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I’ve been thinking about this for quite a while and while we can’t please all of our readers, it looks like a majority of you are too busy to spend half an hour or longer reading a newsletter.  I do it, many times over, but that’s my passion, my interest and my job.  Many people tell me that they only read the opening section with my comments and Bill Holter’s.  They rarely read any of the wonderful articles that I hand pick for you.  I believe that is simply the way it is, in our fast-moving world today.  People just don’t have the time to sit in front of a computer.

I want you to know, if I insert an article in the newsletter, it is worth your time to read, unless you don’t have the time.  It comes down to that.  And please, if I call special attention to an article in MY section, see if you can make the time to read it.  It will be interesting, timely and important and what I consider to be a “must read.”

Starting today, I will cut back, and see what your feedback is.  I listen, so if you have a preference, please send Misha, our Newsletter Editor, an email at mhanson@milesfranklin.com and let us know what YOU want.

I had a long conversation with Bill Holter and Jim Cook this week and both are of the opinion that the gold and silver market is getting ready to reverse course and move back up soon.  Bill is convinced that once it happens, the rise will be dramatic and rapid.  $200 – $300 a day moves in gold will happen. Cook agrees because he talks to Ted Butler on a regular basis and Butler pounds the table with JPMorgan’s unprecedented long position and flat out states the “fundamentals” for a rapid rise in silver and gold have never been stronger. Sinclair seems to agree, but as we have all found out, it is not smart to try and put a date or timetable on the moves.  What I can say is that it is better to be early than late, and trying to time the bottom is just random luck.  Getting close to the bottom, however, is doable.

I will be very happy to see $1,400 gold in the rear view mirror but I suspect most of our readers will wait until gold tops $1,500 before they decide they have waited long enough to jump back in.  The danger is that gold could jump hundreds of dollars in a day or over a weekend, as pointed out by Holter.  That is a real possibility.  So just don’t think you can outsmart Mr. Market.  You have to ante up to be in the game and you win some and you lose some, but this is one game we all need to participate in.

Just stop thinking of gold as an investment.  It is an insurance policy.  It is an insurance policy you never want to have to call in.  I sleep well knowing I already have enough gold and silver, mostly safely tucked away with Brinks in Canada, to shepherd me through any financial black sheep event.  I never stop and ask myself, “How much did I pay for those ounces?”  I’ve got them, and now I sit and wait and see how accurate my views of the future really are.  I am 100% certain that I am right, but as for the timing, well in a market that is heavily manipulated, no one can give you the timing – except perhaps JPMorgan and they ain’t talking.  But do take note that gold has broken through its 50-day moving average and that will trigger buying by some of the technical hedge funds.  That’s the first step to getting traction for the bull market.  Check out the 60-day chart and you can see how important $1,400 is.  The “cup” is forming.  A return to $1,400 with a week or two of moving sideways should lead to an assault on $1,500.  That’s how I see it, without benefit of a crystal ball.

60 day Gold Chart