|
| Author |
Message |
    
True_indian
Bewarse
Username: True_indian
Post Number: 2180
Registered: 03-2004
Posted From: 65.184.22.233
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, February 22, 2005 - 8:28 pm: |    |
GG mama
koddiga busy plus bewarse posts koddiga taggincha, prati post ki ediche public unnaru anduke not chit chating this days
anyway hope it crosses 450 easily
try everbank.com for newzealand cd 3 months ki 5.6 interest rate plus dollar rate padite more money back |
Aswaddhama
Bewarse
Username: Aswaddhama
Post Number: 1295
Registered: 06-2004
Posted From: 65.102.201.130
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, February 22, 2005 - 8:23 pm: | |
emi sandrudu ..atepu thaguuthunnada ... |
Sollu
Vooriki Bewarse
Username: Sollu
Post Number: 4117
Registered: 03-2004
Posted From: 144.160.130.16
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, February 22, 2005 - 8:10 pm: | |
GG babai ellundi varake....malli 25th nunchi kastha digu mukham pattachu....KIKIKIKI
lets wait and see |
Aswaddhama
Bewarse
Username: Aswaddhama
Post Number: 1293
Registered: 06-2004
Posted From: 65.102.201.130
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, February 22, 2005 - 8:05 pm: | |
TI mama thanks ...repatiki mana rate vachhesatdi 
THanks for the info ...
How are you ....long time no see ..busy a ... |
Sollu
Vooriki Bewarse
Username: Sollu
Post Number: 4114
Registered: 03-2004
Posted From: 144.160.130.16
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, February 22, 2005 - 7:39 pm: | |
babai sana pedda post laga undi.....kani increase too muchlaga undi kada......correct time ki naa daggara paisal levu
target matram gattiga undi........good babai meeku nastam rakunda undi
netho matadatha babai kasepatilo...intiki bayaldeuthunna ippudu |
True_indian
Bewarse
Username: True_indian
Post Number: 2179
Registered: 03-2004
Posted From: 65.184.22.233
Rating: 
Votes: 2 (Vote!) | | Posted on Tuesday, February 22, 2005 - 7:33 pm: | |
This is From Jim Sinclair, I subscribe to his news from jsmineset.com
Dear CIGA (Comrades in Golden Arms)
What we have spoken about so many times when defining key elements of a long term bull market in gold has in fact started to happen. This is only the first of the predicted central bank reactions to a significantly lower US dollar versus the over-the-top US Treasury debt positions they hold.
The real news is not the South Korean Central bank’s desire to diversify its reserves with a preference for other currencies as replacement of a percentage of the dollar denominated treasury instruments it holds. The event of note in today's market and in the markets to follow is the report of how many central banks around the world took the same action last year.
So the real news then is that 52% of world central banks have started to diversify their reserves out of the US dollar. We declared the end of the US dollar as the universal reserve currency over a year ago when this trend first surfaced. Now that it's publicly reported that the majority of world central banks have in fact taken this action, short covering rallies in the US dollar, when they occur, will not reach their maximum price objective.
Rallies in the US dollar will only confirm in a classic sense head and shoulders formations that simply pollute the entire decline in the US dollar since it began. This report and its impact upon traders strengthens my belief that after some more simple market noise and market drama, the US dollar will trade below the now important level of .8140 -.8160, giving strong indication that .8000 then is but a weak line drawn in the shifting sand of currency trading.
As the US dollar makes new lows, gold will I believe make new highs. In my opinion, $470 - $480 is the pull from the front that has not lost it grip even for a minute regardless of the naysayers that inhibit, influence, and have spoiled the good chances offered many times so far in the gold market.
It is only the true believers that are going to reap the harvest this time around. Most that read and listen to the "trade everything all the time" people will be sitting out the major move when it comes - not “if” it comes. As far as gold shares are concerned, as in the 70s, I believe that gold shares will significantly outperform gold itself.
There was then on the American Stock Exchange a bread making company called Gold Bond. It used to rally significantly every time the gold shares ran higher. The reason I share this strange piece of information with you is that in time simply the word gold will impact a situation. Those well-managed, properly financed companies in compliance with the strict governance rules of today will reward your patience. The liquidation now of anything gold is simply complete madness, emanating from the lower classes in the market.
The options for financing the US Budget Deficit become grim with the demise of the US dollar as the world's universally accepted reserve asset. It is the non-US purchases of US Treasury instruments in light of the US Trade Deficit that pays the bills at home.
When 52% of the world's central banks have declared that they are not just buyers but are sellers of a percentage of their US dollar holdings "times are a changin." The key factor here is not the percentage of their holdings that they are willing to liquidate but rather that they are NO LONGER buyers of US debt instruments. That is a dynamic switch in the marketplace. I would imagine that the other 48% are not now motivated to pick up the slack so let's watch those TIC figures closely.
There is a domino effect hovering around the US dollar. Should the non-US purchases of US Treasuries continue their decline, experiencing two consecutive months reporting of less instruments purchased by non-US entities than the amount required to finance the US Federal Budget deficit measured by comparison to the US Trade Balance, the US dollar will be blasted lower. A lower US dollar, certainly one below the .8000 level, will then push the balance of the 48% of world central banks to join their brothers as at least NON buyers of US Treasury instruments.
Here is my next prediction. Before 2007, the majority of world central banks will do the unbelievable: they will become gold buyers. Any gold the IMF seeks to sell, which is a stretch of the imagination anyway, will be purchased by CHINA just like it was the last time. No IMF gold, if sold, will see the open market - not one ounce. Because of the systemic dollar problem and the excessive dollar inventories held by central banks- especially in Asia - gold buying by official entities will NOT be a short term phenomenon. From late 2006 until 2011, I will go on record as telling you that the primary buyer of gold will be just those who for two decades have pedantically derided the noble metal.
This analysis draws from past performances, present time systemic dollar problems, the reality that the euro is a basket of junk gaining its value from being named something that isn't a country, and the small capitalization of other alternatives such as the Swiss Franc.
Gold is the only monetary item whose supply is limited. Therefore, as demand increases the practical result must be significant increases in the price of gold. God help those entities that have gold derivatives in their books. God help those entities that have financed with non-recourse loans with gold derivatives imbedded in the loan agreement so they can be keep off the books and hidden from the stockholders.
Dollar Weakens as Bank of Korea Plans to Diversify Reserves
Feb. 22 (Bloomberg) -- The dollar fell the most in more than four months against the yen and dropped versus the euro, Korean won and at least 30 other currencies after the Bank of Korea said it plans to diversify its reserves.
South Korea's central bank, which has a total of $200 billion in reserves, said in a Feb. 18 report to a parliamentary committee it will increase investments in assets denominated in currencies such as the Australian and Canadian dollars. The country's reserves are the world's fourth biggest, behind Japan, China and Taiwan, according to data compiled by Bloomberg.
``The market will now be looking to other central banks and what they will be doing, including the European central banks and Middle Eastern banks,'' said Mansoor Mohi-Uddin, head of currency strategy at UBS AG in London. ``The market has got nervous and has continued selling the dollar.''
more..
God help those juniors who are so stupid that they do not even know that they are at risk. God help the wise guys that have illegally shorted the junior mining group. Good luck to the brave ones that are short legally. May the wind be at their back and may they cover their gutsy positions before the grim reaper reaps them big time.
At my company's Annual Meeting in Toronto yesterday I was asked how to identify any company that has a derivative risk if there isn't one outlined in the risk factor section of their financial statements. The answer is simple: Ask management if they have or if the project is financed (perhaps by a major) with a non-recourse loan. If the answer is yes then in all probability the company in question has a derivative risk that could eliminate their ownership of their percentage interest in the property in question. At a minimum, it could dilute the junior to a percentage of net profits which means not much of anything. This is because few mines make a profit at the mine head.
There is a means to protect against this risk that few if any companies are utilizing. I do not face such a risk, but if I did I would seek to straddle the risk by being long gold on the same basis time wise, making the deal with some subsidiary of the international lending entity that was the grantor of the short of gold derivative that allowed the lender to make the loan for development of the property that has the derivative imbedded in the loan agreement, Because the instrument is simply the loan agreement, the short of gold derivative does not exist on the books of the major. The more that rules are made, the more loopholes appear.
The other cute reality of these extremely dangerous instruments, the short of gold derivative, is that in many cases they simply cannot be unwound. The reason for this is that between 1991 and now, most of the derivatives were not buried in the loan agreement but were put on directly by the gold producer. During the long bear market, they are to be congratulated for having made billions even if they almost destroyed the industry.
Almost every new development during this period was financed this way. To get rid of those derivates the loan must be paid off or renegotiated as a recourse loan.
"No derivative = violation of the loan agreement = an immediate call in of the balance of the loan outstanding"
This is in my opinion the primary reason why derivatives remain on the books of some producers.
Conclusion
Shorts that did not cover before are focused tightly on the USDX at .8150, making that number a key level of make or break on whatever residue there is of the dollar rally that had so many going wild only a few days ago. This dollar rally - like all those before it - was only one more classical pullback and fall away in a chart so dire that it makes Enron look solid.
The systemic problem is not as the static thinkers keep telling you, a picture in time, and the last reported deficit position. The problem with the dollar is the accumulated red ink looking at wars and decisions driven ideologically, not long term goals, plans and objectives based on disciplined economic and political principles. That being said, we have not seen anything compared to the juggernaut of political and now ideological expediency that's coming.
Add to that the misconception that the end justifies the means, the takeover of the US intelligence body, and the making permanent via computer based gerrymandering of legislative representatives supporting the current administration and you have the formula for economic Armageddon before 2013. It will not take until then for gold to reach its high side and the dollar its low to register the coming of the four horsemen of the apocalypse, price inflation, dollar depreciation, deflation in terms of debt roll-over and gold equal in price times the amount of US debt instruments held internationally.
When the book is written on this event and the many reasons are examined why the US dollar failed, I believe the award will go to the Bernanke Electric Mayhem Money Printing Machine as the non-traditional method of an international liquidity explosion that could not be undone. This phenomenon will be labeled as the event that broke the back and therefore willingness to stay long dollar instruments of those dollar holders that rode camels historically.
|
|
|
|
