Gold Editorials & Commentary

The transition from 1999 to the Year 2000 was a smooth one. Contrary to the calamitous expectations and dire forecasts of Y2K "scare-mongers," the lights stayed on and the world didn't screech to a halt.

Spot Gold $283, down $2.40

Spot Silver $4.94, down 2 cents

Through thick and thin . .

All of us are accustomed to growth; it is difficult to imagine that growth is a transitory phenomenon.

". . . THERE IS

AN

Oil producers normally find it in their best interest to add steadily to productive capacity. Gradual addition of capacity year after year keeps oil supply in rough equilibrium with demand as the global economy grows.

Dear G. M. Ross

The best recent sectors . .

The U.S. has had almost two decades of low inflation and relatively low interest rates, which have had a predictable impact on the stock and bond markets.

When I made bold to suggest, on various occasions in the past, that it was remarkable, if not unconscionable, that the word "dollar" was without definition, I was met with a firestorm of indifference, except for a few thoughtful readers who felt that my objecti

Gold bulls have been thwarted again!

An extensive $20 short covering rally by commodity funds and market participants failed to drive the price decisively through a critical resistance of $295 an ounce.

In what has turned out to be an intriguing week for gold, interest continues to grow in several of the major South African gold mining companies.

Although I have never been part of the organization, I've watched the founding and development of GATA (the Gold-Anti Trust Action Committee) with great interest and hope.

"Breaking up is not so hard to do" .

Deutsche Bank, along with some help from Goldman Sachs, bashed gold early today, taking it down almost $6, but the funds came in as buyers, taking it back up late in the day. August gold finished at $290, down only $1.80.

PROLOGUE

$9 Gold Move and Internet Release of

"Gold Derivative Banking Crisis" report:

Just a Coincidence? Maybe Not



Spot Gold $281.40, up $8.90

Spot Silver $4.99, up 9 cents

In the September 8, 1999 issue of our newsletter we interviewed Bill Murphy. Bill believed as do we, that Central Banks in conjunction with the U.S. Treasury have been intervening to keep the price of gold low.

Languishing action . .

The huge jump in the gold derivatives of Deutsche Bank and Dresdner Bank in the last half of 1999 invites all sorts of speculation, particularly when coupled with similar increases at Morgan Guaranty Trust Co. and Citibank.

Gold futures bottomed Friday, May 26th on the Comex - and should begin rallying into June.

Among the factors depressing the gold price in recent years, forward selling and other hedging activities have been prominent. Producer hedging has added as much as two years' of future production since year end 1996 to normal mine supply.

On May 24, the Silver Institute issued a press release, highlighting the particulars of its World Silver Survey 2000, created for them by Gold Fields Mineral Services (GFMS).

So it was recognized -almost immediately after the 1929 Crash- that much of the economic hype and Wall Street exuberance had been unjustified. Yes, the economy had seen almost a decade of inflation-free growth.

The herd must be getting nervous. Peter Jennings on ABC's Evening News has told us about the collapse of both Boo.com and the Digital Entertainment Network on the same day. Looks like all the NASDAQ doomers weren't so loony after all.

The relentless erosion of Europe's new currency is deeply troubling -- the more so because no one seems to understand what is causing the decline, much less why it is all but guaranteed to continue until the euro goes bust.

It's fitting that I write this essay on the twentieth anniversary of the Mt. Saint Helen's Volcano. To truly understand raw power there's nothing quite like observing an exploding volcano from a safe distance.