Ding Dong, the Witch is Dead! by Edgar J. Steele


Ding Dong, the Witch is Dead!

Market Update 8-3
by Edgar J. Steele

February 26, 2008

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My name is Edgar J. Steele.

Silver is up .40 per ounce in the overseas markets tonight at 8:30 PT. That’s $1.10 on the day, as of this moment.
This is the way silver works. Its volatility is kind of like flying jets or trying lawsuits:  long periods of boring inaction, interspersed with brief spurts of euphoria and stark terror.

That also is an increase of over $5 per ounce since Jan 1 of this year when everybody else said PMs sharply would correct downward and many jumped ship, saying I was nuts not to warn my list to sell out immediately.  Recall that I said, instead, that I thought a major spike upward was in the making.

What I haven’t shared until now is that, every time silver dipped markedly in the past year (once as low as $11.50 per ounce), I loaded up as much as I could, even going deeply into hock to do so.  I never recommend that others incur debt to support investments, not even margin debt, but, then, I’ve never listened much to the voice of reason, myself.

Silver, of course, is up $11 per ounce since I called for moving from gold to silver a little over two years ago, which itself evoked gales of laughter all around for a month or so, until the last sharp upward spike in silver then promptly took place in the winter of ’05/’06.

And that completely ignores the $14 per ounce increase silver has experienced since I first called for buying gold and silver five years ago, when everybody called me a complete loon.

I love the sound of laughter.

The dollar plunged beneath 75.00 finally today and, I think, for good this time, after about the period I saw it being defended, just as I said it would.  All around the world, the dollar is turning into a punching bag.  Witness the total lack of effect that the phony announcement of a massive IMF gold sale had upon the market.  Ding dong, the witch is dead – the wicked witch is dead.

What should concern people is not that I have been right about every, single thing I’ve been preaching since I started preaching. What should concern people is that all that I have forecast for America has not yet taken place (see Defensive Racism‘s chapters on economics and world war) – not by a long shot.  In fact, things are just starting to warm up.  Also consider that what occurs economically merely is a reflection of fundamental shifts in the fabric of society.

I don’t buy into the explanation offered a few months ago for silver’s inaction in the face of gold’s ascent:  that silver lags gold and its ascent presages gold’s decline.  I think gold is just getting started, too.

Truly, things now are quickening, both here and abroad.  2008 should prove to be a most interesting year.  Just think:  we have ringside seats for some serious history being made.  Fasten your seat belts, if you have them.

-ed Copyright ©2008, Edgar J. Steele

Forward as you wish.  Permission is granted to circulate both the written and audio version of this Nickel Rant among private individuals and groups, post on all Internet sites and publish in full in all not-for-profit publications.   The audio version of this Nickel Rant may also be freely used in its entirety by for-profit broadcasting entities, but is not to be included in any recorded format which then is sold to others.  The audio version may be rebroadcast, either live or archived on the Internet, either copied or linked directly to my web site, profit and nonprofit alike, so long as it is used in its entirety.  In fact, I encourage any and all radio hosts to use it freely.  Contact author for all other rights, which are reserved.


On-Line link to this rant in HTML format: http://www.conspiracypenpal.com/columns/update0803.htm


About Gunny G

GnySgt USMC (Ret.) 1952--'72 PC: History, Poly-Tiks, Military, Stories, Controversial, Unusual, Humorous, etc.... "Simplify...y'know!"
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