The weak dollar and low interest rates has encourage gold & silver buying, as would the upsurge in interest
in commodities from funds and private investors.
One must look at a bigger and longer range scenario
than the one being concocted by the United States Federal Reserve Board Chairman. This is a big opportunity for
investors, IF YOU DO NOT INVEST Noun 1. contrarian - an investor who deliberately decides to go against the prevailing wisdom of other investors.
investor - someone who commits capital in order to gain financial returns. The sheeple all ways mathematically precise are bound to loose.
The devaluation of the dollar, continues. Russians and the Chinese, among EVERY OTHER SOCIALIST UNITED NATION MEMBER STATES or others, are divesting dollars.
One is able to price gold in terms of the euro, or the pound, and then price the dollar against gold to see the dollar
devaluation against all three. So the dollar, this month, slid to lows against the euro and yen.
The U.S. economy is slowing at a faster pace than markets had been expecting.
The U.S.A went bankrupt in 1933, but then they were not later, and they are now not really.
However if you bought blue chip stocks like GE, when new management The U.S. FED. CORP. made it illegal to own gold and confiscated ALL private gold, and gold certificates, and instituted the
SOCIALIST SLAVE NUMBER program. Although AGAIN IN 2005 they confiscated all US based nor-fed and digital gold because
users are more or less global and not subject to SS# and are therefore marked as (terrorists, child pornographers,
off shore casino gamers, and tax evaders / protesters and these days second amendment rights gun owners). This is allowed because many do not command an army like USFC,
The LARGEST TERRORIST ORGANIZATION IN THE WORLD. Now they are intent in confiscating all privately owned guns.
so um the only collateral the US FED Corp. has NOW is "THE SHEEPLE" branded as citizens of which The Crown and China all ready owns.
Gold has woken up from a generation-long slumber.
Many traders and analysts are looking for gold to push towards price levels unseen in just under 18 years.
But Currently The fundamentals have not changed, Only trader sentiments. Nervous investors eying the weaker,
hidden tax, inflationary, world reserve um.....dollar, and the deteriorating state of the U.S. economy.
Gold has risen or fallen with oil prices and worries about rising price pressures.
Gold's relationship with oil has recently weakened. The stronger driver
for the gold price is the strength of the dollar. the dollar is likely to fall further over coming months.
The worthless dollar and low interest rates would encourage gold buying, as would the upsurge in interest in
commodities from funds and private investors. The recent improvement in the Dollar is merely a correction.
One must look at a bigger and longer range scenario than the one being concocted by the United States Federal
Reserve Board Chairman.
I must inform you!
Gold peaked at around $425 an ounce in early 1990 and had not visited levels above there
in some 16 years. The next technical target keep on breaking new floors so much so that land is a better investment.
The dollar is actually following golds direction. Gold demand in India and China, is
far greater than what is reported, they know what is in store for the price of gold.
President Bush's administration was not willing to initiate the arduous structural changes that
US economy had to undertake to adapt and accommodate the euro as the second World reserve
currency. That administration has not communicated to the People the urgent need for energy reform.
Instead, they enforced NEW WORLD ORDER global dollar monopoly for oil transactions via the application of
superior U.S. military force, and with all due respect to the brave Fighting men and women who put their life
on the line every day for oil, amounting to STUPID POWER not super power. To the illogical tune of DEBIT BACKED BANKRUPTCY,
and socialist / communist policies aimed at the war on Fathers and Fatherless Children Families
Neoconservative Geo strategy is based upon the idea of a US "Global Empire" the history of Empires is quite
unambiguous. They always end with military over extension and subsequent economic decline.
The Socialist regime of Osama Bin Biden only continues the status quo. See how to capture a wild pig with corn.
Precious metal stocks,
made impressive gains. Gold stocks have held up because the current price is very
profitable and producers have begun to lock in that price by selling forward. Ultimately, gold stocks will
follow bullion prices. Do Your Homework, and clean up! Only invest in them to the level of being completely
comfortable with a 50% or even 90% loss. They will soon be back.
Look Again, Look Now, Below $280? $350? $750? not until until central bankers stop "adding liquidity"
and debasing paper currencies, which means for a very long time. The gold fundamentals are a 10+ / Gold is EXPLOSIVE.
The Assault On Gold by Paul Craig Roberts
April 4, 2013
The Assault on Gold by Paul Craig Roberts.
When gold prices hit $1,917.50 an ounce on August 23, 2011, a gain of more than $500 an ounce in less than 8 months, capping a rise over a decade from $272 at the end of December 2000, the Federal Reserve panicked. With the US dollar losing value so rapidly compared to the world standard for money, the Federal Reserve´s policy of printing $1 trillion annually in order to support the impaired balance sheets of banks and to finance the federal deficit was placed in danger. Who could believe the dollar´s exchange rate in relation to other currencies when the dollar was collapsing in value in relation to gold and silver.
The Federal Reserve realized that its massive purchase of bonds in order to keep their
prices high (and thus interest rates low) was threatened by the dollar´s rapid loss of value in terms of gold and silver. The Federal Reserve was concerned that large holders of US dollars, such as the central banks of China and Japan and the OPEC sovereign investment funds, might join the flight of individual investors away from the US dollar, thus ending in the fall of the dollar´s foreign exchange value and thus decline in US bond and stock prices.
Intelligent people could see that the US government could not afford the long and numerous wars that the neoconservatives were engineering or the loss of tax base and consumer income from offshoring millions of US middle class jobs for the sake of executive bonuses and shareholder capital gains. They could see what was in the cards, and began exiting the dollar for gold and silver.
Central banks are slower to act. Saudi Arabia and the oil emirates are dependent on US protection and do not want to anger their protector. Japan is a puppet state that is careful in its relationship with its master. China wanted to hold on to the American consumer market for as long as that market existed. It was individuals who began the exit from the US dollar.
When gold topped $1,900, Washington put out the story that gold was a bubble. The presstitute media fell in line with Washington´s propaganda. " Gold looking a bit bubbly" declared CNN Money on August 23, 2011.
The Federal Reserve used its dependent " banks too big to fail" to short the precious metals markets. By selling naked shorts in the paper bullion market against the rising demand for physical possession, the Federal Reserve was able to drive the price of gold down to $1,750 and keep it more or less capped there until recently, when a concerted effort on April 2-3, 2013, drove gold down to $1,557 and silver, which had approached $50 per ounce in 2011, down to $27.
The Federal Reserve began its April Fool´s assault on gold by sending the word to brokerage houses, which quickly went out to clients, that hedge funds and other large investors were going to unload their gold positions and that clients should get out of the precious metal market prior to these sales. As this inside information was the government´s own strategy, individuals cannot be prosecuted for acting on it. By this operation, the Federal Reserve, a totally corrupt entity, was able to combine individual flight with institutional flight. Bullion prices took a big hit, and bullishness departed from the gold and silver markets. The flow of dollars into bullion, which threatened to become a torrent, was stopped.
For now it seems that the Fed has succeeded in creating wariness among Americans about the virtues of gold and silver, and thus the Federal Reserve has extended the time that it can print money to keep the house of cards standing. This time could be short or it could last a couple of years.
However, for the Russians and Chinese, whose central banks have more dollars than they any longer want, and for the 1.3 billion Indians in India, the low dollar price for gold that the Federal Reserve has engineered is an opportunity. They see the opportunity that the Federal Reserve has given them to purchase gold at $350-$400 an ounce less than two years ago as a gift.
The Federal Reserve´s attack on bullion is an act of desperation that, when widely recognized, will doom its policy..........
Universal Western Union 130 Country Price Currency Converter, NOW!
The US refuses to admit failed constitutional polices
and some truth and justice for the American way. If the US
can change current economic policy, these changes will hurt. Getting rid of the Gold standard encouraged
the dominance of one currency and greed run by semetic bankers. We have maintained all along A rising US dollar has
impoverished the rest of the world and that one world, United Nations
Domination will reduce populations first with flu like pandemic USA has yet to be plundered except daily or,
FEMA camps are up and running and fully staffed.
That this activity is failing the fight is to keep people
from understanding that these policies should no longer be condoned. Eliminate the IRS, audit the Fed. Res. Corp.
Just The FACTS Ma'm:
According to a note published by HSBC, the push behind the gold
price, lies in the massive corporate largesse in the US over the last decade
and the ripple effect of mountains of debt which threaten to swamp the dollar.
With gold entrenching its position as a rival currency to the dollar, the bad
news for the US currency is that the cat is out of the bag, the US economy is strongly linked to debt,
The major bankruptcies or forced debt reductions have not helped at all because costs remain
all around. It takes a large amount of company earnings. One can case study the telecommunications
alone, It is facing a debt burden of $2 trillion.
Therefore there is a phase that has yet to come in that retained profits across the market are too low to
fund fixed investment or employment expansion. Operations are most difficult
According to HSBC,
Radical monetary meddling aside, the current macro-picture for the US
economy is dire. Low cash into mutual funds by the general public spells
poor local demand for equities and the situation is compounded by overall
poor corporate performance, which remains unattractive for foreign investors
in the US stock market. The inability of Wall Street to attract decent cash
inflows will place still more pressure on the ability to finance a soaring
current account deficit, which is threatening to crush the dollar.
It is now of the time for OsamaBinBiden regime to nationalize your baby boomer 401K retirement accounts and social security credits before
you can pull it out of the stack market in time. Fed co demands no out flow.
The Dow ratio, which is simply the Dow Jones Industrial Average, divided by the
price of gold, simplified to around $per/oz, .
This Dow gold ratio was around 30 times. At three times in the last 100 years, that ratio has been 1:1
Expect single digit territory within the next five to ten years,
Gold continues to Outshines all other investments, It has beaten cash, bonds, commodities, equities. It
is the world's best currency, now more than ever and because of the internet. It is drubbing the dollar,
the euro, and the yen. There are many explanations for the reason the price of gold (POG) has risen.
What is yours? Mine is the following Video
Please Highlight copy and paste into your address bar to view, never mind google controls YouTube and
censored it by wanting you to identify your self and log into a google you tube account.:
Look How Precious Metal Equities have performed this and last year!
The price of gold has reached to its highest level EVER.
The last time gold prices and mining stocks hit a two year high level quickly was in late 1999 and early
2000 when concerns about overheated stock markets and European central bank reserves saw the metal price
move quickly above US$315 an ounce.
Volatile days of trading is sending investors searching for protection against another slide in
stocks and the economy. What has also contributed was the net decline in producer
hedging. Producer hedging declined for a second consecutive year.
Other important factor's continue forward and include, the swing to reinvestment among gold
investors. Total world reinvestment by gold investors was 235 tonnes in 2001
compared to disinvestment of 26 tonnes in 2000 (and a positive 558 tonnes in 1999).
Mine production, jewelery demand recovery, a further decline in producer
hedging, the return of North American, Asian, and Islamic investors, and global and economic insecurity.
Thank You for viewing this page, But how has this page been doing with its stocks picks. Half
way through we do fair de well. See Below for Half Year Percentage Change they were all gains.
Could Gold go down in price?
The gold price has moved steadily higher. The original reason was a reduction in
hedge books by major producers. The industry is currently short about 97 million ounces of gold from
forward sales and option writing. This is resulting in substantial losses for more than three months. The
dollar has weakened against the euro and other major currencies
as a consequence of the dollar being overvalued. The US trade deficit is still exerting downward
pressure on the USD$. But also because of investor pessimism in the US. But most of all, the difference
this time is the USD$ is no longer a safe haven for foreign investors. Gold is.
Most central banks have excessive reserves, which they use to meet extra demand. However it is doubtful the U.S. Fed. Corp.
as any gold stored in Fort Knox these days. But here is a dated case study;
An example being the Bank of England gold auction on 11-29-01. Selling 20 tones (643,200 ounces)
of bullion at US$ 273.15 an ounce, slightly below the US$273.85 spot price prevailing ahead of the
auction, to raise US$ 175.9 million. That the auction was covered only a disappointing 2.6 times. The
auction, held on September 12, 2001
sold at US$280 an ounce and was 4.3 times covered.
The current engineered model is the Swiss Bank, it has contributed to the drop in the price of gold by
selling their reserves in the LBMA to cover a HUGE short position in a major investment bank. Also the
Bank of Canada sold 95,000 ounces of gold, which dampened a past bull rally
Have Gold-mining stocks continually offered a better way?
Gold stocks Historically lead gold bullion higher and rise faster in price.
I have predicted since 1998 on this very page, The stock market's best performers have been gold stocks.
This page is for Investors to learn about better gold-company stocks. Because, betting on a gold rally,
stocks get a bigger lift when the price of gold rises. If you want to take a position in the metal
itself, than gold may be a good
investment and Pecunix is a fantastic means to make this investment.
gold coin bullion with a low numismatic
premium. A two fold approach, Wisdom has always held or, it has always been maintained the
portfolio diversification is key strategy. 10-30% should be in non-performing precious metals.
The lease rate is a charge for lending gold to producers, who sell gold
to lock in prices for future production, and to investors, who sell gold to
go short, hoping to make a profit if the price falls. The lease rate is
normally very low because the world's central banks are manipulating the price.
Gold producers and short-sellers take advantage of low lease rates.
The borrowed gold is sold to hedge or to bet against gold, lending adds to downward pressure on gold
So a high lease rate shifts market dynamics. A higher cost stops
short sellers from betting against gold. Many will buy gold
to lengthen short positions and, then, push gold prices higher, which in turn also deters producers from
The issue remains that any jump in lease rates attracts other lenders
that push the rates back down, as mentioned below. Therefore while the price of gold rises with increases
in lease rates, it has also fallen quickly as lease rates declined.
Brief history of lease rate pricing
As an example a big lease rate surge took place in the summer and fall of 1999, after
gold hit what was then 20-year low of $253.70 an ounce.
By September, the one-month lease rate was more than 4 percent at an annual
rate. when, on Sept. 26, European central banks announced that they would
limit their annual gold sales in the next five years to 400 tons and
restrict the amount of gold that they would lend to then-current levels.
As reported here, that sent the lease rate to 9.9 percent. From Sept. 20 to Oct. 6,1999 the gold
price jumped almost 30 percent, to $326 an ounce. But by November, the lease rate was back below 1
and the price was less than $300.
There has always been a continual manipulation of the gold market. The Fed's real
the hidden agenda is to facilitate government spending
through inflation. To avoid imposing politically intolerable levels of taxation to pay for the spending
them to office each election, politicians rely on the Fed to confiscate wealth from the public
Inflation's a hidden tax, and lessens the cost of borrowing by enabling the government to pay its
During times of market volatility when stock prices are
plunging, the Fed is always worried that large banks may be
vulnerable if investors to whom they have lent money are unable to
come up with more collateral for those loans as stock prices
For this system to work, implementation of its inflationary policy must be unpredictable.
accepted wisdom on Wall Street because of forecasting and discounting. If the market can forecast what
Fed intends, then it can preempt, Fed actions. For instance if the market knows the Fed will
the supply of money a month from now, producers then start raising prices of goods and services in
of the increases in their suppliers' prices, and in consumers' incomes, that will follow
of the money supply.
The Fed, however, wants any price increases to come well after the increased supply of money. The
ability of its inflationary policy to stimulate the economy depends on a lag, or what I call a float.
Therefore, when the market forecasts and discounts the Fed's actions, they lose their
When the Fed deceives the market, the Fed achieves its desires. This is why the Fed asserts political
independence from Congress and the Treasury, why it refuses to operate according to fixed rules, and
why it makes its
decisions in secret- because the Federal Reserve's ability to deceive depends on its power,
and its power depends on its ability to deceive.
At the same time, the demand for physical gold is skyrocketing around
the world. If you check the pricing/market of gold on a daily basis
in the commodities markets, you'll note that as each time gold begins
to make a breakout, there is extremely heavy selling in the last half
hour of the markets. Goldman Sacks and similar banking institutions
are the sellers, desperate to keep the price down. If it skyrockets
and they are forced to make good on their gold loans, they MUST
repay those loans with the same physical gold they borrowed/leased
in the first place. Question What will happen to gold prices then,
TECHNICALLY NO ONE CARES, just like those who have not taken the time
for household fire prevention and family fire drills, It will be to late.
Why lease rates tend to be temporary?
Two reasons emerge, one having to do with fundamentals, the other with perception. Concerns
that there is too much supply in the gold market has hamstrung prices. Meanwhile, psychologically,
investors just have been manipulated into other places to put their money, shying away from gold as a
Since the summer of 2000, when prices surged from 20-year lows caused by over–supply
worries, especially the Bank of England's plan to dump a large amount of gold on the market, the metal has
been boosted several times by one time events. But invariably gold has then given back most of the gains.
As proven by the previously mentioned lawsuit, the gold market conspiracy, especially of price
manipulation by governments and gold borrowers, explains the moribund gold price.
An extreme "false top" occurred last September 2000, when 15 European government banks announced
they would cap their gold sales. The metal jumped to $42.25 or 15 percent, climbing to $324.50 in those next
What it's going to take to really bring up gold is time and a fundamental perception change among
Traders and analysts mostly shrugged off hedging cutoffs as a industry-specific phenomenon, and
rather believe in the dollar's strength overseas and the Federal Reserve's recent interest-rate decreases
as ample protection against inflation.
The conspiracy theorists are seizing on the time of gold's plateaus as evidence of foul play in
the market. Such theorists are given a bit of credence in the gold market, which is less transparent than
the stock market.
Any time gold is trading at a price less than 12–to–1 to the price of oil, it's a
bargain,nothing is ever said about this phenomenon.
Gold's very identity is undergoing a seismic shift perhaps not seen since the 1970s
when the United States stopped pegging the dollar to gold and began allowing private ownership of it. The
metal's value now is more affected by speculative trading, increasingly complex hedging programs, and
exchange rates in the global, electronic economy.
CLICK HERE FOR 1999 The
The lending of gold by central banks has increased the supply of gold to the market by
encouraging forward selling as a defense against weak prices. This continues to depress prices
further and encouraged investors to sell short in the belief the price would go yet lower But this is
as you know only Paper Gold. A rush to fill contracts could never be fulfilled.
The United States Founders asserted, in the Coinage Act of 1792, that any official of the
government found guilty of debasing the currency should suffer death. Today, our currency has been
depreciated by 1000 percent. The people have been robbed.
With creation of the Federal Reserve System in 1913, and destruction of the constitutional
monetary system based on silver and gold in the 1930s, Congress surrendered tremendous discretionary
power over America's economy to a few men and women in the highest echelons of the nation's
Power that America's Founding Fathers withheld even from the
government, because they understood - and feared - its potential for abuse.
The Public is indifferent to this fleecing
Ignorance based on misinformation.
The Bretton Woods Accord, occurred toward the end of World War II. The United States, Great Britain
and France met at the United Nations' Monetary and Financial Conference in Bretton Woods, New Hampshire to
design a new economic order. This location in the U.S. was chosen because, at the time, was the only
country unscathed by war. Most of the European countries were in shambles. Up until WWII, Great Britain
and the British Pound had been the major currencies by which most currencies were compared. This changed
when the Nazi campaign against Britain included a major counterfeiting effort against its currency. In
fact, WWII vaulted the US dollar from a has been currency after the stock market crash of 1929 to the
benchmark by which most currencies were compared. The Bretton Woods Accord was established to create a
stable environment by which global economies could re-establish themselves. The Bretton Woods Accord
established the pegging of currencies and the International Monetary Fund ("IMF") in hopes of stabilizing
the global economic situation.
DECEPTION PLAY: inflation is higher prices caused by full
employment and a strong economy; therefore, letting the steam out of the economy and slowing growth (and
thereby employment) is "good". This talk is PURE EVIL.
Alan Greenspan. chairman of the Fed Res "worried about inflation", is pretending to control
inflation by increasing interest rates that merely devastated the bond market, clobbered the stock
market, and helped only the bankers. Thus the Insiders are perfectly protected and the scam rolls on.
Do not live in the United States? Have you ever heard of the IMF? same game only
It is of paramount importance and critical the need to keep gold ever cheaper, so as to destroy
the public's confidence in it, should result in the appearance of this gold-selling ploy. The fact that
gold is a useful metal entirely apart from any monetary role might be the pin that pricks the bubble of
our allegedly burgeoning economy.
Prior to all atrocity I maintained that The Muslim world is most irked about this kind of
monetary policy system. A Case study was the Indonesian monetary crisis of 2001, I think a result, is
that as of the first of July 2003 Malaysia has declared that she will replace foreign currency reserves
with gold over the next two years and take the Malaysian Ringgit out of the international fiat trading
system to be the World's first fully gold backed currency once the framework is completed. Malaysia
furthermore intends to renegotiate all bilateral treaties and trade agreements to allow for the fact that
future settlements will be conducted in gold.
Finally, with establishment of the Bank of International Gold Settlements in Kuala Lumpur,
Malaysia strongly urges her trading partners to follow the examples. Such as, the Koran has always
indicated gold and silver for true circulation and not worthless paper or debt backed fiat papers "money"
as introduced by Europe. The ISLAMIC DINAR continues to be minted and used in more than 22 countries and is currently being minted in four countries.
Eventually, the list of countries where it is traded is likely to grow larger because of the some 51 Islamic Countries already
members in the Islamic Development Bank like Malaysia. At this time, the western world does not believe
in gold. Because it has convinced itself that man can control his own destiny.
Since the atrocity of the 9/11 demolition, banking and insurance scam, such delusional thinking has been somewhat
lessened, but in time, as some Muslims anticipate, the atrocity of September will fade away to some holiday.
Case study Rhode Island, Victory in Japan Day is still a holiday there and no where else. Moreover back in
the nineteen forties US citizens of Japanese ancestry were rounded up into concentration camps. Modern Sheeple or
Federal citizens become convinced once more that there is nothing, including matters of money that we cannot fix.
This of course has been proven as pure malarkey, especially when you consider that the depression in Asia was created by
excessive international liquidity made possible by the post-Bretton Woods floating rate exchange system.
MARK MY WORDS, "Halliburton is self aware. Fusion centers have expanded to 72 that control the FEMA "residences" as
BILL HR 645 was passed in your sleep it actually sets up the mega death pandemic that will invoke Marshall law to reduce the
US as 10 regions of um internment. But I digress.
ITS THE FOURTEENTH ANNIVERSARY OF The EURO, IT use to be in lock step with the US Dollar.
find answers to questions along with all the information you will need about the biggest decade old
monetary changeover in history, Here.
When the euro was launched on January 4, 1999, it traded at a healthy 1.18 to the U.S. dollar.
Some thought that the euro would replace the dollar as the world's medium of exchange and international
financiers liked the notion of an dollar alternative.
But the euro had steadily declined, losing more than 25 percent of its value, dropping to only 85
cents in September 2000. It has gone as low as 83 cents. On September 22, 2000 the United States Federal
Reserve joined European central banks to stop further decline by buying euros. As of December 30, 2003
the euro was worth 25% more than the dollar
Click to Bloomberg Analyze the recent performance of the European Euro Debt Crisis vis-à-vis other currencies.
Over the last quater, if gold is up US$3.50 (roughly one percent), Then a penny change can be expected in
the euro/dollar and it has proven true. Other factors over time come into play, but it use to be in pricing lockstep.
Anyway It is not revealed how much money was poured into this intervention, but estimates are $10
billion. American Federal Citizens as well as members of the US Congress were not permitted to vote on
using Federal money to stop the hemorrhaging in the euro's value, any more than U.S. Federal Citizens were
permitted to have any say about any other series of costly Third World or banking U.S. FED. bailouts.
A global or even a regional currency, controlled by unaccountable
bureaucrats in a foreign country, severely diminishes democratic self
government. It disfranchises voters from control not only over their
currency but also over all related economic policies so that important
decisions can be made outside of national elections.
A major legacy of the United States, former Clinton Administration, working in tandem with
the multinationals, is the ceding of bits and pieces of control over our
economy to bureaucracies in Brussels, Geneva, the Hague, Mexico
City and Beijing. The worst is yet to come, Under the rule of US Department of Homeland Security,
FEMA, United Nations, IMF, NAFTA, GATT, WTO and PNTR (Permanent Normal
Trade Relations with China), American democracy is diminished.
However the legacy of King Bush II in both the pre and post 9/11 has been, the `America first' policies
The Bush administrations, unwillingness to honor International Treaties, along with their aggressive
militarization of foreign policy has significantly damaged The US reputation abroad. Created global
tensions and is now viewed as a belligerent superpower willing to apply unilateral military force without
U.N. approval. Or in the words of Ron Paul has created "BLOW BACK". The Obama Administration is merely
a marketing brand spinning hope, change, and much much more!
Completely unreported in the US media, are significant monetary shifts in the reserve funds of
foreign governments away from the dollar with movements towards the yuan. Could Economic retribution of
an uncontrollable and dangerous superpower take place? Despite the absence of media coverage, the
plausibility of slowly abandoning the dollar standard for the yuan has never been more real!
This page was created 09/06/97 updated January 2017 by Mark S. Ohberg, Pearl River, New York Republic.