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Katwomyn

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In reply to: sabretoothed on Wednesday 14/12/05 05:30am

 

Another view on where correction could find support.

 

My long term view is still USD$700+ by end of 2006.

 

From Kitco site 13/12. Written by Reuters

"Now that gold appears to have snapped its winning streak further liquidation is possible,

with lots of room on the downside before we reach the first significant chart point at USD$494, Standard Bank said."

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US, EU outraged over Iranian president's Holocaust comments

 

The United States and European Union has expressed outrage and shock after Iranian President Mahmoud Ahmadinejad described the Holocaust as a "myth".

 

The President ignited worldwide condemnation when he made the comments in a televised speech in which he also said that the state of Israel should be moved as far away as Alaska.

 

"I think all responsible leaders in the international community recognise how outrageous such comments are," White House spokesman Scott McClellan said.

 

In Europe, governments issued angry statements condemning the speech, which followed comments last week by Ahmadinejad doubting the Holocaust.

 

"The comments are wholly unacceptable and we condemn them unreservedly. They have no place in civilised political debate," Britain's Minister for Europe Douglas Alexander said, whose country currently holds the EU presidency.

 

Mr Alexander, speaking in Strasbourg to the applause of European parliamentarians, says "the presidency has been unequivocal in its condemnation of the comments attributed to President Ahmadinejad of Iran".

Suspicions

 

With Germany, France and Britain tentatively due to hold talks with Iran over its disputed nuclear program, US and European officials said Mr Ahmadinejad's words reinforced suspicions about Tehran's nuclear ambitions.

 

"His comments and statements only underscore why it is so important that the international community continue to work together to keep Iran from developing nuclear weapons," Mr McClellan said.

 

German Foreign Minister Frank-Walter Steinmeier says the Iranian President's remarks were "shocking and totally unacceptable".

 

Mr Steinmeier said that in the absence of the Iranian ambassador, the government on Monday had called in Iran's charge d'affaires in Germany to signal its disapproval of the President's previous outburst.

Israel 'tumour'

 

In October, Mr Ahmadinejad said Israel "must be wiped off the map" and last week he described the country as a "tumour" and said it should be moved to Germany or Austria.

 

On Wednesday, he said: "They have invented a myth that Jews were massacred and place this above God, religions and the prophets".

 

The president of the Central Council of Jews in Germany, Paul Spiegel, called Mr Ahmadinejad's speech "repulsive".

 

"I lost my sister and several other relatives in the Holocaust. Words fail one when one hears such unbearable utterances," he told the Tageszeitung.

 

France and Spain strongly condemned the Iranian president, with Paris saying in a statement that Mr Ahmadinejad's "declarations did not contribute to establishing a climate of confidence between Iran and the international community".

'Peverse vision'

 

Austrian President Heinz Fischer says Mr Ahmadinejad's verbal attacks against Jews and Israel are "unacceptable".

 

In Jerusalem, Prime Minister Ariel Sharon's spokesman says Mr Ahmadinejad's "perverse vision" should make clear to the world that the Iranian regime posed a dangerous threat that could not be explained away.

 

"We hope that these extremist declarations will make the world wake up to the nature of this regime - especially the fact that Iran's nuclear program and its support of international terrorism, represents not only a danger for Israel but for the entire Western civilisation," Mr Sharon's spokesman Raanan Gissin told AFP.

 

He vowed that Israel had the means to defend itself and would not allow for a second genocide of Jews.

Collision course

 

Commentators in and outside of Iran say Tehran is headed on a collision course with Western governments following Mr Ahmadinejad's remarks.

 

"A man who refuses to believe the historic truth is capable of anything," wrote Jonathan Freedland, a commentator for the British daily the Guardian.

 

http://www.abc.net.au/news/newsitems/200512/s1531261.htm

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In reply to: woteva on Thursday 15/12/05 09:10am

Yeah I noticed that, when's the next full moon mid jan?

 

 

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  • 2 weeks later...

http://www.theaustralian.news.com.au/commo...255E643,00.html

 

QUOTE
Central bank rumour ramps up the price

December 30, 2005

GOLD traded close to its highest level in two weeks yesterday on speculation central banks, the biggest holders of the metal, may buy more bullion to diversify their reserves.

The gold price has risen 4.9 per cent in the last seven days, helped by buying from jewellers and investors concerned over inflation, the US budget and current account deficits and currency values, according to analysts and traders.

China was expected to increase its gold holdings to 2500 tonnes from 600 tonnes, China Galaxy Securities economist Teng Tai said. However, other Chinese economists said high prices meant now was not a good time to buy, the official Xinhua News Agency reported.

"Prices are rising on tight supplies and the possibility central banks may increase their holdings," said Song Won Deog, head of Woori Futures Co's overseas futures team in Seoul. "Trading itself is thin at this time of year, so prices are volatile."

Gold for immediate delivery yesterday rose as much as $US1 ($1.37), or 0.2 per cent, to $US517.60 an ounce, the highest since December 14. The metal reached a 24-year high of $US541 on December 12.






Chinese jewellers might also be considering purchases before the Lunar New Year celebrations at the end of January, said James Moore, a precious metals analyst at the BullionDesk.com.

Increasing gold reserves to 2500 tonnes would make China the world's fifth-biggest holder of gold, behind the US, Germany, the International Monetary Fund and France. It is now the 10th-largest holder, the producer-funded World Gold Council says.

Russia's central bank said in November it might double its gold reserves. South Africa and Argentina have also said they might increase holdings. Central banks, mainly in the US and Europe, hold almost a fifth of the world's gold supply as a reserve asset.

"There does seem to be that speculation, and that's helping drive the Japanese trade," said Jonathan Barratt, head of foreign exchange and precious metals at Tricom Futures Pty in Sydney.

"The market is thinly traded and it's more market sentiment than anything."

Gold for delivery in December 2006 rose as much as 48 yen (56c), or 2.5 per cent, to Y1988 a gram on the Tokyo Commodity Exchange. The contract traded at Y1976 at 11am Tokyo time.

Gold for delivery in February rose as much as $US3.40, or 0.7 per cent, to $US519.70 an ounce in after-hours trading on the Comex division of the New York Mercantile Exchange.
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When's the next full moon?

 

 

 

From Reuters

Thursday, December 29, 2005

 

WASHINGTON -- U.S. Treasury Secretary John Snow warned lawmakers on

Thursday that a legally set limit on the government's ability to

borrow will be hit in mid-February and urged Congress to raise it

quickly.

 

Failure to do so potentially risks throwing the country into its

first default in history, Snow warned in what has become virtually

an annual rite as U.S. borrowing needs spiral.

 

"The administration now projects that the statutory debt limit,

currently $8.184 trillion, will be reached in mid-February 2006,"

Snow said in a letter to 21 members of the U.S. House of

Representatives and Senate released by Treasury after financial

markets had closed.

 

Snow said that Treasury, if the debt limit was not raised by then,

would have to take "extraordinary actions" to keep paying its bills

for everything from Social Security to national defense spending.

 

Even if Treasury took "all available prudent and legal actions to

avoid breaching the statutory debt limit, we anticipate that we can

finance government operations no longer than mid-March."

 

The debt limit was last raised in November 2004 by $800 billion to

its current level. The letter to Congress does not specify an amount

the Treasury wants the ceiling set at this time.

 

But he said quick action was needed to preserve the U.S. ability to

borrow in global capital markets at the lowest rates possible.

 

"A failure to increase the debt limit in a timely manner would

threaten this unique and important position," Snow said.

 

The call for an increase in the debt ceiling typically provokes a

round of criticism from opposition politicians over excessive

government spending and the process is drawn out until nearly the

last possible moment.

 

Treasury officials had said in November it was bracing for hefty

borrowing needs in the January-March quarter, likely around a record

$171 billion, and that it likely would hit the debt limit in that

period.

 

Among other factors, the Treasury cited increased spending for

rebuilding Gulf Coast areas hit hard by hurricanes Katrina and Rita.

 

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