panda
Interest rate spreads.....
Here is a chart of the spread between the thirty year U.S. Bond and ninety day money.....
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"Gold demand in the second quarter of 1998 recovere sharply from the depressed conditions of the first quarter as the massive dishoarding in South-East Asia and South Korea came to an end. Total demand in the countries monitored by the World Gold Council was 634 tonnes, 9% below the record second quarter demand in 1997 but more than 50% above the level of the first quarter of this year."
Gold: Could be that Russia has sold/loaned all the gold they can, and that gold will go up for a while. Certainly Venezuela can do nothing to the gold market -- they don't have any gold to sell, IMHO. The wild cards are China and Japan. My guess is they are pooling their huge trade-related US dollar reserves, and are selling them like crazy. That Japanese bank business sounds like an attempt to convince the markets that the Japanese ( and Chinese? ) have the situation well under control, and are bailing out key banks. Probably no disaster here for at least a few weeks, as the Japanese leaders are announcing their activities. I would be more worried about the times they say nothing.
Are you aware of the holiday mania effect -- Fosback noted this years ago? The markets tend to go up before major holidays, like Labor day. If the markets go down this year before Labor day, that will be a bad sign indeed.
Just a thought -- think all of those lost messages and lost packages end up feeding the free energy ( zero-point energy ) ? I guess a big one is airline baggage.
I always wondered what the energy source might be ( *grin thing* ) .
If the trend is as predicted, I should have bought after Labor day -- not before. Fortunately with my Fidelity mutual fund trades total turnaround cost is 0.75% or less.
What I find curious is the strong performance of the markets late fall and winter. These graphs would be even better if they were broken down to cover the presidential election cycle. As I recall, this year is bearish. But -- the PPT will be out in full regalia in 1999. Will be interesting to see the 'clash of the Titans' in 1999 -- y2k vs PPT.
Here is why I think is it best to help our Government if the request is reasonable. If our Government fails miserably, it will be very bad for all of us -- just think what it would be like with FEMA at the helm. And -- the spin doctors will find some way to blame someone else for the Governments ineptitude. Given the Clinton polls, it is not hard to believe that the public could somehow be deceived into thinking the US government is 'saving' us from some devious plot. Lets not give FEMA the opprotunity to take over.
Personally, I do not think our Government is capable of preventing a y2k fiasco of some kind -- no matter how many programmers cooperate. Businesses will be ready -- with some laggards that will fall by the wayside. But -- forget most of big government unless we have the equivalent of a Manhattan project. Government organizations do not anticipate like private organizations -- so nothing urgent like this gets done until it is too late, or learly so. And -- the taxpayers always pay for this -- either way.
I would guess that the Federal employees still do not realize that it will not just be revenue that will be messed up -- it may also be their paychecks! I would not like to be a high level Federal bureaucrat on the day the Federal paychecks do not go out. As I recall, approximately 30% of the workforce now is government employees.
Cowardly ?? Up yours ..
In my opinion, only the real thing will get any of the weight off his back.
sharefin - a few months ago did you post a formual involving the PREM.X as a leading indicator for the PPT? Could you repost that please?
Johannesburg - Many of our readers will find the pictures of famine in southern Sudan which we have published deeply distressing. Some may feel that this is a visual invasion of privacy which should not be allowed. Others may wonder whether such appeals to our consciences are not just a short-term palliative: is there not a better way to tackle human disaster - made by humans - on such a catastrophic scale?
These are difficult questions involving both judgment and principle, but in the meantime we are absolutely sure of the need to jolt both the public and governments into greater awareness. The war-made famine in southern Sudan is one of the world's greatest catastrophes: nearly two million have already died from fighting and consequent famine in the past decade
and a half.
The United Nations World Food Programme says that 1,2-million more people are at risk of death from hunger in the next few months. In Ajiep, where these photographs were taken, people are living on the leaves of trees. Food supply by UN planes does not meet half the demand. At least one child dies in the feeding centre a day. It is as much hell on earth as a
battlefield, a concentration camp, or the scene of ethnic genocide.
Southern Sudan has always been a harsh, dry place to live in and the climate has worsened in recent years. It is expensive and difficult to send in emergency supplies and even more so to begin to rebuild a devastated agricultural infrastructure. But the root cause of the famine is not the weather or the remoteness. It is the pitiless war conducted by the Khartoum regime towards the people of the sub- Saharan south who have never been regarded as equal citizens. The southern cause is not a shining one: local warlords steal aid supplies and inflict more misery on the civilian population. Yet the situation has to be dealt with as it is, not in some ideal framework.
Western countries are certainly no friends of the radical Islamic regime in Khartoum, but most humanitarian aid is channeled through arrangements which allow it ultimate veto power. This is partly out of deference to the formal requirements of respect for "national sovereignty". It is also, less explicitly, because the United States and other countries fear that increased rebel activity in the south - encouraged by large-scale food aid - could lead to the fragmentation of Sudan, causing further geopolitical upheavals in the region.
These arguments should pale into nothingness when set against the immense suffering of so many people. They are crying out of hunger, collapsing from weakness, dying without even a patch of shade: they should get far more aid, and get it directly.
We have not published the worst photographs taken at Ajiep. One shows a woman crouched on her knees in the earth, giving birth as a friend supports her from behind. A dead man with his eyes protruding from his sockets lies a few feet away. There are pictures of live children seemingly as thin as sticks, and one of a dead child being buried in a tiny hole in the sand. There is no denying that there are limits to what can be shown visually: in some cases words may convey the message more effectively. But the assault on consciences has to be made.
It is precisely to focus attention upon the war and the policies which cause more people to die that there must be more pictures, more words and more protest. The people who are dying in Ajiep and many other places cannot wait till another way of tackling human disaster has been found.
Copyright 1998 Mail and Guardian. Distributed via Africa News Online ( www.africanews.org )
1. Some folks did extremely well in the Energy Crisis! Examples are oil exploration, nuclear, and insulation companies. In the "Y2K crisis", people are going to make fortunes repairing broken systems. The Big Six consulting companies, for example, will supply resources to figure out how to patch-up old systems so they can limp along, and then figure-out and install long-term solutions.
2. People can panic ( 1929 style ) when something causes problems, and they cant understand why. The public could understand the reasons behind the "Energy Crisis". Less oil meant higher prices. They even had a bad guy: some imaginary rich Arab that wanted money. They will NOT UNDERSTAND why their electricity is going out frequently, their ATMs dont work, their insurance company lost their policy, or why their hospitals CAT scan machine wont work...
On another note, would I love to be a reporter at the next Presidential Press Conference:
* Mr. President, who gave you THAT tie?
* Whats that on your pants? Did you have yogurt for breakfast?
---
He stood still in the sun's heat overlooking the banks of the river, heart racing, and closed his eyes, trying to steady himself. He listened, quietly, and heard the whispered voices of the others along the crest of the hill and thought of the rumors he had heard around the fire the night before. Mind spinning, anticipation - how had he been brought to this place to fight such an enemy ? He tried to clear his mind once again and focused on the weight of steel in his hand, the smell on the breeze of dust and labor, the beating sun on his shoulders. He thought for a moment that he might walk to the river, to satisfy his thirst, but the battle would soon be at hand, and he quickly decided against it. He took a deep breath and opened his eyes as whispers turned to shouts and orders - across the river the battle formed. Another breath - his eyes filled with horror, and after moments of resolve, his heart to stone.
On this day, the 20th of August, in the year of our Lord six hundred thirty six - the Byzantine emperor Heraclius had gathered a large army which met the Muslim army at the Battle of the Yarmuk in Syria. 200000 Greeks, Syrians, Mesopotamians and Armenians clashed with 24000 of Allah's warriors on the river Al-Yarmuk [Hieromax] in one of the bloodiest battles recorded. Accounts tell of Greek soldiers chaining together their troops so that they would not take flight, and of muslim women and children joining the battle. By battle's end, 70000 men had been killed on the side of the Greeks and they were scattered in defeat.
By CHRISTOPHER FRANCESCANI and LIBBY CALLAWAY
Say what you will about Monica Lewinsky, she's got good taste in ties.
Fashion followers give her a big thumbs up for her penchant for Zegna ties - like the ones she gave President Clinton.
"It's a handsome tie - colorful without being garish, very chief executive," Esquire magazine executive editor Scott Omelianuk said.
"He's worn worse - and she's worn worse."
The Ermenegildo Zegna tie has become the talk of the town since it was discovered that Clinton wore it in public appearances on Aug. 6 - the same day Lewinsky testified before the Sexgate grand jury.
His choice of occasions may be questionable to political observers, but fashion observers can find little wrong with the stately navy-and-gold neck piece.
For those uninitiated into the world of exclusive menswear, Zegna ties cost from $110 to $135. The Italian-based company has 200 international boutiques, not to mention displays at departments stores like Saks and Barneys.
Zegna's demographic is fairly narrow: Their ideal customer is over 30 and nets an annual salary of at least $150,000. Such Hollywood hunks as Alec Baldwin, Ted Danson and Denzel Washington sport the label's style.
The company recently provided costumes for "Civil Action," starring John Travlota - last seen on the big screen playing a Clintonesque president in "Primary Colors."
Melonee McKinney, market editor at the daily menswear publication DNR, calls Zegna ties instantly recognizable status symbols.
A saleswoman at the Fifth Avenue store reports there have been "at least 100" calls about the suddenly scandalous tie.
Zegna's spokesman refused to comment.
Closer to the White House, salespeople in the tie department at Nordstrom in Pentagon City Mall in northern Virginia told The Post they've stocked Zegna ties for two years.
Though no one recalled selling a tie to Lewinsky, they acknowledged it was a possibility. The former intern worked at the nearby Pentagon, and the Ritz Carlton Hotel, where she was cornered by the FBI in January, is adjacent to the mall.
There hasn't been this much attention paid to a fashion piece since the Bruno Magli shoes in the O.J. Simpson civil trial, one fashion insider noted.
And while the tie's symbolic origins will surely continue to baffle within the Beltway, there are even larger questions on more sartorially inquiring minds.
"How can someone on an intern's salary afford to spend $120 on a silk tie to give away?" Omelianuk asked.
By BRIAN BLOMQUIST
WASHINGTON - Monica Lewinsky makes an encore grand-jury appearance today amid reports President Clinton has given a DNA sample to Sexgate investigator Kenneth Starr to be tested against her "love dress."
In another bad sign for the White House, Lewinsky was described as "outraged" at reports that her role in her relationship with Clinton was merely to service him sexually - insisting that Clinton told her they had a "future together" after his presidency.
Reports said Lewinsky is set to tell the grand jury that Clinton lied under oath because they did have sex that would meet even the narrow definition that Clinton says he was using.
In her previous testimony she also said that Clinton's personal secretary, Betty Currie, came to her to retrieve gifts that Clinton had given her after she and the president discussed a subpoena to produce those gifts, The Washington Post's website said today.
It said Clinton's account of what happened to the gifts differs from both Lewinsky's and Currie's.
Clinton acknowledged that in December he discussed the gifts with Lewinsky and testified that he told her she would have to turn over any gifts still in her possession.
But Lewinsky said Currie approached her and asked for the gifts. Currie showed up at her Watergate apartment unannounced to collect the gifts, a source told the newspaper.
Concealing the gifts could be obstruction of justice since it violated a subpoena in the Paula Jones case. Clinton reportedly was "evasive" under oath Monday about his role in hiding them.
And in a bizarre twist, some reports said Linda Tripp, Monica's onetime friend who sparked Sexgate with her secret tapes of Lewinsky, was slated to testify again today - but a well-placed source said that was wrong.
Starr's request for Clinton's DNA sample is virtual assurance that Lewinsky's blue dress tested positive for a semen stain that contains DNA, possibly Clinton's.
Starr got the sample from Bethesda Naval Hospital, where Clinton gets his medical care, before his testimony Monday and Clinton lawyer David Kendall didn't object, The Washington Post reported.
Today's testimony is an encore for Lewinsky, who previously testified Aug. 6, the same day Clinton wore a gold and navy blue tie that she gave him.
Lewinsky reportedly asked Clinton to wear the tie when he wanted her to know that she was still close to his heart.
Clinton could have another legal problem for holding on to the gifts, because Starr sent Clinton a subpoena in January that reportedly demanded all gifts that Clinton got from Lewinsky.
Fox News reported that Lewinsky has a "feeling of betrayal" about Clinton and that Clinton suggested they had a future. Fox said Clinton cleared many of Lewinsky's 37 visits to the White House though he claimed she was visiting Currie.
Another source said it was more accurate to describe Lewinsky as "hurt," noting Clinton is "the same person who stood in the Rose Garden and said, "I never had sex with that woman.'"
Clinton reportedly told the grand jury Monday he received oral sex from Lewinsky but didn't believe that act constituted "sexual relations" as defined in the Paula Jones case - because essentially she was performing sex on him and he wasn't doing anything to gratify her.
Clinton didn't answer detailed questions about sex with Lewinsky because, said Kendall, prosecutors were getting too "intrusive."
CNN reported last night that Clinton was asked about the dress, the gifts, the exact nature of his relationship with Lewinsky and "about Kathleen Willey" - the White House volunteer who accused Clinton of groping her. His responses were often "hostile and defiant," a source told CNN.
One subject that has not been made public also came up in the questioning - and Clinton reacted in a "surprised and hostile" manner, CNN said.
Ex-Justice Department lawyer Todd Gaziano said it's likely Lewinsky will get hit with the specific questions about sex that Clinton refused to answer.
"It's a real shame that the president is putting Monica through this again," Gaziano said. "He continues to manipulate her."
Prosecutors are expected to ask Lewinsky detailed questions about Clinton's sworn testimony. The goal is to determine if Clinton lied under oath before a grand jury about possible obstruction of justice and witness tampering.
Also, prosecutors probably will want to ask Lewinsky about Clinton's memory of the conversations they had about how to respond to the subpoena for Lewinsky's testimony in the Jones case.
Experts say Lewinsky's reported anger at Clinton could make her a troublesome witness for the president.
"If the president has denied facts from Miss Lewinsky's testimony, he has rather directly called her a liar," said legal scholar Jonathan Turley.
Gore: "You wanted to see me, Mr. President."
Clinton: "Yes, Al, have a seat. I wanted to talk about the --- Al, did you know your hair is sticking straight up in the back? It looks awful! Here, use my hairbrush..."
What also worries me is that these terrorist attacks and counterattacks may escalate until they occur on our shores. But -- perhaps that is what some parties want -- because then one can declare a national emergency.
I certainly hope that this is not the case. Certain factions in the US government may want to encourage terrorist attacks on American facilities around the world -- just so that they can assimilate more power. WJC -- as a popular, but weak president -- is ideal as a figurehead for such actions.
Another possibility, just as likely, is that we really do not have any well defined foreign policy at all -- and we are just muddling through. Sure makes things tough for our bureaucratic high level government types when the terrorist in question appears to be a Saudi Arabian expatriate.
Agendas within agendas. We certainly cannot attack any sites in Saudi Arabia. That would be political suicide. So -- do we just punish the 'usual suspects'?
This certainly is a time when we need a well-defined foreign policy, not an rudderless one -- and a strong foreign policy president. Why do I get the feeling that our period of relative world peace is slipping away, due in part to inaction, or inappropriate action wrt foreign policy? Oh well, as someone once said, the seeds of war/conflict are sown in peacetime.
I wonder what message North Korea gets when they are told they are to get some nuclear reactors, but get contraband US dollar printing presses instead. For the brand-new 100 bill, nontheless. Someone knowledgable had to give the North Koreans the necessary secrets. The same group that gave China all of those military secrets?
Clinton's desperation is adding to the market uncertainty. The markets valuation, Y2K, Asia and Russia all point to a market meltdown.
However VIX closed over 29. Options expire tomorrow. This could cause a big rally tomorrow. Even in todays weak market AOL, Cisco, Microsoft and Yahoo all were up over a point. Until these leaders crack the market could have one more suprise on the upside.
My best guess for now is for the rally to continue until labor day. Watch for a big reversal in the techs to signal the end.
P.S. VIX can be followed and charted on biz.yahoo.com
Appreciate your words -- sometimes the flow of events gets a bit much. Yes, I do want to make money investing in precious metals -- but I just don't want the financial turmoil or military confrontations that may come with a bull market in gold. How about some simple peacetime inflation instead? Or AG just worried about an ordinary recession, and he lowers short term rates? Life is never quite what you want -- you just get the cards you are dealt. We on this site are cursed with wanting to look into the future more than most -- and what we see is often not pleasant to look at.
Regardless -- the most interesting question is why the British pound is so strong.
Now, with England moving into a recession, what will happen to Europe? The Russian debacle must have some negative effects. Is there any real evidence of an economic recovery? If not, looks like the US dollar will have relatively little competition from the EURO -- unless there is some special gimmick -- 'like backed by gold', or 'cheap, anonymous derivatives trades'. Comments?
All: Anyone know how much gold is available for emergency sale in South America?
Apologies to the old sea salts who know these terms better than I. I have never piloted my own sailboat in the ocean after dark. But I do have a healthy respect for the whims of mother nature -- either at sea, or on land.
That night I will never forget, because I also made the mistake of going out to sea without my crew. Had six others on board, non of whom know how to sail. If you have not sailed before -- only power boats -- it is easy to naively think you can handle anything. Sailboats are far less forgiving of mistakes. Fortunately, with sails and partially functional motor, I made harbor, running out of gas within several hundred feet of the marina. It is not a pleasant experience to pilot a sailboat worth 5-10 times your annual salary in a harbor without a motor. Never asked the rental agent about insurance, either.
Just how many of the world's Central bankers have gone through a financial crisis of the magnitude of the one that is coming our way? Bet they are almost all 'fairweather' powerboaters. The ones in the know have retired long ago.
I think that the Commander in Chief needs to maintain a higher moral standard than those who follow him/her -- regardless of which country we are talking about. There was a day that moral code meant something, even if there was no law for every nuance. Now we have a Commander in Chief claiming innocence on a legal technicality.
By the way, I was pleasantly surprised by all those State Governors who angrily complained about at least one of WJC's recent executive orders. Some house cleaning has begun already.
I see GCZ8 didn't make $295 today. What will it take?
We have a president in deep sh*t.
A president who launches an attack against ???? and kills ??? for ??? reason?
Maybe he will succeed in pissing off the Mid East factions and drive the price of oil up and the dollar down?
A president who faces many calls to reign.
A president who may be impeached if he doesn't resign.
A president who, if he resigns, will probably face criminal prosecution.
........................................
I don't remember why the Speaker of the House didn't succeed, but they went looking, and lo and behold they found Gerry Ford who picked Rockefeller ( sp? ) for VP.
Here is some more info the Nixon/Ford era.
A little blurb on Agnew's death;
http://www.seattletimes.com/extra/browse/html/altagnw_091896.html
And this is from a much longer thing on Ford, but the history is here.
Vice President
Two days after Spiro Agnew resigned on Oct. 10, 1973, President Nixon nominated Ford to succeed him under a provision of the 25th
Amendment the U. S. CONSTITUTION. After a thorough investigation, Ford was approved by both houses of Congress and sworn in
as vice president on December 6.
The Republican party was sagging under the weight of the Watergate scandal, and the vice president, in hundreds of public appearances,
sought to rally the party faithful. He expressed the belief that President Nixon was not involved in the Watergate cover-up. But the
president, after being forced to release damaging evidence, resigned after it became apparent that he would be removed through the
impeachment process. Ford was sworn in as president at noon on Aug. 9, 1974, by Chief Justice Warren Burger in the East Room of the
White House.
Presidency
The new president tried to restore public confidence in the national leadership and in the institutions of government. His administration was
one of the most open in years, and Ford sought to emphasize candor in his relationships with the public and the press. But in both
domestic and world affairs he inherited problems that did not lend themselves to quick solutions.
Presidential Appointments
Ford nominated, and Congress approved, former New York Gov. Nelson ROCKEFELLER to be vice president of the United States.
Thus for the first time the nation's two top offices were occupied by men who had not been elected to either office.
By mid-1976, Ford had replaced all but three members of the Nixon CABINET. Only Secretary of State Henry Kissinger, Secretary of
Agriculture Earl Butz, and Secretary of the Treasury William Simon remained in their posts. In November 1975, Ford requested the
resignation of Secretary of Defense James Schlesinger and Central Intelligence Agency ( CIA ) Director William Colby. Schlesinger had
tended to favor a firmer line against the Soviet Union, and Colby had struggled with mixed results to handle public scrutiny of the
scandal-plagued CIA. Ford appointed as replacements White House Chief of Staff Donald Rumsfeld to Defense and Ambassador
George BUSH to the CIA.
Elliot Richardson, ambassador to Britain, was brought home to take over the Department of Commerce and was replaced in London by
Anne Armstrong. Other cabinet changes included the appointment of Thomas Kleppe to the Department of the Interior; F. David
Mathews to Health, Education and Welfare; William Coleman, Jr., the second black to serve in a cabinet, as secretary of transportation;
and John Dunlop and W. J. Usery, Jr., as secretaries of labor. Daniel Moynihan resigned as ambassador to the United Nations and was
replaced by former Pennsylvania Gov. William Scranton. Edward H. Levi and Carla Hills were named attorney general and secretary of
housing and urban development, respectively.
President Ford made his only appointment to the U. S. Supreme Court in 1975, choosing John Paul Stevens to serve as an associate
justice. The only other major change came with the announcement in 1975 by Vice President Rockefeller that he would not be available
as Ford's running mate in 1976. Rockefeller's action may have been requested by Ford campaign strategists, who hoped to blunt
opposition to Ford by conservative Republicans.
The Pardon of Nixon
Ford's "honeymoon" with Congress and the public ended on Sept. 8, 1974, when he granted a "full, free and absolute pardon" to former
President Nixon "for all offenses against the United States which he ... has committed or may have committed or taken part in" while he
was president. Nixon accepted the pardon. The response from newspapers, members of Congress, and the general public was
overwhelmingly negative. The critics contended that the pardon was premature because it precluded possible indictment that might have
led to answers to some of the remaining Watergate questions. They argued that it undercut the work of the Watergate special prosecutor
and provided plausible grounds for all those convicted of Watergate crimes to seek pardons.
Appearing before the U. S. House Committee on the Judiciary, Ford explained that there were no deals connected with the pardon. He
said he hoped his action would end the nation's preoccupation with Watergate and help the former president to regain his health.
It was in the 70s. In Denver.
I learned a lot about the lengths to which the treasonous critters who claim to own us will go.
The only extensive vacation of my life was served in Safford,Arizona FPC.
Met a lot of interesting folks, many of whom were investors.
Of course it was because they were investing other folks money that they were in an fpc to begin with.
I have kept a low profile for a long time.
It is my earnest hope that I do not have to become an active participant again, as I am 18 yrs older than I was when I was permitted to return home.
I know that it is somewhat risky even now to do and say some of the things I am doing and saying.
But what the hay?
We only live once in this cocoon, right?
It is with a certain amount of trepidation i see what is happening all around us.
I was a personal friend of Gordon Kahl.
Am personally acquainted with the leader of the Aryan Nations Church of Jesus Christ Christian. Richard Butler.
While I do not share the beliefs of the aryans or the oReDR OF THE cHRISTIAN iDENTITY MOVEMENT, i KNOW I AM IN THE SAME FILE AS ARE THEY.
tOO MANY DETAILS TO GO INTO ON LINE AND REALLY NOT IMPORTANT, but the fact I know them is all it could take, if another witch hunt begins.
I made my wife a promise to pull in my horns in june of 1977.
and was indicted in september of that year.
Tried in Jan of 1978, case # 78CR3, tenth judicial district, Denver, CO.
It is somewhat problematic for me to get active again.
My wife released me from my promise about three years ago.
I find I have not the time or temperament to get involved as I once was.
Of course, the criminals could care less if I am not planning to do any more resistance stuff.
If they are seeking scapegoats, there are a few of us left.
Not many of our bunch, however. Most are dead.
As to my paranoia and any plans the adversary may have for me, que cera!
I don't even have a food supply.
That sets a very poor example, I know.
If all the stuff in the ex os comes to pass, it will mean a real shootout for those who do have supplies and are set upon by one of the large FEMA groups.
The concept of federales foraging has a connotation of implied violence from where I sit.
One can only take it one day at a time and keep the eyes peeled.
If I were really paranoid, I would have to go somewhere else and do something else.
Gotta stop this drivel, as it is far from your question.
No apologies for the extensive ado about nearly nothing.
Howdy Tort! Been awhile since I've seen you here. As far as Bill goes... The Libs calling up the talk shows around here are SHOCKED just SHOCKED that gambling is... Sorry, wrong movie....
But seriously. There was something about WJC's speech on monday night that just pushed the wrong button for a lot of women it seems. Now, with the, "Wag the Dog", play coming on the heals of ???? What do you call it? Monica? WJC is done, it's just a matter of time now. Both male and female LIBS are 'confused, disappointed, dazed,....,shocked'. Yup, a matter of time now...
Old Soldier Dude........sarry bout that book I published last night.It was an article I found while searching for stuff about Jack Kemp,who wrote a letter to AG about Gold,you see,and thought it was interesting,given the time it was written,and the things we were experiencing up to that point.Now today!----doo--doo--doo--doo.......
( opening musical notes from " The Outer Limits " ) ...strange!But your right,and Grizz tuned me in about the double space phenonemon thing.OK? Take Care.
NOW !!----WHO WANT"S TA RUMBLE?:- )
http://fartnet.com/warwithcanada/
G-Nutz-that was funny man.
Away---ToThrowMeTommyHawks---AtFrenchSpeaking---Injuns?
Go Gold---- Go Canada-----err...well...don't sell any Gold THIS month.
Find out more about Kitco at info@kitco.com, or call 1-800-363-7053.
Copyright © 1996 Kitco Minerals & Metals Inc.
"Paper currency and digital money are pandemic," the gold short declares, "ergo the American public could NEVER transact in gold again. The public does not know what it is or how to use it or where to find it."
Unfortunately, this argument is both specious and nonsensical.
On a micro level, gold may have little value in America. However, on a macro level amongst nations, gold retains significant value. It is the only international currency today containing historic, intrinsic value ( as opposed to value based upon the good faith of a go*ernment ) .
I well remember a trip I took to a country one time whose paper currency experienced regular and radical shifts of "value." In that particular country, the unofficial transactional currency was the American Dollar.
The majority of citizens did NOT hold American currency. Rather, they held bushels of their own country's volatile currency. A small black market existed in which American Dollars were king. Any citizen of the country who wished to obtain real, vital goods for reasonable prices was compelled to learn about the US Dollar, enter the Black Market, transact in American Dollars, and discover how to obtain the American currency...otherwise, the unfortunate citizens who did not rapidly acquaint themselves with the US Dollar were left to suffer great dearth owing to the pathetic purchasing power of their native currency.
Analogously, the day the American Dollar develops a "crisis in Faith" and ceases to maintain its tremendous purchasing power will be the day that the citizens will seek out another currency or transactional medium to enable them to obtain real, vital goods. Whatever this new transactional medium is, Americans will be compelled to learn what it is, how to use it, and where to obtain it. Most Americans cannot conceive of such a radical New World. In a country renowned for notably dismal, parochial education in international matters...where most citizens know only one language...where most citizens would be hard pressed to name the capital cities of more than one or two foreign countries...where most citizens are still nonconversant with the near universal usage of the Metric System...then naturally, the average American cannot conceive of a world in which he is COMPELLED to learn something new and foreign -- specifically, a whole new currency!!
The odds favor that, even if gold does not end up becoming the new global currency of choice, nevertheless, it will likely serve ( at the very least ) as an invaluable bridge to the creation of a new global reserve currency and/or currencies.
The reason: With the dissipation of American Dollar hegemony, naturally, we will witness tremendous upheaval. Gold always thrived in chaos and there is little reason to expect otherwise during the next storm.
Thanks.
F*