Blog

March 13, 2000 – Everything you can think of about this multi-year rise in the stock market has been unprecedented – its duration, the price appreciation, the IPO speculation, the breadth divergences, the divergences between the Dow averages and the Nasdaq. Well, you get the picture. I could go on and on listing the onceRead more

February 28, 2000 – I have received a lot of questions asking what I intend to do next to pursue the status of the Gold Reserves supposedly stored in Fort Knox. For now, I am sticking to my original strategy, which has two elements to it. First, I am still in what I believe toRead more

February 21, 2000 – At last I have received a reply from the US Treasury Department in response to my questions about auditing the US Gold Reserves stored in Fort Knox. The letter was written to my Congressman, The Honorable John Sununu, by Mr. Jeffrey Rush, Inspector General of the Department of the Treasury. Here’sRead more

January 31, 2000 – In recent letters I have referred time and again to the predicament of the shorts, and more specifically, to those short physical Gold. I keep getting a lot of questions on this point, so I would like to explain why the shorts are vulnerable. I will then go on to alsoRead more

January 24, 2000 – In Letter #233 (“Grist for Conspiracy Theorists“, October 26, 1998), I laid out my view – now well known to the readers of these letters – that the price of Gold is being manipulated, and that governments are the manipulators. The reason for this biased government stance against Gold is theRead more

January 11, 2000 – My congressman got a reply from the Treasury Department, sort of. Here is what was sent to The Honorable John E. Sununu by Linda Robertson, Assistant Secretary, Legislative Affairs and Public Liaison. Dear Mr. Sununu: Thank you for your letter of December 1 concerning the inquiry from Mr. James Turk. WeRead more

January 10, 2000 – Central Banks Control the Gold Market? I offered in that report what I still believe to be an accurate and exhaustive analysis of the relationship between central banks and Gold. Central banks and their influence on Gold have always been something I have monitored closely. The monograph appeared long before allRead more

December 13, 1999 – In the 1970’s a very courageous gentleman named Edward Durrell claimed that substantially all of the US Gold Reserve being stored at Ft. Knox was gone. Only 1,000 tonnes or so of the 8,500 tonnes supposedly being stored there remained. The rest had been secretly taken from Ft. Knox and shippedRead more

December 2, 1999 – This is to let you know that Kjeld Thygesen and I are no longer managing or advising the Midas Fund. As of yesterday, our contract was not renewed. That’s the bad news. The good news is that we are trying to purchase the Midas Fund management contract, and thereby re-establish ourRead more

November 22, 1999 – “We assume that the currency which is in all our hands is fixed, and that the price of bullion moves; whereas in truth, it is the currency of each nation that moves, and it is bullion which is the more fixed.” – Henry Thornton, 1802 This quote from Henry Thornton’s wonderfulRead more