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Odds 'n Sods:
I was glad to see that gold
touched $940 per ounce yesterday morning. The fact that it did
so, just one day after announcement of a
403 ton IMF gold sale was quite encouraging. At this point, I don't
think the central banks will be able to stop the precious metals bull market
without
doing something drastic. The banksters will start
to get nervous once gold passes $1,200 USD per ounce. And at $1,580 (which
roughly equals €1,000 Euros per ounce), they will get truly desperate.
At that point, both the Dollar and the Euro will be recognized as
the toilet paper that they truly are. If gold gets that high, look for some
desperate measures. These could include: more gold sales and leasing (the
central banks hold nearly 40,000 tons!), increases in margin requirements
on the
COMEX,
restrictions on taking physical delivery of futures contracts by all but
industrial users, changes in tax laws that
would tax gold while it is held (rather than just when it is sold), and perhaps
even FDR-style
restrictions on private ownership of gold bullion. There could be some sharp
declines, but look at those dips as buying opportunities, since we are still
in
a
primary
bull
market
cycle, and it will likely continue for at least five more years.
o o o
RBS found us this: California
real estate--nowhere near the bottom yet.
o o o
Celebrate April 19th with Appleseed! The
Appleseed Project is celebrating
the 233rd anniversary of “the shot
heard round the world” by sponsoring 14
weekend marksmanship classes
simultaneously, all across this great nation, from Florida to California
o o o
Despite their massive vote-rigging, Zimbabwe's
ruling ZANU-PF won only 97 seats in the House of Assembly, versus 110 for
the opposition. "Former Communist" dictator Robert Mugabe is
dragging
his feet about leaving power. Hopefully
the hyperinflation-ravaged country will be spared an inter-tribal civil war.
(Mugabe and his supporters are from the
majority Mashona tribe, while the opposition was organized by the minority
Ndebele tribe, with a stronghold
in
Matabeleland.) The economy is a total shambles. Clearly, Comrade Mugabe and
his henchmen
are
doomed
to lose power. It is not "if", but "when."
