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Duke or Group-
Any thoughts or comments re the timing of the move
made by the price of Homestake? Sounds like the low for HM
occurred sometime during the month of November,
1929; around $65. Thanks.
Chas
<BLOCKQUOTE dir=ltr
>
----- Original Message -----
<DIV
>From:
<A title=Duke.Jones@xxxxxxxxxxxxxxxxxxxxxx
href="">Duke Jones, CMT
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Monday, February 23, 2004 3:59
PM
Subject: RE: [RT] HOMESTAKE MINING $
GOLD
<SPAN
>Charles is the
interview?
<SPAN
>
<SPAN
>
<SPAN
>“<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.”
<SPAN
><A
href="">http://www.usagold.com/TaylorBatraCrash.html
<SPAN
>
<SPAN
>
<SPAN
>Duke
Jones, CMT
<SPAN
>Longboat
Global Advisors, LLC
<SPAN
>www.longboatglobal.com
<SPAN
>www.sectorrotationfund.com
<SPAN
>
<SPAN
>-----Original
Message-----From: Charles
Meyer [mailto:chaze@xxxxxxxx] <SPAN
>Sent: <st1:date Year="2004"
Day="23" Month="2"><SPAN
>Monday, February 23,
2004<SPAN
> <st1:time
Minute="26" Hour="14"><SPAN
>2:26
PM<SPAN
><SPAN
>To:
realtraders@xxxxxxxxxxxxxxx<SPAN
>Subject: [RT] HOMESTAKE MINING $
GOLD
<FONT face="Times New Roman"
size=3>
<SPAN
>Thank you
Duke-
<FONT face="Times New Roman"
size=3>
<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.
<FONT face="Times New Roman"
size=3>
<SPAN
>============================================
<FONT face="Times New Roman"
size=3>
<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 Year="1933"
Day="6" Month="3"><SPAN
>March 6,
1933<SPAN
>,
<FONT face="Times New Roman"
size=3>
<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.
<FONT face="Times New Roman"
size=3>
<SPAN
>The President's actions were
confirmed by Congress in the Emergency Banking Relief Act of
<FONT face=Arial
size=2>March 9,
1933<SPAN
>, which also authorized the
Secretary of Treasury to call in all gold and gold certificates in the
country. The foregoing government actions took the
<SPAN
>U.S.<FONT
face=Arial size=2> off the
gold standard and made it illegal for
<SPAN
>U.S.<FONT
face=Arial size=2> citizens
to own gold."
<FONT face="Times New Roman"
size=3>
<SPAN
>From "Historical Survey--Gold
Prices" by David Williams......CYCLES Sep/Oct
1981.
<FONT face="Times New Roman"
size=3>
<SPAN
>Prior
to <SPAN
>Roosevelt<FONT
face=Arial size=2>'s
actions; gold was selling around $20/oz. Here is some pricing info
after <SPAN
>Roosevelt<FONT
face=Arial size=2>'s
actions:
<FONT face="Times New Roman"
size=3>
<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
face=Arial size=2>October
25, 1933<SPAN
>, $34.06 on
<FONT face=Arial
size=2>December 18,
1933<SPAN
> and $35 on
<FONT face=Arial
size=2>January 31,
1934<SPAN
>; 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.
<FONT face="Times New Roman"
size=3>
<SPAN
>Chas
<BLOCKQUOTE
>
<SPAN
>----- Original Message -----
<FONT
face=Arial size=2><SPAN
>From:<FONT
face=Arial size=2> <A
title=Duke.Jones@xxxxxxxxxxxxxxxxxxxxxx
href="">Duke Jones, CMT
<FONT face=Arial
size=2><SPAN
>To:<FONT
face=Arial size=2> <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
<FONT face=Arial
size=2><SPAN
>Sent:<FONT
face=Arial size=2>
<FONT face=Arial
size=2>Monday, February
23, 2004<SPAN
> <st1:time
Minute="3" Hour="14"><SPAN
>2:03
PM<SPAN
>
<FONT face=Arial
size=2><SPAN
>Subject:<FONT
face=Arial size=2> RE:
[RT] GEN: ECONOMIST FROM SMU: DR BARTA?
<FONT face="Times New Roman"
size=3><SPAN
>
<FONT face=Arial
color=navy size=2><SPAN
>Ravi<FONT
face=Arial color=navy size=2><SPAN
>
Batra
<FONT face=Arial color=navy
size=2><SPAN
>
<FONT face=Tahoma color=blue
size=2><SPAN
>Duke
Jones, CMT
<FONT face=Tahoma color=blue
size=2><SPAN
>Longboat
Global Advisors, LLC
<FONT face=Tahoma color=blue
size=2><SPAN
><A
href="">www.longboatglobal.com
<FONT face=Tahoma color=blue
size=2><SPAN
><A
href="">www.sectorrotationfund.com
<FONT face=Arial color=navy
size=2><SPAN
>
<SPAN
>-----Original
Message-----From: Charles
Meyer [mailto:chaze@xxxxxxxx] <SPAN
>Sent: <st1:date
Year="2004" Day="23" Month="2"><SPAN
>Monday, February 23,
2004<SPAN
> <st1:time
Minute="59" Hour="13"><SPAN
>1:59
PM<SPAN
><SPAN
>To: REAL TRADERS<SPAN
>Subject: [RT] GEN: ECONOMIST FROM SMU:
DR BARTA?
<FONT face="Times New Roman"
size=3>
<SPAN
>Group-
<FONT face="Times New Roman"
size=3><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
<SPAN
>U.S.<FONT
face=Arial size=2>
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.
<FONT face="Times New Roman"
size=3><SPAN
>
<SPAN
>Chas
<FONT face="Courier New"
size=2><SPAN
>
<FONT face="Times New Roman"
size=3>
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