Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

Spieler0815

Warum traust Du Dich nicht?

Seit über einer Woche schreibst Du Dir jetzt von der Seele, dass man mit Silber vorsichtig sein solle, Du ignorierst fast völlig die positiven Argumente die für eine Silber Anlage zum jetzigen Zeitpunkt sprechen.
Du behauptest dies und das, Du befürchtest dies und das, und Du verlangst von mir, und anderen Usern die die Silber Fundamentaldaten als positiv erkennen, und auch danach gehandelt haben, sie sollen jetzt gefälligst kritischer, und wie Du selbst über ihre Anlageentscheidung unsicher werden. Den User "Skeptiker" scheinen Deine Aeusserungen bereits dazu bewogen haben seinen Silber Bestand zu verringern.

Ist es das was Du mit Deiner Kritik bewirken willst?

Das Du alles was nicht Deinem engen skeptischen Silber Blickwinkel entspricht, Deiner Ansicht nach nur Gelaber darstellt, zeugt davon, dass Du entweder die Risiken unseres Fiat Money Systems (Papier Geld fast ohne physische Gold Deckung) nicht erkennen kannst, oder erkennen willst, oder einfach nur Freude dabei empfindest mit den selben abgedroschenen, unzutreffenden Phrasen unserer Finanzobrigkeit zu operieren, und die an möglichst tiefen Silber Preisen interessierten Silber Bullion Banken zu befriedigen.

Auf der anderen Seite hast Du ausdrücklich betont, dass Du selbst in Silber investiert bist. Trotzdem kritisierst und forderst Du die Ansichten, und Anlage Entscheidungen von Silber Bugs heraus, die genau wie Du selbst in Silber investiert haben, ohne auch nur ein einziges mal in einem Deiner häufigen Postings den Lesern klar zu sagen, was Du denn wirklich bezwecken willst.

Empfiehlst Du denn nun Silber zu verkaufen, oder doch nicht?

Fall ja, schreib es doch mal ganz klar!

Falls nein, sehe ich keinen Sinn in Deinen ewigen Wiederholungen, in denen Du zur Vorsicht vor Silber, und Silberinvestments warnst, und Silber gegenüber positive Beiträge von Usern hier im Board, und Autoren wie dem Silber Experten Butler, die in ihren Beiträgen interessante Fakten, und Hintergrundinformationen zum Silber Geschehen veröffentlichen kritisierst, wohlwissend, dass er sich weit weg, zu Deinen Anfeindungen und Unterstellungen nicht äussern kann.

Forderungen von Dir nach einer Diskussion über Pro, und Contra Silber Investitionen, sind sicher wünschenswert in diesem Thread, doch sollten die Fakten und Angaben die Du verwendest auch stimmen, und nicht nur aus Unterstellungen bestehen, wie zum Bsp. in Deinem absolut lächerlichen Versuch, eines Vergleiches von Silber mit Kartoffeln, in dem Du suggerierst, es gäbe Silber im Ueberfluss, ja sogar behauptest, ein Silberproduktions Defizit existiere womöglich gar nicht.

Dass Du Siegel unterstellst er sei eine Silber gegenüber kritisch eingestellte Person, ist genau so unwahr wie Deine Aussage man könne nirgends auf der Welt die Steuern mit Gold bezahlen. Dass Du bei dieser Aussage so beiläufig den Gold Dinar, ausgeschlossen hast, ändert nichts daran dass diese Aussage von Dir falsch ist. [Blockierte Grafik: http://www.e-dinar.com/html/img/p2_dinar.jpg]

Es gibt im vor allem im asiatischen Raum div. Länder mit kursgültigen Gold-, und Silber Münzen, zum Teil mit hohem Nennwert die zur Bezahlung von Steuern benutzt werden können, ohne vorher diese Gold Münzen in Papiergeld zu wechseln.

Thailand, das Land in dem ich selbst lebe, hat im letzten Monat zum einen eine neue kursgültige Goldmünze mit einem Nominalwert von 9000.- THB (ca. 180.- Euro) herausgegeben (Ausgabepreis zum Nominalwert, Gold Gewicht 15 Gramm, Goldgehalt 900), und zum andern eine kursgültige Silber Münze mit 600.- THB Nominalwert (ca.12.- Euro). Thailand gibt bereits seit sehr vielen Jahren immer wieder Kursgültige Gold, und Silber Münzen heraus. Mit diesem öffentlichen Zahlungsmittel, kann ich meine Steuern bezahlen.

In Vietnam, Laos, Kambodia, Burma, etc. kannst man Steuern mit Sicherheit ebenfalls mit Gold bezahlen. Es gibt dort auch (Fiat) Zinsen für Gold Einlagen auf der Bank.

Ja selbst in der Schweiz ist das gesetzlich möglich, nur macht es in der Schweiz niemand mehr, weil der Sammlerwert der Kursgültigen Gold Münzen 10.-, 20.-, und 100 Franken Vreneli heute bedeutend höher liegt als der Nominalwert.

Das selbe gilt ähnlich auch für Australien, Neuseeland, China, Russland, etc.

Das kursgültige Gold, und Silbermünzen heute teurer sind als der aufgedruckte nominale Ausgabe Preis von damals, zeugt auf jeden Fall davon, dass auf lange Sicht gesehen Gold, und Silber Münzen eine sichere, und werterhaltende Anlageform darstellen.

Das selbe kann man über Geld in Papierform nicht unbedingt behaupten.

Wer ein belegtes 14 Jahre anhaltendes Silber Produktions Defizit wie Du einfach so quasi als Lapalie verniedlicht, und nicht müde wird den Lesern hier im Thread einreden zu wollen, Silber sei evtl. keine gute Investitionsentscheidung, jedoch selbst nicht bereit ist konkrete Alternativen anzubieten, Kauf, oder Verkaufs Empfehlungen zu einer Silberanlage abzugeben, wirkt zumindest sehr oberflächlich.

Vielleicht könntest Du uns ja einmal neben Silber, und Gold ein weiteres Beispiel eines Rohstoffes, eines anderen Edelmetalles, oder irgend eines anderen X beliebigen Produktes nennen bei dem ein 14, respektive 13 Jahre langes Produktionsdefizit besteht. Falls Du ein solches Produkt finden solltest, überprüfe bitte, ob die Preise inflationsbereinigt wie beim Gold, und Silber der Fall, ebenso billiger sind als vor dem Eintreten des ersten Produktions Defizites.

Gruss

ThaiGuru

[Blockierte Grafik: http://www.goldseek.com/news/LemetropoleCafe/lmpc.jpg]

http://www.lemetropolecafe.com

September 13 - Gold $403.90 up $2.40 – Silver $6.17 up 4 cents

Physical Market Buying Spurs Gold/The Dutch And The Real Gold Story/Italy Says No

Zitat

Two roads diverged in a wood, and I... I took the one less traveled by, and that has made all the difference...Robert Frost

GO GATA!!!!

Physical market buying spilled over into the futures pits to propel gold off $2+ early losses into a healthy gain for the day. This action was of note since the dollar traded on the firm side all session long, closing at 88.82, up .31. The euro rallied late to finish at 122.50 down .09. Dresdner Bank and Deutsche Bank were two of the featured cash buyers on the Comex. This is was no surprise to MIDAS as our Cafe sources told us to expect the STALKER to show up in a big way this week.

From MIDAS commentaries last week:

9/7

On a more positive note, our STALKER source has a hunch the mother STALKER (Chinese) could represent something like the major gold trading exchange in Shanghai and the new mini-STALKERS might represent smaller exchanges being set up in Nanking, Peking, etc. As you will see below, the Chinese are going all out to open up their gold market to the Chinese public. All of these exchanges will need bullion on hand to get their businesses started. Our source believes part of this $1.5 billion dollar tranche of gold they will soon be in the market to buy will go for this purpose.

9/9

Another positive is that these liquidations aren’t getting the bad guys very far. The cash market is just too strong. Years ago The Gold Cartel would take gold down $30 off its highs on a break like this. Not happening these days.

Look for strong physical market buying to come out of Hong Kong any day now.

9/10

My bet is the physical market is going to give them fits and overpower them as September rolls on.

***

The STALKER knows The Gold Cartel’s routine full well. It makes no sense for them to bid up gold in size during thinner market conditions in Asia when they know the cabal is going to do all they can to take gold down during the Comex trading hours. It makes sense to place various orders with their buyers in New York to take advantage of cabal predictability and the heavier trading volume. I confirmed this with my STALKER source who agreed, adding only the orders were coming out of Shanghai, not Hong Kong as previously mentioned by me.

Do we know for sure it was The STALKER out there? No, won’t know that for a period of time to come, however, it fits the script perfectly.

The gold open interest fell a sizeable 5,660 contracts to 242,258. Not only was the cabal capping gold above $402 on Friday, the specs were continuing to run for the hills, taking advantage of the rally to exit their positions.

Silver led today’s turnaround, actually reversing before gold did. The past couple of sessions I mentioned that silver was SOLD OUT. That was 95% on the money - thus far. However, this morning the Mann Fund continued what liquidation it had left to do and silver dropped 8 cents in the early going. Morgan Stanley, staunch silver bulls at these prices, was the featured buyer once again.

The silver open interest also shrank, dropping 350 contracts to 82,263.

The gold base continues to build and build:

December gold
http://futures.tradingcharts.com/chart/GD/C4

Sold out December silver
http://futures.tradingcharts.com/chart/SV/C4

Now to some bigger picture stuff - most of this commentary was written on Saturday.

What we know about the gold market is that it is the least transparent market in the world. Little about it is honest and forthright. For example, the IMF instructs its central banking members to record gold loans/swaps (bullion which has left their vaults) as gold reserves to deceive the public. GATA’s work reveals those loans and swaps to be around 16,000 tonnes. Therefore, the gold reserve statistics are meaningless as the central banks only have half the gold they say they have. The official gold stats are a ruse. The world’s largest gold holder, the United States, has not allowed an independent audit of its gold reserves in 50 years. No one really knows how much gold the US still has and where it is located. It is widely rumored (by people who have been on the premises) that there isn’t any gold left in Fort Knox, for example.

In recent years the Germans and others have been called on to publicly talk about selling gold as prices were beginning to bubble. Since there is little transparency in the gold market, just talk of central banks selling gold has adversely affected the price in the past. After all, anyone who knows this market understands it has been central bank selling the past 8 years which has been the main price suppressant.

The following Reuters report was circulated on Saturday, which fits right in with The Gold Cartel’s pattern of attempting to talk down the price:

11 Sep 2004 14:16

Dutch to sell 150 tonnes of gold in coming years

SCHEVENINGEN, Netherlands, Sept 11 (Reuters) - The Dutch central bank plans to sell 100 tonnes of gold under the new five-year gold sale agreement that takes effect in September plus sell 50 tonnes left from the previous agreement, the bank's governor Nout Wellink said on Saturday.

"The sale will be slotted into (the schedule). There is an annual tonnage for all countries in the gold agreement, and we talk about it together how to sell it, so there is some flexibility there," he told Reuters on the sidelines of the informal meetings of finance ministers and central bankers here.

"Under the old (gold sales) agreement we still have 50 tonnes to go, and that is the first thing we will do. It doesn't really matter to us when we do it. We are flexible, and so are the others."

Central banks have been shedding gold, once a mainstay of their reserve assets, in favour of hard currencies as gold's status as a store of value has declined.

European central banks in March announced a new agreement to sell 500 metric tonnes of gold per year over the next five years, up from the expiring pact to limit their sales to 400 tonnes. But financial markets have been anxious to know how much each central bank would sell and when.

Separately, Italy's central bank chief Antonio Fazio said he would make his position known soon. The Bank of Italy has not sold gold from its reserves since the fascist period.

"We will say something in Washington," he said. Italy will be attending the IMF annual meeting in Washington in early October where central bankers are planning to provide more details on gold sales.

((Reporting by Wendel Broere; Editing by Peter Nielsen; wendel.broere@reuters.com; Reuters Messaging: wendel.broere.reuters.com@reuters.net; +31 20 504-5012))

-END-

With the Argentina central bank buying news and the UBS report suggesting central banks might only sale 250 tonnes per year, not 500 tonnes, the central banks were losing their perception war; i.e. that they can’t keep the gold price down much longer via their dumping. Thus, the Dutch were trotted out this weekend, as the Germans have been used the past couple of years to do a little influence peddling.

Is this important news and should it affect the gold price in the weeks to come? Not the way I see it. The Dutch gold sale talk is much ado about nothing, while the real gold story remains untold. If anything, this sort of announcement reveals a degree of desperation from The Gold Cartel and mainstream banking world allies. Why:

*As stated, the Dutch gold sales will be slotted under the terms of the new Washington Agreement for various European banks to sell no more than 500 tonnes per year. Their sale is already accounted for by market participants.

*Curiously, the Dutch say they still have 50 tonnes to go under the old agreement. The most likely reason why is the signatories to the agreement were surprised when Portugal had 35 tonnes called away due to prior options commitments in May of this year. Under the terms of the agreement, somebody had to back off on their selling, leaving the Dutch as the ones to hold back.

*The following link shows official central bank gold disbursements over the past few years:

http://www.thebulliondesk.com/…ChangeslatestJuly2004.pdf

What stands out is the Swiss selling of around 25 tonnes per month over this entire period. This totals approximately 300 tonnes per year. Years ago the Swiss announced they were going to sell half their gold holdings, or 1200 tonnes. The Swiss now have very little left to sell and their sales program will end in the very near future. Somebody else is urgently needed to take their place, just to have enough gold for sale to meet the 400 tonne per year amount under the old agreement. The Dutch announcement of a 100 tonne sale will only replace 4 months of Swiss selling when it ends. It is a trifle compared with the 1500 tonnes of central bank selling/lending/swapping needed per year to keep the gold price from rising.

*Italy says it will announce its intentions upon the official signing of the new Washington Agreement. If no one else announces plans for future gold sales, the Italians had better come up with a whopping number of 1,000 or 1,500 tonnes for planned gold sales. Either that, or we should hear from some other country intending to do so. The real question regarding Italy’s gold is how much has already been lent out, and is in effect ALREADY gone.

*The real gold story is still not being told and is kept behind closed doors in the central banking world. Gold demand exceeds supply by some 1500 tonnes per year. The new central bank agreement will only account for enough gold to meet 1/3 of this deficit. Therefore, central banks must deceptively lend, or swap out, 1,000 tonnes of gold to keep the gold price from rising. They desperately need THAT supply to ration demand.

*It is this surreptitiously mobilized gold which GATA has identified The Gold Cartel has been using to suppress the price. Portugal is a prime example. When you look up their official gold holdings, it shows a 482.3 tonne number. However, this is false as revealed in the Sprott Special Report and in prior MIDAS commentaries. The Portuguese only have a maximum of 173 tonnes left in their vaults.

The rest has been lent out, GONE!

Official gold holdings

http://www.thebulliondesk.com/…ldHoldingsJuly%202004.pdf

We say gone because the supply/demand deficit is already so severe that if the Portuguese were to attempt to retrieve 300 plus tonnes of gold to replenish their "official" amount of reserves, it would send the gold price soaring. 300 tonnes represents 12% of gold mine supply and 60% of the new Washington Agreement yearly total.

*The most important question to be answered by the gold world is who is doing all this lending in addition to the Portuguese? Unfortunately, it is a question they will never answer – that is until the gold market blows up and answers are demanded by various authorities.

One other point. We are fairly sure the Portuguese had gold "called" away from them due to long-term written call agreements. If other signatories to the Washington Agreement suffer the same fate, it will restrict the amount of gold others may sell as occurred with the Portuguese/Dutch this year.

***

This brings us back to the recent UBS gold report which states these signatories may only sell 250 tonnes per year, not 500 as previously expected. When you realize it was the Swiss selling 60% of the allotted Washington Agreement gold the past few years, you can understand why UBS said what they did. Then, of course, we are very likely to learn there are other central banks out there, like the Argentineans, who want to build their gold reserves in the years to come.

Bottom line:

The key to the gold market is the undisclosed gold/lending swapping pool, NOT the 500 tonnes per year slated to be sold under the terms of the new Washington Agreement. If this number is 16,000+ tonnes plus as GATA suspects, the nefarious Gold Cartel scheme to keep gold prices down is about to end. They will be hitting the wall soon and just won’t have enough supply available to carry on. To appreciate the magnitude of the problem The Gold Cartel is facing, subtract 16,000 tonnes of official gold holdings from the 31,000+ tonnes listed from various specific countries. You will then appreciate how little wiggle room the bad guys have left and how enormous their problem is since there is a 1500 tonne YEARLY supply/demand deficit. What banks are going to lend another 1,000 tonnes next year to keep the price suppressed? How long can The Gold Cartel carry on with this deception? The longer The Gold Cartel shies away from a massive retreat, the more grandiose their eventual problem will be. The longer they wait, the higher the price of gold will need to go to ration what supply is left in the years to come.

On a side note, the BIS gold derivatives numbers as of July 1 of this year will be announced in the months to come. These numbers are very important as they prove the GATA camp, including Sprott Asset Management, is correct and the gold establishment world is purposely deceiving the investing public. How do we know that:

*(From the Sprott Report, page 25) "For the fourth quarter of 2001, GFMS (Gold Fields Mineral Services) reported that the delta-adjusted hedge book stood at 2924 tonnes. At this point, the notional value of gold derivatives reported to the BIS was $231 billion. However, as of December 31, 2003, the BIS reports gold derivatives of $344 billion. Producer hedging, meanwhile, declined from 2001 to reach 2166 tonnes at year-end 2003.

The gold establishment world (GFMA and World Gold Council) does not account for any gold lending other than to gold producers. A chimpanzee taking a quick glance at the BIS derivatives number would know this cannot be; is disingenuous; and one of intentional gross negligence. Over a two-year period the BIS gold derivatives number went up by around 50%, while the official hedging numbers dropped by around 25%. The only logical explanation is this surge in gold derivatives was related to undisclosed gold mobilization activity to suppress the price.

The fact that GFMS and the World Gold Council refuse to deal with this blatant contradiction reveals the degree of a lack of intellectual integrity on their part. Both of these organizations have hurt gold investors, gold shareholders and the poor people of sub-Saharan gold producing countries to an incalculable degree. Both of these disgraceful operations should be disbanded. Any gold corporation or public company supporting either one of these organizations should be ashamed of themselves for contributing to a shallow hoax!

JUST IN:

Italy cenbank says no plans to sell gold reserves

ROME, Sept 13 (Reuters) -

The Bank of Italy said in a statement on Monday it had no plans to sell its gold reserves.

Zitat

"The Bank of Italy ... has not spoken of this matter, nor does any plan of this type exist," it said in a statement.

Central banks have been shedding gold, once a mainstay of their reserve assets, in favour of hard currencies as gold's status as a store of value has declined.

The Dutch central bank on Saturday said it would sell 100 tonnes of gold under the new 5-year gold sale agreement that takes effect in September plus sell 50 tonnes left from a previous agreement. ((Rome newsroom, +39 06 8522 4350, fax +39 06 854 0568))

-END-

That is HUGE news and HUGELY positive for the gold price. Seems more and more like the Saturday story was a plant to scare specs and give the bad guys a chance to do a little more covering.

[Blockierte Grafik: http://www.goldseek.com/news/LemetropoleCafe/lmpc.jpg]

http://www.lemetropolecafe.com

The John Brimelow Report

Bears getting worried?

Monday, September 13, 2004

Indian ex-duty premiums: AM $7.44, PM $7.53, with world gold at $401.30 and $400.60. Very high; lavish for legal imports. The rupee reached a two-month high this afternoon, and the Bombay stock market closed at the highest level since the advent of the leftish Congress government in May. India is clearly lending powerful support to world gold at present prices.

The other Eastern physical markets seem supportive also. Dubai premiums (as derived from Standard London’s website) were on the high side today, and the various grades of gold on the Shanghai Gold Exchange (if they are to be trusted) appear to be at $1+ premiums. (Shanghai updating has been erratic recently.)

TOCOM is not interested. Volume fell yet again, by 24% to the equivalent of only 10,090 Comex lots, the active contract closed down 3 yen, and world gold fell 55c from the NY close. Open interest fell the equivalent of 979 Comex lots to equal only 87,752 Comex. (In NY on Friday, gold traded 39,512 contracts; open interest fell 5,660 to 242,258 lots.)

While sufficient selling was forthcoming on Friday to hold gold down below the $401.60 spot 200-day moving average, several observers acknowledge robust physical off take. JP Morgan’s "Metals & Energy Strategist" has become sufficiently worried to cover half their short:

"The market saw follow-through selling to 395 on the break of 401/00, but has seen a strong bounce from there. Essentially we remain trapped in a 390 to 415 channel and a break of channel support is needed to confirm our bearish outlook for a move to 365/355."

The CFTC data indicates that the liquidation swing is well advanced. Open interest is down some 30,000 contracts since August 25 (93.3 tonnes), about half way between recent extremes. Friday’s appreciable open interest drop on a slightly firmer price might suggest shorts (beyond JP Morgan) have started to cover.

Saturday’s Dutch announcement of further gold sales, even when combined with the strong hint of Italian sales also, does not really comprise news: only if the Washington Accords are to be exceeded will the market be impressed. But it is interesting that the Dutch intend to carry over to WA2 50 tonnes they failed to sell in the previous phase of the Washington Accord: suggesting that at least the Portuguese disposals were not planned for, and may well have been the denouement of ill judged call sales.

Initiative is steadily passing out of the paws of the Bears; although Barclays is quite right to wonder if

"Friday’s rebound is sufficient to stave off recent selling pressure."

JB

[Blockierte Grafik: http://www.goldseek.com/news/LemetropoleCafe/lmpc.jpg]

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CARTEL CAPITULATION WATCH

Let’s hear it for a free press in Canada and in the US and for our democratic ways! What a joke! The Sprott Special Report on gold has been out for over 3 weeks. It was not covered responsibly by one financial journalist in either country.

The DOW ran out of steam, only gaining 3 to 10,316. The DOG rose again, climbing 16 to 1910.

14:01 Treasury budget ($41.1B) in August vs consensus of ($40.0B)
The deficit in August 2003 was ($76.6B).
* * * * *

From The King Report on the massaging of US economic data:

Few people believe the August PPI. It fell 0.2% due to a 5% drop in gasoline prices. The US government bean counters would have us believe that gasoline prices fell in both July and August. Gasoline futures closed on 6/30/04 at 109.25. They closed at 113.92 on 8/31/04. But the charade is even worse than that. On 8/20/04 gasoline futures hit 133.10. They then collapsed. Normally BLS samples for gasoline prices between the 10th and 14th of the month. But it’s uncanny how BLS appears to ‘sample’ on days when prices collapse. Furthermore, this type of analysis provides faulty cost data because it does not reveal where the volume of transactions trade. During the first three weeks on the month, there could’ve been 3x or more volume of trade than in the last week to week and a half. CPI and PPI, or cost of living data, should be calculated using a ‘Volume Weighted Average’ (i.e. VWAP) like daily stock prices.

PPI showed that pipeline inflationary pressures continue to appear as the core crude and core intermediate indices rose by 4.5% and 1.0%, respectively. However, due to some miracle, quarters of similar price pressure never manifest itself in PPI. Of course PPI could not be calculated two different times this year.

-END-

GATA’s Mike Bolser:

Hi Bill:

The Fed added $6 Billion in temporary repurchase agreements today, September 13th 2004, an action that pushed the repo pool back up to $59.814 Billion and kept the pool's 30-day moving average turning higher. The pool's ma is setting new records since I began the series. The DOW seems to be slowly responding as its own 30-day ma is inching back up from the recent low.

The DOW is flat so far with gold dipping a bit and the dollar up a bit. A flat DIVG is apparently in the cards for the next few days affording more opportunity to acquire bullion.

The geopolitical situation spins seemingly out of all sense of control. As the stories below indicate, our allies in the "War on Terror", Turkey and The Russian Federation are angry at US actions. And today brings the stark news that a nuke-sized explosion has occurred in Northern North Korea. The mushroom cloud was reported to be 3.5 to 4 kilometers in diameter. While denying it was a nuke, the US authorities failed to indicate what kind of explosion could deliver such a massive cloud. Moreover, the reported twin concussions are a characteristic signature of efficient nuclear detonations according to Theodore Taylor, the grandfather of the miniaturization of the bomb (The Curve of Binding Energy, John McPhee 1975).

The latest gaffe by the US in Iraq:

Turkey reacts with fury to massive US assault on northern Iraqi city

By Patrick Cockburn in Baghdad

12 September 2004

http://news.independent.co.uk/…st/story.jsp?story=560815

The US military assault on Tal Afar, an ethnically Turkmen city in northern Iraq, has provoked a furious reaction from the Turkish government which is demanding the US call off the attack.
+++++++++++++++++++++++++++

As reported last week the events surrounding the Beslan atrocity have profound implications. Vladimir Putin is very angry at the US for harboring a rebel Chechen minister and at Tony Blair for giving asylum to a Chechen terrorist envoy. He calls it what it is...a double standard in Bush's "War on Terror":

http://asia.news.yahoo.com/040911/ap/d851ja1o0.html

"The differences in assessing the Beslan events could lead to the most serious estrangement between Russia and the West since the Soviet times," said Fyodor Lukyanov, the editor of Russia in Global Affairs magazine.
++++++++++++++

And more about China's growing SPR petroleum project:

China to start filling oil reserves next year

http://www.dailytimes.com.pk/def...004_pg5_27

SYDNEY: China, the world¹s second-biggest oil consumer, may begin filling a strategic oil stockpile in the next year as demand at home surges and concerns mount over global supply disruptions, a senior government official said on Monday.
Zhou Dadi, director general of the Energy Research Institute, said China would initially store enough oil to meet demand for 20 days before increasing the stockpile further. ³We are building storage facilities right now ... Within the next year could be a starting point to fill the storage step by step,² Zhou told Reuters on the sidelines of the World Energy
Congress in Sydney.

+++++++++++++++++++++++

And a snap shot of the Sudan/Darfur/oil link:

UN Darfur vote turns scramble for Sudan's oil

http://www.afrol.com/articles/13921?

afrol News, 10 September -

As the UN Security Council is debating a US draft resolution on the Sudan crisis, based on colliding views whether a genocide is or is not happening in Darfur, the issue of Sudan's oil is becoming a key factor. If an oil export embargo is approved, China and India would lose their influence over Sudan's vast oil reserves and a Khartoum regime change would open up these resources to the West. The US is in favour of sanctions, China is against.

The population of Darfur is presently, as the UN puts it, suffering from "the world's worst humanitarian crisis." It is well documented that the Khartoum government bares much of the responsibility for this immense suffering, which the UN calls "ethnic cleansing" and the US yesterday called "genocide". It is however also well documented that the US through its closest African allies, helped train the SLA and JEM Darfuri rebels that initiated Khartoum's violent reaction, as afrol News reported on Tuesday.

++++++++++++++++++++++++++++

Required reading about the number TWO strategic commodity:

Blood and Oil, Klare
Oil: Anatomy of an Industry, Yeomans
And the lucid SFGate.com review:

http://www.sfgate.com/cgi-bin/…004/09/12/RVG488IK0Q1.DTL

++++++++++++++++++++++++++++++++

I follow these geopolitical and energy developments because they are a window into the Gold War cooperation status of the involved sovereigns. Any one of a number of unhappy nations (Saudi Arabia, Russia, Mexico, Venezuela, France) can decide to break the US gold position by bidding for all the remaining warehouse bullion. This is the event that the Fed dreads for it will trigger their draconian response...to halt trading of gold in order to preserve what little remains. Richard Nixon faced a similar decision in 1971 when he was forced to remove the dollar's gold guarantee and commit the largest default in financial history.

It is only a matter of time.

Mike

It is not only the smaller gold stocks who are receiving scant attention from the investing public:

Bill,

If I can recap what I noticed today, compared to a year ago, weekly NYSE volume (as reported in Barron's) is down by an insignificant 5.8%. Small Cap volume, however, has plunged 73.9%!!! The amazing disconnect between reality and what is reported continues as Reuters has just released an article titled, "Small Stocks Lead the Way on Wall Street."

http://story.news.yahoo.com/ne…=story&cid=580&e=1&u=/nm/
20040911/bs_nm/stocks_week_dc.

It seems to me that the Fed/Administration cannot tolerate a plunging small cap market any more than they can allow a soaring gold price before the election. How many repos would it take to support the Russell 2000 or Wilshire 5000 index to keep it from plunging?

Dollarwise, probably not much. This also satisfies the many owners of Mutual Funds (which I consider a variety of derivative since they derive their NAV from listed stock prices or index values, even if hardly any trades actually take place), who are presumably primed to vote Bush.

In any case, for some reason liquidity has seriously dried up in the small cap sector, and that includes resource stocks.

Best wishes,

Peter R.

On the lighter side:

Anglo-Saxon gold penny could sell for £150,000

By Tim Walker
The Independent, London
Saturday, September 11, 2004

http://news.independent.co.uk/…in/story.jsp?story=560543

A man walking his dog has discovered an Anglo-Saxon gold penny worth up to £150,000. The coin was struck during the reign of King Coenwulf between 796 and 821, on the banks of the river Ivel in Bedfordshire.

The find is likely to provoke keen bidding when it is auctioned in London next month. Though many similar examples survive from the period, the heyday of the Anglo-Saxon kingdom of Mercia, the Ivel coin is the first gold penny found with Coenwulf's portrait.

The dog-walker, and the landowner on whose property the coin was found, are being kept secret. Richard Bishop, a coin specialist at Spink, the London auction house, said: "Even if it were silver, the penny would be very exciting due to its good condition and the quality of the portrait. In gold, it's just unbelievable."

The record price tag for a British gold penny is £149,500 in 1996, for a coin from the reign of Henry III.

-END-

Feedback about The Las Vegas Gold Show from a staunch GATA supporter:

Good evening Bill -

I just got back from the Las Vegas Gold Conference, having left disappointed and frustrated. I thought that the Sprott Report would have made an enormous impact on the gold-bugs in attendance as well as (especially, in fact) the guest speakers.

Turns out, of all the lectures I attended, only Jay Taylor spoke of the Sprott Report, GATA, the suppression of the POG. No attendees spoke of Sprott, at least none that I encountered. No one complained about gold being held back.

The speakers were by and large underinformed. All of them said not to look for a great surge forward in metals for a couple of years. (In Pam Aden's defense, I missed her talk so she may have been an exception. And of course Jay Taylor was an exception, being leaps and bounds ahead of the rest of those monkeys)….

I was thinking to myself at dinner what a waste of money the trip to this conference was, and that I wished I could express my thoughts to someone in charge. This will knock your socks off: in the elevator, a well-dressed gentleman regarded my name badge and said, "You attended the conference; good for you."

And I answered: "Yes, well I'm very disappointed. No one even mentioned the Sprott Report and how it lent credence to GATA claims. What idiots."

"Well," he said, "I know the price of gold has been suppressed."

"You do? No kidding! Good for you!"

"We organized this conference," he added, not expounding who 'we' were.

"Ah, no wonder you're informed. So tell me, what could be more important to a room full of gold-bugs than the suppression of the price of gold?" By this time I was holding the elevator door open, as we'd stopped at his floor. "Tell those speakers for me that they're a bunch of lamebrains, except for Jay Taylor."

"I like Jay Taylor, too," he said. And he exited the elevator. I couldn't believe my luck. Sort of in line with 'ask and you will receive.' I had the chance to vent my anger, and I believe I made an impact on the man, who spoke with a British accent and was quite gentlemanly.

All best,

Marilyn A. Guinnane

To those of you who have contacted your gold companies, thanks so much and well done. For those who have done nothing, well, go ahead let life go by.

Following is a response from a mid-tier gold producer which will give you some idea how pitiful these gold companies are about tackling the most important issue in their industry and why the price of gold is where it is as we go into the fall of 2004.

Hello Bill. After two weeks of trying, the only response I received back regarding Embry report was from this gold company:

I am answering your letter on behalf of our President and Chief Executive Officer. We at xyz gold corporation have known Mr. Embry personally for many years and hold him in the highest esteem. If you read his paper, you will see that he does not really accuse anyone of a conspiracy but does contend that central banks will use any means necessary to control the gold price. Although this not in the best interests of gold producers, it is entirely within their mandate. The prime function of central banks is to regulate their respective currencies. We as gold producers may not like it, but we are probably going to experience some attempts at manipulation for the foreseeable future. It is our belief, however, that the underlying fundamentals of the gold market are so strong that they are unlikely to succeed.

Mike

Vice President, Investor Relations

XYZ Gold Corporation

Repeated attempts to reach WHT, GSS, AEM, EGO, CBJ have been ignored. Keep up the good work……

I'm even more disappointed that the only other response was from WHT saying Ian will be forwarded my message. They're all running scared for some reason. There's got to be more to it. I'm going to resend my message to them daily and become a pain in their ass!

Just started asking them about World Gold Council involvement.

Steve Heggy

Some thoughts:

That is pathetic. Central banks (plural) using any means to control the price is not a conspiracy? Is this guy who responded to Steve retarded? These central banks are going through bullion banks that have knowledge of the price manipulation which the general public does not. That is against American anti-trust laws as The Gold Cartel forces made hundreds and hundreds of millions of dollars over the years on inside information the rest of us were not privy too.

There is NO MORE IMPORTANT ISSUE to gold shareholders than what the price of gold is. What is the matter with these deadbeats? All the gold industry has to do is to START TALKING about these issues with the press; start asking for answers to the many questions posed by Sprott and GATA, and The Gold Cartel would begin to squirm big time. The pressure needs to be put on the cabal and it is the gold producers who must do it. Certainly all World Gold Council gold producer members should answer the devastating charges made against the WGC by GATA about their disingenuous presentation of the BIS numbers vis-à-vis the gold producer hedge reductions.

Oh good grief, here is another pathetic response from a mid-tier gold producer sent to us by Steve Heggy.

There is no comment to your question at this time Steve. Those who analyze the industry clearly have many views. ZXY Gold Corporation believes we are in a period of rising gold prices continuing into next year.
Thank you,

Manager, Investor Relations

ZXY Gold Corporation

Think of all the work GATA has done in an attempt to help these people over the years, and of all the work the Sprott people put in to make their case, and THIS is the best a gold company can come up with?? It is revolting.

I would hope every Café member who is a Golden Star Resources shareholder has, or will contact GSS management about all of these issues presented by the Sprott/GATA camp. Whatever GSS eventually does is their business, however, we all should demand reasoned answers to our questions and requests for information. To say nothing, or respond like the twits did above, is completely unacceptable.

Golden Star contacts:

CFO Alan Marter at Amarter@gsr.com

Alan or CEO Peter Bradford at 1 800 553 8435

More evidence gold mine supply will wane next year even as world gold demand picks up:

TORONTO, Sept 13 (Reuters) - Gold miner Cambior Inc. (CBJ.TO: Quote, Profile, Research) on Monday said it expects gold production will decrease over the next four years and said it will cut 130 jobs as part of a reorganization at its Doyon mine in Quebec.

The Quebec-based miner, which also has operations in South America, said total production would decrease from 705,000 ounces this year to 663,000 ounces in 2005.

In 2006, Cambior projected gold production would dip further to 570,000 ounces before picking up again in 2007 and 2008 to an estimated 660,000 ounces each of those years.

-END-

Some additional dirt on the Daughters of Gwalia fiasco:

Bill,

i said i would try and find out something about Sons of Gwalia through a local source. The source belongs to a large contracting family which is involved in alot of open cut and mine operations in W. Aust. His suggestion is that S.O.G. realised they were low on large cheaply accessable gold reserves a couple of years ago and in a rash decision paid far too much for the gold assets of a company called Pacmin. S.O.G. appears not to have followed due diligence in the decision and got very expensive to access gold assets, the cost of producing it being far greater than the $600/oz revenue they were receiving. –END-

Before I close this MIDAS. I would like to emphasize that if The Gold Cartel was a defendant in a cirumstantial capital murder case as charged by GATA, a jury of their peers would condemn them to death by virtue of their guilt by beyond a reasonable doubt. However this one particular piece of evidence goes beyond the cirumstantial category:
*(From the Sprott Report, page 25) "For the fourth quarter of 2001, GFMS (Gold Fields Mineral Services) reported that the delta-adjusted hedge book stood at 2924 tonnes. At this point, the notional value of gold derivatives reported to the BIS was $231 billion. However, as of December 31, 2003, the BIS reports gold derivatives of $344 billion. Producer hedging, meanwhile, declined from 2001 to reach 2166 tonnes at year-end 2003. ***

Those FACTS reveal black and white evidence which disclosed the clandestine activities of The Gold Cartel behind the scenes. Every gold financial market reporter or gold producer CEO worth their salt should want to know how this can be? Every gold shareholder should demand that their respective CEO's answer that question!!!

The gold shares continue to meander around. The XAU only gained .27 to 93.02, while the HUI backed off of trendline resistance once more to finish up a modest .96 to 204.03.

Gold and silver share investments remain THE historic investments of a lifetime and few seem to notice or care.

GATA BE IN IT TO WIN IT!

MIDAS