Thursday, 24 April 2008

James Turk: 1980 Gold High was '$6000'! 2008-02-22

Friday 22nd February 2008 9:48 p.m.

Eagle-eyed Dan Norcini on the ever excellent claims that he has some evidence of something suspicious with the gold ETF holdings. He also posts a chart on a .pdf file to support this thesis. A flatline on holdings for 2 weeks despite new all-time price highs? Hmmmmmmmmmmmmm. Fishy as Billingsgate Fish Market - or a Japanese Sushi bar, perhaps.

In addition, he also comments with charts on the massive vertical rise in platinum lately, showing it to be rapidly approaching the CPI inflation adjusted all time high (which is still the 1980 high), whereas the similar gold chart at $940 is still way below its all time inflation adjusted high, which is over $2000 when inflated by the dodgy (understated) US CPI numbers or possibly $6000+ according to James Turk, if realistic CPI numbers such as those calculated by Walter 'John' Williams at using 1980 methodology are used. His series master inttroduction called "GOVERNMENT ECONOMIC REPORTS: THINGS YOU'VE SUSPECTED BUT WERE AFRAID TO ASK!" is nothing short of brilliant. I remember subscribing (rather cheaply) to the market commentaries of his late friend Doug Gillespie after reading one of his articles on the Prudent Bear website. They were excellent too - and Doug then worked with John Williams on a website for a while in the latter part of his life. He put me onto John Williams' work and I'm glad I heard of it.

There really is some excellent well-researched information and well-thought-out commentary out there on the Internet and no excuses for anyone to miss out on the truth.

PS. Prolific precious metals analyst and commentator James Moore of the comprehensive website is based in my original hometown. Well, please give me a job with The Bullion Desk, James!

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