Beiträge von ThaiGuru
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Dimiti Specks Beitrag ist absolut lesenswert, und erklärt verständlich die wichtigsten Aspekte zum Gold Geschehen, und warum davon auszugehen ist, dass der Goldmarkt nicht im Interesse von vielen, sondern eher mehr zu Gunsten der Gold Bullion Banken, und Zentralbanken abläuft.
Deinen Vorschlag werde ich gerne mal aufgreifen.
Gebe Dir völlich Recht, dass eine Markt Manipulation beim Gold nicht unbegrenzt stattfinden kann, und früher, oder später scheitern muss.
Mein Ziel ist es nun mal, das "Früher" etwas zu beschleunigen.
Gruss
Thaiguru
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[Blockierte Grafik: http://www.goldseek.com/news/LemetropoleCafe/lmpc.jpg]
http://www.lemetropolecafe.com
CARTEL CAPITULATION WATCH
Word that Al Qaeda was responsible for the Madrid bombings sent a technically vulnerable stock market reeling late in the day. The DOW dropped 168 to 10,128 and the DOG sank 20 to 1944. For the first time in more than a year, the US stock market fell precipitously two days in a row. The Working Group on Financial Markets (PPT) may have more than it can handle. This could also make it more difficult for them to keep gold under control.
The US stock market has been a disaster waiting to happen for a long time. Chuck has been all over this. Tomorrow should be quite the volatile day. You can be sure the PPT is making all sorts of phone calls this evening.
The dollar fell .53 to 88.49 and the euro rose 1.07 to 123.80.
GATA’s Mike Bolser:
Hi Bill:
The DOW finally responded to the Fed's wishes and fell exactly to its "appropriate" trend line, the one that puts it on 11,750 on Labor Day. Ofcourse the day-to-day action will somewhat mask this planned track. I keep emphasizing the value of appreciating that day-to-day action in the DOW calls into play more and more Fed response if that action is headed in the "wrong" direction. The repo pool pattern for this last phase is example number 1. Too high can be just as bad as too low.
By adding $17 Billion in temporary repurchase agreements the Fed caused the repo pool to rise a bit to $31.75 Billion and also to keep rounding off the pool's 30-day moving average bottoming pattern (its almost tracking level).
The latest Fed force application, lasting weeks was a long and persistent move that eventually took effect. Now, we must watch them closely as they attempt to regain better a management grip on the DOW. I would expect more volatility from the DOW during the current phase correction back to the trend line ( It tracks wobbly at 10,240 at this hour).
However, there can be no doubt as to the desired trend line for the DOW as it is made to fulfill its role in the Fed's grand inflationary theater that role is one of masterful diversion.
Even as the government has delayed the inflationary PPI report, juiced up the GDP with steroid-like hedonics and coached the Wall Street journals never to report the truth, the Fed's most important player (actually a cadaver) is dressed up to prance around drawing attention away from a dreadful reality.
The DOW functions like an anesthetic while the Fed's wrong-headed policy wrecking ball crushes wealth and Mr. Greenspan tries to put up more teetering defenses.
His latest circus stunt is to join the line of officials warning that the GSE contracts (Fannie and Freddie) aren't guaranteed by the government, as they prepare to report a $25 Billion derivatives loss (doubtless caused by the unexpected (and sluggishly dealt with) spike in interest rates last Summer.
Never mind that the whole idea behind the Fed's mid nineties gold rig was to create low interest rates and to thereby deliberately construct a massive credit and housing bubble.
Mike
Chuck checks in:
As thing unfolds, we want to see gold and the shares strengthen against everything especially an accelerated decline after the first bounce. This market has priced in a perfect world, and unfortunately we live in a fallen universe, man and nature.
Chuck………
You certainly have plenty to spin on tonight. I won't intrude. I only wish to point out and remind our readers that one of the purest correlations is between gold and the US dollar. But there is another strong one-between the stock market and gold. The last full bull market in gold occurred between 1971 and 1980. All during this time, the stock market experienced a terrible bear market and then six years of stagflation. This market present threatens to be far worse, a bear market without the stagflation. In essence an historic depression and collapse of stocks, housing and eventually bonds. If gold could go up 20 times under the past conditions, the possibilities for this one could be far greater.
Chuck
From The King Report last evening:
ZitatOne must ask themselves what event could force stocks higher. The Fed is useless, they can only hurt. There will be no fiscal policy initiatives. Bush’s tax rebates and accelerated depreciation are almost spent. There has been relative peace in Iraq and GI casualties have been extremely low. Bin Laden’s capture would generate about a 45-minute rally. The cupboard appears to be bare.
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Some tips for Café members:
Hi Bill,
I had been looking for a way to trade the HUI index for some time as most of the shares I had been interested in comprised the bulk of the index. I found that there is a nascent market in HUI options, with the back month as far back as September, 2004. The liquidity is not there yet. However, there does appear to be increasing evidence of market making activity, at least in terms of reasonable bid-ask spreads. Plus volume is beginning to grow. Of course, options aren't for everyone, or even most investors, but I thought the GATA community might benefit from the awareness of this relatively new trading avenue, which has not really been publicized all that well.
Regards,
Tim Tesluk
Hong KongBill,
You have been on about what happens when derivative contracts go wrong for a long time. The attached link is a good (now old) case study of same in the oil industry.
http://www.simmonsco-intl.com/files/0194mrs.pdf
Interesting site they seem to have it straight about future reserves.
Regards
Keith Whitehouse
From http://www.urbansurvival.com (George Ure):
Oil Driven Decline
Although the market has had a few bumps in here that we don't care about, having exited the market long ago following our personal belief that the markets are controlled to some degree by the Plunge Protection Team (PPT) and are therefore like placing bets in a rigged casino, we nevertheless find days like today interesting. The price of gasoline at the pump is a major driver, and when coupled with things like the explosions in Madrid overnight (which killed nearly 200), don't leave even the staunchest of bulls much to sink their teeth into. http://biz.yahoo.com/rb/040311/markets_stocks_2.html. The markets globally are reacting in a predictable hype, shuck, and dive manner... http://news.bbc.co.uk/1/hi/business/3500386.stm
Not to sound like a broken record here, but if you haven't yet followed our advise (given first to subscribers) to read every paper put out by Simmons & Company International, investment bankers to the energy world, then you are living under a rock as one of the sheep. On the other hand, if you really want to see from the knowledgeable investment banker's perspective just what the world is really racing on the energy front, click over to Matthew R. Simmons' more recent presentations on energy at http://www.simmonsco-intl.com/research.aspx?Type=msspeeches.
One you get there, I want you to do three things:
First read his Global Overview of the Oil and Gas Industry. It's a PowerPoint presentation wrapped up in a .PDF file. It's only 28 slide in length, which you can digest in 10-15 minutes. Right off the bat, on slide 4, you read things like this: "„ Despite this "energy calm", global demand reached an all time peak. – In 2003, oil demand crossed 80 million b/d. – Natural gas demand exceeded 45 million boe/d. „ Oil and gas is a $1.5 to $2.0 trillion business. „ If supply ever becomes even 1% less than demand, a crisis is triggered. „ If energy supply ever stops, the 2004 economy ends. „ Oil and gas are still the world’s most precious resource." And it gets better.
The second presentation I want you to read is even more important, but you need to read the Global Overview first. The second read is his "Saudi Arabian Oil Miracle presentation. The one term that might be unfamiliar to you is his reference to "FSU" which stands for former Soviet Union as a supply of oil. At 60 slides in length, this might require a second cup of coffee, but when you're done, you will get an oilman's understanding of three critical concepts that will put you head and shoulders above anyone you know in knowledge of what's coming. First, you will understand the concept of what Kings, Queens, Lords, and peasants are in oil lingo. Secondly, you will get an appreciation of by-passed oil and water driven recovery, which, as Simmons points out: "Once oil is by-passed, it is "left behind."
The last - but most important thing you can do, is sign up to be on Simmons' free email list to receive notification each time he puts another speech or presentation on line.If you'll do just these three things, you will have a major head start on 99.99% of the rest of the world. If you're planning to be an urban survivor, you'll recognize the value of such a lead. You'll also gain an appreciation of why the folks behind http://www.lifeaftertheoilcrash.net and I think Matt Simmons ought to be given sainthood while still alive as the most readable source of straight information on the global oil situation available.
-END-
From my brother, a superb market technician:
Hey Bill, From a technical standpoint, gold is finally indicating it has bottomed out. A close above 410 would be very significant. Despite silver's recent rise, it still has plenty of room to move to the upside. 7.50 is a strong resistance level and after that it is clear sailing. The dollar is struggling and a close below 88.00 should resume the downtrend.
Many thanks to all of the cafe members that purchased the 100 oz silver bars with Swiss America. Besides helping the 'cause', they are already making money as well! Keep up the great job. Brother Tim
Tim Murphy
Swiss America Trading Corp
800-289-2646 x1019
trmurphy@swissamerica.comThe gold shares were sluggish all day. Then when the US stock market began to tank badly late in the day, the gold shares sold off. However, they quickly reversed to close higher. This many alleviate the fears of those who think a general stock market debacle will bury the gold shares too. The XAU gained 1.14 to 98.88 and the HUI put in a 2.51 gain to 222.98. The HUI rounded bottom pattern continues to expand. The upside technical point and figure counts must project sharply higher gold share prices once this pattern is completed.
To repeat.
With all that is really going on in the world, it is only a matter of time before gold and silver prices SOAR, regardless of the antics of The Gold Cartel. These bums have clearly lost control of silver and will also lose control of gold with such large buyers lurking out there.
There is no telling how high gold and silver prices could go this year. Gold, silver and the shares remain THE historic investment opportunity of a lifetime!
GATA BE IN IT TO WIN IT!
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The John Brimelow Report
Consistent selling; Prognosis on SA
Thursday, March 11 2004
Indian ex-duty premiums: AM $4.12, PM $4.44, with world gold at $399.50 and $397.50. Slightly below legal import level. India does not seem in a gold-buying mood at present. With world silver at $7.05 at the Indian close, domestic silver edged below import point too.
TOCOM initially attempted to hold the gains of NY’s late rally back to $400. However, as Mitsui-London frankly reports:
Zitat"Through the Asian day offshore selling came forward but TOCOM buying at the lows provided good support."
(Mitsui-HK describes the selling as "trade long liquidation".) Volume fell 27% to equal 31,753 Comex lots, with the active contract down 14 yen; world gold was 50c below the NY close at the end of trading. Open interest rose, by the equivalent of 1,228 Comex. (NY yesterday traded 54,885 lots.)
Yesterday, an effort by gold to rally on the Trade Data was promptly suppressed. ScotiaMocatta says:
Zitat"…dealers began selling gold. Trade selling weighed on the price throughout the morning, forcing the metal to a low of 397.80 before physical buying provided support."
Standard London’s version is:
Zitat"The trade deficit came out at a historic level and gold plumped to the days low of 397.90 offer as dealers gladly chased it lower. Good bidding at the lows easily lifted gold higher and it closed straddling the 400."
In general, then, there seems to be a ready seller just above $400 operating in all markets.
Those interested in the long term viability of deep mining in South Africa should read:
http://www.vdare.com/misc/rushton_african_iq.htm
especially the second half.
JB
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http://www.lemetropolecafe.com
March 11 - Gold $400.20 up 50 cents - Silver $7.14 up 1 cents
Chinese And Saudi Gold Buying Versus US Selling
ZitatIf you wish to succeed in life, make perseverance your bosom friend, experience your wise counselor, caution your elder brother, and hope your guardian genius... Joseph Addison
GO GATA!!!
A very choppy day. The story behind the scenes was most likely a battle between US sellers and Chinese/Saudi gold buyers.
There was a huge seller out there today which caught many gold traders going the wrong way most of the trading session. Early on gold traders were bagged as they bought a lower gold because the euro was on the move higher. However, a huge physical seller suddenly showed up. This supply eventual put gold down $3 on the day as the locals on the Comex panicked out of their positions and went short.
I say the US was the seller because we have seen gold act like this over and over. Just when it should be flying, gold goes the other way in the most unnatural of fashions. This morning stock markets were sharply lower all over the world, some group blew up the Madrid, Spain train station killing over 170 people, commodity prices were on the move higher and the euro was very firm. A perfect recipe for cheap gold to become more expensive.
Instead, gold was under pressure all day as a result of the enormous physical market seller. It was the same kind of selling pressure we saw during the LTCM crisis. Gold should have taken off then. However, Goldman Sachs, JP Morgan Chase and the rest of the crooks sat on gold for weeks in the fall of 1998 until the crisis was under control. Eventually gold longs were so disgusted and disappointed, they began to dump their holdings.
I don’t believe this situation is comparable to that nightmare, but today’s gold price capping surely was an effort to prevent a gold price rise from revealing stresses in the financial system.
With gold down about $2.50 on the day I received a phone call from my STALKER source. Turns out, this buying group, which we believe is the Chinese, had been out of the market recently, but are now coming back in. Barely had the phone been put back on the hook, when gold took off to the upside, catching the locals on the wrong side once again.
My STALKER source also tells me the word in Europe is gold is likely to make a substantial move higher this summer due to rising commodity prices and a weakening dollar. Normally, the European bullion dealers gear down for slow gold trading in the summer. This year, they will be gearing up.
Gold continues to be the most undervalued commodity in the world, thanks to The Gold Cartel. Copper rebounded sharply today to close at $133.90, up $5.15. Soybeans soared 20 ½ cents to $9.44. Cotton gained 1.3 cents to 65.93 cents. Crude oil is aiming at $37 per barrel again, closing at $36.78. Silver made a new 7-year high. The CRB jumped 3.31 to 275.42.
Continually rising commodity prices, a dollar which is likely to come under severe pressure again soon, and world tensions are a recipe for gold to resume its advance in short order, especially with the Chinese and Saudis both looking for cheap gold.
The gold open interest leaped 6,254 contracts to 236,263 on yesterday’s setback. This is unusual. Not sure what to make of it except if we clear $406 in the next few days, it will turn out to be very bullish from a technical standpoint.
Over the last three weeks silver’s advance has been relentless. It has surged higher, composed itself for days, then has surged again. Every time silver is about to be clobbered Great Lakes, a floor firm which trades for large funds, shows up with buy orders. It happened again today. Today’s small up day represents a new high for the move.
There were only 10 deliveries with Deutsche Bank getting one of them.
Here is a pleasant surprise. The March silver open interest went up 47 contracts, bringing the new total up to 505. If this continues, it could be an ominous development for the silver shorts. This will bear monitoring. The total open interest rose 1760 contracts to 118,059 and is only a 1,000+ contracts of making a new high for this move.
Silver acts like it wants to explode, but has been held back by the constant gold selling pressure. I am expecting silver to head for $7.50 within the week. Still no near-term downside gaps to fill. About time we get our breakaway gap and run higher.
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Du schreibst:
ZitatIch habe mal ein bisschen bei Ted Butler reingeschaut. Der hat mehr als eine Schraube locker
Dieser Ted Butler hat mit sicherheit keine Schraube locker, ganz im Gegenteil. Ohne seinen unermüdlichen Einsatz für Silber, würdest Du, und wir alle vermutlich nicht in den Genuss des jetzt gerade stattfindenden Silberpreisanstieges kommen.
Mit welcher Berechtigung vergibst Du eigentlich solche Qualifikationen wie in Deinem Zitat? Wie lange hast Du Dich denn mit der Materie Silber Beschäftigt. Wieviele Leute hast Du Wachgerüttelt und auch nur irgendwas angeprangert, aufgeklärt, oder bekämpft. Ich vermute da ist nicht viel. Trotzdem würde ich nicht im Traum darauf kommen bei Dir eine lockere Schraube, oder einen Fall für die Klapsmühle zu vermuten.
Du gehst verdammt freizügig mit Worten um!
Gruss
ThaiGuru
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Leider habe ich das Buch von Ferdinand Lips bis jetzt nur in kurzen Auszügenim Internet lesen können, und somit kann ich mir noch nicht erlauben The Gold Wars zu bewerten.
Vielleicht hast Du eine, oder mehrere konkrete Aussagen von F. Lips die Du nur für eine Theorie hälst.(Ich vermeide bewusst das diskriminierende Modewort Verschwörungstheorie) Bis ich selbst dazu komme ein Buch in Ruhe zu lesen wird`s vermutlich Sommer werden in Deutschland.
Gruss
ThaiGuru
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Danke für Deine Definition
***
Hier hast Du meine Definition
Für mich ist eine Verschwörung, jede Art von geheimer Absprache, um Personen, Freiheit, Gedanken, Sachen (dazu zähle ich auch Aktien, Gold, Silber, ja selbst Schweine Bäuche, freien Handel etc.), zu schaden, oder zum Nachteil vieler, und zum Vorteil weniger zu manipulieren (Bewegen).
Und genau das trifft meiner Meinung nach beim Gold und Silber Handel zu. Ich sehe es auch nicht nur als eine Theorie an, sondern glaube belegen zu können, dass es eine Tatsache ist.
Falls Du von mir nicht nur Worte hören willst, sondern auch Fakten, Zeitzeugnisse, wie offizielle Veröffentlichungen, Presseartikel, und in Einzelfällen Beweise sehen willst, kannst Du mich gerne fordern.
Gruss
Thaiguru
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Falls jemand genügend Risiko Kapital zu Verfügung hat, kann er vielleicht hier sein Glück, oder Pech finden!
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Viel Glück, und Kohle wünscht Euch
ThaiGuru
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Business News
Thursday's gold coin prices
The Associated Press
3/11/2004, 10:39 a.m. ETSelected coin prices Thursday
Gold Coins
Bid Chg.
American Eagle, 1 troy oz. $416.38 off $ 1.88
American Eagle, .50 oz. $215.16 off $ 0.98
American Eagle, .25 oz. $108.58 off $ 0.49
American Eagle, .10 oz. $44.63 off $ 0.20
Austla. Kangaroo, 1 troy oz. $416.38 off $ 1.88
Aus. Philharmonic, 1 troy oz. $416.38 off $ 1.88
Maple Leaf, 1 troy oz. $416.38 off $ 1.88
China Panda 1994, 1 troy oz. $422.36 off $ 1.91
Krugerrand, 1 troy oz. $404.45 off $ 1.80
U.S. Silver Coins $1000 face
value pre 1964 circulation. $5280.28 off$ 53.62
U.S. Silver Eagle, 1 troy oz. $8.95 off $ 0.07
U.S. Platinum Eagle, 1 troy oz. $947.99 off $ 7.33
Bulk wholesale prices. Source: Manfra, Tordella & Brookes, Inc.
Rare U.S. Coins (Mint State 65)
Bid Asked
Morgan Silver Dollar $94.00 $101.00
Peace Silver Dollar $104.00 $120.00
Walking Liberty Half Dollar $68.00 n.a.
$20 Liberty Gold Type III $3990.00 n.a.
$20 St Gaudens, motto $1030.00 n.a.
Source: Certified Coin Exchange -
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http://www.iii.co.uk/shares/?t…id=4921419&action=article
2004-03-11 08:31 GMT:
Indonesia to allow mining firms to continue operating in protected forestsJAKARTA (AFX-ASIA) - The government has decided to allow mining firms to continue operating in protected forests, ending years of legal uncertainty for some 150 mining firms since a forestry law banned such operations in 1999.
Coordinating Minister for the Economy Dorodjatun Kuntjoro-Jakti said the government has issued a regulation that will revise the forestry law.
"As you know, about 150 mining companies have been prevented from operating since the issuance of the Forestry Law No 41/1999," Kuntjoro-Jakti told reporters after a cabinet meeting with President Megawati Soekarnoputri.
The mining firms, some of which are multinationals, own mining permits on land which under the 1999 forestry law overlaps with protected forest areas.
They have since suspended their operations. Among the suspended projects is a nickel mine on Gag Island that is believed to hold one of the world's largest nickel deposits.
Deputy Cabinet Secretary Lambok Nahatthands said the new regulation allows mining firms that obtained their permits before the 1999 forestry law to resume their operations.
He said government regulation No 1/2004 takes effect today, but it will need legislators' endorsement to revise the forestry law.
Megawati will issue a presidential decree listing the mining companies that may resume operations, he added.
The Ministry of Forestry has been against such an exemption, arguing that deforestration in Indonesia is proceeding at one of the fastest rates in the world, with between 1.6 mln to 2.1 mln hectares of forest disappearing every year.
bkm/js
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Ich habe mich vermutlich zu wenig verständlich ausgedrückt.
Habe schon verstanden was Du in Deiner Antwort an Bognair gemeint, und auf was Du hinweisen wolltest.
Ich kenne aber erst wenige Deiner Postings. Um Deine Einschätzung zur Sache Gold besser verstehen zu können, wäre für uns neuen User im Board hilfreich, wenn Du uns Deine Definition des Begriffes Verschwörungstheorie kurz in einigen wenigen Worten erklären könntest.
Ein Beispiel zum Bsp. wäre:
Alles was nicht bewiesen ist = Verschwörungstheorie
oder
Der Goldpreis wird manipuliert = Verschwörungstheorie
Gruss
ThaiGuru
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http://biz.yahoo.com/djus/040310/1819001071_1.html
Dow Jones Business News
Peru's Buenaventura Sees Gold, Silver Output Up In 2004
Wednesday March 10, 6:19 pm ET
By Mike Esterl, Of DOW JONES NEWSWIRESNEW YORK (Dow Jones)--Peruvian mining heavyweight Compania de Minas Buenaventura SA expects to raise its gold output again in 2004, but less dramatically than last year's double-digit jump.
Roque Benavides, Buenaventura's chief executive, estimated Wednesday that gold production will increase by about 120,000 ounces this year, adding "about 8% or 9%" to 2003 output."Most of it will come from our own operations," added Benavides in a presentation to investors in Manhattan.
He said output will rise at the Yanacocha gold mine, its key minority holding, but not as quickly. Buenaventura has a 43.65% stake in Minera Yanacocha SRL, with U.S.-based Newmont Mining Corp. (NYSE:NEM - News) owning 51.35% and the World Bank's (News - Websites) International Finance Corporation the remaining 5.0%.
Last year, gold output at Yanacocha, Latin America's largest gold mine, soared 25% to 2.85 million ounces. Output at units that Buenaventura controls rose 14% to 289,886 ounces.
Benavides told Dow Jones Newswires that production of silver, the company's second-largest source of revenue, would rise around 5% this year. Output edged 1% higher, to 11.8 million ounces, last year at the various units Buenaventura controls.
Silver output could jump as much as 10% or 15% in 2005, after a new cyanidation plant at its main silver mine, Uchucchacua, is completed, he added. The plant will allow for the processing of tailings and eliminate waste.
Buenaventura, which recently announced record profits in 2003 on the back of surging gold prices, plans to spend around $45 million to boost mining operations that it controls in 2004. That doesn't include more than $30 million that the company and its partners plan to spend at Yanacocha to replenish reserves.
Benavides said the Peruvian miner is scouting opportunities beyond its borders, looking at properties in Bolivia, Ecuador and even Mexico.
Early-stage exploration in southern Argentina, however, has yielded "mediocre results" thus far and Buenaventura plans to dedicate most of its efforts to expanding production on home soil, he told investors.
"We will continue focusing on precious metals mining in Peru," he said.
The senior executive acknowledged he is no fan of President Alejandro Toledo, who recently watched his support fall below 10% in opinion polls after failing to deliver on campaign promises of strong job growth.
"Peru is suffering from the same illness as many other countries: a lack of leadership," said Benavides, who also described Toledo and members of his political party as "very inept."
But he said that Toledo has been clever enough not "to do stupid things" with the economy and praised the skills of Pedro Pablo Kuczynski, a veteran investment banker and former World Bank economist who returned to the cabinet as finance minister last month.
He added that lawmakers in Peru's often fractious Congress have realized that they must let ministers do their jobs, and that Peru's highly dollarized economy provides a further cushion for jittery investors.
Benavides said Buenaventura's gold output in Peru will get a further boost in 2005, when the company expects to start operations at its La Zanja open pit mine after a $35 million investment. The mine could produce on the order of 100,000 ounces a year, he estimated.
Buenaventura is Peru's largest publicly traded precious metals company and its stock price soared last year, helped by strong demand for gold, which reached a 15-year high of $430.50 an ounce in early January.
Buenaventura's share price on the New York Stock exchange skyrocketed 114% last year, although it fell 3.0% Wednesday to $24.61, down 3.7% from the end of December. Gold prices have slipped in recent weeks and dropped further Wednesday, to around $400 an ounce.
Stock market participants have begun to speculate in recent months that Buenaventura is a good candidate to acquire another gold producer to grow even more quickly - or be taken over by a larger gold company.
Benavides tried to downplay that talk Wednesday, saying that "all these rumors probably start with investment bankers" trying to drum up advisory fees.
`We are not for sale. We believe we can grow organically and create value for shareholders," he told investors.
He said Buenaventura already ranks as one of the 10 largest gold and silver producers in the world.
-By Mike Esterl, Dow Jones Newswires; 201-938-4026; mike.esterl@dowjones.com
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http://biz.yahoo.com/rm/040311…y_ecb_welteke_gold_1.html
Reuters
UPDATE - ECB's Welteke: gold sales not for for budget holes
Thursday March 11, 6:48 am ETBERLIN, March 11 (Reuters) - European Central Bank Governing Council member and Bundesbank President Ernst Welteke said on Thursday the Bundesbank had a clear position that gold sales should not be used to fill budget holes. "For us it is about maintaining the capital that has been built up over many years and not using it to plug holes in the budget," Welteke told reporters at a meeting of the Foreign Press Club of Germany.
The Bundesbank has announced plans to sell 600 tonnes of its 3,400 tonnes stock of gold over the next five years. Welteke has proposed any proceeds be put into an interest-bearing fund whose income could be used to promote research and development.
He met members of the German parliament's budget committee on Wednesday to discuss the idea but the reception was hostile, leading the Bundesbank to threaten to review its sale plan.
Welteke said on Thursday the debate was far from over.
"There is still a lot to talk about" with the politicians, he said, when asked if he still expected a formal legislative proposal from the government that would open the way to the creation of such a fund.
"I would regret it very much if members of the German parliament took a decision after half an hour meeting with the president of the Bundesbank."
Welteke noted his plan had already received the backing of German Chancellor Gerhard Schroeder and claimed it also had broader support within the German parliament.
"That those responsible for budgetary policy would take a more critical view was to be expected from the start," Welteke said.
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http://www2.ccnmatthews.com/sc…pl?/current/0310080n.html
NEWS RELEASE TRANSMITTED BY CCNMatthews
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FOR: NORTHERN STAR MINING CORPORATION
TSX VENTURE SYMBOL: NSM
MARCH 10, 2004 - 12:46 ET
Northern Star Announces New Gold Discoveries at Midway
Project and, a Significant Intersection of 0.24 Ounces
per Tonne Gold Over 77.4 FeetVANCOUVER, BRITISH COLUMBIA--Northern Star Mining Corp., (NSM-V) is pleased to announce that the most recent drill results
continue to encounter significant gold mineralization on its
Midway Gold property, located 16 km west of the city of Val d'Or,
Quebec, 1 km south of the Trans Canada highway.The present ongoing drill program consists of approximately
50,000 feet of drilling focusing on the discovery of new gold
zones, and the extension of the gold mineralization envelope
along strike, dip, and thickness in those zones already known.Highlights include:
Hole NSM 04-24, drilled in the Midway zone, returned a value of
0.419 ounces per tonne of gold over 41.5 feet, including 0.692
ounces gold tonne over 21.8 feet. A second zone (Midway 2) is
located from 739 to 749 feet and returned a value of 0.276 ounces
per tonne over 8.7 feet. From 606-749 feet, which includes 32
feet of low grade ultramafic rock, hole NSM 04-24 returned a
value of 0.246 ounces per tonne gold over a true width of 77.4
feet.Hole NSM 04-25, drilled in the upper Halet zone returned a value
of 0.269 ounces per tonne gold over 56 feet.Hole NSM 04-17, resulted in the discovery of a new zone returning
a value of 0.342 ounces per tonne gold over 15.2 feet.Present results include data up to and including NSM 04-26.
/T/
weiter....
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http://trinity.mips1.net/MGGol…6E54002E96D2?OpenDocument
Harmony edges closer to Northern gold mine
By: Peter Gonnella
Posted: 2004/03/11 Do 16:28 ZE8 | © Mineweb 1997-2004
PERTH (minewebaustralia.com) – The world’s fifth largest gold producer, South African-based Harmony Gold Mining Company [JSE:HAR], and its junior Aussie joint venture partner are inching towards a second crack at cranking up gold production at the Burnside project in the Northern Territory, Australia.Perth-based Northern Gold [ASX:NNG] today (Thursday) advised that further positive hits from the Cosmo Deeps resource definition drilling program were expected to culminate in a revised resource estimate, which currently stands at 4.8 million tonnes grading 4.7g/t for a contained 725,000 ounces of gold.
Cosmo Deeps doesn’t include the smaller higher-grade Zapopan underground orebody, which is also the subject of an advanced exploration campaign and remodelling work and is slated for a resource and reserve update.
Should the partners decide to proceed with commercial operations, Zapopan – which currently hosts an underground resource of about 298,000 tonnes at 15.1g/t for a contained 145,000oz including a reserve of about 189,000t at 14g/t for a total 85,000oz – is earmarked to be mined first. “The objective of the Burnside JV is to … create cash flows and profits from the Zapopan underground mine and open pit reserves over a two- to three-year period, sufficient to internally fund initial development of the large Cosmo Deeps gold resource,” it stated. That initial Zapopan phase was forecast to produce about 75,000-100,000oz per annum before the second stage Cosmo Deeps and remaining open pits, targeted to produce 100,000oz-plus per annum, were brought on stream.
Partial decline development to expose Zapopan underground mineralisation was carried out before the proposed low-capital cost Burnside redevelopment was put on hold in April 2003 because of the negative impact on forecast returns of the then weaker Aussie dollar gold price. It had plummeted by more than A$100 per ounce from a pre-Iraq war high of around A$650/oz (and is still struggling at about A$535/oz). “Accordingly, following the deferral of development activities at Zapopan, we have undertaken, or are about to undertake, various drilling programs on both existing and new resources to build up the resource and reserve position,” Northern Gold’s managing director Peter Kerr told Mineweb.
In addition, the Burnside JV, in which Harmony and Northern Gold have an equal stake, already has a modest-capacity processing plant bought from AngloGold and associated infrastructure on site and the Aussie company said it would take only about four months from a go-ahead by the partners to production start-up.
Kerr told Mineweb the JV was hoping to report new resource and reserve calculations for Zapopan some time next month in preparation for the planned refining of the stage one feasibility study (taking in Zapopan and supplementary open pits) and a new resource estimate for Cosmo Deeps around mid-year ahead of a possible conceptual study into stage two (Cosmo Deeps).
Northern Gold stock was slightly down today in line with Aussie gold stocks, losing A$0.01 to close at A$0.30, which equates to a market capitalisation of about A$45 million
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Es wäre nett wenn Du mir und den anderen Neulingen im Board, Deine eigene Definition des zumeist in anti Gold Kreisen häufig verwendeten Modewortes Verschwörungstheorien erklären könntest. Oder noch besser, welche Aussagen von Bognair und auch anderen Gold Bugs, Du speziell als Verschwörungstheorien bezeichnest.
Meine Frage bezieht sich auf dieses Zitat von Dir, in einer Antwort an Bognair.
ZitatSorry, aber meiner Meinung nach denkst du zu sehr an grosse Verschwörungstheorien
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Der Währungs-Interessen-Krieg!
Die Aussagen könnten nicht gegensätzlicher sein
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Laut einem Bericht der "Time of London" werden die Kosten, die die japanische Regierung zur Schwächung des Yen an den Währungsmärkten im Geschäftsjahr bis Ende März in Kauf nehmen werden muss, auf 7.8 Billionen Yen (entspricht US$73 Milliarden).
© BörseGo
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Interventionen bescheren Japans Notenbank billionenschwere Kursverluste
(Bernd Weiler)
Experten warnen vor den Folgen einer anhaltenden Dollar-Baisse
mehr....
http://www.welt.de/data/2004/03/11/249581.html
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Weitere Presse Meldungen zum "Währungskrieg":
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Japans Interventionen belasten Bank Austria
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US-Finanzminister Snow bekräftigt Ablehnung von Interventionen
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[Blockierte Grafik: http://gfx.finanztreff.de/vwd_…l/kopfleiste/vwd_logo.jpg]Japan/Tanigaki sieht keine US-Kritik an Japans Interventionen
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Snow: Interventionen tragen nicht zur Währungsstärke ...
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IWF: Japans Interventionen sind "positiv"
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[Blockierte Grafik: http://boersetest.bluewin.ch/i…_500x40_boersenticker.gif]DEVISEN/EZB sollte Euro-Kurs mit Interventionen unter ...
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EZB-Interventionen wenig wahrscheinl.
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http://www.reuters.de/newsPack…oryID=473356§ion=news
Restriktive Kreditvergabe droht Aufschwung zu gefährden
Berlin (Reuters) - Die deutschen Unternehmen sehen sich angesichts der vorsichtigen Kreditvergabepraxis der Banken vor anhaltend großen Finanzierungsproblemen, die den beginnenden Aufschwung in Deutschland beeinträchtigen könnten.
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Eine Umfrage unter rund 4600 Firmen aus 24 Branchen, die von der KfW-Gruppe und einer Reihe von Wirtschaftsverbänden am Mittwoch in Berlin vorgelegt wurde, ergab, dass die Kreditaufnahme für gut 43 Prozent der Firmen im vergangenen Jahr erneut schwieriger wurde. Kleinere Unternehmen seien davon weit härter als große betroffen. Von ihnen habe jedes Zweite über Probleme bei der Kreditaufnahme geklagt. Rund zwölf Prozent der Firmen seien Kreditanträge für Investitionen abgelehnt worden. Auch Kündigungen von Geschäftsbeziehungen mit Mittelstandskunden durch die Kunden seien nicht selten. Industrieverbandspräsident Michael Rogowski warnte: "Wird den mittelständischen Unternehmen der Boden unter den Füßen weggezogen, hätte dies gravierende Auswirkungen auf unsere sowieso schon niedrigen Wachstumserwartungen".
KfW-Chef Hans Reich erklärte: "Die Finanzprobleme der Unternehmen sind dramatisch". Sie spiegelten den Strukturwandel im Finanzsektor wieder, der sich mit hoher Geschwindigkeit fortsetze. Inzwischen gebe es aber Indizien dafür, dass viele Banken die Potenziale des Geschäfts mit den über 3,3 Millionen Kunden im Mittelstand wieder deutlicher sähen und ihre Strategie anpassten.
Rogowski forderte: "Die Banken müssen bei der Stange bleiben". Er kritisierte, oft genug sei es nicht die Bonitätsbewertung eines Kunden, die zu negativen Kreditentscheidungen führe, sondern die geschäftspolitische Strategie der Banken selbst. Nur über bessere Finanzierungsbedingungen für die Wirtschaft könne es die Investitionen geben, die für einen Aufschwung unverzichtbar seien, mahnten Reich und Rogowski.
weiter....
