Tarred & Feathered Gold is still Boiling in Oil
c4Truth, I attached a little text to the article you mentioned
so that new readers here can get a small taste to see if it
is of sweet bitter or sour :o)
gold-eagle.com
Gold Still Boiling in Oil
In what seems like a century ago in terms of all the incredible
financial market and geopolitical developments of recent years,
I penned an essay on gold and oil way back in June 2000.
In my earlier essay, titled "Gold Boiling in Oil", we took a...
... at Zeal, in the last couple years we have mainly focused
on stocks of primary gold-producing and oil-producing companies
in our equity investments.
Our Zeal Intelligence private newsletter clients as well as...
... the world and price volatility and unpredictability
literally exploded in a violent fury.
The Age of Volatility was born!
While some market historians attempt to lay the birth of this
volatility explosion at the feet of the Arab Oil Embargo of 1973,
the last time the Islamic countries attempted to destroy Israel
in their surprise October 1973 Yom Kippur invasion of the tiny
Jewish state, that was not the culprit.
Notice above how the gold price started running higher well before
oil prices exploded, much earlier than late 1973.
... [August 15th, 1971] US President Richard Nixon officially
defaulted on the United States of America's promise to pay
foreign holders of US dollars with gold on demand.
This fateful day will live forever in infamy in American history.
The last vestiges of the proud Gold Standard, which had prevented
the US from printing too much fiat paper currency too rapidly,
were shattered...
... [this] volatile gold and oil graph is a perfect example
of the raw magnitude of the Pandora's nightmares that were...
... spawned when the Federal Reserve was finally freed from gold's
iron-fisted discipline and could print as many dollars as it wanted
is vividly illustrated in the graph...
Rubin's strong dollar policy did indeed suck in a lot of...
... investors believe, largely because of the tireless work
of GATA in digging up evidence, that Rubin's strong dollar policy
was not only rhetoric and jawboning but also included stealthy
attacks on gold...
... days are numbered for this odd historical anomaly.
Adam Hamilton, CPA
April 5, 2002
www.zealllc.com
Mr. Hamilton, a private investor and contrarian analyst,
publishes Zeal Intelligence, an in-depth monthly strategic
and tactical analysis of markets, geopolitics, economics,
finance, and investing delivered from an explicitly pro-free
market and laissez faire perspective. |
