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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

The Messiah & the P.O.W. & Gold

Commodities / Gold & Silver Jul 16, 2008 - 01:05 AM GMT

By: David_Vaughn

Commodities

Well, what's gold doing right now? There are still very few who take the present financial situation serious enough to act on it. I believe gold hit 500 in 2005 and over 700 in 2006. Today it is well above 900. Anyone care out there?

A couple of years ago I was sitting in the barber's chair and chatting away. Yes, a real barber and not a “hair stylist.” Any way, right when a break came in my chatter the barber looked at me and said “too much information!” I guess the point is sometimes we say too much when we ought to keep our mouth shut. Last week I made a sarcastic remark about presidential elect Obama. What amazed me was how many folk do not recognize sarcastic humor when they hear it. And yes I am not afraid to say that I am not a supporter of Obama, but I still enjoy talking about the man because I find his rise to power amazing. Anyway, so much for that.


“To those who worship at his shrine, though, there is nothing ordinary about him.  To them, he is the embodiment of all virtues.” “And then there's the fainting:  At speech after speech, it seems, ladies swoon merely from being in his presence.”  “There hasn't been this orgy of public fainting since Frank Sinatra or, perhaps, the Beatles.” “…the kind of once-in-a-lifetime leader that can bring our nation together and restore America 's moral leadership in the world. “Deprived of a candidate who has actually done anything or even stood for anything, they fall back on emotion-laden platitudes that place Obama on a level above that of ordinary mortals.”  “He is the racial messiah, one who, simply by being , will save America from the stain on her soul.” americanthinker.com

I have begun to hear the word “recession” more and more. If the fed raises rates chaos will reign in the US economy yet if they lower rates the dollar will be weakened further. A difficult tightrope to follow.

Bill Buckler - “The Fed Admits Defeat” "Whenever a high government official starts calling for more or increased power to regulate/interfere with a "system", one's first safe assumption is that the "system" in question is in trouble and that the official asking for increased powers knows it." “The most ludicrous aspect of all is the Fed's oft stated determination to keep "inflationary expectations" from breaking out.” “Please remember that properly and usefully defined, inflation is an increase in the total stock of money.” “Public credulity is a powerful thing. It can go on for a very long time, immune from all evidence to the contrary. It cannot, however, be maintained indefinitely. There is a point at which the official version of the situation and the REAL situation that people face every day becomes so contradictory that the credulity breaks down.” “Today, people are LIVING with rising prices, ever more rapidly rising prices.” the-privateer.com, Bill Buckler

The sub prime mess is still working its destruction, but I've noticed it is being ignored lately in the hopes that it will just go away. The nastiest part of this financial and real estates crisis is still ahead of us. The fed actually is continuing to dump massive amounts of US dollars on the economy in hopes that this will cure all the problems.

“As we contemplate the prospects for America and its institutions in the twenty-first century, it is not only particular cultural and social institutions that deserve scrutiny. What we might call the institution of American identity–of who we are as a people–also requires our attention.” “They are part of a global crisis in national identity, coefficients of the sudden collapse of self-confidence in the West–a collapse that shows itself in everything from swiftly falling birthrates in “old Europe ” to the attack on the whole idea of the sovereign nation state.” “We stand at a crossroads. The future of America hangs in the balance. If we are to preserve our identity as a nation we need to preserve the core values that defined that identity.” http://pajamasmedia.com/rogerkimball

And what else can we say about America ?

“No nation lasts forever. An external enemy may eventually overrun and subdue it; internal forces of dissolution and decadence may someday undermine it, leaving it prey to more vigorous competitors. Sooner or later it succumbs. The United States is the most powerful nation the world has ever seen. Its astonishing military might, economic productivity, and political vigor are unprecedented. But someday, as Huntington reminds us, it too will fade or perish as Athens , Rome , and other great civilizations have faded or perished. Is the end, or the beginning of the end, at hand?” http://pajamasmedia.com/rogerkimball

I am still impatiently waiting to see what happens with Iran eventually. And how about the presidential election? No one is taking bets because the outcome still is so unpredictable. Obama continues to get a lot of favorable press. I've noticed him lately even quoting Bible scripture. Very well done emotional grabbing marketing.

“Is Obama the messiah?” "Is this a messianic movement? A cult of personality? Or just good ol' fashioned politics?" “Those are the questions an Internet blog called "Is Barack Obama the Messiah?" began with one year ago.” “By simply highlighting media reports since then – including WND's account of an Obama rally in Seattle – the website has captured the wave of euphoria that has followed the Democratic senator's remarkable rise to the brink of the party's presidentia l nomination.” "Leaders don't handle tasks, they lead movements, they embody the spirit of the age. They transform. Leaders, to put it simply, are fuehrers." worldnetdaily.com

I think a lot of folks are concerned with John McCain's age. Will he really be in the best of health as he passes higher into his 70s? I ran into a local builder Thursday night here in Greenville . 8 spec homes he is waiting to sell now. He sold one a few weeks ago that put off bankruptcy and now he has another 30 days to sell another house to pay on all those construction loans. He told me he could not understand what was happening. For years he would build a house and before it was finished it was sold. He would observe several of the houses he built would flip several times. These were high end homes also. The kind every Yankee wants to purchase when migrating here to the south from Chicago and elsewhere up north. Is what we are observing considered still just a short cyclical change? Is Obama the coming messiah? You decide.

YouTube - Is Obama The Messiah ? Obama Uncovered And Exposed!!

Does John McCain's war record mean anything in terms of sacrifices made and a life given for what he believed in? I believe so.

“A few miles from the prison, the serene Truc Bach Lake was where McCain landed after his plane was shot down on the night of October 26, 1967 and he bailed out.” “McCain would spend the next 5½ years in the Hanoi Hilton until his release on March 14, 1973.” “I'm a better man for my experience, and I'm grateful for having the opportunity of serving." cnn.com

We definitely are experiencing a cyclical change, but for how long? Will there be long term consequences for these crises? So, who will be our next president and then how will the world turn? Who is the real John McCain? Take a gander at the link below.

http://www.youtube.com/watch?v=Bj6KD9Ju9QU

I am certain that we are due for some major changes in how this country is run. For the better or for the worse? When does government and its vast “improvements” really help? And where is gold headed as this change begins in earnest? Well, gold has refused to significantly move lower. Presently gold is in a holding pattern awaiting future events.

“$1000 is not the number, but instead $990 is going to be the Battle at the Bridge and we are the knight. It will delay us a tad, but not stop us. Look forward to $1200 as the most powerful magnet plus $25 to $50 being the Normandy Beach for the gold price. It is all in the dollar. Oil is a major side show.” Jim Sinclair, 7-11-2008

Is the world today experiencing real and significant changes?

“Since the credit crunch hit last fall, pension plans funded by S&P 1500 companies have lost about $280 billion in assets, according to an actuary at Mercer, a human resources consulting firm.” “On paper, the losses from last October tally $160 billion. However, according to Mercer actuary Adrian Hartshorn, the asset losses are closer to $280 billion when pension plan assets and liabilities are considered together. The losses amount to about 7% of a total $4 trillion in pension plan assets.” CNNMoney.com

So much for the end of a long week.

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By David Vaughn
Gold Letter, Inc.
David4054@charter.net

© Copyright 2008, Gold Letter Inc.

“The Worldwatch Institute, an organization that focuses on environmental, social and economic trends, says the current rate of global demand for resources is unsustainable.”  

The publisher and its affiliates, officers, directors and owner may actively trade in investments discussed in this newsletter. They may have positions in the securities recommended and may increase or decrease such positions without notice. The publisher is not a registered investment advisor. Subscribers should not view this publication as offering personalized legal, tax, accounting or investment-related advice. The news and editorial viewpoints, and other information on the investments discussed herein are obtained from sources deemed reliable, but their accuracy is not guaranteed. © Copyright 2008, Gold Letter Inc.

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