Splish, Splash - The Dollar's Taking a Bath!
By: Edgar J. Steele | 25 March, 2007
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| This past week saw the dollar flail like the new kid in swimming class, accidentally in over his head. Remember him? Splish...splash...splosh....gurgle... He's up! He's down! Finally, the instructor takes pity and hauls him closer into the shallow end. For a time, despite significant rescue attempts, it seemed as though the dollar might actually be allowed to sail under 82.00. Then, just like a clock, on Friday the dollar straightened out and held the line....at 83.00. Precisely, too - not 82.99 and not 83.01. Precisely, exactly 83.00 was its close. What a coincidence! I must be psychotic. Or is that psychic? I keep confusing the two. Full Story |
It's the Dollar, Stupid!
By: Edgar J. Steele | 14 March, 2007
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| My name is Edgar J. Steele. Why do gold and silver usually decline along with the stock market these days when it should work the other way around? Write down the following on a sheet of paper in big block letters with a felt-tip marker and pin it on the wall above your desk where you can see it every day: It's the dollar, stupid! Full Story |
Goldcorp: Feeling Glamis All Over?
By: Edgar J. Steele | 5 September, 2006
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| These are wild times for metal stocks, as evidenced by the recent flurry of hostile takeover bids and friendly mergers and consolidations. All this indicates a belief by some, at least, that the stocks of takeover targets are undervalued. Some allege that this undervaluation results from the illegal rigging of world metals market prices by some of those same companies attempting to acquire others, particularly Barrick Gold Corporation's pending hostile takeover bid for Novagold, now that Barrick has bagged Novagold's own former hostile-takeover target, Pioneer Metals. Full Story |
Doomed!
By: Edgar J. Steele | 15 June, 2006
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| When does a metals bull market correction get redefined as a metals bear market? It doesn't. Not these days. You are witness to the manic death throes of the dollar. You want to talk doomed? I'll show you doomed. The dollar is doomed. Both Alan Greenspan and George W. Bush have seen to that. Doomed, I tell ya. Doomed! Full Story |
Market Update 06-5
By: Edgar J. Steele | 13 May, 2006
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| Head for the hills. Hunker down. Trade your dollars for something that will survive the coming debacle. Have priorities and ensure your family's safety and relative comfort, first and foremost. Then put away something that will endure. I like silver, for so many reasons, but any commodity will do. Then, if you have anything left and like to play in traffic, try some mining stocks on for size. Full Story |
I See a Silver Moon Rising
By: Edgar J. Steele | 2 April, 2006
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| On January 28th, here is how I responded on a public forum to someone who wondered aloud as to whether silver might break through the $10 price level by the end of 2006: "This year!?! How about this next week? $20 silver by year end, perhaps even summer, is looking more and more likely to me..." Full Story |
Peak Silver
By: Edgar J. Steele | 18 November, 2005
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| This point bears repetition: Silver today is a much rarer precious metal than is gold. Recall our discussion above concerning the price inelasticity of the demand for oil. That goes several times over for silver. Per production unit of consumer and industrial goods and equipment, the consumption of silver is exceedingly small, so that industrial-demand-driven prices are very inelastic. In other words, the price of silver could triple and add but, perhaps, a penny (that's a dollar in future Greenspanbacks) to the cost of your next TV set. Even a hundred-fold increase in the price of silver would not affect the purchase price of most industrial and consumer goods by much. Or a thousand-fold increase, for that matter. Full Story |