SEPTEMBER 12, 2011
Dear Extended Family,
I am on the road once again. I am one hour from departure to Tanzania. A great deal of rescheduling had to be made but it all worked out. My Toronto meeting with a high level delegation from Tanzania was postponed because of the national tragedy involving the sinking of a ferry.
Those that I had planned to see in Toronto will be in Dar. At the same time a group of friends are waiting for me in Geita. Communication is good so expect to hear from me.
Gold is never easy is and only going to get harder. The algorithms are fighting the cash market as margins rise. It is only natural that the cash market takes on more strength when margin is headed to cash anyway.
There is simply no fix to the mess that Western finance is in. No games of twist will influence banks to lend on rationale terms, if at all. QE3 is unavoidable in both the USA and Euroland. The managers of Western finance have lost control and kicking the can down the road takes a force ten times as strong as the one it took only one year ago.
The strength of the dollar from the recent low is but a mirror image of the weakness in the euro from the recent high. The safest of safe havens is in gold.
Recent emails to me have asked for help even in a cash position because the volatility in the gold market is ruining some CIGA’s sleep.
Survival has never been easy. Our founding Father when they signed the Declaration of Independence put not only their wealth but also their lives on the line. Freedom of any kind, even financial, requires courage.
If you are losing your grip due to the madness of the market you have two choices. You can trust Monty, Trader Dan, Eric, and Kenny who firmly believe that there is no top in gold or you can sell down to your courage level.
Once you have decided stop thinking about it and stop watching every tick. That is sure to drive you crazy. Whatever course of action you select finishes that mental debate.
I am in Africa taking care of business and friendships, but standing right beside you in spirit. There is more to that than most understand.