Like the rest of you I watch the paper money value of my portfolio declining day after day. It seems to be relentless. The only consolation is that the rate of decline appears to have slowed. I never thought stock prices would go this low and bitterly regret not keeping some cash back for longer but what's done is done.

However, I remain convinced that things will turn around and we have to be near the bottom so now is not the time to sell. What has undermined us is the blatant manipulation of the precious metals on the COMEX. This cannot continue indefinitely because of the opportunities for arbitrage.

I think this is a set up by Wall Street, who effectively control the US Government, to get small investors and hedge funds to sell their PM positions so the big firms can establish a position. Then the COMEX defaults, the shorts settle in paper and the sector takes off. They win again in the new Bull market with the tax payer soaking up the losses from the previous bust.

I'm sickened by the whole affair but I'm holding tight to what I've got safe in the knowledge that is worth a lot more than the stock market is currently telling me.