It is important to remember what Eric King pointed out on the show a few weeks ago when interviewed by Al Lemerande, making reference to George Soros' comment that "there is no suitable alternative to the dollar." Of course, Eric was pointing out that there is no suitable paper alternative to the dollar. The only alternative is gold, by default. The amazing thing for all of us is that just about everyone else on the planet has forgotten this lesson of history. We are all in a very, very good position. It is almost as if we are coming to the end of a very, very harsh winter and everyone is buying blankets and heaters because they have forgotten about spring and then summer.

Since Dines is correct, in my view, that irony is a punishment for those who do not understand paradox, the situation is not ironic to me, and hopefully not to you. The great majority of people will miss the boat, so to speak. That is how reality is set up. It is uncomfortable to have to think this way, but it is necessary if one intends to thrive throughout an entire financial lifetime. It would be a "nicer" world if everyone just had to put money into mutual funds and then retire rich. Unfortunately, this is not, nor has it ever been the way the world works. Most people will retire into poverty and lose everything. Only a small number will retain wealth.

W.D. Gann pointed out once that when someone told him that 98% of the people who invest in stock lose money, his first thought was, "What do I need to do to be one of the 2% who make money?" Most people cannot think this way. It is too uncomfortable to think of winning when everyone else is losing, but alas, it must be so.

Think of the Bible and the story of the wide and narrow path. This is true of all things, not just following wisdom. So ask yourself, "what have I done to distinguish myself from the crowd by my behavior?" If you have not done such things, you are just lucky to be here. Luck will not win in the long run, only wisdom.

In the 30's people still understood gold, so they knew where to escape. Right now, the great mass of men have forgotten gold, so they are escaping into dollars. THIS IS WHY WE ARE GOING TO HAVE HYPERINFLATION. Remember that you read this here. It is NOT just about increasing the money supply. It is about panic and people not knowing where to go. They are going to get more and more and more dollars until they realize, "Hey, wait a minute, everybody's got more and more and more dollars and a tank of gas is $2000. Why is this happening." By that time, you and I will be having dinner in New York talking about our next move out of gold and into something else.

Keep in touch, Bull