Dear CIGAs,

Today's weakness in gold and strength in the dollar are products of expectations that the Fed would drop rates by Emergency Action today. Talking heads on CNBC fed that rumor. When it did not occur as predicted today the suffering bearish gold interest took that non-event as a tool to hammer gold down and run weak shorts out of the dollar.

Absolutely nothing has change. There isn't a snowball's chance in hell that housing will improve, the derivative meltdown will stop, the dollar will do anything but short cover or the Fed will fail to drop rates.

Gold will again in the near future cross $887.50 and $900 on its way to $1050 and then $1650.

If you have followed my instructions to eliminate all margin, given here many-many times, you have no problems and therefore no need to be concerned.

If you are on margin in anything gold, shame.

Please check back here at www.jsmineset.com and I will keep you in formed.

Next post will be no later than 1:30 PM EDT.

Respectfully,
Jim