S. Korea whipsawing in ever smaller moves, broke out to the upside about an hour ago.

China had a brief dip below yesterday's close and has been up since.

Japan's action, down, up, now near yesterday's close, looks the weakest of the three.

A mixed market in Asia. Time to refocus. We've a long week ahead.

These quotes are pretty good.

Then there's this thought, most people don't look at their gross pay, only their net pay. Most people don't pay for auto repairs with cash, but with a credit card. Buy now, pay later. Why not apply the same reasoning to the currency marts?

Someday, the little old lady from Peoria is gonna want HER fifty dollar bill, and that will start the crash. :- ) )

Try again deleting en in word golden ALSO, subsitute an s

for the z in word q-u-o-t-e-z before posting. Tuh Tuh

http://www.golden-eagle.com/quotex/goldcorner.html

I see ROR is in rare form this weekend...

Millenium madness anyone? Global warming, asteroids, planetary alignment, biological warfare, third worlders with nukes, Y2K and nukes, just the plain old end of the world... Did I leave any thing out? Now, tell me why gold isn't reacting as well as it should?

Oh, I did forget something. Robert Rubins position on the dollar. What is the current position at 21:52 EDT?

http://quote.yahoo.com/m5?t=JPY&s=USD&a=1

&file=/cpfs/world/980619/w061921.html

( Cut and paste )

Top Russian General for International Cooperation says there could be a new cold war brewing if NATO acts without UN approval, ) which it will never get as Russia can veto. ) Rubin says it's not serious. Strange words in a diplomatic war. The Russian Military envoy to NATO, who was recalled to Moscow last week, will be staying there for consultation indefinately.

What is Robby Rubin doing dealing with NATO anyway? He's Treasury, isn't he? After he caused a major international incident with Mexico so recently? If anyone can help me to understand, I'll appreciate it.

The fighting in Kosovo is now raging in a virtual state of war. The escape route for tens of thousands of ethnic Albanians has been cut off at the border.

For the past few weeks, the Euro bourses have been moving more on the news out of Russia or Kosovo than Asia, in their daily swings. You can practically gauge their performance from the morning BBC report. And they're getting nervous.

Is it just me, or is something important going on here?

http://www.Bloomberg.com/bbn/index.html

and military exchanges. There are far reaching implications

suggesting our boys aren't going to have to do the dirty work

here at home. They'll be counting on the boys from other countries.

Dates precipitating further awareness and possible panic:

1. 7/1/98; The first day of their biennial FY 2000 for 4 of the 50 states. UhOh! Also, the first day of FY 1999 for the other 46 states.

( See number 6 for explanation. These states may start to see the ramifications of the 99 coding problem ) .

2. 10/1/98; This is the first day of FY 1999 for the Federal government.

3. 1/1/99; This date may present quite a few problems with data and software that work on yearly schedules.

4. 7/1/99; This is the first day of FY 2000 for 46 of the 50 states.

5. 8/22/99; The Global Positioning System ( GPS ) uses a 32 bit memory system for it's weeks calculations. This means that every 1042 weeks the system resets to Zero. It's no big deal, they knew about it when they set it up, it's supposed to work this way. However, GPS receivers on the ground will be compromised unless replaced in time.

6. 9/9/99; The date in itself means nothing Y2K wise, but is a code often written to denote infinity, or to implement a test for shut down, or delete all files, and, quite frankly, a host of other commands that will cause all sorts of disruptions.

7. 10/1/99; The Federal Government beginning of FY 2000.

http://www.techmgmt.com/restore/fema4.htm

Then I would like you to post your opinions, impressions. I want to

believe the outcome to be similiar to your points of view, however

after reading this URL, I can no longer have that kind of faith.

All: I agree that maintaining relations with China is worthwhile, but it seems that China is getting the lion's share of the deal. By the way, yesterday our local paper had an article about ChinaMissleSatGate. It seems that the Chinese have free access to our GPS systems for their military -- all the necessary codes,etc. Unfortunately it seems that the public and private military GPS systems may both be compromised. It appears that our military now has to develop another secure communications system because of this. That was stated in the article. I am well aware of this kind of situation from the cold war. Due to espionage leaks to Russia, research type scientists at our national defense labs were always hard at work coming up with new secret technology to stay ahead. It seems that the current Democratic administration is making it even harder for the defense scientists to keep up -- and it appears that a major defense type communication system has been compromised.

I do not know if we have another secure GPS type system for the military -- I certainly hope so. I do know that maps of gravitational anomalies are still secret, but with missles using GPS this may no longer be necessary. Also -- during a confrontation, one of the first things to go out will be public communications, and GPS systems. Jamming, etc. Lets hope that we did not give away the baby with the bathwater when we gave China all that encryptation technology which is so useful in using our satellites. I think we did -- if I understand that article correctly. This kind of information is secret, so we may never know for sure.

One thing I am confident of is that our military scientist types are working overtime to plug all the holes in our defense/communications systems that the Dept of Commerce gave away to the Chinese.

I am the son of Poetry,

Poetry, son of Reflection,

Reflection, son of Meditation,

Meditation, son of Lore,

Lore, son of Research,

Research, son of Great Knowledge,

Great Knowledge, son of Intelligence,

Intelligence, son of Comprehension,

Comprehension, son of Wisdom,

Wisdom, son of the three gods of Dana

from The Colloquy of the Two Sages, a very old Celtic writing.

http://www.washingtonpost.com/wp-srv/WPlate/1998-06/21/224l-062198-idx.html

Once we read history we see that we are not much different from our ancestors, eh? So its reassuring from the viewpoint that POG has always gone up after it was suppressed. IMHO

Marx' letter mentioning a couple of parallels between his philosophy and 18th century Jacobinism. Introduction to the idea straight from the horse's mouth. I'm not making this stuff up! IMHO

http://english-www.hss.cmu.edu/Marx/1848-free.poland.txt

David Andress has some pretty good basic links for the French revolution. IMHO http://www.hs.port.ac.uk/Users/david.andress/frlinks.htm

Two fairly concise listings of the history of the French revolution. IMHO

http://www.unionvillehs.com/history/ModWest/frenrevo.html

http://www.fordham.edu/halsall/mod/lect/mod12.html

To the Editor:

As the Asian financial situation worsens ( front page, June 17 ) , suggestions like those in Thomas L. Friedman's June 13 column defending the International Monetary Fund exaggerate the good the fund can do at its best and minimize the damage it does at its worst. The Asian crisis that began as a snowflake in Thailand a year ago snowballed into a threat to the world economy because of I.M.F. policy blunders of the kind that have characterized its economic approach for the last 25 years.

The amount of capital available to the monetary fund is tiny compared with the size of the problems in Asia it has created by browbeating the region's governments into raising taxes and devaluing currencies.

When a currency is attacked by speculators, it is because they are betting on a devaluation. The worst response of a government is to raise taxes, which reduces the demand for the currency and thus makes it harder to defend.

The I.M.F. applies the same formula, never learning from its experience, because its analytical framework is etched in stone.

JUDE WANNISKI

Morristown, N.J., June 17, 1998

The writer is an economist.

laughter - truely the best medicine; thanks again.

Perhaps you may be nominated by the kitcoites of the free-world

for 2 of their Oscars: the first for Best Hmorous Story-teller

and, the second for Best Bibilical story adapted to modern times.

Altho I am not particularly sympathetic to the owl-savers, ( unless they are solid gold ones ) , I also am not sympathetic to ideas that encourages the polarization of

free-market-entrpreneurs vs environmentalists.

The almost complete destruction of native forests, all over

this living planet Earth -- has been nowhere been perpetrated,

with any more grabbing, groveling greed and callous disregard --

than in the Southeastern & Northwestern United States.

Replacing native & old growth forests, with tree farms, by

way of clear-cutting, etc. ...... is nothing short of raping the lungs of the earth. Without the trees, the earth will loose its ability to breathe. And tree-farm trees simply do not breathe ( -exchange

CO/2 for O/2 ) as efficiently, or as abundantly,

as native forests do.

If we continue to destroy the forests & natural habits, we will continue to deplete the earth's oxygen,

and ruin her water-sheds.

An important issue, and question, for we free-market,

self-reliant students of gold, history, and liberty;

might be to ask ourselves the following.

Can we really hold on to the pretense of justifying

the belief that -- for the sake of corporate profits,

& shareholder dividends -- we are entitled to exploit

this natural resource ( without any restraint ) ;

and that if we eliminate the old growth & native forests,

replacing them with tree-farms, so be it -- it is justified.

If we hold on to this kind of thinking, and

the over-simplification of the free-market-individualist vs

the environmentalist ..... we will continue to witness, and be party to, the rape of the earth. The implications are

far-reaching, for all of life, whether we may be consciously aware of it or not -- Chief Seattle was right: the earth does not belong to us; we belong to the earth.

If we continue to strangle and shatter the web of life,

it will ultimately impact the life of every human-being on

the planet, including we esteemed kitcoites and our portfolios.

The wholesale destruction of the native forests, is the

destruction of the lungs of the earth.

So, altho I sincerely appreciate the delightful, refreshing

humor of the 'Sunday service at kitco'; we are only kidding

ourselves -- and mocking the value of freedom and human-life --

if we hold on to the simplistic generalizing that

that separates those concerned about the environment,

( -including the native forests ) from those who invest in gold, and subscribe to free-markets, and economic self-reliance.

cash payments or barter. They run the risk of being booted

from the group and having no patients referred to them.

These are administrative machinations aimed at some sort

of total control of large groups of patients. Some of

the doctors are resisting this however they can. Simply

talking about it seems pretty effective in demonizing

the insurance company efforts at overall manipulation.

And the Lord spoke to Noah and said, In six months I'm going to make

it rain until the whole earth is covered with water and all the evil

people are destroyed. But I want to save a few good people, and two of every

kind of living thing on the planet. I am commanding you to build an Ark.

And in a flash of lightning, He delivered the specifications for an Ark.

Okay, said Noah, trembling with fear and fumbling with the blueprints.

Six months, and it starts to rain, thundered the Deity. You'd

better have the Ark completed, or learn to swim for a very long time.

Six months passed, the skies clouded up and rain began to fall.

The Lord saw that Noah was sitting in his front yard, weeping.......And

there was no Ark.

Noah, shouted the Lord, Where is the Ark?

Lord, please forgive me! begged Noah. I did my best. But

there were big problems. First, I had to get a building permit for

the Ark construction project, and your plans didn't meet code. So I had

to hire an engineer to re-draw the plans. Then I got into a big

fight over whether or not the Ark needed a fire sprinkler system. Then my

neighbor objected, claiming I was violating zoning by building

the Ark in my front yard, so I had to get a variance from the city planning

commission.Then I had problems getting enough wood for the Ark, because

there was a ban on cutting trees to save the Spotted Owl. I had to

convince the U.S. Fish and Wildlife that I need the wood to save the Owls. But

they wouldn't let me catch any owls. So, no owls.

The carpenters formed a union and went out on strike. I had to

negotiate a settlement with the National Labor Relations Board before anyone would pick up a saw or hammer. Now we have sixteen

carpenters going on the boat, and still no owls.

Then I started gathering up animals, and got sued by an animal

rights group. They objected to me taking only two of each kind. Just

when I got the suit dismissed, EPA notified me that I couldn't complete

the Ark without filing an environmental impact statement on your

proposed flood. They didn't take kindly to the idea that they had no

jurisdiction over the conduct of a Supreme Being.

Then the Army Corps of Engineers wanted a map of the proposed

new flood plain. I sent them a globe. Right now, I'm still

trying to resolve a

complaint from the Equal Employment Opportunity Commission over

how many Croatians I'm supposed to hire. The IRS has seized all

my assets, claiming I'm trying to avoid paying taxes by leaving the country.

And I just got a notice from the state about owing them some kind

of use tax.

I really don't think I can finish the Ark for at least another five

years, Noah wailed.

The sky began to clear. The sun began to shine. A rainbow

arched across the sky.

Noah looked up and smiled. You mean you're not going to destroy

the earth? he asked hopefully.

No, said the Lord sadly. The Government already has.............

There was so much liquidity during two years of the depression that banks paid a negative interest rate of 1% to hold their money in treasuries.

JP: If you would be kind enough to provide some resources for the above?

thnx - bbml

So -- when will Gold mining companies be profitable? The answer is simple -- either the local price of gold must go up, or the cost of mining it goes down. Inflation causes the price of gold to rise, making gold mining firms more profitable. Deflation is associated with a reduced cost of labor, because it is commonly associated with massive unemployment. Infact, the costs of buying equipment and services in general go down during deflation. Therefore one overriding feature we must remember about gold and deflation is that gold mining also becomes much more profitable, but only after a major deflationary episode, not before.

As Donald has said so eloquently in the past -- after deflation, the dollar price of all goods may drop, but Gold will become relatively more valuable. This does not even factor in the pending desire for gold as an asset that is noone elses liability.