Subscribe to our newsletter over at our new website:
http://www.investletters.com
May 21, 2008
May 2, 2008
Dennis Gartman Expects Central Bank Selling To Hold Price Down
Dennis Gartman, everyone’s favorite gold analyst, said yesterday (even before the carnage) that he expects the gold price not to recover much any time soon due to what he expects will be central bank selling. He thinks the banks will sell the allotted gold under the Washington Agreement and that will keep a lid on gold prices.
He could be right. And we all know how central banks have a habit of selling at the proper time, right? Gordon Brown didn’t seem to mind that he cost the British citizenry billions by his inopportune selling of some years ago when the gold price was a fraction of what it is today.
From what we have seen in the last decade, any time a central bank offered gold for sale it was wise to get in line to buy it. Maybe it’s supposed to be a form of government hand out?
Unfortunately, if history repeats itself, Dennis Gartman won’t be bullish on gold until its “showing strength” which may not be until it blasts past the old high. I rather be an owner at $850 and watch it tap $780 than to be an owner at $950 or $1025.
You can many times make a fortune buying when there is blood in the streets. There is blood now. But be careful what you buy.
This months issue of the International Speculator was just released yesterday. Try their risk free trial subscription today and you’ll have immediate access to the “Judgement Day” company recommendations.
April 24, 2008
Gun Toting Cops Carry Submachine Guns On New York Subway
People snicker at me in person, Lord knows what they say behind my back, when I mention Doug Casey’s suggestion that things could get bad here in the United States. Doug thinks those who can afford it should find a “crib” outside the United States just in case things get bad enough here that you don’t care to be around. He even has used the term “Greater Depression”.
This morning Yahoo! had a video about New York “Torch Teams”, police carrying submachine guns and wearing body armor, would begin patrolling the New York city subways – accompanied by a bomb sniffing dog. This all paid for by you and me via a $151 million grant from our friends at the Department of Homeland Security. The reporter claimed this was in response to the World Trade Center attacks of 9/11/2001. Oh, yes, that was 6 1/2 years ago. Fast response to that threat.
The reporter also stated that the subway travelers she spoke to thought the MP5 submachine gun toting police were a good idea.
That’s interesting. One New York mom feels so comfortable on the New York subway that she allowed her 9 year old son to ride it alone.
Wouldn’t make me feel any better. In fact, I have been shooting with police officers before, nice guys every one of them. But shooting isn’t my profession and I rarely get an opportunity, but I could typically out shoot at least half of them, and just as good as another 30%. I hope the submachine gun toting cops get plenty of practice (at your expense) and are better than the ones I’ve known in the past.
If you would like to explore the possibilities of life outside the U.S., I suggest you try a risk free subscription to Without Borders from Casey Research.
Do you want to be in tight quarters on a New York subway when police start spraying 9mm rounds from the 30 round magazines on their H&K MP5’s?
