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-- Posted 14 March, 2007 | | Source: SilverSeek.com
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! The dollar is the key. Watch it. Currently, they move heaven and earth to keep it above 84.0. That keeps gas cheap, the stock market inflated and people thinking that it is just another day. It went under 84.0 a bit yesterday. It sank further today. They push the dollar up by manipulating precious metals (PM) and stock index futures markets. They couldn't wait to shore up the dollar until Friday this week because momentum was building from yesterday. Friday is their favored day because (1) so many traders take 3-day weekends, (2) there is no overseas market until Sunday (because it already is tomorrow in Japan, due to the International Date Line) and (3) the lesson of a drop in the price of gold and silver is best imprinted on the minds of an off-work, Internet-surfing, hand-wringing public that must live with their PM losses until the markets open again on Monday. Right now, in the overseas markets, gold and silver are being hammered down - it is easier to do in that much smaller, thinner market. Already, the indicator for the dollar has gone positive, as a result. Expect more tomorrow. Expect lots more on Friday if tomorrow doesn't do the trick and past patterns hold up. When the dollar gets back above 84.0, they let up. Just watch and see if the dollar doesn't move back above 84.0 on Friday if it doesn't manage to get there tomorrow. If we are lucky, by Friday silver might well be bashed down near $12.00, which is a good next buy point. Other buy points might well exist for every 50 cents they knock silver down below 12, if we are lucky enough for that to happen. When the prices of gold and silver come back, it will happen too fast to get on board the train, so put that thought out of your mind. Yes, you are that obvious. Eventually, the dollar's floor-at-any-cost will have to drop to 83.0, then 82.0 and so on. Gold and silver will plateau upward in lockstep with the dollar's stair-step controlled descent. How far can it go? How deep is the ocean? Can you say Z-E-R-O, boys and girls? To keep the dollar Ponzi scheme afloat, they keep increasing the money supply, which originates in debt. If for no other reason, this fact alone guarantees our invading Iran and setting off WWIII. The debt must be blamed on something other than the perps running the system. It is a juggling act where the juggler keeps throwing another ball into the air to add to the in-progress performance, else the audience begins to lose interest. Logic demands that, eventually, he will start dropping balls - probably all of them because he will try to save the first one he misses, then the second, then.... Now that the housing market no longer is sopping up all those excess dollars that must be created, over and above those we give China for toaster ovens and those we expend in the Middle East, they have to go somewhere. The stock market will not decline - they are holding it level to keep middle America complacent (pensions and IRAs, donchaknow) and have been doing so for so long that it now has set a record for sideways stability. Nor will they allow the market to pump up again like they did a few years ago before it laid an egg (the money leaving it went into real estate and commodities). Where will those dollars now leaving real estate go, do you suppose? Been to the grocery store lately? Just yesterday, the dean of Wall Street, Richard Russell, said: "The best measure of the dollar is that number of dollars it requires to purchase a measure of pure wealth -- an ounce of gold. Gold is both the unit and the messenger. The government and the central bank fear the messenger. The reason why they fear the messenger is obvious - they are frightened of the message." The message? The dollar is doomed and hyperinflation can be seen just over the horizon. Yet another reason for war, upon which they will blame it all. It's the dollar, stupid. Yes, it is just that simple. My name is Edgar J. Steele. Please visit my web site, www.ConspiracyPenPal.com, for other messages just like this one.
-ed Copyright ©2007, Edgar J. Steele Forward as you wish. Permission is granted to circulate among private individuals and groups, post on all Internet sites and publish in full in all not-for-profit publications. Contact author for all other rights, which are reserved. On-Line link to this article in HTML format: http://www.conspiracypenpal.com/columns/update0704.htm
-- Posted 14 March, 2007 | |
Edgar J. Steele, Attorney at Law
PO Box 1255
Sagle, Idaho 83860
Admitted in Idaho, Oregon, Washington & California
email: steele@conspiracypenpal.com
Edgar Steele is an author and trial lawyer who has tried cases throughout the West Coast, being admitted to California, Oregon, Washington, Idaho, several Federal District and special courts and the U.S. Supreme Court.
He graduated from the University of Washington with a BA in 1967, then served four years in the U.S. Coast Guard, first aboard ships, then as the Commanding Officer of an East China Sea island LORAN Station during the Viet Nam era.
Edgar graduated from the University of California at Berkeley with an MBA in 1973, then worked for several years in a succession of financial executive positions for corporations, including the Controllership of two companies.
He graduated from the UCLA School of Law in 1982, worked for a couple of years for a small law firm in the San Francisco Bay Area, then struck off on his own.
Today, his law practice is noteworthy for cases that test the limits of constitutional law on behalf of politically-incorrect clients.
Edgar publishes a weekly commentary via the Internet, interspersing observations on the state of American society and politics with reports about aspects of the higher-profile cases he is handling. Free subscriptions are available at www.ConspiracyPenPal.com.
Though Edgar speaks infrequently in public, he has appeared on virtually every national TV network news program and been interviewed repeatedly for Today, Good Morning America, The Early Show, Fox News, Dateline, NBC Nightly News, Court TV (which devoted a full week of broadcasting to one of Edgar's trials recently), Geraldo and CNN, as well as countless local television news programs and radio talk shows throughout America, in connection with both his writing and the high-profile cases he has handled.
Edgar's recent book, "Defensive Racism," an unapologetic examination of racial differences, can be previewed and ordered at www.DefensiveRacism.com.
He makes his home in Northern Idaho with his wife of 19 years and their three children on a working horse ranch.
Edgar wants it known that he, himself, is exceedingly politically incorrect.
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