My Apologies to you both....... I don't follow this Gold menageatrois or this board much these days.The outcome is inevitable........the timing is difficult....at best.
"How to Die" By-------------SIEGFRIED SASSOON --For You Both--Enjoy.
Dark clouds are smouldering into red
While down the craters morning burns.
The dying soldier shifts his head
To watch the glory that returns;
He lifts his fingers toward the skies
Where holy brightness breaks in flame;
Radiance reflected in his eyes,
And on his lips a whispered name.
You'd think, to hear some people talk,
That lads go West with sobs and curses,
And sullen faces white as chalk,
Hankering for wreaths and tombs and hearses.
But they've been taught the way to do it
Like Christian soldiers; not with haste
And shuddering groans; but passing through it
With due regard for decent taste.
Take Care.
Don't be so damn pessimistic. Military citizens know they are supposed to follow orders but there are limits. Retired military soldiers receive US checks but they don't come from clinton. They come from a legitimate government. If there isn't enough money, they will print more long before they shoot US citizens en masse. Therefore you have inflation of the currency. Buy gold when they do.
One note, however - the early reports of US ignorance of the rest of the world have been vastly over-stated.
"Hear about those missiles we launched ?", I asked.
"Yeah", she said.
"What did you think of all that ?", I asked.
"I don't know", she said.
Now, when she said, "I don't know", you just had to be there. She wasn't really saying that at all - what she was saying, at least with the look on her face, was, "Where the hell is the Sudan ? And what do I care ?". She was obviously worried that someone she knows might end up walking in full combat gear across some sand dune somewhere, and I'm sure she knows plenty of folks in the military. She could have also been worried that "those people" might somehow strike back in vengence, I'm sure she knows they have the will to do it.
Why does the average American know so little about the rest of the world ? Well, it obviously has nothing to do with intelligence, we are a witty bunch as a rule. We aren't especially un-wise, so that can't be it. Contrary to what many Europeans may think, we do as a rule get a great education, though little is taught about the cultures of the world. So why don't we know about other cultures ? I think it's that we just don't care to know, as a rule. I mean think about it. Think about where on the planet America is. We're way the hell over in the middle of the ocean, worlds apart from the rest of humanity, and we just don't care. We are, at heart, isolationists.
Another reason I believe we don't have a deep understanding of the rest of the earth's cultures is that we never owned any of it. What I mean by that is - most of the European nations at one time or another had very deep interests in Africa, Asia, the Americas, Australia. Australia has a long history with Europe, and Europe with most of the world. Obviously the European nations are going to have a deep understanding of Africa, they friggin owned most of it at one time! Same goes for South America, India, and they have a history of trade with the orient. America never had all that. Our "route to the world" until somewhat recently in history, has been through Europe. Even now, our "route to the orient" is through oriental Americans! Why would your average American care to learn about the history of Japan ? of India ? of Egypt ?
I suspect that very few Americans have any desire to learn about the rest of the world unless they are A ) on vacation, B ) in the military, C ) in foreign politics, or D ) in business. I also suspect that the average European was the same way a few hundred years ago before they colonized the world, and started depending on it for trade. So, in summary, I think my answer to the question of "Why are Americans so ignorant of foreign cultures and politics" is the same as my answer to "Why are Americans so ignorant about the third moon from Zemo, second planet from Alpha-Prime", the answer being, who cares.
To me, a better question to ask than
Why don't Americans know more about the cultures of the world ?
would be -
Why does the world care that we do or we don't ?
So -- how do you explain US foreign policy? It is a group within our government. Is this a conspiracy? I don't know -- but it is nothing new in the way of human affairs over the centuries. It was true of the United Kingdom before us. But -- that does not justify anything.
Am I happy with the bombing as an American? No, even if the average American might be pleased that we punished someone for the Embassy bombings. Part of human nature is to do something in retaliation -- 'if the Merkans are capable of relaliation, they should do so' might be what some people would say.
What makes me mad is the timing. And -- the arrogance of it. Are we becoming like Israel, with these aggressive anti-terrorist strikes in foreign countries? But -- Israel is in a very different situation -- they are surrounded by hostile nations. Their very survival is in question, so the stakes are much higher.
What we risk with WJC's actions yesterday is escalation of terrorist attacks within US borders. What we should have done is to use our CIA to retaliate -- behind the scenes. The terrorists would have known who was behind the actions anyway. But -- I think we all know why WJC did not use the CIA. And, for many years the CIA has not done well in foreign intrigue. WJC may be more dangerous than Richard Nixon was during Watergate. WJC is sane enough not to start WWIII, I think.
Am I pleased we have pinpoint weapons that can be used to destroy threats with few casualties on both sides? Yes. But -- we should not have used them -- because we are accelerating the process that will lead to terrorist attacks on American soil. We certainly will have plenty of opportunity to see if these weapons work in battle.
So -- the Fatima prophesies are coming true -- Russia is to be a serious threat to the peace of the World -- a different potential Russian/Chinese 'New World Order' as you put it. So -- my premise is that there is no intentional communist conspiracy in Russia to deceive the rest of the world. The Communist government did indeed fall apart -- their military is indeed in disarray -- and were incapable of responding in the usual brutal fashion to the Chechnia situation.
But -- the insidious climate that created Communism and its near total lack of regard for the freedoms of the individual -- is still there. That is where the 'conspiracy' actually resides. Not a true conspiracy, but it would very well have the same outcome. The lines are being drawn again for the next major military confrontation in the world, and I don't like it one bit.
Unfortunately, our current foreign policy has been encouraging the rebirth or strengthening of the Communist systems. Hardly the thing to do if the 'New World Order' masterminds are really in control.
All that aside, I think most of the public -- like in any nation -- does not really get upset with the things are with our leaders -- as long there is plenty. Plenty of jobs, plenty of food, etc. WJC knows that if the economy folds, he will be under alot of pressure.
Part of all this is human nature -- most Americans I know need two jobs to keep the lifestyle they are accustomed to. Even some of the female persuasion have two jobs, not just the males. What does this say? That the average hardworking American has been hoodwinked into thinking things are good right now, and that two jobs are the only way of life. Things are no where near as good as they were in the 60's when American standards of living were higher, and our moral code was followed more closely. Americans still worked hard then -- but our money went alot further -- and we weren't sucked into the debt addiction bit.
It is the old business of 'cooking the frog'. If you cook it slowly enough, the frog does not know until it is too late. But -- it you drop the frog into the boiling water, it hops out. Humans are the same way -- accepting our slowly changing lot, because we don't realize what is being done to us ( or done to us by ourselves ) .
Notice what Mexico is doing -- the swan dive off the cliff? I'm afraid to look at Venezuela.
Vix is up over 35. This gives PPT lots of ammo.
In other words please rally so I can get short again.
To see chart select dow at http://www.mrci.com/correl/
Got Gold!
By the way, if you think our swan dive is bad, Agentina is down 6%, Mexican Bolsa -6.4%, Brazil -9.08%, and Chile down 2%. After today, we may still have wings -- triple witching hour and all. But -- I don't know how South America will look. Looks like the Russians have decided to pack it in, and even those last minute derivatives trades will not be honored.
I wonder -- perhaps one day G Soros is going to find himself in a locked market -- permanently locked. No good being on the winning side if no one pays up.
I doubt my Mexican puts will come anywhere near covering my longs. But it does lessen the pain. Only am about 15% long if I include all assets, but even that is painful. About equal parts gold, oil and retail. Still have some SP-500 puts, but they are really out of the money. SP-500 would have to go below 600.
Interestingly, the CRY0 is down today too. Deflationary pressures continue. If CRY0 goes below 200, then I will get really nervous. Time to check on the spot commodity indices. Wonder what D.A. has to say. Bet he has his hands full.
First -- no US market crash in the works for a while, anyway.
Secondly, in future market crashes elsewhere in the world, gold fire sales are less likely. Reason -- the gold has already been sold.
Now -- US dollars are a different matter. So far, however, US dollar fire sales have been neutralized by 'flight to safety'. But -- that cannot last much longer.
Mexico's behavior today is a little too close for comfort. This is no longer 12 thousand miles away where only the Kitcoites and Jin worry.
If you think we have border problems now with Mexico, wait 12 months.
By the way -- if this keeps up -- just imagine what might happen when everyone has a hangover after Labor Day.
There is another problem with terrorism. It never works quite the way the terrorist wants it to. Innocent people get killed, and the target never really gets the message anyway. I must admit I still do not have a clue why Arab terrorists want to target the US. Not very effective to target the US to alter our foreign policy. Now - nuclear blackmail, or presidential blackmail, or well chosen political contributions -- that might work.
We still do have something working for us in this country -- for now anyway. We have so many freedoms and opportunities it is hard for terrorism to take root. A terrorist in the Middle East may link up with a group in the US, and find that his/her US connections are not behaving as planned. What is the point of terrorism if you can get what you want, anyway?
Our real problems with terrorism in the US will be when we get really paranoid about security, and start detaining everyone with the wrong clothing or appearance. And -- when the 'land of opportunity' ceases to be one. I have learned over the years that conspiracies are not necessary. Natural cycles in human behavior do quite well as it is.
You may be interested to know that I was easily able to get through to Fidelity, and sell about 50% of my long position in the market. Bought some FDPMX at the same time, guessing that a credit crunch might be just the thing to get the dollar moving down, and gold up. I may regret having any virtual money in the markets -- even precious metals -- but it is hard to believe that they can go down much more, short of an outright US equity market crash. And -- I don't believe that will happen -- bear market yes -- crash no -- this year anyway. A run on the US dollar, or a gold rally is much more likely first.
Speaking in Murmansk on 21 August, Russian President Boris Yeltsin condemned U.S. air strikes in Afghanistan and Sudan, ITAR- TASS reported. "My attitude is indeed negative as it would be to any act of terrorism, military interference, failure to solve a problem through talks. I am outraged and I denounce this." Yeltsin added that it was "indecent" that he was not informed in advance. Yeltsin's press spokesman, Sergei Yastrzhembskii, appeared to be less critical: he suggested that with regard to terrorism, Russia and the U.S. are "in the same boat," and he reaffirmed that the September summit will take place as scheduled. Communist chief Gennadii Zyuganov said that the U.S. has "in fact become a terrorist state." And Liberal Democratic Party of Russia leader Vladimir Zhirinovsky said that the U.S. action should lead Russia to change its foreign policy and cancel the summit. The Russian Foreign Ministry announced it will issue a formal statement later on 21 August.
http://www.rferl.org/newsline/fulltext.html
-c
I'm with TYoung on this hesitancy toward goldstocks and physical. It just seems weird that TVX and other companies share prices continue to fall with any news that would have propelled them skyward in the past.
I don't see the unremittingly rotten news that smashed POG in the last year. I also do not see why there should be any positive correlation of POG with the Yen.
Yet nothing happens. Oh well, I'll just take a number and sit down to wait.
I suppose you saw Cooljings "Cinton does farfel"
IDCI ( lying ) M.
I don't care I'm lying more!-
The article concerns a bloodbath on the U.S. corporate bond market during Friday trading. To judge how important, here's a quote from a bond trader
"This is the largest MARGIN CALL on fixed-income assets in history."
Note, the trader was talking about US corportate debt and the debt of pretty well every "emerging economy" government in the world. Right now, there is a panic flight into U.S. Treasuries.
Thus, increasing fear everywhere is channelling the world's "hot money" into the apex of the inverted pyramid of debt which underpins the world's financial system. That apex is U.S. Treasury debt.
The "money" always had to end up there before a situation could arise where it begins to flee paper altogether. Well, it's there.
The Privateer has all gold charts and commentary now updated at our website. On the Gold commentary page, we include a link to the Reuters story mentioned above and two others. They are all - IMCO - MUST reads.
Now -- if everyone is flocking to buy US treasuries, that should make short term ( and long term ) interest rates go up -- right? But -- interest rates went down today. Did the FED just increase liquidity to handle the demand? If so, this sounds very bullish for the US dollar, even if it is long term bearish for the US markets.
I think what is far more serious is the following:
1 ) US corporate bonds are in a ( perceived ) crisis
2 ) WJC is toast ( if John Crudele is right about the WhiteHouse drug use ) .
3 ) World-wide financial crisis with Russia down, South America on the way, and Germany teetering unless their taxpayers can cough up cash for investment losses in Russia. They will not be happy about this if they figure out what happened.
4 ) US and UK markets heading for a recession ( or worse ) .
I do not like this scenario one bit. Y2k may be a secondary problem to the above. And much later.
You've got a bond that pays "X" percent, and it becomes more valuable because the rates drop, and people can only freely get bonds that pay "X - 1" percent, so yours is more valuable, because it pays out more than what the easilly had bonds pay. It's a case of people chasing the highest percentage bond they can find. As I understand it, that's why the bonds are worth less when the rates increase, because who wants to pay a bunch of money for an "X" percent bond when you can probably get the same thing cheaper in a month or two when rates go higher.
So it now makes more sense -- both the FED ( and investors worried about the safety of corporate bonds ) are buying US treasuries. Therefore interest rates are going down for two reasons. QED.
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And thats that...............except---I couldn't find URL for article--so posted whole thingy.
Gone.........
Oh!....LGB?----what planet are ya posting from now?