This whole Clinton affair has taken on the characteristics of the twilight zone. He lied under oath, but it was a sex lie. ( ? ) He tried to fix a court case, but it was a 'sex' thing. In the mean time, commodities are falling and the stock market narrows. The job market is 'tight', but no one is willing to pay decent wages. Curiouser and curiouser...

Snow squalls moving through the Boston area have turned the roads in to ice skating rinks. Not that Mass. drivers ever could keep their cars on the road on the best of days. :- ) )

Listening to a local talk show, a sixteen year old called up and gave his inputs on the Clinton matter. He and his classmates think that Clinton is a joke, the case is a joke, it's just partisan fighting, and most sadly, that oral sex is not sex. Yes sir! Score a big one for Clinton in the 'morals and leadership' department! I hope I never hear him talk about AIDES or 'the children' again...

As to the yellow metal... Looks like a test of the lows coming. CRB in the dumper. Oil can't get its act together in the face of Iraq and the sudden cold weather speaks volumes. Couple this with 'tax loss' selling and gold stocks don't look to good here. The problem is to know when the ball will bounce.

The birth defects may also have been generated from some weapon of mass destruction that Saddam had, as we know that an Iraqi supply dump of some kind was inadvertently detonated, although the US authorities are very reticent to talk about it. War is alway a very sad event -- as the innocent always suffer the most.

Someday I hope an informed, much wiser world population will rise up on both sides of the fence -- and refuse to wage wars altogether. No leader can wage war without the cooperation of his minions -- who do not realize how much power they have. Unfortunately the human race is far from being that educated and enlightened. All we have to do is look at our president to see how much we have yet to learn. Too bad we do not have the likes of Abraham Lincoln to help us. Another Abe Lincoln may be in the wings -- but we will no hear from him ( or her ) until we are knee -- deep in trouble of some kind.

My hat is off to Larry Klayman for his dogged persistence. Only one of many invstigations going on right now needs to surface, and WJC's reputation will falter even more.

My intuitive guess is that the Monicagate scandal has opened the door. WJC's credibility has been significanly weakened encouraging the individuals who wish to bring him to justice, as well as those who might have been too scared to testify. It is a matter of time before everything starts to unravel -- and it will unravel very swiftly when it does. Problem is -- it is hard to tell when the unraveling will occur.

I think WJC is running scared, since he is using 'attack dogs' such as Larry Flynt and James Carville -- it will probably backfire as Dick Morris said today -- WJC's fears and paranoia are making him behave much too aggressively.

All WJC needs to do now is irritate the members of the Senate the way he did the House -- which he probably will. My guess is that the speedy trial in the Senate will end when WJC refuses to cooperate. As Dick Morris has said -- all of the impeachment proceedings so far would not have been possible if WJC had admitted his affair with Monica in January.

CDE is projecting the cost to mine gold at its Kensington mine in Alaska at less than $195 an ounce. Is anybody doing it cheaper?

http://biz.yahoo.com/rf/981222/za.html

I think the strongest argument for gold holding its own is that the US dollar cannot be allowed to strengthen significantly ( gold below 280/oz ) without destroying the world's financial system. At the very least, our balance of payments would be even more dismal that it is right now.

For this reason, I don't think the European CB's will sell their gold. But -- on the other hand I don't think the powers that be will sit idly by while gold skyrockets to $350/oz either. There will be a trading range for gold -- and it will be fairly tight.

Wish I had been more alert at the switch, and sold my gold equity holdings at the beginning of the week. Well, at least I still have about 60% of my liquid assets in cash, and the rest languishing in precious metals equities.

We do need to be on the lookout for another market meltdown -- where the CB's lose control of the markets completely. Given the EURO launch this month, they will be on red alert.

If we do get a market collapse, all those people fed the lies/deception/welfare will have a rude awakening -- y2k alone could do it. They will not take their lot quietly -- especially in the big cities.

I am not proud of being an American -- when I see what has been done to destroy the character of individuals less fortunate/literate than you and I -- those who do not realize that the lies are far more insidious than just the lies that come from the president. The very fabric of the American way has been distorted. The president did not start the lies -- but he seems to be the culmination of them.

Now -- such lies have been spread before -- in the 20's as well. But now the scope of these lies is much greater -- the very political base of one of our national parties depends on the unsuspecting public believing the lies/distortion of the truth. I think many of our Democratic leaders have begun to believe their own lies -- or at least to think that they cannot exist without repeating the lies. Our 'welfare class' has been duped into believing that they can survive on handouts from the government, instead of having to fend for themselves by the substistence farming in the 20's. In return for votes.

I realize now that what should have been done was to develop 'grass roots' programs to develop job skills years ago -- in the local communities. And -- people should have been slowly relocated to rural areas where the working conditions would have been much better -- in the long run. This is what will happen eventually, anyway, but at great cost. When the unsuspecting public awakens, they will lash out against the government that jilted them, as well as against innocent others who happen to be nearby.

The US government should never have gotten involved with welfare. I am ashamed to be an American and see what we have damage we have wrought with the American Indian repeated on so many others.

I am appalled that the current leader of this country can actually say he is in favor of education and taking care of the children, when he has done nothing to correct a monumental mistake in government leadership. This mistake makes all the xxxgates look minuscule. The deception of millions of people who now have had their identity taken away from them -- by their own goverment.

So -- are we 'merikans about to replay the script of the 1925-1929 period? With variations ( poetic license ) thereon. Let's see:

-- Then: the roaring 20's, living for the moment -- Now: Heinlein's crazy years -- liberal political 'mania' - black is white, wrong is right -- 125% house loans, negative savings rates. OJ Simpson acquittal. Living for the moment.

Then: 10% equity margins -- Now: Credit card borrowing ( no margin ) .

Then: Booming markets from 1925 to 1929, collapsing after economic slowdown, commodity collapse -- Now: Booming markets, despite slowdown predictions, commodity collapse.

Then: Automotive overproduction/collapse -- Now computer hardware overproduction/collapse, automotive overproduction/collapse coming up.

Then: Considerable personal savings ( despite the 20's boom ) -- Now: No savings, with 1% actual hard cash in the banks -- rest virtual.

And: What we didn't have in 1929:

1 ) An impeached president wagging the dog

2 ) The information revolution

3 ) Y2k problem

4 ) Horrendous private/corporate/federal debt

5 ) Electronic money ( not paper ) -- instant evaporation possible.

Anything to add?

One light shining through the darkness of these crazy years is from the Republicans who voted for what was best for the country this last weeked, and not for what the public opinion polls indicated. For that I am still proud to be an American.

Perhaps Diogenes can still find an honest man ( In the good 'ol USofA ) .

Happy Holidays.

So -- no critical reason to sell gold equities, despite their drop, IMHO. Another buying opportunity coming up soon? I don't know.

I had thought by now that the WJC stuff would have given a big boost to gold equities -- perhaps WJC's minions will be able to keep a lid on those ladies that haven't spoken up yet -- like the one from Arkansas that know s all about Charlie Trie -- and just cancelled a talk show session, according to Matt Drudge because her house was broken into, and computer files trashed. Death threats too -- like the ones Asa Hutchinson is getting?

What really frightens me more than losing in the markets -- is what WJC has up his sleeve. What does a 'caged animal' like him -- a master in political poll analysis to mold his public image -- do after impeachment?

There are no more elections for him to prepare for. The only thing is some surprise linked to the y2k crisis. Martial law, triggered by an intentional 'sabotage' of the governments preparedness?

Come y2k what will the Democrats do for a presidential oncore? Nomimate Al Gore? Nominate Hillary? How will Hillary get the nomination now? Perhaps the Dems are just as worried as the Republicans.

The same factors for golds demise are still in a motion; namely large reserves of gold held and used by CBs for leasing and sales, forward sales by major producers and multinational cooperation between and by banks and governments. Until something comes along to upset this paradigm, gold will languish and continue to disappoint us all.

These forces that are determined to foist a one world currency and government upon us all, ANOTHER SELF DENIAL, are in control and it will not be stopped, save by the grace of GOD, or GOD saves those that help themselves.

When we begin to lose our sovereignty, self identity ( those with self pride and heredity such as Haggis, the Jews, downunders, Italians, Arabs and others from every segment of this planet ) and there is a MacDonalds on every corner of this earth, we will know that their victory over us will be complete.

We are fools that fight each other through NWO design, instead of realizing who the real enemy is. We are all brothers of this world and people of GOD. Until we understand what we are up against and band together and stop hating or disliking each other we will get what we so deservedly merit; enslavement.

I thank GOD that there are those such as Kitcoites, independent free thinkers, that will fight to the end for freedom, self expression and honesty in all things. Do not despair, every dog has its day.

To end on a happier note, I bid everyone a happy holiday and best wishes for the coming year.

Bono Natale,

Pete

I'll be away from here for one week. I assume that things will be pretty much as they were when I return. I mean, if war, impeachment, and all the other stuff that you and others have pointed to haven't moved POG, then it ain't gonna move until it fits the purpose of those magicians who keep it where it is.

I once dabbled in magic, tame stuff, card tricks, simple feints, simple illusions. When I am confronted with a trick that can't be done. It is usually transparent upon close observation by a trained magician, as being done THE ONLY WAY POSSIBLE. I am not sufficiently skilled in examining the magic of the POG handlers, but, the seeming manipulation will be transparent to those who really know the levers. Or at least I think so.

Re: Japan Post.

Change -415.29 ( -2.93% )

Low for the year was 12,787.90