PART I
EXECUTIVE SUMMARY
Bear's Lair
Bear Markets always follow Bull markets and a severe stock market correction is long overdue. Bears Lair will spot, monitor and analyze the stock market correction as it develops.
In recent weeks we have commented on the likely scenario in the equities market as we round out 2001 and head into a new year.
It seems only yesterday, we were hearing a lot about a new era, but now we are actually living in one, not because of Sept. 11th, which is not an occasion to be used to promote self interest.
For the first time since the Roman Empire, legions across Europe are on the march for conquest under a united Euro banner.
Rumors about the demise of the Taliban and Mr. Bin Laden are greatly exaggerated as Mark Twain would put it; I would add official comments on the health of the global economy are even worse.
Let me begin by saying that I am a precious metals dealer. I have been such since November, 1977, and do not sell gold stocks, or any other stocks, for that matter.
After a ferocious year terrorizing traders on Wall Street, the great bear has taken a temporary hiatus, and buyers have been allowed to mark up prices in the first significant rally in several months.
Government pronouncements notwithstanding, the ongoing bombing campaign in Afghanistan is all about oil (a point we recently emphasized in a GOLD-EAGLE editorial) and the stakes are as high as ever.
Interesting that the bond market got roughed up pretty well last week after having rallied sharply for the past several weeks.
We read much that is bearish on gold and gold stocks in the financial press, but little that is bullish in scope. When was the last time you heard an advisor or newsletter writer heartily recommend getting long of gold stocks?
Of the metals, silver is the best conductor of heat and electricity; consequently, it is used widely throughout industry. Including photographic demand, some 845 million ounces were used in 2000.
The so-called "War on Terrorism" has so far none nothing to alleviate the constant threat of international and domestic terrorism, but has always been about the geo-politics and logistics of the oil economy.
What is $6 billion a week, you ask? $6 billion a week, is the number of dollars that are currently being inserted into America's money supply, not counting the actual deficit of billions per year over taxes collected.
Even as the stock market was ascending to undreamed of heights, IAN GORDON warned our subscribers in our June 11, 1999 interview, that we were nearing an end of the greatest bull market in the history of the stock market.
Is everybody looking for a top . . . if even on a short-term basis? Or, is the idea that we won't drop because 'everyone' thinks we will, actually an excess of double-think?
"The case of Howe vs. Bank for International Settlements et al."
NOTE: This column has been revised, because one paragraph assumed that everyone knew I was a precious metals broker in 1980 and before, and could indeed refuse to sell to clients who requested silver when it ro
"Execute unrestricted warfare against the forces of Imperial Japan" were the orders of the day for December 8th, 1941.
Modern economic thought, encumbered as it is with traces of Marxism, tainted with the flaws of Adam Smith, and permeated with the fallacies of J.M.
Ciprofloxacin is said to be the best antibiotic for the treatment of anthrax. I am not in a position to deny this, but because anthrax-especially the deadly pneumonic version-is so rare, I wonder how this discovery was made.
While grieving over the horror of September 11, 2001, American investors must not lose sight of the investment implications of the new war on terrorists. It has been quite some time since the U.S.
During the course of any given week we receive a good number of questions related to gold, the stock market and economic affairs.
Words pale, if not fail, in the aftermath of the September 11th tragedy and continuing terrorism. These are not occasions to be used to promote self interests.
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78 percent of the yearly gold supply--is made into jewelry.
