Blog

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

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