Blog

October 15, 2001 – When gold resumed trading in New York after the disruptions related to the September 11th attacks, gold held tenaciously around $290. For the first 17 trading days, every dip in gold was bought, and there were several assaults on over-head resistance around $292, with gold briefly trading above that level. IRead more

October 1, 2001 – September 11th began for me like most other business days. I had been in the office for almost an hour, catching up on what had happened in the markets overnight as well as reading my email and newspapers. As I finished a telephone call around 8:45am and hung up the receiver,Read more

September 10, 2001 – Even before “Crashmaker” arrived in the post, I knew that I would like this book. My expectations were high because I’ve known both of the authors for about fifteen years, so I understand what they are capable of achieving. Furthermore, I hold both of them in very high regard because ofRead more

August 31, 2001 – I’ve been waiting for it to happen, and now the war of words has finally begun. The Bank for International Settlements today fired the first shot. As reported in today’s Financial Times, Giacomo Panizzutti, head of foreign exchange and gold at the Bank for International Settlements, was quoted as saying thatRead more

August 27.2001 – In the last two letters I have written about the earmarked gold stored in the vault of the Federal Reserve Bank of New York. Foreign governments and institutions such as the International Monetary Fund own this gold, and it is ‘earmarked’ in order to specially set this gold apart from the USRead more

August 13, 2001 – Here’s a mystery for you. It ranks high with any of the great thrillers solved by Sherlock Holmes, but this one is not fiction. I have been arguing that the US Treasury and possibly the IMF have been selling gold, and that their actions have depressed the gold price. But ifRead more

July 23, 2001 – This past December I wrote (“The Smoking Gun“) about my discovery of a discrepancy between two reports that tracked the status of the US Gold Reserve. The Federal Reserve prepares both reports. The first report is the balance sheet of the Federal Reserve, and the item of note is an entryRead more

July 9, 2001 – Do you know which company’s stock has been listed on the New York Stock Exchange longer than any other? You might guess US Steel or perhaps AT&T, both of which have been around for quite awhile, but neither of these two venerable companies’ stock is the longest listed. That honor goesRead more

June 25, 2001 – When we look at recent and current economic and financial activity within the United States, it seems very logical to ask why is the dollar so strong? After all, factors that both logic and past experience say should have weakened the dollar have had little or no affect on the dollar’sRead more

June 4, 2001 – It is probably not too surprising for you to learn that at the recent conference in Durban, South Africa sponsored by , a number of questions were asked of me and the other speakers about Alan Greenspan. People eagerly want to learn more about the man. It seems that his wordsRead more