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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: Rocket Red who wrote (57007)2/26/2008 8:37:46 PM
From: Proud Deplorable  Read Replies (2) of 78418
 
"Today's Thoughts:

1. Do you really believe that the debt of bond guarantee companies is AAA? This means practically speaking they are risk-less. Clearly a downgrade in the debt of these entities cannot be reduced without a violent reaction in all markets. The solution is simply to declare the debt of the bond guarantee houses as total blue ribbon items. Pinning a heart on this tin man will not give those bonds life or legs. It is the thinking that has delivered us here.
2. Is there any further question about what moves gold? It is the dollar and only the dollar. Factors move the dollar, and the dollar moves gold. That is the end of this discussion.
3. Are you still looking for a top in gold as many have been for roughly the last $700 up? Those of you who listened to the top callers repeatedly during that great rise in price hopefully learned a few things. Would you have done better just holding or was the zig and zag of selling out of fear helped you more? Why do you think the next $800 will be different?
4. Will you miss the move to $1650 by not being able to stand prosperity?
5. Are you still concerned that slower business conditions are bad for the price of gold under present conditions? Did you laugh at the statement that this concern was hollow in the 70s and is equally hollow in 2007 – 2011?
6. Of course rates are going lower to benefit the financial entities now free to borrow in unique ways from the Fed. They will go to zero if required. It will be required.
7. Have you considered my outline of how gold can rise and NOT fall precipitously? This position was first taken publicly in 2003. Did you listen then? Will you listen now? Many probably will not.
8. If you wager against me in ANY of my activities, the odds do not favor you. You know who you are.
9. Liquidity is the grease of the wheels of equity markets. This will provide violence unparalleled in volatility. Eventually liquidity will take over all markets as this is a duplicate in all aspects of the Weimar experience. Simply take the words of “reparation payments” out of the equation and replace them with the words “OTC derivatives.” Lets hope the degree of displacement is not anywhere near the same.

See some of you in Toronto, Friday.

Good Night.

Your Watchman,
Jim"

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In the looking for a new career dept.....

kitco.com
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