Beiträge von ThaiGuru

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


    http://www.lemetropolecafe.com


    The John Brimelow Report


    Bridgewater on TIPS


    Thursday, May 06, 2004


    Indian ex-duty premiums: AM $ 9.89, PM $8.51, with world gold at $391.70 and $391.95. Ample for legal imports. Standard London today notes: "exceptional physical demand from the Indian sub- Continent", which, from a firm which actually does deal in India (unlike some others) is meaningful.


    Japan, re opening, traded the equivalent of 24,836 Comex lots, with open interest falling 673 Comex. World gold slipped 20c from the NY close, to $393.15. (NY traded 42,145 contracts yesterday: open interest rose 1,442 lots.)


    Persistent selling throughout the NY day yesterday capped gold. Then the tell- tale abrupt sell-off (some 2%) in the major gold shares in the last half hour of Stock Exchange activity warned experienced observers of today’s raid, which was entirely a US phenomenon. Notably, gold itself showed no inclination to weaken before today’s Comex open.


    HKSB has published a useful piece of research discussing the relationship between US interest rates and gold:


    Zitat

    "… plotting gold against the Fed Funds rate (both nominal and real) over the last twenty years shows virtually no correlation whatsoever."


    Furthermore:


    Zitat

    "In three out of the four occasions since the mid-1970s when US interest rates were increased after a period of relatively low rates, the dollar was lower rather than higher in the period following the move to higher rates."


    Even more comforting from a forward looking point of view was yesterday’s Treasury announcement of hugely increased TIPS offerings. Bridgewater comments:


    Zitat

    "On Wednesday, the US Treasury made a comprehensive announcement on their plans for the US TIPS market going forward. The plan is very aggressive…the US Treasury would like to see TIPS compete against real assets such as real estate and timber in institutional portfolios."


    and adds:


    Zitat

    "The rapid increase in the TIPS program comes at a time when inflation-indexed (I/I) bond markets around the world are also growing extremely rapidly… The increase in global supply and number of sovereign issuers has caused inflation-indexed bonds to evolve into a global asset class from what was a collection of largely independent sovereign markets a few years back."


    Needless, to say, the fact that the US Treasury judges the strong appetite for inflation-proofed securities is likely to be sufficiently sustainable to be worth responding to is an odd background for heavy NY pressure on gold.


    JB

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


    http://www.lemetropolecafe.com


    May 6 - Gold $387.80 down $5.40 - Silver $5.80 down 29 cents


    Orchestrated Gold Share Sell-off Yesterday Predicted Today’s Action


    Zitat

    "But actually, he thought as he re-adjusted the Ministry of Plenty's figures, it was not even a forgery. It was merely the substitution of one piece of nonsense for another. Most of the material that you were dealing with had no connexion with anything in the real world, not even the kind of connexion that is contained in a direct lie. Statistics were just as much a fantasy in their original version as in their rectified version. A great deal of the time you were expected to make them up out of your head. For example, the Ministry of Plenty's forecast has estimated the output of boots for the quarter at 145 million pairs. The actual output was given as sixty-two millions. Winston, however, in rewriting the forecast, marked the figure down to fifty-seven millions, so as to allow for the usual claim that the quota had been overfulfilled. In any case, sixty-two millions was no nearer the truth than fifty-seven millions, or than 145 millions. Very likely no boots had been produced at all. Likelier still, nobody knew how many had been produced, much less cared. All one knew was that every quarter astronomical numbers of boots were produced on paper, while perhaps half the population of Oceania went barefoot. And so it was with every class of recorded fact, great or small. Everything faded away into a shadow-world in which, finally, even the date of the year had become uncertain."George Orwell, Nineteen Eighty Four


    Dear Congressional Staff member (sometime in 2006 again):


    It’s a day later and you will be able to recognize (by what transpired the past 18 hours) how obvious and extensive the manipulation of the gold market really was. As noted in yesterday’s commentary the gold shares collapsed in the last 30 minutes for no apparent reason. The US stock market was quiet, as were all the financial markets. Only the gold shares were battered in a bout of program trading. What you need to do is find out who the major gold share sellers were and then tie them to a pattern over the years.


    The hardest core conspiracy theorists in the GATA camp emailed me last evening categorically stating gold was going to be mauled today by The Gold Cartel as a result of yesterday’s obnoxious ploy by this bunch of crooks. They were dead on, as usual. Once again the junta stole money from honest Americans. Clearly The Gold Cartel head maestro put out the late word yesterday to his colleagues in the cabal that gold was to be hit hard today, which is why Goldman Sachs was selling during the Comex session. This latest manipulation could be the second most blatant one after the Bank of England gold sale auction announcement in 1999. What we have here is nothing less than a criminal operation run by a bunch of white-collar thugs. They must be punished and some need to be put in jail. The Gold Anti-Trust Action Committee now has 7 plus years worth of evidence on these bums and will be happy to bring much of it to Washington to present to your investigating committee.


    I look forward to hearing from you.


    BILL MURPHY
    CHAIRMAN
    GOLD ANTI-TRUST ACTION COMMITTEE


    After The Gold Cartel trashed the shares yesterday, they went after gold and silver today. GOLDMAN SACHS was a featured seller once again this morning.


    Both gold and silver were pounded from the get-go and spent the day submerged. There was no bounce at all. Figuring out this market on a short-term basis has been brutal. I certainly am no help, not when you have a 500-pound gorilla who pushes both gold and silver wherever it wants and when it wants to. The gorilla seems to have a temper tantrum the worse it gets for the US economic, financial market and geopolitical scenes. Thus, the more gold should being going higher, the more the cabal takes it down, giving us the "Reverse Gold Barometer" effect.


    Tomorrow’s US jobs report should have the markets all over the place. No way I can predict how gold and silver are going to react. What I am very comfortable with is stating those who hang on to their physical and share positions are going to be very happy campers in six months.


    The funds joined Goldman Sachs' early selling lead, but then stopped after an hour with gold down $5 to $6. The cabal was looking to get more bang for their buck than they ended up with.


    The gold open interest rose 1442 contracts to 248,305, while the silver open interest rose 893 contracts to 94,059.


    A silver market update. The fundamental news is just as bullish as it was months ago. A prominent dealer now has to pay a 50 cent premium to obtain small lots. He used to pay 12 cents. Large buyers who want hallmarked bars from the refiners such as Engelhard and Johnson Matthey have to pay a hefty 32 cent premium. It is still difficult to accumulate silver in size.


    Silver has come right back to its 200-day moving average.


    The bond vigilantes are doing their thing, taking long rates up in the US because of the obvious growing inflation. The 30-year finished the day at 105 31/32, down 13/32, a new low for the move. The bond market is too big for the Working Group on Financial Markets and The Gold Cartel to control; therefore, it functions like a normal free market usually does. In the late 1970’s inflation was rampant in the US. Interest rates soared, the dollar was strong, and gold exploded. What has changed since then: The Gold Cartel, plain and simple.


    The dollar rose .59 to 90.09, while the euro fell .90 to 120.66.

    kalle14


    Zitat

    Da kommt noch ganz ,ganz Dicke wat auf uns zu!!!!!!!!!


    Aber wat den Kalle?


    Das ist die grosse Frage!


    Wenn ich wie heute (fast) sämmtliche Comodities nachgeben sehe, wenn die Börsen fast alle weltweit an Wert verlieren. Wenn Gold und Silber ebenfalls stark verlieren, Oel jedoch steigt, und der Dollar mit dazu, habe ich so ein komisches Gefühl im Magen, das mir sagt, irgend was kann da verdammt nochmal nicht mehr stimmen.


    Als ich heute die Meldungen zum Weltgeschehen, speziell auch die über Saudiarabien, gelesen habe, kam mir wieder einmal mehr in Erinnerung, dass W.Bush vor dem letzten Irak Einmarsch, vom Parlament verlangt hatte ihm militärisch freie Bahn gleich für mehrere arabische Länder zu gewähren, nicht nur für den Irak. Glücklicherweise wurde dieses Ansinnen vom US Parlament damals abgelehnt.


    Heute mehren sich aber die Zeichen, dass er eventuell schon bald das US Parlament wieder zu weitergehenden Ermächtigungen drängen könnte. Dazu braucht er aber, vorderhand wenigstens noch, wirklich handfeste Gründe. Die hat er noch nicht. Doch ich glaube er arbeitet gerade daran sie zu schaffen.


    Ich befürchte, dass falls er seine Wiederwahl bewerkstelligen kann, wird wirklich wat ganz dickes auf uns zukommen.


    Amerika kann, und wird keinen Oelpreis von 100 Dollar pro Barrel abwarten, bis "gehandelt" wird. Die Europäer werden ihm wohl aus Eigennutz dabei ebenfalls unterstützen. Ob der Rest der Welt dabei nur zusieht wie beim Einmarsch in den Irak darf stark bezweifelt werden.


    Es ging, und geht weiter ums Oel, und Machterhalt Kalle!


    Gold stört dabei vorderhand noch!


    Gold wird aber trotzdem im Preis steigen, weil es plötzlich auf einmal alle haben wollen, und nicht genug davon da ist. Genau so wie beim Oel.


    Wenn es soweit ist, werden sich Millionen von Papier Gold, und Derivative Besitzer noch gewaltig wundern.


    Gruss


    ThaiGuru

    Gold und Silber Bugs sind aber nicht die einzigen die heute keine Freude haben!


    Die Aktien Bullen haben heute gewaltig eins auf's Gemüt gekriegt!



    http://finance.yahoo.com/m2?u



    Die aktuellen Rohstoff, und Comodities Preise!


    Soviele rote Pfeile habe ich in den letzten Monaten noch nie gesehen


    http://www.mrci.com/qpday.asp


    Soviel freigewordene Mittel wollen doch wieder investiert werden. Das ganze *Fiat Money* wird doch jetzt wohl nicht etwa in Staatsanleihen, und Obligationen flüchten wollen.


    Morgen gehts vielleicht schon wieder zurück ins Gold!

    [Blockierte Grafik: http://www.swissinfo.org/image…schweizer-nachrichten.jpg]


    http://www.swissinfo.org/sde/s…?siteSect=143&sid=4918855


    Donnerstag 06.05.2004, MEZ 20:22

    6. Mai 2004 17:59

    EZB lässt Leitzins unverändert

    HELSINKI/LONDON - Anders als in den USA und Grossbritannien zeichnet sich in der Zinspolitik der Europäischen Zentralbank (EZB) kein Ende des Status quo ab. Der EZB-Rat belässt den Zinssatz der Euro-Zone erwartungsgemäss bei 2 Prozent.


    Zuletzt hatte die Notenbank das Zinsniveau im Juni 2003 um einen halben Prozentpunkt gesenkt. EZB-Präsident Jean-Claude Trichet sagte am Donnerstag bei einer Sitzung in Helsinki, die EZB halte sich «bei den Zinsen alle Optionen» offen, habe aber zur Zeit keine Präferenz in die eine oder andere Richtung.


    Seit der letzten EZB-Sitzung Anfang April habe sich die Einschätzung der wirtschaftlichen Lage durch die Bank nicht verändert, sagte Trichet. Die EZB habe in punkto Zinsen «absolut keine Neigung» nach oben oder nach unten.


    Damit setzte sich die EZB von der US-Notenbank Fed ab, die am Dienstag zwar ihre Zinsen auf einem mehr als 40-Jahres-Tief von einem Prozent hielt, aber angesichts der anziehenden Konjunktur eine Erhöhung des Zinsniveaus in Aussicht stellte.


    In der Euro-Zone ist nach Schätzungen der EZB dagegen in diesem Jahr nur ein Wachstum der Wirtschaft um 1,5 Prozent zu erwarten nach lediglich 0,4 Prozent im vergangenen Jahr. Trichet sagte, jüngste Daten zeigten eine leichte Besserung der Konjunktur. Es gebe aber weiter gegenläufige Signale.


    Die Bank von England reagierte dagegen auf die anziehende Konjunktur in Grossbritannien und hob ihre Leitzinsen an. Wie die Notenbank in London mitteilte, erhöhte sie den Zinssatz wie erwartet um 0,25 Prozentpunkte auf 4,25 Prozent.


    Die Anhebung sei notwendig gewesen, um angesichts stark steigender Immobilienpreise die Inflation in Schach zu halten und dem weltweiten Wirtschaftsaufschwung Rechnung zu tragen, erklärte das Institut. 061754 may 04



    SDA-ATS

    Off Topic!


    [Blockierte Grafik: http://www.swissinfo.org/image…schweizer-nachrichten.jpg]


    http://www.swissinfo.org/sde/s…?siteSect=105&sid=4918442


    Donnerstag 06.05.2004, MEZ 19:52

    IKRK informierte die USA bereits vor Monaten

    swissinfo 6. Mai 2004 16:31


    Das Internationale Komitee vom Roten Kreuz wusste um die Misshandlungen im Bagdader Gefängnis. Es hatte die US-Behörden entsprechend informiert und Korrekturen gefordert.


    [Blockierte Grafik: http://www.swissinfo.org/xobix…img20040506_4918012_0.jpg]Irakischer Kriegsgefangener in Bagdad, mit Stromkabeln an den Händen. (Keystone)

    Um seine Neutralität zu wahren, veröffentlicht das IKRK seine Beobachtungen aber grundsätzlich nicht.


    Mehr....


    http://www.swissinfo.org/sde/s…?siteSect=105&sid=4918442

    Vielleicht steigen die Oel Preise nicht zuletzt auch wegen der Brisanz des Inhaltes dieser MSNBC Newsweek Web Exclusiv Meldung!


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    http://www.msnbc.msn.com/id/4901881/


    [Blockierte Grafik: http://msnbcmedia.msn.com/i/ms…sikoffhosenbal_021704.jpg]


    A New Rift?


    Saudi Arabia’s crown prince has blamed ‘Zionists’ for a weekend terror attack. While his comments seemed designed for a domestic audience, they could damage relations with Washington

    WEB EXCLUSIVE


    May 4 - Only days after the State Department praised Saudi Arabia for its “aggressive” and “unprecedented” campaign to hunt down terrorists, Crown Prince Abdullah—the country’s de facto ruler—has startled Bush administration officials by blaming “Zionists” and “followers of Satan” for recent terrorist acts in the kingdom. “We can be certain that Zionism is behind everything,” Abdullah told a gathering of leading government officials and academics in Jeddah as he talked about the weekend attack on oil workers, which killed six people, including two Americans. “I don’t say 100 percent, but 95 percent.”


    The comments were cited by stunned Bush administration officials and other Mideast watchers today as an ominous sign of possible new tensions in the U.S.-Saudi alliance. Although some top Saudi officials, notably Interior Minister Prince Nayef, have in the past made similar remarks, Crown Prince Abdullah has never before appeared to blame his country’s internal troubles on the Israelis—a position that is anathema to Washington.


    The U.S. ambassador to Saudi Arabia, James C. Oberwetter, plans to meet Wednesday with Saudi Foreign Minister Prince Saud al-Faisal to seek “clarification” of Abdullah’s comments, a State Department official told NEWSWEEK late Tuesday. “We’ve seen these remarks and, if the crown prince in fact made them, we would strongly disagree with such an assertion and consider it unhelpful,” the official said, adding that the State Department planned to withhold further comment until after the meeting.


    Yet the normally smooth and pro-Western Saud may not prove the most receptive audience for Oberwetter’s visit. The Saudi foreign minister seemed to echo his brother’s remarks in his comments today, telling reporters in Jeddah that last Saturday’s attack on oil workers in the industrial city of Yanbu—which have jolted the oil industry—had fed into “a Zionist campaign” to shake the Saudi monarchy, according to a Reuters report.


    In an apparent attempt to provide some evidence for his comments, Saud claimed that one of two Saudis who had been linked to the attack were believed to be followers of two well-known London-based Saudi dissidents, Saad al-Fagih and Mohammed al-Masari, who, according to the Saudi foreign minister, are being financed by Israel. No evidence of such links has ever been made public. "This shows how desperate and hopeless they are," Fagih told NEWSWEEK in a telephone interview from London. "This is like saying George Bush is sponsoring bin Laden."


    Some former Mideast diplomats today seemed flabbergasted by the remarks by the two Saudi leaders and at a loss to explain them. “It doesn’t make sense to me,” said Chas Freeman, a former U.S. ambassador to Saudi Arabia during the first Bush administration. “I just can’t understand it.”


    But others suggested the remarks may be part of a calculated effort to placate a domestic Saudi constituency up in arms over recent developments in the region, including President George W. Bush’s endorsement of Israeli Prime Minister Ariel Sharon’s announced, unilateral withdrawal from some Palestinian territories and even the new disclosures over the humiliating treatment of Iraqi prisoners by U.S. interrogators—a story that is dominating news coverage throughout the Mideast.


    “It’s terribly disappointing that they [the Saudi rulers] resort to this kind of stuff,” says Edward Walker, a former veteran U.S. diplomat and now president of the Middle East Institute, a Washington-based group that has received funding from Saudi Arabia. “They know damn well what’s happening.”


    But Walker added that the Saudi rulers “don’t feel they owe this country or this administration much of anything these days. They were terribly disappointed in the 100 percent support of Sharon … Maybe this is their way of making their disappointment clear. It’s also a way to blunt the edge of public opinion which is very much opposed to what we are doing … We have a horrible situation in the region.”


    This is hardly the first time that Saudi leaders have upset U.S. officials with controversial remarks in the war on terrorism. It took Saudi officials months to publicly acknowledge that 15 of the 19 hijackers involved in the September 11 terror attacks in the United States were Saudi citizens and, when they finally did so, in February 2002, they still appeared to blame others. Prince Nayef, the Saudi interior minister, who is in charge of internal security, insisted that the hijackers were a small minority who had been “taken advantage of” and that there was no Al Qaeda presence in the kingdom. As recently as December 2002, Nayef claimed that "Jews" were behind the September 11 attacks—a comment that drew strong protests from the U.S. State Department.


    For Crown Prince Abdullah to now engage in the same rhetoric creates awkward new dilemmas. The U.S.-Saudi relationship has been under persistent political attack in the United States, especially from leading members of Congress who blame the Saudis for failing to crack down on terrorist financing in their country and promoting religious extremism. One such member, Democratic Sen. Charles Schumer of New York, today suggested that Abdullah’s comments were evidence that the Saudi regime may be disconnected from reality. “If the Saudis are going to continue to deny reality and live in a dream world, then their regime will be short-lived,” Schumer told NEWSWEEK.


    Ironically, the Bush administration attempted to quell such criticism by issuing a new report last week that lavishly praised the Saudis for a renewed effort to crackdown on terrorism in the wake of last May’s deadly bombing at a housing compound in Riyadh. “I would cite Saudi Arabia as an excellent example of a nation increasingly focusing its political will to fight terrorism,” U.S. Amb. Cofer Black, the State Department’s coordinator for counterterrorism, said in a statement accompanying the department’s release of its annual “Patterns of Global Terrorism” report.


    Stating that Riyadh bombings and other attacks had “served to strengthen Saudi resolve,” Black praised the Saudis for a number of initiatives that included arresting more than 600 suspects and working more closely with U.S. officials on antiterror financing and money-laundering initiatives. Black also complimented the Saudis for initiating an ideological campaign against Islamic terrorist organizations that included statements by senior Saudi officials espousing “a consistent message of moderation and toleration.”

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    Gold Fields March production down


    --------------------------------------------------------------------------------

    South African gold miner Gold Fields' (GFI) gold production was down just 1% in the March quarter from the previous quarter, due largely to the Christmas break at the South African operations, the company said.


    http://www.bday.co.za/bday/con…23,1610009-6078-0,00.html

    [Blockierte Grafik: http://www.safm.co.za/images/2_1.gif]


    http://www.safm.co.za/money/index.jsp?articleid=1609487


    BusinessNews

    London gold fix enters the 19th century

    By Helmo Preuss


    After 84 years of using the antediluvian practice of face-to-face meetings, the members of the London gold fix ring will now conduct their twice-daily fixes using the nineteenth century technology of the telephone.


    On May 5 2004, the flag finally came down on a quaint tradition that has been enacted at the offices of N.M. Rothschild since Friday, September 12, 1919.


    The five members of the ring used to lower tiny Union Jacks sitting on their desks when supply and demand were balanced. This took place twice a day at 10h30 and 15h00 London time.


    The fix normally only takes ten minutes, but there were occasions in the 1980s when the fix could take up to 90 minutes. The chairman cannot declare the gold price fixed unless all the flags are down.


    The dealing rooms can alter instructions to their representatives at any time during the proceedings and that's where the tiny Union Jacks came in. The representative signals he is changing his declared interest by raising his flag.


    Anachronistic or not, it provided the gold market with a snapshot of the spot price of gold at a particular moment in time.


    When the five representatives met at Rothschild on that first Friday in 1919, gold was fixed at four pounds, 18 shillings and nine pence. Gold was fixed in London on Wednesday morning at US$394.30 an ounce. The quoted currency was changed to US dollars in 1968.


    The participants at the first fixing were from Rothschild, which chaired the meeting and every subsequent one, Mocatta & Goldsmid, Pixley & Abell, Samuel Montagu & Co. and Sharps Wilkins.


    During the subsequent years, some of the original five members were taken over by other companies, but membership was always restricted to five members.


    The last change was in August 2002, when SG, the corporate and investment banking arm of Societe Generale Group, took over the seat vacated by Credit Suisse First Boston International.


    The current five fixing members are Deutsche Bank, HSBC Bank USA, N.M. Rothschild and Sons, Scotia Mocatta and SG.


    In another change from tradition, the representative from Scotia Mocatta was the chairman at Wednesday's fix.


    I-Net Bridge



    06/05/2004 Source: I-Net Bridge

    The Merowinger


    Du hast in Deinem letzten Posting leider vergessen anzugeben, von wem der Beitrag geschrieben wurde.


    John Hathaway ist nicht etwa ein No Name, sondern einer der besten Wirtschafts, und Gold Analysten überhaupt.


    Zudem einer der ganz wenigen Analysten die vom sogenanten "Establishment" an der Wallstreet ernstgenommen wird.


    Darum nocheinmal ein Hinweis auf dieses neue Meisterstück, mit Nennung des Autors, und Quellenangabe dieses von Dir heute geposteten Beitrages.


    Ein besonders interessantes Zitat daraus:


    (Das war wohl der Preis, den Argentinien dafür bezahlen musste, dass Argentinien weitere Kredite vom IWF erhiehlt, und dadurch kürzlich einen totalen Finanzkollabs verhindern konnte.)


    Die argentinienische Zentralbank ist also jetzt auch Goldfrei!


    Zitat

    “And, two weeks ago, Argentina revealed that it had sold its entire gold reserves in the first half of the year, all 124 tonnes, and invested the proceeds of $1.46 billion in US treasury bonds.” Our math says that Argentina received approximately $342.- per ounce or 13% less than the current market, to invest in a depreciating asset.



    Interest Rates and "The Death of Gold"


    [Blockierte Grafik: http://www.goldseek.com/news/Tocqueville/tocqueville.JPG]


    By: John Hathaway, Tocqueville Gold Fund


    http://news.goldseek.com/Tocqueville/1083855333.php

    [Blockierte Grafik: http://www.busrep.co.za/site/2…es/banner/site_header.gif]


    http://www.busrep.co.za/index.…Id=563&fArticleId=2001150


    Thursday 6th May


    COMPANY NEWS

    Gold Fields reports 'satisfactory' results

    May 6, 2004


    By Philip Devine


    Johannesburg - Gold Fields on Thursday reported net earnings of R255 million for the quarter ended March 2004, which sharply contrasted with the R805 million earned in the March 2003 quarter. The figure was also slightly down on the previous quarters' figure of R277 million.


    This translated into earnings per share of 51 cents for the quarter compared with 171 cents per share for the March quarter of 2003.


    The South African gold mining company said quarterly operating profit was up 20 percent to R656 million from R545 million in the December quarter. However, it was still nowhere near the R1.126 billion profit reported in March 2003.


    Total cash costs were flat quarter on quarter at R67 528 per kilogram. In dollar terms cash cost were $309 per ounce.


    Global growth strategy was progressing well and international operations were debt free; Gold Fields said.



    Gold Fields chief executive officer, Ian Cockerill, said the company had produced satisfactory results and the company would remain focused on optimisation of operations to acheive sustainable earnings growth.


    "Despite the tough operating environment during the March 2004 quarter, Gold Fields has produced satisfactory results. The ongoing repositioning of our South African operations, to improve grades and reduce costs, has contributed to significant margin expansion. I fully expect this trend to continue.


    "These results reflect our focus on delivering value to shareholders. We continue to implement our strategy to build a high quality, internationally diverse, gold company that is optimally managed for sustainable earnings growth," Cockerill said. - Philip Devine

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    http://www.interfax.ru/e/B/0/26.html?id_issue=9697803


    Finance & Business


    --------------------------------------------------------------------------------
    May 6 2004 3:58PM


    Russia's gold, forex reserves were at $82.7 bln on April 30 MOSCOW. May 6 (Interfax) - Russia's gold and foreign currency reserves were at $82.7 bln on April 30, down from $82.8 bln on April 23, the Central Bank said in a press release Thursday.

    What Gold and Silver Analysts Overlook


    by Antal E. Fekete


    Auschnitt


    Serial Crimes of 1871, 1933, and 1971


    The right of the people to free and unlimited coinage of silver at the Mint is carved into the corner-stone of the U.S. Constitution. This right was abolished with a sleight of hand in 1871. "The Crime of 1871", as William Jennings Brian called the unconstitutional demonetization of silver, may get its just punishment after a 130-year hiatus before our eyes.


    It wasn't an isolated crime. It was a serial crime through which politicians deprived the American people of all their Constitutional rights and prerogatives pertaining to money, that started even before 1871. The crime was repeated on a bigger scale in 1933 when a Democratic president tricked the American people out of their gold. The crime was crowned in 1971 when a Republican president tricked the rest of the world out of its gold, while inflicting a regime of irredeemable currency on the American people and everybody else. Although through the betrayal of the economists the people were left in darkness about what has happened to their money, these crimes cry to high heaven for justice.


    While I am somewhat doubtful about the theory of conspiring private parties, I find the theory of a secret government plot to suppress the price of silver plausible, even persuasive. This plot may also include collusion between the governments of the United States and China to fend off a price explosion. According to this scenario China would supply cash silver to deliver against futures contracts, in return for the right to collect the income flowing from her short positions in silver.


    Even the obvious delivery problems cannot serve as conclusive proof that the insiders (also called "silver managers") have rigged the silver market in an effort to cap the price. After all, the silver to be delivered may have to be brought in from China. That takes time. Silver analysts would do well to compile intelligence as to what percentage of the delayed deliveries to the Central Fund of Canada and other longs has originated in China. If it was a large percentage, then we would have evidence that the silver managers were neither stupid nor suicidal. They merely acted as the agents of the government China.