first majestic silver

Into the Abyss

April 17, 2000

There were a series of movies made in the 1940's and 50's chronicling the adventures of a fictional American "hillbilly" couple called Ma and Pa Kettle. I'm thinking the stock market version should be called "Ma and Pa Kettle at the Kitchen Table." This weekend is what may very well vaporize both the NASDAQ and the DOW next week. The herd has believed. Oh, how they have believed. They have believed in the new economy, the buy on the dips mantra, that stocks will always return 25% a year, etc. etc. etc. On Monday, April 17th 2000, that belief will be sorely tested. There are only two things that I'm sure about Monday. The first is that the powers that routinely manipulate the stock, bond and precious metals markets will be in full combat manipulation mode. All the manipulator's reserves will be activated. All the dirty tricks, criminal fraud and tools of the trade will be seen in their naked glory. The second thing I'm sure of is that it might not matter this time. It will be clear whether the herd's psychology has changed in a week or two. I don't see how anyone holding stocks can view what has happened in the stock markets this year with optimism. The combination of extreme volatility, horrible technical indicators and massive point drops is a sure sign of the end of an era.

This essay will cover three areas: what actually happened, how the lap dog press covered it and how the globalists will use the chaos to achieve their goals of a corporate dictatorship. The first is easy to describe. In "Wall Street Steers" I said that the United States had entered a new era of increasing interest rates and inflation. The herd has now concluded I was right. That's why the discussions going on right now throughout the country are so crucial to the survival of the present economic order. The only thing the corporate and political pigs have going for them, their only seal of authenticity, is they delivered on the stock market. Take that away and their reason for being in control fades away.

I can look calmly at what happened on Friday because I don't own any stocks. No 401k plan. No IRA. No nothing. People like me don't count to the pig system. I'm somewhere between insignificant and invisible. The only assets I have are in physical gold, which is the only place to be these days. The New York Stock Exchange had 2,673 declines and 335 unchanged versus 440 advances. The NASDAQ had more stocks unchanged, 604, than advanced, 542, the rest, 3, 877 declined. Every single stock index, S&P 500, Russell 2000, Lipper Large Cap showed declines of varying intensity. It was what can only be charitably called a stock market meltdown.

The fundamentals have changed. The herd has figured it out. Now even the stock market experts are saying it was "inevitable." No it wasn't. It wasn't inevitable that the criminal GreenSpan inflated the money supply to satisfy the political needs of the child king. It wasn't inevitable that the corporate media engaged in a conspiracy of silence to mislead the American people and stoke the fires of greed. It wasn't inevitable that a systematic and illegal war against precious metals was waged. It wasn't inevitable that the stock market was rigged and manipulated to provide the illusion all is well.

How did the lap dog press cover this? In their usual, lying way is how. One of the reasons I have such contempt for the corporate media is: they ignore problems while something can be done about them; however, once a crisis hits they make it worse. The lead headline in our local Newhouse media rag, the Airgonian, is a large banner "Wall Street's worst week." Excuse me? Below it "The Fall: indexes post biggest point losses ever." Above the original banner headline are three AP pictures of stunned traders and investors. First, the media persists in reporting point losses and not percentages. The 1987 loss of 500 points represented nearly 20% of the stock market at the time. A similar 20% loss today would be over 2000 points. It is bad journalism, sloppy economics and shows just how incompetent and lazy they really are. This Saturday lead is designed to stoke the fires of panic at the kitchen tables I mentioned earlier. Friday saw the loss of nearly 2 TRILLION dollars in equity. Fiat money: easy come; easy go.

Now why would the corporate press deliberately try to freak out soccer moms worried about their stock options? The usual government/media/corporation game plan is why. When the Argentine military dictators were facing a march by the Mothers of the Disappeared, a march that could have ignited mass public protests, how did they react? They invaded the Falkland Islands to divert attention. When the Russian oligarchy faced serious questions about its theft and corruption of IMF billions, how did they react? Putin had the KGB bomb a few apartment buildings and then invaded Chechnya. When the WACO hearings were first starting and threatened to expose Clinton, how did he react? He had Oklahoma City bombed to divert attention and tar his conservative opposition as child killers. Now we have the specter of serious opposition to the global new world order in Washington D.C. beginning Tuesday. We also have the prospect of rioting in Miami over the Clintonista's appeasement of Castro the murderer. What better way to neutralize questions about globalism and appeasement than a bona fide stock market crisis next week? Everyone will be so worried about their 401k plans that they won't worry about corporate predators. If he plays his socialist cards right, the child king will even get more government authority to "help protect the American people."

I see that People for the Ethical Treatment of Animals dumped four tons of manure outside of the International Monetary Fund headquarters in Washington D.C. Hmm, that is unusual. Usually, the manure flows out from government buildings of all types: it's called a press release.


There is no worse bitterness than to reach the end of your life and realize you haven't lived. -- M. Scott Peck

Small amounts of natural gold were found in Spanish caves used by the Paleolithic Man about 40,000 B.C.
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