George,
A Trojan Horse for George Armstrong.
I am in the process of doing my homework on Martin Armstrong and his calls and filling the horse with his own information over some time ( my own kind of soldiers ).
I will then send the horse. I am doing this: 1) because I am interested in his clarification of his gold position and reasoning process and 2) in a good spirited "Crossfire" way I would like to invite him to my lemetropolecafe.com at my Dos Passos Table ( guest forum )so that he can elucidate his position on gold and anything he wants. I am going to challenge him ( and his legion of support staff ) for his opinions of the financial markets over the next year and put those positions up against my "economic dream team".
One year later we can go to the library to see who called what right.
In my group, Tice had the number one performing mutual fund in the US last quarter, and the commentary by Joyner, Pickup, and Bennett is right on the money so far. Soon we will have commentary from Barande out of Paris and from Peabody ( our banking specialist ) on his views of the whole financial mess.
I am still trying to find what Armstrong said about gold early summer '97. In it, he called for weakness in gold thru the year and then a move up to $1,000 plus by 2,003. At least, that is how I remember it.
Thank you C Hudson for sending me his May 31,1996 piece in which he says " you're going to see oil most likely reach the $60 - $80 range over the next 2 to 3 years". He will need a nuclear bomb to hit Saudi Arabia for that one to work out.
And thank you THC for sending me this:
Martin Armstrong August 1994
" It appears that we may be on a serious change in long-term trend and that inflation as a whole will tend to rise at least over the next three decades and perhaps even much longer...... Inflation rises as confidence in government declines..... It is interesting to note that the two strongest rallies for gold in "real terms" ( excluding the American Revolution ) took place between 1864-1869 and 1971- 1980. During both periods, inflation advanced, as did the price of gold due to the lack of confidence in government.
The 1971-1980 era marked the next major period when the United States was unable to meet its foreign obligations under the Bretton Woods agreement. As a result, the gold standard was abandoned in 1971 once again and the confidence in government declined taking gold straight upward eventually into a 1980 high of $875.00. This entire period was marked but not merely a collapse in the gold standard, but also a collapse in the confidence of government itself. This period marked the fall of Richard Nixon in August 1974 only to be followed by President Ford and Carter. Ford FAILED to instill a high level of competence in the eyes of the people. President Carter was viewed as honest, yet totally inept. Clearly this was a period where confidence in the Presidency would not have been skewed lower".
I think you can see where I am leading with this one ( my lead warrior in the Trojan Horse ).
Still more info to gather.
Bill
Happy Saloon Keeper.
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