Gold Editorials & Commentary

Part I

Unbeknownst to a new generation of be-boppin' baby-boomers, the seeds were being sown for their new-millennium experience with deflation and a collapsing speculative bubble before they were even born.

INTRODUCTION

The gold market came to life during the eight trading days through Friday, rising $ll.90 to $280.50 an ounce. Both volume and open interest, which had declined to historical lows, rose with rising prices.

Whenever one makes an investment, it is smart to look at the upside and downside possibilities. To explain, look at the NASDAQ at 5,000.

Due in no small measure to articles he wrote as a young economist, especially his 1966 essay "Gold and Economic Freedom" (reprinted in A.

The strong dollar is destroying the American economy and with it American society. The banking industry, which has more than any other industry a say in how our country is run, loves a strong dollar because it draws capital into the U.S.

In the year 1999 Daan Joubert, Marion Butler and Joseph Miller jointly authored an ambitious research work titled 12,000 Years of Elliott Waves and What This Means for the 21st Century ( www.gold-eagle.com/edito

On May 22, 2001 the Nasdaq reached an intraday high of 2328, the Dow 11,350, and the S&P 500 1315.  Since then the markets have been held inside of an extraneous trading range with April's lows marking the 'bottom'.  Although this range looks secure in the

GATA Chairman Bill Murphy this morning issued a press release about GATA consultant James Turk's recent discovery about the disappearing SDRs.

An EKG of a tomato . . . would be more exciting than recent stock market action.

Thank you for a mystery for me, but... No, thank you. It does not "rank high with any of the great thrillers solved by Sherlock Holmes", and... it is fiction.

Economics 101, Logic 101, Physics 101, and every other "101," says that what goes up, must come down, and furthermore, a balloon cannot be forever inflated, without it bursting. The way I see it, there are two bubbles or balloons.

The intermediate-term outlook for Durban Deep (DROOY) hasn't looked this promising in years, and long-term holders of this South African mining stock will not be disappointed as several key cycles bottom in the month of August.

An unrelenting grim report . . . from the Beige (or 'Tan') Book, spooked markets in a dramatic way Wednesday; though little of that should have been surprising to any.

Everywhere I look, it's the GDP! Graphs and charts about the GDP, and the GDP forever. As if the GDP means something important. I say it doesn't. Who cares? Why don't I give a non copper penny about the GDP?

The opening quote in the August 3rd Grant's is worth repea7ting: Senator Phil Gramm (R., Texas): "If this is the bust, the boom was sure as hell worth it.

Occasionally stressed intraday action . .

From the flurry of articles and broadcasts not long ago dealing with ATM charges, one might assume that the matter was important. Of course, it isn't, because the ATM machines themselves aren't important.

So said David V., a client of mine who, if there ever was someone in the thick of the financial world, it is he. David, on a daily basis, trades the big stuff, for a large New York company. He's sharp, experienced, and savvy.

Letter from a Durban Deep investor: "I have a lot of money in Durban Deep 25000 call options I paid 160 with a 50 Rand (US$8) strike price. They are due to expire June 2002. I read a report [recently] that said gold could start up soon.

From 1996, the year Alan Greenspan declared stocks to be "irrationally exuberant", to March 2000 one of the greatest theft schemes in American history took place as Americans willingly followed one another to their financial demise like, like millions of lemmin

From a sociological standpoint, watching people react to the current economic situation is fascinating. The media is sinking even lower in my estimation as they continue to shill for the corrupt elite running this planet.

Tenaciously holding overnight . . . (guidelines for those inclined), the DB retained a very successful 'bet' on the projected final hour recovery Tuesday, continuing into Wednesday at a minimum.

The gold price began a renewed trend higher after registering a two-month low of $265.35 on July 5th, the same day the U.S. Dollar Index recorded a new long-term high. The dollar has since weakened and gold moved higher to close Friday at $269.90.

I get a lot of things forwarded to me by clients and friends, and I, in turn do the same to them.

This past December I wrote (Letter No. 276, "The Smoking Gun") about my discovery of a discrepancy between two reports that tracked the status of the US Gold Reserve. The Federal Reserve prepares both reports.

Each time I surf I am amazed about the amount of information which has become available on the Web. And not to forget the formidable search tools developed in the few years since the Internet came into being.

HOW MUCH LONGER CAN THE TREASURY SELL GOLD?

HOW MUCH LONGER CAN THE U.S. DOLLAR LIE BE MAINTAINED?