Its a battle royale

[neilgin1]

woke up, silver above 42, Europe bourses down, Asia traded miserable.

we open soft, equities that is, they start to "firm" up, and ummm, ah...its rather spooky.

i saw some dear brother, indicating that he intends on buying more equities for his 401k, and inside i shudder. BUT, then i think, this man is probably smarter than me, who am i to say, American common stock "seems" like a dead end? we trade what we feel and think and adjudge to be of value, thats the beauty of the market, or capitalism, you have three million opinions coming into the market, and thats price discovery.

its a beautiful thing.

i'm just of the notion, that i dont trust any paper investment, and make my trades accordingly. i'm of the opinion, that sooner or later, we go to the "quad Z dollar" (the weimar dollar), i'm of the opinion that the Dow trades down somewhere between 3000 to 5000, that silver's first stop up is to 125 plus, that we will see "bank holidays", in essence, we are seeing the begginings of a depression, or D2.

now, as i look back at the boards, the Dow is up 73, which is good. i dont "wish" for a depression, so that i'm "right"..thats just pure ego, and away with that. it tears my up to think that 45 mln of my countrymen are on food stamps, i got no scorn for them, people are hungry and there but for the Grace of God go i,...no scorn for them when we can flip billions and billions to Paki generals...sorry, that wasnt my point.

my point is, this all seems like a battle royale, and its hard to see thru the smoke, what the real story, what the real endgame is.

just a short antedote, last night i was half azzed bidding on a wonderful roll of 63 mint gem Franklins, just stuck a bid in at 32 times plus , and wouldnt you know it, a fellow with 59 star's comes in and picks it off, so the demand is THERE....

[Know Common Cents]

My hope is that the public starts to wake up as they see their grand investment in equities has been gutted to the tune of 15-20% or more in the past month. Many of these stockbrokers and equity traders clearly have their own agenda. Seems that they don't have the interests of their clients in mind.

How long is the general public going to be reassured that their damaged retirement savings will come back even stronger? I think there are millions of people who have become disillusioned with their former lifestyle and now realize their current spending patterns are unsustainable. Because they've waited so long and are fiscally battered, they may not even be able to afford 1 oz of gold. Silver at $43 oz may seem like a luxury.

These brokers and anti-goldbugs will soon have a taste of what millions of others are now experiencing--unemployment. Many of these jokers will find their client base has evaporated for one of many reasons. Maybe (with emphasis on "maybe") then they'll realize that there are other investments than stock of HP, B of A, Enron, etc. The general public isn't going to be so forgiving this time. They see that there's blood in the water and now realize it's theirs.

[68Camaro]

My only recent comfort is that my younger daughter has been listening to me for some years, and has become convinced in the correctness of my concerns. To the level that she has her own silver stash (a few ASEs, and a roll of halves she bought earlier this years, some silver dimes, and a couple of bullion rounds) to accompany a considerable stash of inherited gold jewelry from her grandmother which she has resisted selling. Last week she sold her mutual funds (later than I wanted, but not at the local low) and just yesterday canceled her small Merrill Lynch account (thank goodness!) and is moving it all to a discount broker on Monday when she picks up the check, where she will create a new investment strategy with it based largely on trading dips in PSLV and PHYS until the market calms down (whether next month or 2 years from now, I don't know).