"In conclusion, you asked me why I have not contacted you in the past. The reason is quite simple: you have not become the type of person I want to be involved with...yet. I gather you are younger than me [sic]...and I sense you are on your way there. When you "get there," then no doubt, we could be the best of friends."
With these condescending words you concluded a lecture in which you said in effect: "Whereas RJ is a great intellect with no heart, I am a great intellect with a big heart." How you presume to know so much about RJ's supposedly undeveloped heart is beyond me, but nothing I have seen of RJ's is as heartless ( or reveals as much confusion about the nature of true friendship ) as the words I have quoted above.
-Tom
Sorry folks, but I had to get that off my chest.
Use this handy tool for the French web-page translations:
http://babelfish.altavista.digital.com/cgi-bin/translate?
mozel ( @Lord Rees Moog ) ID#153102:
was quite outspoken about the ECB nomination. But, why ? Was it because the rule of law, the Maastrich Treaty, was apparently violated by accommodation of the French demand ? Or because the demand was French ? Or was it because the English were hoping the whole thing would scuttle and now it appears it won't ?
_____________________________
I don't think it was because he wanted the whole thing to scuttle. But the first two points are correct. He makes that clear in his editorial. He is also angry with the Blair goverment for not standing up to the French and because this decision politicizes the chairmanship and the running of the ECB which was supposed to be non political according to the Maastricht Treaty.
In addition, even though they have not fought against each other for many years, the Brits and the French still harbor a tremendous amount of mutual disdain for each other as well as each countries' national character and political system.
http://www.the-times.co.uk:80/news/pages/Times/frontpage.html?1734745
registration required
JD -
Sounds as if your wife's ancestors share a lot with my own. Not the religious aspect, but mine too were thrown own of some of the best countries on earth. With no dough. Came here, learned the language, assimilated. Became Americans, not some hyphenated version thereof.
Russell is not Jewish is he? Since he is not you brother, and you are not Jewish, nor is he in Toronto, it seems possible. He is probably not offended either.
Sell your palladium and buy something. Damnit man! I don't know what, just buy SOMETHING.
The bulls will feel better then.
They will
Yes
The time to buy platinum was an hour ago........
Yes
Perhaps we may look at gold as filling the gap Friday?
A hold here would add strength
And ease worries hereabouts
Yes
We do have to beware one serious item about the transition to the EURO. Consolidation of reserves from many countries to one 'country' -- the EURO will mean that less total reserves will be needed. I have no solid mathematical proof of that -- only a very strong suspicion. Now -- if those reserves to be sold are dollars, that means one thing. If the reserves to be sold are gold, that means quite another.
I think the anti-gold fiat currency spinmeisters are losing ground slowly, just as they were in the 60's and early 70's.
My guess is that our weakened gold rally will wobble for a while, and then continue to steadily rise. If Oldman is right about a s
rtrong market rally for a while, that will strength gold/gold bullion.
The only item we must watch for is a major China devaluation, and its bvearish effect on gold bullion prices. The mainland Chinese are getting nervous again about too much freedoms, with Tianamin Square and May day fresh on their minds.
Steady as she goes, but with a close watch ahead.
sharefin -- please excuse my nautical terminology -- I have been the captain of a 40' Yawl for only the equivalent of a few days at sea. Did dock one of these in a congested marina with no motor -- just the wind and a prayer.
I am not so sure -- first because much of the money lost is European and American money -- 1 trillion or so without China's debt. Only part is Asian. Secondly, the Asians are now going through their deflationary belt-tightening, and their economies will be the better for it, despite the current hardships.
When our time comes, Asia will be much stronger economically than it is now.
By the way - I just saw a Hewlett Packard 233mHz Pentium II for $999 US -- 32 mb ram, 6mb hard disk, 56kbaud modem, 24x cdrom - and ( I think ) without VGA monitor ( $179 for 15", SVGA ) . DIMM 10 ns ram at nearly $1/megabyte.
Are computer prices going lower than this? Or, have we hit bottom?
away...to find a good wedgie.... ( mmmmm ) .
Questor, Good Question - re how much gold or other PM are in private hands. The Klintonistas are quite ready and capable of trying to confiscate it. As was pointed out here earlier they would have one heck of a fight on their hands but that would only give them cause to justify going after guns too. There is much to be said for not spending money we have worked hard to obtain on goods that will be confiscated anyway - be it gold, platinum, silver, guns, ammo or canned goods. But also as was pointed out earlier here - a lot of gold coins survived FDR - caches of them continue to be found. We hope Klinton would not try; it - but in a powerplay to bait the hidden survivalists, patriot groups and gun nuts - his record shows he may very well try. God help us all!
Nick on Mon Apr 27 1998 05:35 wrote:
Every now and then I get out a five ounce bar. I hold it gently and caress it. I think of where it has been, who may have previously owned it, the hardships required to find,mine,& refine it--the fact that if I were a Vietnamese boatperson on the way to Oz, or a Jew fleeing Nazi persecution, or one of countless persons in trouble who needed value in a small, beautiful, portable package...
Squirrel on Thu Apr 30 1998 19:40 wrote:
One edict from on high can nationalize and confiscate all our gold, silver, guns, ammo, food, etc. for the "general welfare". All we have worked for will be GONE! And those of us who are known gold bugs, gun nuts and food squirrels ( because of our activity on the Net, periodical subscriptions. book purchases, and what we checked out at the library ) --- our doors will be the first ones knocked upon ( or down ) .
Digdeep on Thu Apr 30 1998 19:51 wrote:
I remember watching on t.v. about a year and a half ago or so a interview with a old jewish man who survived the death camps. He was asked why they did not fight back when they were in the getto and before, he said BECAUSE WE HAD NO WEAPONS. They made the mistake of letting the nazi's register and then confiscate their guns. Americans must remember this lesson.
Open-Loop on Thu Apr 30 1998 19:52 wrote:
I do fear your scenario in the future but I also think that if they were to call the guns alone the feds would run out of confiscators very quickly and would draw fire everywhere they showed up. The executive orders you speak of are real and could be enacted at any time. A good excuse could be Y2K. Gee the gold confiscation in the 30's worked real well huh!? There are tons of double eagles out there that should have grabbed but were not. It would be very ugly though...
Squirrel on Sun May 03 1998 01:50 wrote:
Some critters laze in the sunshine, some plan to walk through the valley of death, while the squirrels get ready for winter. Unlike tolerant1, silence {in that respect} is GOLDEN - that is how you can tell which nuts will sprout in the spring and which ones the worms will get. The GOLDEN CATERPILLARS have much wisdom to share - that is why I am here.
Asked about implications of the recent EU controversy, Wallace added, "That means nothing, really. Keep your eye on Kitco, short the sniping, go long on a good clean Tortfeasor joke. If you see 8 of 10 posts in a row on Y2K, bail."
GianniDioro: A Chinese 'Revaluation' is inevitable, I think. Just last week the Yuan ( or Remenbi? ) was trading 7% or so less below official rates on the Black Market. And -- it looks like the authorities are getting nervous about letting Chinese form public groups of any kind. Democracy over there seems to be weakening somewhat. That with the high likelihood of yet another Chinese cyclic 'boom' going 'bust' -- makes me think that something is up.
Gold: My concern is not with the mainland Chinese authorities selling gold -- they probably will not for any reason. My concern is with Hong Kong, or other SEAsian countries, if China 'revalues' I doubt that gold will go below $280/oz, but it might dip down there if China revalues significantly. They do not have alot to lose, as they are so big the 'jilted' investors will come back later for the opportunity to trade with China. And -- most of the debt is foreign sponsored. Gold will be an excellent buy after the dust settles.
All: One little tidbit on the ZPE business. It seems that the ZPE, existence proven by the measurement of the Casimir effect, is the 'Aether' Einstein and Michelson were looking for. It is also the source of the primordial creative energy of the Universe, and this matter creation/destruction from the Aether still seems to be happening at a low level -- probably the source of the 'dark matter'. One reason the Aether was so hard to find is that it cannot be described by Classical Physics -- it is a 'Quantum Superfluid', in analogy with Helium III, etc. This reborn Aether has momentum, but is chargeless, and massless, and is viscosity-free. It is also fairly tightly attached to matter, so that one cannot accelerate without the other. This much I understand so far.
Once we understand the quantum superfluid properties of the Aether, we will be able to detect it more reliably, and manipulate inertia and gravity. Then the stars will be ours.
OK
And Gold? Hmmmm....haven't a clue......plat is good food though....not knee deep any longer....I am belly-button deep..........and it feels goooooooooood.
OK
away...for a time, YES.
EBellyDancer
Before I start, let me note that I have no London closing data for Monday May 4. Either it wasn't open, or Kitco didn't post the closings. I suspect the former, as I can't find any other references to the closings. So, I estimated what they might have been, by spot action in the States. Finally, the last data point is the closing spot price in the States. I did this, rather than waiting for tomorrow's London afternoon fixes, because those of you that pay attention to these channels charts should be alerted.
Gold - As previously mentioned, I was very surprised that gold did not reach the top of the channel that I had defined, before starting back down. This has caused me to question the validity of the channel. I looked for an alternative, and found one. This channel is shown in dotted lines. The channel top is defined by the last two tops, and the bottom is defined by the low earlier this year. This is still an upward channel, but allows gold to fall to around 290, whereas the earlier channel bottoms out just under 300. Of course, at present, gold is still holding within both channels, so we won't know which is valid ( if either ) until the POG touches one extreme or the other. Personally, I finally decided to hedge my bets and took profits on roughly half of my gold stock holdings. Now I am kind of hoping that the new channel applies, as I will be able to buy back at much lower prices.
Silver - Who knows? I'm not really confident in this channel. But it's my best guess. I'll want to see where the other metals are headed before I bet big on silver.
Platinum - EB, just so you won't feel quite so comfortable standing in platinum "up to your belly button", it appears to me that there is a good chance platinum will break through the channel bottom and head down. In fact, it appears that the breakout has occured already. However, I lack confirming London data. Just in case, I have shown an alternative channel in dotted lines. This channel heads steeply downward, and allows platinum to drop to 370-375, depending on how quickly it gets there. I started questioning platinum when it failed to make a new high when palladium went to the sky. I saw this as very bearish action. Then platinum fell through the previous support in the low 400's like it wasn't even there. Now platinum is pushing the channel bottom, while palladium is still quite high, though falling. I just can't see platinum rising while palladium is falling, and I do expect palladium to fall. Then there is today's anemic action. Platinum failed to break yesterday's high, but made new recent lows. Though the closing was a bit higher than yesterday's, this action looks weak to me. One other point. Look at the head-and-shoulders pattern in SWC. Looks classic to me. Personally, I had tight stops in place, which PL hit today. I'm out. I'll wait to see which way it is going. I'd say the odds are 60/40 that its heading down, but we'll soon know. I may either go long again or short as early as tomorrow
Palladium - What more can they say? On rumors that PA deliveries from Russia might be further delayed, PA started down, not further up. Then the rumors started that the Norilsk mine in Russia is depleted, and there may be no shipment at all. PA continued down. Maybe the next rumor will be that there never was any PA in Russia. In my opinion, PA must make a correction, at least back to the 240-250 level. However, with the margin requirements somewhere in the range of 17,000-20,000 per contract, I'll watch. My main interest is PA's influence on PL.
I think a China devaluation is inevitable. Hong Kong very nervous about all 42 or so listed Mainland China corporations becoming insolvent due to 'dead' mainland chinese national banks. Having a profitable mainland Chinese company is irrelevant if your assets are in the wrong bank.
Mike Sheller -- any news from your connections?
Jin -- How are things?
Cheers.
No gold coin has a face value
Empty numbers stamped in lies
Gold is traded in US Dollars
Everywhere on Earth
This is the standard
If ever you sell your gold
Dollars are what you will recive
You must then convert them into something else
Of your own choosing
Thus, no freedon from the dollar found
When trading gold
Anywhere
OK
PS
StrongMan=Wrong
'Round here folks like to scream and holler
That the new "Big Dog" is the Eurodollar
Seems the New World Order
Would be quicker and shorter
If not for the fleas in its collar
OK
Regarding "Psychological debasement"
How many people on earth ever see one of these coins with ridiculously low face value and form an opinion of the worth of the base metal to then disseminate these feelings that gold has little or no worth throughout the known universe?
Some talk earlier of coins in circulation I think it is summed up in:
Gresham's law ( grshemz ) noun
The theory holding that if two kinds of money in circulation have the same denominational value but different intrinsic values, the money with higher intrinsic value will be hoarded and eventually driven out of circulation by the money with lesser intrinsic value.
[After Sir Thomas Gresham.]
The muddled sentence at top is my own
I am ashamed to say
Can't seem to get the hang
Of this whole language thingie
But no time for rewrite I
On to bigger worldly worries
The quote is cut and paste
And a grand one indeedy
I feel smarter having pasted this
If not in having posting this
Uh Huh
I believe that the real money is neither paper nor gold, but rather the intrinsic value of things people can barter for food. Instead of panic, we will see resourcefulness and innovation. Each person will contribute to the economy according to his capabilities. Those who are able to supply needed services and materials will amass a new wealth. This new wealth may be represented by precious metals, but, if the "breaking of nations" is sufficiently complete, even these will have little value, because only people who happen to have them will be trading them. The real trade will be in material goods and real services. When people realize that they can't eat gold, their principals will change very quickly.
If SDRer goes
It will be one less
To keep me honest
Yes
It is hard to know what happened to you....but if this should be of any help-----
The site with the Euromint "FIRST EDITION EURO" in question is a dealers site, offering items for 'COLLECTORS'. The price they quote is the real price for a private issue minting. I can see the value it will have in years to come, in a country with so many people.
For a limited issue to recover the cost, the price quoted seems fair to me.
You have to understand that they are not in the gold business.
They are catering to rich collectors.
disclaimer: I do not know Euromint. I am not a collector. I am not in the gold business. BUT...
I do appreciate this site and I have purchased 'Mounties from Bart.'
So, 'Dear SDRer', ( I happen to know a little German and ) I see no wrong but the wrong in you leaving.!
If there is any way I could be of any help in translating part or all of what lead to the misunderstanding- feel free to come back and ask at least a question!
S.
Find out more about Kitco at info@kitco.com, or call 1-800-363-7053.
Copyright © 1996 Kitco Minerals & Metals Inc.
following.
According to Dr. Gary North and others, the total U.S. debt was at the time, about 19 trillion and according to the publication "Statistical Abstract of the U.S." the total value of all taxable real estate was about 8 trillion.
The ratio of debt to real estate value is about 2.5/1 Therefore, I
believe that your ratio of 3/1 is in the ballpark. Yes we are definately
living on borrowed money and we are collectively broke.