For those of you
in the Las Vegas
area, we will be
presenting a
workshop at the
Hard Assets
Conference
at the Mandalay
Hotel, September
9 & 10.
See above for
the tentative
schedule and
other speakers.
Hope to see you
there.
Also we
encourage you to
listen to our
radio interviews
on The
Opportunity Show,
click here
for the latest
and check back
frequently for
updates.
A Scary Week For
Investors.....
This past week
was hell for
gold and silver
and precious
metals
investors.
While the long
term support is
still in place
some damage was
done on a
technical basis.
The question on
everyone's mind
is, have we
bottomed? It is
too early to
know for sure,
but at least we
are trending up
in both gold and
silver as we
write this early
Sunday evening.
Let's take a
little advice
from some of our
sources:
Peter Spina,
of
Goldforecaster.com,
who is nearly
always
clearheaded
about these
things, wrote:
"The
short-covering
rally in the
dollar is a
prime driver for
the pullback in
gold prices and
that was aided
by free market
intervention by
Central Banks.
All this has
done is provided
additional time
before the
serious nature
of the financial
crises has to be
once again
confronted ... The
ingredients are
in place for a
significantly
higher gold
price and this
short-term
anomaly only
means that gold
can still be
accumulated sub
$1,000 an ounce.
The rapid rate
at which dollars
are being
created
(according to
shadow stats the
no longer
published M3 is
expanding at
double digit
rates) remains
the primary
driving force in
the gold market,
this cheap
monetary policy
will continue to
debase the
value, integrity
and confidence
in the
faith-backed
Dollar.
Competitive
paper money
devaluations
will enhance
gold's luster
going forward as
hundreds of
billions of
fictitiously
created paper
currency is used
to continue
these monstrous
bailouts with
government
deficits rapidly
growing."
And Jim
Sinclair,
writing on
jsmineset.com,
added: "Certain
hedge funds went
broke on other
items. They were
holding gold and
the last of that
was thrown into
the market to
sell after cash
gold broke $800.
Margined gold
holders went in
mass into
negative cash
positions which
resulted in them
being sold out
last US evening
... As gold hit
its lows ... over
$40 off I am
told the Chinese
entered the cash
market to take
the layoff in
cash gold off
the bankrupt
hedge funds and
negative value
sellouts in the
paper market.
You have seen
massive
involuntary
liquidation last
US evening."
and this in from
Ed Steer
at
CaseyResearch:
"In gold news, I
see that
everyone's
'friend',
Goldman Sachs,
has slashed its
forecast on gold
prices. This is
the second time
they've changed
their forecast
this year. How
long will it be
before they have
to revise it
upwards again?
Not that long I
would think. The
US Mint
announced that
it has suspended
production of
gold eagles
until further
notice, and is
not accepting
new orders from
dealers. August
is only half
over and gold
eagle sales have
exceeded all
other months by
a wide margin.
As I reported on
Thursday night,
everything was
fine with my
bullion
supplier. Then
yesterday
(Friday) he told
me that despite
record orders
again...every
one of his
Canadian and US
suppliers had no
product for him.
He can get some
gold, but he's
basically out of
business in
silver. He said
that by early
next week,
virtually all
North American
bullion sales
will have ground
to a halt, as
nobody has
anything to
sell. I hope you
have your
bullion, because
now that the
pipeline is
empty, it will
be virtually
impossible to
refill....
My first story
of the day is
about exactly
that. Here's an
article by the
legendary
Franklin
Sanders. It's
entitled "Either
This is the
Greatest Silver
and Gold Buying
Opportunity of
All Time, or the
End of a Bull
Market".
The link is here.
One quick quote
from the article
linked above,
"Five years into
a bull market in
1987 the Dow
plunged over 30%
in just four
days. Was the
bull dead?
Hardly, it rose
over ten times
in the next 12
years."
With "Fear in
the Streets"
what do we do?
Are you going to
sell into this
fear and
weakness?
Of course not!
This smells of
opportunity and
I encourage you
to step up to
the plate and do
some selective
buying of your
favorite mining
shares and/or
the long-term
warrants.
There are so
many incredible
buys in today's
market, I would
not delay and we
have the
seasonality now
working in our
favor.
Many of the
warrants in our
database for
selling for
pennies and do
not expire for 3
or 4 years
presenting some
outrageous
opportunities.
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A Look Over My
Shoulder
Dudley Pierce Baker’s Personal
Portfolio
In my new
service, "A
Look Over My Shoulder" discount pricing
for current subscribers
is available.
Please take
a few minutes and review my write up for this service
which literally gives you an inside look at my entire
portfolio including my warrant holdings. Let me
stress, if you are happy with our current service and
database, you are under no obligation to do anything.
We will continue to strive and maintain the best and
most comprehensive database in the business.
Dudley and
Support Staff
Precious
Metals Warrants
