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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Bert who wrote (25988)	1/18/2003 2:26:11 PM
From: c.hinton	Read Replies (1) \| Respond to of 36161

We are not just interested in ME oil. news.bbc.co.uk

To: Bert who wrote (25988)	1/18/2003 2:29:53 PM
From: E. Graphs	Read Replies (1) \| Respond to of 36161

When did Saddam say he wanted his oil paid for in euros? Wasn't that in late summer of 2001?

To: Bert who wrote (25988)	1/18/2003 11:22:22 PM
From: SliderOnTheBlack	Respond to of 36161

bert; re: Auerback's commentary - ["Similarly, from a monetary perspective, Federal Reserve Governor Ben Bernanke has already told us that in a fiat-based currency system underpinned by the US dollar, the US monetary authorities ultimately face no external constraint in their attempts to avoid deflation. All the central bank needs is a printing press. The Fed can be the marginal buyer of all the debt the Treasury can issue any time it so chooses at any interest rate it chooses. The Fed, as the monopoly supplier of fiat money, faces no budget constraint save its own sense of prudential balance sheet growth and composition. None whatsoever"] ...read - nearterm; the Fed will do whatever it takes to turn the US economy....regardless of the longterm negative implications. The alignment of the Fed, Wall St and our Global allies behind GW Bush is NOT just about GW's relection campaign... we are seeing a global geopolitical & economic event of historic proportions. Huge unprecedented misallocations of future capital are going to be sucked up via the coming decade+ long War on Terrorism, Homeland Security infastructure buildout; let alone our ramping account deficit & reckless Fed Fiat ramp that the Fed will utlilize #1 - because it has to, #2 for GW's relection and #3 for Greenspans simultaneous intact-legacy exit opp. Gold Bulls face a formidable wall here... I think late 2004-2006,maybe 2007 will bring the final bottom in this Bear and the final upcycle leg in Gold....2003-early 2004 is going to see the will of GW & Mr. Greenspan served, regardless of any longerterm negative reprecussions. I think Auerback's message for Gold Bulls nearterm, re: "US monetary authorities ultimately face no external constraint" - is.... DONT FIGHT THE FED ~as imho, the mother of all prop-jobs is coming... The canary in the coal mine/alarm won't be allowed to sound... and remember that everyone from Jack Kemp, to Steve Forbes, to Larry Kudlow all called for a Gold Price of $340 to $360 - as a level indicative of adequate Fed activity... and where are we now (VBG) ? It's going to take a couple years for the debasement of the US Dollar, the acceleration of our deficit and the ongoing valuation contraction to play out.... to bring Gold's ultimate top. I think GOLD's ascent will be controlled nearterm here... and whatever needs to be bailed, or propped to support US Policy will be... and that is NOT good for Gold nearterm.... but, is good for Gold longterm.... merely plan/trade accordingly. Don't Fight the Fed, or the coming prop job... lie patiently in wait for it to all play out... sadly the US has it's back against the wall and really has to somewhat sell out our longerterm future, for nearterm policy support & gain... and will do so imho - at ANY cost. - patience....as in multiple years, not multi-months; for this to all play out. And as for the derivatives bubble collapsing... aint going to be allowed to happen during this historic geopolitical period....JPM ala LTCM will be bailed out... in fact; I predict JPM get's bought/merges before the end of 2003.

To: Bert who wrote (25988)	1/19/2003 2:35:03 AM
From: Cogito Ergo Sum	Respond to of 36161

OT Bert, There's a China Junior thread, JW actually cross posted you post there.http://www.siliconinvestor.com/readmsg.aspx?msgid=18440781 Kastel

To: Bert who wrote (25988)	1/19/2003 9:02:42 AM
From: Frank Pembleton	Respond to of 36161

Bert... thanks for posting -- it's a must read by all! Here's an excerpt of what I think is the best paragraph of that article: Iraq as the “51st state” is obviously not one designed to appease America’s allies. But one can readily see the advantages for the Americans, particularly in regard to the dollar. A major prop for the dollar has long been the simple fact that oil is priced in dollars. If the new Iraqi petroleum authorities announce that they will accept only checks in dollars, invest their surplus in dollars, and swell American exports by contracting principally with American firms for services and goods, both the long and short term prospects of the dollar will brighten. OPEC -- RIP 2003 Regards, Frank P.