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2004 Issues #1 to #16
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Eighteenth Issue 17 January 2005
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27th Issue 21 March 2005
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Twenty-eighth Issue 11 April 2005
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Twenty-ninth Issue 18 April 2005
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Thirtieth Issue 25 April 2005
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Thirty-ninth Issue 18 July 2005
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Fortieth Issue 25 July 2005
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52nd Issue 14 November 2005
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53rd Issue 21 November 2005
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54th Issue 28 November 2005
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55th Issue 5 December 2005
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56th Issue 12 December 2005
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Buy this essay and others in Jim's new book Being Sovereign.

The Indomitus Report
Volume 2, #41

31 December 2005
"Wealth Review"

Being Sovereign

      ""

      -

If this newsletter isn't helping you become wealthier, either I've done a poor job of it, or you aren't using my suggestions to make gains in your wealth. On the other hand, if the newsletter is making you wealthier, we should be able to measure how much better off you are following our suggestions and ideas. Here's my analysis on all our tips since November 2004.

Free Market Money

      "We have always had bad money because private enterprise was not permitted to give us a better one. In a world governed by the pressure of organised interests, the important truth to keep in mind is that we cannot count on intelligence or understanding but only on sheer self-interest to give us the institutions we need. Blessed indeed will be the day when it will no longer be from the benevolence of the government that we expect good money but the regard of the banks for their own interest.

      "'It is in this manner that we obtain from one another the far greater part of those good offices we stand in need of (Adam Smith, The Wealth of Nations, 1776)' -- but unfortunately not yet a money that we can rely upon. It was not 'capitalism' but government intervention which has been responsible for the recurrent crises of the past. Government has prevented enterprise from equipping itself with the instruments that it required to protect itself against its efforts being misdirected by an unrelable money and that it would be both profitable for the supplier and beneficial to all others to develop. The recognition of this truth makes it clear that the reform proposed is not a minor technicality of finance but a crucial issue which may decide the fate of free civilisation. What is proposed here seems to me the only discernible way of completing the market order and freeing it from its main defect and the cause of the chief reproaches directed against it.

      "Footnote: A reviewer of the first edition of this essay, John Porteous, sensibly observed, 'It would have seemed unthinkable 400 years ago that governments would ever relinquish control over religious belief.'

      "...the only way to avoid being driven by continuing inflation into a controlled and directed economy, and therefore ultimately in order to save civilisation, will be to deprive governments of their power over the supply of money."

      - F.A. Hayek, Denationalisation of Money - The Argument
      Refined: An Analysis of the Theory and Practice
      of Concurrent Currencies
      , 3rd Edition, 1990

Some further comments from Hayek in his concluding chapters, along with discussion to follow.

This essay is to conclude my review of Hayek's book on competing concurrent currencies.

We'll continue our focus on Denationalisation next week.

Gold Mining

Here's how the stocks we presently suggest in this area look of late ():

Company Symbol

C$

US$

D

Exploring
Almaden AMM.TO

2.05

-

$0.31

Luzon LZN.V

0.105

-

-C$0.185

Pinnacle PNL.V

1.01

-

C$0.38

Western WNP.V

5.10

-

C$3.36

Holding
Lumina Resources LUR.to

0.24

-C$0.51

Northern Peru Copper NOC.to

1.75

-C$0.15

Regalito Copper RLO

-

5.69

$0.79

Silver Standard SSRI

-

15.18

$2.40

Vista VGZ.TO

5.99

-

C$0.99

Mining
Apex Silver SIL

-

16.85

$4.30

Newmont Mining NEM

-

46.48

$3.18

Northgate NXG

-

1.53

- 0.12

Tan Range TRE

3.91

3.34

C$2.91

Free Market Money

Gold

Dow stocks The Dow:Au ratio is now

Oil

Silver The Au/Ag ratio is down a bit to 58.85.

Copper Ag/Cu ratio stands at 4.195. The related Au/Cu ratio is 246.88.

Zinc The premium on pre-1982 pennies is now stands at 36%.

Nickel

U3O8 was $34.50/pound as reported from 28 November.

Schlumberger was $97.99 on the morning of 5 December. It is up $16.77 (or 20%) since our suggestion.

The four free market money stocks we've suggested in this sector are PVH, GBH, CGB, and MCG. Prices from Monday 5 December 2005.

Company Symbol gAu
D
Cyber Gold Bank CGB 0.217

+0.111

Gold Barter Holdings GBH 0.130

- 0.87

MicroCasino MCG 0.830

+ 0.317

Pecunix Venture Holdings PVH 0.025

- 0.025

The Gold Casino last sale was

Space Frontier

      ""

      -

NASA delenda est.

SpaceDev closed at $1.60 on Monday 5 December. It was up ten cents from our first suggestion.

Launch Technology

      ""

      -

NASA delenda est.

New Country Developments


      -

TSM AU Optronics (AUTO.ob), a major supplier of liquid crystal displays.

Longevity

    ""

    -

FDA delenda est.

Legislatura delenda est.

Here's how our stock suggestions in the nanotechnology and life extension sector look right now (evening Thursday 8 December 2005).

Company Symbol US$ delta
CytRx CYTR 0.94 0.04
Accelrys ACCL 7.81 1.20
Dendreon DNDN 5.43 0.11
Elan Corp. ELN 12.84 5.61


Publication Note:

Gratuitous example of bizarre legislation:

Gratuitous prediction: gold $555/oz by 31 December 2005.

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Indomitus Industries heraldic achievement