News From The Front  


Prior dewdrops of wisdom from the illustrious Sage of Wexford are retained for posterity below:


No one, including the audacious Sage, can predict with any certainty or exactitude when a bear market will end, but the price action in Gold & Silver suggests one last attempt by the likes of Morgan and Goldman to wash out the weak longs.  There are few "weak longs" left after almost 3 years of bear market, so they are really just providing excellent entry points for existing longs to add and new longs to enter.  But rest assured that the Big Boys are working out of their short positions in this pull-back to be able to pile into the long side at a moment's notice because a Panic will resume the Bull at the crack of a whip.

What the vast majority of retail bullion investors fail to grasp at this junction in the SuperBull Market in both Gold and Silver is that when price turns it will be swift and violent.  This phase of the Bullion Bull will go exponential in price pattern very quickly, and investors will find it very difficult to find entry points not well above what they could have obtained even days prior.

I envision a daily market in the weeks ahead where I cannot handle the daily call volume without going to the next trading day to fill orders, and when I do place these orders with my distributors, the backlog time is going to go to 8 weeks in a heartbeat.  When they do, my distributors will no longer take new orders because that long a lead-time makes hedging their trades prohibitively expensive in the futures market.  2008 all over again, BUT WORSE.

So don't think that a bell will be rung, and if it were rung, fat chance, that you can buy all of the gold and silver that you want at the drop of a hat.  This bullion market is squeezed on supply even as price has languished.  COMEX extinction is coming based on years and years of price activity in Gold and Silver that does not reflect true supply fundamentals.  EVERY DOG HAS HIS DAY.

Sage of Wexford, going to go fishing if it gets too crazy.


Oh, the American Investor goes strolling down the Cheap Money Road, skipping along with not a care in the world.  I hate to be a party pooper, but this summer is literally the Calm Before The Storm as the global economy retraces (?, what recovery I ask?) back into recession and eventual Depression.  The human race has never experienced such a dangerous Monetary Experiment as has been conducted in tandem by the U.S. Federal Reserve, the ECB, and the Bank of Japan.  Printing Trillions of Dollars of fresh money to bail out questionable corporate entities, banks of all varieties who reward the struggling taxpayer with huge banker bonuses, sovereign states as in Southern Europe, and insolvent governments that dominate the global map ........  HAS NEVER BEEN TRIED BEFORE ON SUCH A PERVASIVE AND MASSIVE SCALE.

Let's see:  We had a Debt Collapse in Fall of 2008, so the knuckleheads behind the wheels of the Major Ships of State, who never even successfully ran a lemonade stand, decided that MORE DEBT WAS THE ANSWER TO THE PROBLEM.

Try to get your head around another $30 to $40 Trillion of new debt around the planet since January, 2009, not a significant reduction that was required to wash out the bad debts from the world's balance sheets to set the stage for sustainable economic recovery

Try not to be in a remote part of the world this summer away from communications lines.  With the Middle East on fire partially thanks to a U.S. President who has to put on a Pampers to conduct his gutless, wavering, lip-service Foreign Policy ("foreign" to most historians, in fact!) and with Hitler-esque Putin knocking at the eastern door of Ukraine, you can expect fireworks this summer well beyond the Fourth of July we just celebrated here in Denial-Land.  THE RUBBER BAND OF WORLD CONFIDENCE AND LEVERAGE AND SPECULATION IS STRETCHED SO TIGHT THAT NEWTON'S LAW OF EQUAL AND OPPOSITE FORCES IS GOING TO CREATE ONE HECK OF AN ECONOMIC AND FINANCIAL SYSTEM REACTION BEFORE THE SNOW FALLS IN SIBERIA THIS YEAR.

As a 45-year investor myself who will be able to retire on my own cache of acorns without having to solely feed at the Government Trough to survive, I rub my grimy little hands together when I hear that the bearish sentiment around Gold and Silver are at multi-year highs as the respective metals come off of a multi-quarter base.  Richard Russell a few weeks back just gave a major buy signal for Gold.  THAT IS GOOD ENOUGH FOR ME.  When the fence sitters finally hit the ground running, the Precious Metals Bull will be so far down the Super Bull PHASE TWO Lane that their spindly little legs will give out trying to catch it.  That is, price will be much higher than today's relative bargains.

THE SAGE OF WEXFORD STILL STANDS BY HIS REVELATIONARY PREDICTIONS OF $5000 FOR GOLD AND $160 TO $200 FOR SILVER.  Is the risk-to-reward there to sell some of those smoldering stocks and bonds and go over to the dark, PHYSICAL SIDE totally outside of the quaking, quivering global financial system???!!!

The Sage of Wexford, Irreverent to the End.


Wow, part-time, poor-paying jobs are soaring.  Real unemployment is
north of 23% in the Obama Depression.  Yes, he owns the economy
now.  George Bush is 5.5 years out of the equation!

NEWS FROM THE FRONT, August 3, 2014

While we did not get a big rally in the Precious Metals this past week as the stock market woke up to the fact that the economy is actually contracting regardless what the 2nd Quarter GDP print suggested, the metals, both Gold and Silver, held their own quite well given the rout on Wall Street.  The Dow is now negative for the year while the Metals remain up.  Another massive inventory build and another significant sub-prime auto lending frenzy once again distorted the real picture of economic decline in the States.  Accomplished analysts such as John Williams of Shadow Stats fame point to the fact that final revisions to the 2nd Quarter GDP 4.0% figure ( how convenient for an incumbent Administration whose party is likely to get clobbered in the November Elections! ) will likely be reduced to 1.5% to 2.0% when real-number "truth serum" is administered to the political shills at the B.E.A., Bureau of Erroneous Assumptions and the B.L.S., Bureau of Labored Statistics.  What other Government department is filled with political shills?  ......... Internal Revenue Service to the shock and dismay of those who faithfully pay their taxes in full and when due. Welcome to the American version of Soviet Pravda propaganda known as the nightly news and financial media, not to mention grossly fudged Government statistics.

There are still plenty of Goldman and Morgan gold and silver short positions that need unwinding, so these dirt bags use every opportunity in the bullion markets to whack the price so that they can get the mega-bonuses come year-end at just about everyone else's expense.  And our illustrious Government is once again asleep at the switch, favoring the activities of the biggest campaign contributors over the man-in-the-street one more time.  BUT THE SMART MONEY IS ACCUMULATING THE PRECIOUS METALS AT THIS TIME WHEN INVESTOR SENTIMENT IS SO BEARISH ON THEM.  I think it was one of the Rothschild's who advised to invest when there was blood in the streets.

But the relative resilience of both Gold and Silver is encouraging for all of us who have grown very weary of the almost 3-year interim-bear in these two monetary metals well within a Super Bull Market. Of note, we have hardly thrown in the PM towel in favor of still-overvalued equities or Government bonds or junk bonds or soon to be deflated real estate.  Since putting money in a bank is a losing proposition also, not only from a Bank Holiday standpoint but also from a NEGATIVE RATE OF RETURN reality, it is either cash under the mattress or adding to Gold and Silver positions even if we have to put clothespins on our noses when we do so.  One has to look down a very dark road when making the buy decision in the final consolidation phase of this multi-year correction in the Precious Metals.

You almost have to think in terms of what will a world in economic and financial turmoil really look like in the not-so-distant future.  The greatest likelihood of THE COMING COLLAPSE still revolves around the bubbling cauldron of DEBT DEFAULTS which is swirling from Spain to China to Argentina in an ever-widening circle.  This CONTAGION EFFECT will prompt many investors around the globe to think twice about jumping from stocks to bonds as a "safe haven", BECAUSE DEFAULT RISK MUST NOW BE INCORPORATED IN GREATER AND GREATER AMOUNTS INTO THE PRICING OF GLOBAL BONDS.  And bond yields do not begin to compensate an investor for this real and growing risk.  As the world economy turns downward once again in Phase Two of the Greater Depression ( Obama owns it here in the States! ), governments' abilities to service the $30 to $40 Trillion of new debt added since the Fall of 2008 is gravely in question and a VIRTUAL IMPOSSIBILITY.  And printing money has now been proven to be ineffective at best and actually counterproductive and harmful at worst.

Buy straw hats in Winter.  Buy Gold and Silver now even if you feel there could be more minor downside in the near-term, because when the Collapse begins, supply will be way down SINCE THESE ARE GLOBAL ASSETS and price will be way up.  Sounds like a sales pitch, I know, but how have you done in following my advice for the last 15 years.  Many of my WCM clients will be multi-millionaires before 2020 when the United States goes technically in default on its unserviceable $130 Trillion of obligations.  This is a prediction that can only be confirmed with 20/20 hindsight. I will hopefully still be around to spike the football at that time, but I will be wearing black at the same time.

The Sage of Wexford, a still patient investor after 45 years in the game and with 2 nickels to rub together.



Still in major Bull Markets within a one-year
consolidation range that is in the process of being
completed.  Think where you would be from a
net-worth standpoint if you had bought them both
in Summer of 2004!!!!!  Stocks have returned only
91% since that time when Gold is up over 200%
and Silver is up over 190%.


NEWS FROM THE FRONT, September 2, 2014

It just warms the heart of a bullion dealer when new bullion exchanges are opening up around the world to take daily trading volume away from the heavily manipulated U.S. Comex/Nymex exchange.  Corrupt trading practices do not instill confidence in investors and they vote with their feet and trade elsewhere.  America's dominance in the world is in retreat and deservedly so in many venues.  The smack-down in Gold and Silver this morning is another example of Morgan and Goldman short positions being exited, but not before they have made their lucre at the expense of us not-so-well-heeled and connected investors.  But every dog has his day! 

China and Russia, now overt enemies of the United States on many fronts, are buying on these "manufactured" dips, and they may even be in the futures market on the sell- or short-side to temporarily provide better price points for their bullion acquisition programs to dislodge the U.S. Dollar as the world's sole reserve currency.  This process of Dollar Subjugation is well underway sportsfans, and our day in the sun of exporting our inflation to our trading partners is rapidly coming to an end.  We will see our standard of living Stateside erode further in the years ahead and experience both higher interest rates and inflation due to this evolving sea change in Dollar acceptance/preference.

If you do not think the Federal Reserve's unprecedented expansion of its balance sheet to some $4.4 Trillion will not have consequences, think again ( please see the rocket ship Money Printing graph below ).  Too much money chasing too few goods in an environment of weakening consumer demand and confidence is the classic recipe for INFLATION.  While we will continue to have outright DEFLATION IN MANY ASSETS, ESPECIALLY STUDENT, PERSONAL, CORPORATE AND GOVERNMENT DEBT, as defaults go through the roof in the months and quarters ahead, we consumers have been and increasingly will be experiencing 10% inflation as far as the eye can see.  Our Government is lying to us on virtually every front these days, so all of us need to look elsewhere for the truth on salient monthly statistics ( John Williams of ShadowStats comes to mind! ).  Now corporate Healthcare Plans are destined for extinction under ObamaCare!!!!!!

ObamaCare's higher premium costs, plus war in the oilfields of the Middle East and Ukraine, will guarantee economic decline in 2014/15, not to mention the constraining effects of higher taxes at all levels due both to the mismanagement of public resources for some 30 to 40 years now AND revenue shortfalls as Obama's Depression, Phase II, unfolds before us.  Europe is plainly slipping back into recession, but my argument all along has been that we never came out of the Greater Depression to begin with due to grossly understated GDP Deflators since 2007.

Social Security for those of us who have done without new shiny things each and every year for decades will eventually be withheld since "we have too much and do not deserve our own payroll taxes back".  ( Means testing will include investment assets, but good luck with that one, Uncle Sam, since you seem to be incompetent in just about everything but Defense.  Pray to God that ISIS does not attack the Homeland before O'Bummer has a Plan! ) The Feds already tax up to 85% of your Social Security benefits if you make a whopping $34,000 and above in earned income in a given year:  DOUBLE TAXATION WITHOUT REPRESENTATION.  A tax on a tax ........ how clever, but we haven't seen anything yet with these unlawful, self-serving, deceitful Washingtonians!  Americans will eventually take to the streets, and/or escrow their taxes in the Bank of Singapore until real change comes to this country FOR THEIR BENEFIT AND NOT THAT OF THE DO-NOTHINGS AND LAW BREAKERS.

Enough ranting.  Stay the course and accumulate the Precious Metals especially on these "engineered" declines; our day in the sun is just around the next bend.  THE FALL IS COMING IN THE FALL!  Sell stocks, bonds, and real estate with both hands, because their day in the sun is long gone, and the price for waiting to act will be very painful.  Weimar Germany here we come.  Just because the Velocity of Money has been declining since 2000 does not mean that we will not experience hyper-inflation in critical segments of the American Economy like Food, Utilities, Healthcare, AND TAXES/FEES.

Remember the truism:  "It is always darkest before the dawn".  There is no shortage of Governmental entities that don't want Americans piling into Gold and Silver and out of financial instruments denominated in Dollars, and they provide the zero-cost short-term financing for the smack-downs you have been seeing over the last year in the Precious Metals.  But fundamentals always eventually overcome the manipulators, and we are increasingly in a global trading arena for both Gold and Silver, outside of the United States.

The fundamentals for Gold and Silver HAVE NEVER BEEN BETTER. Our time is near in a world sinking into financial and economic decay by the day and at risk of a Black Swan panic at any moment.




   NEWS FROM THE FRONT, October 6, 2014

"Buy when there is blood in the streets, even if it is your own".  So said the Rothschild's so many moons ago, and we all know how well they did in the global investment arena, becoming one of the richest families in world history.  I am convinced, along with other bullion analysts who are probably smarter than I, that the recent 3-week drubbing in the precious metals has been an orchestrated effort to get the prices down:  1.) To discourage American investors from exiting Bonds and Stocks and Dollars and causing a long-overdue meltdown in those "investments", and 2.) A campaign by countries like China to be able to move more physical metal to the East (Shanghai Gold Exchange!) at prices that are just temporarily depressed in order to accelerate the partial convertibility of the Yuan to both Gold and Silver in the not-too-distant future.  China is getting ready to employ a nuclear financial weapon against the United States, just as we have done so against their increasingly tight ally, RUSSIA.

I have been a successful investor for some 45 years now, and I know an unnatural market when I see one.  Granted, the timing of this capitulation move, shaking Gold and Silver out of WEAK HANDS into hands that will retain the PM's for decades to come, is telling for THE TERMINATION PHASE OF THE BEAR MARKET THAT STARTED IN AUGUST, 2011.  Now that we are over 3 years plus of this NORMAL CORRECTIVE PHASE after the post-2000 supercharged bull move in Gold and Silver, American investor sentiment regarding Gold and Silver is touted as being extremely and historically weak.  The problem I have with this sentiment reading is that monthly sales of American Eagle Gold and Silver coins from the U.S. Mint are at very solid and high levels.  So some Americans, still a paltry group of less than 3% of the investing public, are saying one thing and doing quite another.  Furthermore, Big Money Trades (BMT's) are coming into WCM over the last 10 days.  Smart money knows when to pick up more of an asset:  WHEN JUST ABOUT EVERYONE ELSE HAS PROCLAIMED THE ASSET AS DEAD MONEY.

Which of a flock of Black Swans will tip the rickety Apple Cart over in the global economy and financial system:  THE SAGE OF WEXFORD IS BETTING ON A MAJOR DEFAULT TO OCCUR IN THE NEXT FEW WEEKS.  Private-sector China (oxymoron??) is the best candidate, but please don't forget the PIIGS in Europe.  The Central Banksters know that Gold and Silver will soar upon just one more "incremental" nail in the Confidence of the Masses, decimated already by a laundry list of current crises, pick your favorite!  Would not be surprised if the New York Fed was not financing the recent blitzkrieg of short trades with perpetual overnight money to Morgan & Chase, since Alan Greenspan noted in 1998 that they did everything possible to keep Gold suppressed during the LTCM debacle that year.  (Although few dewdrops of wisdom have ever left his lips, Alan Greenspan last week stated that China was wise to convert more and more of its Currency Reserves, esp. Dollars, into Gold to move the Yuan closer to full convertibility as a Regional Reserve Currency!  WOW.  Tell us the obvious, Alan.  No wonder he was knighted by the Queen.)
AND DON'T BELIEVE ALL OF THIS BUNK ABOUT THE DOLLAR GOING TO THE MOON AND HURTING THE PROSPECTS FOR GOLD AND SILVER.  First, 88 on this Yen/Euro dominated index offers formidable resistance.  Second, look at the balance sheet of the United States and tell me you feel safe with its Medium of Exchange.  THEY CALL THIS DOLLAR STRENGTH WHEN THE DOLLAR HAS BEEN IN ITS OWN BEAR MARKET SINCE 2002 WHEN GOLD ENTERED ITS NEW SUPER BULL PHASE!!!  Always look at the big picture over the LONG HAUL as in the hardly bullish U.S. Dollar Index chart below.  AND DEFINITELY BUY BASED ON STRENGTHENING FUNDAMENTALS FIRST, TECHNICAL'S ARE DOWN THE LIST.

Stay the course by holding and buying Gold and Silver.  Sell stocks, bonds, real estate, the dog, the cat, the canary, the mistress (yeah, Bill, the mistress!) ...... get liquid and start buying Gold and Silver with both hands.  May seem counterintuitive after the recent gut-wrenching slide, but you will be glad you did when the wheels fall off the Global Apple Cart.  History is on our side.  PHYSICAL GOLD AND SILVER DEMAND IS DEFINITELY ON OUR SIDE.  THE FUNDAMENTALS ARE WAY ON OUR SIDE.

The Sage of Wexford, locked and loaded.




NEWS FROM THE FRONT, November 1, 2014

I have never seen markets act so irrationally.  But I have also never seen Zero Interest Rate Money and money printing to the tune of $3.7 Trillion by the U.S. Federal Reserve.  The fundamentals for the U.S. stock market are deteriorating due to the cessation of Q.E. by the Fed ( who is now scared beyond Halloween and will raise rates sooner than the crowd expects ), all of our trading partners sliding into recession, and an economy that still can't get off the matt and likely never has since 2007.  If you believe the 3.5% GDP number for the Third Quarter, I have a bridge to sell you.  Go to David Stockman's erudite website article:

This superb series of Stockman observations confirms an economy that has no income growth for the consumer class, high labor-force non-participation, higher taxes & regulations, surging healthcare premiums under ObamaCare Phase II, wobbling consumer confidence, and no confidence in Government; and what U.S. growth is present is in financial asset prices, not production of goods and services.  Mr. Stockman is another lone voice in the wilderness.

Then the liquidity-drunk Japanese pile more debt onto their severely compromised balance sheet, and U.S. stocks set new records on Friday??!!!  With a DEBT to GDP ratio of 230% and growing exponentially while their economy, with a new retail tax burden, stagnating at best.  JAPAN IS SUCH AN IMPORTANT EXPORT MARKET FOR U.S. GOODS THAT THEIR FLOODING JAPAN WITH NEWLY PRINTED YEN IS GOING TO BOOST U.S. FINAL SALES.  Me thinks not.  Another fine example of Greenspan's famous IRRATIONAL EXUBERANCE in a financial market that lives on excess liquidity and ZERO cheap money AND WILL DIE BY THE REVERSALS OF SAME.  Retail investors had better vote with the feet on this one.

The smack-downs in Gold and Silver have nothing to do with fundamentals, but are just another example of the privileged commodities traders on the Comex being able to enter massive short positions in quantities 100's of times over the available bullion necessary to cover these Naked Shorts with physical metals.  I refer my loyal readers to Adam Hamilton's excellent article on the activities of the hedge funds in particular of late, a.k.a., SPECULATORS, in the following missive:

and how physical demand remains very robust, even in the face of massive speculative short selling.  Friday could mark a turning point in this frustrating crapola due to the expiration dates on many of these futures contracts, but we will see.  Interesting that the Silver ETF, SLV, continues to see physical Silver accumulation, even as the Gold ETF, GLD, sees some divestment. China, Russia, India, and Singapore are buying physical gold by the truckload for Currency Reserves, so demand has not waned as planned, but surged during this temporary attempt by Officialdom to shake the rest of us Hard Money Stalwarts out of the tree.  Also, this futures smack-down of bullion prices is another ghoulish attempt to keep the masses headed toward a very unbecoming financial grave ........ one soon to sprout in ghostly fashion in the Stock and Bond Markets.  Finer minds than mine are sure of this eventuality.

But one only has to go to the monthly sales data from the U.S. Mint on American Eagle Gold and Silver Bullion coins to observe that the free market loving people such as US continue to buy physical bullion with both hands and feet ........ very reassuring:

So hold onto your hats and gloves, AND BUY THE DEATH-DEFYING DIPS.  What has changed to make either Gold and/or Silver less appealing than it was this time last week or last year??  Nothing.  In fact, the fundamentals have improved with more debt sloshing around in the world created out of thin air by central banks and traditional asset markets teetering on the edge of the precipice with the landing of even a min-Black Swan.

One last observation before heading out to the hiking trails:  Sir Alan Greenspan, Mr. Bubbles, now says one should sell stocks, the Fed balance sheet is a tinder box, and to buy Gold.  Yikes.  He will now be remembered as the Fed Chair who finally got something right!  And Richard Russell also says to sell stocks and bonds, and buy physical Gold and Silver.  The latter sage has one of the longest records in American investment history of getting it right, time after time, market after market.  The former sage, Sir Alan, will eventually be one of the strongest proponents of a gold-backed Dollar; hence, like Goldman on entering a trade, Sir Greenspan gives the Green Light to higher Gold prices.  This sage, MOI of Wexford origin, has gotten it right on the long-term trend of Gold & Silver starting in 1999, and have been a little wrong on intermediate swiggles ...... but will retire with a smile and not a Walmart Greeter's apron or running to my mailbox for that Social Security check every month.

IT IS ALWAYS DARKEST BEFORE THE DAWN.  And a financial market on steroids is eventually, sooner than later, going to give its gleeful participants and last-nickel-grabbers ...... one heck of a net-worth hangover.  We live in very dangerous times.  Period.  Adjust your investing accordingly.


NEWS FROM THE FRONT, December 16, 2014

As an American citizen for over 65 years now, I am ashamed AND DISGUSTED that my country has become corrupt at virtually every level of activity.  To say that we have free markets and are an example for the world to follow is hypocrisy at its worst and self-delusion at its best.  The price activity in the Precious Metals over the last several weeks is a prime case of those who influence the levers of power in this country via the campaign contribution box are able to whip both Gold and Silver back and forth without any regard to fundamental demand or the standing rules of operation at this soon-to-be-diminished American trading venue, the Comex/Nymex.

Sales of American Eagle Silver Coins are about to set another all-time record in 2014, and yet Silver is not trading upwards of $35 per ounce as that level of demand would suggest.  Eventually, and I hope I am still kicking to see this, the retail investor will have his or her day in court with Morgan and Goldman to get some of these Comex traders into orange jumpsuits, and the derivatives implosion just around the corner will get some of the executives at these companies into like attire.  At some point, We The People will discover whether the out-of-control Federal Reserve & U.S. Treasury were supplying zero-cost money and cover to these manipulators, but one can surmise that suppression of historic alternatives to fiat currency backed by NOTHING, Gold and Silver the rising stars, is an age-old strategy that desperate countries employ to keep their Ponzi Scheme Currency Regime in play.  Cream always rises to the top of the bottle.

STAY THE COURSE is my best advise today and in the months and years ahead.  Convert financial assets and real estate to tangible assets at every opportunity, REGARDLESS OF PRICE AND PRICE TREND.  When this puppy turns in the bullion market, you will need a seatbelt to keep from falling backward out of your chair.  Multiple dollars moves in Silver and $100 plus moves in Gold will become commonplace.  You can take this prediction to the bank ..... if it is still open.  The record purchases of American Eagle coins is just one indicator that the SMART MONEY, YOU AND I, see the writing on the wall for eventual American default on its $130 Trillion and growing in UNFUNDED LIABILITIES.  With the continued hollowing out of the American Middle-Class under the Obama Dictatorship, a Consumer Driven Economy ( CDE ) cannot sustain real economic growth when disposal incomes and job prospects are going in reverse.  Us Silver Headed Sages of the Baby Boomer Generation are also beyond our greatest consumption years, we are such misers!, so don't look to us to keep the party going for the U.S. of A.

Russia and China, to name just two major central banks with half a brain, are accumulating both Gold and Silver as Morgan-Goldman suppress the price TEMPORARILY to create probably the last rock-bottom buying opportunity for this century.  Have to wonder if these two lawless entities have trading contracts in Russian and Chinese.  The window of opportunity for buyers is actually that good, and these American Power Replacements see the Demise of the Dollar AND American Influence as inevitable consequences of a Roman-style country following the path of Ancient Rome with bread and circuses for all.  Heck, you don't even have to have come here legally to have access to the Public Trough!!!!  As a guy who has worked since he was 14, it warms the cockles of my heart to know that I am supporting illegals who have such disregard for our laws that one has to wonder what other laws ( counterfeit documents plus tax compliance?? ) they are breaking or will break.

Very bad times are a'coming my fellow Americans.  Buy as much Gold and Silver as you can afford or feel comfortable doing, because Dollar Reserve Status is going bye-bye as soon as competing Currency Baskets can get enough transaction volumes to put the Greenback in its proper place.  Oh, and did I mention that we will see Hyper-Inflation before this Depression is through turning most American investors into Walmart Greeters.  DIG YOUR FINANCIAL FOXHOLE WITH GOLDEN AND SILVERY SHOVELS!!!!!!!!!!!!!!!!!!

Merry Christmas and Happy New Year.  I am a Christian and will defend my fellow Christians by any means available anywhere in the world.  Hear that Barack.  When Christian children are put to the knife by craven barbarians it is time to unleash the Knights in Kevlar with Night-Vision Goggles.


NEWS FROM THE FRONT, January 14, 2015

Well, Pilgrim, amazing what a few days into a new year can do for both Gold and Silver prices! Silver is up almost 7% since the December 31st close. Here are some of the very significant tailwinds that are driving prices higher:

1. Commodity prices are collapsing due to a collapsing Global Economy.  They go hand in hand. Derivative positions in oil-related products especially are going to cause new bank and company failures anew.  Gold and Silver are not in over-abundance and have seldom been in world history, hence, their prices per ounce.  They are more Monetary Metals than commodities.  Demand is growing by the day, especially now amongst Americans who are waking up to a more dangerous world every day.  Demand from Russian, China, & India continues at robust levels, of note at the Central Bank level as well as retail consumer and institutional.

2. Manipulators such as JP Morgan are distracted by legal payments over prior misdeeds, and their internal legal department may be advising JPM bullion traders to cool their heels at their decade's long manipulative trading in Gold and Silver.  The hammer always speaks louder than the olive branch.  Politically, more scrutiny of these bailed-out banksters will be insisted upon by a populace/voting public that has yet to recover from bank misdeeds going back to the 2002 to 2008 period.

3. Stocks are exhibiting all of the classic signs of volume distribution into weak hands and a major topping pattern foreshadowing the gruesome end to the ZIRP Money Bull Market of 2009.  Looks like 2000 on the S&P 500 will not hold, and much lower prices are in store for one of the most expensive stock markets in history.  Stock buybacks to keep stocks going up have added more debt than ever to the balance sheet of Corporate America, a fact conveniently ignored by the Stock Market Cheerleaders!  The idle cash always touted about is already spoken for, Pilgrim!!!

4. The U.S. Dollar is also over-extended as the prettiest Witch amongst a Gaggle of Witches in the foreign currency realm.  A country that has no grasp on its own public spending with $130 Trillion of Unfunded Liabilities, that suffers from political gridlock and corruption at the highest levels, that has massive unpayable debt at the Federal, State, Corporate, and Private levels, and whose economy will not stay positive even with subprime auto loans going to chipmunks and squirrels WILL NOT ESCAPE THE OBAMA DEPRESSION, PHASE II.  Gold and Silver as the ultimate currencies will appreciate against the Dollar in the weeks and months and years ahead regardless of the Greenback's alleged "advantages against other very compromised national entities".  The Dollar Index can do what it may; the real story is seen in the Dollar price of Gold and Silver.

5.  Cyber attacks by rouge nations and Islamic Terrorists (hey, Barack, just sound out the words by syllable, Harvard Man!) are destined to disrupt the U.S. power grid, transportation networks, payment systems, and consumer plus corporate banking functions in the not-so-distant future.  Having barter, highly liquid assets such as 1 ounce Gold coins and Silver coins & bars will serve many Americans well in the dangerous world we live in ....... brought on partially by Weak or Nonexistent American Leadership.  That last word is an oxymoron for the Liar in Chief.

Stay the course.  And if you think bonds of any duration or maturity are a safe place to invest, I have some very aged Greek or Venezuelan bonds I would like to sell you.  Sovereign Debt Defaults are just around the corner.  MAKE THAT REASON NUMBER SIX.


NEWS FROM THE FRONT, February 1, 2015

While the S&P 500 was on course to have a negative January performance, down 1.3% in actuality for January, 2015, the powers that be as embodied in the Fed, Goldman, and Morgan could not stomach the thought of Gold being up 8% when hitting $1300 again and Silver being up over 14% when hitting $18.25.  So when the Yelling Fed conveniently announced, tongue in cheek, of course, that the Money Changers in the Temple were still on course to raise interest rates around mid-2015, the rationale for smacking the Precious Metals was provided for the blinders-on sheeple.

A smidget of a rate of interest of 1/4 to 1/2% was going to produce competition for two true monetary metals that had returned over 11% per annum via Gold over the last 14 years AND over 9% per annum via Silver over the same lengthy period!!  Not every year, naturally, but on a compound rate of return basis, the mathematical method that tells the story of what you really have in the end.  Not to mention, there are plenty of analyses on the Web showing that both metals have done quite well in rising interest rate environments.  So much for smack-down rationale!! 

Gold still managed a 5% plus gain for the first month of the year, while Silver still provided a 6% gain despite the illegal manipulations by vested interests trying desperately to save the Wealth Effect with stocks continuing to go north on declining economic fundamentals.  Now that the massaged GDP number for Fourth Quarter, 2014 has been revised down to a more earthly 2.6% ( I say actually negative along with other lone voices in the wilderness! ), the stock market has hit somewhat of a major air pocket that knocks another leg of the stool out from under it. 

A declining U.S. and global economy is not good for already elevated stock prices, not to mention that Ms. Yellen is threatening to take away the punchbowl of ZIRP that has just managed to get the party guests real drunk, but not really helped their overall economic well-being at all.  And that supposedly "strong" Dollar ain't helping U.S. exporters one bit when selling into the Euro Pit of Economic Morass or the Sinking Tigers in Southeast Asia or the China Doll that has more fissures in its porcelain than a Chow dog has wrinkles.  The bloom is off the rose virtually everywhere in the world, stockholders.  Time to head for the exits.

This year will prove to be very volatile in all facets and in all markets, but keep accumulating both Gold and Silver at every opportunity.  Think about transferring via a Custodian to Custodian transfer a hefty portion of a retirement account currently in stocks/bonds to a Precious Metals IRA.  I personally have been using Equity Institutional, formerly Sterling Trust, since 1997 when I first began buying gold.  Fees are very reasonable: I just paid $250 for each of my IRA accounts there for IRA Maintenance & Storage/Insurance Fees for 2015.  Try spending so little for a taxable bullion account well over $100,000 in value, which can cost 1.5% per annum for Storage & Insurance alone.

Being in the business, I see backlogs developing again in both gold and silver products, which is a sure sign of strong and rising demand for precious metals.  The dollar loss in Silver on a single day will become more commonplace in daily Ag and Au trading, but most of the movement will be to the UPSIDE.  That is my prediction for 2015:  VERY VOLATILE YEAR, BUT GOLD AND SILVER WILL AGAIN TAKE THEIR PLACES AT THE HEAD OF THE APPRECIATION CLASS.

Sage of Wexford, going where most commentators dare not go.





NEWS FROM THE FRONT, March 8, 2015

Monday, March 9th price action in the Precious Metals will be somewhat telling as to whether we have put in an interim bottom in the Goldman/ Morgan price slams to both Gold and Silver of late, but I have some time available for expounding on this sunny March Sunday, so I will do so.  Of note, the daily price movements in Gold, and especially Silver, over the last 2 weeks have been unusual in that some of the price swings/ ranges have been relatively narrow with daily closes very close to the prior day, and noticeable recoveries even after multiple percentage point whacks to back above mid-range on the daily range.  Could it be that Big Brother via the D.O.J. and C.F.T.C. are finally watching what is going on in the PM trading pits, and the manipulators don't want to be too obvious as to what they are doing?  Stranger things have happened.

Leave it to regulators to sniff the political winds and realize that the American public is still piping-hot mad at the U.S. Government bailing out the greedy, dishonest, self-serving, over-paid, and brazen banksters ( DID I LEAVE ANY APPROPRIATE ADJECTIVES OUT?!! ) while they get paid nothing on their bank deposits and, as taxpayers, are still owed money on the bail-out funds that were supposedly "lent" to these failed institutions.  Any talk of a future "bail-in" of creditors in the upcoming Bernanke/Yellen/Obama B.Y.O.Financial Collapse (yes, we will give credit where credit is due!) should realize that there will be such a run on AR-15 ammunition from Mexico and Russia that the Feds will truly see what a hornets' nest looks and feels like when they attempt to define "depositors" as "creditors".

Stock and bond investors owning a piece of the failed U.S. banking system deserve to lose their shirts in this epic event coming their way, but American depositors will not go quietly into the night when their pockets are picked for the TWENTIETH TIME IN 7 YEARS.  F.D.I.C. insurance is technically insolvent so don't count on that "White Knight" to come riding to the rescue with cash in hand.  How about some 5-year to 10-year Non-Marketable Treasuries paying less than 2% that must be held to maturity instead of your bank deposit cash?!  Yummy.  Can't wait.  I will take a German Wheelbarrow full!!

Regardless of the Purveyors' of Financial Toxic Waste from the Fed/ Treasury favored financial markets of stocks and bonds attempts to discourage physical accumulation of Gold and Silver stateside by making Year-To-Date gains either negative or barely positive, respectively, overall U.S. bullion demand stays at very healthy levels.  One cannot just use U.S. Mint sales of Gold and Silver Eagles as the true barometer of overall demand, because PM buyers are smart enough to realize that they pay the highest premiums over melt of any bullion product for the privilege of owning U.S. Mint products.  Kind of defeats the purpose of buying on the cheap after coordinated New York Fed-financed bullion banks' smack-downs by paying up for a U.S. Government bullion product.  No lack of equal- to greater-quality bullion products available.

And more telling and despite the activities that masquerade for price discovery on the Comex, China, India, and Russia are accumulating both Gold and Silver to allow their currencies to become part of a regional reserve currency basket when the U.S. Dollar takes its rightful place in the trash-heap of failed reserve currencies.  Oh, the Greenback is catching a bid right this moment, but it is only the least ugly Witch in a Gaggle of Witches known as the World's Failed Fiat Currencies.  One can't print endless sums of an item and expect it to retain value, much less purchasing power.  Without able & honest leadership, devoid of any fiscal discipline, and waking up to a declining U.S. economy that is late to the Global Recession of 2015, the United States is not destined to retain Most Favored Investment Arena for long.  Against other failed currencies, a temporary shooting star.  Against historic stores of value which are true money, Gold & Silver, an eventual and blatant failure to protect its holders.

The fissures in the Global Economic and Financial System are widening by the day.  Austrian Bad Bank needs an $8 Billion Bail-In-Out.  A Greek Tragedy just kicked down the road for a few more months, nothing solved and no path to a solution for Greek Insolvency.  The much-ballyhooed Chinese economic engine has stalled, and Chinese bad debts are in full bloom.  Long-term interest rates are headed North by market fiat, not by Federal Reserve tinkering.  A U.S. Employment Report where the vast majority of "new jobs" are poorly paying ones, and more and more Americans drop out of the Labor Force in desperation.  One can almost sense a developing storm that will be devastating to the vast majority of Americans and the global population at large.

Buy both Gold and Silver while the prices are artificially suppressed and supply is still available AT ANY COST.  Eventually, Stateside bullion will be as hard to find as a Capable Fed Chairperson or an Honest Politician.  Seems unbelievable, but who would have thought the world's "leaders" & bureaucrats would have been so stupid as to add $57 Trillion OF NEW DEBT to The Global Balance Sheet after the Debt Collapse of 2008!!!  Expect the Unexpected, and invest accordingly.

Sage of Wexford, paying for one-way ticket to Mars, what's to come back to??!!!





NEWS FROM THE FRONT, April 9, 2015

It is somewhat maddening to hear the spinmeisters out of Washington and Wall Street trying to put lipstick on our Pig of an Economy, but the trend for U.S. growth is now clearly down, down, down.  I get no joy from this developing fact, since your money and my money was wantonly spent in the $Trillions over the last 6 years by Uncle Sam and Grandpa FED to attempt to produce the much-ballyhooed escape velocity that has turned into Re-Entry Velocity.  Bureaucrats have never proven to be smarter than the free workings of a capitalistic  market, so we should really not be surprised at the utter wasting of a dwindling American resource:  SOLVENCY.

I hereby knight this blossoming DEPRESSION the Obama Depression, Phase II, because it is about time this skills-challenged head of state is held responsible for something.  BUT MAKE NO MISTAKE, THIS IS A STRUCTURAL DEPRESSION THAT INITIALLY BEGAN IN 2007 THAT WILL TAKE SEVERAL DECADES TO EXIT.  Fundamentally changing America he certainly has, and it will take 20 years alone just to recover from this Harvard man's policies and actions.  Furthermore, and even more directly to blame as political hacks at the Central Bank level, the Federal Reserve can also take a big bow, I just wanted to keep the name of the economic disaster we are well within short and not-so-sweet.  You know ..... Name Recognition since Bush was blamed for everything including measles coming across our Southern Border.

The Dollar's recent spurt as a Lesser-Evil Currency has run into the reality of a softening U.S. economy that may not see an interest rate increase by the recalcitrant/ groin-holding Fed until the Fall, but it will happen because even real-world-challenged academics can see the stock and bond and housing bubbles they have blow for the third time this millennium.  Time to tap the brakes as the cliff is coming up rapidly.  Just think how much stronger the U.S. economy would be today if we all had enjoyed interest income at 5% minimum over the last 6 years??!!!Duh, big time.

The big banks should have been allowed to fail back in 2008, since there are plenty of regional/local banks solvent and capable of taking over their deposits net of washed out liabilities.  But the U.S. economy has become a political football that the apparatchiks in Washington just can't leave alone for a minute, and we the citizens have suffered mightily because of their utter ineptitude.

Do not be concerned if the Dollar finds its feet again, because there are many examples of strong Dollar periods in U.S. history coinciding with strong Gold and Silver prices.  The backing and filling that we have seen over the last several months in the bullion markets is very indicative of a market where sellers are being washed out over time, and buyers are coming in on any price declines.  Overall sentiment in the gold and silver markets has hardly ever been this negative.  New bull markets are seldom formed with a "V" type bottom, but usually from a consolidation pattern that wrings out the last sellers who of course have sold toward the bottom in price.  Bank of England in 1998 comes to mind.

Large scale gold and silver purchases have been made at WCM to date in 2015, so I can attest to the fact that the "smart money" is re-entering this classic/time-tested hedge against utter collapse of the global financial system as we currently know it.  THAT HAS BEEN MY LONG-TERM FORECAST, but the timing is more imminent today than it even was in 2005.  I forget the exact figure, but the lever pullers of the world have added some $57 Trillion in new debt since the Fall of 2008, so this collapse is going to be of record proportions, scope, and duration. 

Gold and Silver will shine in this catastrophic environment because the citizens of the world will have totally lost faith in Governments' abilities and fiat currencies to turn the tide this time around. 
Confidence has been waning for some time now, but the Obama Depression, Act II, will convince the last believers that Government or Central Bank intervention will not prove effective or lasting to avoid economic and financial system disaster.  Sounds harsh, but that is what we are faced with at this junction in time.

The East continues to advance as the price setting region for both Gold and Silver going forward.  China has been a leader in this regard, but I expect Russia and India to continue to accumulate gold and silver reserves to eventually break away from Western & Dollar domination on the global financial and international trade stages.  Sanctions against Russia, which I feel are totally justified based on their annexations over the years, not just in Crimea/Ukraine but in Georgia as well, have accelerated this process for the Soviet Union of 2015.  I fully expect a blitzkrieg style invasion of the Baltic States before the Melba Toast in Chief leaves office; NASA super space diapers on route to the White House for this event.  The Soviets as an enemy of the West are back in full force under Dictator Putin.  Stalin would be proud of him.

Politics aside, we live in a very dangerous world and things are not getting safer under current leadership around the globe.  Invest as if you are in a WWI trench with mustard gas being hurled your way.  Things are about to get very nasty.  Got Gold?  Got Silver?

The Sage of Wexford, following the Yellow Brick Road to survival.


The persistence of negative monthly changes AND the dip of the Annual
Change into negative territory virtually guarantee Recession at this
point.  Putting lipstick on a pig?

This key element to the "American Dream" is where the American Consumer's
Balance Sheet is:  DEPRESSED FINANCIALLY & Incapable of even taking
on cheap debt; one still has to pay-off principal, Yellen.

The ability of Americans to afford a home, even if prices stagnant, is not improving.

Whoops, retail investors seem to be voting with their feet:
And that is a VOTE OF NO CONFIDENCE in current stock market prices!





The information and opinions contained within WCM's "News From The Front" have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness. Neither Wexford Capital Management, David W. Young or the Company's agents or assigns accepts any liability whatsoever for any loss arising from the use of this free newsletter or its contents. All periodic "ezine" articles posted on are strictly for informational purposes only. No statement or expression of any opinions contained within this electronic newsletter constitutes an offer to buy or sell any financial securities or surrogates mentioned herein. Readers are encouraged to conduct their own research and to perform extensive due diligence and/or obtain professional financial advice before making any investment decision, especially in the exceptionally volatile asset markets of today.  WCM's Principal, David W. Young withdrew the Company's Registered Investment Advisor status with the S.E.C. and the Virginia Division of  Securities in May of 2005 and no longer offers financial-asset managed accounts receiving continuous supervision of assets.  WCM's principal, David W. Young, was a Registered Investment Advisor in good standing from October, 1985 to May, 2005.  Furthermore, the company does not engage in any fee-based or compensatory provision of financial or investment advice.  The brokering of tangible assets sales via U.S. Rare Coins, Precious Metals Bullion, and Fancy Colored Diamonds is the sole business of Wexford Capital Management and the company cannot be construed under any measure as being in the "financial newsletter business".


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