Habt ihr den schon gelesen ?
Posted 11/14/2005 11:11 PM
A 'fiscal hurricane' on the horizon
By Richard Wolf, USA TODAY
Sadly, it's no laughing matter. To hear Walker, the nation's top auditor, tell it, the United States can be likened to Rome before the fall of the empire. Its financial condition is "worse than advertised," he says. It has a "broken business model." It faces deficits in its budget, its balance of payments, its savings — and its leadership....more 
Interssant.
Das sind Aussichten!
Irgendwann bis dahin ist der Tollar vollständig "im Eimer":
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Without major spending cuts, tax increases or both, the national debt will grow more than $3 trillion through 2010, to $11.2 trillion 
— nearly $38,000 for every man, woman and child. The interest alone would cost $561 billion in 2010, the same as the Pentagon.
From the political left and right, budget watchdogs are warning of fiscal trouble:
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Und das ohne Bernanke - Effekte.
Let it snow $$$$ ..... Mr. Snow 
Bis der Ast bricht !
Das wollen wir mal in den nächsten Tagen verfolgen!
Goldkonzerne investieren wieder kräftig in die Exploration
Experten prognostizieren weiteren Preisanstieg
New York - Das 17-Jahres-Hoch beim Goldpreis läßt führende Goldproduzenten nach neuen Vorkommen suchen. Nachdem die Bergbaukonzerne fünf Jahre lang kaum Geld investiert haben, stecken sie in diesem Jahr geschätzt 2,29 Mrd. Dollar (1,95 Mrd. Euro) in die Exploration. Das sind 29 Prozent mehr als 2004, berichtet das kanadische Marktforschungsunternehmen Metals Economics Group.
Durch den jahrzehntelangen Abbau sind die Vorkommen in den Goldminen Südafrikas, Australiens und der USA fast erschöpft. "Wir haben deshalb begonnen, in neuen Regionen nach Gold Ausschau zu halten - etwa in Südostasien, in Teilen Afrikas sowie in Rußland und China", sagt Richard Duffy, Leiter Business Development bei AngloGold in Johannesburg. "Es geht darum, sich alle Möglichkeiten offen zu halten." AngloGold ist nach Fördervolumen der zweitgrößte Goldproduzent weltweit.
Seit Jahresbeginn ist der Goldpreis fünf Prozent gestiegen. Zuletzt kostete die Unze Gold in London gut 480 Dollar. Das ist der höchste Preis seit Januar 1988. Der Rekord-Ölpreis hat Anleger dazu veranlaßt, das Edelmetall als Inflationsabsicherung zu kaufen. Auch durch den Wertverlust des US-Dollar gegenüber den 16 weltweit wichtigsten Währungen, hat Gold als Anlagemedium wieder an Bedeutung gewonnen.
Im vergangenen Jahr haben die Bergbaukonzerne so wenig Gold gefördert wie seit den 40er Jahren nicht mehr. Auch in der ersten Jahreshälfte 2005 war das Produktionsvolumen mit 1172 Tonnen wenig verändert, wie das Londoner Marktforschungsunternehmen GFMS mitteilt.
Goldproduzenten "halten nun in Regionen Ausschau, in denen bislang noch nicht gefördert wurde", so Jason Goulden, Direktor für Explorationsforschung bei der Metals Economics Group. Newport Mining, der weltgrößte Goldproduzent mit Sitz in Denver, dürfte seine Explorationsausgaben von 132 Mio. Dollar im Jahr 2004 auf bis zu 220 Mio. Dollar in diesem Jahr ausweiten. AngloGold wird 80 Mio. Dollar ausgeben, dies ist die höchste Summe seit 2001. Randgold, ansässig in Jersey, wird in diesem Jahr 23 Mio. Dollar für die Exploration aufwenden gegenüber 15,5 Mio. im Vorjahr. Der Konzern fördert in Burkina Faso, im Senegal, in Ghana und in Tansania und eröffnete am Samstag eine zweite Mine in Mali.
Der hohe Goldpreis läßt die Konzerne auch verstärkt nach Übernahmezielen Ausschau halten. Barrick Gold gab Ende Oktober ein Angebot im Volumen von 9,2 Mrd. für den kanadischen Goldproduzenten Placer Dome ab. Insgesamt wurden 2005 in der Branche Fusionen und Übernahmen im Volumen von 11,5 Mrd. Dollar getätigt. Das ist mehr als doppelt so viel wie 2004.
Selbst exotische Lagerstätten werden auf einmal lukrativ. So haben Geologen von Freeport-McMoRan Copper & Gold bereits im Jahr 1988 ein großes Goldvorkommen entdeckt. Die Grasberg-Mine in Indonesien liegt unter einem Gletscher in 4268 Meter Höhe und birgt das weltgrößte Vorkommen mit 46 Mio. Unzen Gold. "Bei einem Goldpreis um 300 Dollar je Feinunze, ist es finanzieller Wahnsinn, Gold zu fördern", sagte Graham Birch, Fondsmanager und Rohstoffspezialist bei Merrill Lynch Investment. "Bei dem derzeitigen Goldpreis machen die Exploration und der Aufbau einer Mine mehr Sinn." Bis 2010 prognostiziert Birch sogar einen Goldpreis von 725 Dollar je Feinunze. Bloomberg
Quelle: Die Welt, 15. November 2005
Why strong central banks fall over themselves to sell gold
Norris gleefully reports that the Swiss National Bank has also joined the "let's junk gold" contest. He mockingly adds that the Swiss defection is not unlike Rome embracing Protestantism. Of course, he fails to mention that the Swiss were put under duress: Paul A. Volcker was dispatched to Zürich to twist their arm. Even so, I concede that an explanation is in order. When a weak central bank is selling gold to meet its maturing liabilities, it is acting logically. It is using gold to maintain its credit standing. That is what gold is for. But when strong central banks, such as the Swiss National Bank and the Bank of England are falling over themselves to sell monetary gold from reserves under the full glare of publicity, knowing that the inevitable result of the fanfare will be the worst sales price for the asset on the block, then logic is turned upside down. The lame explanation that gold sales are designed to raise funds to perform good deeds is for simpletons only. If the motif were really charity, then there would be all the more reason to cut out glare and fanfare, lest the trustees open themselves to charges of unfaithful stewardship. We are fully justified in looking for a hidden agenda. I do not pretend to know the real reason for this "negative gold rush". I can only speculate: central banks are desperately trying to prevent a melt-down threatening the financial system. This crisis is largely unknown to the public, even though it is potentially more damaging than any previous one in the 20th century. It has to do with "naked" selling of call options on gold bullion and other forms of forward sales by banks. This activity has been officially encouraged by government as a way to finance the stock market and real estate bubble, the bursting of which would cause great damage to the world economy. Central bank gold sales are designed to bail out short interest in a futile effort to stave off a corner in gold.
more....
Russian Central Bank May Double Proportion of Gold Reserves
By Tim Wood
15 Nov 2005 at 08:43 AM EST
JOHANNESBURG (ResourceInvestor.com) -- Addressing delegates to the LBMA Precious Metals Conference on its last day, Russia's Head of External Reserves Management, Maria Guegina, said gold reserves as a proportion of all reserves may be doubled.
Noting that Russia presently has 5% of its national reserve portfolio invested in gold, Guegina said, “10% of gold in reserves would be appropriate”.
Sorry, Guten Morgen habe ich vergessen.
Gold deficit
Posted: Tue, 15 Nov 2005
[miningmx.com] -- GOLD production would decline over the next four years, according to a report by news service I-Net Bridge quoting DRDGOLD CEO, Mark Wellesley-Wood.
In the report, Wellesley-Wood said that even if the world's current crop of gold projects were developed, more were needed.
I-Net Bridge was quoting from DRDGOLD's latest investor newsletter which had been penned by Wellesley-Wood.
Under investment in gold projects during the gold price slump is largely regarded as the reason for the current dearth in new gold ounces.
"There are 29 new gold mines in the pipeline right now and even if all these are developed, it would require a further seven projects every year to make up the deficit," Wellesley-Wood said in the I-Net report.
"The reality is that not all these 29 mines will get the go-ahead as cost inflation, especially capital cost inflation for resources projects, has increased by a great deal more than the gold price. So where are the ounces going to come from," Wellesley-Wood said.
"Well, not from the traditional source - exploration. Expenditure on exploration peaked in gold mining in 1997, and has been pretty flat since then.
"Not only are the geologists not there (as most have gone off to look for oil, nickel, copper, etc) but the geological terrain is getting tougher with most of the known prospective ground having been searched by now," he said.
"Shares in junior mining and exploration companies are soaring. Next, the dehedging trend is set to continue. Who would want to be short gold in four years in this climate? Finally, merger and acquisition activity and industry consolidation will continue apace - if you can't find it, buy it."
Barrick, Glamis Lead Acquisition Search as Gold Output Falls
Likely Targets
The most attractive takeover targets are Bema Gold Corp., Eldorado Gold Corp. and Iamgold Corp., a Toronto-based producer involved in three failed mergers last year, Merrill Lynch & Co. analyst Mike Jalonen said in a Nov. 7 report.
Jalonen ``might be right,'' Iamgold Chief Executive Joseph Conway said in an interview. ``We have exploration projects that look quite good and continue to be growing. The question is, Who? Other intermediate producers, potentially. We continue all the time to try to engage companies that we've identified and look interesting that would either be a merger or takeover candidate.''
Shares of Vancouver-based Bema surged 9.7 percent last week, after Barrick announced its bid for Placer. Eldorado Gold, also based in Vancouver, jumped 11 percent. Eldorado spokeswoman Dawn Moss declined to comment.
Scarcity of Gold
Barrick's hostile bid for Placer ``highlights to the market the scarcity of gold in the ground,'' said Evy Hambro, who helps manage $12 billion of natural-resource funds at Merrill Lynch in London, including the $3.4 billion World Mining Fund. ``The gold industry today remains one of the most fragmented of commodity industries.''
World gold production fell 5 percent last year, as fabrication demand rose 5.7 percent, GFMS said.
more...
ZitatOriginal von Aladin
Sorry, Guten Morgen habe ich vergessen.
....zu sagen:
"Man soll den Tag nicht vor dem Abend loben." ![:]](https://goldseiten-forum.com/wcf/images/smilies/pleased.gif "Freude"){kind=small}
Moin ebenfalls
Das kennen wir, Edel Man
Der Tag faengt immer gut an in der letzten Zeit bis die Cabal kommen und es wieder regnet. 
Gruss, bei uns ist noch blauer Himmel.
XAX
Passte auch zum Thema Gold der Deutschen,
Sinclair in seiner Kolumne:
Hey, Germany, if you want to sell gold, which is doubtful, call, write or fax Maria Guegina director of External Reserves Management at 12 Neglinnaya Street, Moscow, 107016 Russia. Tel.: (095) 771 91 00; fax: (095) 921 64 65. Before that, however, you might want to look at this table of International Reserves assets1 of the Russian Federation in 2005.
Journalist Tim Wood, who recently attended a conference at which the director spoke, reported that she said it would be appropriate to “double” their gold reserves :)). So, as always when one central bank sells, another buys.
It is the usual character of the gold market that as prices appreciate and inflation is recognized as having morphed from monetary inflation to price inflation, the cash demand from investors swamps the paper gold trading of the speculators. This takes the price action away from the COMEX and COT and as I see it will this time transfer it to Asia .
morgen
Langschlaefer Goldy.....er arbeitet heute spaet, dafuer um so mehr
"Journalist Tim Wood, who recently attended a conference at which the director spoke, reported that she said it would be appropriate to “double” their gold reserves"
Merkwürdig, daß Wood dies berichtet. Er ist doch nach Bill Murphy und Bob Chapman ein Handlanger der Goldkabale.
Da gib ich Dir Recht Ulfur.
Aber eben umso besser!
Es ist nie zu spät, seine eigene Meinung zu ändern.
""Es ist nie zu spät, seine eigene Meinung zu ändern""
So etwa : "Die FED - Truppe und ihr Währungsgebäude 2006"
