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It's
the Dollar, Stupid!
(Market Update 7-4)
by Edgar
J. Steele
March 13,
2007
My name is Edgar J. Steele.
Why do gold and silver usually
decline along with the stock market these days when it should work
the other way around?
Write down the following on a
sheet of paper in big block letters with a felt-tip marker and pin
it on the wall above your desk where you can see it every day:
It's the dollar, stupid!
The dollar is the key.
Watch it. Currently, they move heaven and earth to keep it
above 84.0. That keeps gas cheap, the stock market inflated
and people thinking that it is just another day. It went under
84.0 a bit yesterday. It sank further today.
They push the dollar up by
manipulating precious metals (PM) and stock index futures markets.
They couldn't wait to shore up
the dollar until Friday this week because momentum was building from
yesterday. Friday is their favored day because (1) so many
traders take 3-day weekends, (2) there is no overseas market until
Sunday (because it already is tomorrow in Japan, due to the
International Date Line) and (3) the lesson of a drop in the price
of gold and silver is best imprinted on the minds of an off-work,
Internet-surfing, hand-wringing public that must live with their PM
losses until the markets open again on Monday.
Right now, in the overseas
markets, gold and silver are being hammered down - it is easier to
do in that much smaller, thinner market. Already, the
indicator for the dollar has gone positive, as a result.
Expect more tomorrow. Expect lots more on Friday if tomorrow
doesn't do the trick and past patterns hold up. When the
dollar gets back above 84.0, they let up. Just watch and see
if the dollar doesn't move back above 84.0 on Friday if it doesn't
manage to get there tomorrow.
If we are lucky, by Friday
silver might well be bashed down near $12.00, which is a good next
buy point. Other buy points might well exist for every 50
cents they knock silver down below 12, if we are lucky enough for
that to happen. When the prices of gold and silver come back, it
will happen too fast to get on board the train, so put that thought
out of your mind. Yes, you are that obvious.
Eventually, the dollar's
floor-at-any-cost will have to drop to 83.0, then 82.0 and so on.
Gold and silver will plateau upward in lockstep with the dollar's
stair-step controlled descent. How far can it go? How
deep is the ocean? Can you say Z-E-R-O, boys and girls?
To keep the dollar Ponzi scheme afloat, they keep increasing the
money supply, which originates in debt. If for no other
reason, this fact alone guarantees our invading Iran and setting off
WWIII. The debt must be blamed on something other than the
perps running the system.
It is a juggling act where the juggler
keeps throwing another ball into the air to add to the in-progress
performance, else the audience begins to lose interest. Logic
demands that, eventually, he will start dropping balls - probably
all of them because he will try to save the first one he misses,
then the second, then....
Now that the housing market no longer is
sopping up all those excess dollars that must be created, over and
above those we give China for toaster ovens and those we expend in
the Middle East, they have to go somewhere. The stock market
will not decline - they are holding it level to keep middle America
complacent (pensions and IRAs, donchaknow) and have been doing so
for so long that it now has set a record for sideways stability.
Nor will they allow the market to pump up again like they did a few
years ago before it laid an egg (the money leaving it went into real
estate and commodities). Where will those dollars now leaving
real estate go, do you suppose? Been to the grocery store
lately?
Just yesterday, the dean of Wall Street, Richard Russell,
said: "The best measure of the dollar is that number of
dollars it requires to purchase a measure of pure wealth -- an ounce
of gold. Gold is both the unit and the messenger. The
government and the central bank fear the messenger. The reason
why they fear the messenger is obvious - they are frightened of the
message."
The message? The dollar is doomed and hyperinflation can be seen
just over the horizon. Yet another reason for war, upon which
they will blame it all.
It's the dollar, stupid.
Yes, it is just that
simple.
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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