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-- Posted 25 March, 2007 | | Source: SilverSeek.com
March 24, 2007 My name is Edgar J. Steele. (To my long-time faithful readers: Tomorrow I return from my brief semi-exile...I promise. Something to outrage everybody and, then, a follow-on discussion that I think you will find more than a little interesting.) 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. With all American markets up somewhat and, despite steady gains in recent days, both gold and silver solidly took it on the chin Friday, unaccountably (unless you account for market rigging, of course) plunging $7.10 and $.26 per ounce, respectively, on the day's trading, where they now sit until the overseas market opens again, late tomorrow. Ever since Henry Paulsen took office as Treasury Secretary, market manipulation now takes place with no regard to either common decency or legality. No longer does there seem to be any pretense that "they" are not rigging the markets. After all, what are we going to do about it? Call it the Bush doctrine all over again, just being employed in the financial world. Did you notice that the major brokerage firms recently reported record profits yet again? Not hard when you know, each and every day, exactly what the markets will do. Tell me exactly the figure at which the S&P index will close each day for the next month and, starting with $1,000, I will round out the month being worth more than Bill Gates. Their only danger is in making too much money, of course. We have a saying here in North Idaho: Pigs get fat and hogs get slaughtered. I was amused recently to read in one on-line forum how one fellow who holds himself out as an expert in all things financial literally laughed at my assumption that these markets are being manipulated. Why, even the mainstream media now talks openly about the rigging. When MSNBC's commentators dare to mention the Plunge Protection Team, as many have in recent weeks, the fix has become so institutionalized that, next, I would not be surprised to see it made into a cabinet post. The Secretary of Investment Security, perhaps, in the modern Orwellian fashion that has the Secretary of Defense making war and the Department of Homeland Security, based upon results, intent upon making Americans feel anything but secure. So, it appears that the dollar's new reality has become 83.00, a commonly-reported index composed of six foreign currencies, just as I cautioned more than once recently. Next will come 82.00, of course, then 81.00. Where will the dollar index be when the global dominoes all fall down? We won't notice or care, so distracting will WWIII have become by then. I do know the dollar's ultimate destination, however: Zero. By then, we will have been switched over to the Amero, with the all-digital Globo then being openly discussed as the Amero's replacement. Read my book for the gory details and how to keep from becoming a part of the statistical nightmare now shaping up. What escapes one's attention by focusing upon that index, however, is that all western fiat currencies (which means all Western currencies, of course) are being inflated like there is no tomorrow. The dollar's apparent decline merely is against some of those currencies. Nor can we get an accurate handle on how quickly all the currencies are plunging in buying power, due to the worldwide rigging of markets; just that the dollar is moving a bit faster than the others. Without paper gold and paper silver, which is all that futures and options on them really are (and which I increasingly suspect ETFs like GLD and SLV have become, given the nagging rumors of their having leased out their gold and silver, just as did most central banks long ago), the prices of both now would be in orbit, if not well on their way to the Moon, their inevitable destination. Here, let me say it one more time: Cash in your GLD and SLV and buy the real thing. Holding ETFs is the same thing as playing musical chairs, with only a fraction of the necessary chairs available for those circling the room. Had you switched over just a couple of weeks ago, Friday's decline notwithstanding, already you would have recovered the commission incurred in making the conversion. I still have not entirely followed my own advice, in case that somehow reassures you. Call it lethargy or an attempt to bottom fish or whatever. Regardless, it is foolish. See? I readily admit to it. Don't dare even mention stocks or bonds to me. Holding equities today is beyond foolish and can best be described as downright stupid. 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/update0706.htm
-- Posted 25 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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