D.A. - what do you say to a few 'Eaglettes'. 284 before 304 Although the trade is in your favor right now, i.e. it gets increasingly tougher to push the price down from here. Perhaps you'll understand and slide me an extra 2 or 3 bucks ( 307 ) ? Let me know;- ) ......btw.......anything on the Can$?!

Mooney - your cotton a buy Dec 20.....87% historical ( see disclaimer:-0 )

All - Has anyone heard of a company called 'Coastal Carribean' or something like that....it is Oil ( Black Gold, Texas Tea ) . Anyone familiar Let me know if you can, Please.

Nick@C - I was rolling about that uncles-brother-second-cousins-best-freind-mother-in-law thing. What great market savvy you have. You asked all the pertinent questions ;- ) . Pet the rotties for me. And don't let them 'dump' on the golf course.

away.....to the charts

Éßuckingandbettingworldwideohmy

http://www.yahoo.com/headlines/971201/news/stories/funds_1.html

Wonder who leaked the content of the letter?

I have yet to find any clear parallels between the dust bowl of the thirties in the US, the ElNino of 1929-30, and the great depression in the US, but it certainly is suspicious!

Comments about the markets? Over a 10day intraday period, I see a steady rise in the sp-500, in about a 3 day cycle.

AG may be afraid to raise rates because of the world-wide situation if the rally continues. The flagship computer stocks look weak so far.

I ( and others more experience than me ) have noticed a pattern in the markets during the full moons -- not good enough to trade on for me anyway -- but I do know to be more alert during these days for a sudden up or down market movement.

You might like to look at How the moon affects you, by Arnold Lieber, MD, who claims and presents data revealing an ER correlation among other things. I don't believe everything he says, but it is interesting reading.

You have served your brother and sister with a special mission. It has really meant something, unlike so much of what we do in life, and think is so important.

Russia is a wild card -- not because it is a significant part of the European economy, but because of the civil unrest that may eventually arise in the near future -- and destabilize the rest of Europe. Given how close the former Russian states are to the rest of Europe, Europeans will be rushing to buy gold, and nonEuropean currencies if Russia ignites.

Did you see that Red Cross prediction of famines this winter in Russia? I don't know the accuracy of this prediction, but it is evident that gangsters run much of the country, many honest Russian workers get paid very little if at all, and the IMF appears to be bailing out. Not a good time for the Russian markets to fall. I wonder, just how much did the western Europeans invest in Russia, and SE Asia?

If you know more -- please enlighten us!

Decision two is do you like to write indicators and trading systems? Super Charts will do almost everything that Trade Station will. The big deal with TS is the Power Editor. If you're not in to writing complex systems or doing 'funny' things, then Super Charts will suffice. You're paying big bucks for the Power Editor in TS.

SC has the Quick Editor in it. It will allow you to write quite a few studies and indicators. There are times when the only way to do something is with the Power Editor. So the question really becomes, Do you really like to write indicators and systems? If the answer is yes, then ( $$$ ) you would probably like Trade Station better. Otherwise Super Charts could fill the bill nicely.

Will it look and feel like the St.Gaudens 20 dollar gold piece?

And just how long will it take for the gold veneer to wear off while it is in circulation?

I think we need to watch the rate of the US debt rise - I wonder how much more it will rise after the IMF signs the deal with S Korea. Perhaps we will find that the US debt rises much more quickly than one would anticipate based on official US obligations to S. Korea. Did you notice that the IMF is only putting up 20Billion of the bailout package? The rest is from individual countries. I wonder who decides who owes what. I feel as if the US is sitting on a mountain of debt so large that one does not even appreciate its size. Piling a little SE Asian debt -- several hundred billion or so -- evenly spread out all over the mountain -- might not be noticeable to the unfortunate souls who sit on it -- the American people.

We have all been speculating on why gold has been going down for the last 1 1/2 years. Is your opinion like RJ's -- that the most primary reason is the need to keep the US dollar strong so that the ECU countries have a positive trade balance -- so that they qualify for the Jan 1 1999 launching date? I doubt that the powers that be anticipated the SE Asia currency crisis, which may delay official unveiling of the ECU, or weaken it. There is a real risk that the EURO-bound countries flirt with recession or worse if they make the EURO currency too strong. In fact, I wonder -- could the dollar continue to rise and gold continue to fall because of european economic problems? When gold rises and the dollar falls, it may be a sign that certain key groups have run out of resources, or that their goal has been accomplished. I doubt the latter will occur before year 2000, given the deflationary state of the world.

Running out of resources to keep the dollar strong is more likely.

Dow over 8,000;

........................new highs no doubt for S&P coming;

........................................................................while facts haven't changed.

“What about a drop into mid-December? Well, my opinion is that's still coming, but as it will be a bullish pause for the moment, barring news of shock capability.” Complete Market Forecast at:

http://www.gold-eagle.com/gold_digest/inger120297.html

How do 100+ MPH winds sound to ya? :- ) ( It was 4 degrees F on the summit a while ago... )

The URL is http://www.the-privateer.com/usdebt.html

The interesting factor is that the debt reported by the Treasury jumped by $27 Billion over the weekend to $5.489 Trillion. The debt ceiling was raised to $5.5 Trillion on March 29, 1996 by Mr Clinton.

The Congress has raised the ceiling before on the quiet and there's nothing to stop them from doing so again. The reason that the debt ceiling became such big news in 1995-96 was because of the recalcitrance of the Republican dominated Congress. It's a moot point as to whether the present Congress will prove equally recalcitrant. I don't think they will.

Nonetheless, the debt ceiling and the progress towards it is worth following. Imagine the consternation if the U.S. government were to shut down as they did in late 1995. Everyone everywhere has been shovelling whatever they can rescue from the Asian and Latin American melt downs into Treasury debt.

It always gets darker just before the lights go out.

I wonder just what he is meaning here. This is derived from the saying, It is always darkest just before the dawn.

He obviously intended to give his commentary until just prior to his talk. The fact that he spent his time talking about something completely irrelevant to his stated topic or the context of his venue indicates he was under duress. In toeing the literal line to not speak out he never the less wanted to make it obvious that he is doing so unwillingly. Something like a prisoner of war signing his confession with the name 'Mickey Mouse' ( this was done once in Vietnam by an Amercian POW ) .

There are two strong possible readings of his variation on the old saying.

1 ) The price is going through the floor.

In this case the portion about it 'getting darkest' pertains to prices dropping. And so the 'lights going out' would imply a collapse in the price of gold.

2 ) The powers are losing control which will lead to chaos and panic.

What happens when you turn out the lights? Fear and panic. When people can't see they lose control of themselves. The intent of meaning here is to say if you think gold dropping is a bad scene, then wait until you see what's really coming down the road.

At this particular astrological moment, he says, “We kind of feel the same way right now about gold and silver.” He names his favorite stocks... which may rise to the stars ( my pun, and intended ) :

http://www.gold-eagle.com/gold_digest/astro120297.html

-- GOLD

ISSUED TODAY PREVIOUS DAY'S STOPPERS

Aig Clearing Corporation 5 Aig Clearing Corporation 140

Prudential Securities Inc 231 Goldman Sachs & Co. 156

Age Comm. Clearing Corp. 2 Prudential Securities Inc. 7

E.D.&F. Man International 12 Carr Futures Inc. 1

Geldermann Inc. 17 Geldermann Inc. 8

Sterling Commodities Corp. 4 Gerald, Inc. 1

Abn Amro Chicago Corp. 10 Merrill Lynch Futures, Inc. 3

Klein & Co. Futures, Inc. 4 Saul Stone And Company 2

Merrill Lynch Futures, Inc. 2 Republic New York Sec. 12

Morgan Stanley & Co., Inc. 27 Rosenthal - Collins Group 1

J.P. Morgan Futures Inc. 1 Spear, Leeds & Kellogg 2

Saul Stone And Company 7 TOTAL 333

First Options of Chicago 3

Spear, Leeds & Kellogg 5

Smith Barney Inc. 3

TOTAL 333

-- -- -- -- TOTAL DELIVERY NOTICES -- -- --

-- -- -- -- HI-GRADE SILVER GOLD

ISSUED TODAY 672 533 333

SO FAR FOR DECEMBER 6,500 6,700 4,365

Anyone know what STOPPERS mean?

Page 13-10 ( g ) states: By the tender of a warehouse reciept for gold, duly endorsed for transfer, the endorser shall be deemed to warrant that the gold described therein weighs 100 troy ounces ( 5% more or less ) and is not less than 995 fine.

So I guess the contract is for a bar weighing 95 to 105 oz. between 995 and 9999 fine gold. Can anyone help me clear this up? What kind of bar do you recieve? Is it old Nazi gold or what?

Gold looks best on the fingers and necks of swell dames

See the Movie and begin to understand GOLD ---

Got a crazy idea - how about Japan replaces all those

US bonds with South African rand denominated bonds

that pay 15 % instead of only 7 or so. 15 per cent

Government bonds from the WORLDS LARGEST GOLD and

PLATINUM supplier - Moreover the rand is undervalued on

a PPP basis.

That little number should ensure a nuclear response

from the USA and REALLY close down all the mines and

everything else. The reason for the strike would be

to prevent zadeeks tribal war from happening. Had to

take out that country Maam to prevent an ugly WAR

a comment that he just might buy Gold!!

At the time, he was a little peeved with his

treatment by the administration.

For some of you true experts out there:

What would happen if Japan started selling

Treasuries and buying Gold in large amounts?

Couldn't he sink the US economy by doing this?

And, of course, wouldn't he destroy his very best

market for the goods that he produces?

I GET IT - you are LITTLE ZADEEK - your daddy is away and you are

playing with his computer.

That is the very western Areas - However in the coolest move for a

long time Anglo_American just took it away from everybody for practically

nothing = They bought it from JCI along with joel - more reserves than

ABX for practically zip. It will become part of their new gold

company in the Vaal Reef vehicle. WA shareholders will receive Vaal

stock I believe to replace it - Same for West Deeps, fregold, southvaal, some others. This one company will have more gold production than the USA. ( Zaddeek please note ) - not to mention control of amplats ( half the World's platinum plus/minus ) , a huge coal operation, manganese,large de beers diamond holding etc etc. ...

Why is it that money could not be printed fast enough? Isn't three months, six months fast enough? The point is, ultimately, longer term, hyperinflation seems more likely. Nevertheless, I am certainly not familiar with all the issues here.

Relating this to gold and gold stocks, let's continue to be concerned about the price of gold relative to goods and services, i.e., the one ounce for a good suit mode. From that perspective, won't the ability of gold to preserve its value or grow in value during inflation or deflation be linked to factors other than the deflation / inflation itself? Of course I find the deflation/inflation topic interesting and very appropriate for this forum, but nevertheless, shouldn't we as gold investors be more concerned over the likelihood of the emergence of those other factors, not the inflation or deflation per se?

You said that you believe that you are correct in that

the USA is the World's number One gold producer.

You said that you heard a famous geologist talk

about all the coming problems in south African gold

deposits and that he ought to know.

Im sorry - the US is not the number one producer

South Africa is.

I agree that the famous geologist ought to know -

problem is that he didnt. I believe RSA production

bottomed in 1995 and has been going up since then.

I believe that if you actually checked some numbers

you would find that South Africa produces MORE gold

than the US and Canada combined ( 1995 figures ) .

You are really screwed up old buddy and should do

some homework IMHO.

As far as I am concerned You fail this course.

If I have to reply further to correct your stream

of silly comments, I will send you a bill to

cover my misguided efforts to educate you.

I will ignore any future predictions you may wish

to make since you are so poorly informed.

I noticed that tantalus likes your stuff.

Maybe he will subscribe to your newsletter.

The only thing that holds today's debt pyramid together is confidence. Pure and simple.

It is this amorphous state of mind that creates credit and therefore the fictional money that is driving this investment bubble.

The real danger to the monetary system comes when the outstanding credit far outweighs the assets that back it up.

It is exactly at this point ( and I believe that is where we are today ) when a deflationary crisis or perhaps collapse may occur.

It WILL happen once the CONFIDENCE that supports it decreases and finally evaporates. This psychological change in the social and investment mood of the people from expansion to retrenchement will be the initial signal that debt retirement has begun.

The retirement of this debt will cause severe contraction in money supply, which is defined as deflation.

Once the psychological change takes place no government presses can be fast enough to provide enough timely liquidity to prevent this phenomenon. It has to run its course!!

Remember that this historical debt in $ trillions must and will be retired through deflation. It is primarily the CBs that have played a willing culprit in providing this credit, whether to the government or investors and let this bubble expand exponentially. Once the bubble bursts it will not be a pretty world for a while. The deflationary collapse will wash all the debt/sins and we will be ready for another 60-70 years.

Mr Rush has influence over millions of people's thinking. Therefore, you do not expect him to be totally free to say what he wants, even if he understood the situation, do you

!!!!!!!!!!!!!!!!!!!

Read carefully the words of Edward deVere, 17th Earl of Oxford ( aka William Shakespeare ) . It so much applies to us today!!!

There is a tide in the affairs of men

Which, taken at the flood, leads on to fortune:

Omitted, all their voyage of their life

Is bound in shallows and in miseries.

On such a full sea are we now afloat,

And we must take the current when it serves

Or loose our ventures.

I am developing a Dumb Wives indicator. Over the past year, about a half dozen posters have reported here that their silly wives insisted on staying with their Dow and S&P stocks. Often these wives' stock preferences were taken as contrary indicators. A glance at the XAU vs. the S&P tells the tale. As I mentioned here in August, there might be a short-covering rally gold and there might be one again soon. That doesn't mean the Dow and the S&P stocks are poor investments here, especially if one buys companies that will benefit from lower import prices and depend only on the US economy for profits. Every bull market comes to an end, of course, but I'm sticking with my Dumb Wives indicator for now. Wish I'd cottoned on to it sooner.

( Kenneth Courtis is chief economist and strategist for the Deutsche Bank Group in the Asia-Pacific )

.............HERBERT HOOVER IN TOKYO

.............SURE, SOUTHEAST ASIA HAS PROBLEMS,

.............BUT IF JAPAN'S SLIDE CONTINUES, WATCH OUT!

“The combined effect of sliding export profits, more bad debt, higher taxes, falling growth and weakening sentiment has been to put the Japanese stock and real estate markets under renewed pressure. Commercial property values have fallen 70% since the 1990 peak and 5% in the past six months. The Nikkei has plunged to the critical level of 16,000 to 17,000, at which the banks no longer meet their international capital requirements. Should the market drop any lower--and with no major change in policy, that is likely -- Japanese banks will have to liquidate international assets. Much of these are in the U.S. Treasury market. That could destabilize world bond markets just as growth in the U.S. and Europe early next year leaves authorities little choice but to raise interest rates.”

In light of this Breaking News, a re-read of the ORACLE’s prophetic observations and ultimate consequences for the U.S.

T-Bond market and GOLD WILL PROVE VERY PRODUCTIVE - see series “JAPAN BETWEEN A ROCK & A HARDSPOT:

http://www.gold-eagle.com/gold_digest/oracle1106.html

For general info. here's Barron data :

Troy ounces ( millions )

US 261.7

Canada 3.1

Australia 2.6

Japan 24.2

Austria 10.1

Belgium 15.3

Denmark 1.7

France 81.9

Germany 95.2

Greece 3.5

Italy 66.7

Netherlands 27.1

Norway 1.2

Portugal 14.0

Spain 15.6

Sweden 4.8

Switzerland 83.3

UK 18.4

Sub total 1,099.5

They quoted their sources being:

CPM Group

IMF

Oil producers and the oil industry would get slaughtered in a worldwide depression. Then what happens to the wonderful world of oil for gold. Gold will still be money. But oil is only one item and one that would not be in high demand in a world too broke to pay for virtually every aspect of the product and industry in all forms.

There would be a drought in the financial expansion sector. The largest engine of which is the United States. Clearly at the top of the heap in the debt department, both its citizens and its government are broke and await the repo man.

When it is time to pay the piper, and free credit and money out of thin air is not in vogue Jed Clampett will have to go back to the hills. Ellie and Jethro will have to get a job and granny will spend most of her time in the kitchen trying to figure out how to make potatoes taste different 3 times a day, seven days a week.

It sounds like the 'editor' is a ) lazy b ) unimaginative or c ) on the 'shorts payroll'.

That doesn't instill confidence... could his future predictions be any better....

I think he lucked in flying on the US coatail...the YoYo has still to prove himself..now that global turmoil have changed the rules of the game...

The CB's are beginning to lose the confidence game....Canada could be another nail to the coffin...

First the support ( Brazil, Canada, Mexico ) than the US $

http://www.thestar.com/editorial/money/index.html

gold mines in Australia and the South Africa were reported to

have bound up because of high cost and low gold prices.

Therefore, gold biscuit edged up by Rs 10 at Rs 4125 and

standard mint gold marked up by Rs 5 at Rs 4125 per 10 gram.

http://www.expressindia.com/fe/daily/19971202/33655173.html

and what exchange? SDR'er, I can't believe it either,

an inverted yield, I don't follow the yield curves

are you sure? Or is this a secret we're not supposed

to see because the tlkg-heads don't mention it?

Asian banks have bad loans of more than US$108

billion and need an immediate and massive injection

of cash to recapitalise their balance sheets, Jardine

Fleming says.

The injection - estimated at $55 billion - needed to

be directed towards Seoul and Bangkok, where the

financial sectors' problems were most acute, analyst

Vinod Changarath said.

The magnitude of the [bad-loan] problem has

raised investor concern that banks will have to

recapitalise or else become insolvent. In either case,

shareholders will lose, Mr Changarath said.

In October, Jardine Fleming said bad loans might

total $73 billion, a figure that now appears on the

low side.

The weak link will be the source of funding in a

region that is facing its biggest cash-crunch in a

decade as foreign lenders shy from rising risk.

He said governments would have to step in.

South Korea needs $31.8 billion and Thailand $16

billion to recapitalise even if two years of

prospective cash flows are factored in, Mr

Changarath said. These amounts work out to 172

per cent of existing shareholders' equity for South

Korea and 132 per cent for Thailand.

There is thus no avoiding some form of state

intervention in these countries. The state is the only

likely agency, unless they put the banks up for sale,

and that may be politically difficult, especially in

South Korea.

The study examined the balance sheets of the 63

listed banks in the five Asean economies of

Malaysia, Thailand, Singapore, Indonesia and the

Philippines, plus South Korea.

It estimated that between them, the firms had

$108.5 billion in non-performing loans, and

assumed that 70 per cent of those would have to be

written off against shareholders' equity and

provisions.

The difference between [a bank's] remaining

shareholders' equity and that needed to meet capital

adequacy requirements is the amount the bank

needs to raise, Mr Changarath said.

The picture that emerged showed vastly different

levels of need across the region.

Surprisingly, we found that most banks, excluding

those in South Korea and Thailand, are

capital-sufficient [based on country-wise minima]

provided that two years of prospective cash flows

are added in, Mr Changarath said.

Bank sectors in Indonesia, Singapore and the

Philippines came in with a clean bills of health,

although Indonesia slipped into deficit if the two

years of prospective cash flows were stripped out.

The Malaysian situation raised some concern. Mr

Changarath said Malaysian banks were expected to

be short of the statutory minimum by just $100

million.

However, . . . the Malaysian bank sector does not

pack enough capital cushion to weather an earnings

shock. If cash flows for 1998 and 1999 are set to

zero, Malaysian banks show a $3.7 billion deficit in

capital, he said.

http://www.scmp.com/news/template/templates.idc?artid=19971202011915015&top=rel&template=related.htx&maxfieldsize=2851&PrevID=19971202011915018//&PrevTop=biz//&PrevTemp=Default.htx//&PrevMFS=3194//

History...MUNNI MUNNI COMPLEX -

( 1 ) In 1987 - Elizabeth Hill ( part of Munni Munni ) discovered by Italian resource group Agip - drill results up to 3172 g/t. ( 2 ) LEG/ECM take over project - their drilling program grades up to 164,000 g/t Ag ( 16.4 % ) . ( 3 ) Mineable resource at Elizabeth Hill conservatively estimated @ 3.05 Moz Ag, with Ag @ A$6.50/oz worth $19.8 M. ( 4 ) From previous drilling bulk sample grades estimated to range between 0.7 % - 3 % of Ag equivalent. ( 5 ) Now let's stand back for a moment and consider JubileeMine NL ( new

HOT nickel project ) . Reported 10 -12 % Ni - price took off big time. I know we're talking about silver here but REMEMBER at current prices a 1 % SILVER GRADE is equivalent to a NICKEL GRADE OF OVER 50 % and I must say this seems very likely given the areas history. ( 6 ) They have already confirmed the presence of massive sulphides and native silver. I won't at all be surprised that Munni Munni will proves to be a very ri

MUNNI MUNNI COMPLEX - SILVER, PLATINIUM

Last week I posted a commend concerning Legend Mining, who are in joint venture with

East Coast Minerals on three projects in the Pilbara district of Western Australia.

Geology reference......AGSO Bulletin 242 Petrology and platinium group element

geochemistry of Archaean layered mafic ultramafic intrusions, west Pilbara Block,

Western Australia. ISSN 1039-2645

Known Resources of the Munni Munni complex..................20 to 30 million tonnes @ 3g/t platinoids, inferred resource. 3 million ounces of silver, indicated resource. ( 1 ) In 1987 - Elizabeth Hill ( part of Munni Munni ) discovered by Italian resource group Agip - drill results up to 3172 g/t. ( 2 ) LEG/ECM take over project - their drilling program grades up to 164,000 g/t Ag ( 16.4 % ) . ( 3 ) Mineable resource at Elizabeth Hill

conservatively estimated @ 3.05 Moz Ag, with Ag @ A$6.50/oz worth $19.8 M.

Sorry lads, but it keeps on dropping information. Try again.

Last week I posted a comment concerning Legend Mining, who are in joint venture with

East Coast Minerals on three projects in the Pilbara district of Western Australia.

I am a Legend shareholder.

Geology reference......

AGSO Bulletin 242

Petrology and platinium group element geochemistry of Archaean layered mafic ultramafic

intrusions, west Pilbara Block, Western Australia.

ISSN 1039-2645

Known Resources of the Munni Munni complex..................

20 to 30 million tonnes @ 3 g/t platinoids, inferred resource

3 million ounces of silver, indicated resource.

( 1 ) In 1987 - Elizabeth Hill ( part of Munni Munni ) discovered by Italian resource group

Agip - drill results up to 3172 g/t.

( 2 ) LEG/ECM take over project - their drilling program grades up to 164,00

Sorry lads, but it keeps on dropping information. Try again.

Last week I posted a commend concerning Legend Mining, who are in joint venture with East Coast Minerals on three projects in the Pilbara district of Western Australia.

I am a Legend shareholder.

Geology reference......

AGSO Bulletin 242

Petrology and platinium group element geochemistry of Archaean layered mafic ultramafic intrusions, west Pilbara Block, Western Australia.

ISSN 1039-2645

Known Resources of the Munni Munni complex..................

20 to 30 million tonnes @ 3 g/t platinoids, inferred resource

3 million ounces of silver, indicated resource.

( 1 ) In 1987 - Elizabeth Hill ( part of Munni Munni ) discovered by Italian resource group Agip - drill results up to 3172 g/t.

( 2 ) LEG/ECM take over project - their drilling program grades up to 164,000 g/t Ag ( 16.4 % ) . LkAm

Sorray lads, but it keeps on dropping information. try again.

Last week I posted a commend concerning Legend Mining, who are in joint venture with

East Coast Minerals on three projects in the Pilbara district of Western Australia.

I am a Legend shareholder.

Geology reference......

AGSO Bulletin 242

Petrology and platinium group element geochemistry of Archaean layered mafic ultramafic

intrusions, west Pilbara Block, Western Australia.

ISSN 1039-2645

Known Resources of the Munni Munni complex..................

20 to 30 million tonnes @ 3 g/t platinoids, inferred resource

3 million ounces of silver, indicated resource.

1. Recent ASX announcement

LEGEND MINING NL 1997-11-26 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++ At 2:00pm on Tuesday 25/11/1997 ( West Australian

Time ) geologist

G'Day from Kalgoorlie in Western Australia.

Last week I posted a comment concerning Legend Mining NL. I am a Legend Mining Nl share holder.

Munni Munni Complex:

from limited exploration the following resources are known.....

Inferred resource of 20 to 30 million tonnes @ 3 g/t platiniods

Indicated resource of 3 million ounces silver.

Early days.

1. ASX Announcement

LEGEND MINING NL 1997-11-26 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++ At 2:00pm on Tuesday 25/11/1997 ( West

Australian Time ) geologists reported that the exploration crosscut drive

exposed visible native silver.

Samples have been dispatched to the laboratory for detailed analysis.

Results will be released when available.

As previously advised the joint venture partners intend to extract a

bulk sample of o

G'Day from Kalgoorlie in Western Australia.

Last week I posted a comment concerning Legend Mining NL. I am a Legend Mining Nl share holder.

Munni Munni Complex:

from limited exploration the following resources are known.....

Inferred resource of 20 to 30 million tonnes @ 3 g/t platiniods

Indicated resource of 3 million ounces silver.

Early days.

1. ASX Announcement

LEGEND MINING NL 1997-11-26 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++ At 2:00pm on Tuesday 25/11/1997 ( West

Australian Time ) geologists reported that the exploration crosscut drive

exposed visible native silver.

Samples have been dispatched to the laboratory for detailed analysis.

Results will be released when available.

As previously advised the joint venture partners intend to extract a

bulk sample of o

G'Day from Kalgoorlie in Western Australia.

Last week I posted a comment concerning Legend Mining NL. I am a Legend Mining Nl share holder.

Munni Munni Complex:

from limited exploration the following resources are known.....

Inferred resource of 20 to 30 million tonnes @ 3 g/t platiniods

Indicated resource of 3 million ounces silver.

Early days.

1. ASX Announcement

LEGEND MINING NL 1997-11-26 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++ At 2:00pm on Tuesday 25/11/1997 ( West

Australian Time ) geologists reported that the exploration crosscut drive

exposed visible native silver.

Samples have been dispatched to the laboratory for detailed analysis.

Results will be released when available.

As previously advised the joint venture partners intend to extract a

bulk sample of o

Im glad that you hope you are wrong - your hopes are fulfilled -

because you ARE.

Im glad that you have friends - both in and out of

the mining industry - I can understand that the reaction

of your friends that are familiar with RSA is similar

to mine.

The tribal war that you referred to is apparently

going to between the WHITE tribe and the BLACK tribe.

Very good Zadeak - many of us are familiar with those

tribes. I had mistakenly pictured something more

subtle.

Winnie ( next deputy prime minister according to a

new prediction of yours and possibly a month old copy

of TIME magazine ) will apparently lead this battle

for the Black tribe. You seem to think that The White

tribe ( I am a member of this tribe ) has the power and

the guns. Maybe that copy of TIME is much older than

I thought.

As you MUST know, Winnie has been implicated in a

string of murders of child activists and the murder

of a doctor in a attempt to cover up her less appetising

activities. Her appeal even to militants has faded a lot

( and was always overstated ) . The ANC seems to be

disassociating themselves from her as fast as they can.

She is also rumoured to have been a spy for the South

African Police. Hard to see her as next deputy PM IMHO.

You seem to think that the US is the World's largest

gold producer - You got that wrong too - I believe that even

the restructured ANGLO american gold company will

outproduce either Canada or the US.

I look forward to your next set of predictions

with GREAT interest but I suggest you may wish to spend

a bit more time at the old drawing board.

Crusty calling Salty

You are a sweetie pie

For Spock

Do you believe I was seeking a friendly response Come now old

buddy -

Trying to remember-

believe it goes something like this

( change in money supply ) + change in velocity =

( change in GNP ) + ( change in GNP deflator )

OR

( Monetary Base ) * ( velocity ) = GNP

Im sure I have this screwed up some way - but its

close = please enlighten me

Somehow we survived another gold down day!

By the way, MidAmerica has not caught on to the gold coin rally yet.

Scenario One:

The gold price is kept stable or low, so that Arabs ( and other insiders ) can quietly buy gold on the OTC markets, for whatever reason, perhaps subsidize the purchase of oil. The Asians have taken advantage of the low gold prices, and are also buying at the same OTC prices. At some point in the above scenario, others - general public? senses the buying activity, and is discouraged from buying by a steadily dropping price of gold. Why buy when gold is still getting cheaper?

The dollar is strong, simply because gold is priced in dollars. This approach will fail abruptly when the gold price can no longer be steadily pushed down, and the price of gold will skyrocket.

Scenario Two:

Wealthy sponsors of the ECU/EMU/EURO wish to keep the US dollar strong, to maintain a favorable balance of trade, at least until the effective deadline of entry into the European Union ( sometime before Jan 1, 1999 ) . The sponsors sell or loan gold to keep the dollar strong, benefitting from the interest that they can earn from their dollar purchases. When the ECU is successfully launched, the sponsors will sell their dollars, weakening the competing US dollar in the process, and strengthening the EURO. This process in weakening the US dollar is likely to be relatively orderly.

Scenario Three: Gold is being traded at the LBMA as it has been traded for over 200 years. Central banks can loan each other gold, so that the recipient can use the loaned gold to create more ( US dollar ) reserves to cover emergencies. No official book entries are needed, since gold is not actually sold. By doing this they also convert a nonperforming asset ( gold ) into an money making one, as long as gold prices are stable or dropping. When excess gold is available, reflected by dropping gold prices, the market is liquid, and dollar purchases with interest earned are attractive. If gold is not readily available for loans, this central bank source of liquidity dries up. If there are several central banks in crisis, and the gold-rich central banks are propping them up, at some point these trades will unravel when the gold-rich banks run out of gold loans. The gold-rich banks would probably not want to sell their gold to bail out another weaker bank. However, if the pipeline dries up, one of the weaker banks may fail abruptly, possibly triggering a world-wide financial crisis. This last scenario could also cause a dramatic rise in the price of gold, with potentially dire consequences.

My assessment is that some mixture of the three above scenarios is actually happening. Key to all of the above is to make gold readily available to the markets. When the gold sales end, or the loan supply dries up, the dollar will fall, and gold will rise. In the 200+ year history of the LBMA, this process of central bank selling has happened before. One of the times was in the 70's when the US wanted everyone to believe that the dollar could be kept firmly pegged to gold. I would guess another time like this was in the 20's when gold left Europe for the US. Now the gold is going to Asia and the Middle East.

Gee fellas - this site is becoming really

entertaining. Lately, it's like reading say The Pelican

Brief, or worse.

Its becoming a fascinating mixture of voodoo,

economics, politics, geopolitics, history, partial

truths, conspiracy theories. It also has some good info

sometimes.

The post by Tzadeak is a good example - the guy had

me going - some good points like the NAZI swiss gold

propaganda play.

But then comes the prediction - a tribal war in

South Africa in 1999 which stops gold production.

Golly GEE. What utter crap !! And at least for me,

the whole item is discredited.

What tribes are going to fight this war exactly

Can you name a tribe Do you know anything about

RSA RSA has been imploding or tanking or

drowning in red ink since I started reading Kitco.

It gets a little tiresome folks.

How about a rebellion in Quebec with millions dead

How about USA nuked by Iraqi suicide troops carrying

Russian suitcase bombs

More realistically - how about US conspiracy

to acquire all world gold and production thereof

backfires as reorganized South African mines ( with

worlds lowest average cost ) force North American

closures. US forced to destroy South Africa with

Nuclear missiles.

Your other two predictions are also not going to happen.

Come on Tzadeak - Life is tough enough without

this kind of sillybuggers kidstuff. Get serious, boyo.

I too have shared your interest in classical monetary theory and its possible influence on the markets...

Nominal GNP is equal to your monetary agregate of choice ( Mx ) times velocity.

If the additional dollars being printed by the Fed/treasury are sitting under pillows in Moscow or Sao Paulo then the additional reserves will not drive inflation ( or interest rates ) higher because the velocity is being reduced.

Anybody out there on this list have any pointers towards an independent method of calculating velocity? My rememberances from my college days was that most economists just assumed a stable velocity in their calculations. I seem to remember most papers on this subject only estimated velocity as a dependent variable from the know ( i.e. published data ) for nominal GNP and money supplies...

All of the above being said 'Steady', I do agree that monetary aggregates are going to be looked at more closely in the future, becuase the large , sustained increase in monetary reserves will rear its head somewhere down the line.

Silver - Comfortably within the channel, and with tonight's action, seems headed back to the channel top.

Gold - With all the negative hype, gold has barely broken out of the channel bottom, but seems reluctant to leave this channel. Clearly not a positive sign, but it could be worse. Certainly no clear change in the trend, at least not a major change, yet. Also clearly not a climactic collapse. Why not? It seems to be expected. It appears that somewhere, someone is supporting gold.

Platinum - Although PL price is skidding along the channel bottom, the new downward trending channel seems to be holding. Looking better as an opportunity to go long.

Palladium - Via its languishing sideways motion, it has clearly broken out of its long-term upward channel, and a change in trend is in progress. Although it may still be too early to predict where it will go from here, it seems the new channel top I tentatively defined a week or so ago may well hold ( the dotted lines ) . For risk takers, this may well be a good shorting opportunity.

Exciting times. Definitely not boring.