Dear Friends,

I still am plagued by the question, WHY?

You make more money from investor accounts than you ever will from large commercials in the same amount of space.

Storage is space times charges which equals revenue. After that it is all computerized billing and confirmation.

With gold climbing steadily higher while showing signs that presage a ballistic move upwards, I have to conclude that there is a problem in the gold market itself stirring below sight that the community has little or no idea about.

We have reviewed all the present and potential economic problems and know them better here than anywhere else.

I told you a long time ago that there are times when the hair stands up on the back of my neck. This is how gamblers in the final analysis know when to hold or fold them. This is what Bert Seligman and Jesse Livermore had that no one since then has had.

The story that small clients are not wanted would not require multiple Brinks trucks. Small coin and bullion deliveries are made by US mail.

What does HSBC know that is the basis for wanting to get rid of good business? It has been reported that HSBC storage internationally has been backing out of the gold business for awhile.

Why?

I smell delivery problems not just from HSBC, but maybe widespread.

I wonder if there might be a problem with authenticity. I wonder if exchanges have ever questioned the authenticity of their warehouse stock.

We live in a soulless, depraved world. Every possible scam has taken place.

Depending on whether the subject is gold or silver, reports indicate scammers are mixing a different ratio of lead/tungsten to match the density of gold or silver and putting it in the inside of the hollowed-out bar. The only way to detect it is by drilling or by gamma ray scanning.

We know coins have been adulterated for years. That is why we do not buy other than from well established coin dealers.

Regards,
Jim