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Nickel
Ranttm:
Lead - The Other
White Metal

by Edgar J. Steele

October 29, 2007

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My name is Edgar J. Steele.  This is a
Nickel Rant.

Do you know why ducks have flat feet?
From stamping out forest fires.  Do you know why elephants have flat
feet?  From stamping out flaming ducks.  Ok, ok ... it's old and it's
juvenile, but it was funny the first time you heard it - admit it.

Here's a new one - let's see if you think this
one is funny:  Do you know why WhirlyBen Bernanke has flat feet?  From
stamping on gold and silver.  No?  No, I didn't think it was funny,
either, until I really got to thinking about the spectacle this past Friday and
how frustrated Ben and his buddies must have been.  Now that was
funny!

WhirlyBen's feet have to be sore today.
All he got for his efforts was a new, all-time low for the dollar.  What's
more, unlike most days, his market manipulation was barely discernible.

Dancing for
Dollars

Having lost the 78 dollar the prior week, Ben
desperately was trying to salvage at least a 77 dollar this past Friday so that
people didn't have the weekend to ponder the dollar having dropped more than a
full point in uncharted water in just one week.  I thought they got started
a little later than their normal 11 am, ET, on Friday but then realized, over an
hour later, that the legitimate market activity was so huge that it simply was
masking the bankers' efforts, normally so obvious and predictable.  Wish
I could have seen the looks on their faces.  Wish I could see the looks
on their faces during next week's Fed policy meeting.  Like the last one,
will they announce the next rate decrease in advance or wait for the meeting, do
you suppose?

Call It a
Weakness

Bwaaahahahahahaha .... mmmph ... (giggle)
..... snort ..... mmmm, excuse me, but I just couldn't hold that in any
longer.  Go ahead, try it yourself.  Trust me, it will make you feel
soooo much better just to laugh out loud at the spectacle of Ben's Brigade
frantically stamping at gold and silver bars popping up from everywhere, as if
in some deranged game of Whack-a-Mole.

Having suffered so long from their
machinations while watching Goldman, Sachs and the other big boys get fat on
their foreknowledge - fat on the beatings that our life savings have
taken because of their illegal, unethical and immoral thievery - well, watching
them squirm now just warms my heart.  Call it a weakness.

I think there is a pretty good chance that
things will be happening even faster from here on out.  Timetables?
Always tough to call, but before Bush leaves office.  If he leaves
office.  If there is an office to leave in 14 months.

Here are a Few of My Least
Favorite Things

What do I mean by "things?"  WWIII,
mainly.  American martial law clampdown.  Death of the dollar.
Impoverishment and/or death for a great many Americans.  Depression
II.  Enough?  I can think up more, needs be.

Notice that, just in the past week:

1. Bush spoke
openly about WWIII.
2. Israel
sent letters to Iranian Jews, warning them to exit Iran
immediately.
3. Bush quietly has imposed historic economic
sanctions upon Iran, forcing them up against a wall and painting America
into a corner.
4. In an attempt to forestall one of the Bush/Cheney
pre-emptive attacks, reputedly, Russia has
said, "Attack Iran and you attack Russia."
5. World leaders spoke
openly about America's
defeat in Afghanistan.
6. Establishment-anointed Presidential
campaign frontrunners now virtually all have pledged their support to both
the current American effort in the Middle East and the upcoming war with
Iran.  Ron Paul, of course, has not, but then the establishment and the
media are doing everything they can to make America view him as marginal, with
little support and, just lately, anti-Semitic, the new Scarlet Letter.
7.
Oil, vital to everything in America that moves, hit new daily highs almost
every day (do you still think Iraq was about oil?), rocketing past
$90 per barrel.
8. The dollar lost
its status as the world's reserve currency and sank firmly into
uncharted waters, enroute to its demise.
9. Housing has proven to be leading the
way to the end of the world, American style.
10. Traditionally calm
financial analysts and commentators are beginning to sound just like Edgar J.
Steele.

And that's in just a single week, folks!
I can hardly wait for tomorrow.  America may be a lot of things just now,
but boring is not one of them.

The Silver Rush is
On!

Very recently, I admitted openly to not
understanding why the price of silver is lagging gold so badly.  As if in
direct reply, one of the single best articles about silver I ever have seen then
plopped into my in basket:  Why Silver is Lagging the
Gold Bull Market, by Adam Hamilton of the Zeal Investment Letter, in a
killer illustration of using technical analysis to understand market
fundamentals.  I don't mind playing straight man to a fellow so clear and
incisive.  My only faulting is with the changing scales on the vertical
axes of his charts scattered throughout his otherwise excellent
discussion.  A refined chart that demonstrated relative movements, perhaps
as percentages over time, would be far more instructive.  Nevertheless, the
point of silver lagging gold into speculative blowoffs persuasively is made.

Mr. Hamilton shows how my (accidentally perfectly-timed) call to exit gold
for silver in late 2005 was such a bonanza.  I made that call because I
foresaw gold confiscation, not because I had noticed any lagging of the price of
silver behind gold during radical bulls like the one we are riding today.

Like others, I rode silver back down from some incredible gains at $15
per ounce to some merely spectacular gains at $11-$13.  The trick would be
to call the up spike this next time around and exit silver at or near the peak
for a switch into something (platinum?) else. Of course, then there is the whole
issue of the end of the dollar, the end of America, the end of the world,
etc.; all of which militate for a switch into a variety of things at the
next peak - durable things that will hold their value and can be resold,
especially.  Things like body bags, for example.

Timing - Don't Try This at Home, Boys and
Girls

As in so many things, timing is everything and trying to time the tops and
bottoms of silver's brief, chaotic rushes is a fool's game.  As I have said
so many times, note the fact that this is a long-term bull and hold on for your
life (literally).

Incidentally, I think we are on the upswell of just such a radical silver
spike right this moment.  Get ready for $800 gold, $15 silver and $100 oil
... real soon, too.  Oh, did I mention the 75 dollar, too, soon to
be followed by the 70 dollar? Get out your tap shoes, WhirlyBen.

Where will the top be?  I dunno, but I won't even think about switching
until a lot of things change and silver probably is north of $50 per ounce,
which may happen after several more wild ups and downs for silver.

Lead - The Other White Metal

Platinum, palladium and silver are known as the precious "white metals," in
contrast to gold.  Be sure to lay in a goodly supply of the other
precious white metal, too:  lead.  We are going to need it in
good measure throughout America before this all is over.  I don't know at
whom we will be shooting - hopefully, not our own boys - but we will be
shooting (back, that is) ... of that I now am certain.

New America.  An idea whose time has come.

My name is Edgar J.
Steele.  Thanks for listening.  Please visit my web site, http://www.conspiracypenpal.com/,
for other messages just like this one.

-ed

Copyright ©2007, Edgar J. Steele

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