Blog

August 7, 2000 – Every once in a while a bubble is created in a market. Bubbles can occur in any market, whether stocks, commodities, real estate or whatever. As an example of a bubble’s capacity to strike anywhere, even old baseball cards – considered by some to be a worthwhile collectible – experienced aRead more

July 24, 2000 – Is Gold money? Or is it jewelry? The answer to these questions about the essential nature of Gold is of fundamental importance to everyone who has an interest in Gold. It is the nature of a product, good or service that determines its usefulness. The more useful it is, then theRead more

July 17, 2000 – “The price has to stop falling before it can begin rising.” These words of advice were offered to me by a good family friend back in early 1974. Not only was he describing some specific stocks, but he was also talking about the stock market in general, which was taking anRead more

June 26, 2000 – Energy Secretary Bill Richardson has been screaming about high oil prices. Al Gore and countless other Democrats have been harping about price gouging by the oil companies, particularly in Illinois and neighboring states where gasoline is selling for around $2.25 per gallon. Even Texas Governor George Bush has gotten into theRead more

June 5, 2000 – A couple of weeks ago when the Dow Industrials were threatening to break below 10,000 and the NASDAQ looked ready to collapse through 3000, the stock market’s traditional summer rally seemed an impossible dream. What a difference a week can make. The perennial bulls are once again singing like larks onRead more

May 15, 2000 – In recent letters I have been purposefully directing everyone’s attention to the Commodity Research Bureau Index. Though the components of this index were changed a few years ago, weighting it more heavily toward energy and less so toward agriculture, the CRB Index is still a very useful measure and important indicatorRead more

May 1, 2000 – A week ago both the stock and bond markets were jolted by an unexpectedly large jump in inflation. That there was any surprise from these latest reports seems strange to me. There are warnings of renewed inflation all around us. Nearly every Wall Street economist says that inflation is under control.Read more

May 1, 2000 – I got a lot of response to my last letter, which reviewed my correspondence from the US Treasury and its Department of the Mint. I can’t tell you the number of people who asked me what do I really think about whether or not the Gold Reserve is safely stored inRead more

April 10, 2000 – At last the Treasury Department has answered my inquiry from August about the auditing of the US Gold Reserves. I have just received a March 29th letter from Mr. Dennis S. Schindel,Assistant Inspector General for Audit, who works in theDepartment of the Treasury, Office of Inspector General. Mr. Schindel was respondingRead more

March 27, 2000 – In an article entitled “Managing Markets” published in Letter No. 203 on April 21, 1997, I began to voice my growing suspicion that the Gold market was being manipulated. The source of my immediate concern was some peculiar market events on Friday, April 11th, 1997. I wrote back then: “The ProducedRead more