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Power to the POG! - Update 2-18-03
(Comments on the article from our readers)

18 February 2003 * Richard Lancaster

The "Power to the POG" article hit the virtual newsstands about 24 hours ago. Since then it has featured on many of the major gold-related websites and email newsletters; including Gold-Eagle, Financial Sense, Goldseek, GATA, Le Metropole Café and Money Files. Thanks to all publishers, editors and friends who have been gracious enough to get this message out.

Below I have listed various responses to date, they are intriguing and enlightening, and I thought you might like to read some of them. Overall the response has been very positive, although many people require more time in order to organize themselves for a supportive purchase of our favorite barbarous relic. Tomorrow, February 19, 2003 is "Power to the POG Day." It is my hope, and clearly the hope of many citizens within this rather small fraternity, that many people will jump in and make a purchase.

I intend to buy $1,000 of a junior gold exploration company, something high risk with great potential - so if you know the perfect stock to recommend please let me know! When I had this idea over the last weekend I wasn't even thinking about the current gold price, but now I am contemplating another purchase it occurs to me that the sell-off we are experiencing does represent another opportunity to get more stock at a lower price!

It seems to me that the market has already priced in a successful conclusion to Gulf War II, and that traders are expecting a quick win to an inevitable war, and therefore a lower POG. In anticipation of all of that the POG has already lost nearly $50 from its high. Another thing to consider is that it is becoming more apparent that the French and Germans have been feigning righteous indignation over this US/UK war, when in reality they just haven't been cut a good enough deal to come to the table and support the effort. I am anticipating that these European powers will suddenly "capitulate" to the will of the US/UK and that war will move ahead (they'll get in on the action).

The best to be hoped for in this scenario, should it play out this way, is that the UN unites behind the cause and forms a coalition, that Saddam then abdicates the throne and that a new more western friendly regime is installed without a shot being fired. That way we get our cake and eat it. We rid the world of the madman Saddam, we free the Iraqi people from the tyranny they have suffered now for 20 years, we can lift the sanctions, reduce the infant mortality and wretched poverty and get back to focusing on the depths of our own economic problems that have resulted from a decade of excess! (OK, more like from nearly 100 years of Federal Reserve management!).

Anyway, here are the comments of readers. Some are reprinted in their entirety with the credit of the writer where permission has been granted others are anonymous by request. I have provided the full spectrum of views here, as it is important to maintain an objective and open mind to all opinions.



I added 1,000 SLGLF, 100 shares of Prudent Bear Fund and put in buy for 1,500 CFTN to do my part!

You are emitting Negative Waves of only $1,000 POG!!!

I like Dines $3,000 - $5,000 so much better and really love the guy who has $32,000!!! :)



Dear Richard,

I have Gold already, but considering the sorry state of our currency and how it's being printed non-stop 24/7, I think your idea is a good one. I e-mailed Libertarian Congressman Ron Paul twice to ask if there is gold in Fort Knox. I got no response.




You are right; gold is being manipulated. But it is being manipulated by the Prince of Darkness. The Prince can change the rules and hand you your head. He just did. Why buy while the prince is all-powerful? The time will come but not now.



If what you say is true about the price of Gold, I applaud you. Many, that I read think this is a normal correction. You apparently do not agree.

I CERTAINLY DO NOT AGREE WITH YOU ON YOUR PEACE MARCHES. Having been in World War II, I know if someone would have had the 'guts' to stop Hitler, instead of appeasing him, we would not have lost thousands of men, including my brother. That seems to be what you peaceniks want. You apparently do not care about the Iraqi people. Very sad indeed!!!!.

I do have quite a bit of gold, and will think about buying some tomorrow.



Thanks Richard,

I found your article to be very illuminating.

Best Regards,



Hi, Richard (great name)

I have been wondering who to suggest this to, and you seem like a likely candidate:

It occurred to me that all those millions demonstrating against the war in Iraq represent a large and potentially valuable set of ....well, for lack of a better word ... co-conspirators who, if we could just reach them, convince them, could do a power of good for the gold market.

We at least are convinced that the US government is in some way involved in the POG manipulation (after what the governor of the bank of England said, who could not?) and what I think we want to do is to tie it all together: In other words, to send a message, THE message, far more effective than just a demonstration in the streets, to the (what did the media advisor for the Prime minister of Canada call him? Ah, yes, "moron") President of the United States, since he says that world opinion will not influence him with regards to the invasion of Iraq (Why am I NOT surprised).... and that message would be to dump the dollar and buy physical gold - yeah, o.k., why not, and silver - and additionally, to write a letter to one's elected representative demanding, in no uncertain terms, that the central bank of their country be instructed to cease selling or leasing out or renewing leases on bullion.

If we could make this an issue, a way of expressing discontent with the US government that everyone could do, I suggest that the war will be won, and I think that the Internet is just the way to bring it about.

Hang in there

Richard S.


Greetings from Martinez California,

Count me in; I'll buy some gold tomorrow.




I like your idea but in order to have an impact, I believe that you have to give more time to investors to join in.

You wouldn't throw a party (a good one at least) by phoning everyone the day before the event, would you?! No, the best-laid plans have enough time for people to prepare for, to commit to. RSVP is preferred because then you can have a consensus.

Do it again but change the date, allow people to make sure they haven't got other commitments. Make it a weeklong party perhaps.

Along the same lines as your, challenge, I sent a letter to Bill Murphy a couple of weeks ago that runs along the same lines… that may be something that you want to consider. You may quote me if you want.

Tuesday 2/11/03

Dear Mr. Murphy,

It's me again, -Greg Hutchinson, and I have an humble idea!

Fellow Gold bugs,

I have a gold-war challenge for you.

As you know, if we can get as many people as possible committed with a capital "C" - to holding on to their gold shares, we will ALL win. My challenge, aims to accomplish this, through to significant run-ups. Many (me too!) hold the belief that there will continue to be some volatility in the POG and Gold Shares before the run-up. Many gold bugs will have second thoughts. Many will lose sound positions because insecurity, put under pressure, can wreck their resolve. Selling our (collective) shares in moments of weakness weakens everyone's position.

RESOLVE is the keyword. Resolve, is necessary because strategic battle losses play on our collective psyche. As do collective defections. I know for a fact, that we can all use some handholding from time to time. You need look no further than JSMineset.com and see how many times Mr. Sinclair does that everyday. My raison-d'etre is exactly that, building belief, action and resolve, towards a worthwhile cause: Stopping the corruption, and participating in keeping my family's assets whole.

I'd like to share with you a collective fellowship. It will require that you do your homework (to pick your portfolio if you haven't done so already) and it will require a commitment on your part. This fellowship is not a legally binding contract. It will be based on good spirit. No more than a hand-shake, like our fore-fathers used to trust. It will require trust, spirit, and integrity, in yourself and in your compatriots whom join in on this challenge. If you join the fellowship, you have to be a believer, because you will be making a promise to others that depend on your resolve and integrity. It will also comfort you knowing that you have others committing the same to you.


1. Decide how much money you want to commit to gold shares, bullion, etc.. No amount is too big or too small, just make sure that you can commit to it.

2. Make your share, bullion, etc., selection, and buy your shares, bullion, etc., when it is convenient to you. (I would prefer that you take physical possession but it is not necessary to join the fellowship).

3. Commit to holding those shares, bullion, etc., until the POG reaches at least $450/oz OR,

4. Commit to holding the shares until you are ready to reinvest in another GOLD share or product within 24 hours of liquidating the former.

5. Trust that all whom join this challenge are committed to this fellowship and rely on them to be trustworthy.

6. To join this challenge reply to this message with your name and geographical principality. I will update you upon request, as to the numbers in our ranks. (No details of any kind will be released to any third party (i.e. your email address or name).

7. If you join the fellowship, then later decide it's not for you, we request the courtesy of notification within 24 hours of your decision to leave the ranks.

That's it!

I welcome you to be my first Fellow.

Yours truly,

Gregory George Hutchinson


I made my purchases and have stood my ground. I have lost a little, but I feel that when I had made the purchases that I had bought in at a good time. I am assured that I am doing the right thing, for myself as well as others and have no doubt that my investment of $50,000 will be worth much more (Even if it isn't today.)

Good work and good luck, but don't be disappointed if your challenge doesn't get any traction. It won't be because people don't want to be part of your party, it's just that they were not given enough notice.

Gregory G. Hutchinson

Private Investor (Joe Thousandaire) J


With all the gold/silver sites out there, it would be remarkable if all the sites, collaboratively, would push with one concerted effort a buying spree on a given date. While I just made a sizeable purchase, an orchestrated effort would impact enormously... perhaps a panic, which to my thinking is not only long over due but, a necessary correction. The longer this takes the more painful it will be. A festering bullet has to be extracted.




When you try to get forum people to buy give them some time. I just finished reading your essay, which was very good, but I am unprepared for Wed buy. I think it's a great idea, but went about wrong. 1st you best buys are always Fri or Mon. Fri is when they have they money and they can hold off for Mon or buy on the weekend. Also 2 days notice doesn't give people time enough to prepare for exxtra buying when they are not ready for it. Plus you want them to talk about it, pump them up on these talk forums. Just a suggestion in the future,



Hi Richard,

Just to let u know I agree with your thoughts, I bought 5oz on 14th Feb 03

Regards John
from Australia


dear richard,

just to let you know, i tried to buy physical gold here in yellowknife, northwest territories, canada. this was at our local toronto dominion bank. this was back when gold was around $300-310. not that long ago. i was told that they did have some physical gold but the branch here had sent it back to one of their main branches. supposedly, there wasn`t enough demand for physical gold here. now, imagine that. gold is in a bull run and they send their physical gold back. yellowknife was build on mining. there are two gold mines on each end of the city. they are miramar con gold mine and the former royal oak gold mine. people here in yellowknife make some of the highest wages in the country, as many others work in mines in other parts of the territories, both precious metals and diamond mines. many more work for the government ( capital city). just on a hunch, i tried calling two other banks, and was told i could place an order to have some gold. i would have to pay a fee to order and a have to pay the delivery fee. is this normal?

imagine living in a gold mining town, but the banks don`t carry physical gold. how strange is that? i didn`t think about it at the time, but maybe they had to send their gold back so the bigger banks had more physical, either to cover or to loan out. who sends gold back when people like me and my friends are ready to buy. many people i know do their own investing , and follow the markets. i can`t believe the banks would do this in a bull market. just so you know what it`s like up here in mining country. by the way. there is no such problem obtaining diamonds or nearly any other thing up here. thank you for your time.



Dear Richard,

please let me comment on your most recent contribution on gold-eagle regarding the manipulation of gold prices. In that article, you suggest that we take action against the gold manipulators and buy on Wednesday whatever gold we can afford in order to send a message. This recommendation does not make sense to me. Let me explain why.

I believe that the gold market is manipulated in order to depress prices. Contrary to you I believe that all investors interested in gold should welcome this manipulation, keep quiet about it, and continue to accumulate gold at low prices. I see myself as a saver accumulating assets for my retirement. Every month i buy a couple of ounces of gold and I intend to do that for the rest of my life. For me a rising gold price does not make sense. Living on a fixed salary, rising gold prices would mean that I can buy less and less gold for my fiat money.

Protesting against the manipulation of the gold price means speaking up in favor of higher gold prices. But higher gold prices can be only in the interest of those who already accumulated many thousands ounces of gold and are now seeking to sell gold for fiat. The average gold investor has no interest in selling gold - he wants to exchange his fiat money for gold at low and attractive fiat prices - the lower the better.

It is OK to be in favor of higher gold prices, but then you must say so and clearly state that you are speaking up in the interest of the central banks and the gold producers (the only investors holding substantial gold positions who are therefore interested in selling).

Your recommendation is in my opinion clearly aiming against the basic interest of the majority of gold investors. I conclude that you are not a gold investor but a paid for promoter of the gold mining industry. Are you by any chance on their payroll?




It just dawned on me that Gold's precipitous up and down vacillation in 'value' as 'war' threats abate then escalate, have all earmarks of being used by the media to further trounce it, gold. Those who would propagate gold as money will really be seen as warmongers, but, worse. ...terrorists.... That is, since we're contrarians, we would want the demise of, for instance, the DOW, so we can see 'our investments of metals' ascend. So, the argument will run.. I see eventually as India, China, Russia, and Arabic countries continue with a push as they are for gold backed currency, a further demonizing of metals as ' conspiratorial collaboration with the 'enemies' ' against unconstitutional fiat money...of course, they don't see it as fiat or unconstitutional..,,To them it's right up there with mom, baseball, and apple pie. (I do like three outta four!!!



Dear Sir,

I read your article and have some comments.

First of all I am an former gold bug. I put all my money into gold eagles in mid summer 1999. I bought gold for the first time at $257 and more at about $265. Not a bad entry point. I had read many articles that summer on gold eagle editorials and the coming depression,Y2K problem, stock market crash, gold price manipulation etc. I held all my gold threw the gold rush that fall, Y2K, later the stock market slide/crash, and the 9-11 -01 terrorist attack. During the winter or 2001-2002 I built a house and couldn't hang onto the gold any longer as I needed cash to build the house.

I sold all of my gold eagles. Gold was at about 275-280. The coin dealer charged me spot plus $20 to by gold but would only give me spot when I sold. Thus even though all of the Gold Eagles Editorial predictions came true except $1,000 gold price I broke even.

Do I believe the gold price is manipulated? Shure it is. Do I think the system will crash someday in my life time? Maybe, probably, I don't know. Can I do anything about it? I doubt it. When you say everybody buy gold on Feb. 19 what are you hoping for? A collapse of the dollar? Collapse of the government? Who will be in charge then? Those that have the gold you'll say. Who's that? Probably the Arabs. Do you want them in charge.

The way I see it If gold ever breaks out and runs to $1,000 or more and the dollar collapses gold will be worth only slightly more than ammunition and food. So should I stock pile gold or just ammo and food?



I have already loaded my boat with everything I have!!!!



Well that's a fair cross section of opinion that's out there folks. I've really enjoyed reading people's comments, and I've tried to respond to all of them - if I have missed a few please forgive me.

After tomorrow, and when the dust has settled in the weeks ahead, we will put together a more focused and concerted effort to test people-power in relation to the POG - - "Power to the POG" will continue. I see this activity as a very meaningful, peaceful and powerful way to try to get our message across - that freedom is what we stand for. Gold seems to make the rules in this secular world right now, so lets play by the rules.

But, at the end of the day we're all just spiritual beings living in this physical world for 4 score year and ten. It is important not to lose sight of that fact, and to remain peace loving, calm and focused on solutions. Becoming "attached" to gold is not a solution. The big battle has always been and will always be inside each of us to do the right thing for ourselves and all around us. God has given us the road map, we just all need to do our best to follow it the best way we know how - and if you don't believe in God, then you just need to follow the code of ethics that humanity has adopted universally that has sprung from the Great Religions of the world.

Power to the POG!

And God Bless the World!

Cheers Rich

"O SON OF BEING! Busy not thyself with this world, for with fire We test the gold, and with gold We test Our servants."

- Bahá'u'lláh, from The Hidden Words


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