Hiding Bear Posted October 1, 2004 Report Share Posted October 1, 2004 Welcome to B4 the Bell! Besides discussing the possible slow devaluation of the US$ at this weekends G-7 meeting, the G-7 is also discussing an IMF proposal to revalue gold to market levels. Obstensibly this is being done for the purpose of giving debt relief to poorer countries of the world, but it is also a back-handed compliment about the value of gold: WASHINGTON, Sept. 30 - The United States and the top international financial institutions indicated on Thursday that they were closing in on an agreement to forgive all the government debts of many of the world's poorest countries. Discarding their previous objections, the International Monetary Fund and the World Bank gave the green light on Thursday to a British proposal to pay off about $40 billion that the world's poorest nations, most of them in sub-Saharan Africa, owe to the World Bank and the International Monetary Fund. The impetus for these latest discussions came from Britain, which on Sunday endorsed the idea that the I.M.F. should revalue its gold reserves to reflect current market prices, using the estimated $32 billion increase on its balance sheet to write off most of the debts of 38 of the world's poorest countries. To complete the job, Britain said that it would pay off 10 percent of the debt out of its own funds and would encourage other rich countries to do something similar. http://www.nytimes.com/2004/10/01/business...rhIQ1SsHR+56Htg Good trading! Link to comment Share on other sites More sharing options...
DrStool Posted October 1, 2004 Report Share Posted October 1, 2004 Good morning, what's up? The whole world, that's what. All is well. There is a Santa Claus. Baseball is returning to DC. Link to comment Share on other sites More sharing options...
Ned38 Posted October 1, 2004 Report Share Posted October 1, 2004 My first thought this a.m. was that the whole world was high fiving Kerry's debate skills..................but Doc is right, the real reason is baseball coming back to D.C Link to comment Share on other sites More sharing options...
traderfromhell Posted October 1, 2004 Report Share Posted October 1, 2004 Good morning, what's up? The whole world, that's what. All is well. There is a Santa Claus. Baseball is returning to DC. Sweetheart deal for Peter Angelos owner of the O's. Nice to see a team back in D.C. What's the name of the team gonna be? Washington Invaders? Link to comment Share on other sites More sharing options...
Guest yobob1 Posted October 1, 2004 Report Share Posted October 1, 2004 HB, we've got to stop meeting like this! Debate 1 is now history. Going into debate 2 the primary considerations are: Is there enough make-up left for another debate? Should Shrub ask for a booster platform? Will Bush demand an immediate Constitutional ban on split-screens? IMO Bush looked real bad when Kerry was speaking, while Kerry appeared more relaxed when Bush was speaking. Bush had many moments of brain freeze, Kerry only had a few. The Bush strategy of locking onto a phrase (wrong war, wrong place, wrong time) and regurgitating it over and over had echos of "lock boxes" ringing in my ears. The best that can be said for Kerry is he didn't fall flat on his face and was fairly aggressive. The best that can be said for Bush is he didn't go "Dean postal", though he edged close a few times, leaning forward, face flushed and voice raspy with spittle. I think there was a clear winner and it appears as though the world markets have agreed. It looks to me like the rest of the world is applauding Kerry. Does that play in Peoria? More importantly does it play on Wank Street? The fuctures think it does, but I have my doubts. Looks like Uncle Bucky is enjoying his 2 Cox with chocolate cream pies while Uncle Earl awaits the next miracle production increase out of Saudi. What are they up to now ? Is it 3 trillion or 4 trillion barrels per day? I've lost count. PMs are getting a minor haircut in London, but we all know this is smack down Fryday. Frankly I'm a little concerned about a US soil terrorist attack. Up to this point it has appeared as though an attack might benefit Shrubco's position. Right now I'm not too sure. I think an attack at this moment would make Shrubco's claim of increasing safety for the US sheeple ring a whole lot hollow. I doubt if I'm the only one thinking this and considering the actions in Spain and other places recently, it will be more of a concern to me until we get past the elections or the Diebold follies as some would call it. Perhaps they will be satisifed simply making Iraq more ugly, if that's possible. We hear in Stoolville are a global community, but predominantly our ranks are Americans. The Americans here in B4 the Bell are predominantly anti-Shrub ( I'm guessing about a 2:1). That doesn't makes us pro Kerry necessarily, IMO it's more of a "anybody but" stance. Like some of the others here I am against the one-world concept for the same reason I'm against mono-culture forests. Diversity is essential for survival. In that vein the original concept of the UN was not really a bad thing, but like any other large organization over time they have morphed into just another bloated bureaucracy driven by mysterious agendas. If Machinehead offers you some chocolate cream pie, I'd inquire as to the exact nature of the whipped cream toping before chowing down. Link to comment Share on other sites More sharing options...
DrStool Posted October 1, 2004 Report Share Posted October 1, 2004 I didn't watch the debate. I already know who won. Bush. People will vote for Bush because they think he went to war on the basis of faulty information. They will ignore the fact that he got exactly the information he wanted, because he's a beer swilling, pretzel eating, pickup truck driving regular guy who cares about people like us. This is what happens when you grow up in a society where truth is lies. Most people in this country believe that legal limits should be placed on free speech. Did you know that? They don't want the truth. They can't handle the truth. They want to live in the lie. They like it there. As an aside, the other night, I was watching the final Expos game in Montreal on TV. Big crowd. When the lady began to sing the US national anthem, a noticeable booing began to well up from the crowd. The majority, horrified, then began to applaud, drowning out the boos. God forbid, we offend the massa, was my thought. Link to comment Share on other sites More sharing options...
machinehead Posted October 1, 2004 Report Share Posted October 1, 2004 Gary North quotes Dr. Jiang Ruiping's seminal article in the Sep. 28th China Daily: To ward off foreign exchange risks, China needs to readjust the current structure, increasing the proportion of the euro in its foreign exchange reserves. Considering the improving Sino-Japanese trade relations, more Japanese yen may also become an option. During the January?June period this year, the proportion of China's trade volume with the United States, Japan and Europe to its total trade volume was 36.5 per cent, 28.6 per cent and 37.4 per cent respectively. Obviously, seen from the perspective of foreign trade relations, the US dollar makes up too large a proportion of China's foreign exchange reserves. Using US assets to increase the strategic resource reserves, such as oil reserves, could be another alternative. North goes on: "In short, sell T-bills, buy oil, and stick the OPEC political regimes with a high-risk currency. That would move the flow of oil toward China rather than the rest of the world. Better to stock up on oil than T-bills." Dump the dollah Link to comment Share on other sites More sharing options...
trinharder Posted October 1, 2004 Report Share Posted October 1, 2004 China recommits to flexible yuan By Ciara Linnane WASHINGTON (CBS.MW) -- Chinese finance officials repeated their commitment to move toward flexible, market-based foreign exchange rates on Friday after joint consultations with U.S. economic officials on Thursday. China recommited itself to reform the banking sector and to create strong capital markets. The U.S. said it supported a move toward a flexible exchange rate "as soon as possible." http://cbs.marketwatch.com/news/newsfinder...e=&categories=& Good for a few points in the futs. Link to comment Share on other sites More sharing options...
DrStool Posted October 1, 2004 Report Share Posted October 1, 2004 The idea of nationhood in this world is becoming a relic. Global corporations run things. They own the politicians. Nations are an artifact. This is one world, like it or not. The real bosses are GE, XOM, C, JPM, WMT, China Inc. and a few others. MSFT would be, but they have made so many enemies they are losing a popular uprising guerilla war. Eventually, if you offend and step on enough people, they will rise up. Not in the US of course, where people just want their SOMA, but in the rest of the world. Link to comment Share on other sites More sharing options...
DrStool Posted October 1, 2004 Report Share Posted October 1, 2004 In the Top Zone Move Goes Parabolic Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW! 30 Day Intro Subscribatory. Just $16.99! Get In RIGHT NOW! Link to comment Share on other sites More sharing options...
GregFokker Posted October 1, 2004 Report Share Posted October 1, 2004 I didn't watch the debate. I already know who won. Bush. People will vote for Bush because they think he went to war on the basis of faulty information. They will ignore the fact that he got exactly the information he wanted, because he's a beer swilling, pretzel eating, pickup truck driving regular guy who cares about people like us. This is what happens when you grow up in a society where truth is lies. Most people in this country believe that legal limits should be placed on free speech. Did you know that? They don't want the truth. They can't handle the truth. They want to live in the lie. They like it there. What he said. Link to comment Share on other sites More sharing options...
Hiding Bear Posted October 1, 2004 Author Report Share Posted October 1, 2004 Gary North quotes Dr. Jiang Ruiping's seminal article in the Sep. 28th China Daily: To ward off foreign exchange risks, China needs to readjust the current structure, increasing the proportion of the euro in its foreign exchange reserves.? ? ? ? ? ? ? ? ?? Considering the improving Sino-Japanese trade relations, more Japanese yen may also become an option. During the January?June period this year, the proportion of China's trade volume with the United States, Japan and Europe to its total trade volume was 36.5 per cent, 28.6 per cent and 37.4 per cent respectively. Obviously, seen from the perspective of foreign trade relations, the US dollar makes up too large a proportion of China's foreign exchange reserves. Using US assets to increase the strategic resource reserves, such as oil reserves, could be another alternative. North goes on: "In short, sell T-bills, buy oil, and stick the OPEC political regimes with a high-risk currency. That would move the flow of oil toward China rather than the rest of the world. Better to stock up on oil than T-bills." Dump the dollah China is already accumulating oil in its version of a Strategic Petroleum Reserve. Just this week China has entered into numerous deals to acquire all kinds of base metals. When it is also considered that Chinese banking problems have been shored up with dollar reserves, it doesn't look like China intends to keep the dollars they accumulated. Link to comment Share on other sites More sharing options...
purdymouth Posted October 1, 2004 Report Share Posted October 1, 2004 futures Link to comment Share on other sites More sharing options...
depends Posted October 1, 2004 Report Share Posted October 1, 2004 Lovely rant Doc. I watched the Devil Rays in Japan on TV and the beautiful Nipponese lady who sang 'In the land of the Rree...' no heckling there - it's not socially acceptable in baseball. Link to comment Share on other sites More sharing options...
purdymouth Posted October 1, 2004 Report Share Posted October 1, 2004 http://www.guardian.co.uk/usa/story/0,12271,1317386,00.html He is the conservative bastion of the US supreme court, a favourite of President Bush, and a hunting partner of the vice-president. He has argued vociferously against abortion rights, and in favour of anti-sodomy laws. But it turns out that there is another side to Justice Antonin Scalia: he thinks Americans ought to be having more orgies. [...] "I even take the position that sexual orgies eliminate social tensions and ought to be encouraged." Link to comment Share on other sites More sharing options...
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