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

To: Jim Willie CB who wrote (19821)	6/3/2003 12:26:14 AM
From: T L Comiskey	Read Replies (2) \| Respond to of 89467

"cake hole"= trap...yapper... mouth

To: Jim Willie CB who wrote (19821)	6/3/2003 8:46:22 AM
From: T L Comiskey	Read Replies (2) \| Respond to of 89467

Gold: The messenger Richard Russell Dow Theory Letters snippet Jun 3, 2003 Extracted from the 02 June 2003 issue of Richard's Remarks . . . Gold --as I've noted, every night gold is knocked down by some unseen individuals or group of individuals. Then during the day gold magically rises to the plus side. The case for owning gold has become overwhelming. The Fed is inflating and the broad money supply is expanding at an annualized rate of 7.2%. Beyond that, the unfunded liabilities of the US government are at a total of $44 trillion. The latter we learn from a report that was first suppressed by the Bush administration, but which was released, once the statistics were "out of the bag." How in God's name the US will address this crushing future burden I don't know. The Bush administration will hold off addressing this staggering problem until, you guessed it -- "after the election." It seems to me that government programs such as Social Security and Medicare will have to be cut and at the same time the US money supply will have to be vastly expanded as these programs are paid for -- with more blizzards of paper. How the dollar will survive all this is a mystery to me. But as I said, all the above make the rationale for owning gold almost irrefutable. "The market always does what it's supposed to, but never when," runs the old adage, and I believe this pertains to gold and gold shares. Years of adverse propaganda and Fed-sponsored nonsense have gone a long way towards tarnishing gold in the mind of the US public. The US Constitution defines the dollar in terms of gold and silver, not in terms of cotton and linen. This truth has been obscured, even denied, by central bankers. It has been ignored by Congress and by the Supreme Court. But then, getting around the Constitution has never been a problem for Congress. And a few cynics claim that the Constitution is simply what the Supreme Court says it is. I'm not one of the cynics, by the way -- I think the Constituion means exactly what it says. Somewhere ahead I expect that we will witness an all-out panic to own the yellow metal. In the meantime, consider the present as the first phase in the gold bull market. The first phase is the phase wherein informed investors accumulate an underpriced asset. The most underpriced asset on the face of the earth today is gold. While tens of billions of dollars are being produced by today's Fed, the production of gold from the mines is actually decreasing. For the benefit of new subscribers, you should know that gold is seen as a menace by the central banks. The central banks want to be free to inflate without fear of contradiction. Gold is the contradiction. A rising gold price acts as a red flag, a sign saying "STOP," as far as the central banks are concerned. Deep within the unconscious of man is the instinct that tells him that gold is money and that a rising gold price is a "danger-flag." Even decades of anti-gold propaganda has not obliterated that deep instinct. This is why the central banks fear rising gold. Gold is not only real money, it's "the messenger." It's this messenger aspect of gold that frightens central bankers. It's gold that ultimately exposes their inflationary manipulations -- the manipulations that systematically rob all savers of the fruits of their labor. More follows for subscribers . . . Richard Russell Dow Theory Letters © Copyright 2003 Dow Theory Letters, Inc 321gold.com

To: Jim Willie CB who wrote (19821)	6/3/2003 10:50:12 AM
From: stockman_scott	Respond to of 89467

Here's part of an email from a friend of mine...folks are starting to get upset with the leaders of our country... <<...Just like the administration had doubts about whether or not Iraq had WMDs, they now have doubts as to whether or not they'll be able to install a US friendly regime there. But all those doubts are also being kept quiet. I'm guessing that the administration realizes that they are totally f'ed on the issue this coming election. That is, they waged a war that was (1) legally justified by the existence of WMDs that did not, in fact, exist, (2) morally justified by their imagined desires of the Iraqi people that were only imagined, (3) ethically justified by the expectation that the victory would result in an Iraq that was more pleasant to live in, and (4) practically justified by the (incredibly naive) belief that conquering Iraq would reduce Arab terrorism. I'm thinking that Bush is blaming a lot of his troubles on the Israelis, and that is why Sharon (against his earlier promises) is now negotiating with Palestinians that continue to attack Israel. That is, it was probably information from the Israeli right (i.e. Debka) that convinced Bush that there really were WMDs, and it is natural right wing behavior to blame the foreigner/other for the trap that one has led oneself into...>>