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Charles is the interview?
“<span
>TAYLOR<span
>: No, actually Homestake's share price
initially fell too from $83.50 just before the crash to $65 about two weeks
after the crash. So perhaps the law of substitution did initially apply. But
from November 15th and thereafter, Homestake's shares rose dramatically, to a
high of over $500 by 1936. And during 1932, when the DJIA had lost 90%, <span
class=SpellE>Homestake's shares had reached $162. So investors who
diversified their portfolios with a little Homestake
were able to travel through the Great Depression relatively unscathed, while
those who owned only the Dow Jones Industrials, were
devastated.”
<a
href="">http://www.usagold.com/TaylorBatraCrash.html
Duke Jones, CMT
Longboat Global
Advisors, LLC
www.longboatglobal.com
www.sectorrotationfund.com
<span
>-----Original Message-----
From: Charles Meyer
[mailto:chaze@xxxxxxxx]
Sent: <st1:date
Month="2" Day="23" Year="2004">Monday, February 23, 2004<font
size=2 face=Tahoma> <st1:time
Hour="14" Minute="26">2:26 PM<span
>
To: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] HOMESTAKE MINING $
GOLD
<span
>
<span
>Thank you Duke-
<span
>
<span
>Unfortunately; a google search
didn't turn up the article referenced. In this article;
he referenced the fact that the price of
<span
>Homestake Mining SOARED during the
depression of the 30's. How odd is this; or difficult to understand;
given that the
<span
>economy at that time was undergoing
massive deflationary pressures? I can only suppose that it has something
to do with
<span
>the following historical events; on
which I would like someone to please comment? I suppose the question I'm
asking is that
<span
>if the economy teeters towards
deflation; can't a case be again made for gold? Many feel that gold
will not be a good
<span
>investment in a deflationary
scenerio.
<span
>
<span
>============================================
<span
>
<span
>"An aftermath of the Panic of
1929 was a wave of currency hoarding and gold withdrawals which resulted in the
failure of 5,504 banks between 1930 and 1933. Commodity prices sank to
their lowest levels in 20 years. To restore confidence in the banks, to
stop the gold drain, and to bring about higher commodity prices, President
Roosesvelt issued a proclamation of <st1:date Month="3" Day="6"
Year="1933">March 6, 1933<span
>,
<span
>
<span
>* closing all the banks in the
courtry for 4 days,
<span
>* placing an embargo on the
export of gold, silver and currency during that period, and
<span
>* ordering that gold and
silver could not be exported or withdrawn except on a license from the Treasury
Department.
<span
>
<span
>The President's actions were
confirmed by Congress in the Emergency Banking Relief Act of <st1:date
Month="3" Day="9" Year="1933">March 9, 1933<font size=2
face=Arial>, which also
authorized the Secretary of Treasury to call in all gold and gold certificates
in the country. The foregoing government actions took the <font
size=2 face=Arial>U.S.<font
size=2 face=Arial> off the
gold standard and made it illegal for <font
size=2 face=Arial>U.S.<font
size=2 face=Arial> citizens to
own gold."
<span
>
<span
>From "Historical Survey--Gold
Prices" by David Williams......CYCLES Sep/Oct 1981.
<span
>
<span
>Prior to <font
size=2 face=Arial>Roosevelt<font
size=2 face=Arial>'s actions;
gold was selling around $20/oz. Here is some pricing info after <font
size=2 face=Arial>Roosevelt<font
size=2 face=Arial>'s actions:
<span
>
<span
>"The money panic was
checked. Then the President authorized the Secretary of the Treasure to
buy gold at higher prices, viz. $29.62 an ounce at the end of August 1933,
$31.36 on <font size=2
face=Arial>October 25, 1933<font
size=2 face=Arial>, $34.06 on <st1:date
Month="12" Day="18" Year="1933">December 18, 1933<font
size=2 face=Arial> and $35 on <st1:date
Month="1" Day="31" Year="1934">January 31, 1934<font
size=2 face=Arial>; at which
level it remained for the next 37 years and the dollar was only worth
59.06."
<span
>=============================================================
<span
> Thanks for any thoughts or
comments.
<span
>
<span
>Chas
<span
>----- Original Message -----
<font size=2
face=Arial>From:<font
size=2 face=Arial> <a
href=""
title="Duke.Jones@xxxxxxxxxxxxxxxxxxxxxx">Duke Jones, CMT
<span
>To:<font
size=2 face=Arial> <a
href="" title="realtraders@xxxxxxxxxxxxxxx">realtraders@xxxxxxxxxxxxxxx
<span
>Sent:<font
size=2 face=Arial> <st1:date
Month="2" Day="23" Year="2004">Monday, February 23, 2004<font
size=2 face=Arial> <st1:time
Hour="14" Minute="3">2:03 PM<span
>
<span
>Subject:<font
size=2 face=Arial> RE: [RT]
GEN: ECONOMIST FROM SMU: DR BARTA?
<span
>
<font size=2 color=navy
face=Arial>Ravi<font
size=2 color=navy face=Arial> Batra
<span
>
<font size=2 color=blue
face=Tahoma>Duke Jones, CMT
<font size=2 color=blue
face=Tahoma>Longboat Global Advisors, LLC
<font size=2 color=blue
face=Tahoma>www.longboatglobal.com
<font size=2 color=blue
face=Tahoma>www.sectorrotationfund.com
<span
>
<span
>-----Original Message-----
From: Charles Meyer
[mailto:chaze@xxxxxxxx]
Sent: <st1:date
Month="2" Day="23" Year="2004">Monday, February 23, 2004<font
size=2 face=Tahoma> <st1:time
Hour="13" Minute="59">1:59 PM<span
>
To: REAL TRADERS
Subject: [RT] GEN: ECONOMIST FROM
SMU: DR BARTA?
<span
>
<span
>Group-
<span
>
<span
>Can someone please provide me with
the name of the economist at SMU who wrote those controversial books about the
<span
>impending implosion of the <font
size=2 face=Arial>U.S.<font
size=2 face=Arial>
economy? Of course he's been wrong; but there was an old interview with
him I wanted to
<span
>again access. Unforunately; I
don't recall his correct name. Thanks for any feedback.
<span
>
<span
>Chas
<span
>
<span
>
<span
>---
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