By the way - - please don't think that the average American is a liberal as you have defined it in your hilarious posts. The liberals ( as defined in the American sense ) have nearly complete control over the news media, most of the education system, and much of the political system. But - - I think the average American is still relatively conservative. It is just as someone on this site pointed out - - that the political conservatives cannot seem to get their act together - - most of the time.

Anyway, any time the markets are being driven in this way, the risk of a sudden change goes way up. All we need now is some sort of trigger, and we will have the correction that we all think may be coming.

But - - as we well know - - lock step does not mean a crash is imminent, it just means that the probability of same has gone up.

The alternative - - a US market rally right now - - - is highly unlikely, unless there are other non- US crises still to come.

We just need to keep our powder dry! I wonder, do you think AG is doing the same in the USA? I would! And our AG is just as sharp as any of us gold bugs. The French are just as gold- buggish as the Germans so they certainly would not let the Germans hoard all this cheap gold.

I wouldn't be suprised to find that during the first quarter of 1998, there was net CB gold buying, not selling.

Of course, we could still be in a technical gold bear for some time - - but the next international crisis - - be it from the US Presidency, trouble in the Middle East - - or a EURO fiasco will be the deathknell of the gold bear.

My point is what these people are saying is not really very complimentary at all if you read between the lines, and these are former key white house members. What they are very diplomatically saying is that the web of lies that has been built up over the years is unraveling.

I find all of this interesting because I do not understand what is different about the last two nights. My opinion of what the president has been doing for the last several years has not changed. But - - now the mainstream press is talking openly about the web of lies coming out of the Presidential office. This is catastrophe theory in action - - the tsunami has broken - - and nothing will be the same again.

I must admit that I am saddened that the Office of the President has been brought to this point in time, very much like the situation with President Nixon. But - - - I am proud that the American way of searching for the truth is still intact - - there is hope for us all after all.

Lets just get over this embarrassment quickly - - but I doubt it will be quick.

Tonights theme music - - Mike and The Mechanics with Silent Running, All I need Is A Miracle, You Are the One, A Call to Arms, and TAKEN IN.

Followed by Chris Rea featuring The Road To Hell ( Part I & II ) , You Must Be Evil, and Texas... May include Tell Me There's a Heaven

Opps, I didn't mean to give the White House music request list away.....

Bill -

Things are moving fast now and we don't have much time. The hog is in the tunnel and from here on out it's chainsaw politics and karate in the clinches. Make no mistake about it Willie, this whole thing could have Arkansas mosquitoes bingeing on Ex- President blood by summer. Time to get proactive; a short priority list:

1. Shut up. Let the crap fly and don't respond. Your bumbling last night smacked more of OJ than Nixon. Don't lock us into a defense. Say no more until your new attorney calls ( see 4 ) Business as usual, try to look presidential. No more of these photo ops like the one with Yasser Arafat this morning. I heard Yasser offered you some advice today, but goats don't talk is too late and too little, and is of no help at all once the goat has squealed. No, we need something stronger here, something bold. I've arranged a private screening of Wag the Dog, maybe we can get some ideas there. Seems a bit tame now, though.

2. Send Al off somewhere on some fact- finding trip or some damn funeral, anything……… just get him outta' town. That little ferret is salivating already and would gladly squeeze off a small caliber bullet behind your left ear if you somehow managed to beat this rap. Gore is not one of us, never was. Call the secret service and have all Al's men switched. That will rattle him a bit, cost him some sleep. I'll arrange to have Tipper mugged, nothing too rough but Al will get the idea. This should buy us some time. We gotta keep an eye on Al now, he's on to the scent and in a rutting mood and he can smell those striped jammies with the Presidential Seal.

3. Lie to Hillary and let me know if she gets too uppity. I'll have Rocco sit with her awhile, he'll calm her down.

4. Prepare to meet your new defense team. Bennett is out, he's not a wartime cosiglieri and we need to get tactical now. We're bringing in Johnny Cochran on this one, and with the right retainer I think we can get Robert Bork for the constitutional side of things. We'll need to beef up the defense fund but I can filter a few mill in quietly using that cute little intern, what was her name? OH…… forget about that idea, never mind, I'll get the cash to you somehow.

5. We'll need to do some of our own depositions. Got a line on a warehouse down by the Potomac that is very isolated. I'll bring the Phenobarbital and pentathal, the polygraph, and the Tasers. We'll turn her story around. Once we're done with her, Starr will look like a fairy.

Time to hunker down and suffer the shelling, but we can win this one. I gotta go, Johnny just got here, we got work to do. We've already come up with a couple ideas on how we could play this. Johnny thinks we ought to center tthe defense on jury nullification, If it doesn't twist, You must acquit, or some damn thing like that. Keep your mouth shut, stay calm, lay off the booze and I'll call you later.

OK

RJ

http://www.intersurf.com/~vor/usd.html

It may look tempting, but it just might become a case of going from figuring the return on, to a worry about the return of.

( A short- term chart of this is at Goldsheet on the web )

Many people think the ratio will continue to fall until it reaches 25 or 30, and perhaps even lower than this, if an all- out flight to precious metals were to occur. ( We hope! )

A gold/silver ratio of 30 would imply that silver could go to US$ 10/oz, even if gold goes nowhere. If gold goes to $500 ( a 67% increase ) , which I think is a real possibility, silver would be at $16 ( a 167% increase ) , a 2.5 to 1 advantage for silver from here. ( rough numbers )

One thing that perhaps drives this ratio, is the fact that since silver is the poor- man's gold - almost anyone can afford to buy a little, whereas gold is out of the reach of many people.

I personally think that the supply- demand fundamentals and low stockpile overhang for silver vs. those for gold are compelling in favor of silver, but whether history will repeat, we shall see.

Bart - while I am most appreciative and addicted to your site, I am a bit concerned about your advice of 18:46. You obviously believe, as I'm sure RJ and Glenn would agree, that the current silver tightness is somehow contrived or created. You all may be right, but then again, you may be wrong. If you are right, and this is an artificial tightness, by advising someone to sell their cash silver and buy a more deferred position, the best that can be hoped for is the pick up of a few cents. However, if this is a genuine shortage ( I'm in that camp ) , the deferred position is subject to default. It doesn't seem a prudent risk/reward trade- off. I know I beat this to death, but this is exactly what the CB's have been doing for years by leasing. Hope you don't feel I'm ungrateful for all your efforts.

Date: Thu Jan 22 1998 16:29

2BR02B? ( @baba ) ID#266105:

Politicians are the secular saints who keep the real ones

from killing each other.

...And Saddam will get all the extra time he needs...to realise the thing!

Saddly the press in a frenzy orgasm too,right now.

accumulating a few hundred tons of the shiny stuff in very short order.

Although these folks were forthright in announcing the success of this

program, their intentions of what they would do with their accumulation

was not as clear.

At the outset of the program, the government announced the tonnage

would be sold outright with the proceeds primarily being used to shore

up the ( then ) falling won. Then later when they have the bullion in

hand they suggest the better part may be retained in their vaults

as a metal reserve. I strongly believe they intentionally used this

double- talk to work towards their advantage. Allow me to explain

towards what end.

Having stated they would keep their newly- accumulated gold within the

country, combined with their reassurance to overhaul their financial

practices, has provided relative stability to their local currency.

But in reality, they remain cash hungry and are in fact selling the bulk

of the metal onto the market in a desperate move to pay off their

maturing debts that weren't covered under the recent bank credit

extensions ( or perhaps just to help meet the interest payments on

their extended debts. ) If true, it is indeed an ingenious ploy - well

done gentlemen! Make the world think your keeping the stuff ( provides

won stability ) while actually using the stuff to generate cold hard

cash ( to pay off interest on the bills. ) At least it's bought Korea

some precious extra time to recover.

In terms of the impact on the POG in the short- term ( for the next

4- 6 weeks out - or longer if the program continues at its current

success rate ) their bullion divestment program will act as a damper

to prevent any significant upward price swings. IMHO they are selling

gold onto the market in smaller chunks, taking advantage of upward

price moves without impacting the price in a sustained negative

fashion. A great way to ensure a stable cash flow. During this period,

I look forward to capitalizing on gold stock price movements as the

shiny stuff continues to oscillate within the 275- 300 price range.

I'm glad to have your input; what we all really care about is that both go up, not which one does the best. I also own gold and gold mining shares, as well as silver and the silver miners, so I have an interest in both.

As we all know, neither of these markets is very transparent, and good statistics are very hard to come by.

GOOOOOOOOOO Durban Deep!

$285 billion to buy all the gold, $2 billion to buy all the silver.

Which do you suppose will get bought up first?

Carpe argentum!

The problem is, only 15- 20% of the total silver used COMES from SILVER MINING !!

The remainder of silver produced is a byproduct from copper, zinc, gold, lead mining. Nobody is gonna mine more of those things just because their 1 or 2% by- product ( silver ) doubled in price......

If there is a world slowdown, this 80- 85% stream of silver will dry up proportionately, and tend to eliminate any silver surplus that would accrue due to decreased economic/industrial activity.

Nothing in this world is a sure thing, but silver ( 1- 2 years from now ) comes as close to a win/win situation as you are likely to find, anywhere.

COMEX stocks at that time represented a small fraction of the total.

Not so, now. COMEX represents something like 1/2 or 1/3 of WORLD commercial stocks.

In comparisons of gold vs. silver, consider just how much money it would take to buy ALL the identifiable stockpiles of both metals: The 200- 300 million oz of silver, or the Bo- zillion ounces of Central Bank gold holdings plus COMEX and London stocks.

No contest.

If WORLD ( not just COMEX ) commercial stockpiles available for purchase are only 2 to 3 times the COMEX stocks, then these big players know that they can capture the market for ( only ) a couple billion US$ before the END GAME is visible to almost everyone. This is big money to you and I, but nothing in the grand scheme of international finance.

Follow George Soros; if he is interested in silver ( Apex ) , so should all of us be.

P.S. Can you direct me to historical COMEX silver stock data? I only have charts from GNL of world commercial stockpiles.

One might argue that this post is completely unrelated to White House sex scandals but I disagree. I'm sure Hillary must own some sterling flatware that they use when discussing the case at the supper table.

NEW NETIQUETTE RULE in effect..So you don't have to go find it, here it is: Don't use the group as a medium for promoting websites in which you have an interest. Place a listing instead in our Web Resource Links section. It's free.

To anyone who's been doing this, you know who you are...thanks for your cooperation in keeping Kitco postings commercial free.

I'm posting some unsolicited email I recently received from somebody who charges money to promote you on the internet. Discussion groups are targeted as places where they will go to do their promotional work. The letter is in its entirety and I've highlighted the parts about how they use discussion groups. The names are unchanged but in order to avoid promoting their company on this discussion group I've changed the email address.

But taking physical silver delivery while ( same party or someone else ) is bidding the paper silver price down sounds plausible...Got any other ideas?

Looks like someone is accumulating silver in a big way, but only on 'down' days so they can't be taken to court for pushing the price up.

The following day, the price of silver bounces up. Watch for this tomorrow.

GOOOOOOOO Durban Deep!

statement “So we'll now have to hope that gold does not fall,” do I

detect a bias to the bull side?

Harmony's results are in now - An operating profit

but a loss of 0.30R/share after capex. Much better

than the prior quarter's loss of R1.08/share at a higher

gold price. Harmony have reduced manpower from 18800

workers in the september quarter to 11700 at the end

of the december quarter. The outlook for the current

quarter is promising - tons milled and gold output

will drop 20/25 % but costs will fall to $ 285/oz

or less.

To Mr Zadeek

I think your advisor whose name I have trouble with -

( sounds like sassifras ) any way you know who- mixed

up Table Bay with Echo Bay. I think this man maybe was a

foreign flag south african double agent sent over to

lull NA mines into a false sense of well being as South

African Mines ( as part of grand Rothschild conspiracy )

take over the world. Gee - Im right in the middle

of this - how lucky can one man be

While on the subject of RSA, Look like PW Botha gets

his day in court tomorrow for refusing to show up at the

TRC meeting ( as I said he would - check my posts ) . ANC is

planning protest demonstrations - but then Madiba said

pw botha issa nota abova de law - so that's right- he's

in court- thats where they keep the law. Nats are asking

ANC to call off demos in interest of peace and

reconciliation, which puts them in position of either ( i )

backing down or ( 2 ) running risk of demo getting out of

control ( either way they look lousy ) .

Court is in George in the Western Cape. ANC position in

Cape very shaky anyway, and they are being manoevered by

Nats into making serious jerks of themselves. We will see

what cards PWB will play in court tomorrow. But you can

forget all about a revolution over this one ( unless PW

decides to toss firecrackers at the demonstraters or

some kind of sillybuggers which always possible ) . If

the ANC COULD spike news coverage ( like Governments can

in less developed countries ) they would do it in a flash.

If Hot day in George tomorrow - believe demonstrators

may wind up at the beach. We will see. Crunch day arrives

TOMORROW.

of this inflation, and that will mean the end of the era you have known.

Clinto is accused of lying under oath ( perjury ) , asking someone else to lie under oath ( suborning perjury ) , and withholding relevant information from investigators ( obstruction of justice ) . This is what brought down Richard M. Nixon, what negated Ronald Reagan's authority in his last two years in office, and I hope they barbecue Clinton's hindquarters because it's about freakin' time.

When the Democrats in the USA were honking and squawking about the October Surprise, they claimed the seriousness of the charges mandated an investigation, even though the only evidence was a rumor. They practically crucified Clarence Thomas on the unsubstantiated and uncorroborated allegations of Anita Hill. Time for them to taste their own medicine.

http://www.freerepublic.com/ ( Check HOT Forum )

I think the conclusion is obvious - - these fluctations in the US dollar are getting out of hand - - we should have had a gold- based world currency years ago ( not the dollar ) - - and now we ( the world ) are suffering from our folly. The SEAsia crisis might not have happened had they been linked to a gold- based currency, and not the dollar.

You are making things worse with Ziva - She does not want

you checking this info out with Chinese guys. Just be quiet

and accept it. Get ready for WW3. If nothing happens well then

we're ahead of the game. Dont make the girls mad though because

they add that feminine touch we need so badly. Its getting a

bit like the NY Yankees locker room here sometimes -

Can you send me the Chinese guys recipe for Mongolian beef.

I got Mikes rice and beans. I'm gonna start the GoldBugs Cookbook.

Maybe we can make some money that way.

I am a convert - where do I sign up. Dbn- deep is up 17 %

so far TODAY when last I looked. You wont believe me but about

6 months ago, I owned 2 per cent of the company and they would

call me up about doing things. Called me twice.

Each time I asked for more info and then said what are

the other options. They said that there weren't any so I

said well then lets go ahead. It was fun - kind of like

being a real person again, but pretty expensive overall.

I got in via the bufflesfontein/blyvy takeover by the brett

kebble chutzpah and paper machine.

I bought even more Buffles as some local nut with an obvious

death wish kept selling the stock down, and was driving me

crazy - finally he contacted my broker and offered ALL

his stock at 10% below market and it still had about a 15%

arbitrage advantage in it on the switch to DD ( He wanted out for his

own reasons ) . So I took it. But boy I had sleepless nights

and I finally sold it all off so now all I have is options

at a crazy strike good through 2003 I think.

For Ziva - - Please come Back ziva - Oris is really sorry.

Barry Switzer, clearly upset about the Cowboy's losing record, decides to visit the 49ers head coach, Steve Mariucci, so he goes to a 49ers practice one day.

Switzer: Coach, your team is always so good. What's your secret?

Mariucci calls Steve Young over and asks, Steve, who's your father's brother's nephew?

Young: That's easy coach. It's me!

Mariucci: That's the secret, Barry. A smart quarterback. You've got to have a smart quarterback.

Now having the secret, Switzer returns to Texas. At the next Cowboy's practice, he calls Troy Aikman over and demands Who's your father's brother's nephew?

Aikman: Can I get back to you on that coach?

After practice, Aikman finds Deion Sanders and tells him about Switzer's strange question.

Sanders: Duh! That's easy. It's me!

Aikman finds Switzer in the parking lot and says Coach, I've got it now. My father's brother's nephew is Deion Sanders!

Switzer, looking very disgusted, replies NO, NO, NO! You idiot! It's Steve Young!

Go Packers!!!!

http://www.canoe.ca/MoneyNews/jan22_cdndollar.html

For Super Bowl junkies - the best bet available IMHO is A. Freeman scoring the first TD at 6- 1. He will be defended by the famous Darrien Gordon of San Degio Charger fame. Holmgren is great at building a game plan to exploit a player. Freeman should have a big day.

Good luck all

Gaston

http://www.reyngraph.com.au/kalbldtsm/html/kb.html

Go to a Latin market and get small sweet chilies. NOT HOT. They are little, roundish, green and red and yellow.

In a big tall soup pot saute about ten chopped up sweet chilies along with 1 big chopped onion, and a chopped green pepper in about 2- 4 Tbs Olive Oil. Add 1/2 tsp ground cumin, and 1 tsp mild curry powder ( Jamaican is nice ) When onions are just about golden ( the gold part justifies this recipe on Kitco ) add about a cupful of roughly chopped fresh coriander ( Chinese Parsley )

Stir a few more minutes, then add about 2 quarts of water, and about a little less than a pound of dried black turtle beans. Add a Tbs salt, and a package of smoked pork neckbones ( get it in any supermarket ) ( ( should be 7 - 10 chunks ) ) .

Bring to a boil, cut back to a simmer and cover. Cook at medium covered simmer until beans are done, and liquid is at a thick consistency for ladling over rice ( keep an eye on the thickness, adding water when needed ) . ( probably 1 - 1/2 hours ) Add salt to taste after the first half hour. A packet of Goya Sazon ( con Achiote! ) would not be out of step with modern day cooking here, tho it is not authentico in the total sense of the palabra. Add a nice bunch of fresh washed coriander in the last 10 minutes. Feeds 4 or 5, with leftovers. Make a sh*tload of white rice to taste, and serve with plenty of cold beer and meat or fish of your choice. Ainemah!

http://www.nytimes.com/yr/mo/day/news/washpol/clinton- friends.html

Ms. Lewinsky told Ms. Tripp that she was in love with Clinton, said one investigator, and that their affair had lasted more than a year. Several investigators said that Ms. Lewinsky also played for Ms. Tripp several taped telephone messages left on her answering machine by the president. Unbeknownst to Ms. Lewinsky, Ms. Tripp also taped this conversation, including the messages from the president, the investigators say.

NEW YORK ( MktNews ) - The dollar ended near session lows Wednesday after

weakening in afternoon activity on news that the White House may face an

investigation on charges of obstruction of justice, traders said.

Traders said liquidation of long dollar positions continued

during most of the session.

Though wrongdoing was denied by President Clinton and

White House spokesperson Mike McCurry, traders believe an investigation

could weaken the president and bruise U.S. financial markets.

The Clinton situation is putting pressure on the dollar, said a

chief dealer at a European bank.

They're really trying to nail this guy, said John Hazelton, chief

dealer at Manufacturers and Traders Bank.

Independent counsel Kenneth Starr - - of Whitewater fame - - will

seek an investigation into allegations that Clinton and his advisor,

Vernon Jordan, urged a former White House intern to lie to lawyers for

Paula Jones.

http://www.economeister.com/news/1998_01/21/163800ma.htm

Hay wait a minute - I think you're great Ziva -

maybe even magnificent - but dont get stuck into Oris

because he is my good buddy. Give him a break. He

takes a little getting to know... But he is a diamond.

And he is always a perfect gentleman.

For oris - what did you do to upset Ziva so much ?

Remember we NEED more ladies in this pub.

For Ziva - whatever Oris did - I apologise profusely

and from the bottom of his heart on his behalf. Let's

not have WW3 start HERE.

You're a devil

c......... means coat rack, right

about time they started saying it - I want a Government that

cleans the streets and kills criminals - nothing more.

for bro2b2 ? - - I really like that - sounds a bit tom

wolfish ( no 1 not no 2 ) - who said it - Great to find someone

awake at this hour.

Im listening to Ballo in maschera with headphones and

wondering what to do with myself today while gold goes up.

I love this.

Your posts are outstanding. Where did you come from

Your perception of the civil war as watershed in

American history is rare. Something like half ( or more )

of Americans cant date it within 50 years.

1. I sympathize with Ziva on Clinton promiscuity. If

You were maried to Hillary what would YOU do

2. Point 1 nonwithstanding I personally detest Clinton

- not for screwing around but because he represents

the epitome of all I loathe in big Government - hypocracy,

using his position for personal gain, social

experimentation to his benefit, you name it. I favour

a popular uprising with 3 months of street terror,

culminating in public execution of Goverment officials

down to say the managerial level - in the fashion of

Robespierre ( as described to us in the writings and

memoirs of the beloved Bernatz de Ventadorm ) .

3. In view of ( 2 ) above I am forced to downgrade the

US rating to the politically Unstable ( PU ) category regarding

purchase of their mines or MORE IMPORTANTLY their BONDS.

4. Jeez - - you mean v....... isnt veils. I gotta go

back and read all that stuff again?.

5. for Boris - Please email guidance on tebouleh

preparation - what are proportions ? and I dont have

a picture of what you do with the bulgar or cracked

wheat exactly. Can you use it to forecast gold price?-

I give up on prickly pears.

6. Dbn deep is going nuts - results out in a few days.

The RSA mines seem to be doing BETTER at low gold

prices. I find that very odd, dont you.