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I Love the Smell of
Stock Markets in Mourning
(Market Update 7-2)
by Edgar J. Steele

February 27, 2007

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My name is Edgar J. Steele. 

Aren't you glad you hold physical silver?  Sure it went down today - what's more, it is getting really pasted in the overseas markets this evening.  I hope it really dumps and gets down below $10 an ounce.  Doubt that will happen, though.  Probably $12 and change is the most we could possibly hope for, but bouncing off $14 seems more likely. 

The PPT is in there with both hands right this minute, bailing out the dollar from its swan dive earlier today.  They still have the juice, obviously, because already it has retraced half the ground it lost.

The strain of shoring up the dollar really shows now.  Did you hear the saber rattling earlier today over that patently phony "Al Qaeda assassination attempt on Dick Cheney?"  We should be so lucky!  From here on out, what with central banks everywhere diversifying out of the dollar, only American physical force can forestall the inevitable death of the dollar ... and then, only for a time.  Only force, my little chickadees.  Remember that every time you hope that WWIII isn't just around the corner. 

I wrote this all down three years ago, you know.  It is unfolding - everything political, social, economic and military - just as I wrote in the last chapters of Defensive Racism.  Faster than I expected, too, though things still could take another five years or so to play out to set point.  Why, I even gave calculations in my book, underpinning my very explicit predictions for the coming prices of silver and gold.  They laughed at me then, but I don't hear any laughter these days.

Could be, silver will turn around and jump up a buck or two tomorrow and we will lose the buying opportunity that seems to be shaping up at the moment.  More likely:  it will bumble along at $14 and change for a while, pushing $15, then drop a bit before ascending to $18 or so, just as I foresaw a month ago.  I'll leave that note posted on the www.ConspiracyPenPal.com main page for a bit longer. 

I'm hoping they pound silver down as much as possible, along with gold, as part of their typical dollar rescue efforts.  $12 is within their reach and $10 isn't out of the question.  If so, I'm gonna mortgage the ranch to the hilt and put it all on silver (physical silver, at that) before the wheel gets spun again.  Wheeeeeeeeeeee .... what a ride, huh?

If you think the Dow just went down 20 and dumped garbage (an old submariner phrase), take a look at the Chinese stock market today.  It dove 9%.  China is joined to us at the hip, of course.  We export a bunch of our inflation to them in exchange for their toaster ovens.  At least, until they wise up and dump the dollar.  But, they think differently and are in this for a different objective than we are - they are at war with us and, when they have siphoned off the last little bit of our industry and our world marketplace, then they will pull the plug.

Who knows what will happen tomorrow?  Nobody but those creeps from J.P. Morgan Chase and Co., another exec from which got appointed to yet another high Treasury post today.  What a coincidence!  They sure do train 'em smart over there at J.P. and ScrewAmericanInvestors, don't they?  Your job:  guess right and jump before they do. 

Today's American stock market drop came in a heartbeat because of a computer glitch, they claim, which held up transaction reporting for 30 minutes.  Yeah, right.  I'll lay long odds that they have a new program in place to give them advance warning of an in-progress collapse, so that they can do something - something like cover their own asses, for example.  When you're one of the big boys, you can do a lot of ass covering in 30 minutes, believe me.  Surely you aren't one of those naive enough to believe that this game is not massively rigged these days, are you?

This is a bull market and it will be for years and years to come.  It will outlast the dollar, believe me.  Jumping into something to bridge this economic gap - something like silver (or gold if you are sure there will be no confiscation) - is necessary from here on out.  I don't even really trust the Exchange Traded Funds these days, though I continue to be in both SLV and GLD.

Yes, I'm ok and thanks for asking.  I've been sick and busy and distracted and depressed over world affairs and the prospects for my kids.  That's why you haven't heard from me in a while.  Since I don't get paid for doing this, I can get away with taking breaks now and again, but they will have to drag me away kicking and screaming to silence me for good, rest assured. 

I'm working on lots of different bits and pieces just now, including a couple of different books.  I've a got a real screamer of a column about the Chosen just about ready (yes, they've been messing with me and my web site again - you'd think they'd connect the dots and realize what I do when kicked); one that will silence those who think I might be soft-pedaling my message in order to reach a larger audience.  I'd do that in heartbeat, of course, if the audience would come, but once they tag you as they have me, there is no redemption whatsoever.  Just ask David Irving, who finally sounds as though he might have figured that one out.  Just remember, David - long ago, I told you so.

My name is Edgar J. Steele.  Please visit my web site, www.ConspiracyPenPal.com, for other messages just like this one.

-ed

Copyright 2007, Edgar J. Steele

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