What a day as the battle continues and gold takes a decisive stand with the $US getting a cuff on the ear. Is a change finally in the wind with the dollar and gold? Exerted efforts were made to take gold down decisively but it had little effect. The old game is languishing as we saw the usual hallmark takedown of the PM shares yesterday signaling a takedown in gold today. It used to be good for at least $20…no more. Will options expiry next week trounce gold yet again, or are they out of ammunition? Coincidentally, we witnessed the 10 yr. rates on the rise and expectations now for them to continue with the huge treasury sales coming next week to raise more debt. Whoops! The financials got hit again today after Greenspan blurted out “nationalization” of major US banks. Yikes! The DOW and Nasdaq closed below their lows which looks very techie bad. Richard Russel thinks manipulation will be the hand of the day as the Fed crew tries to fight off the bear signal. Do they have enough left in the tank to “do it one more time” to the PMs?

The short selling of gold, silver and their share offspring was obvious as the same old, years old tactics are becoming more feeble in the face of supply/demand forces and growing public scam awareness on a world-wide basis. 90% of the shares are down, contradicting the rise in both gold and silver over the last month. Who’s kidding who that it used to? To make matters worse for the ghouls behind the veil, some of the major investors must finally be catching on to the gold and silver ETF frauds with all the credible negative publicity given them recently by the likes of Butler, Sinclair, Kranzler, Murphy, Steer and many others. Even the mainstream media and press are becoming increasingly emboldened with outpourings of positive gold articles. Maybe not only the shorts are covering. What gives? Goldbugs are dazed by it all lest it be just a wet dream. Yesterday, Steve Ellis penned a script headlined ‘Gold primed to be mania’ asset” followed by another one from The Wall St. Journal shouting: "The New Currency Trade: Gold vs. All Else". John Williams from Shadowstats.com advises hoarding Scotch and gold. “ Lord tunderin Jeesus if it ain’t so”!

“…malt does more than Milton can to justify God’s way to man_” (Fitzgerald)

And here we sit, fellow wretched, long shareholders of ECU, ravaged and raped, bludgeoned and buggered, bloodied but unbowed, steadfast, tenacious and defiant….drink in hand, sword in the other.

“But there is some satisfaction,

That is mighty sweet to take,

When you’ve reached a destination,

That you thought you couldn’t make” (unknown)

Thanks to Argoz for his current values on ECU’s latest resource report, we know where the truth lives and we know our destination:

“MI + I + Potential Resource/Market Cap = $216.92 Billion…a 217 to 1 ratio….

This is like getting all the building materials for a $217,000 house for $1,000 and all you have t do is build it.”

“Don’t let the buggers grind you down” (Sinbob)