To the e-gold list: Happy Presidents Day, Dateline: worldwide The price of gold is to its highest level in almost two years. The last time gold prices and mining stocks hit this level quickly was in late 1999 and early 2000 when concerns about overheated stock markets and European central bank reserves saw the metal price quickly above US$315 an ounce.
What is going on? Volatile days of trading is sending investors searching for protection against another slide in stocks and the economy. There are seven more Enron's out there all called G7. What is the G7? How can they be compared to Enron? what is a money myth as applied to the G7? President George W. Bush's economic stimulus plan will not pass through Congress, and has been withdrawn. This failure of the U.S. fiscal stimulus plan is heaped on to a market still burnt from the Enron accounting scandal and other stock meltdowns, People are cynical and suspicious. Despair is spreading, investors lose faith in the chances of a strong economic rebound later this year. South Africa's AngloGold Ltd. followed the lead of many smaller miners, cutting back its price hedging program. This is proof that the industry expects the gold price to keep rising. A spate of industry consolidation seems likely to curtail production over the next few years, boosting prices and profits, This will maintain the Global limited supply of actual Gold metal. Demand for gold exceeds newly mined supply by about a thousand tons a year. The difference is made up mainly by drawing on stocks held by central banks and private investors. Which is THE Swiss Central Bank, they are on it STELLAR MAJOR (got their finger in the damn) and must sell off for the breaks to break on a run away gold price. Who is the Swiss bank selling to? What is the LBMA? Who is UBS Warburg? What is a money myth as applied to the Swiss Bank? Following inflationary Argentina, Deflationary Japan is expected to incur an unsustainable debt burden of $1 trillion in protecting depositors from the collapsing banking system, which is a long anticipated financial crisis that about to erupt. long-term significance is the rush by wealthy Japanese to invest in bullion bars. It's been triggered by the impending cancellation of the government guarantee on all bank deposits above Y10 million or USD$75 000. Why? have I always maintained WHACKY gold derivatives as certain death. Write now as I right this the derivaters have a sinking feeling. John Reade, precious metals analyst at UBS Warburg in London, describes this Japanese rush to buy as "potentially the biggest gold demand of the decade". As predicted the market still has some troubles ahead because expectations for a quick recovery and for surging corporate profit growth this year has proven too optimistic. Congressman Ron Paul of Texas has introduced legislation designed to curb the ability of the President or the Treasury Secretary to manipulate worldwide gold prices. The "Monetary Freedom and Accountability Act" restores proper congressional authority over gold policy by requiring that body to vote its approval before the President or Secretary buys or sells gold. I'm tickled Yellow, how bout you? Got Gold? Kind Regards Mark S. Öhberg Contraian giddy gold bug http://two-cents-worth.com/?107245&EG --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
