GOLD AND STOCKS NO LONGER TRADE IN A MARKET;
THEY TRADE IN A “MARK-IT”
Richard J. Greene
How many people out there can remember Hank Paulson’s rants less than a year ago of how this is the strongest economy he has ever seen or how the US economy is the envy of the world? There is something that should be overwhelmingly obvious at this point with his desperate pleas to allow the very same financial powers that got us into this mess to be issued a blank check from the US people that will go directly and only to bailing out his fat cat buddies and their failing firms. What is so obvious is that either he is an incompetent imbecile or he is a total fraud who twists the latest spin to benefit himself and his masters. He proclaims along with President Bush that we MUST approve this bailout package NOW. “King” George went on TV to proclaim it is already a done deal. Could it be that they will not take “no” for an answer despite what Congress or the Senate have to say about it? The average citizen is starting to see that all of this bailout money will not nearly benefit themselves even a fraction of what it will benefit the banks with all the bad debts from malinvestments and incompetent business decisions. Make no mistake… the banks will not start lending again with this package; they will be back for another $700 billion in a matter of months at the most. They will say they need even more now because we delayed too long. The bad debt and derivatives mess is far too big to bailout at any amount.
So prepare yourself for what you can expect over the next few days. Expect to see the stock market decline day after day so that a panic atmosphere is created so that the pawns will give in and approve the package. This will not necessarily entail any intervention. For the stock market to fall under its own weight it merely has to be left free of the almost daily intervention that has kept zombie companies and the major indices afloat. The small benefit the average US citizen can expect from the bailout is that the financial system will not come undone now but rather slightly later.
It is again practically impossible to procure gold and silver in physical form at any where near the manipulated spot prices. Gold and silver companies should refuse to sell the gold and silver they are producing at the artificial prices these “mark its” generate. While many companies must sell much of their production at these illusory prices, they should take steps to find fairer pricing and curtail spending money until true market prices are reached. I have seen other writers claim they expect their gold and silver companies to continue drilling even though they do not have access to fresh capital. That is an insane statement! The correct action for these companies is to wind down programs until credible pricing returns to the industry. Conserve scarce capital; to do otherwise risks extinction. By selling only what is absolutely necessary they are conserving increasingly scarce and valuable company assets until a true market price is reached. When you see that gold and silver for delivery on the COMEX is for cash delivery only you will know we are getting very close to getting true market prices.
IF YOU WOULD LIKE TO SEE THIS HAPPEN SOONER RATHER THAN LATER, CONTINUE TO TRADE YOUR PAPER PROMISES OF GOLD AND SILVER FOR PHYSICAL GOLD AND SILVER IN YOUR POSSESSION IF YOU CAN FIND IT. EVERYTHING YOU SEE HAPPENING IN THE FINANCIAL SYSTEM NOW WAS PLANNED AND IS MEANT TO MAKE YOU THE PAWN.
If a nation expects to be ignorant and free, in a civilization, it expects what never was and what never will be.
- Thomas Jefferson
Richard J. Greene
September 29, 2008
Clearwater, Florida
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