MIDAS - for the Martin Armstrong fans
posted on
Jun 24, 2010 06:32PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Here is a fun one. The following came in the mail yesterday addressed to Chris Powell and Bill Murphy…
How’s it going guys? It has been a long time. I hear you still do seminars. I’m still fighting. But this process is so slow, I’ll be out in March.
Gold looks good. Once it gets above $1300, finding support at that level will start the bull market spike. I’ve been writing … mainly to keep myself active and to piss off the government and bankers.
All the best
Marty
CP attempted to visit Martin Armstrong a long time ago in a New York Prison, but was denied. At one point MA was considered a guru and is often quoted by Jim Sinclair. Marty A’s story…
As a teenager, Armstrong worked at a rare stamp and coin dealership and became a millionaire at age 15. Then he opened his own store at age 21. After studying historical gold prices, he developed a cyclical theory of commodity prices and began a company, Economic Consultants of Princeton.[2] The Commodity Futures Trading Commission filed multiple complaints about this company, finding that it failed to maintain adequate records, misstated performance results, and was not properly registered.[3] During this time, Armstrong continued to collect gold and antiquities which would later become a major bone of contention with the New York State justice system.[3] As an investor, he proved that his market timing approach predicted both the high-water mark of the Nikkei in 1989, months ahead of time, and also the July 20, 1998, high in the U.S. equities market.hedge fund in partnership with Magnum Global Investments.[3]
Armstrong was a frequent contributor to academic journals and was often sought for comment on financial topics.
In 1981 Armstrong formed Princeton Economics and, in 1998, he established a
During that time he developed a financial prediction model called the "pi-cycle model" and published long term forecasts which are still monitored by the financial press. In the United Kingdom, for example, a popular financial magazine Money Week published an article on Martin Armstrong on March 27, 2007, titled "The strange case of the jailed market genius". In that article they highlighted the model had predicted a major top in financial markets for February 27, 2007, with the next major bottom being June 18, 2011.
In 1999, Japanese fraud investigators determined that Armstrong had been collecting money from Japanese investors, improperly "commingling" these funds with funds from other investors, and using the fresh money to cover losses he had incurred while trading; this is a form of Judge Armstrong was indicted in 1999, and was ordered by Judge Richard Owen to turn over a number of gold bars, computers, and antiquities that had been bought with the fund's money; the list included bronze helmets and a bust of Julius Caesar. Armstrong continues to write essays and has commented on the current economic conditions facing the United States and the world in 2007-09.