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Old November 10th, 2009 #101
Alex Linder
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Gold heading to $2000 as predicted by Jim Rogers?

LONDON (Commodity Online): Is the gold boom coming on your way as Jim Rogers predicted? Last month, legendary commodities investor Jim Rogers predicted that gold prices will surge to a record $2000 per ounce, thanks to the plunging US dollar.

On Monday, gold soared to an all-time high of $1110 per ounce in global markets. Is Jim Rogers laughing all the way to bank, if he has invested in gold cheap some months or years back? Or is he laughing at Nouriel Roubini who has countered last week that Jim Rogers' prediction of gold at $2000 per ounce was simply 'nonsense.'?

Here is an interesting article on the 'fight' between two legendary personalities: Jim Rogers and Nouriel Roubini from moneynews.com

Investor Jim Rogers successfully predicted a rally in commodities back in 1999. New York University economist Nouriel Roubini predicted the collapse of the housing market and financial meltdown back in 2006.

Now the two gurus are predicting each other to be incorrect. Rogers says Roubini's forecasts for bubbles to pop in the gold and emerging-market stock markets is just wrong. “What bubble?” says Rogers, Bloomberg reported. “It’s clear Mr. Roubini hasn’t done his homework, yet again.”

According to Roubini, investors are borrowing dollars to buy emerging market stocks and commodities, which is inflating the value of those assets.

Rogers counters, arguing that Chinese stocks and commodities including sugar, silver, coffee and cotton have all fallen from historical highs by at least 50 percent.

He even says gold hasn't begun to peak, adding that it will climb from a nominal record near $1,100 an ounce to $2,000 an ounce in the future.

“The old high, back in 1980 adjusted for inflation, would be over $2,000 now, just to get back to the old high. So we’ll certainly get there some time in the next decade.”

Meanwhile, finance ministers from the G20 group of wealthy nations agreed that economic stimulus packages should remain in place, thus weakening the dollar, which normally pushes gold prices higher.

Low interest rates in the United States will also help those bullish on gold.

“Unless there's a turn in U.S. interest rates, gold will be well bid,” says Ronald Leung, director at Lee Cheong Gold Dealers in Hong Kong, according to the AFP newswire.

http://www.commodityonline.com/news/Gold-heading-to-$2000-as-predicted-by-Jim-Rogers-22774-3-1.html
 
Old November 10th, 2009 #102
Xuxalina Rihhia
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Take the Jews' gold; all of it!
 
Old November 11th, 2009 #103
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"To speak his thoughts is every freeman's right, in peace and war, in council and in fight."
Homer-The Iliad

"The very aim and end of our institutions is just this: that we may think what we like and say what we think."

-Justice Oliver Wendell Holmes, Jr.

 
Old November 11th, 2009 #104
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John Maynard Keynes



The Joker

 
Old November 11th, 2009 #105
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Barrick shuts hedge book as world gold supply runs out

Global gold production is in terminal decline despite record prices and Herculean efforts by mining companies to discover fresh sources of ore in remote spots, according to the world's top producer Barrick Gold.

By Ambrose Evans-Pritchard, International Business Editor
11 Nov 2009

Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.

"There is a strong case to be made that we are already at 'peak gold'," he told The Daily Telegraph at the RBC's annual gold conference in London.

"Production peaked around 2000 and it has been in decline ever since, and we forecast that decline to continue. It is increasingly difficult to find ore," he said.

Ore grades have fallen from around 12 grams per tonne in 1950 to nearer 3 grams in the US, Canada, and Australia. South Africa's output has halved since peaking in 1970.

The supply crunch has helped push gold to an all-time high, reaching $1,118 an ounce at one stage yesterday. The key driver over recent days has been the move by India's central bank to soak up half of the gold being sold by the International Monetary Fund. It is the latest sign that the rising powers of Asia and the commodity bloc are growing wary of Western paper money and debt.

China has quietly doubled holdings to 1,054 tonnes and is thought to be adding gradually on price dips, creating a market floor. Gold remains a tiny fraction of its $2.3 trillion in foreign reserves.

Gold exchange-traded funds (ETFs) – dubbed the "People's Central Bank" – have accumulated 1,778 tonnes, making them the fifth biggest holder after the US, Germany, France, and Italy.

Ross Norman, director of theBullionDesk.com, said exploration budgets had tripled since the start of the decade with stubbornly disappointing results so far.

Output fell a further 14pc in South Africa last year as companies were forced to dig ever deeper - at greater cost - to replace depleted reserves, not helped by "social uplift" rules and power cuts. Harmony Gold said yesterday that it may close two more mines over coming months due to poor ore grades.

Mr Norman said the "false mine of central banks" had been the only new source of gold supply this decade as they auction off reserves, but they are switching sides to become net buyers.

Barrick is moving fast to wind down the remaining 3m ounces of its infamous hedge book over the next twelve months, an implicit bet on rising gold prices over time.

Mr Regent said the company had waited too long to ditch the policy, which has made the company enemy number one among 'gold bug' enthusiasts. The hedges oblige Barrick to deliver part of its gold into futures contracts set long ago at levels far below today's spot prices.

The strategy worked well in the falling market of the 1990s, but has cost the company dear in lost profits this decade. "Hindsight is always 20/20," said Mr Regent, who was appointed from the outside earlier this year.

Barrick bit the bullet in the third quarter, taking a $5.7bn charge against earnings on hedge contracts. Liberation is at last in sight. In 2001 the hedge book topped 20m ounces.

Mr Regent said the hedge policy has weighed badly on the share price and irked investors, becoming a bone of contention at every meeting. The financial crisis brought matters to a head as markets fretted about counterparty risk. "It was clear to me that there were a significant number of institutions who wouldn't invest in Barrick because of the hedge book," he said.

Barrick produced 1.9m ounces of gold last quarter, down from 1.95m a year earlier. Costs have been "trending down" to $456 an ounce, though rising energy prices pose a fresh threat. Total reserves are 139m ounces, far ahead of rival Newmont Mining at 86m.

The hedge book venture has not been a happy one, but those who predicted that Barrick would eventually "blow up" on its contracts may owe the company an apology.

http://www.telegraph.co.uk/finance/n...-runs-out.html
 
Old November 11th, 2009 #106
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Is there a gold bubble forming?
 
Old November 12th, 2009 #108
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"Then there is this chart of the Shadow Gold Price. In the old days of the Bretton Woods Agreement, countries had to maintain certain ratios of gold against their currencies. The Shadow Gold Price aims to replicate this discipline. So for the US, the Shadow Gold Price is Federal Reserve Bank liabilities (bank reserves) plus money in circulation divided by US gold holdings. Also on the chart, you can see the spot price of gold.



The important thing here is that you see how massive amounts of money creation have barely made an impact at all in the gold price - so far. Gold is fundamentally cheap compared with all the money added to the system in recent months.

As Paul Brodsky and Lee Quaintance of the hedge fund QB Partners write:

"If one allows for even a small probability of a future monetary system that reflects more honest/tangible money, then a quick glance at the graph above makes it easy to conclude that spot gold is fundamentally cheap. Even if this is too far a stretch for market participants skeptical of such a radical change in monetary policy, it is reasonable to conclude that the prices of spot gold and the Shadow Gold Price should converge somewhat over time."

They note that the spot gold price has never been so cheap compared with the Shadow Gold Price. For parity to set in, gold would have to trade for $16,000 per ounce! No one is predicting $16,000 per ounce gold. In any case, it shows you the risk of holding paper - and bonds - on the eve of a massive devaluation of the dollar. Maybe the central bankers of Russia, Venezuela and Ecuador understand all of this better than they let on and that's why they are buyers of gold."

by Chris Mayer of Daily Reckoning http://dailyreckoning.com/
 
Old November 13th, 2009 #109
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GURU OUTLOOK: JIM ROGERS ISN’T BUYING THE EQUITY RALLY
12 November 2009 by TPC 34 Comments

This week’s guru outlook brings you Jim Rogers. Rogers has become infamous in recent years for his prescient calls on the global meltdown and the commodity boom, but long before that Rogers became famous for co-founding the Quantum Fund with George Soros. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund (see here for the Soros Guru outlook) while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds.

Rogers has an interesting outlook currently. He has been very vocal about his inflationary outlook, but doesn’t see the liquidity driven bubbles that some other see forming. In fact, he doesn’t see any bubbles in anything other than the U.S. treasury bond market:

“The only bubble I see forming in the Western world is in the U.S. government bond market. Other than that I don’t see any bubbles going on.”

Rogers, a follower of Austrian economics, absolutely hates that the Fed is bailing out the banks and attempting to print us to prosperity. He thinks the winners in this printing press environment are commodities which he believes are in the middle of a secular boom. Paper assets and the dollar are the losers in Rogers’ scenario of money printing while real assets win. Rogers is a huge bull on gold miners and gold:

“no new large gold mines have been opened in decades. Some of those mines are over 100-years old. They are all depleting. On the other hand, central banks have huge Gold reserves above ground — and they are less interested in selling than in the past.

If you adjust Gold for inflation and go back to its former all-time high in 1980, Gold should be over $2,000 an ounce right now if you want to say it’s reaching new inflation adjusted all-time highs. That does not mean Gold has to get back to a true all-time high. Nothing has to. However, I suspect that given all the money printing in the world, we will see much higher prices for hard assets.”

Despite his optimism regarding gold, Rogers is actually more optimistic about other commodities:

“Despite Gold’s potential, I think I will make more money in other commodities such as silver, cotton, or coffee — all of which are terribly depressed.”

What does Rogers think about the equity markets? He has been very vocal about his investments in China, but isn’t currently buying equities as they reach new highs:

“I am not buying any stock markets around the world right now, they have all gone up a lot and I do not like to buy anything when its been going straight up for a while.”

Rogers sees enormous headwinds for the global economy. He thinks the government has simply kicked the can down the road, but this doesn’t mean he is betting against equity markets. Rogers does not want to stand on the tracks when the Fed Printing Express comes down the line. He has no idea how high the Fed can push equity prices:

“This is one of the few times in my life I have not had shorts anywhere in the world. I have also not had a lot of longs in the stock market because I’ve chosen longs in commodities and currencies. I have kept away from shorts because there is a gigantic amount of money being printed and it has to go somewhere. I thought some of it would end up in the stock market, and it has.How much higher can the equity markets go? I don’t know. There are a lot of problems in the economy, but I don’t know when those problems will cause a downdraft in the stock market. All we’ve done is paper over the problem, so I expect we’ll have to deal with those issues in the future. Printing and spending money we don’t have simply prolongs the problems and makes them worse in the long run.”

In this scenario, he thinks commodities are a no-brainer:

“If the world economy improves, commodities will lead the way due to demand and shortages. If the world economy does not get better, commodities are still a great place to be because governments are printing so much money. And, if the world economy doesn’t get better, they will print even more money!”

What is his favorite investment? Rogers absolutely loves farmland:

“I’m convinced that farmland is going to be one of the best investments of our time. Eventually, of course, food prices will get high enough that the market probably will be flooded with supply through development of new land or technology. If you can tell me something else where the fundamentals are so attractive…I’d be happy to put my money there, but I don’t know of any other place.”

http://pragcap.com/guru-outlook-jim-rogers-isnt-buying
 
Old November 13th, 2009 #110
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Quote:
Originally Posted by Alex Linder View Post
Even you, Igor?

Jesus P. Christ - the fact that I quote from someone does not mean I endorse anything, most, or even 15% of what they say, unless I state that. I'm quoting one thing they said either because it is a pertinent fact or an interesting idea, or a true idea. Do I really have to state every time I quote a libertarian or a Nazi that I am not a libertarian or a Nazi, or a libertarian theocrat that I do not want to live in a Christian state?
Woaa, slow down...

Is your whole idea not that whites should, with a few caveats, be able to organize themselves however they see fit at the community level, free from the interference of a power-hungry central government? If so, then what is wrong with communities of Christians organizing themselves along Christian lines within their own communities? If a Christian community wants to run itself theocratically, what's the problem? As long as they're not shoving their theocracy down your throat, of what concern is it to you? That's all I was saying. I certainly was not suggesting that you, of all people, want to establish a Christian (or any) theocracy at the national level!
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Old November 13th, 2009 #111
Xuxalina Rihhia
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Now the heathen chinee are into manipulation of gold--literally!

http://news.goldseek.com/GoldSeek/1258049769.php

By: Rob Kirby

“Gold Finger - A New Take On Operation Grand Slam With A Tungsten Twist”

I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:

1] - irregularities in the publication of the gold ETF - GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back up to 800 or so pages.

2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.


Why Tungsten?

If anyone were contemplating creating fake gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it.

Unfortunately, there are now more sordid details to report.

When the news of tungsten “salted” gold bars in Hong Kong first surfaced, many people who I am acquainted with automatically assumed that these bars were manufactured in China – because Heathen China is generally viewed as “the knock-off capital of the world”.

Here’s what I now understand really happened:

The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].

This was apparently all highly orchestrated by an extremely well financed criminal operation.

Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.

And here’s what the Chinese allegedly uncovered:

Roughly 15 years ago – during the Clintong Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of tungsten, gold-plated bars shipped to Ft. Knox.

The balance of this 1.3 million – 1.5 million 400 oz tungsten cache was also plated and then allegedly “sold” into the international market.

Apparently, the global market is literally “stuffed full of 400 oz salted bars”.

Makes one wonder if the Indians were smart enough to assay their 200 tonne haul from the IMF?


A Slow Motion Train Wreck, Years in the Making

An obscure news item originally published in the N.Y. Post [written by Jennifer Anderson] in late Jan. 04 has always ‘stuck in my craw’:

DA investigating NYMEX executive - Manhattan, New York, district attorney's office, Stuart Smith - Melting Pot - Brief Article – Feb. 2, 2004

A top executive at the New York Mercantile Exchange is being investigated by the Manhattan district attorney. Sources close to the exchange said that Stuart Smith, senior vice president of operations at the exchange, was served with a search warrant by the district attorney's office last week. Details of the investigation have not been disclosed, but a NYMEX spokeswoman said it was unrelated to any of the exchange's markets. She declined to comment further other than to say that charges had not been brought. A spokeswoman for the Manhattan district attorney's office also declined comment.

The offices of the Senior Vice President of Operations - NYMEX – is exactly where you would go to find the records [serial number and smelter of origin] for EVERY GOLD BAR ever PHYSICALLY settled on the exchange. They are required to keep these records. These precise records would show the lineage of all the physical gold settled on the exchange and hence "prove" that the amount of gold in question could not have possibly come from the U.S. mining operations – because the amounts in question coming from U.S. smelters would undoubtedly be vastly bigger than domestic mine production.

We never have found out what happened to poor ole Stuart Smith – after his offices were "raided" – he took administrative leave from the NYMEX and he has never been heard from since. Amazingly [or perhaps not], there never was any follow up on in the media on the original story as well as ZERO developments ever stemming from D.A. Morgenthau’s office who executed the search warrant.

Are we to believe that NYMEX offices were raided, the Sr. V.P. of operations then takes leave - all for nothing?

These revelations should provide a “new filter” through which Jew Rothschild exiting the gold market back in 2004 begins to make a little more sense:

“LONDON, April 14, 2004 (Reuters) - NM Rothschild & Sons Ltd., the London-based unit of investment bank Rothschild [ROT.UL], will withdraw from trading commodities, including gold, in London as it reviews its operations, it said on Wednesday.”

Interestingly, GATA’s Bill Murphy speculated about this back in 2004;

“Why is Rothschild leaving the gold business at this time my colleagues and I conjectured today? Just a guess on my part, but suspect:”

*SOMETHING IS AMISS. THEY KNOW A BIG GOLD SCANDAL IS COMING AND THEY WANT NO PART OF IT. …”

“ROTHSCHILD WANTS OUT BEFORE THE PROVERBIAL "SHIT" HITS THE FAN.” BILL MURPHY, LEMETROPOLE, 4-18-2004

Coincidentally [or perhaps, not?], GLD Began Trading 11/12/2004


In light of what has occurred – regarding the Gold ETF, GLD – after reviewing their prospectus yet again, it becomes pretty clear that GLD was established to purposefully deflect investment dollars away from legitimate gold pursuits and to create a stealth, cesspool/catch-all, slush-fund and a likely destination for many of these “salted tungsten bars” where they would never see the light of day – hidden behind the following legalese “shield” from the law:


Excerpt from the GLD prospectus on page 11:

http://www.spdrgoldshares.com/media/...Prospectus.pdf

Gold bars allocated to the Trust in connection with the creation of a Basket may not meet the London Good Delivery Standards and, if a Basket is issued against such gold, the Trust may suffer a loss. Neither the Trustee nor the Custodian independently confirms the fineness of the gold bars allocated to the Trust in connection with the creation of a Basket. The gold bars allocated to the Trust by the Custodian may be different from the reported fineness or weight required by the LBMA’s standards for gold bars delivered in settlement of a gold trade, or the London Good Delivery Standards, the standards required by the Trust. If the Trustee nevertheless issues a Basket against such gold, and if the Custodian fails to satisfy its obligation to credit the Trust the amount of any deficiency, the Trust may suffer a loss.


The Fed Has Already Been Caught Lying


Liberty Coin’s Patrick Heller recently wrote,

Earlier this year, the Gold Anti-Trust Action Committee (GATA), filed a second Freedom of Information Act (FOIA) request with the Federal Reserve System for documents from 1990 to date having to do with gold swaps, gold swapped, or proposed gold swaps.

On Aug. 5, The Federal Reserve responded to this FOIA request by adding two more documents to those disclosed to GATA in April 2008 from the earlier FOIA request. These documents totaled 173 pages, many parts of which were redacted (covered up to omit sections of text). The Fed's response also noted that there were 137 pages of documents not disclosed that were alleged to be exempt from disclosure.

GATA appealed this determination on Aug. 20. The appeal asked for more information to substantiate the legitimacy of the claimed exemptions from disclosure and an explanation on why some documents, such as one posted on the Federal Reserve Web site that discusses gold swaps, were not included in the Aug. 5 document release.

In a Sept. 17, 2009, letter on Federal Reserve System letterhead, Federal Reserve governor Kevin M. Warsh completely denied GATA's appeal. The entire text of this letter can be examined at http://www.gata.org/files/GATAFedRes...09-17-2009.pdf.

The first paragraph on the third page is the most revealing. Warsh wrote, "In connection with your appeal, I have confirmed that the information withheld under exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve Banks that was obtained within the meaning of exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you."

This paragraph will likely be one of the most important news stories of the year.

Though not stated in plain English, this paragraph is an admission that the Fed has in the past and may now be engaged in trading gold swaps. Warsh's letter contradicts previous Fed statements to GATA denying that it ever engaged in gold swaps during the time period between Jan. 1, 1990 and the present.

[Perhaps most importantly], this was GATA's second FOIA request to the Federal Reserve on the issue of gold swaps. The 173 pages of documents received for the 2009 FOIA request all pre-dated the 2007 FOIA request, which means they should have been released in the response to the earlier FOIA request. This establishes a likelihood that the Federal Reserve has failed to adequately search or disclose relevant documents. Further, the Fed response admitted that it had copies of relevant records that originally appeared on the Treasury Department Web site, but failed to include them in its response.

Now that Federal Reserve governor Warsh has admitted that the Fed has lied in the past about the Fed’s involvement with gold. It should now be very clear to everyone why the Fed is lying and the true nature of what they are hiding/withholding.


On Doing God’s Work

An important footnote to consider is the inter-twined-ness of the U.S. Federal Reserve and the U.S. Treasury [can anyone really tell them apart?] as well as this duopoly’s two principal agents (founded by Jews!) – J.P. Morgan-Chase and Goldman Sachs. When one truly grasps the nature of these highly conflicted relationships it gives a fuller meaning to words recently uttered by Goldman head, Lloyd Blankfein, who claimed,

“I’m doing god’s work”

Does this really mean that Mr. Blankfein believes that the Federal Reserve is goDD? You can judge for yourself. While the Fed prints money like no one else could - except Odin almighty himself [or Gideon Gono, perhaps?] – I really doubt that was the intent back in 1864, when the U.S. adopted “In God We Trust” as their official motto.


And that’s my two cents worth for today.

Got [real] physical gold yet?


Rob Kirby

 
Old November 16th, 2009 #112
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Spot gold over $1130.
 
Old November 16th, 2009 #113
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. . .over $1143. . .
 
Old November 16th, 2009 #114
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Quote:
Originally Posted by Igor Alexander View Post
Woaa, slow down...

Is your whole idea not that whites should, with a few caveats, be able to organize themselves however they see fit at the community level, free from the interference of a power-hungry central government?
Yes.

Quote:
If so, then what is wrong with communities of Christians organizing themselves along Christian lines within their own communities? If a Christian community wants to run itself theocratically, what's the problem? As long as they're not shoving their theocracy down your throat, of what concern is it to you? That's all I was saying. I certainly was not suggesting that you, of all people, want to establish a Christian (or any) theocracy at the national level!
I have no problem with crissy morons self-operating - but if they try to use any force on me, I will fight. Some things are worth killing over - race and keeping Christ-insanity off human civilization are two of them.
 
Old November 16th, 2009 #115
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Quote:
Originally Posted by Rick Ronsavelle View Post
. . .over $1143. . .
Go! Go! Go!
 
Old November 16th, 2009 #116
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North overlooks the fact that Gold traded higher throughout the 1930's
internationally ( ownership was not criminalized everywhere) Homestake appreciated 6x :

 
Old November 17th, 2009 #117
Xuxalina Rihhia
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Yes, foreigners visiting Ameriqaeda could legally buy gold from 1933-1975 while
Ameriqaedan slaves could not do so.
 
Old November 17th, 2009 #118
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Alix Steel

TheStreet.com Published on Monday, Nov. 16, 2009 1:31PM EST Last updated on Monday, Nov. 16, 2009 5:18PM EST

Jim Rogers, renowned global commodities investor and author, says gold prices will hit $2,000 (U.S.) in a decade.

Gold prices have risen 20 per cent in the past year, recently testing a new high of $1,133.50. With strong speculative fund buying, a weakening U.S. dollar and inflation fears, investing in gold is a popular trend as the precious metal becomes an alternative asset class.

Physically backed SPDR Gold Shares (GLD-N111.970.340.30%) has risen almost 15 per cent YTD and Market Vector Gold Miners ETF (GDX-N51.530.190.37%) has popped over 30 per cent.

Rogers' love of gold is nothing new, but with gold in a strong bull market, I wanted to know if the trade was too crowded.

Jim Rogers: I don't ever like to buy something making all time highs however I'm not selling my gold. Gold is going to go much higher in the course of the bull market. Doesn't mean it can't go down 20 per cent next year but during the course of the bull market it is going to go much higher it is certainly not a bubble yet.

Jim you are typically a contrarian investor. If everyone is buying, shouldn't you be selling?

Jim Rogers : Yes, I should be selling at the top, but I don't think this is the top. Gold, if you adjust it for its old highs, adjust it for inflation back in 1980, gold should be over $2000 an ounce right now. In my view, in this bull market in commodities gold will make all new highs adjust for inflation.

What about mining stocks as a way to play rising silver and gold prices?

Jim Rogers: Not with my money. The studies show that you would make more investing in commodities themselves rather than commodity stocks unless you are a very good stock picker. If you are a good stock picker, unless you find a company that is going to discover silver in Berlin you buy all you can and then you call me and I'm going to buy it too ....short of something like that and there are a hundred gold stocks and most of them don't pan out. But if you own gold, gold is making all time highs.

Aside from gold, what other precious metals do you own?

Jim Rogers: I own silver as well. I would suspect that if you were buying [gold or silver right] now silver would be a better buy. I mean gold is making all time highs, [but] silver is 70 per cent below its all time high. Now, if my thesis is right about commodities that they're going to make new all time highs, obviously you would make that much more [money] in silver than in gold.

What about palladium and platinum?

Jim Rogers: I own them all. I think probably now the better plays would be palladium and silver but again let me hit you over the head and say I am world worst market timer and trader. I think you would make more money with silver and palladium at this point but I own all four [gold, silver, palladium, platinum].

What would you say would be the best diversified portfolio right now?

Jim Rogers: If the world economy is going to get better , commodities are going to lead the way because there are shortages developing in all commodities. If the world economy is not going to get better, I promise you stocks are not going to be a good place to be, but commodities will be the better place to be because they're printing so much money. And if the world economy doesn't get better they are going to print a lot more money. So if you're going to own something you should own commodities or you should own currencies. That's another way that you can invest in what's going on in the world.

When will gold hit 2k?

Jim Rogers: I wish I was that smart. You should watch TheStreet.com. They know everything.

http://www.theglobeandmail.com/globe...rticle1365211/
 
Old November 17th, 2009 #119
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http://www.timesonline.co.uk/tol/new...cle6919516.ece

From The Times November 16, 2009

Army tells its soldiers to 'bribe' the Taleban

(Reuters)
Taleban fighters at an undisclosed location in Afghanistan: British forces are being told to buy off potential recruits with 'bags of gold'
Michael Evans, Defence Editor
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British forces should buy off potential Taleban recruits with “bags of gold”, according to a new army field manual published yesterday.

Army commanders should also talk to insurgent leaders with “blood on their hands” in order to hasten the end of the conflict in Afghanistan.

The edicts, which are contained in rewritten counter-insurgency guidelines, will be taught to all new army officers. They mark a strategic rethink after three years in which British and Nato forces have failed to defeat the Taleban. The manual is also a recognition that the Army’s previous doctrine for success against insurgents, which was based on the experience in Northern Ireland, is now out of date.

The new instructions came on the day that Gordon Brown went farther than before in setting out Britain’s exit strategy from Afghanistan. The Prime Minister stated explicitly last night that he wanted troops to begin handing over districts to Afghan authorities during next year — a general election year in Britain.

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Addressing the issue of paying off the locals, the new manual states that army commanders should give away enough money to dissuade them from joining the enemy. The Taleban is known to pay about $10 (£5.95) a day to recruit local fighters.

Major-General Paul Newton said: “The best weapons to counter insurgents don’t shoot. In other words, use bags of gold in the short term to change the security dynamics. But you don’t just chuck gold at them, this has to be done wisely.”

British commanders in Afghanistan and Iraq have complained that their access to money on the battlefield — cash rather than literal gold — compares poorly with their US counterparts.

Adam Holloway, a former army officer and the Tory MP for Gravesham in Kent, said that the idea was a matter of “shutting the door after the horse has bolted”. He added: “I know that a number of generals thought in 2006 that, rather than send a British brigade to Helmand, they should buy off people in the tribal areas. Now it’s too late.”

Mr Brown told the Lord Mayor’s Banquet at Guildhall in the City last night that a summit of Nato allies would be held in London in January, which could set a timetable for the transfer of security control to the Afghans starting in 2010. Military sources said that the first areas to be involved would probably be in the north and west of Afghanistan — not in Helmand in the south, where British troops are based.

The counter-insurgency field manual also highlights the importance of talking to the enemy. “There’s no point in talking to people who don’t have blood on their hands,” General Newton said, launching the document in London.

Britain’s early experience of handing out cash in Afghanistan proved abortive. About £16 million in cash was given to farmers to stop them growing poppy crops for the heroin trade, which helps to fund the Taleban. The money is believed to have had little impact on the opium yields.

The manual says that money can be the answer, if it is prudently distributed. “Properly spent within a context of longer-term planning, money offers a cost-effective means for pulling community support away from the insurgents and provides the military with a much-needed economy of force

measure,” it says. “Unemployed and under-employed military-aged males typically provide the richest vein from which insurgents recruit ‘foot soldiers’. Short-term, labour-intensive projects are therefore the best way to disrupt such recruiting.”

“The counter-insurgent should be careful not to be over-generous since this will distort local economic and social activity and may lead to unproductive dependency.”

The positive impact of military units going into battle with bags of cash at their disposal is underlined in the manual by the experience of a top British commander who served in Iraq. “The hoops that I had to jump through to get the very few UK pounds that were available were . . . amazing; the American divisional commanders were resourced and empowered in ways that we could only dream of,” he says.

“UK commanders on recent operations have not had quick access to the same levels of cash as . . . their US counterparts,” the manual says. “Where possible, mission command should apply to money as much as any other weapon or enabling system.”

It is more than eight years since the Army last published a counter-insurgency doctrine, when the main lessons contained in it arose from operations in Northern Ireland and the Balkans.

General Newton, Assistant Chief of Defence Staff Development Concepts and Doctrine, said that new ideas were needed to cope with the media-savvy insurgents who are fighting in Afghanistan and that there was no place for arrogance on the part of the British military hierarchy, relying on their experience of past campaigns.

The Americans complained in Iraq that the British in Basra too often referred to the lessons of Northern Ireland in dictating how the insurgency should be handled.

A bomb disposal specialist from 33 Regiment Royal Engineers was killed by an explosion near Gereshk in central Helmand province on Sunday, the Ministryof Defence said yesterday. He was part of the Counter-IED (improvised explosive device) Task Force and the 97th member of the Armed Forces to die in Afghanistan this year.



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Ash khan wrote:
if they are giving gold after 8 years, i wonder what will UK offer to taliban if they stay another 5 or 6 years over there.....
dont play with the life of poor soldiers, u could not protect Afghans, at least save UR own people by bringing them home!
November 17, 2009 11:21 PM GMT on community.timesonline.co.uk Recommend? (2) Report Abuse Permalink
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Old November 18th, 2009 #120
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