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To: Jim Willie CB who wrote (50059)	4/15/2002 5:05:20 PM
From: stockman_scott	Read Replies (1) \| Respond to of 65232

An interesting editorial... Message 17334029

To: Jim Willie CB who wrote (50059)	4/15/2002 5:12:03 PM
From: stockman_scott	Respond to of 65232

O'Neill: U.S. Poised for Robust Growth Monday April 15, 1:56 pm Eastern Time GRAND RAPIDS, Mich. (Reuters) - The United States economy appears poised to return to solid growth, Treasury Secretary Paul O'Neill said on Monday, adding that his optimism about the economy last year appeared justified. ``Business spending will revive as companies gradually restock the inventory pipeline and invest in those high-return projects that have been on hold,'' O'Neill said in a speech prepared for delivery to the Economic Club of Grand Rapids in Grand Rapids, Michigan. He credited the tax cut package enacted last year, interest rate reductions by the Federal Reserve and the flexibility of the U.S. economy with keeping the economic slump that began last year brief and relatively mild. ``Employers took immediate steps to turn things around and the result was an eye-popping 5.2 percent productivity growth in the fourth quarter of last year,'' O'Neill said, adding that the economy appeared ``poised to return to robust growth.'' The Treasury chief reiterated that he expected growth in U.S. gross domestic product to approach a 3-3.5 percent annual growth rate by year end. After falling into recession in March 2001, the U.S. economy perked up in the fourth quarter of 2001, growing at an annual pace of 1.7 percent. It is expected to have expanded at a pace of about 5 percent in the first quarter of this year. O'Neill also used the occasion of Monday's April 15 deadline for filing individual income taxes to highlight the administration's efforts on tax simplification. Treasury on Monday released the first of what it says will be a series of reports on areas of the tax code that could be made simpler. The report dealt with the various definitions of a child in the code. O'Neill said the complexities of the code act as a drag on the economy. ``My apologies to lawyers and accountants in the audience -- I'm sure you're all very nice people. But our economy would be better off if we could simplify the tax code and retrain you all as engineers!'' he said. Treasury is taking steps to crack down on tax cheats, O'Neill said.

To: Jim Willie CB who wrote (50059)	4/15/2002 7:34:25 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 65232

Silverback...what happens when people who have leased silver default? Do they pay it back in cash with a penalty, or in gold? Do they have to find some Ag somewhere, regardless of the price? Sundance

To: Jim Willie CB who wrote (50059)	4/15/2002 7:57:29 PM
From: stockman_scott	Read Replies (3) \| Respond to of 65232

THE END OF THE AGE OF OIL? NASA CLAIMS EXISTENCE OF DEEP RESERVOIRS OF NATURAL HYDROGEN !!!!!!!!!!!!!!!! ch2bc.org by Robert Matthews Electronic Telegraph April 14, 2002 THE world's energy problems could be over after the discovery of vast quantities of hydrogen gas, widely regarded as the most promising alternative to today's dwindling stocks of fossil fuels, in the Earth's crust. The find by scientists has stunned energy experts, who believe that it could provide virtually limitless supplies of clean fuel for cars, homes and industry. ...Scientists at Nasa, the American space agency, have found that the Earth's crust is a vast natural reservoir of hydrogen which has become trapped in ancient rocks. The team made its discovery while trying to explain how bacteria live many miles below the Earth's surface. Such bugs have no access to sunlight, forcing them to rely on another source of energy for life. Scientists suspected that hydrogen was the source. According to Professor Friedemann Freund and colleagues at Nasa's Ames Research Centre, in California, the gas is produced when water molecules trapped inside molten rock break down to release hydrogen. "In the top 20km of the Earth's crust, the conditions are right to produce a nearly inexhaustible supply of hydrogen," said Prof Freund. Studies by the team of common rock types such as granite and olivine have revealed extraordinarily high levels of trapped hydrogen. Prof Freund told The Telegraph that his team had "tantalising evidence" that as much as 1,000 litres of hydrogen may be trapped in each cubic metre of rock. ...The most promising source of the hydrogen may be geological "traps" similar to those now drilled for natural gas. Prof Freund said: "One of these natural hydrogen fields is already known to exist in North America, and extends from Canada to Kansas."

To: Jim Willie CB who wrote (50059)	4/16/2002 2:11:07 AM
From: lisalisalisa	Respond to of 65232

you like silver more than gold? what are your fav golds?

To: Jim Willie CB who wrote (50059)	4/16/2002 10:56:29 AM
From: Clappy	Respond to of 65232

SilverBullet, let silver prices stay droopy Looks like you are getting your wish. Silver is still falling today. I saw an e-wave count calling it to fall below $4 perhaps in time. If it approaches the lows in the coming months I may join you. Btw, Have you been watching the Nikkei ($NIKK). I'm telling ya, I like that chart. Even if it's just a large sized correction. Trying to figure a way to leverage myself better with it in mind... EWJ moves with it but want more movement than that. Got any ideas? -SilverBackSushiEater

To: Jim Willie CB who wrote (50059)	4/16/2002 12:43:45 PM
From: Sully-	Read Replies (1) \| Respond to of 65232

12:39 ET Bond Ticker : Bond market under a good deal of pressure at this point; 10-yr -15/32... 5.200%. However prices off their lows. Equities have not given up any noticeable gains, and with the stock market thinking that earnings may be somewhat better than expected (on today's releases and guidance) the indices are well near their highs for the session. The dollar is getting absolutely crushed in recent trading despite the ferocity of the rally in US equities; $-¥: 131.17

To: Jim Willie CB who wrote (50059)	4/16/2002 1:21:43 PM
From: Sully-	Read Replies (2) \| Respond to of 65232

Reuters Business Housing Starts Plunge Nearly 8 Percent By Mark Felsenthal WASHINGTON (Reuters) - U.S. housing starts plunged 7.8 percent in March, their biggest drop in two years, the government said on Tuesday, in a sign the housing sector is giving back some of the strong gains it made over the mild, dry winter. ``Housing is no longer going to be adding strength to the economy, but it still looks as if it's going to be a solid underpinning to the expansion,'' said Robert Dederick, an economic consultant for Northern Trust Co. Ground breaking for new homes dropped to a seasonally adjusted annual rate of 1.646 million units from an upwardly revised 1.785 million unit rate seen in February, the Commerce Department said. Starts on single-family homes -- the largest category of activity -- fell 11.4 percent, the biggest fall-off since January 1994, Commerce said. Analysts had forecast a decline, but not such a steep one. Market-watchers polled by Reuters had expected housing starts to fall to a rate of 1.686 million units. Building permits, an indicator of future activity, fell by 9.9 percent, the largest drop since February 1990. ``The housing starts number was a surprise. Everyone has heard about how strong the market would be, but we had an unseasonably mild winter, which pulled some starts into January and February. That shows up in the March decline,'' said Mark Vitner, senior economist at Wachovia Securities in Charlotte, North Carolina. Starts fell by 12.9 percent in the South and by 6.2 percent in the West, the two biggest regions for home building. Ground breaking for new homes fell by 7.0 in the Midwest but rose 15.5 percent in the Northeast. The decline in housing starts is a soft signal for the U.S. economy, which most observers believe is emerging gradually from a slump that began in March 2001. Consumer prices rose in March, the government reported on Tuesday, but the increase was less than expected. Housing observers have long been wondering when the levels of building and buying would cool off the torrid levels of late last year and the early part of 2002. Many economists had cautioned the warm winter may have pushed housing activity to unsustainable levels. Analysts said that despite the drop, the sector appears quite healthy. The chief economist for the National Association of Home Builders, David Seiders, said his forecast for the year remains just over 1.63 million starts -- still an improvement over 2001. biz.yahoo.com

To: Jim Willie CB who wrote (50059)	4/16/2002 3:59:03 PM
From: Sully-	Read Replies (1) \| Respond to of 65232

Reuters Securities COMEX gold ends down, support at $300/oz dissolves NEW YORK, April 16 (Reuters) - COMEX gold slipped back under $300 an ounce Tuesday, tipping silver to a seven-week low, but held above last week's bottom as funds cashed in longs and money moved back into the stock market, dealers said. Gold's safe-haven premium was eroded but its allure as a hard asset was only partially dulled as U.S. Secretary of State Colin Powell prepared to depart the war-torn Holy Land without a truce commitment from Israel or the Palestinians. June gold (0#GC:) ended down $1.20 at $299.50 an ounce after trading $300.90 to $298.30, where it held above last Wednesday's low of $298 despite an attempt by dealers to run stop-loss sell orders expected below that level. Estimated volume was a healthy 31,000 contracts. ``Funds were decent sellers, but we ended trying to rebound. Some talk about a cease-fire certainly helped weaken the market and also stronger equities,'' said James Pogoda, a vice president of precious metals at Mitsubishi International Corp. Powell held what looked set to be his last meeting with Prime Minister Ariel Sharon after saying he was making progress, but might not be able to clinch a cease-fire agreement or an Israeli troop withdrawal from Palestinian areas before he leaves Wednesday. On Wall Street, investors cheered benign U.S. inflation data and the strongest industrial production figures in two years by pouring back into stocks, taking the Dow Jones industrial average up 203 points by late afternoon and the Nasdaq up 60 points. Other securities like U.S. Treasury bonds lost ground to stocks along with gold after reports showed factory output rose 0.7 percent in March, while the consumer price index rose a less-than-expected 0.3 percent. ``Of course the market wasn't helped by the very strong stock market all of a sudden, out of the clear blue sky,'' said an investment bank precious metals specialist. ``Some guys are saying that with energies (markets) being up they are an extra tax on the economy preventing some inflation. Maybe that didn't help the gold.'' Spot gold (XAU=) closed at $298.60/9.10, off from Monday's close at $299.60/0.10 but up from London's Tuesday afternoon fix at $297.75. Active May silver (0#SI:) fell 4.5 cents to settle at $4.405 an ounce, still under pressure after a 14.3 cent drop on Monday. The traded range was $4.48 to $4.39, the lowest since Feb 26. Turnover was estimated at a fairly brisk 19,000 contracts. Spot silver (XAG=) was last at $4.41/43, down from $4.45/47 late Monday. It fixed at $4.46. ``Silver needs what I call a cowbell. You need somebody like a guru to say 'I bought silver' and then everybody climbs on board,'' the investment banker said, reminiscing about the 1997-1998 rally after billionaire investor Warren Buffet bought 130 million ounces of silver. ``Silver has actually been basically following gold and just has a tough time getting out of its own way,'' the dealer said. NYMEX July platinum (0#PL:) rose $4.30 to $535.30 an ounce. Spot platinum (XPT=) closed at $534/539. Prices went up even though workers at Anglo American Platinum's Rustenburg precious metals refinery in South Africa went back to their jobs on Tuesday after calling off a strike over medical benefits. One refinery dealer said speculators thought platinum was a bargain in the low $530s with prospects for another strike in May still clouding the supply outlook from the world's largest platinum producer. June palladium (0#PA:) rose 65 cents to $369.65 an ounce. Spot palladium (XPD=) was last quoted $362/372. biz.yahoo.com