My Dear Extended Family,

The weight I feel of the responsibility of giving so many members of the unleveraged gold community correct direction is enormous. I might say few could possibly shoulder the incoming negative psychology on every reaction we have had in gold since $248. Both condemning me and pleading with me for comfort is like an emotional vampire.

I have worked in finance and metals for more than 50 years with a good deal of success. Before I am willing to say I wager my entire career on the prediction that gold will go to and through $3500, there are only two other people in the world who I believe absolutely know the gold market and to whom I would go. That is Kenny and Johanna who do not seek any publicity, and do not take clients.

Before I issued that missive to you last night I sent a draft to Johanna and Kenny telling my dear friends that at a certain time I intended to send it to Editor Dan for publication. Below is their response.

Sincerely,
Jim

Hey Jim,

Let me tell you something: You are dead f-ing right. That ain't no swan song. That is a statement of fact and in so doing - your service to the public in this matter, is the epitome of a very long term example of courage under fire and which has always been under constant public scrutiny.

Johanna and I stand with you on every count - and you can say so publicly, if it is of any help. You are however, much more tolerant of the limp-wristed whiners than we are. The only thing you can't give is the exact time of economic collapse, nor can I. But if it could be given, those of the weak-kneed, complaining sonofabitch population would want to know what you had done for 'em lately five minutes after they cashed in their profits.

You were the very first to enlighten and warn the public of the coming economic disasters from every aspect of brokerage, banking, and government collusion years ago even when you knew it would draw fire. You have our admiration. I can only hope that if we were confronted with the same difficult choices as you had, we would have had the balls to act as honorably as you did. Well done, old friend...

Remember that we have always set a plate for you at our table, and always will.

Our support and very best regards,
Kenny and Johanna