If the data is correct, then is inflation the concern in the U.K. or defending the pound? Perhaps their economy is too 'hot'...

I would add something to your post -- it is not just M1,M2,M3 unfortunately. It would be if the US dollar were not the world's currency. Every CB in the world has US dollars in reserve, and will not hesitate to dump them if their currency is in jeopardy -- such as Greece on last Friday. Perhaps more so now that people are dimly realizing that gold may be more valuable than dollars at current prices. And as Donald has pointed out, we really do not know how many dollars are outside the US, in addition to the known dollar reserves. Also as I think you pointed out, AG would be tightening our economic purse strings if the US economy was not so intricately linked to the world economy -- now at risk for another round of currency devaluations.

I sense that a sequence of events are playing themselves out -- and -- AG -- like us -- may have little control over the ultimate outcome. Looks like his international 'damage control' efforts are winding up inflating the US stock markets, reminiscent of what lead up to the stock market collapse of 1929. But this time -- there will be less savings to fall back on, or subsistence farming to keep food on the table. Our public welfare system/debt-based economic system -- supported by both parties -- has discouraged independence, or the need to save.

Donald: Never expected that our next round of currency devaluations might come from an unlikely source -- cheap oil!

I really took a serious hit today, but want to say thanks to all . I know many of you don't feel much like smiling, but you do anyway. Hell , look at the bright side, gold has an intrinsic value of $5.00. Our turn will come.

Gold is about power. Politic is about power.Sex is about power...

Even love is about power .....never heard about the power of love from Celine Dion from Quebec?

The wises men know who realy control who,and who is in power right now!

Gold is in the dulldrum....crushing...Get out AND GET OUT or stop weeping.The control and the power is obviously not there...!...FOR NOW!!!

BC is up 5 % more in the polls todays !

Dow is at 8700

Come back when the PMs are not lower than the White Cliffs of Dover.OK?

Don't worry...be happy...have a Big Mac...and a Coke.Now git ta work.; )

Go....err..aaa...?...hmmmmmmm....Gold?

Bill, try this. http://www.oregontrail.net/~mmontagne/mcfadden.html

But -- right now the majority do not think BC should be impeached, because there is 'no proof to the allegations'.

So - the seeds of doubt have been sown in the public. The trigger has been set, and the next revelation about BC's extracurricular activities will be far more damaging. Nixon's Watergate took about two years from start to finish. With our electronic media, I would guess 6-12 months. It may not be long before there is a paradoxical situation where the Democrats want him out, but the Republicans want to draw out the crisis to 1999. I think the xxxgate crisis will be most damaging to the Democrats if it rises to a creshendo in 1999.

Perhaps the biggest problem with 2yk will not be the computers after all.

ANNALS OF SCIENCE

The latest addition to the periodic chart: Administratium

The heaviest element known to science was recently discovered by physicists

at the University of Toronto Research Centre. The element, tentatively

named Administratium, has no protons nor elections and thus has an atomic

number of 0. However, it does have one neutron, 125 assistant neutrons, 75

vice-neutrons, and 11 assistant-vice-neutrons. This gives it an atomic mass

of 312. These 312 particles are held together in a nucleus by a force that

involves the continuous exchange of meson-like particles called morons.

Since it has no electrons, Administratium is inert. However, it can be

detected chemically as it impedes every reaction it comes in contact with.

According to the discoverers, a minute amount of administratium caused a

reaction to take over four days to complete, when it would normally occur in

less than one second.

Administratium has a normal life of approximately three years, at which time

it does not actually decay but, instead, undergoes a re-organization in

which assistant neutrons, vice-neutrons and assistant vice-neutrons exchange

places. Some studies have shown that the atomic weight usually increases

after each re-organization.

Research at other laboratories indicate that Administratium occurs naturally

in the atmosphere. It tends to concentrate at certain points such as

government agencies, large corporations, universities, and can actually be

found in the newest, best maintained buildings.

Scientists point out that Administratium is known to be TOXIC at any level

of concentration and can easily destroy any productive reactions where it is

allowed to accumulate. Attempts are being made to determine how

Administratium can be controlled to prevent irreversible damage, but results

to date are not promising.

Source unknown

Does anyone know what one needs to watch -- for short term vs long term inflationary effects?

Long - term inflation: National debt. Ie, I think increasing the national debt is long-term inflationary, as noone except professional dollar watchers will notice. The actual inflationary effects only occur when the US government is unable to meet interest payments -- years later. We probably could abosrb 1 trillion more in debt and never know it if we were not watching the numbers.

Intermediate term : Selling US newly created treasuries to foreigners, increasing foreign dollar reserves.

Short term: Printing money, buying US treasuries from foreigners, sudden sales of CB reserve dollars by foreign banks to stabilize foreign currencies in difficulties.

Comments, anyone -- --- Specifically, what do we watch? M2, M3, national debt, and?

As most traders recognize, the market changes often. Since the first of the year, I have been a buyer, seller, buyer, seller, buyer, and now a seller of gold stocks and funds. Since I feel that the trend is slowly down, I am now mostly cash.

If someone else tries to invest using my comments on this forum, then he will probably think I am wrong half the time. I consider Glenn's comments in that light. Don't try to make a long term decision by looking at short term comments, and if you do, it's your problem, not Glenn's. Because I am short term oriented, I understand Glenn's comments and find them very informative.

No meaningful source of good opinion should be discouraged from posting, even if he's crazy enough to think BC is telling the truth.

At last I can let out the breath I've been holding for a week or more. They are finally probing the bottom of this whole silver thingie. A flock-o-stops waits just below 5.90 and the dance has begun. I would be more comfortable seeing a break down to 5.60 before I add any silver.

Bought 1000 one oz Platinum Eagles yesterday near the low. The down is done, look for continued and sustained gains in platinum, while palladium writhes in the death throes of a soon to be obsolete commodity.

Gold could use a vacation. Could we take up a collection or something? Maybe a couple weeks in the sun would return some of the color to our faded friend. Who knows? Maybe gold could even get lucky, and return rested and full of vigor. For now, I'm staying away.

I'm inclined to think *these* are the good old days -- even as gold flatlines. ( There are still a few of us trying to secure our positions. It seems incredible to me that I can buy in for the same price I bought in last month. ) These days, despite our rising impatience with the lack of movement in POG, are still days of the order of what might be called normal, -- that is, days in which the old premises still *seem* to apply. When the stuff hits the fan -- and it will, and hard -- that broad or narrow circle of friends and associates about us will suffer. Bad. And one would have to be a Neandrathal not to suffer with them. True, our own immediate families should weather well -- due to our foresight. But the pain we feel for those beyond our inner circle -- pain is pain to whom love binds -- will hurt even so, especially by our helplessness as we watch them go down.

I'm in no hurry to see it come down, though it will as inevitably as night follows day. I am, however, urgently fixing my position -- blessed by every flatlined day 'til then.

Respectfully,

dj

I sincerely hope that this can happen in a series of stages, ( something like the way Gold went in a step-ladder, downward progression over the last year ) , because, if not, we may all be wishing for these 'good old days' to come back for the next 20 years.

321,832 Registered

156,258 Elligible

478,090 Total net change -296

Silver:

36,260,817 Registered

54,242,908 Elligible

90,503,725 Total net change -1,036,542

Aw, come on now, Mike - you are a valuable asset to this forum. We NEED and APPRECIATE your perspectives, even though I know that you take a lot of heat sometime for them. As to the Saigon recipes - sorry, but you're welcome to them - I'm afraid that I had enough to last me several lifetimes ( as a shavetail 1st Lieutenant in the field artillery ) , but nevertheless, I ask you to please reconsider leaving the forum - WE NEEDYA HERE!

IMHO, the emergence of a currency firmly backed by gold will come first from SEAsia, and not from Europe.

Eventually the dirt slinging splatters back on the face of the accuser.

http://search.washingtonpost.com/wp-srv/WAPO/19980316/V000049-031698-idx.html

Mexico and Venezuela wiped out by cheap $10 oil?

Dow 10000 secondary to foreign 'flight to safety' and the baby boomers?

North Korea invades South Korea for no apparent reason?

China devalues?

Japan deflates on the first phase of 'big bang' April 1?

BC fights impeachment, having been dumped by his own party?

The US dollar falls as international investors realize that M3 is growing too rapidly, with an ElNino-induced commodity price surge?

The European central banks go on a gold-buying binge, while keeping the price of gold rigidly controlled at a $295+-2 /oz trading range? Gold liquidity dries up unexpectedly due to this action, with a sudden rise in price, ending the gold bear.

I don't know what will happen. I think we should be on the alert for more deflationary worning signs in South America and Europe. My biggest concern is the collapse of the South American economies from the side effects of cheap oil. If we have no more financial collapses for a while, inflation will return to the US -- with a gold bull, or a drop in the US dollar as the likely first sign of trouble.

Keep your powder dry ( at least most of it ) .