Richard, I have just read yesterdays posts on this thread and
noticed a request from someone for an update on Bill Murphy.
Follows is just a very small portion from the Cafe, but it includes
mention of a Kondrattieff wave student of interest.
(from lemetropolecafe.com)
Taylor: Last month, Dr. Ravi Batra, who was interview in these pages
last month, said he thinks it is highly likely we will see a market
crash by the end of this year. At the very latest, he believes we will
suffer a catastrophic downturn during the first or second month of 2000.
And the only long-term investment he is suggesting people make is in
gold and gold shares.
Murphy: I could not agree with him more.
Taylor: What you are saying dovetails pretty well from a timing
perspective not only with Batra's views but also with the views of Ian
Gordon, a Kondrattieff wave student who also thinks the market will
crash before year end. In fact, Ian has chosen a specific date early in
September. I would not want to be so specific myself, but that is what
he thinks.
Murphy: Well, let me just add something here if I may. A top-flight
financial man in England named Kenny Butler Henderson told me he had
lunch with Alan Greenspan in 1971. Greenspan told him then that his goal
was to become Chairman of the Federal Reserve Bank. At that time
Greenspan, was a Kondrattieff disciple himself. He told Henderson that
he would do anything he could to prevent the Kondrattieff wave from
crashing on his watch. And it appears to us that this is exactly what he
has done. But we think he has only postponed the inevitable.
Taylor: So you think he has been doing all he can to fool the natural
cycle of the Kondrattief Wave.
Murphy. Yes, we think he has been facilitating the bubble and part of
this facilitation has been to hold the gold price down and to take all
the money these institutions could borrow in the gold markets and use it
for other purposes. I can't blame Greenspan solely for all this. He had
Secretary of the Treasury Rubin there too with his powerful Wall Street
connections so Greenspan may not have had all that much choice in the
matter.
Taylor: Of course, Greenspan wanted to do his job well and nearly
everyone worships this man.
Murphy: They do now. What will they say if the markets collapse? Watch
what happens when folks begin to see their 401-k savings evaporate.
There will be a witch-hunt. Meanwhile, the big guys, i.e., the Roberts
Rubins of this world will have retreated from the market while the
average Joe will not know what hit him. We think this process may
already be underway evidenced by the continued weakness in the stock
market. Although the popular averages have held in pretty well, the
average stock on the NYSE is down something like 20% from its peak this
summer.
Taylor: On another note, have you ever been concerned about your
personal safety in your hunt for the truth regarding potential
manipulation of the gold markets?
Murphy: Yes, I have been warned by many.... |
