Gold Editorials & Commentary

One of the enduring myths about government is the notion that successful governments are those entities that "provide prosperity" for those who are governed. The real issues involve who receives the blame for causing the calamity--and who benefits from it.

Gold futures fell out of the proverbial bed on Friday (July 26), falling to a 4-month low just above the psychological $300 mark.

This could be America's next nightmare, and possibly even worse than the stock market going down the tubes. Think about what has been the second biggest balloon of late.

It's always darkest before the bottom falls out - JP McGoran

With the recent meltdown in stock prices, some economists have said that there is no need to be concerned because the stock market does not reflect what is happening to the economy.

Gold rallied over $320 an ounce, ending a month long correction as the euro rose above parity against the dollar. We believe the second leg will begin shortly and will see $375 per ounce before the yearend.

Most global gold indexes, as well as the bullion price, peaked in late May. At that point of time the Dow was trading at 9900 and has since fallen 23% in just eight weeks. All the major currencies appreciated as the dollar took a beating.

Argentina's recent bankruptcy and the spreading financial turmoil in its neighboring countries are just the latest chapters in Latin America's long history of foreign debt and default.

THE ECONOMY & MARKETS

Peering Into a Bottomless Pit

HITS FOUR-YEAR LOW... The Dow tumbled 400 points today and, more importantly, finally broke last September's low. The Dow is the last of the major averages to fall below the lows of last fall.

The stock markets are starting to resemble a dying man fighting off the vultures. The lies that fed the economic illusions of the last decade are being revealed plainly now. The pride, arrogance and greed are on full display for even the true believers now.

Monday, July 15th, will go down in the history of stock market trades as the pinnacle of manipulation. July 15th will be used as the classic case of the PPT in operation.

The Long-Term Outlook - Yearly Time Frame... Technical Analysis (TA) is the study of price trends and volume over various time frames.

I dedicate this Lecture to the memory of Ludwig von Mises, monetary scientist and teacher, who exposed the motives for Gold Wars as follows:

The current market in Australian precious metals stocks is lethargic and showing no imminent signs of improvement (the whole market in fact).

People have always been fascinated by gold. It is thought that the first example of the metal being used as coinage was around 630 BC. It was certainly minted by Darius, King of the Persians in 500 BC.

"Of all men's miseries the bitterest is this: to know so much and to have control over nothing." -- Herodotus

On July 5th, the Dow Jones Industrial average soared more than 300 points on light volume. Weekend television commentary immediately seized the opportunity to encourage investors that the worst was likely to be over.

We hear stories from our government and establishment in general that everything is OK in the economy. But does anyone really believe government numbers anymore?

There is no greater genius than the man who bounces our own ideas right back at us.

That was our first thought upon reading a subscriber's letter to Richard Russell, on his website.

A besieged market . .

Government is inherently stupid, greedy, and self-serving.

I would like to thank all of you that responded to my inaugural article, making it by your measures a resounding success.

"If a nation expects to be ignorant and free in a state of civilization, it expects what never was and never will be." Thomas Jefferson

If the Fed didn't exist…

The plain answer is NO, so you don't have to continue reading, if you don't want to.

Don't Be Fooled by Friday's Market Action

With each passing month, the bear market that began approximately in the first quarter of 2000 is making its presence more fully known on Wall Street and the economy with no sign of let-up in sight.