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First Issue 15 May 2004
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Second Issue 30 August 2004
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Third Issue 10 September 2004
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Fourth Issue 19 September 2004
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Fifth Issue 26 September 2004
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Sixth Issue 3 October 2004
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Seventh Issue 12 October 2004
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Eighth Issue 21 October 2004
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Ninth Issue 28 October 2004
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Tenth Issue 4 November 2004
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Eleventh Issue 22 November 2004
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Twelfth Issue 29 November 2004
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Thirteenth Issue 7 December 2004
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Fourteenth Issue 13 December 2004
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Fifteenth Issue 20 December 2004
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Buy this essay and others in Jim's new book Being Sovereign.

The Indomitus Report

27 December 2004
Happy Holidays!
Index in This Issue

Being Sovereign

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Next week, knives, the ultimate tool for close quarters combat.

Free Market Money

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The end of the year is a fine time to assess the status of the free market money industry. The year 2004 saw remarkable growth in the volume of precious metals under management, the services available for free market money, and the features presented by free market money systems. We also saw some failures, most notably the evaporation of the evocash system after many years of successful operation.

Industry leader e-gold.com continues to have the largest number of accounts. We think there are several factors to account for this lead in activity. First, there is the referral fee. E-gold reliably pays referral fees or "incentive fees" to existing customers who sign up new users. Second, there is the first mover advantage. Having been around since 1996 does help. Many people have heard of e-gold, and e-gold is routinely mentioned when online gold payments are mentioned. Third, there is functional pseudonymity. It isn't clear that actual anonymity is possible with e-gold, given their IP tracking methods. Fourth, e-gold continues to be used, willingly or not, for various activities such as Ponzi schemes which generate a large number of users. [stats, discussion, microgram accounts, etc.; e-dinar separates]

Liberty Dollar

e-Bullion

e-dinar

GoldMoney.com We received a copy of the auditor report for the GoldMoney.com system. It looks to us like a thorough analysis of both the software version of funds in the system and also the gold in the vaults. What it means to us is GoldMoney is gold itself in our holding.

Pecunix

1MDC

evocash

PayPal

Gold Mining

Here's how the stocks we presently suggest in this area look right now:

Company Symbol C$ US$
s
Exploration
Almaden AMM.TO 1.70 -
-C$0.04
Free Gold ITF 0.35 0.30
+C$0.07
Luzon LZN.V 0.24 -
- C$0.05
Holding
Lumina LCC - 4.36
- 0.28
Silver Standard SSRI - 12.27
- 0.38
Vista VGZ.TO 4.75 -
- C$0.25
Mining
Newmont Mining NEM - 44.91
+1.61
Northgate NXG - 1.57
- 0.08

Newmont appears to have bottomed and is rising. There may be further tax loss selling this week or next, so be watchful. Almaden's price drop seems to have slowed. FreeGold's drop has increased. Luzon and Lumina seem to have slowed their descent. Northgate and Vista have not. Silver Standard joins Newmont in appearing to have bottomed, and is now rising.

We encourage you to time your buys carefully and keep trailing stops in place to prevent losses.

Free Market Money

Gold and silver have recovered somewhat from their lows earlier this month. We're still expecting them to regain lost ground and perhaps set new highs by year end. Gold is still $40/oz off our expected $480/oz by year's end. Might still get there.

The two stocks we've suggested in this sector are PVH and MCG. MCG is unchanged at .513 grams. PVH is well down at 0.025 grams. We hope to have a report for you on developments with Pecunix and PVH to account for this dramatic drop, soon.

Space Frontier

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Here's how things stand for the stock we suggested in this sector:

SpaceDev is at $1.80. Still. It is up $0.30 since we first recommended it, well down from its peak. Based on our earlier discussion, you should have formed a trailing stop and presumably sold your position. However, we continue to monitor this stock against our earliest buy recommendation.

We've learned from the SpaceDev newsletter about a preferred stock issue. No doubt it would have been helpful to have known about this stock issue when it came out, as it has certainly negatively affected the common stock share price, as we see it.

Launch Technology

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New Country Developments

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Lindsay Mitchell, a research fellow at the Institute for Liberal Values of NZ gave a stunning indictment of welfare states around the world. Among the massive abuses, the state welfare systems nurture epidemic levels of child abuse, result in women living in violent relationships, wrecks lives and results in rampant alcoholism.

It grows late and we grow weary, so more on the international liberty news in next week's issue.

Longevity

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Publication note: The Index!

Partial Index to the Indomitus Report for 2004

This index includes the names of people we've quoted, companies we've noted, and some of the key topix we've discussed. As this issue is the last of the year, we plan to add to this index as we have time and inclination.

A

Almaden 11/18 11/22 11/29 12/06 12/13 12/20 12/27

B

Block, Will 10/17 10/21 12/06 12/13

C

Caesar, Julius 9/10 10/03 10/28

D

Davidson, James Dale 12/20

E

e-Bullion.com

e-gold.com

F

Freegold 8/30 9/19 10/03 10/12 10/28 11/04 11/18 11/22 11/29 12/07 12/13 12/20 12/27

G

GoldMoney.com

H

Hayek, Friedrich 5/15 10/12 11/29 12/13

I

J

K

L

Landis, Robert 9/10

Lumina

Luzon

M

N

Newmont

Northgate

O


P

Q


R


S

Silver Standard

Sjuggerud, Steve

SpaceDev

SpaceHab

Stinnett, Robert

T

U

V

Vista Gold

W

Wilson, Woodrow

X

Y

Z


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Indomitus Industries heraldic achievement