Gold Editorials & Commentary

It is unwise to be too sure of one's own wisdom. It is healthy to be reminded that the strongest might weaken and the wisest might err.

- Mahatma Gandhi        

Summary

The purpose of this essay is to show just how distorted (overpriced) the US stock markets have become during the last decade. The main exhibit to prove this point is the relationship between the price of the S&P 500 Index and the P/E ratios for this index.

Persisting faith . .

What if the major stock market averages were to trade in a wide range over the next 15 to 20 years, between 6000 and 12000ish on the Dow for instance? Could you name that tune?

In these times of faltering growth and worries about a relapse into recession, we ask pointed questions about the competency of our leaders and policymakers. Is Mr. Bush not doing his job? Is Mr. Greenspan not doing his?

Popped Bubbles Expose Lies

Most people will be surprised to discover (as I was) that the long "Kondrat'eff Wave" about which so much has been written is less an Economic phenomenon than it is a Biological phenomenon.

Inflation And Prices

"Disgraceful."

We had asked Lord Rees-Mogg what he thought of Alan Greenspan's speech in Wyoming.

One year after . .

The most wonderful thing has happened! The recovery has arrived. The recession is over, and there are sunny skies ahead. Ask anyone on CNBC, if you don't believe me. Ask Sir Greenspan, and he'll tell you.

Deflation is popularly defined as a general fall in prices; it is the opposite of what most people generally think of as inflation. It is most commonly associated with the Depression and with the recent economic woes in Japan.

Hello everyone, this is Joe Foster with a Gold Market Update on Monday, September 9th, 2002. Our next Update will be on Monday, October 7th, 2002.

Once lauded in congressional love-fests and accorded rock-star-like status by legions of stock market investors, Federal Reserve Chief Alan Greenspan is increasingly being attacked by critics.

"We can't ensure success, but we can deserve it"

George Washington

Absent Wall Street & Political Spin, We saw No Promising Signs

December Gold: $319.80

Critical underlying support: $317.50

Critical overhead resistance: $324-$326

Would you put Greasy Smeazy's Motor Oil in your Mercedes, Ford, or even lawn mower? Of course not. "Greasy Smeazy" would be the hallmark of that motor oil.

Durban Roodeport Deep (symbol: DROOY) is a stock that is very near and dear the hearts of thousands of traders and investors. When Durban is hot, it can be one of the fastest-moving, highest-rewarding stocks among low-priced gold shares.

This study was originally made and published in 1997. However, the gold market has made a secular bull reversal movement to warrant a revisit and reevaluation of future projections.

Metals

Greenspan's remarks on economic volatility at a symposium sponsored by the FRB of Kansas City, Jackson Hole, Wyoming struck some important themes for gold traders to contemplate.

Following is a quick commentary of major markets based on some very simple observations of their charts as at the end of this past week.

Bullish Markets

[The crowd] is not prepared to admit that anything can come between its desire and the realization of its desire...while the notion of impossibility disappears for the individual.

Gustave Le Bon,

The Crowd

Swooning along . . . the path of corrective action, Wednesday's stock market once more was hit, although there really weren't the news-related 'jolts' recent breakdowns were characterized by.

You have to hand it to Mr. Magoo. I'll give him an A for chutzpah, that's for sure. The man is nothing but a common criminal of the white collar type. I openly and publicly call the FED chief a traitor, a coward and a common white collar criminal.

Welcome to the land of opportunity! The long-term chart of Durban Deep is one of the most bullish charts I have seen in my entire life.