Blog

February 8, 1999 – Several months ago I put forward a very simple proposition. In Letter #233 (“Grist for the Conspiracy Theorists”, October 26, 1998), I first speculated that central banks are attempting to control the Gold price, and then explained analytically the reasons why they may be pursuing such an activity. I also providedRead more

January 25, 1999 – The Internet offers the potential to become one of the greatest technological advances in the history of mankind. I truly expect that in time it will prove to be as significant a development as the printing press, the steam engine, and even as big and an important advancement as the microchip,Read more

January 11, 1999 – One of the biggest issues facing the Gold market over the past couple of years has been the weight of Gold sitting in European central banks. This Gold has been a problem, created in the run-up to the launch of the Euro because so many questions were left unanswered by theRead more

December 21, 1998 – We live in crazy times. Who would have thought that Sadam Hussein would outlast another US president? Or that Bill Clinton, a master of deceit who could be investigated for any number of allegations of dishonesty or worse, would be brought down by the blue dress of a 22-year old WhiteRead more

December 7, 1998 – It would be very easy here to let one’s emotions get the upper hand and to paint a bearish picture for Gold. However, it would not only be the wrong thing to do, it would be painting the wrong picture about Gold and its prospects. Gold looks like and feels likeRead more

November 16, 1998 – I approach all the markets from two different perspectives. I look at the technical side of the market to see what the charts are saying. I also look at the underlying fundamentals in order to determine value as an indication of what the likely outcome may be for the market price.Read more

October 26, 1998 – Most people readily accept the notion that governments throughout the world do not want the Gold price to rise. The reason for this government stance toward Gold – animosity, some would say – is the message that it carries. The Gold price is in essence a report card that measures theRead more

October 5, 1998 – Long-Term Capital Management was supposed to have been run by some of the best minds on Wall Street. Its management boasted that two Nobel laureates and a former Federal Reserve governor were among the glitterati that adorned its high-powered Board of Directors. Its state-of-the-art ‘black-box’ computer models were supposedly developed andRead more

September 14, 1998 – The Gold price has rallied sharply over the past two weeks, and may have formed an important bottom. Though it is far too early for us Gold bulls to declare victory (in this regard, see my thoughts on the technical condition of the Gold market on Page 4), we must notRead more

August 31, 1998 – Something unusual happened this past Thursday and Friday that made me stand up and take notice. As the stock market was falling, the Dollar was getting trashed. The Dollar dropped against all the major currencies, and against the best ones, it fell hard. For example, in those two days the DollarRead more