To 223er: Thank you for the Bismuth link. I was looking for low temp.

casting alloys--used simular before.

I attended the Toronto conference too.

Techstock has a detailed report on what the diff.boys had to say ( from Jimsy )

http://talk.techstocks.com/~wsapi/investor/reply-4123279

I did not check to find out if this was posted earlier.

S.

Thanks for everything here.

http://kitconet.com/palladium.graph.html

There should also be a run on supply of physical which should push POG well beyond 200 day moving average.

Special thanks to Vronsky . Bought small amt of RANGY at l.25 on Monday and that is lst money I have made in PM's in 4 years, all the time being l00% invested in gold stocks and funds.

Tomorrow should be best day for PM's in a long , long time.

IMHO

How about Australian mines. TURKEYS!

To jman: The difference between spot and future is exactly ( by definition ) equal to the forward rate which is conveniently located at http:///gold.live2.html#leaserates.

Do you have any idea how many US dollars/treasuries are tied up in Yen carry trades, or gold-carry trades? Japan's US treasury sales may be only the tip of the dollar iceberg if the Yen-carry and the gold-carry trades unravel. Perhaps that is what the FED is worried about.

I'm not inclined to think that the determination of the percentage of gold backing of the euro will require settlement upon a price for gold. In fact, further thinking is leading me to the opposite conclusion -- that rather a percentage of euro gold backing just may be announced which is pleasing to all -- that is, all but goldbugs -- pleasing to those who would prolong the parallel market in gold. What we may see -- that is, what is posited as the important question, but what really just buys time -- is the public announcement of a gold/currency RATIO ( notice oil is not publically included in the ratio ) . However, at the same time, or within this realm of days, figure there is being enacted a real gold/OIL/currency ratio. Yes, ratio -- one enforced as Allen says, by oil and physical gold in the market. Allen continues: Any currency would then need to be disciplined in relation to these two 'commodities'. You see, if the POG itself can remain unsettled even as its percentage of backing of the euro is established, CBs may, for a little longer at least, continue their parallel markets.

It's kind of the reverse of the equation: Currency + Xgold = oil. By saying Currency = ( Xgold/paper ) + paper, and that currency ( [Xgold/paper] + paper ) = oil, there is not required the immediate need to settle upon a value for either gold or oil. Paper is the slider, the variable by which the music may continue playing.

As ANOTHER said ( Sun. Oct. 5, 1997, 21:29 ) : Oil is the only commodity in the world that was [is] large enough for gold to hide in. A corollary: For the time being -- that is, until gold is revalued -- oil is also large enough for THE EURO to hide within.

The announcement of ANY percentage of backing for the euro may just that, an announcement -- and probably low; the lower the announced backing, the lower goes the paper price of gold, and therefore the longer CBs may scramble before they're caught. On the other hand, the emergence of the euro just may be viewed as a most poignant indicator -- hiding right in front of our faces -- of the desperation of the parallel market games players.

Usually there aren't this many reasons for why raising rates are a bad idea, despite the fact that some tightening of credit is needed. My intuitive guess is also that it will take a sigificant interest rate increase to discourage all of those overstimulated baby boomers. Interesting times, IMHO.

I'm not positive the name is Hulbert, but it is close. Hope this helps. I like your 'name', by the way, but you are no 'Average Joe' if you post on this web site.

General -

I'm pleased to hear you got your response from Monex. I know we have been working more than a year on this already so, in many ways, we are way ahead of the curve. YK2 will cause no planes to fall on our clients.

OK

Proposing an amendment to the Constitution of the United States with respect to tax limitations.

IN THE HOUSE OF REPRESENTATIVES

February 26, 1998

Proposing an amendment to the Constitution of the United States with respect to tax limitations.

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled ( two-thirds of each House concurring therein ) , That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification:

`Article--

`SECTION 1. A bill to increase the internal revenue shall require for final adoption in each House the concurrence of two-thirds of the whole number of that House, unless that bill is determined at the time of adoption, in a reasonable manner prescribed by law, not to increase the internal revenue by more than a de minimis amount.

`SECTION 2. The Congress may waive the requirements of this article when a declaration of war is in effect. The Congress may also waive this article when the United States is engaged in military conflict which causes an imminent and serious threat to national security and is so declared by a joint resolution, adopted by a majority of the whole number of each House, which becomes law. Any increase in the internal revenue enacted under such a waiver shall be effective for not longer than two years.

`SECTION 3. Congress shall enforce and implement this article by appropriate legislation.'.

http://thomas.loc.gov/cgi-bin/query/z?c105:H.J.RES.111:

- c

The important point is that JAPAN is in much better shape that anyone might think.

Sure their banking system is collapsing but they don't care.Banking losses and share losses won't affect their industrial might in the long run and the long run is all that matters to them.There is a social consensus in JAPAN around industrial conglomerats, allowing them to charge steep prices on the domestic market to enable them to gain market shares abroad.US hedge funds and other speculators are so long $vs yen that you will be told that JAPAN is near collapse. The japanese are happy about that story as they don't have to reduce their trade surplus agressively anymore.THEY STILL ARE THE BIGGEST CREDITOR NATION OF THE G7.

When the US stock market collapses it will be another story as the US is built on a pile of foreign debt and the biggest current account deficit in the world. ( 200 bln $ a year now ) .

Donald, any insight on why the US dollar is apparently dropping?

Operating Costs -- Company on Track to Meet Targets

All Amounts in United States Dollars

Toronto, April 21, 1998 . . . Barrick Gold Corporation reported a 33% increase in earnings and

cash flow for the first quarter, primarily due to a significant reduction in cash operating costs. The

Company is continuing to benefit from its operating plan, which focuses on low-cost production

growth from its quality mines.

Net income for the first quarter increased to US$75 million, US20 cents per share, from US$55

million, US15 cents per share, in the year earlier period, on revenues of US$305 million compared

to US$306 million. Operating cash flow for the quarter also increased to US$135 million, US36

cents per share, compared with US$101 million, US27 cents per share, for the first quarter 1997.

Cash operating costs declined by 21% to US$154 per ounce, compared with US$196, primarily due

to better than anticipated grades in the quarter.

Production and cash operating costs were excellent in the first quarter at all our mines, said John

K. Carrington, Chief Operating Officer. This is an outstanding start to the year. First quarter cash

flow was in fact the second highest in Barrick's history, despite the current gold price environment.

Gold production rose to 769,282 ounces in the first quarter, compared with 712,368 in the year

earlier period. Production increased 23% at the Goldstrike Property to 564,023 ounces, with Meikle

contributing 280,704 ounces at a cash operating cost of US$72 per ounce.

Meikle's exceptional performance combined with an expected strong second half of the year from

Betze-Post should lead to the Goldstrike Property achieving new records in terms of production

and cash costs, added Mr. Carrington.

In the first quarter, Barrick's hedge program generated US$79 million in additional revenue

reflecting a premium of US$105 per ounce for its gold sales, as the Company realized an average

price of US$400 an ounce, compared with an average spot price of US$295. With 10.1 million

ounces hedged at an average price of US$400 per ounce through the year 2000, Barrick is well

positioned in this market to maximize revenue and minimize gold price risk.

Barrick's next low-cost mine, the Pierina Mine, is expected to produce 750,000 ounces of gold

annually at a cash operating cost of US$50 per ounce. The project is within budget and on

schedule to begin leach production by the end of this year.

The operating plan calls for reducing cash costs to US$170 per ounce in 1998 ( 1997 -- US$182 )

with a further decline to US$150 per ounce in 1999, when production is projected to rise to 3.5

million ounces.

The Company's balance sheet is unrivaled in the gold industry with cash of US$439 million,

shareholders' equity of over US$3.4 billion and a debt-to-total capitalization of 0.13 to 1, at March

31, 1998. Barrick is the only gold mining company with an A credit rating.

Barrick's shares are traded under the ticker symbol ABX on the Toronto, Montreal, New York,

London and Swiss Stock Exchanges and the Paris Bourse.

The statements set forth above relating to the operating plan and its planned effects on Barricks

future financial results are forward looking statements as defined in the United States Private

Securities Litigation Reform Act of 1995. The plan is based on facts and assumptions currently

known to Barrick and is subject to future risks and uncertainties that could cause actual results to

differ materially from estimated results. Such risks and uncertainties are described in periodic

filings made by Barrick with the Ontario Securities Commission and the U.S. Securities and

Exchange Commission.

Barrick Gold Corporation

Royal Bank Plaza

South Tower, Suite 2700

Toronto, Ontario

http://cbs.marketwatch.com/data/dbcfiles/gldnslvrt.htx?source=htx/http2_mw

South African ADRs:

http://cbs.marketwatch.com/data/dbcfiles/SOAFRAt.htx?source=htx/http2_mw

Now, from ANOTHER, Sat. Nov. 1, 1997, 21:35 -- The US$ could be effectively lowered against most of the leading currencies by slowly taking it off the oil standard! This could be done by introducing a new concept to the world: create a mechanism whereby a form of CB paper gold could be traded for oil as a side premium. So, instead of them [them = oil, we presume] taking physical gold off the market at it's now MAINTAINED commodity price, let them take gray paper CB gold priced at it's true value in US$ for oil.

What is the euro? A mechanism whereby a form of CB paper gold could be traded for oil as a side premium? ( Keep in mind, however, oil will take not paper, but physical. ) That makes the question of the euro's percentage of gold backing a HUGE question. Because it will set, or be set ( at least for the interim ) , in accordance to the price of oil -- an all-in-one package, not the cumbersome and constantly fluxuating $US + XXX gold/barrel, but a set percentage of currency + gold to oil. Then we'll look for fluxuation in the new reserve, the euro, as gauged by or against oil . . .

We likes the reward for our silence.

Hachacha!

We should be on the lookout for another event that occured according to Sutton. Back in the late 60's or early 70's, either France of Italy needed a loan with gold as collateral, but they priced their gold at more than 2x the 'offical' rate. Apparently news of the deal leaked out, with the inevitable consequences to the price of gold, and to the US dollar.

Incidentally, I do not agree with ANOTHER that gold might go into the Stratosphere overnight. I think the gold price behavior in response to the antics of the 'fiat' currency crowd in the 60's and 70's is more likely. They even used futures at that time to 'control' the gold price.

Anyone have access to daily gold prices before 1975?

The Deal:

We ( an oil state ) now value gold in trade far higher than currencies. We are willing to use gold as a partial payment for the future use of “all oil” and value it at $1,000 US. ( only a small amount of oil is in this deal ) And take a very small amount of gold out of circulation each month using it’s present commodity price.

If the world price can be maintained in the $300s it would be a small price for the west to pay for cheap oil and monetary stability.

The battle is now between CBs trying to keep gold in the $300s and the “others” buying it up.

In effect the governments are selling gold in any form to “KEEP IT” being used as ‘REAL MONEY” in oil deals! Some people know this, that is why they aren’t trading it,, they are buying it. Not all oil producers can take advantage of this deal as it is done “where noone can see”. And, they know not what has happened for gold does not change in price! But I tell you, gold has been moved and it’s price has changed in terms of oil! For the monthly amount to be taken off the market has changed from $10 in gold ( valued at $1,000 ) /per barrel to the current $30 in gold /per barrel still valued at $1,000! Much of this gold was in the form of deals in London to launder it’s movement.

Because of some Asians, these deals are no longer being rolled over as paper!

What is happening now is far, far larger than the interest of a few traders or mining companies. They will be stepped on!

All: Anyone have an intraday site for the US dollar? I saw nothing unusual following the Swiss Frank or the Deutsche Mark.

Oldman thinks equities will peak in a few days, correct and bottom in May, and then continue into the Stratosphere. I think now an equities rally means a gold rally, and equity turmoil means a gold rally.

If the equities market is about to twitch significantly, then gold/gold stocks may also. Looks like a major equities and precious metals rally coming up very soon -- possibly in May after a short term blowoff if Oldman is right.

Tuesday, April 21, 1998 10:12AM

WASHINGTON ( April 20 ) XINHUA - U.S. Senator Daniel Patrick Moynihan warned Monday that expansion of the North Atlantic Treaty Organization ( NATO ) could pose the greatest risk of nuclear war.

Speaking at the Associated Press's 150th anniversary, Moynihan, a New York Democrat, said the alliance's expansion seriously threatened the U.S.-Russia relations and Russia could perceive the move as a threat warranting use of its nuclear arsenal.

This would come about not from Russian strength, but Russian weakness, Moynihan said.

If we go ahead, we have to recognize that without having intended it, we may have raised the prospect of nuclear war to the most intense point it has ever reached since the beginning of the nuclear age, he said.

Last July, NATO leaders decided to accept Poland, Hungary and the Czech Republic as its new members and signed accession protocols with the three in December last year.

The protocols need to be approved by the Senate. A vote of two-thirds is necessary for the approval.

A group led by Moynihan and Senator John Warner, a republican from Virginia, proposes that the measure be accompanied by a three-year freeze on additional membership beyond the three.

Last month, Senate Majority leader Trent Lott decided to postpone the vote just weeks after the Senate Foreign Relations Committee voted overwhelmingly to approve it.

Salty....gold to 272? wow. Is this from the wave dude or is it your own work? mail me in..... ( ya know....email me regarding ) . btw, the bubblies are slowing and things are on looking good. Gearing up for next stage... uh huh. go golden. mmmmmm...

Auric...what will it be? By July? wow. That Tasmanian Devil sounds quite serious. Got the eggz ( ? ) ?

what will gold do?

Buy more mounties.......uh huh. BMM...UH.

away ( ting ) the final wager.

Éßwillholdthemoney ;- )

salty...can i get some of that action?

FWIW: Iridium, another of the platinum group metals, is trading at $575.00 an ounce, up from $60.00 about two years ago. It is being used by the Japanese auto makers as a replacement for palladium catalytic converters. Rhodium , when it was worth $5000.00 was replaced by $80.00 Pd eight years ago for the same reason. Ruthenium is $40.00 an ounce today, was $40.00 an ounce last year. I don’t know if any studies have been conducted to see if this PGM could replace any of the others, but it would be pretty neat to know if it could .

away...to home for a soak

EBmadatsheepshaggers.... ;- )

oh nick....I'm just takin the piss.......no harm no foul..EH ( ? )

buy your mounties.....support kitco. BYM...SK!

CB - eblm@utech.net OK? put it on floppy ;- )