Jones has not had any clothes for two years and
has been visited regularly by the clergy.

4. I cannot get sick pay. I have six children can you tell me why?

5. I am glad to report that my husband who is missing is dead.

6. This is my eighth child. What are you going to do about it.

7. Please find for certain if my husband is dead. The man I am
now living with can't do anything until he knows.

8. I am very much annoyed to find out that you have branded my son
illiterate. This is a dirty lie as I was married a week before
he was born.

9. In answer to your letter, I have given birth to a son weighing
10 lbs. I hope this is satisfactory.

10. I am forwarding my marriage certificate and my 3 children
one of which is a mistake as you can see.

11. My husband got his project cut off about two weeks ago and I
haven't had any relief since.

12. Unless I get my husband's money pretty soon, I will be
forced to lead an immortal life.

13. You have my changed little boy to a girl, will this
make any difference?

14. I have no children yet, as my husband is a truck
driver and works night and day.

15. I want money as quick as I can get it. I have been in bed
with the doctor for two weeks and he doesn't do me any good.
If things don't improve, I will have to send for another doctor.

16. In accordance with your instructions, I have given birth to
twins in the enclosed envelope.



panda
(Fri Jun 06 1997 07:40)
@
Auric, Tort -- GOOD MORNING! Can't wait for the open in the PA / PL pits.:- ) )

panda
(Fri Jun 06 1997 07:40)
@
Auric, Tort -- GOOD MORNING! Can't wait for the open in the PA / PL pits.:- ) )

Tortfeasor
(Fri Jun 06 1997 07:41)
Bonus joke
I'm think platinum might retract. Are anyof you going short on the possibility of a pullback in the market?

Here's a bonus joke I may have posted before but I thought it was amusing and reflects my thoughts on the subject matter.

Two men, sentenced to die in the electric chair on the same day,
were led down to the room in which they would their maker. The
priest had given them last rites, the formal speech had been
given by the warden, and a final prayer had been said among the
participants. The warden, turning to the first man, solemnly
asked, "Son, do you have a last request?"

To which the man replied, "Yes sir, I do. I love dance music.
Could you please play the Macarena for me one last time?"

"Certainly," replied the warden. He turned to the other man and
asked, "Well, what about you, son? What is your final request?"

"Please," said the condemned man, "kill me first."

Tortfeasor
(Fri Jun 06 1997 07:41)
Bonus joke
I'm think platinum might retract. Are anyof you going short on the possibility of a pullback in the market?

Here's a bonus joke I may have posted before but I thought it was amusing and reflects my thoughts on the subject matter.

Two men, sentenced to die in the electric chair on the same day,
were led down to the room in which they would their maker. The
priest had given them last rites, the formal speech had been
given by the warden, and a final prayer had been said among the
participants. The warden, turning to the first man, solemnly
asked, "Son, do you have a last request?"

To which the man replied, "Yes sir, I do. I love dance music.
Could you please play the Macarena for me one last time?"

"Certainly," replied the warden. He turned to the other man and
asked, "Well, what about you, son? What is your final request?"

"Please," said the condemned man, "kill me first."

Tortfeasor
(Fri Jun 06 1997 07:44)
mhurst@ix.netcom.com
Panda, this market is so fascinating that I am tempted to stay home today to see what happens. Most excitement I've had before this I spent the night in the emergency room. I'm thinking gold and silver up big time today and platinum maybe a pullback due to its meteoric rise the last couple of days.

Tortfeasor
(Fri Jun 06 1997 07:44)
mhurst@ix.netcom.com
Panda, this market is so fascinating that I am tempted to stay home today to see what happens. Most excitement I've had before this I spent the night in the emergency room. I'm thinking gold and silver up big time today and platinum maybe a pullback due to its meteoric rise the last couple of days.

panda
(Fri Jun 06 1997 07:48)
@
Tortfeasor -- LOOK at my 7:06 and 7:10 posts, if you still want to go short..... People are scrambling to get supplies. I heard a news story on the radio early this A.M. Workers at the GM catalytic assembly plant my go on strike next week. Haven't heard the story again in the last two hours, but what a 'coincidence', eh? This stuff is getting very strange! Be careful out there folks! Remember the rumors of defaults out there also. Fact and fiction are getting hard to separate.....

panda
(Fri Jun 06 1997 07:48)
@
Tortfeasor -- LOOK at my 7:06 and 7:10 posts, if you still want to go short..... People are scrambling to get supplies. I heard a news story on the radio early this A.M. Workers at the GM catalytic assembly plant my go on strike next week. Haven't heard the story again in the last two hours, but what a 'coincidence', eh? This stuff is getting very strange! Be careful out there folks! Remember the rumors of defaults out there also. Fact and fiction are getting hard to separate.....

POLARBEAR
(Fri Jun 06 1997 07:50)
hillb@kdn0.attnet.or.jp
Ok, its Friday night here in Japan, so I can stay up all night watching the action. Let's hope that all this attention to the rare one gets the other two moving as well.


POLARBEAR
(Fri Jun 06 1997 07:50)
hillb@kdn0.attnet.or.jp
Ok, its Friday night here in Japan, so I can stay up all night watching the action. Let's hope that all this attention to the rare one gets the other two moving as well.


panda
(Fri Jun 06 1997 07:52)
@info
Tortfeasor -- For your review, the platinum contract, notice the daily limit and how it can change. If we go limit up today, Modays' new limit is $50.

http://www.nymex.com/contract/plat.html

panda
(Fri Jun 06 1997 07:52)
@info
Tortfeasor -- For your review, the platinum contract, notice the daily limit and how it can change. If we go limit up today, Modays' new limit is $50.

http://www.nymex.com/contract/plat.html

Mike Sheller
(Fri Jun 06 1997 07:56)
Anecdotal Alert
Just to take a breather from Platinum & Palladium for a moment, my New York Stock Exchange Balcony Indicator has just flashed a cautionary signal for the stock market. The indicator works like this: In case you've never noticed ( in which case, where you been? ) when they do the closing prices on the business news on TV ( CNBC a perfect way to follow the indicator ) they invariably show somebody coming out on the balcony of the NYSE to gavel the proceedings to a halt for the day. When the market is down , or has been recently traumatized, the balcony is empty save for that lone official who appears momentarily, bangs the gavel, then quickly departs. Nobody wants to be associated with a losing string. When the market has had a good rise, or sets a record, more and more people join the official gavel-banger on that balcony. Everyone wants to be, or look like, or be associated with, a winner. This morning I counted 5 or 6 people on the balcony, all waving and smiling and looking like they didn't want to leave. This indicator is generally "overbought" when the balcony looks a lot like a New York City subway car at 5:30 pm. If the long bond can bust thru 113, there could be more to go on the upside for stocks. But the balcony is flashing a warning that it may only be a matter of weeks before some unsettling volatility emerges to begin defining the pattern that will top this market out. Granted this indicator is not as much fun as watching for extraordinarily short hemlines on ladies's skirts for a top, but as a leadsing indicator it does the anecdotal job nicely enuf.

Mike Sheller
(Fri Jun 06 1997 07:56)
Anecdotal Alert
Just to take a breather from Platinum & Palladium for a moment, my New York Stock Exchange Balcony Indicator has just flashed a cautionary signal for the stock market. The indicator works like this: In case you've never noticed ( in which case, where you been? ) when they do the closing prices on the business news on TV ( CNBC a perfect way to follow the indicator ) they invariably show somebody coming out on the balcony of the NYSE to gavel the proceedings to a halt for the day. When the market is down , or has been recently traumatized, the balcony is empty save for that lone official who appears momentarily, bangs the gavel, then quickly departs. Nobody wants to be associated with a losing string. When the market has had a good rise, or sets a record, more and more people join the official gavel-banger on that balcony. Everyone wants to be, or look like, or be associated with, a winner. This morning I counted 5 or 6 people on the balcony, all waving and smiling and looking like they didn't want to leave. This indicator is generally "overbought" when the balcony looks a lot like a New York City subway car at 5:30 pm. If the long bond can bust thru 113, there could be more to go on the upside for stocks. But the balcony is flashing a warning that it may only be a matter of weeks before some unsettling volatility emerges to begin defining the pattern that will top this market out. Granted this indicator is not as much fun as watching for extraordinarily short hemlines on ladies's skirts for a top, but as a leadsing indicator it does the anecdotal job nicely enuf.

News you can Use
(Fri Jun 06 1997 07:59)
Tokyo frm the Kitco news link
Platinum hits $500 on panicky buy

By Rieko Suda, with a contribution from Polly Yam in Hong Kong, Bridge News

( Financial summary table )

By Bridge News

Tokyo--Jun 6--Spot platinum prices hit US $500.00 per ounce today in Asia's continued panicky trading on supply concerns in the physical
market, Asian traders said.

"This is crazy," a Japanese dealer said. "One Japanese trader raised his offer first in the morning to $500 and others followed suit."

This led to panicky buying by Japanese traders who raised their price indications further in limited trading to the day's high of $500 bids, which
immediately met a bout of selling by Asian traders, they said.

But the selling pressured spot platinum prices, quoted at $470.00- 500.00 in late Asian trading, leading the market to become quiet again, the
dealers said.

"There was a lot of buying but few selling," one Hong Kong dealer said.

In the physical market, a major Japanese refiner was offering above 2,000 yen per gram, compared with the nearby contract settlement on the
Tokyo Commodity Exchange of 1,660 yen per gram, up 76 yen from Thursday.

"TOCOM ( Jun platinum ) is still cheaper than spot prices," another Japanese dealer said. "But it should rise further to catch up with ( spot prices ) as
the expiry date approaches." TOCOM Jun platinum expires on Jun 25.

The Asian dealers were reluctant to make price directions for platinum.

Spot palladium prices also rose today in Asia, following platinum, but trading was less active, the dealers said.

Meanwhile, spot gold prices were slightly firmer, supported by platinum's strength, while trading was light, the dealers said. They said light buying
from European dealers firmed spot gold prices.

"Gold doesn't have anything to offer ( as its own price factors ) to the market," a dealer said.

The dealers expect spot gold price will be supported at $340.50 later today in the overseas markets, with resistance at $347.00.

News you can Use
(Fri Jun 06 1997 07:59)
Tokyo frm the Kitco news link
Platinum hits $500 on panicky buy

By Rieko Suda, with a contribution from Polly Yam in Hong Kong, Bridge News

( Financial summary table )

By Bridge News

Tokyo--Jun 6--Spot platinum prices hit US $500.00 per ounce today in Asia's continued panicky trading on supply concerns in the physical
market, Asian traders said.

"This is crazy," a Japanese dealer said. "One Japanese trader raised his offer first in the morning to $500 and others followed suit."

This led to panicky buying by Japanese traders who raised their price indications further in limited trading to the day's high of $500 bids, which
immediately met a bout of selling by Asian traders, they said.

But the selling pressured spot platinum prices, quoted at $470.00- 500.00 in late Asian trading, leading the market to become quiet again, the
dealers said.

"There was a lot of buying but few selling," one Hong Kong dealer said.

In the physical market, a major Japanese refiner was offering above 2,000 yen per gram, compared with the nearby contract settlement on the
Tokyo Commodity Exchange of 1,660 yen per gram, up 76 yen from Thursday.

"TOCOM ( Jun platinum ) is still cheaper than spot prices," another Japanese dealer said. "But it should rise further to catch up with ( spot prices ) as
the expiry date approaches." TOCOM Jun platinum expires on Jun 25.

The Asian dealers were reluctant to make price directions for platinum.

Spot palladium prices also rose today in Asia, following platinum, but trading was less active, the dealers said.

Meanwhile, spot gold prices were slightly firmer, supported by platinum's strength, while trading was light, the dealers said. They said light buying
from European dealers firmed spot gold prices.

"Gold doesn't have anything to offer ( as its own price factors ) to the market," a dealer said.

The dealers expect spot gold price will be supported at $340.50 later today in the overseas markets, with resistance at $347.00.

panda
(Fri Jun 06 1997 08:01)
@
Mike Sheller -- Non Farm Payrolls is out this morning at 8:30. Any surprises here will rock'n roll the equities and bonds. Imagine if the report is on the high side, but I'm sure the guys at labor did a good number on the numbers. :- )

panda
(Fri Jun 06 1997 08:01)
@
Mike Sheller -- Non Farm Payrolls is out this morning at 8:30. Any surprises here will rock'n roll the equities and bonds. Imagine if the report is on the high side, but I'm sure the guys at labor did a good number on the numbers. :- )

Tortfeasor
(Fri Jun 06 1997 08:02)
mhurst@ix.netcom.com
Ted, shoot the blackbird overhead with the band on its foot. I don't think I am going to short any of the metals today Panda after your comment. Thanks.

Tortfeasor
(Fri Jun 06 1997 08:02)
mhurst@ix.netcom.com
Ted, shoot the blackbird overhead with the band on its foot. I don't think I am going to short any of the metals today Panda after your comment. Thanks.

Uris
(Fri Jun 06 1997 08:05)
@DFW Airport
Tort: Upon announcing to my dear wife of 36 years that I plan to
retire at the end of this year, her reply was:

"I married you for better or for worse, but not for lunch"

Uris
(Fri Jun 06 1997 08:05)
@DFW Airport
Tort: Upon announcing to my dear wife of 36 years that I plan to
retire at the end of this year, her reply was:

"I married you for better or for worse, but not for lunch"

Steve (Perth - Western Australia)
(Fri Jun 06 1997 08:15)
steve@compsb.eepo.com.au
6pak: THANK YOU for the excellent MAI links. Marvellous what gems you find on this site. Keep it up! Have been aware of MAI now for 6 months. It is diabolical! Everyone should study it in detail. The rest of you, stop this pre-market foreplay!!! It is too exciting!

panda
(Fri Jun 06 1997 08:15)
@
Tortfeasor -- I'm not saying that I'm right or wrong, just that these are very thin markets. If some are of the mind that gold is being manipulated, then what about markets that are a fraction the size of the gold markets? Don't take what I'm saying the wrong way. It's just that I get very 'cautious' when things like this 'happen'. When I see headlines from Dow Jones saying that the forward markets have 'collapsed', I would rather err on the side of caution than profit. If it sounds like I've lost money once or twice, you're right. It's always nice to be on the right side of a big move in a market, but.... if you're not, and you get 'locked in'. OUCH! Very high risk.

panda
(Fri Jun 06 1997 08:15)
@
Tortfeasor -- I'm not saying that I'm right or wrong, just that these are very thin markets. If some are of the mind that gold is being manipulated, then what about markets that are a fraction the size of the gold markets? Don't take what I'm saying the wrong way. It's just that I get very 'cautious' when things like this 'happen'. When I see headlines from Dow Jones saying that the forward markets have 'collapsed', I would rather err on the side of caution than profit. If it sounds like I've lost money once or twice, you're right. It's always nice to be on the right side of a big move in a market, but.... if you're not, and you get 'locked in'. OUCH! Very high risk.

Steve (Perth - Western Australia)
(Fri Jun 06 1997 08:15)
steve@compsb.eepo.com.au
6pak: THANK YOU for the excellent MAI links. Marvellous what gems you find on this site. Keep it up! Have been aware of MAI now for 6 months. It is diabolical! Everyone should study it in detail. The rest of you, stop this pre-market foreplay!!! It is too exciting!

TED
(Fri Jun 06 1997 08:17)
@capebreton
Mornin Tort,Panda,Mike Sheller and all the rest of you bugs...Can feel the energy level risin on Kitco...EBN Gold up .55 and Silver up 8 cents..
15 minutes to the "big one"...the EMPLOYMENT REPORT...the estimate is fer 233,000 jobs to have been created...

TED
(Fri Jun 06 1997 08:17)
@capebreton
Mornin Tort,Panda,Mike Sheller and all the rest of you bugs...Can feel the energy level risin on Kitco...EBN Gold up .55 and Silver up 8 cents..
15 minutes to the "big one"...the EMPLOYMENT REPORT...the estimate is fer 233,000 jobs to have been created...

panda
(Fri Jun 06 1997 08:19)
@coincidence?
GM strike at catalytic converter plant???

http://www.yahoo.com/headlines/970606/business/stories/gm_

panda
(Fri Jun 06 1997 08:19)
@coincidence?
GM strike at catalytic converter plant???

http://www.yahoo.com/headlines/970606/business/stories/gm_

panda
(Fri Jun 06 1997 08:21)
@??
More confusion from Russia;

http://biz.yahoo.com/finance/97/06/06/y0023_z00_17.html

panda
(Fri Jun 06 1997 08:21)
@??
More confusion from Russia;

http://biz.yahoo.com/finance/97/06/06/y0023_z00_17.html

panda
(Fri Jun 06 1997 08:22)
@
Good Morning TED! Now how do I cover myself both ways and make a killing in the process? ;- ) )

panda
(Fri Jun 06 1997 08:22)
@
Good Morning TED! Now how do I cover myself both ways and make a killing in the process? ;- ) )

TED
(Fri Jun 06 1997 08:25)
@tort
Tort: yer missile just landed and just remember it's all in the stars....and dart board...40 degrees and drizzlin here....but it's dry heat...

TED
(Fri Jun 06 1997 08:25)
@tort
Tort: yer missile just landed and just remember it's all in the stars....and dart board...40 degrees and drizzlin here....but it's dry heat...

TED
(Fri Jun 06 1997 08:28)
@capebreton
Panda: Take 100 sleepin pills and pull up the blankets...confusion in Russia...how unusual!

TED
(Fri Jun 06 1997 08:28)
@capebreton
Panda: Take 100 sleepin pills and pull up the blankets...confusion in Russia...how unusual!

panda
(Fri Jun 06 1997 08:30)
@comment
"The market has an almost infinite amount of money compared to me." Therefore, the market is always right.....

panda
(Fri Jun 06 1997 08:30)
@comment
"The market has an almost infinite amount of money compared to me." Therefore, the market is always right.....

panda
(Fri Jun 06 1997 08:32)
@
TED -- on my third cup of coffee since 5:30, sleeping pills won't work anymore! :- ) )

panda
(Fri Jun 06 1997 08:32)
@
TED -- on my third cup of coffee since 5:30, sleeping pills won't work anymore! :- ) )

TED
(Fri Jun 06 1997 08:33)
@employmentreport
EMPLOYMENT REPORT: Rate=4.8% and 138,000 jobs created BUT April revised UP to 323,000 from 242,000...S+P futures turned around and is PLUNGIN...
down 3.90

TED
(Fri Jun 06 1997 08:33)
@employmentreport
EMPLOYMENT REPORT: Rate=4.8% and 138,000 jobs created BUT April revised UP to 323,000 from 242,000...S+P futures turned around and is PLUNGIN...
down 3.90

panda
(Fri Jun 06 1997 08:35)
@
TED -- As homer would say, DOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

Rock'n Roll time!

panda
(Fri Jun 06 1997 08:35)
@
TED -- As homer would say, DOOOOOOOOOOOOOOOOOOOOOOOOOOOO!

Rock'n Roll time!

RJ
(Fri Jun 06 1997 08:36)
rjd@pacbell.net
The temptation to short platinum or palladium is not unlike the first time as children we all reached out to touch the hot stove, the results are still the same. look for reasonable dips to buy, ride the snake.

TED
(Fri Jun 06 1997 08:36)
@employmentreport
Bonds down half a point....Panda: are ya shakin yet??...now down 11 ticks

TED
(Fri Jun 06 1997 08:36)
@employmentreport
Bonds down half a point....Panda: are ya shakin yet??...now down 11 ticks

RJ
(Fri Jun 06 1997 08:36)
rjd@pacbell.net
The temptation to short platinum or palladium is not unlike the first time as children we all reached out to touch the hot stove, the results are still the same. look for reasonable dips to buy, ride the snake.

TED
(Fri Jun 06 1997 08:39)
@mornincoffee
S+P futures down 2.0 ...make that .60...folks we have FAST market conditions...now down 1.50....make up yer damn mind Mr.S+P!

TED
(Fri Jun 06 1997 08:39)
@mornincoffee
S+P futures down 2.0 ...make that .60...folks we have FAST market conditions...now down 1.50....make up yer damn mind Mr.S+P!

panda
(Fri Jun 06 1997 08:41)
@
TED -- Need MORE JAVA! Bondo's oscillating, Spoo's going loopy, up, down, and all around.. Come to think of it, I must be oscillating! BBL.

panda
(Fri Jun 06 1997 08:41)
@
TED -- Need MORE JAVA! Bondo's oscillating, Spoo's going loopy, up, down, and all around.. Come to think of it, I must be oscillating! BBL.

Scott
(Fri Jun 06 1997 08:42)
...!!!
Can anyone give me a link to online qutoes you are quoting ?

pls pls pls ..... ;-|

Scott
(Fri Jun 06 1997 08:42)
...!!!
Can anyone give me a link to online qutoes you are quoting ?

pls pls pls ..... ;-|

TED
(Fri Jun 06 1997 08:43)
@goldandsilver
Initial reaction is UP! EBN Gold up .70 and Silver up 12 cents...

TED
(Fri Jun 06 1997 08:43)
@goldandsilver
Initial reaction is UP! EBN Gold up .70 and Silver up 12 cents...

TED
(Fri Jun 06 1997 08:47)
@fouthcup
Panda: I hear ya bro...Iez shakin so bad the puter is rattlin+rollin..
hard to hit the right key...S+P futures DOWN 3.60...

TED
(Fri Jun 06 1997 08:47)
@fouthcup
Panda: I hear ya bro...Iez shakin so bad the puter is rattlin+rollin..
hard to hit the right key...S+P futures DOWN 3.60...

Auric
(Fri Jun 06 1997 08:48)
@Wake up, gold!

Panda: May I recommend chocolate covered esspresso
beans. Will have you buzzing like Platinum!

Auric
(Fri Jun 06 1997 08:48)
@Wake up, gold!

Panda: May I recommend chocolate covered esspresso
beans. Will have you buzzing like Platinum!

Scott
(Fri Jun 06 1997 08:52)
.
Any kind person out there got a live gold spot price site for me to cry over!

thanking ya

Scott
(Fri Jun 06 1997 08:52)
.
Any kind person out there got a live gold spot price site for me to cry over!

thanking ya

Eldorado
(Fri Jun 06 1997 08:54)
@the market
You all don't really expect that unemployment report to have an affect on gold, do you? So far, it's been flatter than a run-over worm!

Eldorado
(Fri Jun 06 1997 08:54)
@the market
You all don't really expect that unemployment report to have an affect on gold, do you? So far, it's been flatter than a run-over worm!

Eldorado
(Fri Jun 06 1997 09:04)
@the scene
Scott -- The web resource link button has a DGSE site listed. I believe that is what you are looking for.

junior
(Fri Jun 06 1997 09:04)
reality check
I want to believe that this is the real thing too. I will be a believer when I see CDE & SSC going up . I will believe if XAU and gold shares have a good day. ( highs above 106 on XAU ) I will believe when the premiums on metals options are much higher. Until then, This is a trading rally. What is in place so far is that bonds and S & P probably are starting new moves down.

junior
(Fri Jun 06 1997 09:04)
reality check
I want to believe that this is the real thing too. I will be a believer when I see CDE & SSC going up . I will believe if XAU and gold shares have a good day. ( highs above 106 on XAU ) I will believe when the premiums on metals options are much higher. Until then, This is a trading rally. What is in place so far is that bonds and S & P probably are starting new moves down.

Eldorado
(Fri Jun 06 1997 09:04)
@the scene
Scott -- The web resource link button has a DGSE site listed. I believe that is what you are looking for.

TED
(Fri Jun 06 1997 09:12)
@capebreton
EBN Gold up only .30 and Silver up 7 cents...No of course the measly employment report could never have an effect on Gold...

TED
(Fri Jun 06 1997 09:12)
@capebreton
EBN Gold up only .30 and Silver up 7 cents...No of course the measly employment report could never have an effect on Gold...

John Disney
(Fri Jun 06 1997 09:15)
jdisney@iafrica.com
For Aly
I dont know when merger takes place either. There must be shareholders meetings first to ratify the agreement I suppose.

John Disney
(Fri Jun 06 1997 09:15)
jdisney@iafrica.com
For Aly
I dont know when merger takes place either. There must be shareholders meetings first to ratify the agreement I suppose.

Lan Man
(Fri Jun 06 1997 09:24)
Admin What?
Most interesting that the news wires always use the phrase "Administrative Difficulties" when writing about Russian delays in metal shipments. Yea, like in "Administrative difficulties in paying the miners their back wages so the miners are having Administrative Difficulties in digging out any more metal".

FYI: Put in a limit order 2 days ago for PAASF @ 6.75, of course that order created a floor for the stock as well as silver, this has happened 2 times times this year, did catch 2 other moves though. I find that PAASF is a great indicator for the future price of silver.

JDisney: Thank you for keeping us all up-to-date on the happenings of DB-Deep/Blydy merger. Put in a limit order for BLYDY this a.m. @ 2.5625, lets see if that order does the same thing for the stock as well as the gold price in dollars!

Lan Man
(Fri Jun 06 1997 09:24)
Admin What?
Most interesting that the news wires always use the phrase "Administrative Difficulties" when writing about Russian delays in metal shipments. Yea, like in "Administrative difficulties in paying the miners their back wages so the miners are having Administrative Difficulties in digging out any more metal".

FYI: Put in a limit order 2 days ago for PAASF @ 6.75, of course that order created a floor for the stock as well as silver, this has happened 2 times times this year, did catch 2 other moves though. I find that PAASF is a great indicator for the future price of silver.

JDisney: Thank you for keeping us all up-to-date on the happenings of DB-Deep/Blydy merger. Put in a limit order for BLYDY this a.m. @ 2.5625, lets see if that order does the same thing for the stock as well as the gold price in dollars!

Scott
(Fri Jun 06 1997 09:25)
@Brisbane,Australia
Thanks : Eldorado

Tried your site is just what the doctor orderd!

Scott
(Fri Jun 06 1997 09:25)
@Brisbane,Australia
Thanks : Eldorado

Tried your site is just what the doctor orderd!

Scott
(Fri Jun 06 1997 09:37)
@home
XAU UP 1.02 ALREADY !!!!!!!!!!!!!!!!!!!!!! WOW

its going to be a good day

Scott
(Fri Jun 06 1997 09:37)
@home
XAU UP 1.02 ALREADY !!!!!!!!!!!!!!!!!!!!!! WOW

its going to be a good day

Roebear
(Fri Jun 06 1997 09:39)
@Cometcoaster
Gold spot 346.20 at 9:36 AM EDT USA today, why no ( or is it HI HO SILVER AWAY ) silver spot. Geez, all this excitement and I'm up to my ears in work, oh well there's always work!

Roebear
(Fri Jun 06 1997 09:39)
@Cometcoaster
Gold spot 346.20 at 9:36 AM EDT USA today, why no ( or is it HI HO SILVER AWAY ) silver spot. Geez, all this excitement and I'm up to my ears in work, oh well there's always work!

Front
(Fri Jun 06 1997 09:40)
@upandatum

Mooney:

Last night I didn't get a chance to reply to your post:

"Date: Thu Jun 05 1997 23:43
Mooney ( @.Ted ) :

Can't even wait for reply! It was our 25th anniversary on June 3rd and the wife is yelling for me to come upstairs. Some things are more important than talking to my hockey buddies! :- ) "

I'm not sure, but I think I know what you did when you got called upstairs. I was celebrating the same thing on May 20 but when my wife yelled at me it was to come and help wash the dishes. Same at your house? I'm the BOSS at my house and my wife gives me full permission to say so!


TARNISHED: So if he was born in BC, that doesn't mean he calls it HOME. Ask him where he's from and he'll say OTTAWA ( actually Nepean, a suburb of Ottawa ) , cause that's where he grew up, went to school, played minor hockey and where his parents still live. He even has a summer hockey school here and comes "back home" every summer. I'll bet he hasn't seen BC except to play a one nighter there since he was 2. Tryin' to steal a guys hero/star is "hangin' talk" around these parts !!!! ( :- ) )

EARL: You are forgiven my son .... with Mooney leading you astray, you are absolved of any wrong-doing automatically. BTW, someone mentioned the other day about Labatt's beer in the states being sooooo good. BS. The real thing from Canada is 5% , the states stuff is less %. You pay more and get less! Now THAT's what I call a benefit of FREE-TRADE !!!!

Oh yea, that's liquid GOLD ! .....

TTFN

Roebear
(Fri Jun 06 1997 09:40)
@HersheyComet
Bart You are quick!

Roebear
(Fri Jun 06 1997 09:40)
@HersheyComet
Bart You are quick!

Front
(Fri Jun 06 1997 09:40)
@upandatum

Mooney:

Last night I didn't get a chance to reply to your post:

"Date: Thu Jun 05 1997 23:43
Mooney ( @.Ted ) :

Can't even wait for reply! It was our 25th anniversary on June 3rd and the wife is yelling for me to come upstairs. Some things are more important than talking to my hockey buddies! :- ) "

I'm not sure, but I think I know what you did when you got called upstairs. I was celebrating the same thing on May 20 but when my wife yelled at me it was to come and help wash the dishes. Same at your house? I'm the BOSS at my house and my wife gives me full permission to say so!


TARNISHED: So if he was born in BC, that doesn't mean he calls it HOME. Ask him where he's from and he'll say OTTAWA ( actually Nepean, a suburb of Ottawa ) , cause that's where he grew up, went to school, played minor hockey and where his parents still live. He even has a summer hockey school here and comes "back home" every summer. I'll bet he hasn't seen BC except to play a one nighter there since he was 2. Tryin' to steal a guys hero/star is "hangin' talk" around these parts !!!! ( :- ) )

EARL: You are forgiven my son .... with Mooney leading you astray, you are absolved of any wrong-doing automatically. BTW, someone mentioned the other day about Labatt's beer in the states being sooooo good. BS. The real thing from Canada is 5% , the states stuff is less %. You pay more and get less! Now THAT's what I call a benefit of FREE-TRADE !!!!

Oh yea, that's liquid GOLD ! .....

TTFN

Lan Man
(Fri Jun 06 1997 09:46)
Ahh, Just Round Up!
Ted ie Unemployment numbers: Revised upwards by 33% - pretty darn accurate numbers considering that they came from gov'ment bean counters! Wonder what would happen if we used the same math to figure out the taxes that the IRS says we owe on our "income" ( although my "income" is actually a trade of labor for pieces of paper ) ?

Lan Man
(Fri Jun 06 1997 09:46)
Ahh, Just Round Up!
Ted ie Unemployment numbers: Revised upwards by 33% - pretty darn accurate numbers considering that they came from gov'ment bean counters! Wonder what would happen if we used the same math to figure out the taxes that the IRS says we owe on our "income" ( although my "income" is actually a trade of labor for pieces of paper ) ?

TED
(Fri Jun 06 1997 10:07)
@lanman
Lan Man: Yeah, they were real close on that one...eh...

TED
(Fri Jun 06 1997 10:07)
@lanman
Lan Man: Yeah, they were real close on that one...eh...

TED
(Fri Jun 06 1997 10:12)
@NDPland
Front ( 9:40 ) Most Americans don't know there is differece between Canadian brewed in the states and in Canada cause most Americans know diddly about their neighbors...but they's still experts about beer..hahaha

TED
(Fri Jun 06 1997 10:12)
@NDPland
Front ( 9:40 ) Most Americans don't know there is differece between Canadian brewed in the states and in Canada cause most Americans know diddly about their neighbors...but they's still experts about beer..hahaha

Front
(Fri Jun 06 1997 10:17)
@upandatum

TED:

Unfortunately Ted, you may be correct. Every time we go to a bar in the states, we ask for water. It's usually imported from Canada ( purer or something ) and a lot stronger than any American beer. Whenever my friends come here, they're always smuggling cases back for their friends. Never heard of any Americans smuggling US beer into Canada though !!

Oh yea, liquid gold !!!!

TTFN

Front
(Fri Jun 06 1997 10:17)
@upandatum

TED:

Unfortunately Ted, you may be correct. Every time we go to a bar in the states, we ask for water. It's usually imported from Canada ( purer or something ) and a lot stronger than any American beer. Whenever my friends come here, they're always smuggling cases back for their friends. Never heard of any Americans smuggling US beer into Canada though !!

Oh yea, liquid gold !!!!

TTFN

TED
(Fri Jun 06 1997 10:18)
@NDPland
Mooney: When are ya goin to get a hockey prediction right???..and you never answered the question about who is goin to win the Calder Cup between Hersey and the Hamilton Bull dogs...Front: Thanks fer puttin Tarnished in his place...he haw...XAU up .99...

POLARBEAR
(Fri Jun 06 1997 10:18)
naval intelligence center
RANDGOLD Resources, the offshore arm of Randgold & Exploration, intends to raise between $120m and $160m to fund gold expansion projects when it lists on the London Stock Exchange later this month.

http://www.bday.co.za/97/0606/news/news4.htm


POLARBEAR
(Fri Jun 06 1997 10:18)
naval intelligence center
RANDGOLD Resources, the offshore arm of Randgold & Exploration, intends to raise between $120m and $160m to fund gold expansion projects when it lists on the London Stock Exchange later this month.

http://www.bday.co.za/97/0606/news/news4.htm


TED
(Fri Jun 06 1997 10:18)
@NDPland
Mooney: When are ya goin to get a hockey prediction right???..and you never answered the question about who is goin to win the Calder Cup between Hersey and the Hamilton Bull dogs...Front: Thanks fer puttin Tarnished in his place...he haw...XAU up .99...

Bob A
(Fri Jun 06 1997 10:19)
dead
SWC up a bit PDLCF off a bit,still very disapointing.

Bob A
(Fri Jun 06 1997 10:19)
dead
SWC up a bit PDLCF off a bit,still very disapointing.

bw
(Fri Jun 06 1997 10:23)
Time to buy physicals:
While we all contemplate the fortunes we will make in futures, perhaps it is a good time to buy a few rolls of physical silver eagles. They are dirt cheap, its leverage you can live with, they never mature and once in hand you do not have to worry about anyone defaulting.

bw
(Fri Jun 06 1997 10:23)
Time to buy physicals:
While we all contemplate the fortunes we will make in futures, perhaps it is a good time to buy a few rolls of physical silver eagles. They are dirt cheap, its leverage you can live with, they never mature and once in hand you do not have to worry about anyone defaulting.

Mooney
(Fri Jun 06 1997 10:40)
moonstep@idirect.com
Ted - I KNOW your hurt AND that you're joking with me. I would have been happy to see N.Y. win also, but it just wasn't in the cards this year. BTW - I freely admit that I know squat about the difference between the Bull and the chocolate!

vronsky
(Fri Jun 06 1997 10:40)
PLATINUM STOCKS SOARING
South African stocks Jump with Soaring Platinum Metal Prices. Review study: "PLATINUM: The Rich Man's Gold," & charts of Impala & Rustenburg stocks - also Stillwater Mining at:
http://www.gold-eagle.com/analysis.html

vronsky
(Fri Jun 06 1997 10:40)
PLATINUM STOCKS SOARING
South African stocks Jump with Soaring Platinum Metal Prices. Review study: "PLATINUM: The Rich Man's Gold," & charts of Impala & Rustenburg stocks - also Stillwater Mining at:
http://www.gold-eagle.com/analysis.html

Mooney
(Fri Jun 06 1997 10:40)
moonstep@idirect.com
Ted - I KNOW your hurt AND that you're joking with me. I would have been happy to see N.Y. win also, but it just wasn't in the cards this year. BTW - I freely admit that I know squat about the difference between the Bull and the chocolate!

Mooney
(Fri Jun 06 1997 10:46)
moonstep@idirect.com
RJ - Welcome aboard! Really appreciate your joining us, seriously so don't take my comment the wrong way, but considering that Platinum had been surging for the last few days, ( to approximately, somewhere, maybe, around $430 yesterday ) , do you really think that you were making a bold prediction last night at 23:36 when you told us that: "South Africa can
smell the money and they will come out to play soon. $450 in June.
Save this message and remember you were advised in advance."

Mooney
(Fri Jun 06 1997 10:46)
moonstep@idirect.com
RJ - Welcome aboard! Really appreciate your joining us, seriously so don't take my comment the wrong way, but considering that Platinum had been surging for the last few days, ( to approximately, somewhere, maybe, around $430 yesterday ) , do you really think that you were making a bold prediction last night at 23:36 when you told us that: "South Africa can
smell the money and they will come out to play soon. $450 in June.
Save this message and remember you were advised in advance."

Gene
(Fri Jun 06 1997 10:47)
@reality
Does anyone think that gold could follow platinum and palladium? Does anyone have certain knowledge of how much gold is stored in Government Vaults?

Gene
(Fri Jun 06 1997 10:47)
@reality
Does anyone think that gold could follow platinum and palladium? Does anyone have certain knowledge of how much gold is stored in Government Vaults?

Mooney
(Fri Jun 06 1997 10:58)
moonstep@idirect.com
Gene - The move in Platinum has been so spectacular tha I would not say that YES, it does appear that this will be the break that Gold needs to get out of the flat-line syndrome.
IN FACT - I WOULD SAY THAT RIGHT NOW IS THE TURNING POINT! WE SEEM TO BE HEADED UP AS WE SPEAK! ( Soon might have to post the Louis 16th comment ) .

Front - Same boat as me eh? Also - They never heard of the modern invention of automatic dishwashers in Calaboogie?

Mooney
(Fri Jun 06 1997 10:58)
moonstep@idirect.com
Gene - The move in Platinum has been so spectacular tha I would not say that YES, it does appear that this will be the break that Gold needs to get out of the flat-line syndrome.
IN FACT - I WOULD SAY THAT RIGHT NOW IS THE TURNING POINT! WE SEEM TO BE HEADED UP AS WE SPEAK! ( Soon might have to post the Louis 16th comment ) .

Front - Same boat as me eh? Also - They never heard of the modern invention of automatic dishwashers in Calaboogie?

JohnC
(Fri Jun 06 1997 10:59)
@Brisbane,Australia
Gene,
Wheat doubled last year,
Coffee doubled this year,
Palladium doubled,
Platinum + $50 in a few days,
Silver up, down, up,
But Gold... to answer your question,
No Never Nyet,
Gold is never going up,
A Bear market forever.
This time it's different... It can't recover. ( sic ) .

Happy Trading
John from Down Under



JohnC
(Fri Jun 06 1997 10:59)
@Brisbane,Australia
Gene,
Wheat doubled last year,
Coffee doubled this year,
Palladium doubled,
Platinum + $50 in a few days,
Silver up, down, up,
But Gold... to answer your question,
No Never Nyet,
Gold is never going up,
A Bear market forever.
This time it's different... It can't recover. ( sic ) .

Happy Trading
John from Down Under



cherokee
(Fri Jun 06 1997 11:19)
@sweat-lodge
what do you expect? ask your broker an honest question ( re:?dec'98 gold-370 strike ) and what do you get? a wrong answer.
the $60.00 price was wrong. after the eject button was hit
sending that e-message, i had a sinking feeling that there
was something smelly. it was 60 pts x 10.--- for $600.00 each!
listen to your broker and get burned every-time!
sorry for incorrect post on that price.

cherry-tree...er..cherokee....i think!; )


cherokee
(Fri Jun 06 1997 11:19)
@sweat-lodge
what do you expect? ask your broker an honest question ( re:?dec'98 gold-370 strike ) and what do you get? a wrong answer.
the $60.00 price was wrong. after the eject button was hit
sending that e-message, i had a sinking feeling that there
was something smelly. it was 60 pts x 10.--- for $600.00 each!
listen to your broker and get burned every-time!
sorry for incorrect post on that price.

cherry-tree...er..cherokee....i think!; )


vronsky
(Fri Jun 06 1997 11:24)
TED BUTLER LOGIC APPLIED to Platinum & Palladium
Following is the reality of what Ted Butler indicated in his letter to venerable Alan Greenspan and the illustrious Robert Rubin. Butlers astute call is beginning in the Platinum and Palladium markets - which historically have lead the rest of the precious metals markets. However, the Doubting Thomases will say, But world banks have 33,000 tonnes of gold that may be used to quell any rising wave of noble metal prices. IMO that is an illusory perception of reality. The Fed has NOT SOLD one ounce its gold hoard in over 20 years. It would be political suicide for the Fed to start divesting the nations gold stash as cyclic market forces begin to push all precious metals prices higher. Furthermore, any overt attempt by Central Banks to dump bullion on the market would be interpreted as inherent currency weakness of the selling country. This would only add fuel to the fire, causing the precious metals price rise to accelerate.

In light of the spectacular rise of Platinum and Palladium in recent days, and RELATED news out of Switzerland below, a review of Ted Butlers analysis would provide one with clear vision of what is to come. Ted Butlers brilliant analysis ( i.e. letter to Greenspan and Rubin ) may be seen in its entirety at:
http://www.gold-eagle.com/gold_digest/butler414.html

Friday June 6 3:34 AM EDT

Gold firms in early Europe, PGMs surge further

ZURICH, June 6 ( Reuter ) - Gold was only slightly firmer in early European trade on Friday, overshadowed by further spectacular gains in platinum group metals ( PGMs ) .

Palladium jumped to $235.00/$245.00 versus $205.00/$215.00. On Thursday in London it was fixed at $235.00 after hitting 17-year highs on the spot market.

Platinum meanwhile surged to $480.00/$500.00 versus $443.00/$444.00. Early on Friday in the Far East and Australia it touched levels as high as $500.

On a monthly chart, it was the highest level for platinum since August 1990 but one trader at a Swiss bank in the Far East said spreads were wide, and deals small.

We are seeing $30 spreads on very small deals, he said.

Late Thursday in London, Trevor Pitts, chairman of the London Platinum and Palladium Market Association said after a meeting of its 10 members, plus the three Zurich-based clearing members, that there had been no defaults in the market.

As business began in Zurich, traders said the market remained nervous.

There is simply no liquidity. Everybody is trying to buy, but no one can offer anything, said one trader.

The Swiss-based trader said also that the market remained nervous about the possibility of a default, despite Thursday's statement.

The whole trade is built on trust that someone can deliver. If one looks to see how much volume is traded, it is larger than the physical supply, he said, adding that under normal conditions this posed no problem.

But in the case of a possible default, he said the situation would be analogous to a run on the bank.

THE RUN ON THE PLATINUM & PALLADIUM "BANKS" WILL EVENTUALLY AND INEVITABLY SPILL OVER INTO THE GOLD AND SILVER "BANKS."

vronsky
(Fri Jun 06 1997 11:24)
TED BUTLER LOGIC APPLIED to Platinum & Palladium
Following is the reality of what Ted Butler indicated in his letter to venerable Alan Greenspan and the illustrious Robert Rubin. Butlers astute call is beginning in the Platinum and Palladium markets - which historically have lead the rest of the precious metals markets. However, the Doubting Thomases will say, But world banks have 33,000 tonnes of gold that may be used to quell any rising wave of noble metal prices. IMO that is an illusory perception of reality. The Fed has NOT SOLD one ounce its gold hoard in over 20 years. It would be political suicide for the Fed to start divesting the nations gold stash as cyclic market forces begin to push all precious metals prices higher. Furthermore, any overt attempt by Central Banks to dump bullion on the market would be interpreted as inherent currency weakness of the selling country. This would only add fuel to the fire, causing the precious metals price rise to accelerate.

In light of the spectacular rise of Platinum and Palladium in recent days, and RELATED news out of Switzerland below, a review of Ted Butlers analysis would provide one with clear vision of what is to come. Ted Butlers brilliant analysis ( i.e. letter to Greenspan and Rubin ) may be seen in its entirety at:
http://www.gold-eagle.com/gold_digest/butler414.html

Friday June 6 3:34 AM EDT

Gold firms in early Europe, PGMs surge further

ZURICH, June 6 ( Reuter ) - Gold was only slightly firmer in early European trade on Friday, overshadowed by further spectacular gains in platinum group metals ( PGMs ) .

Palladium jumped to $235.00/$245.00 versus $205.00/$215.00. On Thursday in London it was fixed at $235.00 after hitting 17-year highs on the spot market.

Platinum meanwhile surged to $480.00/$500.00 versus $443.00/$444.00. Early on Friday in the Far East and Australia it touched levels as high as $500.

On a monthly chart, it was the highest level for platinum since August 1990 but one trader at a Swiss bank in the Far East said spreads were wide, and deals small.

We are seeing $30 spreads on very small deals, he said.

Late Thursday in London, Trevor Pitts, chairman of the London Platinum and Palladium Market Association said after a meeting of its 10 members, plus the three Zurich-based clearing members, that there had been no defaults in the market.

As business began in Zurich, traders said the market remained nervous.

There is simply no liquidity. Everybody is trying to buy, but no one can offer anything, said one trader.

The Swiss-based trader said also that the market remained nervous about the possibility of a default, despite Thursday's statement.

The whole trade is built on trust that someone can deliver. If one looks to see how much volume is traded, it is larger than the physical supply, he said, adding that under normal conditions this posed no problem.

But in the case of a possible default, he said the situation would be analogous to a run on the bank.

THE RUN ON THE PLATINUM & PALLADIUM "BANKS" WILL EVENTUALLY AND INEVITABLY SPILL OVER INTO THE GOLD AND SILVER "BANKS."

Bob A
(Fri Jun 06 1997 11:26)
my opinion
South africa will never try to take undue advantage of the plat, pallad situation. They didn't do it back in late 79 early 80's and they won'd do it now. They don't want a substitute for PGM's.

Bob A
(Fri Jun 06 1997 11:26)
my opinion
South africa will never try to take undue advantage of the plat, pallad situation. They didn't do it back in late 79 early 80's and they won'd do it now. They don't want a substitute for PGM's.

bob
(Fri Jun 06 1997 11:28)
wow@holycow
You guys won't believe this: I told my 24 yr old broker that platinum traded at $500 in Tokyo trading. His response was, "whats platinum?"

bob
(Fri Jun 06 1997 11:28)
wow@holycow
You guys won't believe this: I told my 24 yr old broker that platinum traded at $500 in Tokyo trading. His response was, "whats platinum?"

DK
(Fri Jun 06 1997 11:41)
Plabug

I need long term charts on the PGM's. Does anyone have a site?

DK
(Fri Jun 06 1997 11:41)
Plabug

I need long term charts on the PGM's. Does anyone have a site?

Eldorado
(Fri Jun 06 1997 11:44)
@the market
The major August gold trend line resistance comes thru at 348.2. Therefore, I expect major selling should it get there. On the other hand, SHOULD it get above there, possibilities open up for the upside! Draw your own lines and see if they don't agree!

Eldorado
(Fri Jun 06 1997 11:44)
@the market
The major August gold trend line resistance comes thru at 348.2. Therefore, I expect major selling should it get there. On the other hand, SHOULD it get above there, possibilities open up for the upside! Draw your own lines and see if they don't agree!

bob
(Fri Jun 06 1997 11:46)
bob@bob
To All metals shorts:

SAVE YOURSELVES!!!!!!! I would sugest that you "sort of" extract yourselves from your PGM short positions by gong long the Gold and silver markets. BUT, make sure you do it before anyone else does.

Sooner or later love is going to get ya sooner or later love is goning to get you ; love is going to win.

Sleep tight and don't let those gold bugs bite.


bob
(Fri Jun 06 1997 11:46)
bob@bob
To All metals shorts:

SAVE YOURSELVES!!!!!!! I would sugest that you "sort of" extract yourselves from your PGM short positions by gong long the Gold and silver markets. BUT, make sure you do it before anyone else does.

Sooner or later love is going to get ya sooner or later love is goning to get you ; love is going to win.

Sleep tight and don't let those gold bugs bite.


MoreGold
(Fri Jun 06 1997 11:48)
@wet behind the ears
bob: Ask your 24 year old broker what a bear market is.
I bet you 10 shares of Bre-x that he doesn't know.
This is basically why stocks are still going up, and non
of the masses have caught on to Gold --- YET.

MoreGold
(Fri Jun 06 1997 11:48)
@wet behind the ears
bob: Ask your 24 year old broker what a bear market is.
I bet you 10 shares of Bre-x that he doesn't know.
This is basically why stocks are still going up, and non
of the masses have caught on to Gold --- YET.

vronsky
(Fri Jun 06 1997 11:52)
wow@holycow
Ref: I wonder how many people really know what qualifications a person is required to have in order to be licensed by the NASD as a BROKER? That is what training is necessary to "adequately" prepare a person to "MANAGE YOUR MONEY?" Well, it is pathetically little: a high school education, A One Month Training Course, and a qualifying multiple choice exam. About the exam: more than 75% deals with the Rules & Regulations of the NASD & SEC. ONLY ABOUT 10% DEALS WITH THE NITTY-GRITTY of what the investment markets are really all about.

Therefore, it does NOT SURPRISE ME IN THE LEAST, that the typical 24-YEAR OLD WALL STREET BROKER asks, "What is platinum?"!! I also wonder if the word "BROKER" has something to do with how many investors end up by listening to spiels of WAll Street?

vronsky
(Fri Jun 06 1997 11:52)
wow@holycow
Ref: I wonder how many people really know what qualifications a person is required to have in order to be licensed by the NASD as a BROKER? That is what training is necessary to "adequately" prepare a person to "MANAGE YOUR MONEY?" Well, it is pathetically little: a high school education, A One Month Training Course, and a qualifying multiple choice exam. About the exam: more than 75% deals with the Rules & Regulations of the NASD & SEC. ONLY ABOUT 10% DEALS WITH THE NITTY-GRITTY of what the investment markets are really all about.

Therefore, it does NOT SURPRISE ME IN THE LEAST, that the typical 24-YEAR OLD WALL STREET BROKER asks, "What is platinum?"!! I also wonder if the word "BROKER" has something to do with how many investors end up by listening to spiels of WAll Street?

Front
(Fri Jun 06 1997 11:54)
@upandatum

Anyone:

Just noticed that the XOI ( Oil index ) had jumped about 5.00 basis points in about 2 minutes. Since there could be pressure here helping Gold stuff, does anyone have anything about why the Oils exploded?

Mooney: Wanted to get one but she said if I did she'd have nothing to grouch about! Go figure you'd not spell the hometown right ( :- ) )

TTFN

Front
(Fri Jun 06 1997 11:54)
@upandatum

Anyone:

Just noticed that the XOI ( Oil index ) had jumped about 5.00 basis points in about 2 minutes. Since there could be pressure here helping Gold stuff, does anyone have anything about why the Oils exploded?

Mooney: Wanted to get one but she said if I did she'd have nothing to grouch about! Go figure you'd not spell the hometown right ( :- ) )

TTFN

Bob
(Fri Jun 06 1997 11:55)
@....another Bob ?!
Bob: We have an ad hoc protocal on Kitco. The first user of "Bob" gets to keep it until otherwise advised. As you may agree, it gets confusing when more than one personality uses the same posting name. Agree ?

Inflation obituary: http://www.yahoo.com/headlines/970606/business/stories/cpi_1.html

Cheers

Bob
(Fri Jun 06 1997 11:55)
@....another Bob ?!
Bob: We have an ad hoc protocal on Kitco. The first user of "Bob" gets to keep it until otherwise advised. As you may agree, it gets confusing when more than one personality uses the same posting name. Agree ?

Inflation obituary: http://www.yahoo.com/headlines/970606/business/stories/cpi_1.html

Cheers

oldhand
(Fri Jun 06 1997 11:56)
@cold fusion?
Could it be that the extraordinary strength in PGMs is cold fusion revisited? Just a thought. Comments?

oldhand
(Fri Jun 06 1997 11:56)
@cold fusion?
Could it be that the extraordinary strength in PGMs is cold fusion revisited? Just a thought. Comments?

John W.
(Fri Jun 06 1997 12:09)
silver options
Dear friends,
I'm looking to buy a silver futures option leap with a strike price around $7. Something like a Dec98 silver option, strike $7. Where can I get quotes on silver futures options this far out? What would the symbol be? And about how much would it cost?

My broker doesn't do futures options and he's the only broker I trust. So I want to make sure I know what I'm asking for before I ask a different broker.

Thanks

John W.
(Fri Jun 06 1997 12:09)
silver options
Dear friends,
I'm looking to buy a silver futures option leap with a strike price around $7. Something like a Dec98 silver option, strike $7. Where can I get quotes on silver futures options this far out? What would the symbol be? And about how much would it cost?

My broker doesn't do futures options and he's the only broker I trust. So I want to make sure I know what I'm asking for before I ask a different broker.

Thanks

Novice
(Fri Jun 06 1997 12:24)
@blow breezes blow..
SWC fans: A few ripples finally starting to appear over the surface of Stillwater...

Novice
(Fri Jun 06 1997 12:24)
@blow breezes blow..
SWC fans: A few ripples finally starting to appear over the surface of Stillwater...

Steve (Perth - Western Australia)
(Fri Jun 06 1997 12:28)
@burning Midnight Oil
Surely the Dow Jones Industrials Index is indicating MADNESS? How can the low employment figures be good? Surely it is a soon sign of wage inflation?, not profitability... DJIND 7405 a record??

``The bond market has decided that the employment data is positive,'' said Douglas Cliggott, U.S. equity strategist at JP Morgain. ``Bonds have surged in the last half hour or so and equities have followed right along in their path.'' The rebound in the Treasury bond market was also attributed to some short-covering. The Labor Department said the unemployment rate fell in May to 4.8 percent, but with ONLY 138,000 new jobs added. ( VERY LOW??!!! )

Steve (Perth - Western Australia)
(Fri Jun 06 1997 12:28)
@burning Midnight Oil
Surely the Dow Jones Industrials Index is indicating MADNESS? How can the low employment figures be good? Surely it is a soon sign of wage inflation?, not profitability... DJIND 7405 a record??

``The bond market has decided that the employment data is positive,'' said Douglas Cliggott, U.S. equity strategist at JP Morgain. ``Bonds have surged in the last half hour or so and equities have followed right along in their path.'' The rebound in the Treasury bond market was also attributed to some short-covering. The Labor Department said the unemployment rate fell in May to 4.8 percent, but with ONLY 138,000 new jobs added. ( VERY LOW??!!! )

Bob A
(Fri Jun 06 1997 12:34)
pgms
SWC finally moving up 9.9% pdlcf down on the day so far.

Bob A
(Fri Jun 06 1997 12:34)
pgms
SWC finally moving up 9.9% pdlcf down on the day so far.

JohnC
(Fri Jun 06 1997 12:40)
@Silver Options
John W
I hope the following site might help you in your search for SI option quotes.
http://www.cyberramp.net/~chrismc/tables/si.htm
The info is updated after the close of trading each day.

Trade options with care. If you buy options, you can lose ALL your premium plus your transaction costs. If you sell options, you can lose spectacular sums of money in hours.
But, as a speculative instrument, their "convexity" under fast moving markets often can double or triple their value in days. If you read through the postings, you will note that DA refers to this in relation to his Platinum option position.

Please be careful out there
JohnC Brisbane


JohnC
(Fri Jun 06 1997 12:40)
@Silver Options
John W
I hope the following site might help you in your search for SI option quotes.
http://www.cyberramp.net/~chrismc/tables/si.htm
The info is updated after the close of trading each day.

Trade options with care. If you buy options, you can lose ALL your premium plus your transaction costs. If you sell options, you can lose spectacular sums of money in hours.
But, as a speculative instrument, their "convexity" under fast moving markets often can double or triple their value in days. If you read through the postings, you will note that DA refers to this in relation to his Platinum option position.

Please be careful out there
JohnC Brisbane


D.A.
(Fri Jun 06 1997 12:46)
another.war
All:

I mentioned last night that the silver market was being bought heavily by some funds to the tune of around 30MM oz. Apparently there is a big OTC option struck at $5.00 which expires in a few days. The writers want to hold silver down and the buyers want to bid it up. After an early foray by the funds the writers have struck back. Will the funds try again? Will they be successful ?
Stay tuned, the battle has been joined.

D.A.
(Fri Jun 06 1997 12:46)
another.war
All:

I mentioned last night that the silver market was being bought heavily by some funds to the tune of around 30MM oz. Apparently there is a big OTC option struck at $5.00 which expires in a few days. The writers want to hold silver down and the buyers want to bid it up. After an early foray by the funds the writers have struck back. Will the funds try again? Will they be successful ?
Stay tuned, the battle has been joined.

bw
(Fri Jun 06 1997 12:56)
A conversation with Boskin:
Mr. Boskin I would like to extend your famous steak argument on the cpi overstating inflation. "Very well." You state that if steak becomes too expensive consumers will switch to the less expensive chicken. "This is correct." Now what happens should chicken increase in price by say 10%? "Well I suppose they could switch to soybean meal." And should it rise in price also? "Bread?" And if the price of bread should rise? "Day old Bread?" Do you mean to tell me that consumers eating day old bread instead of steak will hold down inflation? "This is correct."

bw
(Fri Jun 06 1997 12:56)
A conversation with Boskin:
Mr. Boskin I would like to extend your famous steak argument on the cpi overstating inflation. "Very well." You state that if steak becomes too expensive consumers will switch to the less expensive chicken. "This is correct." Now what happens should chicken increase in price by say 10%? "Well I suppose they could switch to soybean meal." And should it rise in price also? "Bread?" And if the price of bread should rise? "Day old Bread?" Do you mean to tell me that consumers eating day old bread instead of steak will hold down inflation? "This is correct."

NAILZ
(Fri Jun 06 1997 12:57)
FOR JOHN W.
JOHN W.......Go to this site for silver options prices.....Use the phone #### at the site and call Bernie. Give him a chance to handle your purchase.... http://bohl.minot.com/

NAILZ
(Fri Jun 06 1997 12:57)
FOR JOHN W.
JOHN W.......Go to this site for silver options prices.....Use the phone #### at the site and call Bernie. Give him a chance to handle your purchase.... http://bohl.minot.com/

MR. BEAR
(Fri Jun 06 1997 12:59)
FOOLS GOLD
10 reasons why the barbaric metal is dead:
1. Unlimited supply because the stockpiles will never deplete.
2. CB'S supplies
3. No currency based on gold
4. Major retail buyers uneducated and poor ( asia,middle east )
5. Cannot rally with PGM'S
6. Governments want low price = low inflation
7. Bre-x and friends
8. arizona to produce gold from sand
9. No news moves gold price
10.Negitive perception ( hitler/jews, bre-x, dooms day investment, storage, lousy returns )

Can you think of any more reasons? I bet you can if you are honest and try real hard! Come on give it a try, you might like it. What do you have to lose? MONEY

panda
(Fri Jun 06 1997 12:59)
@
Front -- Just a thought, isn't platinum used in the oil indutry for catalytic reactions in the refining process? If there is a supply 'shortage' ( pt pa that is ) , oil production goes down, demand?? prices?? Sorry, there's that twilight zone thinking again....

panda
(Fri Jun 06 1997 12:59)
@
Front -- Just a thought, isn't platinum used in the oil indutry for catalytic reactions in the refining process? If there is a supply 'shortage' ( pt pa that is ) , oil production goes down, demand?? prices?? Sorry, there's that twilight zone thinking again....

MR. BEAR
(Fri Jun 06 1997 12:59)
FOOLS GOLD
10 reasons why the barbaric metal is dead:
1. Unlimited supply because the stockpiles will never deplete.
2. CB'S supplies
3. No currency based on gold
4. Major retail buyers uneducated and poor ( asia,middle east )
5. Cannot rally with PGM'S
6. Governments want low price = low inflation
7. Bre-x and friends
8. arizona to produce gold from sand
9. No news moves gold price
10.Negitive perception ( hitler/jews, bre-x, dooms day investment, storage, lousy returns )

Can you think of any more reasons? I bet you can if you are honest and try real hard! Come on give it a try, you might like it. What do you have to lose? MONEY

panda
(Fri Jun 06 1997 13:30)
@
Front -- Oil story;

http://biz.yahoo.com/finance/97/06/06/arc_chv_m_1.html

panda
(Fri Jun 06 1997 13:30)
@
Front -- Oil story;

http://biz.yahoo.com/finance/97/06/06/arc_chv_m_1.html

Mike Sheller
(Fri Jun 06 1997 13:37)
Miso for Lunch
bw: There was an old song/chant I heard when I was a kid - "You get no bread with one meatball." Re: Boskin - As I'm sure you already know, don't waste too much time betting your bread on what meatballs have to say.

Mike Sheller
(Fri Jun 06 1997 13:37)
Miso for Lunch
bw: There was an old song/chant I heard when I was a kid - "You get no bread with one meatball." Re: Boskin - As I'm sure you already know, don't waste too much time betting your bread on what meatballs have to say.

Mooney
(Fri Jun 06 1997 13:41)
moonstep@idirect.com
Panda, Front and ALL - Platinum is used as catalyst in many industrial processes. A MAJOR new one ( IMO ) coming on stream is in the manufacture of fuel cell technology such as that being developed by Ballard Power of Vancouver ( don't laugh - Mercedes Benz just bought up 25% of the company for 500 million ) . Recently I e-mailed a few friends that that stock is on the cutting edge and may be a good buy ( month and half ago ) at $35. Yesterday it closed at $42-5/8 ( I believe ) The reason I didn't mention it here was that it is not a mining co. but since Platinum is involved I guess it's O.K.!
Front - Sorry - was in a hurry and couldn't find my map! ( Also Sorry about the wife needing something to complain about - But I guess that is a round-about compliment from her as it indicates that you are perfect in every other way! )

Mike Sheller
(Fri Jun 06 1997 13:41)
la vida es suena
vronsky: I think las lagrimas del luna son ( how you say ) "welling up." Where is Bernatz now that I need him? Anyone short silver now is gonna be cryin' pretty soon.

Mike Sheller
(Fri Jun 06 1997 13:41)
la vida es suena
vronsky: I think las lagrimas del luna son ( how you say ) "welling up." Where is Bernatz now that I need him? Anyone short silver now is gonna be cryin' pretty soon.

Mooney
(Fri Jun 06 1997 13:41)
moonstep@idirect.com
Panda, Front and ALL - Platinum is used as catalyst in many industrial processes. A MAJOR new one ( IMO ) coming on stream is in the manufacture of fuel cell technology such as that being developed by Ballard Power of Vancouver ( don't laugh - Mercedes Benz just bought up 25% of the company for 500 million ) . Recently I e-mailed a few friends that that stock is on the cutting edge and may be a good buy ( month and half ago ) at $35. Yesterday it closed at $42-5/8 ( I believe ) The reason I didn't mention it here was that it is not a mining co. but since Platinum is involved I guess it's O.K.!
Front - Sorry - was in a hurry and couldn't find my map! ( Also Sorry about the wife needing something to complain about - But I guess that is a round-about compliment from her as it indicates that you are perfect in every other way! )

nailz
(Fri Jun 06 1997 13:47)
GREAT LINKS
ALL....If any of you have not taken the opportunity to brouse the links page that Bart has set up, you should do so. It has some great sites..

nailz
(Fri Jun 06 1997 13:47)
GREAT LINKS
ALL....If any of you have not taken the opportunity to brouse the links page that Bart has set up, you should do so. It has some great sites..

newkid
(Fri Jun 06 1997 13:49)
ohio
to all
i've been reading your postings for sometime now ( including "Gold Eage" ) .
prior to Nixon getting us off the gold standard, if one wanted gold, one needed to exchange it for his labor or real goods. since 71 or 73 all one needs to do is simply exchange pieces of paper and a promise to pay for it in the future. ( thats what fiat currencies are ) . following this i can get gold and have future tax payers pay for it??? im buying!!

newkid
(Fri Jun 06 1997 13:49)
ohio
to all
i've been reading your postings for sometime now ( including "Gold Eage" ) .
prior to Nixon getting us off the gold standard, if one wanted gold, one needed to exchange it for his labor or real goods. since 71 or 73 all one needs to do is simply exchange pieces of paper and a promise to pay for it in the future. ( thats what fiat currencies are ) . following this i can get gold and have future tax payers pay for it??? im buying!!

newkid
(Fri Jun 06 1997 13:49)
ohio
to all
i've been reading your postings for sometime now ( including "Gold Eage" ) .
prior to Nixon getting us off the gold standard, if one wanted gold, one needed to exchange it for his labor or real goods. since 71 or 73 all one needs to do is simply exchange pieces of paper and a promise to pay for it in the future. ( thats what fiat currencies are ) . following this i can get gold and have future tax payers pay for it??? im buying!!

newkid
(Fri Jun 06 1997 13:49)
ohio
to all
i've been reading your postings for sometime now ( including "Gold Eage" ) .
prior to Nixon getting us off the gold standard, if one wanted gold, one needed to exchange it for his labor or real goods. since 71 or 73 all one needs to do is simply exchange pieces of paper and a promise to pay for it in the future. ( thats what fiat currencies are ) . following this i can get gold and have future tax payers pay for it??? im buying!!

Strad Master
(Fri Jun 06 1997 14:09)
Riding the snake
RJ: Re your 8:26 post. What would you gustimate is a "reasonable dip"? Thanks for your wise posts.

Strad Master
(Fri Jun 06 1997 14:09)
Riding the snake
RJ: Re your 8:26 post. What would you gustimate is a "reasonable dip"? Thanks for your wise posts.

Eldorado
(Fri Jun 06 1997 14:13)
@the market
Looks like it's shaping up to be another of 'those' closes today in the gold! Will it be up or will it be down? Which way will she break?

Eldorado
(Fri Jun 06 1997 14:13)
@the market
Looks like it's shaping up to be another of 'those' closes today in the gold! Will it be up or will it be down? Which way will she break?

Front
(Fri Jun 06 1997 14:18)
@upandatum

Panda & Mooney:

Panda: Thanks so much for the link. Seems strange what they said there though in that the oversupply in oils supplies was much of what brought the price down from $22 to $19+ .... Now they say it's because it won't drop to $15 ??? What am I missing here ? Is there supply or not ? Guess time will tell but I like your theory a lot !!!

Mooney: Thanks for the compliment but I can assure you that's NOT what she meant! After 25, I'm just untrainable any more haha BTW, The checks in the mail !!

TTFN



Front
(Fri Jun 06 1997 14:18)
@upandatum

Panda & Mooney:

Panda: Thanks so much for the link. Seems strange what they said there though in that the oversupply in oils supplies was much of what brought the price down from $22 to $19+ .... Now they say it's because it won't drop to $15 ??? What am I missing here ? Is there supply or not ? Guess time will tell but I like your theory a lot !!!

Mooney: Thanks for the compliment but I can assure you that's NOT what she meant! After 25, I'm just untrainable any more haha BTW, The checks in the mail !!

TTFN



Bob A
(Fri Jun 06 1997 14:19)
guru
Both swc and pdlf up. With a little luck Barrons will have a guru telling us to buy plat stocks. A perfect time to exit early next week

Bob A
(Fri Jun 06 1997 14:19)
guru
Both swc and pdlf up. With a little luck Barrons will have a guru telling us to buy plat stocks. A perfect time to exit early next week

To Bear
(Fri Jun 06 1997 14:34)
(@)
That is why gold is the ultimate contrarian play. Time to sell when it rises and the blowholes on TV are recommended it!

To Bear
(Fri Jun 06 1997 14:34)
(@)
That is why gold is the ultimate contrarian play. Time to sell when it rises and the blowholes on TV are recommended it!

nailz
(Fri Jun 06 1997 14:38)
Question for Mike Sheller
MIKE SHELLER.....Have you updated the astroforcast for silver ????What does it say ????

nailz
(Fri Jun 06 1997 14:38)
Question for Mike Sheller
MIKE SHELLER.....Have you updated the astroforcast for silver ????What does it say ????

Eldorado
(Fri Jun 06 1997 14:40)
@the market
Well, I guess the direction got answered!

Eldorado
(Fri Jun 06 1997 14:40)
@the market
Well, I guess the direction got answered!

MoreGold
(Fri Jun 06 1997 14:41)
@MR. BEAR
Most of us have heard those arguments ad nausium, and they don't wash with us.
You actually listed one which is VERY bullish for Gold - the Bre-x washout. The markets had already discounted Bre-x comming on line with
71 to 200 million ounces of Gold. This False Gold then evaporated into thin air. This is bullish not bearish.
I expect much more False Gold will evaporate into thin air in the future.
Meanwhile, we NEED you guys ( Merril Lynch, shorts ) to keep writing us these damn cheap calls.....

MoreGold
(Fri Jun 06 1997 14:41)
@MR. BEAR
Most of us have heard those arguments ad nausium, and they don't wash with us.
You actually listed one which is VERY bullish for Gold - the Bre-x washout. The markets had already discounted Bre-x comming on line with
71 to 200 million ounces of Gold. This False Gold then evaporated into thin air. This is bullish not bearish.
I expect much more False Gold will evaporate into thin air in the future.
Meanwhile, we NEED you guys ( Merril Lynch, shorts ) to keep writing us these damn cheap calls.....

show me
(Fri Jun 06 1997 14:46)
@missouri
MR BEAR: Read your 10 good reasons why gold is a negitive now give me 1 good reason why paper is better?

show me
(Fri Jun 06 1997 14:46)
@missouri
MR BEAR: Read your 10 good reasons why gold is a negitive now give me 1 good reason why paper is better?

show me
(Fri Jun 06 1997 14:47)
@missouri
MR BEAR: Read your 10 good reasons why gold is a negitive now give me 1 good reason why paper is better?

Short Bull
(Fri Jun 06 1997 14:47)
@ Out of my XAU yesterday, missing .38 gain
With the DOW up over 120, the XAU has struggled today to stay afloat.
I mention the DOW because the XAU has been tracking the DOW better than
the metals. I predicted metals up just one more day ( today ) and with the
weak closes in gold and silver toward their lower ranges, that prediction
looks pretty safe. I am happy to be out of the XAU... ( no thanks Mr. Cole ) .
Mr. Cole believes I will miss the big move in the XAU because I trade too
much. Because I trade in and out so much I won't be carrying losses when
we ultimately bottom. I will be smart enough to recognize when the
bottom hits surely, and I will stay in when the XAU gives me reason to.
So far it has not. If we drop a little next week I will be getting
back into the XAU.

The Bradley point on Monday is looking more and more like a high rather
than a low....enjoy the rally in the DOW as long as it lasts because
today or Monday could very well be a significant high ( famous last words ) .
I know I am not smart enough to predict a major high in the markets, but
Mr. Rosen and several cycle analysts are...and they have missed the last
few calls but it looks more and more like they got this one right. The
NASDAQ is quite weak looking on this rally and I don't feel the NASDAQ
100 will trade much above 950 on this move, which is about 6 points higher
than we are this moment. Well, we will see. Anyone I am out of all
futures positions and mutual funds and I made money...it could be a lot
worse. I am more convinced with this rally today that the markets are
in trouble, than if we had sold off. The only thing that I feel can save
the DOW is for it to sell off on the close. Because this is likely a
major high, it will likely rally on the close and become more and more
overextended.....which is what tops are made of.

Short Bull
(Fri Jun 06 1997 14:47)
@ Out of my XAU yesterday, missing .38 gain
With the DOW up over 120, the XAU has struggled today to stay afloat.
I mention the DOW because the XAU has been tracking the DOW better than
the metals. I predicted metals up just one more day ( today ) and with the
weak closes in gold and silver toward their lower ranges, that prediction
looks pretty safe. I am happy to be out of the XAU... ( no thanks Mr. Cole ) .
Mr. Cole believes I will miss the big move in the XAU because I trade too
much. Because I trade in and out so much I won't be carrying losses when
we ultimately bottom. I will be smart enough to recognize when the
bottom hits surely, and I will stay in when the XAU gives me reason to.
So far it has not. If we drop a little next week I will be getting
back into the XAU.

The Bradley point on Monday is looking more and more like a high rather
than a low....enjoy the rally in the DOW as long as it lasts because
today or Monday could very well be a significant high ( famous last words ) .
I know I am not smart enough to predict a major high in the markets, but
Mr. Rosen and several cycle analysts are...and they have missed the last
few calls but it looks more and more like they got this one right. The
NASDAQ is quite weak looking on this rally and I don't feel the NASDAQ
100 will trade much above 950 on this move, which is about 6 points higher
than we are this moment. Well, we will see. Anyone I am out of all
futures positions and mutual funds and I made money...it could be a lot
worse. I am more convinced with this rally today that the markets are
in trouble, than if we had sold off. The only thing that I feel can save
the DOW is for it to sell off on the close. Because this is likely a
major high, it will likely rally on the close and become more and more
overextended.....which is what tops are made of.

show me
(Fri Jun 06 1997 14:47)
@missouri
MR BEAR: Read your 10 good reasons why gold is a negitive now give me 1 good reason why paper is better?

MR. BEAR
(Fri Jun 06 1997 15:04)
@ the cave
Goldielocks and the three bears

1. 16 mo. baby bear $415.00 to $337.00

2. Almost 10 year moma bear $502.75 to $326.10

3. 17 year papa bear $850.00 to 284.25

#1 baby bear needs a test of $337.00 only -$6.00 or 2%

#2 moma bear needs a test of $326.10 just -$17.00 or %5

#3 papa bear needs a test of $284.25 - $60.00 or 17%


MR. BEAR
(Fri Jun 06 1997 15:04)
@ the cave
Goldielocks and the three bears

1. 16 mo. baby bear $415.00 to $337.00

2. Almost 10 year moma bear $502.75 to $326.10

3. 17 year papa bear $850.00 to 284.25

#1 baby bear needs a test of $337.00 only -$6.00 or 2%

#2 moma bear needs a test of $326.10 just -$17.00 or %5

#3 papa bear needs a test of $284.25 - $60.00 or 17%


panda
(Fri Jun 06 1997 15:07)
@
Thirty year bond index is pricing in nirvana. On the other hand, it is getting closer to completing the triangle. May be we'll post a graphic later...

panda
(Fri Jun 06 1997 15:07)
@
Thirty year bond index is pricing in nirvana. On the other hand, it is getting closer to completing the triangle. May be we'll post a graphic later...

Auric
(Fri Jun 06 1997 15:12)
@Its in the bag

Mr. Bear: Sure hope you have on a protective cup
under those shorts

EARLDORADO
(Fri Jun 06 1997 15:12)
@twoheadedmonster
I am Earlorado and I like to hear myself drone on and on and on...IMHO my posts are the best! IMHO the rest of you don't have much to say but I will suffer through your posts just so I can read by own brillant thoughts.

EARLDORADO
(Fri Jun 06 1997 15:12)
@twoheadedmonster
I am Earlorado and I like to hear myself drone on and on and on...IMHO my posts are the best! IMHO the rest of you don't have much to say but I will suffer through your posts just so I can read by own brillant thoughts.

Auric
(Fri Jun 06 1997 15:12)
@Its in the bag

Mr. Bear: Sure hope you have on a protective cup
under those shorts

Showing
(Fri Jun 06 1997 15:13)
You
How about $850 for 1 oz of gold now worth about $350 and $850 $DOW now worth about $3000 as has been said here.

Showing
(Fri Jun 06 1997 15:13)
You
How about $850 for 1 oz of gold now worth about $350 and $850 $DOW now worth about $3000 as has been said here.

tarnished
(Fri Jun 06 1997 15:22)
@Dinghy...INCOMMING!!
Front: Re: Stevie Y, OK! OK! Minor technicallity!
Although citizenship is ascribed to place of birth...I know I'm grasping!

tarnished
(Fri Jun 06 1997 15:22)
@Dinghy...INCOMMING!!
Front: Re: Stevie Y, OK! OK! Minor technicallity!
Although citizenship is ascribed to place of birth...I know I'm grasping!

TED
(Fri Jun 06 1997 15:24)
@capebreton
Is Kitco a little slooooow fer anyone else??...XAU up .37 and DOW only up 127....yawn...

TED
(Fri Jun 06 1997 15:24)
@capebreton
Is Kitco a little slooooow fer anyone else??...XAU up .37 and DOW only up 127....yawn...

TED
(Fri Jun 06 1997 15:29)
@tarnished
Tarnished: Hey dude, what's yer thoughts about the new kid on the block..
..hahaha..DOW up 130...Hi Tort: Just noticed you in me mail box and am off ta read me mail...

TED
(Fri Jun 06 1997 15:29)
@tarnished
Tarnished: Hey dude, what's yer thoughts about the new kid on the block..
..hahaha..DOW up 130...Hi Tort: Just noticed you in me mail box and am off ta read me mail...

nailz
(Fri Jun 06 1997 15:36)
HEY TED !!!!
TED....Why on earth would a man of your means be out in the woods with a chainsaw????? Is it because where you live you can't hire anybody to work ??

nailz
(Fri Jun 06 1997 15:36)
HEY TED !!!!
TED....Why on earth would a man of your means be out in the woods with a chainsaw????? Is it because where you live you can't hire anybody to work ??

Jack
(Fri Jun 06 1997 15:41)
Interesting Times

Row developing between Underwritters and McWatter's
concerning the Sigma and Kiena Reserves. Bre-x has maked
everyone very careful. Story in Financial Post.

Jack
(Fri Jun 06 1997 15:41)
Interesting Times

Row developing between Underwritters and McWatter's
concerning the Sigma and Kiena Reserves. Bre-x has maked
everyone very careful. Story in Financial Post.

Preacher
(Fri Jun 06 1997 15:42)
Bear Patrol
With all this talk of testing the Bears, maybe we should test Mr. Bear for rabies? Hes talking drivel. His reason # 6. "Governments want low price = low inflation" contradicts his arguments that gold is dead. Come back after you get some shots and can make some sense.

Preacher
(Fri Jun 06 1997 15:42)
Bear Patrol
With all this talk of testing the Bears, maybe we should test Mr. Bear for rabies? Hes talking drivel. His reason # 6. "Governments want low price = low inflation" contradicts his arguments that gold is dead. Come back after you get some shots and can make some sense.

tarnished
(Fri Jun 06 1997 15:43)
@Dinghy makin waves
TED: I'm still laughing.....call a doctor!
How'bout that BKX, little piggy's gettin fat!
Still hangin on ABX to get a move-on.

Jack
(Fri Jun 06 1997 15:43)
Interesting Times

Rowe developing between Underwritters and McWatter's
concerning the Sigma and Kiena Reserves. Bre-x has made
everyone very careful. Story in Financial Post.

Jack
(Fri Jun 06 1997 15:43)
Interesting Times

Rowe developing between Underwritters and McWatter's
concerning the Sigma and Kiena Reserves. Bre-x has made
everyone very careful. Story in Financial Post.

tarnished
(Fri Jun 06 1997 15:43)
@Dinghy makin waves
TED: I'm still laughing.....call a doctor!
How'bout that BKX, little piggy's gettin fat!
Still hangin on ABX to get a move-on.

George S. Cole
(Fri Jun 06 1997 15:45)
bulls and bears
Some of us on this thread doubted this was the beginning of a big gold runnup, and today's weak close supports that viewpoint. I still find the action encouraging, because it reinforces my conviction that the gold complex is basing for a big move up this summer. I suspect we will stay in the $340-345 range ( spot ) for the next month or two, and then a big upside breakout.

When gold does finally enter its next bull phase, rest assured that it will NOT occur on a 130 point up Dow day. Much more likely on a minus 200 or 300 point Dow day. Also, just as gold badly lagged the whites over the past few days, the whites will badly lag when the yellow stuff takes off

Stock market in its final blowoff phase and Dow could approach 8000 before this summer's final top. More upside potential in small caps at this phase of the cycle, despite today's under performance.


George S. Cole
(Fri Jun 06 1997 15:45)
bulls and bears
Some of us on this thread doubted this was the beginning of a big gold runnup, and today's weak close supports that viewpoint. I still find the action encouraging, because it reinforces my conviction that the gold complex is basing for a big move up this summer. I suspect we will stay in the $340-345 range ( spot ) for the next month or two, and then a big upside breakout.

When gold does finally enter its next bull phase, rest assured that it will NOT occur on a 130 point up Dow day. Much more likely on a minus 200 or 300 point Dow day. Also, just as gold badly lagged the whites over the past few days, the whites will badly lag when the yellow stuff takes off

Stock market in its final blowoff phase and Dow could approach 8000 before this summer's final top. More upside potential in small caps at this phase of the cycle, despite today's under performance.


Bob
(Fri Jun 06 1997 15:46)
@...Platinum price managed by Russians
Dose anyone here believe we actually have a "real" shortage in platinum ?
The Platinum Paper Market is being manipulated by the Russians to their advantage. The last story I read in this matter was that Russian platimum was authorized to ship for June - as expected - but the export permit needed to be signed by a government official. Interesting ? If the Russians could only manipulate the gold market in their ( our ) favour we would all be rich in no time !

Anyone have a guess when the platimum paper market will crash ? What price ?

Cheers

Bob
(Fri Jun 06 1997 15:46)
@...Platinum price managed by Russians
Dose anyone here believe we actually have a "real" shortage in platinum ?
The Platinum Paper Market is being manipulated by the Russians to their advantage. The last story I read in this matter was that Russian platimum was authorized to ship for June - as expected - but the export permit needed to be signed by a government official. Interesting ? If the Russians could only manipulate the gold market in their ( our ) favour we would all be rich in no time !

Anyone have a guess when the platimum paper market will crash ? What price ?

Cheers

TED
(Fri Jun 06 1997 15:47)
@nailz
Nailz ( 15:36 ) I like CHAINSAWIN things!...but yer right probably couldn't find anyone to do the work in this land of fat lazy people who think the NDP is great...Big waves are rollin in off the ocean but Scaterie still bekons...

TED
(Fri Jun 06 1997 15:47)
@nailz
Nailz ( 15:36 ) I like CHAINSAWIN things!...but yer right probably couldn't find anyone to do the work in this land of fat lazy people who think the NDP is great...Big waves are rollin in off the ocean but Scaterie still bekons...

TED
(Fri Jun 06 1997 15:51)
@NDPland
Tarnished: What ya laughing at dude??...Thought it up while runnin the chainsaw...hahaha...Dow up 130...wonder if that insignificant employment report had anything to do with the big gain in the market...probably not cause it don't have no effect on nothin...do it bro...

TED
(Fri Jun 06 1997 15:51)
@NDPland
Tarnished: What ya laughing at dude??...Thought it up while runnin the chainsaw...hahaha...Dow up 130...wonder if that insignificant employment report had anything to do with the big gain in the market...probably not cause it don't have no effect on nothin...do it bro...

nailz
(Fri Jun 06 1997 16:05)
SCATERIE BECKONS
TED.....I feel SCATERIE beckoning me now...with promises of great wealth produced by the finding of much treasure....Then on to OAK to multiply that wealth...Then back to KITCO and corner the gold market !!!

nailz
(Fri Jun 06 1997 16:05)
SCATERIE BECKONS
TED.....I feel SCATERIE beckoning me now...with promises of great wealth produced by the finding of much treasure....Then on to OAK to multiply that wealth...Then back to KITCO and corner the gold market !!!

GFD
(Fri Jun 06 1997 16:06)
Congratulations
DA: That palladium play of yours looks to be a home run! Congratulations!! It's great to see a play like that work out, even if it is from the sidelines. Especially for poor old bugs watching squashed worms!!

One question though. I would expect selling in other markets to cover losses in palladium and platinum. I am not seeing it in this case. Is it because the shorts are mostly industrial traders and don't cover this way or am I not looking in the right place?

GFD
(Fri Jun 06 1997 16:06)
Congratulations
DA: That palladium play of yours looks to be a home run! Congratulations!! It's great to see a play like that work out, even if it is from the sidelines. Especially for poor old bugs watching squashed worms!!

One question though. I would expect selling in other markets to cover losses in palladium and platinum. I am not seeing it in this case. Is it because the shorts are mostly industrial traders and don't cover this way or am I not looking in the right place?

vronsky
(Fri Jun 06 1997 16:10)
"GOOD PROBABILITY OF DOW 8000 IN SUMMER"
George S. Cole, Internets Resident Economist: With Dow up 123 ( 7428 ) his 8000 call appears certain - He also anticipates start of secular gold bull in same period. See Coles Market Insights:
http://www.gold-eagle.com/gold_digest.html

TED
(Fri Jun 06 1997 16:10)
@nailz
Nailz: A foggy mist now surrounds Scaterie Island makin it look even more mysterious and maybe even a little OMINOUS...How much do metal detectors cost?

TED
(Fri Jun 06 1997 16:10)
@nailz
Nailz: A foggy mist now surrounds Scaterie Island makin it look even more mysterious and maybe even a little OMINOUS...How much do metal detectors cost?

vronsky
(Fri Jun 06 1997 16:10)
"GOOD PROBABILITY OF DOW 8000 IN SUMMER"
George S. Cole, Internets Resident Economist: With Dow up 123 ( 7428 ) his 8000 call appears certain - He also anticipates start of secular gold bull in same period. See Coles Market Insights:
http://www.gold-eagle.com/gold_digest.html

panda
(Fri Jun 06 1997 16:13)
@
Read the BONDS section:

http://www.dbc.com/cgi-bin/htx.exe/newsroom/snapshot.html?source=core/dbc

panda
(Fri Jun 06 1997 16:13)
@
Read the BONDS section:

http://www.dbc.com/cgi-bin/htx.exe/newsroom/snapshot.html?source=core/dbc

panda
(Fri Jun 06 1997 16:15)
@
Bart -- I like the new header!!!!

panda
(Fri Jun 06 1997 16:15)
@
Bart -- I like the new header!!!!

Bernatz de ventadorm
(Fri Jun 06 1997 16:33)
alchemist's valley@les pyranees
Mes Amis
Pardonez moi so much for zee long seelance. Ah have
been zo buzy on zee gold from zee infected dirt machine.
But ah had zee grande technical probleme. Ah tried to
juice up ( as you say ) zee process wiz some Black Plague
zherms zat Ah had kept in a zhar from when ah was
a keed in zee so called dark ages. Sadly all my staff
zey DIE by dam, poor souls, and ah had to leave zat
village rather quickly.
Now a new projzect - Zee Platinium from zee gold - zis
should not be so tough - Im off to see zee wizards zee
wonderful wizards of zee pyranees.

Bernatz de ventadorm
(Fri Jun 06 1997 16:33)
alchemist's valley@les pyranees
Mes Amis
Pardonez moi so much for zee long seelance. Ah have
been zo buzy on zee gold from zee infected dirt machine.
But ah had zee grande technical probleme. Ah tried to
juice up ( as you say ) zee process wiz some Black Plague
zherms zat Ah had kept in a zhar from when ah was
a keed in zee so called dark ages. Sadly all my staff
zey DIE by dam, poor souls, and ah had to leave zat
village rather quickly.
Now a new projzect - Zee Platinium from zee gold - zis
should not be so tough - Im off to see zee wizards zee
wonderful wizards of zee pyranees.

MR. BEAR
(Fri Jun 06 1997 16:47)
@ the cave
Preacher: #6 Governments want low price = low inflation

The govenment would like to see gold at it's real value ( cost of copper ) and once and for all killing the myth that the barbaric relic of years gone by is somehow a hedge against inflation. If gold was ever to raise its ugly head as a safe haven against the evils of fiat currency the governments of the world would sell at a huge loss to stiffle the reasugance. But they do'nt have too, they will sell very slowly and reap big profits while keeping the fiat currency strong. Do you believe the EMU would let gold devalue the currency. The CB's will and are selling all the gold in thier valuts now. They know the future of this barbaric metal is gone. If the CB's had no gold who would want it?

MR. BEAR
(Fri Jun 06 1997 16:47)
@ the cave
Preacher: #6 Governments want low price = low inflation

The govenment would like to see gold at it's real value ( cost of copper ) and once and for all killing the myth that the barbaric relic of years gone by is somehow a hedge against inflation. If gold was ever to raise its ugly head as a safe haven against the evils of fiat currency the governments of the world would sell at a huge loss to stiffle the reasugance. But they do'nt have too, they will sell very slowly and reap big profits while keeping the fiat currency strong. Do you believe the EMU would let gold devalue the currency. The CB's will and are selling all the gold in thier valuts now. They know the future of this barbaric metal is gone. If the CB's had no gold who would want it?

Earl
(Fri Jun 06 1997 16:57)
@worldaccessnet.com
Bernatz: It is a delight to return to Kitco for a review of the day's gossip and find your comments on the top of the list. Sorry to hear about the temporary setback in your pursuit of riches from common dirt. The loss of a few is hardly worth mention. That a few losses must be incurred in the process is of no matter. There will be others to replace them and in due course it will all be forgotten. Indeed, given your high probability for ultimate success, when it does occur, these same ungrateful people will consider it an honor to have given some of their own in such a noble cause. For the moment, it is no small source of comfort to know that you were able to take flight and avoid any serious unpleasantness over such a trifle. You are handling it in such a 'continental' manner. A credit to your forebears. Please keep us appraised of your progress that we may look forward to the moment when stock will be issued and cries of fraud may begin.

Earl
(Fri Jun 06 1997 16:57)
@worldaccessnet.com
Bernatz: It is a delight to return to Kitco for a review of the day's gossip and find your comments on the top of the list. Sorry to hear about the temporary setback in your pursuit of riches from common dirt. The loss of a few is hardly worth mention. That a few losses must be incurred in the process is of no matter. There will be others to replace them and in due course it will all be forgotten. Indeed, given your high probability for ultimate success, when it does occur, these same ungrateful people will consider it an honor to have given some of their own in such a noble cause. For the moment, it is no small source of comfort to know that you were able to take flight and avoid any serious unpleasantness over such a trifle. You are handling it in such a 'continental' manner. A credit to your forebears. Please keep us appraised of your progress that we may look forward to the moment when stock will be issued and cries of fraud may begin.

Earl
(Fri Jun 06 1997 17:11)
@worldaccessnet.com
RJ: If you are lurking today, I would like to comment on the thread that seemed to be developing late last nite. That is that for many of us, the PM's are not our professional racket. Probably never will be. Our purse is thin and our skills as well.

By your own account, you move in a world that is alien to our own and to read about it may be a cause for some discomfort. Primarily because, those who do know what they are about and how to do and do it well are also proud of that fact and have no desire to 'hide their light under a bushel'. ..... In short, please continue to post your opinion and I will learn to deal with the rest. There are many things to learn from this site. Forebearance not the least.

Earl
(Fri Jun 06 1997 17:11)
@worldaccessnet.com
RJ: If you are lurking today, I would like to comment on the thread that seemed to be developing late last nite. That is that for many of us, the PM's are not our professional racket. Probably never will be. Our purse is thin and our skills as well.

By your own account, you move in a world that is alien to our own and to read about it may be a cause for some discomfort. Primarily because, those who do know what they are about and how to do and do it well are also proud of that fact and have no desire to 'hide their light under a bushel'. ..... In short, please continue to post your opinion and I will learn to deal with the rest. There are many things to learn from this site. Forebearance not the least.

Jack
(Fri Jun 06 1997 17:14)
All over the place

Mr. Bear: If the government had no gold, I'd want it.
Mooney: ( 13:14 ) These new methods of propelling our bombs
drive me nuts, they have so many possibilities out there.
How about Zinc-Air modules ready to use by large fleets
to power vehicles. Electro Fuel Corp. ( EFCX ) has a series
of test going in Germany, Italy and the Scandanavian
countries that look promising. Soon they will be testing
at a location near you or us.
Lan Man: ( 09:46 ) Government statistics and Wall Street
projections are fabricated to keep the market up and the
gold bugs unhappy. They want everybody else to "Don't
worry, be happy" - this until they decide to lower the
boom for the intro of the Pheonix.
Duncan: ( 22:57 ) No one really knows how much gold they
( mining Cos. ) have in the ground until it comes out
profitably. Sometimes they catch the problem early -that
to say after some investors get screwed. Say Brex-x,
then Delgra___, then ________???????. They will keep
coming. Not anything new, just a part of the scene.

Jack
(Fri Jun 06 1997 17:14)
All over the place

Mr. Bear: If the government had no gold, I'd want it.
Mooney: ( 13:14 ) These new methods of propelling our bombs
drive me nuts, they have so many possibilities out there.
How about Zinc-Air modules ready to use by large fleets
to power vehicles. Electro Fuel Corp. ( EFCX ) has a series
of test going in Germany, Italy and the Scandanavian
countries that look promising. Soon they will be testing
at a location near you or us.
Lan Man: ( 09:46 ) Government statistics and Wall Street
projections are fabricated to keep the market up and the
gold bugs unhappy. They want everybody else to "Don't
worry, be happy" - this until they decide to lower the
boom for the intro of the Pheonix.
Duncan: ( 22:57 ) No one really knows how much gold they
( mining Cos. ) have in the ground until it comes out
profitably. Sometimes they catch the problem early -that
to say after some investors get screwed. Say Brex-x,
then Delgra___, then ________???????. They will keep
coming. Not anything new, just a part of the scene.

Earl
(Fri Jun 06 1997 17:23)
@worldaccessnet.com
Tort: Your 7:33 was absolutely the best to date. Who said there is no humor in poverty?

Earl
(Fri Jun 06 1997 17:23)
@worldaccessnet.com
Tort: Your 7:33 was absolutely the best to date. Who said there is no humor in poverty?

Tortfeasor
(Fri Jun 06 1997 17:31)
Friday afternoon joke
Here's a little story for Ted and his sea going ilk.

Once upon a time there was a famous sea captain. This captain was very successful at what he did; for years he guided merchant ships all over the world. Never did stormy seas or pirates get the best of him. He was admired by his crew and fellow captains.

However, there was one thing different about this captain. Every morning he went through a strange ritual. He would lock himself in his captain's quarters and open a small safe. In the safe was an envelope with a piece of paper inside. He would stare at the paper for a minute, then lock it back up. After, he would go about his daily duties.

For years this went on, and his crew became very curious. Was it a treasure map? Was it a letter from a long lost love? Everyone speculated about the contents of the strange envelope.

One day the captain died at sea. After laying the captain's body to rest, the first mate led the entire crew into the captains quarters. He opened the safe, got the envolope, opened it and...

The first mate turned pale and showed the paper to the others. Four words were on the paper, two on two lines:

``Port Left, Starboard Right''

Tortfeasor
(Fri Jun 06 1997 17:31)
Friday afternoon joke
Here's a little story for Ted and his sea going ilk.

Once upon a time there was a famous sea captain. This captain was very successful at what he did; for years he guided merchant ships all over the world. Never did stormy seas or pirates get the best of him. He was admired by his crew and fellow captains.

However, there was one thing different about this captain. Every morning he went through a strange ritual. He would lock himself in his captain's quarters and open a small safe. In the safe was an envelope with a piece of paper inside. He would stare at the paper for a minute, then lock it back up. After, he would go about his daily duties.

For years this went on, and his crew became very curious. Was it a treasure map? Was it a letter from a long lost love? Everyone speculated about the contents of the strange envelope.

One day the captain died at sea. After laying the captain's body to rest, the first mate led the entire crew into the captains quarters. He opened the safe, got the envolope, opened it and...

The first mate turned pale and showed the paper to the others. Four words were on the paper, two on two lines:

``Port Left, Starboard Right''

GFD
(Fri Jun 06 1997 17:49)
The next shoe
DA: Do you have any feel for where the next ( if any ) market to follow Pa/Pt will be?? That is, should be be playing silver or should we be playing gold?? Thanks.

GFD
(Fri Jun 06 1997 17:49)
The next shoe
DA: Do you have any feel for where the next ( if any ) market to follow Pa/Pt will be?? That is, should be be playing silver or should we be playing gold?? Thanks.

bw
(Fri Jun 06 1997 17:50)
Greenspan's nightmare: the big one II
Greenspan is finishing his third gin and water, less water with each drink. They are testing us as never before, he thinks. In the last four hours he had been forced to create out of thin air, almost one trillion dollars in electronic cash. He has been authorized to create an unlimited amount, whatever it takes. Still something is different this time. Always before a few hundred billion would crush demand. This time it was only satisfying it, and only for minutes. No, the real problem was not the amount of cash he had to create. On his order, the computer would create ten, one hundred, one thousand trillion dollars in milliseconds. The problem was gold. The price of gold had trippled in the last five hours and almost no volume had been traded. The only offers were from the IMF. The only reason the IMF was offering a few ounces every ten minutes or so, was so they could say gold was still trading. Silver was not trading as the IMF had no silver stocks. As fast as he was creating the cash, the cash was attempting to flow into things. And the cash was trying to become gold in the worst way. If only I could create the damn gold, he thinks.

The New York markets start to open soon. The phone rings once more, his monitor tells him its Michel. "Michel go the hell away." I wish I could Alan. Will this day ever end? "How much do you want now?" Alan as you know cash alone will not work this time. We in Europe have a plan and I want to run it by you. "You don't have to Michel. Let me guess, this time you want both gold and cash, correct?" Correct Alan. We need two hundred million ounces of gold from you along with two and a half trillion of your good old usa dollars. We will kick in another two hundred million ounces of gold and perhaps we can crush this thing real well. "Two hundred million, are you crazy? Michel, you know damn well we don't have that much gold!" Alan neither do we. Just promise to deliver it! All we need to do is cause the overdue reaction, you can cover, make some money to boot and deliver nothing. "I'll have to go upstairs on this Michel." Don't be too long Alan, we may only have a couple of hours, we have to get this thing under control before your stock markets open.

bw
(Fri Jun 06 1997 17:50)
Greenspan's nightmare: the big one II
Greenspan is finishing his third gin and water, less water with each drink. They are testing us as never before, he thinks. In the last four hours he had been forced to create out of thin air, almost one trillion dollars in electronic cash. He has been authorized to create an unlimited amount, whatever it takes. Still something is different this time. Always before a few hundred billion would crush demand. This time it was only satisfying it, and only for minutes. No, the real problem was not the amount of cash he had to create. On his order, the computer would create ten, one hundred, one thousand trillion dollars in milliseconds. The problem was gold. The price of gold had trippled in the last five hours and almost no volume had been traded. The only offers were from the IMF. The only reason the IMF was offering a few ounces every ten minutes or so, was so they could say gold was still trading. Silver was not trading as the IMF had no silver stocks. As fast as he was creating the cash, the cash was attempting to flow into things. And the cash was trying to become gold in the worst way. If only I could create the damn gold, he thinks.

The New York markets start to open soon. The phone rings once more, his monitor tells him its Michel. "Michel go the hell away." I wish I could Alan. Will this day ever end? "How much do you want now?" Alan as you know cash alone will not work this time. We in Europe have a plan and I want to run it by you. "You don't have to Michel. Let me guess, this time you want both gold and cash, correct?" Correct Alan. We need two hundred million ounces of gold from you along with two and a half trillion of your good old usa dollars. We will kick in another two hundred million ounces of gold and perhaps we can crush this thing real well. "Two hundred million, are you crazy? Michel, you know damn well we don't have that much gold!" Alan neither do we. Just promise to deliver it! All we need to do is cause the overdue reaction, you can cover, make some money to boot and deliver nothing. "I'll have to go upstairs on this Michel." Don't be too long Alan, we may only have a couple of hours, we have to get this thing under control before your stock markets open.

Bart Kitner (Kitco)
(Fri Jun 06 1997 17:51)
bkitner@kitco.com
TO WONDERING: When the lease rates are higher than the prime lending rate ( backwardation ) it greatly encourages the dealers or anyone else carrying inventory to sell into the market today, since they can contract to buy it back cheaper at a later date.

It means an increased cost to carry inventory which means higher surcharges on PGM products. In fact we just received notice from our suppliers beginning with the familiar "As you may already be aware...."

The sqeeze is on Pt and Pd because of a ( perceived? ) physical shortage. This isn't the case with gold and silver and so I wouldn't expect the lease rates to coattail the PGMs. I can't tell you if the price will move up in sympathy because if I did then everybody would know, and then it wouldn't be interesting talking about it, and then nobody would come back to our website, and then.....

Bart Kitner (Kitco)
(Fri Jun 06 1997 17:51)
bkitner@kitco.com
TO WONDERING: When the lease rates are higher than the prime lending rate ( backwardation ) it greatly encourages the dealers or anyone else carrying inventory to sell into the market today, since they can contract to buy it back cheaper at a later date.

It means an increased cost to carry inventory which means higher surcharges on PGM products. In fact we just received notice from our suppliers beginning with the familiar "As you may already be aware...."

The sqeeze is on Pt and Pd because of a ( perceived? ) physical shortage. This isn't the case with gold and silver and so I wouldn't expect the lease rates to coattail the PGMs. I can't tell you if the price will move up in sympathy because if I did then everybody would know, and then it wouldn't be interesting talking about it, and then nobody would come back to our website, and then.....

Bart Kitner
(Fri Jun 06 1997 18:01)
bkitner@kitco.com
PS: We put somthing from today's news wire at http://www.kitco.com/news.platinum.html concerning the Russian situation. Although the article says that there are no efficient substitutes for palladium in automotive catalysts, rhodium was being widely used before palladium replaced much of the rhodium based catalytic converters.

Bart Kitner
(Fri Jun 06 1997 18:01)
bkitner@kitco.com
PS: We put somthing from today's news wire at http://www.kitco.com/news.platinum.html concerning the Russian situation. Although the article says that there are no efficient substitutes for palladium in automotive catalysts, rhodium was being widely used before palladium replaced much of the rhodium based catalytic converters.

Gene
(Fri Jun 06 1997 18:20)
@Reality
Mooney,
Thanks for your thoughts. I agree. I'm thinking that it may not skyrocket. I'm thinking that it might rise slowly like a feather taken every higher by a breeze.

Gene
(Fri Jun 06 1997 18:20)
@Reality
Mooney,
Thanks for your thoughts. I agree. I'm thinking that it may not skyrocket. I'm thinking that it might rise slowly like a feather taken every higher by a breeze.

TED
(Fri Jun 06 1997 18:25)
@tort
Tort: Good one...I needed that!...Got yer missive and I'll do me best..

TED
(Fri Jun 06 1997 18:25)
@tort
Tort: Good one...I needed that!...Got yer missive and I'll do me best..

Gene
(Fri Jun 06 1997 18:26)
@Reality
JohnC,
I'm quite happy that you and so many others are thinking like that. Historically such total bearishness by so many often preceeds a run-up, such as total bullishness in the stock market may preceed a bear market. In the stock market now good news is taken as good news, bad news is taken as good news, and if there is no significant news someone makes up a bullish story. The herd is running all together; they may run off a cliff all together.

Gene
(Fri Jun 06 1997 18:26)
@Reality
JohnC,
I'm quite happy that you and so many others are thinking like that. Historically such total bearishness by so many often preceeds a run-up, such as total bullishness in the stock market may preceed a bear market. In the stock market now good news is taken as good news, bad news is taken as good news, and if there is no significant news someone makes up a bullish story. The herd is running all together; they may run off a cliff all together.

NJ
(Fri Jun 06 1997 18:32)
long bond
Bank of China is the rumored buyer in this story.

Friday June 6 2:26 PM EDT

US T-bond yield drops to 6.80 pct, shorts cover

NEW YORK, June 6 ( Reuter ) - The benchmark U.S. Treasury 30-year bond yield fell to 6.80 percent in afternoon trade on Friday, its lowest level in more than three months.

Short-covering, foreign buying and technical factors boosted the 30-year bond price more than a full point as its yield dropped to 6.80 percent, the lowest level since the close on February 28, traders
said.

At the shorter end of the maturity curve, the two-year Treasury note yield slipped to 6.13 percent, its lowest level since its close at 6.11 percent on March 12.

NJ
(Fri Jun 06 1997 18:32)
long bond
Bank of China is the rumored buyer in this story.

Friday June 6 2:26 PM EDT

US T-bond yield drops to 6.80 pct, shorts cover

NEW YORK, June 6 ( Reuter ) - The benchmark U.S. Treasury 30-year bond yield fell to 6.80 percent in afternoon trade on Friday, its lowest level in more than three months.

Short-covering, foreign buying and technical factors boosted the 30-year bond price more than a full point as its yield dropped to 6.80 percent, the lowest level since the close on February 28, traders
said.

At the shorter end of the maturity curve, the two-year Treasury note yield slipped to 6.13 percent, its lowest level since its close at 6.11 percent on March 12.

Earl Jr.
(Fri Jun 06 1997 18:43)
@goldendreams
IMHO the late day sell-off in Gold-XAU does not and I emphasize does not bode well for the direction of gold in the long to intermediate term if the folowing considerations are taking into consideration...Bla...bla...
yackity yack excetera.IMHO ODLE and I are the only voices or reason in the wilderness of AU investing when one takes stock of the amount of witty comments needed to show our total superiority to the rest of you peons.IMHO bla bla bla droning on and on and on.

Earl Jr.
(Fri Jun 06 1997 18:43)
@goldendreams
IMHO the late day sell-off in Gold-XAU does not and I emphasize does not bode well for the direction of gold in the long to intermediate term if the folowing considerations are taking into consideration...Bla...bla...
yackity yack excetera.IMHO ODLE and I are the only voices or reason in the wilderness of AU investing when one takes stock of the amount of witty comments needed to show our total superiority to the rest of you peons.IMHO bla bla bla droning on and on and on.

MoreGold
(Fri Jun 06 1997 18:45)
@EMU Blues
MR.BEAR and others: The EMU is in bigger trouble than ever.
Read the article in todays Globe and Mail. Helmut Khol is the only strong backer remaining and he may be gone next year. Large majority of Germans don't want it. France and Britain want it watered down, and others want it delayed. Khol has said if it is delayed it will never happen.
If it's watered down, the Euro will be a weak currency. HeHeHe - what better news for Gold than a weak European currency.
Nightly Business Report - just this minute - reports a rumour that the EMU will be delayed - what timing?
This is all bullish news for Gold.
Those counting on the EMU and a strong Euro will be sorely disappointed.

MoreGold
(Fri Jun 06 1997 18:45)
@EMU Blues
MR.BEAR and others: The EMU is in bigger trouble than ever.
Read the article in todays Globe and Mail. Helmut Khol is the only strong backer remaining and he may be gone next year. Large majority of Germans don't want it. France and Britain want it watered down, and others want it delayed. Khol has said if it is delayed it will never happen.
If it's watered down, the Euro will be a weak currency. HeHeHe - what better news for Gold than a weak European currency.
Nightly Business Report - just this minute - reports a rumour that the EMU will be delayed - what timing?
This is all bullish news for Gold.
Those counting on the EMU and a strong Euro will be sorely disappointed.

panda
(Fri Jun 06 1997 18:48)
@
Bart -- Thanks for the news story. I think I hear a, "In order to prevent disorderly market conditions from affecting...", speech coming on from somebody. ;- )

Earl Jr. -- Huh?

panda
(Fri Jun 06 1997 18:48)
@
Bart -- Thanks for the news story. I think I hear a, "In order to prevent disorderly market conditions from affecting...", speech coming on from somebody. ;- )

Earl Jr. -- Huh?

Glenn
(Fri Jun 06 1997 19:08)
AUAG
Finally some bullish news:

My sence of the sell off on the Close was that most traders who had bought over the past two days simply did not want to go home long over a weekend in case something happened with the platinum situation. So since "MOST" traders are wrong expect Gold to open up higher on Monday. Of course the Platinum situation could get worked out this weekend I doupt it will releave the situation by Monday.

Although the closer we get to $350 ( Aug ) the better the shorting opportunity will be!

Glenn
(Fri Jun 06 1997 19:08)
AUAG
Finally some bullish news:

My sence of the sell off on the Close was that most traders who had bought over the past two days simply did not want to go home long over a weekend in case something happened with the platinum situation. So since "MOST" traders are wrong expect Gold to open up higher on Monday. Of course the Platinum situation could get worked out this weekend I doupt it will releave the situation by Monday.

Although the closer we get to $350 ( Aug ) the better the shorting opportunity will be!

TED
(Fri Jun 06 1997 19:09)
@longbond
What a move in the long bond bringing the yield all the way down to 6.78%
Hi Panda...nother good day fer paper...eh...

TED
(Fri Jun 06 1997 19:09)
@longbond
What a move in the long bond bringing the yield all the way down to 6.78%
Hi Panda...nother good day fer paper...eh...

vronsky
(Fri Jun 06 1997 19:10)
PLEASE POST MORE.
bw: ref your "Greenspan's nightmare: the big one II ) - very well written with financial emotion literally oozing from each line. In addition to myself, there are others here who would like to see more of your rhetoric.

vronsky
(Fri Jun 06 1997 19:10)
PLEASE POST MORE.
bw: ref your "Greenspan's nightmare: the big one II ) - very well written with financial emotion literally oozing from each line. In addition to myself, there are others here who would like to see more of your rhetoric.

Wondering
(Fri Jun 06 1997 19:11)
w@W
Hello Bart:
But Bart, the firms that sell the PGM metals short also sell gold and silver. If some of these firms fail and default on their PGM contracts, will they be able or allowed to make good on there gold and silver positions? Will the firms and indivuals who were cheated, allow this?

Regards,
Wondering

Wondering
(Fri Jun 06 1997 19:11)
w@W
Hello Bart:
But Bart, the firms that sell the PGM metals short also sell gold and silver. If some of these firms fail and default on their PGM contracts, will they be able or allowed to make good on there gold and silver positions? Will the firms and indivuals who were cheated, allow this?

Regards,
Wondering

panda
(Fri Jun 06 1997 19:32)
@?
TED -- You asked for it, so here it is! Without further delay, I present the weekly Long Bond chart. Apparently the rally was due to a, 'flight to quality', sparked by a rumor of a delay in implementing the EMU. Did someone say the EMU was a flightless bird?

BBL...



panda
(Fri Jun 06 1997 19:32)
@?
TED -- You asked for it, so here it is! Without further delay, I present the weekly Long Bond chart. Apparently the rally was due to a, 'flight to quality', sparked by a rumor of a delay in implementing the EMU. Did someone say the EMU was a flightless bird?

BBL...



panda
(Fri Jun 06 1997 19:37)
@will.the.real?
Now, will the real, 'flight to quality', instrument please shine bight yellow, er, I mean stand up? The clock is ticking, says the chart. A little more of a rally in the bonds and then? Perhaps rising rates in a month or two? Could it be? Nah! Stay tuned.

Gone now.

panda
(Fri Jun 06 1997 19:37)
@will.the.real?
Now, will the real, 'flight to quality', instrument please shine bight yellow, er, I mean stand up? The clock is ticking, says the chart. A little more of a rally in the bonds and then? Perhaps rising rates in a month or two? Could it be? Nah! Stay tuned.

Gone now.

Steve (Perth - Western Australia)
(Fri Jun 06 1997 19:38)
steve@compsb.eepo.com.au
Good morning all, its Saturday already! Following news feed about the "immediate need" for an interest rate rise is interesting....& George S. Cole is right on the money again....
"Figures from the German Bundesbank showed 11.4 percent of Germans were out of work in May, compared with 11.2 percent in April, while the U.S. jobless rate unexpectedly fell to 4.8 percent in May, its lowest level since October 1973.

But a weaker-than-expected U.S. 138,000-job rise in May payrolls, while counteracted by upward revisions to the March and April figures, caused some to question the immediate need for higher interest rates.

"You could talk a bit that the number was neutral for Fed policy, but with stocks and bonds so strong, I don't think you can get a whole lot out of that argument," said Mike Malpede, senior foreign exchange analyst at Refco Group Ltd. in Chicago.
Reuters...6/6/97 ( Yahoo News )

Steve (Perth - Western Australia)
(Fri Jun 06 1997 19:38)
steve@compsb.eepo.com.au
Good morning all, its Saturday already! Following news feed about the "immediate need" for an interest rate rise is interesting....& George S. Cole is right on the money again....
"Figures from the German Bundesbank showed 11.4 percent of Germans were out of work in May, compared with 11.2 percent in April, while the U.S. jobless rate unexpectedly fell to 4.8 percent in May, its lowest level since October 1973.

But a weaker-than-expected U.S. 138,000-job rise in May payrolls, while counteracted by upward revisions to the March and April figures, caused some to question the immediate need for higher interest rates.

"You could talk a bit that the number was neutral for Fed policy, but with stocks and bonds so strong, I don't think you can get a whole lot out of that argument," said Mike Malpede, senior foreign exchange analyst at Refco Group Ltd. in Chicago.
Reuters...6/6/97 ( Yahoo News )

nailz
(Fri Jun 06 1997 19:44)
CHINA BOUGHT THE BONDS
ALL.... IMHO...China has made it's purchase of MFN status today. You may expect this to be announced next week. A little arm twisting was all it took....Those trips some questioned a couple of weeks ago did the trick. Now we have China and Japan as big holders of US paper...The plot thickens !!!!! Just wonder if it was an emergency prop up or just anothre way to keep things going for a while ????? Some of you intellectuals chew on this one for a while.....

market watcher
(Fri Jun 06 1997 19:44)
More on EMU story
Friday June 6 5:10 AM EDT

Waigel to hold June 18 CSU briefing on EMU, gold

By Emma Thomasson

BONN, June 6 ( Reuter ) - German Finance Minister Theo Waigel will defend his controversial plan to revalue Bundesbank assets and his stance on Europe's single currency to his Christian Social Union ( CSU ) on June 18, the CSU said on Friday.

A CSU spokesman said Waigel had been due to address the party, the Bavarian sister party of Chancellor Helmut Kohl's Christian Democrats ( CDU ) , earlier this week, but was forced to cancel because of ``important engagements in Bonn.''

Waigel on Tuesday was forced to retreat from his plan to help plug a gaping budget hole and qualify for the euro with profits from revalued central bank assets, after sharp Bundesbank criticism and disquiet in the ruling coalition.

The beleaguered Waigel on Wednesday survived an opposition parliamentary motion calling for his dismissal, after Kohl threw his weight fully behind the struggling minister.

CSU sources in Bavaria's state parliament said there was broad dissatisfaction with Waigel in his own party, particularly because of the row with the fiercely independent Bundesbank over asset revaluation.

The sources said the party was critical of their leader because he had not informed them sufficiently over his plans.

Waigel on Thursday denied there was any discussion in the CSU party about a possible delay to the start of European economic and monetary union ( EMU ) , planned for 1999, as reported by Friday's edition of the Sueddeutsche Zeitung.

The Munich-based paper said CSU members were discussing a possible delay due to the left-wing election victory in France.

Waigel also reaffirmed that Germany would meet entry criteria as outlined in the Maastricht Treaty and that the deficit criteria must be strictly met at 3.0 percent or below of Gross Domestic Product ( GDP ) .

The Sueddeutsche Zeitung daily quoted a member of the CSU state government in Bavaria as saying: ``Since the French election we have agreed currency union must be postponed.''

The report said the CSU state government and CSU members of the state assembly in Bavaria believed a single currency would be a ``monetary death sentence'' after new French Prime Minister Lionel Jospin suggested it could be launched with softer financial criteria.

A spokesman for Bavarian Premier Edmund Stoiber said in response to an inquiry that Stoiber saw only 50-50 chances of a punctual launch of the euro if France's new leaders met certain election campaign pledges.

Dominique Strauss-Kahn, France's new Finance Minister, has suggested that criteria in the Maastricht treaty on monetary union, including a requirement to cut public deficits to three percent of gross domestic product, should be interpreted politically rather than in strict mathematical terms.

Stoiber, quoted by the Sueddeutsche, said softening the criteria could have disastrous consequences. ``If people notice in the year 2005 that they have given up their currency too soon, we can really talk about a bomb in Europe,'' he said.


market watcher
(Fri Jun 06 1997 19:44)
More on EMU story
Friday June 6 5:10 AM EDT

Waigel to hold June 18 CSU briefing on EMU, gold

By Emma Thomasson

BONN, June 6 ( Reuter ) - German Finance Minister Theo Waigel will defend his controversial plan to revalue Bundesbank assets and his stance on Europe's single currency to his Christian Social Union ( CSU ) on June 18, the CSU said on Friday.

A CSU spokesman said Waigel had been due to address the party, the Bavarian sister party of Chancellor Helmut Kohl's Christian Democrats ( CDU ) , earlier this week, but was forced to cancel because of ``important engagements in Bonn.''

Waigel on Tuesday was forced to retreat from his plan to help plug a gaping budget hole and qualify for the euro with profits from revalued central bank assets, after sharp Bundesbank criticism and disquiet in the ruling coalition.

The beleaguered Waigel on Wednesday survived an opposition parliamentary motion calling for his dismissal, after Kohl threw his weight fully behind the struggling minister.

CSU sources in Bavaria's state parliament said there was broad dissatisfaction with Waigel in his own party, particularly because of the row with the fiercely independent Bundesbank over asset revaluation.

The sources said the party was critical of their leader because he had not informed them sufficiently over his plans.

Waigel on Thursday denied there was any discussion in the CSU party about a possible delay to the start of European economic and monetary union ( EMU ) , planned for 1999, as reported by Friday's edition of the Sueddeutsche Zeitung.

The Munich-based paper said CSU members were discussing a possible delay due to the left-wing election victory in France.

Waigel also reaffirmed that Germany would meet entry criteria as outlined in the Maastricht Treaty and that the deficit criteria must be strictly met at 3.0 percent or below of Gross Domestic Product ( GDP ) .

The Sueddeutsche Zeitung daily quoted a member of the CSU state government in Bavaria as saying: ``Since the French election we have agreed currency union must be postponed.''

The report said the CSU state government and CSU members of the state assembly in Bavaria believed a single currency would be a ``monetary death sentence'' after new French Prime Minister Lionel Jospin suggested it could be launched with softer financial criteria.

A spokesman for Bavarian Premier Edmund Stoiber said in response to an inquiry that Stoiber saw only 50-50 chances of a punctual launch of the euro if France's new leaders met certain election campaign pledges.

Dominique Strauss-Kahn, France's new Finance Minister, has suggested that criteria in the Maastricht treaty on monetary union, including a requirement to cut public deficits to three percent of gross domestic product, should be interpreted politically rather than in strict mathematical terms.

Stoiber, quoted by the Sueddeutsche, said softening the criteria could have disastrous consequences. ``If people notice in the year 2005 that they have given up their currency too soon, we can really talk about a bomb in Europe,'' he said.


nailz
(Fri Jun 06 1997 19:44)
CHINA BOUGHT THE BONDS
ALL.... IMHO...China has made it's purchase of MFN status today. You may expect this to be announced next week. A little arm twisting was all it took....Those trips some questioned a couple of weeks ago did the trick. Now we have China and Japan as big holders of US paper...The plot thickens !!!!! Just wonder if it was an emergency prop up or just anothre way to keep things going for a while ????? Some of you intellectuals chew on this one for a while.....

Earl
(Fri Jun 06 1997 19:45)
@worldaccessnet.com
Panda: T'weren't me. .... Graves probably kicked over another rock again. You know how it is, another noncontributing lurker. Some of them, occaisionally, come down off a bad trip and coherence becomes difficult.

Este
(Fri Jun 06 1997 19:45)
on COT
COT for June 3rd available at http://www.cftc.gov/dea/cot.html

Este
(Fri Jun 06 1997 19:45)
on COT
COT for June 3rd available at http://www.cftc.gov/dea/cot.html

Earl
(Fri Jun 06 1997 19:45)
@worldaccessnet.com
Panda: T'weren't me. .... Graves probably kicked over another rock again. You know how it is, another noncontributing lurker. Some of them, occaisionally, come down off a bad trip and coherence becomes difficult.

Steve (Perth WA)
(Fri Jun 06 1997 19:47)
Impressed
Panda, top Long Bond chart! I presume after point 5 in a few months, it will blow out like during 1995!

Steve (Perth WA)
(Fri Jun 06 1997 19:47)
Impressed
Panda, top Long Bond chart! I presume after point 5 in a few months, it will blow out like during 1995!

tarnished
(Fri Jun 06 1997 19:52)
makin waves from Dinghy
Mooney: Your 13:41, I believe the reason you never mentioned anything about Ballard earlier, is because you didn't know anything about them.
A couple months back Earl, Ted and I were conversing about the useage of electric cars and the lack of requirement for catalytic converters if this should come to pass. After it was pointed out how archaic present
battery technology is I presented Ballard and Fuel cells as the more forward approach to the problem; following which you had nothing but questions. Please don't present yourself as the proprietor of information
which you gleaned from here.
As an addendum; The Chicago Transit Authority, Honda Motor Co. , Ford
and several other major auto and transport manufacturers, have signed contracts with Ballard as there chief souces of fuel cell technology.

tarnished
(Fri Jun 06 1997 19:52)
makin waves from Dinghy
Mooney: Your 13:41, I believe the reason you never mentioned anything about Ballard earlier, is because you didn't know anything about them.
A couple months back Earl, Ted and I were conversing about the useage of electric cars and the lack of requirement for catalytic converters if this should come to pass. After it was pointed out how archaic present
battery technology is I presented Ballard and Fuel cells as the more forward approach to the problem; following which you had nothing but questions. Please don't present yourself as the proprietor of information
which you gleaned from here.
As an addendum; The Chicago Transit Authority, Honda Motor Co. , Ford
and several other major auto and transport manufacturers, have signed contracts with Ballard as there chief souces of fuel cell technology.

ted butler
(Fri Jun 06 1997 20:00)
Chutzpah Award
Here's to that well known and long time platinum miner, palladium refiner and user, and all around PGM physical presence Dresdner Bank for their sincere ( we're only suggesting it for the greater good of the market ) call for the U.S. to release the strategic stockpile of Pt and Pa to calm down the disorderly ( going against us ) markets. I'm sure it has nothing to do with any short or lease obligations. Oh, I forgot, this is part of the original Marshall Plan. And here I thought we all had to eat our own losing trades.

Seriously though, I've read an awful lot of passionate discourse here about politics and social security and corporate and personal welfare, but I'm dumbfounded there is no outrage that a foreign bank would suggest a bailout so soon into a market move. I'm also taken back with the new definition of a cash transaction having delivery extended to 30 days ( let's see what happens in 30 days ) . I have to admit it sounds a lot better than default.

ted butler
(Fri Jun 06 1997 20:00)
Chutzpah Award
Here's to that well known and long time platinum miner, palladium refiner and user, and all around PGM physical presence Dresdner Bank for their sincere ( we're only suggesting it for the greater good of the market ) call for the U.S. to release the strategic stockpile of Pt and Pa to calm down the disorderly ( going against us ) markets. I'm sure it has nothing to do with any short or lease obligations. Oh, I forgot, this is part of the original Marshall Plan. And here I thought we all had to eat our own losing trades.

Seriously though, I've read an awful lot of passionate discourse here about politics and social security and corporate and personal welfare, but I'm dumbfounded there is no outrage that a foreign bank would suggest a bailout so soon into a market move. I'm also taken back with the new definition of a cash transaction having delivery extended to 30 days ( let's see what happens in 30 days ) . I have to admit it sounds a lot better than default.

WW
(Fri Jun 06 1997 20:17)
@New England
TED BUTLER: I believe an earlier post here indicated that Dresdner Bank was selected as a Dealer for US Treasuriies. Shortly after this they sold a boat load of GOLD 350 calls for 17 which expire in May 1998. Their worry re the White metals may be the contagion effect and since the problem in those Markets are PHYSICAL the paper boys cant do anything with their derivitives and in fact the derivitives are now working to make the situation worse. Whites keep rising might push up silver and gold and we know about the short position in those mkts.

Reason for pandering to China clear now BOC rumored to be big treasury buyer. After China and 34% of debt foreign owned our boys are becoming really indebted to overseas sources to keep the bubble going. We will see worse trade deals and NO demands on China.

Stk mkt rise and pressure on metals at end means they need to keep pumping the confidence drug when the economic situation has never been nor is it possible to imagine it being more precarious.

WW
(Fri Jun 06 1997 20:17)
@New England
TED BUTLER: I believe an earlier post here indicated that Dresdner Bank was selected as a Dealer for US Treasuriies. Shortly after this they sold a boat load of GOLD 350 calls for 17 which expire in May 1998. Their worry re the White metals may be the contagion effect and since the problem in those Markets are PHYSICAL the paper boys cant do anything with their derivitives and in fact the derivitives are now working to make the situation worse. Whites keep rising might push up silver and gold and we know about the short position in those mkts.

Reason for pandering to China clear now BOC rumored to be big treasury buyer. After China and 34% of debt foreign owned our boys are becoming really indebted to overseas sources to keep the bubble going. We will see worse trade deals and NO demands on China.

Stk mkt rise and pressure on metals at end means they need to keep pumping the confidence drug when the economic situation has never been nor is it possible to imagine it being more precarious.

Mike Sheller
(Fri Jun 06 1997 20:30)
we are very much amused
My thanks to all. A very entertaining and exciting week. Returning from Florida was well worth it. Nothing like a precious metal or two busting loose to make life worthwhile, eh? bw: 17:50 Existentialism comes to Kitco. Write On! Well Done. new kid: Keep Buyin'. You want to hold the cold metal in your hand! Bernatz, & Earl: Thanks for the laughs!!! BART: I think at this point you could charge a subscription fee. This is better than Methadone. And finally, thank you Platinum: What little of you I own has done me proud. It's nice to have SOMETHING in the old portfolio jumpin"!

REB
(Fri Jun 06 1997 20:30)
MJ.land
Ted Butler: what't that about Dresdner? Do you have a source for that? Very interesting. Thanks.

REB
(Fri Jun 06 1997 20:30)
MJ.land
Ted Butler: what't that about Dresdner? Do you have a source for that? Very interesting. Thanks.

Mike Sheller
(Fri Jun 06 1997 20:30)
we are very much amused
My thanks to all. A very entertaining and exciting week. Returning from Florida was well worth it. Nothing like a precious metal or two busting loose to make life worthwhile, eh? bw: 17:50 Existentialism comes to Kitco. Write On! Well Done. new kid: Keep Buyin'. You want to hold the cold metal in your hand! Bernatz, & Earl: Thanks for the laughs!!! BART: I think at this point you could charge a subscription fee. This is better than Methadone. And finally, thank you Platinum: What little of you I own has done me proud. It's nice to have SOMETHING in the old portfolio jumpin"!

Earl
(Fri Jun 06 1997 20:40)
@worldaccessnet.com
bw: I vividly remember part I of the Greenspan saga and heartily second Vronsky's comments. .... When seized by the creative itch, please pass part III along.

Earl
(Fri Jun 06 1997 20:40)
@worldaccessnet.com
bw: I vividly remember part I of the Greenspan saga and heartily second Vronsky's comments. .... When seized by the creative itch, please pass part III along.

WW
(Fri Jun 06 1997 20:48)
@New England
Hypothetical Ques for any Metals Markets Technical experts. The following is a hypothetical situation and I would like to know if there are any risks and if so what are they.

HYPOTHETICAL:

PrecM Co. has 7 million ounces of mineable reserves in gold. 3 million of these are in the development process and will come on line next year.
The company is currently producing 200,000 ozs per year and this will ramp up hopefully to 350,000 when the mine in development comes on board.The company will produce only 200,000 this year but has sold call options on current years production of 400,000 ozs with a strike price of 390. All spot deferreds are being covered for this year and future years so the short options are the only hedge. If Gold suddenly goes to 450 THIS YEAR are there any risks and if so what are they? The co says there are none because they can "roll forward". Viewing the white metals this week is their statement accurate and/or does their future reserves and production adequately protect them?

Thanks

WW
(Fri Jun 06 1997 20:48)
@New England
Hypothetical Ques for any Metals Markets Technical experts. The following is a hypothetical situation and I would like to know if there are any risks and if so what are they.

HYPOTHETICAL:

PrecM Co. has 7 million ounces of mineable reserves in gold. 3 million of these are in the development process and will come on line next year.
The company is currently producing 200,000 ozs per year and this will ramp up hopefully to 350,000 when the mine in development comes on board.The company will produce only 200,000 this year but has sold call options on current years production of 400,000 ozs with a strike price of 390. All spot deferreds are being covered for this year and future years so the short options are the only hedge. If Gold suddenly goes to 450 THIS YEAR are there any risks and if so what are they? The co says there are none because they can "roll forward". Viewing the white metals this week is their statement accurate and/or does their future reserves and production adequately protect them?

Thanks

nailz
(Fri Jun 06 1997 20:58)
@QUESTION FOR MIKE SHELLER
MIKE SHELLER..Did you see my earlier question to you ?????Do you have an up to date astro-forcast on silver ????Would you mind posting it if you do ????? Particularly for next couple of weeks.....

nailz
(Fri Jun 06 1997 20:58)
@QUESTION FOR MIKE SHELLER
MIKE SHELLER..Did you see my earlier question to you ?????Do you have an up to date astro-forcast on silver ????Would you mind posting it if you do ????? Particularly for next couple of weeks.....

Reify
(Fri Jun 06 1997 21:00)
@Some things remain the same
Enjoy reading everyone's post, and have great respect for most, but one has to have faith in himself ( or herself ) , and I think what's important at this time is to step back and look at the overall picture. The large one. It's worth a 1000 words!

As Jimmy Rogers often points out, don't look at what everyone reads and sees, look at the trend and what it says about the future. Well let's do that. We have low inflation, we're told ( I think the true inflation picture is hidden behind a mountain, and that mountain is the DEBT ) .
Then let's look at the world's stock markets, they are all at extremely high levels, do we agree, so far?
Now there's the question of precious metals, which have always gone in the opposite direction, on a cyclical basis, and low and behold, we see they are very low, and on a several year basis, let's say as far back as 1982, they look like a gigantic base is forming. This also being true for precious metal stocks. Sure we've been in a bear market in these stocks, but what comes after a bear, you've guessed it- A BULL, and that' no bull.
Now for the traders. We have several, who have made excellent calls, no need to mention names, we all read the same posts. This fool has tried and failed, playing the trading game. I wonder with all the lovely stories of success, after Uncle Sam, or whomever, get's his cut and commisions are paid, and the losses are subtracted from the gains, how many can say, they are truly ahead in the long run???
Right again, not too many.

So for most of us we have to look to buy wisely, whatever that means, and sit and watch our profits acumulate over time. If not ours, then our children and grandchildren's. This having been said, we all know that looking into the future, with all the givens, Markets will tumble Gibralta will crumble, they're only made of clay, but our love is here to stay. VIVE, VIVA, long live GOLD!

Sorry, but I'm overly tired, and one sometimes sees things better, or worse, at night.

ted butler
(Fri Jun 06 1997 21:00)
Dresdner source
REB: I read the story a few times over the past day or so. One source I just checked was yahoo-REUTERS 4:21.

ted butler
(Fri Jun 06 1997 21:00)
Dresdner source
REB: I read the story a few times over the past day or so. One source I just checked was yahoo-REUTERS 4:21.

Reify
(Fri Jun 06 1997 21:00)
@Some things remain the same
Enjoy reading everyone's post, and have great respect for most, but one has to have faith in himself ( or herself ) , and I think what's important at this time is to step back and look at the overall picture. The large one. It's worth a 1000 words!

As Jimmy Rogers often points out, don't look at what everyone reads and sees, look at the trend and what it says about the future. Well let's do that. We have low inflation, we're told ( I think the true inflation picture is hidden behind a mountain, and that mountain is the DEBT ) .
Then let's look at the world's stock markets, they are all at extremely high levels, do we agree, so far?
Now there's the question of precious metals, which have always gone in the opposite direction, on a cyclical basis, and low and behold, we see they are very low, and on a several year basis, let's say as far back as 1982, they look like a gigantic base is forming. This also being true for precious metal stocks. Sure we've been in a bear market in these stocks, but what comes after a bear, you've guessed it- A BULL, and that' no bull.
Now for the traders. We have several, who have made excellent calls, no need to mention names, we all read the same posts. This fool has tried and failed, playing the trading game. I wonder with all the lovely stories of success, after Uncle Sam, or whomever, get's his cut and commisions are paid, and the losses are subtracted from the gains, how many can say, they are truly ahead in the long run???
Right again, not too many.

So for most of us we have to look to buy wisely, whatever that means, and sit and watch our profits acumulate over time. If not ours, then our children and grandchildren's. This having been said, we all know that looking into the future, with all the givens, Markets will tumble Gibralta will crumble, they're only made of clay, but our love is here to stay. VIVE, VIVA, long live GOLD!

Sorry, but I'm overly tired, and one sometimes sees things better, or worse, at night.

Earl
(Fri Jun 06 1997 21:05)
@worldaccessnet.com
Some interesting numbers from Mr Kaplans daily update on COT report for white metals. For both PL and PA, the conventional wisdom has been reversed. The commerials were net short and the specs net long in both cases.

Earl
(Fri Jun 06 1997 21:05)
@worldaccessnet.com
Some interesting numbers from Mr Kaplans daily update on COT report for white metals. For both PL and PA, the conventional wisdom has been reversed. The commerials were net short and the specs net long in both cases.

M-B
(Fri Jun 06 1997 21:08)
Partner
Tarnished: I'm following the Ballard story with interest. Could you provide support/documentation for your assertion that Honda and Ford have "signed contracts with Ballard as there chief souces of fuel cell technology."

M-B
(Fri Jun 06 1997 21:08)
Partner
Tarnished: I'm following the Ballard story with interest. Could you provide support/documentation for your assertion that Honda and Ford have "signed contracts with Ballard as there chief souces of fuel cell technology."

D.A.
(Fri Jun 06 1997 21:10)
an.off.the.wall.thought
All:

Having not had a lot of sleep the last few days I offer the following delusion. Some weeks back, there was a rumor in the market that the Russians wanted to use their PGM stockpile as collateral for a loan. The story goes that because the PGM's are so illiquid it would be hard to price and hedge paper based on this stuff, so the Swiss bankers that were approached said nyet or whatever Swiss bankers say. Suppose for a moment that this was true. The Russians were looking to borrow against their PGM inventory instead of dumping it on the market because they knew that over time it would be worth more than at a one time fire sale. After having been rebuffed they took the only course of action available. Freeze all exports, allow the miracle of supply and demand to work its magic, then when the world has reaccessed the value of PGM's go back to the market and ask again. Who know's, maybe they still have a big stockpile and will trade it for some useless but less volatile backing such as gold. Maybe in exchange for a big old pile of PGM's that is desparately needed, they will get themselves a big old pile of gold that no one seems to want. Could be the Russians are getting the hang of this free market stuff a lot faster than anyone thinks.

Bart's article seems to set the clock ticking for the PGM market. Far too much political pressure will brought to bear upon anyone with stockpiles if it means the shutdown of the auto industry. I wonder if old Ron Rubin will be on the phone this weekend with his buddy Julian Roberts. I'd like to have that transcript!

D.A.
(Fri Jun 06 1997 21:10)
an.off.the.wall.thought
All:

Having not had a lot of sleep the last few days I offer the following delusion. Some weeks back, there was a rumor in the market that the Russians wanted to use their PGM stockpile as collateral for a loan. The story goes that because the PGM's are so illiquid it would be hard to price and hedge paper based on this stuff, so the Swiss bankers that were approached said nyet or whatever Swiss bankers say. Suppose for a moment that this was true. The Russians were looking to borrow against their PGM inventory instead of dumping it on the market because they knew that over time it would be worth more than at a one time fire sale. After having been rebuffed they took the only course of action available. Freeze all exports, allow the miracle of supply and demand to work its magic, then when the world has reaccessed the value of PGM's go back to the market and ask again. Who know's, maybe they still have a big stockpile and will trade it for some useless but less volatile backing such as gold. Maybe in exchange for a big old pile of PGM's that is desparately needed, they will get themselves a big old pile of gold that no one seems to want. Could be the Russians are getting the hang of this free market stuff a lot faster than anyone thinks.

Bart's article seems to set the clock ticking for the PGM market. Far too much political pressure will brought to bear upon anyone with stockpiles if it means the shutdown of the auto industry. I wonder if old Ron Rubin will be on the phone this weekend with his buddy Julian Roberts. I'd like to have that transcript!

ACW
(Fri Jun 06 1997 21:56)
wisdom@cyberstation.net
Tortfeaser, et al:

Awarenessly Challenged Golden Blond Jokes...

Q: What do you call a dead golden blond in a closet?
A: The 1984 Hide and Seek World Champion.

Q: What do you call a smart blond?
A: A golden retriever.

Q: How does a blond kill a fish?
A: She drowns it.

Q: What do you do when a blonde throws a pin at you?
A: Run ....she's got a hand grenade in her mouth.

Q: What is the blonde doing when she holds her hands tightly
over her ears?
A: Trying to hold on to a thought.

Q: Why did the blonde stare at frozen orange juice can for two hours?
A: Because it said 'concentrate'.

Q: Why did the blonde climb up to the roof of the bar?
A: She heard that the drinks were on the house.

Q: What's the difference between Elvis and smart blondes?
A: Elvis has been sighted.

Q: What did the blonde do when she noticed that someone had already
written on the overhead transparency?
A: She turned it over and used the other side.

Q: How do you get a one-armed blonde out of a tree?
A: Wave to her.

Q: How does a blonde high-5?
A: She smacks herself in the forehead.

Q: How do you know when a blonde has been making chocolate chip
cookies?
A: You find M&M shells all over the kitchen floor.

Q: Do you know why the blonde got fired from the M&M factory?
A: She kept throwing out all the "W"s

Q: How can you tell if a blonde's been using the computer?
A: There's white-out on the screen.

Q: How can you tell if another blonde's been using the computer?
A: There's writing on the white-out.

Q: How can you tell when a fax had been sent from a blonde?
A: There is a stamp on it.

Q: Why do all blondes have a dimple in their chin and a flat
forehead?
A: Finger on chin-"I don't know". Hits forehead-"Oh I get it!"

Q: Why did the blonde scale the chain-link fence?
A: To see what was on the other side.

BLONDE #1: "Have you ever read Shakespeare?"
BLONDE #2: "No, who wrote it?"




ACW
(Fri Jun 06 1997 21:56)
wisdom@cyberstation.net
Tortfeaser, et al:

Awarenessly Challenged Golden Blond Jokes...

Q: What do you call a dead golden blond in a closet?
A: The 1984 Hide and Seek World Champion.

Q: What do you call a smart blond?
A: A golden retriever.

Q: How does a blond kill a fish?
A: She drowns it.

Q: What do you do when a blonde throws a pin at you?
A: Run ....she's got a hand grenade in her mouth.

Q: What is the blonde doing when she holds her hands tightly
over her ears?
A: Trying to hold on to a thought.

Q: Why did the blonde stare at frozen orange juice can for two hours?
A: Because it said 'concentrate'.

Q: Why did the blonde climb up to the roof of the bar?
A: She heard that the drinks were on the house.

Q: What's the difference between Elvis and smart blondes?
A: Elvis has been sighted.

Q: What did the blonde do when she noticed that someone had already
written on the overhead transparency?
A: She turned it over and used the other side.

Q: How do you get a one-armed blonde out of a tree?
A: Wave to her.

Q: How does a blonde high-5?
A: She smacks herself in the forehead.

Q: How do you know when a blonde has been making chocolate chip
cookies?
A: You find M&M shells all over the kitchen floor.

Q: Do you know why the blonde got fired from the M&M factory?
A: She kept throwing out all the "W"s

Q: How can you tell if a blonde's been using the computer?
A: There's white-out on the screen.

Q: How can you tell if another blonde's been using the computer?
A: There's writing on the white-out.

Q: How can you tell when a fax had been sent from a blonde?
A: There is a stamp on it.

Q: Why do all blondes have a dimple in their chin and a flat
forehead?
A: Finger on chin-"I don't know". Hits forehead-"Oh I get it!"

Q: Why did the blonde scale the chain-link fence?
A: To see what was on the other side.

BLONDE #1: "Have you ever read Shakespeare?"
BLONDE #2: "No, who wrote it?"




RJ
(Fri Jun 06 1997 22:07)
rjd@pacbell.net
Mooney - I am never offended by a reasonable challenge. Re my .23:26, this was a REPOST to make up for appalling sloppy, non-spell checked priors. Originally posted PGM info 23 hours earlier 6/5/97 00:26 ( 6/4/97 9:36 PDT, PL $422 spot with most looking for a pullback ) . I agree with you however, hardly a bold call. More like bold conviction. Looked for $475 in June - $477 spot today, expected $250 palladium by Friday - missed by $2, $248 London spot.

RJ
(Fri Jun 06 1997 22:07)
rjd@pacbell.net
Mooney - I am never offended by a reasonable challenge. Re my .23:26, this was a REPOST to make up for appalling sloppy, non-spell checked priors. Originally posted PGM info 23 hours earlier 6/5/97 00:26 ( 6/4/97 9:36 PDT, PL $422 spot with most looking for a pullback ) . I agree with you however, hardly a bold call. More like bold conviction. Looked for $475 in June - $477 spot today, expected $250 palladium by Friday - missed by $2, $248 London spot.

MR. BEAR
(Fri Jun 06 1997 22:10)
@ the cave
MoreGold : I think you would be wise to discontinue your current chart service because I see no VERY bullish action on my charts. GOLD HAS GONE DOWN IN PRICE SINCE THE BRE-X BULLISH NEWS BROKE.
RE: Fri jun 06 1997 14:41
You actually listed one which is VERY bullish for Gold - the Bre-x washout. The markets had already discounted Bre-x comming on line with 71 to 200 million ounces of Gold. This False Gold then evaporated into thin air. This is bullish not bearish.


Roebear
(Fri Jun 06 1997 22:10)
@Hershey
Here's URL for a "sand" platinum play. Did 20% today on half position, OK for a day, warning - speculative speculative. Supposed to be an article in Barons about it.
http://www.gpgi.com/

Roebear
(Fri Jun 06 1997 22:10)
@Hershey
Here's URL for a "sand" platinum play. Did 20% today on half position, OK for a day, warning - speculative speculative. Supposed to be an article in Barons about it.
http://www.gpgi.com/

MR. BEAR
(Fri Jun 06 1997 22:10)
@ the cave
MoreGold : I think you would be wise to discontinue your current chart service because I see no VERY bullish action on my charts. GOLD HAS GONE DOWN IN PRICE SINCE THE BRE-X BULLISH NEWS BROKE.
RE: Fri jun 06 1997 14:41
You actually listed one which is VERY bullish for Gold - the Bre-x washout. The markets had already discounted Bre-x comming on line with 71 to 200 million ounces of Gold. This False Gold then evaporated into thin air. This is bullish not bearish.


Tortfeasor
(Fri Jun 06 1997 22:33)
Basketball
Jazz chewing on some Bull gluteous maximus at halftime. Malone special delivering tonight.

Tortfeasor
(Fri Jun 06 1997 22:33)
Basketball
Jazz chewing on some Bull gluteous maximus at halftime. Malone special delivering tonight.

Post Office
(Fri Jun 06 1997 22:34)
Salt Lake City

Mail will be delivered on time.

Post Office
(Fri Jun 06 1997 22:34)
Salt Lake City

Mail will be delivered on time.

Post Office
(Fri Jun 06 1997 22:36)
SLC

Tortfeasor: Great minds post alike!

Post Office
(Fri Jun 06 1997 22:36)
SLC

Tortfeasor: Great minds post alike!

panda
(Fri Jun 06 1997 22:51)
@for.the.record
I'm sure most have read these stories already, but for the 'record';

How prophetic,gold crashing, er, I mean in a plane crash...
http://biz.yahoo.com/finance/97/06/06/y0002_y00_2.html

speaking of auto emissions,

http://biz.yahoo.com/finance/97/06/06/y0023_9.html

http://biz.yahoo.com/finance/97/06/06/c_f_gm_y0_1.html

panda
(Fri Jun 06 1997 22:51)
@for.the.record
I'm sure most have read these stories already, but for the 'record';

How prophetic,gold crashing, er, I mean in a plane crash...
http://biz.yahoo.com/finance/97/06/06/y0002_y00_2.html

speaking of auto emissions,

http://biz.yahoo.com/finance/97/06/06/y0023_9.html

http://biz.yahoo.com/finance/97/06/06/c_f_gm_y0_1.html

RJ
(Fri Jun 06 1997 22:52)
Alas Auric
Auric - Re your 02:14 in response to my "at odds" of 01:58 - This was actually a reply to the kind welcome I received from Goldbug 234513 ( 6/6/97 01:27 ) . By the way, what happened to the first 234,512 Goldbugs? This latest in what looks to be a rather long line of Goldbugs ( inbreeding? ) was apparently not satisfied that I corrected my own typo. Sometimes the fingers find the right key, sometimes the key right next to it, and thus our "talent" in apprised. I guess I am always surprised when humor is met with acrimony, when gentle jousting is met with slash and burn.
I regret you felt misunderstood and the fault is entirely mine for not replying to Monsieur Goldbugger directly.

That said, in response to your concerns about being in "over you head", arent we all? Who know what this market will do tomorrow? Not I. As for the near term prospects for gold, please understand that I view gold less as an investment or hedge against inflation, rather than a hedge against my more speculative buys. I am forever looking to short gold against my longs whenever the opportunity presents. The risk is minimal and the protection great.

I own gold. I am as susceptible as anyone to its allures. I love the way it glows and the way I gets warm so quickly in the palm of my hand. Like most, I have a special place in my heart for gold. I also love to sell it into the dirt and let others test their patience in its eventual rise.

Again, I apologize for the slight and the misunderstanding.

RJ
(Fri Jun 06 1997 22:52)
Alas Auric
Auric - Re your 02:14 in response to my "at odds" of 01:58 - This was actually a reply to the kind welcome I received from Goldbug 234513 ( 6/6/97 01:27 ) . By the way, what happened to the first 234,512 Goldbugs? This latest in what looks to be a rather long line of Goldbugs ( inbreeding? ) was apparently not satisfied that I corrected my own typo. Sometimes the fingers find the right key, sometimes the key right next to it, and thus our "talent" in apprised. I guess I am always surprised when humor is met with acrimony, when gentle jousting is met with slash and burn.
I regret you felt misunderstood and the fault is entirely mine for not replying to Monsieur Goldbugger directly.

That said, in response to your concerns about being in "over you head", arent we all? Who know what this market will do tomorrow? Not I. As for the near term prospects for gold, please understand that I view gold less as an investment or hedge against inflation, rather than a hedge against my more speculative buys. I am forever looking to short gold against my longs whenever the opportunity presents. The risk is minimal and the protection great.

I own gold. I am as susceptible as anyone to its allures. I love the way it glows and the way I gets warm so quickly in the palm of my hand. Like most, I have a special place in my heart for gold. I also love to sell it into the dirt and let others test their patience in its eventual rise.

Again, I apologize for the slight and the misunderstanding.

panda
(Fri Jun 06 1997 22:57)
@
Quotes to live by? Where do they make up some of these words anyway?

``I don't believe South African producers have stocks of metal,'' said Barry Davison, the managing director of Amplats, the world's largest supplier.

``I don't think relief can come from here. The relief can only come from a resumption of Russian supplies and dishoarding of the metal.''

Dishoarding? What MBA came up with that one? I think I have to get a new dictionary.

panda
(Fri Jun 06 1997 22:57)
@
Quotes to live by? Where do they make up some of these words anyway?

``I don't believe South African producers have stocks of metal,'' said Barry Davison, the managing director of Amplats, the world's largest supplier.

``I don't think relief can come from here. The relief can only come from a resumption of Russian supplies and dishoarding of the metal.''

Dishoarding? What MBA came up with that one? I think I have to get a new dictionary.

RJ
(Fri Jun 06 1997 23:11)
rjd@pacbell.net
Consider today to be a dip in platinum, I have purchased what I can and still be considered sane. Trading ground to a halt midday as buyers found no sellers, at any price. If the Russians delivered all they had today, it would be snapped up in a flash. Did anyone notice coin spreads are lower that bullion spreads? When has that ever been seen? That's because it costs more to melt down coins for industrial use. Yes, we have reached the point when private investor platinum holdings ( only 8% of all aboveground platinum in private hands ) are being considered fodder for the cannon. Platinum is a rhino and, like all charging beasts, the safer location is behind it rather than charging up it's nostrils.

RJ
(Fri Jun 06 1997 23:11)
rjd@pacbell.net
Consider today to be a dip in platinum, I have purchased what I can and still be considered sane. Trading ground to a halt midday as buyers found no sellers, at any price. If the Russians delivered all they had today, it would be snapped up in a flash. Did anyone notice coin spreads are lower that bullion spreads? When has that ever been seen? That's because it costs more to melt down coins for industrial use. Yes, we have reached the point when private investor platinum holdings ( only 8% of all aboveground platinum in private hands ) are being considered fodder for the cannon. Platinum is a rhino and, like all charging beasts, the safer location is behind it rather than charging up it's nostrils.

RJ
(Fri Jun 06 1997 23:17)
rj@pacbell.net
Some may be surprised that I do most of my trading in silver, which currently is, at best, a PGM wannbe. P & P are the story now, I hope I do not bore. As for Gold see my 22:52

RJ
(Fri Jun 06 1997 23:17)
rj@pacbell.net
Some may be surprised that I do most of my trading in silver, which currently is, at best, a PGM wannbe. P & P are the story now, I hope I do not bore. As for Gold see my 22:52

RJ
(Fri Jun 06 1997 23:22)
rj@pacbell.net
Read prior as wannabe. This is what happens to a brain after swimming for 72 hours in a short squeeze. Time to go have a weekend.

RJ
(Fri Jun 06 1997 23:22)
rj@pacbell.net
Read prior as wannabe. This is what happens to a brain after swimming for 72 hours in a short squeeze. Time to go have a weekend.

TED
(Fri Jun 06 1997 23:49)
@capebreton
In Tort's honor the Mailman delivered!...

TED
(Fri Jun 06 1997 23:49)
@capebreton
In Tort's honor the Mailman delivered!...

Auric
(Fri Jun 06 1997 23:52)
@Still buying

RJ @ 22:52-Thanks. No apology necessary. It would
be a duller place here if everyone agreed. IMHO,
keep up the posts, they are appreciated.

Auric
(Fri Jun 06 1997 23:52)
@Still buying

RJ @ 22:52-Thanks. No apology necessary. It would
be a duller place here if everyone agreed. IMHO,
keep up the posts, they are appreciated.

Mooney
(Fri Jun 06 1997 23:59)
moonstep@idirect.com
Tarnished @ 19:34 - Your post is looking a little bit blackened to me ( tarnished ) with self-righteous accusations. Now that you mention it I do recall that you ( or someone ) had mentioned the fuel cell issue previously. And perhaps I did ask questions. ( Due no doubt to the fact that I was interested! ) . Seems to me that I even requested that the party who posted might e-mail me in private so that we could begin a meaningful discussion in private. This offer was never acted upon. Your pompous remarks are therefore unfounded and unwarranted. As I stated in my recent post, I am very interested in the company and DID e-mail various Friends about the possibilities of the company about a month and a half ago ( when the stock could be had for about $35. ) This was NOT due to any spurious comments that were made by you or others on this forum. I am much more closely aligned with first hand information on this particular issue than you give me credit for, and if the truth be known, ( please review your desultory comments to me ) , you owe me a heart-felt apology for your unfounded remarks. If you require further evidence before issuing me an apology you are free to take up the offer that I made a couple of months ago and e-mail me directly.

As Bart has mentioned to us all: "Please Note: For your protection, please do not post any comments...that are accusing, harassing or defamatory. It is your duty as an information provider to verify the accuracy and legality of the content you are providing and to accept liability for any actionable defamation or objectionable material which you may provide."
I realise that this warning may seem a little severe in the present circumstance but it should serve as a reminder to all here that sometimes we push the submit button before we have actually thought about the accuracy and truth about what we post.

Mooney
(Fri Jun 06 1997 23:59)
moonstep@idirect.com
Tarnished @ 19:34 - Your post is looking a little bit blackened to me ( tarnished ) with self-righteous accusations. Now that you mention it I do recall that you ( or someone ) had mentioned the fuel cell issue previously. And perhaps I did ask questions. ( Due no doubt to the fact that I was interested! ) . Seems to me that I even requested that the party who posted might e-mail me in private so that we could begin a meaningful discussion in private. This offer was never acted upon. Your pompous remarks are therefore unfounded and unwarranted. As I stated in my recent post, I am very interested in the company and DID e-mail various Friends about the possibilities of the company about a month and a half ago ( when the stock could be had for about $35. ) This was NOT due to any spurious comments that were made by you or others on this forum. I am much more closely aligned with first hand information on this particular issue than you give me credit for, and if the truth be known, ( please review your desultory comments to me ) , you owe me a heart-felt apology for your unfounded remarks. If you require further evidence before issuing me an apology you are free to take up the offer that I made a couple of months ago and e-mail me directly.

As Bart has mentioned to us all: "Please Note: For your protection, please do not post any comments...that are accusing, harassing or defamatory. It is your duty as an information provider to verify the accuracy and legality of the content you are providing and to accept liability for any actionable defamation or objectionable material which you may provide."
I realise that this warning may seem a little severe in the present circumstance but it should serve as a reminder to all here that sometimes we push the submit button before we have actually thought about the accuracy and truth about what we post.