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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: PaulM who wrote (33843)	5/14/1999 1:14:00 AM
From: Rarebird	Respond to of 116779

The announcement by the BOE exactly one week ago has brought about great psychological damage to the Gold Market: the worst fears of Gold Bulls have been realized: the message is clear: Sell Gold and invest it in the Almighty Dollar. We have a War on our hands here. It is a WAR ON GOLD: WAR ON GOLD Britain, The USA and The IMF are running scared, trying to keep confidence in the faltering Keynesian economic game. Britain is the latest to announce that they are selling huge stock piles of low yielding gold to purchase higher yielding paper money investments. They have announced the selling off of more than half of their gold reserves, 415 tones of their 715 tones reserve over the next 2 years. This follows the April 28, 1999 announcement by the IMF that it is ready to sell some gold, perhaps one-and-a-half-billion dollars worth. President Clinton proposed last March that the International Monetary Fund should sell a large portion of its gold reserves to finance debt relief for heavily indebted countries. Why is Britain, The USA and The IMF selling their gold reserves? Because it is bulky and not a profitable investment? Because there is too much of the shiny metal about? Has the world lost interest in gold? Rather it is fear! Fear that the current fiat money game is about to collapse before their eyes. And out of desperation they have declared war on honest money. And eventually nothing good will be held sacred as "all is fair in love and war". It was the near collapse of Long-Term Capital Management (LTCM) last September that accelerated this fear. LTCM is a hedge fund specializing in large-scale speculation, and it's near collapse caused light to be shown upon the ugly workings of the money manipulation game and unfunded paper assets. LTCM was heavily exposed to Asian currency devaluations and gold loans. Had LTCM been allowed to collapse it would have sent shock waves throughout the economic house of cards and would have caused full blown panic and economic chaos. Gold would have risen to the top of the economic food chain as the real store of value. Paper currency would have been exposed as the great fraud that it is, and the bubble like economic system that likes to play money games would have been blown apart. Impending Y2K chaos has also raised the Government's fear level. Gold sales are at record levels and signs of mistrust are showing themselves through out society. Even the Government's own experts are not 100% sure that there will be no fallout from Y2K. People are beginning to hoard valuable supplies instead of hoarding Federal Reserve Notes as feared by Greenspan. Y2K survival items are getting impossible to find with waiting lists growing longer. Survival retreats are skyrocketing in value and anxious folks are being told by the official media not to worry. But why would they sell gold? It is like fixing the game. First, by dumping large amounts of gold they mesmerize the herd. Then suddenly uninterested in gold they turn to paper money assets. The herd is unable to do anything but follow, stampeding alongside, trying to be the first one's to get those now precious paper money assets. A classic Wal-Mart style Christmas season run on Furbys. Secondly, by waging war on gold they hope to bail out the other hedge funds that are at risk. What they are not telling us is the true health of the Keynesian economic game. And of the similar fate awaiting other hedge funds and similar investment schemes, unfunded paper assets, Federal Reserve Notes and the stock market. The Keynesian economic game has aged and has been on it's death bed for a long time. But it is going to die hard. Rubin, Greenspan, Central Bankers and other economic power houses have a vested interest in keeping the economic body alive. Adrenaline shots are repetitiously administered to the patient in the form of lower interest rates. They are hoping you will shop until you drop to keep the game alive. You would think the economic patient is alive and well but it is more like an electrified Frankenstein Monster that you see dancing about. About the only organ still alive in this animated body is the ferociously cancerous loans that are racing though out the system. And where is this propelling us? Because of outright denial of the problems associated with the Keynesian game the economic élite are forcing this game into overtime. The patient who once had a good heart and brain is now so weakened beyond saving that most of the organs are now considered to be unfit even for transplant. I am left to wonder, will the decaying, artificially animated mater cause the spread of disease to social bodies (riots) and political bodies (war)? What this all mean to you? Because of the war being raged against gold, the dollar will remain strong going into the next depression and world wide deflation. But the menace to the bubble that Rubin and Greenspan are trying to keep inflated is the faith of the American people. And they are gambling that they can keep us out of a deflationary spiral by enticing us to bail out the world through spending. As we go into deflation we will find ourselves way over our heads because of our spending sprees done on remortgaged upon remortgaged loans and unable to service our debts because of the softening of our economy. There will be increased bankruptcies, people will become spooked and will curb their spending habits. Getting into debt will become scary even though Greenspan keeps dropping rates. The economy will stall and the markets will tank. Realize that the only thing floating the economy right now is spending. Most of the rest of the world has already curbed their spending. Now, it is up the American consumer to do the spending for the whole world. The good faith and credit of the American people will begin to come into question. Strong currencies like the US dollar will begin to be seen for what they have become. Backed by nothing real and unredeemable. Remember the economic collapse of Rome. The people ran to the streets to dump their debased Roman money for anything of value. The faith in the currency was lost, people realized they really couldn't see the value of coins made mostly of tin, with a likeness of an important person stamped on them. Chaos ensued and war reigned happily there after. For us the worst case scenario will spell the death to paper assets and civil unrest, remember Indonesia? Yes, my prediction for the future is grim, much worse than many of you expect. I sincerely believe this is where we are heading. I have prepared for the worst, have you? I also look forward to the new beginning on the other side of the economic collapse. Do you have the means (Game Money on hand) to survive through the accelerating deflationary period? Do you have the means (Gold and Silver) to preserve your wealth through the following hyper-inflationary period? Do you have what it takes to make a good life for yourself and your friends after the economic reset button has been pushed and everything restarts. I hope you will view my comments as coming from a very prepared optimist. And that you will try to be open to the possibilities and get prepared just in case. In this war the casualties will be vast. The survivors will be in a whole new world of opportunity. See you there. Darren Perkins May 12,1999 gold-eagle.com P.S. We Gold-Bugs will have the last laugh!

To: PaulM who wrote (33843)	5/14/1999 1:18:00 AM
From: Alex	Respond to of 116779

Chinese president suggests U.S. is pursuing global dominance Copyright © 1999 Nando Media Copyright © 1999 Associated Press • Nando's special in-depth coverage of the Israeli election. Nando's in-depth coverage of The Confrontation Over Kosovo. By CHRISTOPHER BODEEN BEIJING (May 13, 1999 8:51 p.m. EDT nandotimes.com) - While praising victims of NATO's bombing of the Chinese Embassy in Belgrade as heroes, China's president accused the United States on Thursday of seeking global dominance and urged nations worldwide to defy American bullying. The harsh words showed just how much the embassy bombing in Yugoslavia has damaged Chinese political will for smooth U.S. relations - particularly since they came from President Jiang Zemin, who last year claimed credit for engineering a rapprochement with Washington. But in a sign China is willing to ease tensions, Jiang also agreed to speak to President Clinton for the first time since Saturday's embassy bombing. White House officials said they were working to arrange a telephone call between the two leaders, although it was not clear if it could take place by Friday. Jiang has so far avoided speaking to Clinton. But he conveyed his willingness to talk through the Chinese ambassador in Washington, who took a condolence book to the White House for Clinton to sign Thursday. At an emotional ceremony conferring the title of "revolutionary martyr" on the three victims of the bombing, Jiang outright called the United States a term China reserves for enemy countries - "hegemonist" - for the first time in three years of improving relations. Jiang said the United States was using its economic and technological superiority to aggressively expand its influence, pursue "power politics and wantonly interfere in the internal affairs of other countries." Jiang, who also heads the Communist Party, hinted that public protests around the U.S. Embassy that ended Tuesday could renew if Chinese demands for redress were not met. The United States and NATO must make formal apologies, thoroughly investigate the bombing and punish those responsible, the official Xinhua News Agency quoted him as saying. "Otherwise the Chinese people will never let the matter go." The state-sanctioned protests brought tens of thousands of Chinese into the streets in 20 cities, saw the U.S., British and Albanian embassies stoned and a U.S. consul's residence set on fire in the western city of Chengdu. In Beijing's embassy district, police removed road barriers Thursday, allowing cars and pedestrians to travel freely for the first time since the four-day protests began Saturday. Signs that guided the tens of thousands of protesters to the British and U.S. embassies were removed. Fearing further unrest, paramilitary police maintained a cordon around a two-block area near the U.S. Embassy, keeping foreign reporters and curious onlookers well away. The embassy itself was a mess after being pelted with rocks, bottles and paint bombs by the protesters. A day after the victims of last Friday's embassy bombing returned to Beijing, the communist leadership on Thursday honored the three killed, all journalists. "The great People's Republic of China can never be bullied," Jiang said, with the rest of the leadership arrayed around him and relatives of the dead and wounded in the audience. The war in Yugoslavia and the embassy bombing made more countries aware of the United States' quest for dominance, Jiang said. He appealed to them to unite to create "a just and rational new international order in the common struggle against hegemonism and power politics." Government support for the protests - biased media coverage, party groups busing students in and police standing by as demonstrators rampaged - have drawn criticism from U.S. officials. Foreign Ministry spokesman Zhu Bangzao assailed suggestions of government connivance as "unwarranted" and called the protests acts of understandable outrage. "This is natural, justifiable and brooks no questioning," Zhu told reporters. "We do not condemn or condone those lawbreaking activities. I'm sure you have seen what we have done in recent days," Zhu said, referring to the tighter security imposed Tuesday. With the protests over, U.S. officials were reassessing security plans and beginning to repair damage to the embassy and also to the consulates in Chengdu and the northeastern city of Shenyang, embassy spokesman Tom Cooney said. To aid that effort, the embassy and the two consulates will remain closed until at least Monday and the issuing of visas for work travel or study in the United States will be suspended indefinitely at the embassy and all four U.S. consulates in China, Cooney said. U.S. consulates in Guangzhou and Shanghai, which were not badly damaged during similar protests there, will reopen Friday. The White House also announced its nominee to become the new ambassador to China, retired Adm. Joseph W. Prueher. If confirmed by the Senate, he would replace Ambassador James Sasser in Beijing.