eva lets go of my arm to lift a hand to her throat, touching the string of pearls she has borrowed from my own bride, ruth, to whom i've been married thirty years. Love may last, i want to say, but don't, feeling unsure of my voice. Eva returns her free hand to my arm and tightens her grip. The arm she holds is my left one, close against my racing heart. In her own left arm she balances a great sheaf of flowers - daisies and lilies, marigolds, snapdragons, bee balm, feverfew - and in her left hand she holds a belgian lace handkerchief, also borrowed from. Ruth, in case she cries. The organ strikes up Bach's "Jesu, joy of Man's Desiring" for the bridesmaids' entrance, and down the aisle they skim, those gorgeous women in midnight blue.
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I realize they're gorgeous not because they carry bouquets or wear silk dresses, but because the festival of marriage has slowed time down until any fool can see their glory. Concerned that we might walk too fast, as we did in rehearsal, eva tries in vain to teach me a gliding ballet step to use as we process down the aisle. "It's really simple, daddy she says, as I botch it over and over. I fear that I will stagger along beside my elegant daughter like a veteran wounded in foreign wars. Eva, meanwhile, seems blissfully confident, not only of being able to walk gracefully, as she could do in her sleep, but of standing before this congregation and solemnly promising to share her life with Matthew Allen, the man who waits in thinly disguised turmoil. Poised tax on the dais, wearing a black ministerial robe and a white stole, is the good friend whom eva and i know best as our guide on canoe trips through the boundary waters. He grins so broadly that his full cheeks push up against the round rims of his spectacles. "There's one happy preacher eva says. "He believes in marriage i reply. Remember, matt and I figured that between you and Mom and his folks, our parents have been married fifty-eight years.
Lyndon Johnson's 1964 presidential campaign against Barry goldwater ran a television spot based on the deleted stanza. Starting with a young girl pulling petals from a daisy while a voice intoned the countdown, the ad ended with a nuclear mushroom cloud and the voice mi"ng the final line. After President Johnson put an army of more than half a million men into vietnam, auden struck the whole poem from subsequent editions of his works. In today's world, where the imperatives yardage of power and prosperity in the developed nations regularly trump concern for the less developed, "September 1, 1939" - in lines never changed or repudiated - speaks hauntingly to the g-10 governments and their satellite international financial institutions: But. Free title page bibliography page proofreading revision 10 days -.95/page7 days -.95/page4 days -.95/page48 hours -.95/page24 hours -.95/page12 hours -.95/page6 hours -.95/page 1 page - 250 words2 pages - 500 words3 pages - 750 words words words words. Beauty by, scott Russell Sanders, in memory, i wait beside eva in the vestibule of the church to play my bit part as father of the bride. She hooks a hand on my elbow while three bridesmaids fuss over her, fixing the gauzy veil, spreading the long ivory train of her gown, tucking into her bun a loose strand of hair, which glows the color of honey filled with sunlight. Clumsy in my rented patent leather shoes and stiff black tuxedo, i stand among these gorgeous women like a crow among doves.
Someone, probably a fund or a brokerage house, moves in and buys just enough to move the listing dow up 15 to 25 points and in the same percentages with the." Linked, coordinated manipulation of gold and stocks poses the danger that disclosure. In that event, spiking gold with a sinking dollar and a collapsing Dow in an already-slowing economy will be two sides of the same coin. Given egregious misvaluations of both gold and stocks plus a gargantuan trade deficit with no historical precedent, the ingredients are at hand for an economic crisis on a scale not seen since the Great Depression. The scenario from "Gold or Dross? Political Derivatives in Campaign 2000 is looming ever larger. ( mlanchor48727 12) As the germans advanced into poland,. Auden penned "September 1, 1939 "As the clever hopes expire / Of a low dishonest decade. One stanza's final line we must love one another or die was so misinterpreted and misused that the poet removed the entire stanza from the 1945 collection of his works.
In a recent article ( ml 10) "New York Strangulation of World Gold Market - 1 year harry Clawar updates his data on gold price increases overseas and their cancellation by selling on the comex. For the year beginning Jan. 25, 2000, when his study started, net overseas price increases amounted to 160/ounce, while net decreases in New York equaled 173/ounce. Meanwhile, as shown in mlanchor161737, 11 Gold Market Regression Charts that mike bolser continues to update as new data becomes available, the intuitively contradictory trends of strong physical demand and shrinking markets for paper gold continue to manifest themselves. The latter trend is also quite apparent in reduced turnover and open interest in gold contracts on the tocom, which mike does not chart. Richard Russell has been watching markets and writing about them almost since the day he returned from World War ii service in bombers over Europe. His Dow Theory letters is among the oldest and most successful investment publications. 24, 2001, he wrote: "I don't, as a rule, believe in manipulation in the markets, but if there are two areas of manipulation they are 1) gold - every time gold sticks its little yellow head up, someone, somewhere brings a hammer down on that. Ouch." Turning to Area 2, he continued: "The dow and the s p - watch the last 15 minutes of every session.
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Speaking of the new York fed, after dropping to low or negligible levels from April through August, withdrawals of gold from earmarked foreign and international accounts have run at a heavy pace in the months since: 40 tonnes in September, 41 in October, and. Added to the heavy outflows in the first quarter, total withdrawals in the first 11 months of 2000 equal 315 tonnes, or more than the full year totals of 302 tonnes for 1999 and 309 tonnes for 1998. My hunch is that much of this official outflow is imf gold deposited with - and loaned out by - the bis. I also suspect that part of the reason for the compulsory freeze-out of the bis's private shareholders is to avoid publication of annual financial reports that might disclose some of this activity. G., commentary dated June 11, 2000 ( mlanchor134137 8) "Central Banks.
Gold: Winning Battles but resume Losing the war?" (This commentary also contains a chart showing monthly outflows of foreign-earmarked gold from January 1997 through March 2000.) As shown graphically in a prior commentary ( mlanchor10789 9) "Cycles of Manipulation: comex option Expiration days and boe auctions. Don Lindley reports that immediately following the last auction on Jan. 23, his "option cube" turned from a bullish bias toward 280/ounce to sharply bearish, suggesting a decline to 260 or lower. The basic pattern seems to be that the auctions provide the delta for the bullion banks to write calls, which traders then use to support bear raids on the futures. In any event, the timing of the British auctions betrays their true purpose.
That's the basis upon which this decision has been made here at the board, and it was one which we probably would not have addressed in any meaningful way had not the altered nature of the bis itself become imminent." A few days after this. Greenspan and McDonough would assume the two seats on its board reserved for the American issue of bis shares, and that the governors of the bank of Canada and Bank of Japan had also been elected to the board. Thus, with inclusion of the United States, the board would henceforth consist of the g-10 countries. As the International Monetary fund has already demonstrated, nothing is more dangerous to economic growth and democratic progress in developing nations than an obsolete international financial institution cut adrift from the developed world and left to save itself by trying to help the less-developed. No one ever seems to ask how the developed world developed without these institutions.
Like the International Monetary fund, the bis sails today on a monetary course for which it was neither designed nor intended. Article 20 of its Statutes still commands: "The operations of the bank for its own account shall only be carried out in currencies which in the opinion of the board satisfy the practical requirements of the gold or gold exchange standard." Among the standing committees. Exactly what this committee does in the area of gold, including why it has not suggested amendment or deletion of Article 20, is an obvious subject for discovery in my lawsuit, as well as for direct inquiry by several gold-producing nations of Africa which are. One clue is (or was) available online. Until about two weeks ago, the last sentence of the first paragraph of the biographical summary for Peter. Fisher, head of the new York fed's markets group, read: "he also is a member of the bank's Management Committee and serves on the gold and Foreign Exchange committee of the g-10 central banks." ( ml 7) On Feb. 6, 2001, this sentence was deleted while the rest of the biography remained unchanged. (A "Google" search for "Peter Fisher committee gold" will still turn up a reference to the missing sentence.) Fisher is widely reported to have played a major role in the fed- orchestrated rescue of Long-Term Capital Management, which according to reliable sources was short 300. Hard to believe that the presumed captain of the Plunge Protection team has lost these prestigious committee appointments, and only a few days after a gata supporter found his online biography too.
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As reflected in the trascript of the federal Open Market Committee's conference call of July 20, 1994, ( 6 f) this transformation stems from the Treaty of maastricht, which put the european Monetary Institute followed by the european Central Bank on track to replace the. To avoid being sidelined as irrelevant, the bis undertook to reinvent itself as a global financial institution, an effort that the ever-opportunistic. Federal Reserve chairman Alan Greenspan was only too pleased to support. As the fed chairman explained to the fomc: "Up until the maastrich Treaty, our relationships with the bis seemed to be appropriately constrained to our periodic visits over there to deal with the g-10 on a consultative basis and to be involved with a number. With the advent of the maastrich Treaty and the development of the european Monetary Institute, the potential of the bis being effectively neutered because of the overlap in jurisdictions of the emi and the bis has led the bis to move toward a much more. That would significantly alter its character from a largely though not exclusively european managed operation to one which is far more global in nature. It is possible, perhaps probable, that the bis as a consequence will become a much larger player on the world scene. "It was our judgment that it would be advisable for us to be involved in the managerial changes that are about to be initiated rather than to stay on the sidelines, as we essay chose to do through all those decades when we did not want. In contradistinction to that, we think it is important to be an active player in the development of this institution to make certain that we as the principal international financial player have a significant amount to say in the evolution of the institution.
The share overall profits of their parent companies, Anglo American and TrizecHahn, are far more dependent on continued strength in the g-10 economies than on higher gold prices. One analyst ( m/group/gata/message/648 4) estimates that gold at 600 per ounce would add one full percentage point to the economic growth rate of south Africa, where currently each gold miner supports an average of 11 to 12 others. But however warranted by fundamentals, a price increase of this magnitude would unmask the short gold position of the bullion banks, threatening the very consequences that so frightened Eddie george, governor of the bank of England, in the wake of the washington Agreement. (see mlanchor3130 5, complaint, paragraph.) Accordingly, viewed in the larger context of Anglo American's interests rather than just AngloGold's, it is not surprising that Kelvin Williams at Indaba described a shortage of physical gold as a glut, or that he tried to deflect the. Leaders of struggling new democratic regimes in the gold-producing nations of Africa should not fall for the g-10's shills. Rather, as African leaders evaluate the evidence of gold price-fixing adduced by the gata impi, they should be guided by Thomas Jefferson's remark to james Madison: "Resort is had to ridicule only when reason is against." After all, the author of the declaration. For many gold bugs, the transition of the bis from a european ally to an important tool of official Anglo- american gold bashing is perhaps the most surprising and disheartening development of the past few years.
gold is a loss leader for Anglo American - cheap settings for its more profitable diamonds. Barrick gold is also believed to have designs on Gold fields, possibly in conjunction with AngloGold. Barrick is controlled by canadian financier Peter Munk through TrizecHahn Corp., his flagship international real estate development company. Like angloGold, barrick operates an aggressive forward sales program, including the writing of call options to sweeten the returns from hedging. This tactic is particularly dangerous absent a high level of confidence in continued low gold prices. Since 1997 TrizecHahn has reduced its stake in Barrick from about 16 percent to under 8 percent, following earlier large dispositions of Barrick shares by horsham, TrizecHahn's predecessor. On a split-adjusted basis, barrick's share price peaked at more than twice its current level in early 1994 and again in early 1996, making all these sales by munk's holding companies appear prescient indeed. As parts of larger corporate empires with their major interests outside gold, AngloGold and Barrick differ from other gold mining companies in a way that helps to explain their aggressive hedging policies.
With financial and editorial support from south. Africans for a free gold Market, gata responded. AngloGold's jibe through a full-page advertisement in the principal financial newspaper in south Africa, business day. ( m/group/gata/message/644 2 the ad pointedly questioned whether AngloGold's role essay in driving down gold prices through heavy forward selling should be rewarded by allowing it to purchase gold. Fields, the country's second largest gold producer, which last week announced that it had used recent weakness in gold prices to close out its remaining forward sales. AngloGold is 53 percent owned by Anglo American plc, the international mining and natural resources conglomerate that also controls Anglo American. Platinum, the largest producer of platinum group metals outside russia, and de beers group, the world diamond cartel built by sir Ernest Oppenheimer and his son. Harry after the elder Oppenheimer in 1929 seized control of the corporate empire left by cecil Rhodes. (see susan Emerling, "Not forever ml 3) Anglo American has recently announced a reorganization of the de beers companies amid reports that de beers wants to shed the image of a cartel in order to improve its access to the American market.
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Howe m 1, february 20, 2001, shades of Cecil Rhodes and Alfred beit. At the Indaba 2001 African Mining Conference in Cape town the other day, kelvin Williams of AngloGold, south Africa's largest gold producer, used his turn at friend the podium to take a gratuitous swipe at the gold Anti-Trust Action. Committee: "Forget for the moment about the notion of a conspiracy against gold, and worldwide plots between central bankers here, there, and everywhere. We face a physical overhang of the metal. Annual new mine production has peaked at around 2,500 tonnes. Annual demand for gold now exceeds 4,500 metric tonnes. Last week the world Gold council reported that demand in the markets it surveys reached almost 900 tonnes in the last quarter of 2000, the highest level of quarterly demand ever recorded by the. For years now the growing gap between new mine supply and demand has been filled by a combination of scrap recovery, official sales, and, most importantly, gold borrowed from central banks and sold into the market, much of it pursuant to hedging programs of producers. AngloGold's continuing policy, restated by williams at Indaba, is to hedge mostly through forward sales up to half its production for the next five years.