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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: mt_mike who wrote (4269)	8/9/2002 2:17:54 PM
From: Jim Willie CB	Respond to of 89467

the answer really begs question of what asset group remain commodities generally are at a cyclic low, undervalued a longterm CRB chart attests to this oil/energy is a question mark to me while Russia and other countries are likely to add to high supplies, the issue has always been in my view delivery and not purely supply crude oil in the ground does me no good, and cannot keep prices down crude oil in a supertanker, downed and submerged in the Straits of Hormuz, also doesnt add to refinery production disruption to supply lines will be occurring soon gold is and has always been (until they repealed this at the FedReserve in 1995) an historical store of value one really runs out of potential bubbles the funniest thing I can think of is being right about gold, riding it during these tough early quarters now, enjoying a meteoric rise in the next couple years, and continuing with it until 2006-08 at the top, then unloading only to see gold becoming the MOTHER OF ALL BUBBLES sounds good to me by the way, I am still up over 35% in my original SEAbridge purchased shares unfortunately, that figure was closer to 100% in July the holding time has been three months so far compare that with S&P or Naz the NYC Criminal Elite will need a final bubble I cannot think of a better one than gold it MUST be liquid, large volume, good potential, subject to manipulation with press/media, and capable of producing yet another bubble with investor frenzy I must repeat the most ironic of all gold fundamentals GOLD MINERS ARE ONE OF THE LARGEST PURCHASERS OF GOLD ON THE WORLD OPEN MARKET this was confirmed in the last week by Aussy Aurion and then again this week by Newmont in Wall Street terms, producers are net short on gold as for TBonds, you may not give much credence to a minor bubble pop, as USdollar declines in round#2 and round#3 as the dollar declines in each step, the signals become progressively louder and clearer, which justify and encourage the next round of dollar decline it is a true vicious circle I expect by next February for the dollar effect to be felt with TBonds as our interest rates mysteriously rise this will offer a textbook opportunity for our ignorant American public to learn about currency issues / jim

To: mt_mike who wrote (4269)	8/9/2002 3:32:40 PM
From: Jim Willie CB	Read Replies (1) \| Respond to of 89467

a fascinating "rebuttal" by GATA Howe to Barton Biggs goldensextant.com I would post it in full, but some great graphs e.g. gold vs JPM shares - gold price versus Dow index - gold price versus Fed gold change in holdings - gold price versus Treasury yield (Gibson's Paradox) I just love the name "Gibson's Paradox" given to the phenomenon that gold price rises as longbond yields drop the name was given by Lord Keynes KEYNES DIDNT UNDERSTAND THAT EXCESSIVE PURCHASE OF PRINTED BONDS WITHIN AN UNBACKED CURRENCY SYSTEM PUTS THE MONETARY SYSTEM AND BOND MARKET IN A CORNER, AS RATES REACH A BOTTOM, FROM WHICH GOLD NOT ONLY RESPONDS BUT FLOURISHES in recent years that excess in purchase of TBonds has been by none other than the Federal Reserve and Gold Cartel they sold gold and bought bonds the result was decline in gold, rise in dollar, with lower interest rates IT IS CALLED THE GOLD CARRY TRADE, which may have ended last year Biggs in late July jumped on the gold bandwagon, just in time to enjoy the correction was he a tool? was he a fool? who knows? who cares? I deeply desire the establishment to put 5-10% into gold holdings in a broad trend of diversification even without the benefit of understanding gold <G> / jim