Dwight and Roebear:
The confluence of events: The Asian crisis, the Year-2000 problem, and its subsequent impact upon corporate capital-budgets, not to speak of the potential social disruption, Iraq's intransigence, our domestic economy's point in its cycle, and now, a new Presidential indiscretion with real possible consequences to the holder of that office, are not what financial-bull markets are made of. In fact, I cannot understand why most pundits have not grasped the enormous disruption to Western financial markets that is beginning to unfold. It is not encouraging.
If again, as is now evident, most are caught unaware, the consequences to the financial markets will be all that much deeper. I think the attempts thus far to mitigate the financial and political bedlam ensuing around the globe has been grossly inadequate.
However, I can honestly say, I think most measures to address it now will be in vain anyway. Frankly, a great US dollar devaluation is likely underway; a self-correcting mechanism that markets dictate without the consent of its patrons.
I shall not be surprised to recant today's and subsequent events to a grandson, or grandaughter, one day, as remarkable turning events in the dynamic of social history during the twentieth- century. It has that indescribable patina.
Well, enough of all that. I cannot fail but to come to the eternal conclusion, that the situation for precious metals will be quite pleasant indeed, not despite of all of it, but beause of all of it.
Passing reflections, yours, T.V.H. |
