Friday, May 13, 2005

The US Dollar

I was wrong about gold not going below its base price level of about 425. The USD moved up more towards 86, so gold went down below that level. On the other hand the USD is now at 86 which is serious resistance so I doubt gold is going lower than today. I have to hand it to the cartel. They are doing a good job of influencing the markets and controling the mass media. Joseph Goebbels would be proud.
Goebbels at Nuremberg — 1934

Man oh man. When gold and silver blow, it should be really something since the government has gone sooooooooo far out of its way to manipulate/rig/influence (what ever you want to call it) the US markets. It takes the purchasing power of about USD 2,000 of today's dollars to equal the January 1981 purchasing power of about USD 870,
which was the price of an ounce of gold at that time.

The most amazing thing is that it appears that Americans are continuing to go even deeper in debt.

Most American "money" managers don't know what a bear market is, couldn't recognize one if they were in one, which they are if they are equities managers. The ignorance of Americans is astounding, and their government is cheering them on.

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