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

To: Sully- who wrote (6770)	9/19/2002 5:12:15 PM
From: Jim Willie CB	Read Replies (4) \| Respond to of 89467

<font color=YELLOW>JPM WILL DIE FROM 1000 CUTS, GOLD WILL WIN damn, how do I get color? anyone? just having fun, fooling around following Dealer's instructions, but it dont work surprised she still talks to me? dont be, since I am a charming rogue / jim

To: Sully- who wrote (6770)	9/19/2002 5:26:57 PM
From: Jim Willie CB	Respond to of 89467

silver fraud: stainless steel being sold as silver??? silver is NOT magnetic, but sampled items attracted a magnet wow, that explains how authorities are handling shortfalls / jim GOLD & SILVER POTPOURRI, by Bob Chapman We have the unfortunate task of reporting that Stillwater Mining's lower production levels will hurt its earnings and may lead to a failure to comply with loan covenants. It has cut 2002 production targets to 640,000 ounces of palladium and platinum down from an estimated 680,000 ounces. Yet production is up 22% from last year. They have $43 million in cash for operations and $198 million outstanding of a $250 million line of credit facility. Once the news was released the stock dropped to $6.70 a share. This stock sold at $36.50 a year and a half ago. The stock price does not justify the value of the company and if political problems continue in South Africa and there is any mine disruption in South African platinum and palladium properties, this stock will soar. On a long-term basis this stock is a steal. Over the past two years the refrain has become a familiar one. The outlook for the equity and mutual fund investor remains grim as you remember we have been short the market and long golds and the Prudent Bear Fund for 29 months. July saw the biggest outflow of money from mutual funds, $52.6 billion, ever. As we predicted there is no end in sight. Gold funds over the last 12 months are up 51.8%. The second best markets were Hong Kong and Taiwan, which were up 24.2%. Real estate was up 9% and bonds 8%. This year gold funds are up 42.7% with real estate up 6.9%. Since March of 2000 gold funds are up 68.3%, real estate 45.4% although relatively illiquid and small cap value special situations 19.9%. The bail-out has begun. Anglo-American is selling 15% of its existing South African mining assets to black businesses to meet the country's aim of boasting black influence in the industry. We can promise you the move was done with a gun muzzle firmly pressed against someone's temple. Anglo also said they were willing to sell 25% or more of the equity in new mining projects to black interests. All of you with South African mining shares should be paying attention because it is obvious Anglo American is selling out. We believe the phase out will take five years. Black investors don't have the capital to buyout or take 51% ownership positions in mining companies it can only come from the government probably in the form of bond issues. You do not want to own these stocks when there are very viable alternatives such as Agnico-Eagle (AEM-NYSE) and Goldcorp (GG-NYSE), both unhedged gold and silver producers. We found it of great interest that when Colin Powell spoke at the World Summit on Sustainable Development he was booed so badly he had to stop delivering his speech, while fellow Marxist Robert Mugabe, President of Zimbabwe, was given twice the allowed speaking time and was never jeered or booed once. There was even a pro-Mugabe demonstration put on and planned by the Central Intelligence Organization. The Zimbabweans living in South Africa hate Mr. Mugabe because of what he has done to their country. In his speech he said he was not forcing anyone off their farms and other such propaganda. What he failed to mention was that 75% of the farms were bought by white farmers after Mugabe came to power under the auspices of Britain in 1980. This is an example of where Africa is headed. Black Africans want white Zimbabwe and South Africa and Mugabe is simply leading the charge. You have to be blind not to see what is coming. We may talk about Mugabe being a loose cannon, but we have also recognized that he is an elder African statesman looked up to and feared by other powerful Africans. Financial planners and some brokers are finally beginning to add gold and silver and gold and silver shares to portfolios, an average 3-5%. Gold shares are up 42% this year and that's after a sharp correction in July. Surprisingly there has been a renewed interest in buying gold bars, which for many years were ignored by gold investors who concentrated on easier-to-handle coins. Most gold and silver bullion buyers and coin buyers are taking delivery of the metal and hiding it or are putting it in their personal safes, not trusting banks or the government. Today equity owners of gold and silver stocks are buying more coins and bars than in the past and this has caused a growing pressure upward in metal prices. The gold cartel can't suppress prices forever that's why we recommend buy and hold. Is a silver scandal out there brewing? After reading about Brian who checked Wal-Mart, Bells, a pawn store and a Jewelry store and finding that their "sterling" was attracted to a magnet, I went out yesterday and did the same thing. I went to the Richardson Square Mall in Richardson, Texas. I bought a magnet from Sears and went on my journey. First stop was one of those Kiosks called the Silver Mine. Should have been called the steel mine. Anyway, all of the "sterling" I tested was magnetic except one of the smallest chains. Every heavy piece was magnetic. The vendor insisted it was sterling and said I was wrong. Next stop, Kay Jewelers (Big chain), They sell a line they claim is sterling and is treated so it will never tarnish. One 18" chain was $160.00. All of it was magnetic. The store manager said that he knows for a FACT that it is sterling. I asked him if he saw it manufactured? He said no. Then I said "You can't then know for a fact." Unless he had it assayed. He still insisted it was sterling and wanted me to go away. Off to Zales. They don't sell silver. Next to Bellini Jewelers. This is not a chain. The owner was there. I tested his one flat of "sterling" silver chains and all but one were magnetic. He was indignant that I told him his chains were not sterling and was very belligerent. He insisted that he would continue selling the chains as sterling so long as he bought them as sterling silver. He wanted me to go harass Kay Jewelers because they were bigger than he was. I asked what that had to do with it? He didn't answer. I told him I would contact the authorities. Next to Sears! They had lots of "sterling", about 60% was magnetic. The area manager was very concerned and would bring it to the store manager's attention. I researched this issue on the Web and found lots of stuff. To summarize, to be called "sterling" in the U.S.A., the piece must be 92.5% silver. However, all references I could find only listed copper as the other alloy. One said zinc but a jeweler friend I talked to told me that zinc would boil off at the temperature it takes to melt silver. So, there we have it! Massive quantities of "silver" that is NOT SILVER in the stores. It must be tons and tons all across the country. This is unbelievable! What disgusts me the most is that three out of four vendors insisted the chains were silver when the magnetic properties were staring them right in the face! What a massive fraud! Now we know what is supplying the 110 Million silver deficit, steel! What a huge scandal! Where are the regulators that so many of the sheeple trust? I am going to buy a magnetic sterling chain and have it tested. I'll let you know the results. Send the army out with magnets, let's test the world! Went back to Sears. They are still selling the magnetic silver. I talked to 2 more supervisors who took my name and phone number. They will check into it on Monday to see what is going on. They seemed concerned and wanted to fix the problem. Next, I went to Wal-Mart. They had silver jewelry and I bought a $5.00 magnetic "sterling silver" bracelet made by Savant. I am going to have it tested by an expert. All of the Savant silver chains were magnetic. The clerk was concerned but did not think Wal-Mart management would care. September 16, 2002 THE INTERNATIONAL FORECASTER An international financial, economic, political and social commentary. Published and Edited by: Bob Chapman