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Program for June 13-14 Vancouver conference announced
By Jim Sinclair
Wednesday, June 2, 2004
Oil is a weapon of economic destruction in this Third
World War, and the U.S. dollar is a prime target of
those who oppose us.
Is the Federal Reserve expecting catastrophe?
From Robert McHugh's monetary forecast of May 28,
which was echoed by Richard Russell today:
"Let me just say from the outset that the Federal
Reserve has confirmed our stock market crash
forecast by raising the money supply (M-3) by
crisis proportions, up another $46.8 billion this past
week. What awful calamity do they see? Something is
up. This is unprecedented, unheard-of pre-catastrophe
M-3 expansion. M-3 is up an amount that we've never
seen before without a crisis -- $155 billion over the
past four weeks, a $2.0 trillion annualized pace, a
22.2 percent annualized rate of growth. There must
be a crisis of historic proportions coming, and the
Federal Reserve Bank of the United States is making
sure that there is enough liquidity in place to protect
our nation's fragile financial system. The amazing
thing is that the Fed's actions mean THEY KNOW
what is about to happen."
My commentary:
Yes, there is a crisis pending, but that crisis is
the cessation of yen intervention by the Bank of
Japan. What the Japanese are doing is shutting
down the Bernanke Electronic Money Printing
Machine, which, during its last month of operation,
produced $72 billion in stimulation across all U.S.
Treasury maturities in a transaction that cannot
be reversed when the Fed wishes to drain liquidity.
The Fed had to step in to fill the void left behind by
its traditional means of expanding monetary
aggregates, which is a less efficient method of
expanding liquidity. Because the Fed's means of
increasing aggregates does not pack the liquidity
wallop of Bernnake's invention, the amount the
Fed has to expand money supply is orders of
magnitude times the Japanese experience
simply to hold the bond market where it is.
The other part of the crisis reason to act is the
Fed's traditional role in supporting the incumbent
seeking re-election. If the Fed failed to step into
the liquidity vacuum created by Japan'sr departure
from supporting the yen, the U.S. treasury market
would have imploded to new lows and the equity
market would have been dragged into that black
hole by the irresistible force of gravity of the U.S.
treasury market flop. The next item to be dragged
into that black hole would be the political
ambitions of the incumbent.
One thing is certain. Hyperinflation in a slow
business environment during 2005 is what this
entire thing means. Gold is all that benefits from
this madness, but that is much too complex for
the knuckle-dragging morons of the Comex to
comprehend.
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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)
Subscription site:
http://www.lemetropolecafe.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com
Centennial Precious Metals
3033 East 1st Ave., Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
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