In case you missed tonight this presentation concerning some points of fear from JS here it is:

Dear Friends:

It is always amazing to see how people if psychologically prodded properly will trigger a fear response regardless of the fact that their position is totally correct and will not change.

Many of the calls I have been fielding lately are from those that simply cannot enjoy life or get a good night's sleep as a result of a team of psychologists working for the PPT directing how media should package events by preventing them in the form they wish.

I take them by the hand in the context of their market position but never stand in their way.

Not only do the fundamentals still argue for higher gold prices and a lower dollar but these cause points have become more inviting as the financial situation disintegrates further.

Today's inflation report was presented to the media as a basis for an increase of interest rates in the US coming on the heels of a major program to define the oil situation as “Global Destruction of Demand” and “Rate will Decline in EU.”

So today’s PR play was for lower energy and higher US interest rates.

Currency intervention is now over but the PTT is taking advantage of the weakened commitment now existing after more than a ten cent drop in the Euro value versus the US dollar. When the long side is exhausted, the pros will take advantage and do like today based on nothing much in reality.

Not to be redundant but gold is going to $1,200 and $1,650 regardless of the massive spin 24 hours a day, seven days a week, or from soothsayers.