I'm willing to bet ABX got a special deal as a major gold producer -- backed by the Federal Reserve or some other government agency.

Also, I think those $400 gold loans were set up when gold was much higher that it is now.

Just an educated guess, IMHO.

can RJ get thrown out saying that the Disney movie is kick-ass ;- )

Bart....don't be harsh.........we cannot restrict expression......reduce yes........but how is the line drawn

RJ....what's this nonsense about chocolate milk You can't be serious about that............and if I was sitting around with Einstein having a few bitters or some good Cabernet Etrusco....Martin Brothers.....Paso Robles.......'93....... ( best wine around ) ........We would ponder traveling at the speed of light.......and faster...... ( there is faster, we are not there yet ) ........uh huh.

I'm kinda with Mozel.......leave it to him, eh?

away....to let this sink in.......hmmmmmmm...

I sure would like to know what the ABX chairman of the board knows about CB plans for the price of gold -- the ultimate insider deal. Strangely enough, this is not a SEC issue. Watch out for a gold bull when ABX unwinds their dollar/gold carries!

Gold loans to major producers like Barrick are probably a better bet than other concerns, because if the price of gold goes up, the producers can give their own gold back to the CB lessor. If the producer goes under, I would guess that the CB involved gets a piece of the gold mine.

Gold loans to non gold producers such as bullion banks, etc. may be not such a good risk. I would guess that much of the 8000 tonnes loaned out was not to gold producers, based on the sheer volume.

Also, some CB's probably have a poor credit rating ( Venezuela?, Brazil? ) and probably have to actually transfer gold to buy treasuries. Others may be able to do so without actual transfer of gold, just on their credit rating -- such as Germany.

Anyone know how much of the 8000 tonnes of gold loans was physically transferred to gold producers? That number may be accessible somewhere. Then, by inference one can guess how much gold was lent in another manner. This information, though imperfect, is better than nothing.

I would say that 99% of all contributors to Kitco are not in any way responsible. But as is always the case it's a tiny fraction of the general population that can ruin a good thing for everyone else.

As of now a new effort is being launched to create an environment conducive to drawing in more contributors with the potential to enlighten through discussion about markets factors affecting gold and any of the other PMs. That is after all the objective of this tiny piece of the web - to share opinions and knowledge with respect to the ( precious ) metal markets for the benefit of both contributors and lurkers alike.

How are we going to do this? It's simple. Everything is already in place for it to happen. Our netiquette rules are sent to everyone who requests a password. For those who miss them the link at the top of this page can serve as a handy reference. Strict enforcement of the be considerate rules should drastically change the ambiance that often prevails.

At the risk of turning this site into a drug-free cure for insomnia, that is the course of action that will be taken. Anyone who slightly infringes upon any of the first four netiquette rules will discover the familiar Error 404 when they try to post. True, there will be well informed and talented writers who may be missed, but I'm betting that there will be even more showing up to replace them. Maybe not right away, but eventually.

If you're thinking right now that this probably means that you'll be history, then you're probably right. This would be a good time to download ICQ and start giving out your number.

Like I said this applies to only a tiny fraction of everyone who have collectively made the Kitco discussion group one of the liveliest and most informative on the net. I'm hoping to turn the quality up one more notch.

From the same story EB posted his excerpt from

No further Russian spot market metal has been seen since the consignments made in late May/early June, and little progress has been made on talks between Russian export agency, Almaz, and Japanese trade houses on the annual supply contract that expired last December.

The key word here is consignments.

Some may recall my assertion last February that, at the end of 1997, Tiger was financing and facilitating Russian palladium sponge shipments out of their own holdings. Another key to the puzzle was the statement made last week that Russia may use palladium to secure credits rather than sell it into the open market. Curiouser and curiouser.

The Russians ain’t got no more stockpile.

Poof!

Gone

Indeedy

I saw Armageddon today and it is everything that Impact wasn't.

In much the same way Braveheart was everything Rob Roy wasn't.

If this is too confusing

I liked it

Yes

PS

Mulan is a MUST see. It breaks the Disney formula that has plagued their last five or six outings. Nary a dull moment, good ( not cutsie ) songs, and some kick-ass action.

Uh Huh

Will employees/consumers be paid less or more on average in the future? Will consumers ( i.e. YOU! ) be willing to pay higher prices for finnished goods in the short term? If so, WHICH consumers - the wealthy or the poor? What about the long term? How about natural resources? Are we entering a period of increased or decreased stability? Will there ever be war again? Is the demand for gold currently being created by suppliers or consumers? Who are the suppliers and who are the consumers? Are the supplies of Gold plentiful - if not, at what price will they be?

Until you can answer these questions with some level of competency ( naively proclaiming, I remain extremely bullish does not cut it! ) you can only rely on faith. As I cannot answer these questions, I put faith in Gold protect my wealth. Obviously, I would like the accepted currency of my society to be protected by Gold. But since it is only protected by empty space and empty promises, I'll take the physical please, thank you. I don't care if the dollar value of Gold goes down. At least I can see Gold, which is more than I can say for those promises. Even if those promises are kept, I will never consider myself a fool for not believing them - although I will gladly admit that I was wrong.

No Man is an island. Every Man must rely on His society. Some rely on society to the extreme. I try to give more than I take, although I am not presently willing to give my life for that society in its degraded condition. In attempt to take responsibility for myself I prepare for increasingly devastating societal conditions. I also make preparations for others for whom I care for but who do not see the possible futures that I do. Thus, I hoard cat food and blue jeans.

Gold is a tiny but essential ingredient to a much greater senario. It is only good for those things I may need in the future which I have overlooked in the present. There may be a day I will need it for food, clothing, Freedom, or to bribe some United Nations judge to dismiss my crime against humanity for personally owning Gold. If I never have to use it, fine. I much prefer stacking it in pretty little piles next to those cool little 10 oz Ag bars and assorted domestic and foreign denominations of cash and coin. I take pride in knowing that I can make it through an economic crisis unscathed even if I lost my job. Knowing, that is, while realizing that the decisions I make during the crisis would be just as important as those I have made in preparation for it. That is why I still listen to the thoughtful posters of this forum.

Am I prepared for chemical or nuclear war, aliens, astroids, or deadly cosmic rays? No. Perhaps I will be someday. I cannot justify the allotment of the resources required for such possibilities. More importantly, I cannot justify the emotional energy to worry about that right now. Perhaps someday I will be sorry that I was more concerned about trying to get my damn rose clippings to root than preparing a bomb shelter for the eminent Nicaraguan nuclear threat - but then again who would have known? Besides, we probably deserve it!

So, Promey, these are my thoughts which I have given voice. Others have used different words. To sum up, Gold is a good investment ( or hedge, metal, tool, or whatever!! ) if one knows the reasons why they have traded their labors for it. I have sung the Golden Mantra. The truly wealthy, in my opinion, are those who are able to be providers/care-takers in any circumstance. My cat, I think, relies on my wealth in terms of cat food and kitty nuzzles, not Gold. For those who are only concerned with the dollar value of Gold, I can offer no advice. I can only wish you the best of luck! We shall watch this new Gold market together, yes?

Yes

- c

For every year held, the price received by the borrowere is, increased 4%. Some years the spot price may be above the hedghed, in this case the hedeging mine would sell at market and not use production to return the loan.

Barrick has the right to defer repayment of borrowed gold up to 10 years.

I believe the 'Merka cup belongs in 'Merka

Yes, I do

A recycled post from a year ago this week.

Wasted bandwidth for sure

But inspired silliness nonetheless

Hunting through these archives is fun

( The Dow 10K thingie was a pretty bold call at 6800, yes? )

I believe the Dow will hit 10,000

I believe in Father Christmas. Father time, and Mother Nature.

I believe we are experiencing the most prosperous times of our era and that things will get even better.

I believe that The Simpsons is the most socially relevant show on television today.

I believe the FBI reads the Kitco Gold Group daily. Howdy Agent ___________ ( fill in the blank )

I believe in soft pornography and long, slow, wet kisses that last for three days. ( borrowed from Bull Durram )

I believe we do get the democracy we deserve.

I believe that Capitalism, in order to succeed, needs but one thing: Markets.

I belief that the semicolon is far too confusing and that either its use should be allowed indiscriminately or it ought to be outlawed.

I believe that anyone who proposes a new law should be exiled.

I believe that anyone who proposes a new tax should be forced into servitude to those exiled for proposing new laws.

I believe a conspiracy should only be considered if it is possible.

I believe OJ is guilty.

I believe Johnny Cocharan will be as closely tied to OJ through eternity as he is in life.

I believe the only way to win at scrabble is to sandbag and wait for the double and triple word score opportunities. This has not worked yet, but I believe it will.

I believe Bill Clinton is sincere. I also believe he is a pathological liar.

I believe that Hillary will be indicted.

I believe Vince Foster killed himself.

I believe that Hunter S. Thompson is the most brilliant writer of this generation.

I believe that all human condition can be found in the works of William Shakespeare.

I believe that only Nixon could have gone to China. I also believe he was a crook.

I believe that optimism will create optimistic outcomes.

I believe we are what we think.

I believe Pierre Sallenger has gone off the deep end.

I believe Ralph Nader is a truly moral man.

I Believe that the Smoking Man shot JFK and Martin Luther King. ( see: The X-files )

I believe that there are those in the Kitco Gold Group who are true paranoids.

I believe that there are those in the Kitco Gold Group who are true visionaries.

I believe the paranoids think I am talking about them.

I believe they are right.

I believe that any minute savings are not worth switching your long distance from AT&T.

I believe in sunscreen although I never use it.

I believe that Mozart was the greatest composer of all time.

I believe that Mohammed Ali was the greatest of all time.

I believe that Mike Tyson is a petty rapist and a punk.

I believe if I ever told Mike Tyson this, he would punch me, and that punch would cause brain damage.

I believe in the benefits of roughage and bran.

I believe in a woody Cabernet Sauvignon.

I believe there is no difference between aging in French oak or American oak.

I believe that one does an apprenticeship in white wines and then graduates to reds.

I believe that the superior palette prefers reds.

I believe that Champagne is frivolous and best suited to women or men who believe their own press.

I believe that on New Year’s Eve, at 11:55 PM, there is no substitute for Champaign.

I believe I would rather live in California, with the occasional earthquake, than in any other place in the country with humidity, rain, snow, freezing temperatures, tornadoes, mosquitoes, burritos, or hurricanes.

I believe that the best burritos can be found in California.

I believe that the belief before last now makes no sense as it mentions burritos.

I believe that belief makes it so.

I believe that one should not feel guilty about enjoying an action movie, even if there seems to be an inverse relationship between the number of explosions and ones IQ.

I believe that Troglodytes briefly shared the earth with Homo-sapiens about 30,000 years ago.

I believe that dolphins and whales are intelligent, sentient creatures.

I believe that mice are manifestations in this universe of pan-dimensional hyper-intelligent beings ( this borrowed from The Hitchhiker’s Guide to the Galaxy )

I believe that nothing can travel faster than the speed of light.

I believe that we are not alone in the universe.

I believe that when we finally discover that we are not alone in the universe that the nationalistic borders, to which we attach so much import, will become less important as we all begin to view ourselves as a pale blue dot.

I believe Einstein was right.

I believe Einstein was only the beginning.

I believe in quantum mechanics and the bizarre implications contained thereof.

I belief the Twinkie defense was an abomination.

I believe that the 1990s will be known as The litigious society in which no one would accept responsibility for their own actions.

I believe that the 1990s being known as The litigious society in which no one would accept responsibility for their own actions is not quite as catchy as The Roaring Twenties .

I believe in gold.

I believe that Gold is a horrible buy and hold investment.

I believe that gold is a necessary evil in ones portfolio.

I believe that there is no such thing as a proper portfolio.

I believe that margarine is worse than butter.

I believe that a Rolex is much too heavy.

I believe in Japanese cars.

I believe that a man should never wear more than one ring, and a woman never less than two.

I believe that the war of the sexes was a media invention and that it was never more than mutual hostility.

I believe all television news is garbage and that the only way to be well informed is to read.

I believe that Jean Luc Picard was a better captain than James Tiberius Kirk.

I believe in the Tholian Web.

I believe in causality loops.

I believe in chocolate.

I believe chocolate milk is a sacrilege to chocolate.

I believe in crocodile shoes.

I believe in diamonds

I believe that it doesn’t matter that others do not know whether you are wearing real crocodile or diamonds, it matters that you know.

I believe as if it appears I have far too much time on my hands.

I believe in free speech.

I do believe I have spoken for too long.

away...to pop open a FB in the good Name-O-Nick's

Éßitter........it's Stalian for beea ( full accent,they don't seem to pronounce the r's )

------------------------

The real wild card in all of this is what happens to all

those Eurodollars no longer needed as currency reserves, Price

Waterhouse analyst, David Gulley, said in a recent speech.

If a reduction in central bank dollar holdings led to a

reduction in the private demand for Eurodollars, this would

have a noticeable impact, he said.

If Americans really understood what might happen to the

greenback if it had to share its role as international currency

with the euro, don't you think they would be persuaded to buy a

few golden eagles as a hedge?, he asked.

--------------------------------------------

check it out...

http://www.infobeat.com/stories/cgi/story.cgi?id=2554885101-86e

--------------------------------------------

good stuff about no deliveries from the roooooskies......hmmmmmm...

Japanese fund house buying too........as ¥en improves.......uh huh.

Perhaps we will not see this low price again until AFTER it reaches 400somethin' ( ? )

away...to buy more

Éß

I'm sure he's read Tony Snow, anyway. Go ahead and speak up yourselves. You've got the cajones, too? No?

Paraphrasing from someone whose name I have forgotten:

'The seeds of future wars are sown during peacetime'.

Sounds like something Churchill might have said about Neville Chamberlain.

Don't get me wrong -- I am all infavor of trade with China. I enthusiastically support the wisdom and culture of the Chinese people.

But -- I do not wish to blindly support the Chinese communist government. We ( the US ) do have some leverage with China, one of our formost trading partners. But -- it would seem from our leaders actions that we have no leverage at all, and must do what the Chinese communist leaders desire. All for the desire of the fast buck, with no thought of the future lives of Americans, Chinese, or for that matter, the rest of the human world.

'Chinese leaders determinmed to make Clinton a fool'

http://www.detnews.com/EDITPAGE/9806/25/snow/snow.htm

exciting evening?

Well . . . .

let me see.

http://freedom.house.gov/news/releases/imfletter.asp

Highlight the link by depressing the left mouse button as drag it to the start of the link.

At this point the link should be highlighted.

Press control c

Press control v to paste it into your post.

If the link is longer than the window frame, divide it into two sentences by entering a carriage return after the slashes.

http://

www.kitcomm.com/comments/goldlive/index.html

http://investools.com/cgi-bin/Ideas/alch.pl/0119/A02/S2

http://investools.com/cgi-bin/Ideas/alch.pl/0119/A02/S3

http://www.dailyrepublican.com/

Anyone else notice that Japan's stock market is going up and PRC's is going down during this illustrious visit? hmmmm

http://www.nando.net/newsroom/nt/morechina.html

Under The US Intervenes, third line from bottom is US sends carrier group.

My guess is that only a few CB's will actually get caught with their pants down. If not, there may be real fireworks that even gold bugs will not like when the dollar/gold carry trade unravels.

My guess is that something like this already happened in the 60's and 70's. Anyone know if CB gold loan defaults occurred? Were they quietly converted into gold sales? Was the missing gold covered by CB gold purchases? The BIS? If the BIS is covering somewayward CB's, I'll bet they extract their pound of flesh.

Antony Sutton, where are you when we need you?

farfel

farfel [FAHR-fuhl] 1. An egg-noodle dough that is grated or minced and used in soups. 2. In Jewish cookery, farfel  refers to food ­ such as dried noodles ­ broken into small pieces.

Sometimes I go on these fishing expeditions and turn up some interesting stuff.....not that I believe all of it of course. Here's another good one on privacy on the net:

http://www.tamos.com/privacy/index.html

Sometimes I go on these fishing expeditions and turn up some interesting stuff.....not that I believe all of it of course. Here's another good one on privacy on the net:

http://www.tamos.com/privacy/index.html

Big Brother is monitoring your email:

http://caq.com/CAQ/CAQ59GlobalSnoop.html

Who's watching you and what are you telling them?

http://www.13x.com/cgi-bin/cdt/snoop.pl

Surf the web anonymously with the Anonymizer:

http://www.anonymizer.com/surf_free.shtml

Have a nice day.

Got Gold?

Although the looming Y2K problem is now only the conversational topic du Jour of well-informed esoteric groups, ALL THAT WILL SOON CHANGE.

Hollywood is already working on a new movie about Y2K. Undoubtedly, the tension will INCREASE as we draw closer to Y2K-Day ( New Year's Eve 1999 ) . We still have 18 months to prepare for THE EVENT, which allegedly will cause dramatic transmutations to public life as the media ( newspapers, magazines, radio and of course TV ) pick up the sober beat.

Here is the wonder story of the Century that the media always dream about. A story having meaning and significance for all people from America to Zimbabwe. A story which will take 18 long months to unfold… before the ultimate dramatic climax. It promises to be a Ravel Bolero type relentless crescendo… ever mounting until the fatal of HOUR OF MIDNIGHT.

To be sure it is feasible there will be a run on gold, canned foods, bottle water, potable radios and camping equipment… while many flee fiat money and abandon the Wall Street of the world.

Will it be the Dawn of the 21st Century, or the precursor to the Sun-set of the world economies that we have come to enjoy. The story will most likely achieve gargantuan scary proportions as dire reports from Boston will feed upon ominous news from Berne to Berlin to Baghdad to Beijing. The story will eventually magnetize greater riveting attention than a 1,000 O.J Simpson trials or 10,000 Super-bowls. Monica Lewinsky's favors will have been just a joke in bad-taste.

Unquestionably, the media will milk this story with exponential intensity as count-down continues. Steven Spielberg may even earn another Oscar…

But while we await the Hollywood's thrillers, we might get an excellent handle on the subject by reviewing ( again ) carefully the most definitive report on Y2K to date AN ICEBERG CALLED Y2K. It is a trilogy - the last part is located at the URL below --and Parts I & II are hot-wired at the bottom of the following URL.

Remember to delete the extra en letters in the word golden before posting the URL to your Internet locator:

http://www.golden-eagle.com/gold_digest_98/heuskin032198.html

away......to the course

Éßhotalready

The first hole is 550+ with a bend in it, the green is elevated 50 yards on the edge of a hill, there is nothing but air right of the green ( don't let that shot leak ) . The second is a short par 4 380, dogleg left, banked on a side of a hill ( no level lies ) . The green is the size of 1/18 at Saint Andrews: HUGE! How many 50 yard putts have you pacticed? The third is 450 par 4, the last 200 uphill, left is OB, right is down a hill. Its just about now that you start to feel the 115 degree heat. Papago will challenge you the whole day. I'm looking forward to Monday.

I know there are some Phoenix posters/lurkers here - anyone want to join us Monday morning? drop me a note thansen@cris.com

ps - I wouldn't recomend the beer, I'll bring a full cooler. Papago is BYO.

US loses to Iran and the Pasty Boys lose to Argentina........wow.

Does anyone feel the cold, raw IRONY here..... ;- ) ......it's just a game , eh?

_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-

seriously though......

-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_

http://www.digisys.net/futures/chart/ts_cha58.gif

it's just completing part-o-the-pattern........uh huh.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

away

Éßuying£soon..... ( notnow ) .........Éßutsoon......

kuston - Papago it is. It looks long, and my bubble shaft is in the shop.........oh well, James said we should have a cooler........the 'inlaws' said it was 118° yesterday........can you confirm? Whoa... ( ! ) ... ( sweat pouring down his back ) ............I guess we'll be lose, eh?

---------------

are there any savvy currency traders out there? I've but one ( or two ) questions to ask.......I want some real savvy dude/ettes...........You too George ( S ) ....... eblm@mci2000.com

-----------------------

c'mon.....a rumor about a rumor about a rumo ( u ) r about a knee-jerk ( s ) .....what a pile of CRAP....... ten lbs of it stuffed into a 5 lb bag..........don't step in it...especially if it's burnin' ;- ) }

--------------------------

http://www.infobeat.com/stories/cgi/story.cgi?id=2554880983-6b7

-----------------------

What I read was:

( fade in with phone ringing ) ......

RR is shown in his Jammies just puttin his ( happy filled thoughts ) head on the pillow........... ( he acts a little miffed cause Mrs. RR had a terrible headache ) ...

Hello, says RR.

( code phrase...like in that movie WallStreet ) ...Mr. Tiger will be eating tofu tonight......

( RR hangs up.....and with 'a wee bit-o-step' to him he launches for the 'puta to call the 'Grand Islands'.....

( RR voice on the other end of the phone....camera shows some Prez of one of those 'secret' banks reaction ) ...... ( which is all but a schmirck ) .....

Blue Toads dance in the plains........er.........planes.........., says the voice.

( fades out to Al on the treadmill................. ) ...........

--------------------------------

And everyone goes to sleep like babes in the woods..........yup. And that's how it's done. ( ho hum ) .......... ( to be a politician wielding such large sticks ) ...........nah..............I'd rather not stoop.

-------------------------------

and gold suffers............. ( duh ) ......................

Personally, I do not trust F Veneroso's information completely. I think the FV group is backpedaling on their prediction of a gold bull this year, based on the fact that 'they did not realize the bearish mindset of the CB's toward gold'. I think the FV newsletter is useful for determining fundamental trends, but I think it is of little value in determining the technical trends in gold that we all need.

What do we know? We know the CB's have a powerful method of suppressing the price of gold with various derivatives trades, and the dollar/gold carry. We also know that the US dollar is 'stronger' than expected, hence gold is 'weaker' than expected. The CB's know exactly what they are doing with regard to interest earned on their gold leases, and so does the BIS. Actually 1% earned is not that bad if they are earning more interest on borrowed US treasuries -- but of course that is only on gold that they did not loan to someone else -- like a Gold mining company. I don't know how much of the gold is loaned to others, and how much is being loaned directly by the CB's to buy securities. Too bad FV does not give us a breakdown of who got the 8000 tonnes of loaned gold.

I think that when gold does start to rise, it will be because the CB's want it to, taking a lesson from the 60's and 70's. It will rise fairly slowly, unless they lose control. Unlikely, unless the CB's run out of gold to loan. If gold starts to rise rapidly, we should head for the 'storm shelters', and US paper will burn -- also unlikely for now. Too many other currencies burning right now. The US dollar will only be in jeopardy when all other currencies have burned, with the possible exception of the Japanese Yen.

I think the only thing that would give us a gold bull right now with the bearish trends in SEAsia, and possibly South America -- would be a war or energy crisis. Otherwise, we play gold/gold stocks short to intermediate term only. Perpetual gold bull bugs are going to get squashed for some time to come.

Keep your powder dry.

This is a somewhat long-winded introduction to my comments on your question. The problems you don't expect are the ones that will cause the most problems. I think that for most PC users, they just assume that, It's just a date, therefore If I do a setback 28 years, all will be well. In some cases they will be right, and I expect this strategy to be used a lot. But the operating system, dates on files, storage of backups, restore procedures, and other background tasks should be monitored much more closely. Since in my own experience VERY FEW people actually back up, and ALMOST NONE do it in a methodical manner, I rather suspect some problems to occur. No one told you that if you corrupted your operating system, that you would have to spend the better part of a day to reconstruct/reload. You might have assumed that you were different that other people didn't have to go through that. Well, expect more of that sort of problem, with this strategy, unmonitored. Since, by definition, the people adopting this strategy are not in the habit of backing up, are not aware of what their operating system does and doesn't do, and don't have the time to do anything else, I daresay they won't have the time to try it out, and if they do, they won't even take basic precautions about saving the data. I don't predict a nice picnic, in other words.

As to a silver bullet, I wouldn't characterise it as that, at all. Merely a strategy for dealing with PC based non-interfaced computers, and not necessarily a great one at that. But, if you don't have the time, or the money, or the inclination, or anything else, it will be adopted. Advice: Make a backup. Test. Test. Test.

My .01

go plat :-$ ) ( ! ) !!!! I regret that I am only knee-deep in Oct Plat this time........will 'they' try to sell it into the ground this time or........will they just 'join up' and ENJOY the ride....buy the dips? ¡ohmy! cha-ching$

------------------------

I'm goin' to hell in a bucket, baby~~

at least I'm enjoyin' the ride~~~

GD

------------------------

away...to find a bucket..........with bucket seats and A/C and a ten disc CD changer.......and a built in cooler...................and 450 horsepower.............and five speeds........and a little doggy in the back window that 'bobs' his head............

Éß

--------------------------------

Date: Wed Jul 01 1998 03:07

aurator ( hubris and Nicknames ) ID#257148:

-

RJ

I am salty. As a result of ahhemm, coming on line and being less than circumspect. Someone suggested that my

language was too salty, I think I was upset at the gastroman cos this is what I found:

----------------------------------------------------

'Twas I that was calling you a salty one mate. I remember like it was yesterday...... ( about the same time I was short gold and long silver........missed the silver but I NAILED the gold ) ...............for some reason I cannot look it up. Perhaps you or Limey could look it up for me ( with your incredible databases;- ) You will find it if'n you look............uh huh. I take pride w/my nicknames ya' know................

away...to watch this metals thingy

Éß

Veteran Market Forecaster Gene Inger shares his successful short-term stock market strategies with us. His advises Daily point; nobody should let the S&P 500 break 1150 without being short.

However Guru Gene cautions:

Short-covering, while powerful on a very short-term basis, is by

definition not enduring. Rally action into a Quarter's end, is also

by definition not particularly enduring. Ditto new month's buys,

especially when it's following a ragged end-of-Quarter affair that

should make money managers just a bit nervous.

Interestingly. . .he observes we've expressed puzzlement for a couple days

about technical analysts all talking about resistance above the

market, and explosive upside as soon as we breakout. It was a

puzzlement because we thought that's what happened last week,

and that we played it on the upside ( a 3000 point S&P gain from

the general 1120 level to a sale right at 1150 ) .

But the market maven warns Certainly a good part of Tuesday's move had to do with

Dollar/Yen, and fears that Japan or even the U.S. are targeting

Friday, the American market Holiday, to roil the Greenback.

In Summary the inimitable Inger says it's a market suitable for TRADING.

Full report at the following URL - as usual it is necessary to delete the extra letters en in word golden of the URL before posting it to your Internet locator:

http://www.golden-eagle.com/gold_digest_98/inger070198.html

Nope - don't have any hard data on Harmony.......perhaps the POLARBEAR/Disney spreadsheet that was ( is ) on Vronsky's site has the production data and costs on Harmony that could be extrapolated to the new Rand value.

But ( if I recall correctly ) Harmony's costs were very low to begin with, something like $200/Oz, so the Rand devaluation wouldn't make the dramatic difference in earnings as it will with DROOY. All IMHO, of course.

bbl

What is really scary is how many folks won't believe til ol' Dan or Peter say it's true at dinner time. Bloody stinkin' frightful.

I've refined my rough numbers stated on an earlier post with reference to DROOY's earnings at the present Rand level. Comments are appreciated.

Basis ( from DRD website ) production is 4800 Kg/quarter or 617280 Troy Oz/yr

I am assuming 45 MM total shares ( I don't know the exact quantity )

Worst case:

The total cash cost of production ( previous quarter ) was $307/Oz, based on 4.95 Rand / US$; the current cash cost would be $258/Oz, based on 5.9 Rand / US$.

Total revenues @ $297/Oz = $ 183,332,160

Total costs @ $258/Oz = $ 159,258,240

Net earnings = $ 24,073,920 or $0.53/share

Best case:

If the production cash cost is reduced to $285/Oz ( basis 4.95 Rand/US$ ) ( this was the stated target for reducing cash costs in the quarterly report ) , then the current basis cash cost is only $239/Oz based on 5.9 Rand / US$.

Total revenues @ $297/Oz = $ 183,332,160

Total costs @ $239/Oz = $147,529,920

Net earnings = $ 35,802,240 or $0.78/share

Either of these numbers will go up a lot with the increased price of AU.

John -

What do you think DROOY's cash cost is now, with the Rand at present depressed values?

I'm guessing about $240-250/oz, which would make their annual earnings about $1/share. Not bad for a $2.25 stock, eh?

Ghandi marched to the sea to make salt

It makes beer froth up

Tastes good on corn

I think its getting a bad rap

Additionally, mayhap I inquire:

Would someone called Limey be welcomed into the pub to get salty? What if I was invited by a Salty? Or would they think me presumptuous, passing myself of as a Limey when they would surely not make the connection with the Corona accouterment but rather hear Limey and think British, and immediately become suspicious when the California drawl issues forth. My own heritage has a quarter British ( not the better quarter, but a well and fit quarter indeedy ) but the greatest number of nationalistic liters flowing through my veins were borne primarily in The Netherlands; but I don’t trust any country or city that is insecure enough to want a The in front of it. I mean just what the hell is The Hague? And why is the whole place under sea level? Dikes or no, I want at least some piece of continent ABOVE the high tide mark to stake my claim.

So, enough, its late, and I’m rambling

ZZZZZzzzzzzzzzzzzzzz……………… . . . . . . . . .

Besides what are the Dutch known for? Wooden shoes?

Hey……….. Woody…… Now THAT’S a pub name!

Yes

What a difference a year makes. The Asian economies are caught in a 1930s-style recessionary spiral,financial system hovers on the brink of insolvency, and there are growing signs that the global economy, including the United States, is about to enter recession.

http://www.wsws.org/news/1998/jun1998/econ-j30.shtml

Ar RAY tor

ar RAY tor

ar RAY AYAY tor

Cool. I would like to learn more of this search thingie, sounds like a must.

My own methods are a bit less sophisticated, but effective nonetheless.

Take your time but if the dates in question could be had first, that would at least complete the last year.

AuraotorMacMan

Yes

I have come to realize that you are wiser than you appear

This may not sound like a compliment, but it is

Even in the midst of mine own bombast, I admire well executed subtlety

But you do have the mildly annoying habit of being right pretty often

Work on that, yes?

Perhaps there is something to this whole no crients thingie

I will give it thought

OK

I am at: rjd@pacbell.net

I am

Dates

Not the chewy kind

And not the curvy kind

But the chronological kind

Yes

You offered dates and for your help, I would be happy to send you a copy of the CD ROM, only I don't know about Mac stuff. The files are Netscape .cgi files and can be opened by Netscape Communicator as well as Navigator.

The dates I need are 8/16, 8/17, 8/18, 9/30, 10/1, and maybe 10/2 all in 1997. Do you have full days prior to 6/1/97?

Cooperation across oceans

This is as it should be

OK

Believe me, the song is better heard sung by anyone else but me, but I do have an interesting timbre ( nails on a chalkboard ) and a kind of crude honesty ( tone deaf ) quality to my voice that is nearly at par with my guitar playing ( muddy and twangy ) , but I do enjoy it so.

Promey:

Every time I see a teen listening to Jimmy Hendrix or Pink Floyd or even early Talking Heads or U2, or the very rare occasion when you find a teen interested in classical or jazz, I realize that music is the only universal language. Reminds me of an outdoor John Lee Hooker concert I saw in Seattle in 1996. The audience was almost all younger than I ( 38 ) but they were rockin' to this 75 year old Blues Man from the backfields of Mississippi. Spans generations indeedy!

Grizz -

I happened on your K2 posts only a couple months ago. Yours is a welcome voice here. When the new k2 gets rolling, don’t forget this spot and drop in from time to time

Arden -

You and Glenn and GSC have been around from the start. I read the site for a year before I ever posted, but I remember the old group. It was kind of one sided in those days though….. Seems more balanced hereabouts these days.

You are a Kitco Elder ( nothing to do with age but rather seniority )

http://cnnfn.com/markets/wires/9806/30/nyse_wg/

Have you heard whether the working people, and/or the idle rich can purchase investment gold in Europe without the value added tax. VAT

This was supposed to be settled by now, and ready for vote.

This is of enormous importance to spot gold prices.

Maybe, Delphi knows, for he was an oracle in his better days.

Please try it out in Preview Comment before Posting

and see if it works there.

Anyway, BBML. Thanks in advance. Will read tomorrow.

My teenage son was coming by to take the phone and started reading over my shoulder. He instantly recognized the piece. Yes.

Pink Floyd spans the generations.

Namasté

Namasté