Melman on Gold & Silver
January 2008 by Leonard MelmanNot being a psychiatrist, this writer is not aware of the specific term for a condition laymen refer to as “split personality.” However, whatever that term might be, it would be wholly appropriate for the news background during the past month. We were first subjected to one news story after another that suggested that our economic world was on a truly shaky foundation—and then, suddenly, we were “blessed” with a barrage of positive developments.
These days they employ the use of metal detectors and carefully scan the shattered rocks, hoping to hear that sound we detectorists love to hear.
The population of Sutro almost reached the same number this weekend as it did during its short-lived heyday. About 600 visitors explored the site where Adolf Sutro envisioned a bustling city.
During the past month, we have witnessed an orgy of buying on many of the world’s markets with Japan soaring by over 1,000 points (see Nikkei chart), Germany and France rallying strongly and here in America, the NASDAQ Index has risen to over 1,700 (see chart). However, when we look at the economic fundamentals, it appears to be a case of, as Sir Winston Churchill might have put it, “Never have so many become so excited about so little.”
• Are you paying for others' risk-taking?...
• They call it the "impalement captial of the United States"—and not to be funny!...
The Umpqua River, located in the heart of western Oregon, flows for several miles nearly alongside Interstate Highway Five.
The Journal Welcomes Chris Ralph as Associate Editor • The Bawl Mill • Global Hunter • New Study of the Formation of Nuggets—Part II • Michigan DEQ Approves Upper Peninsula Mine • Let’s Go Crevicing for Gold • Mining Restrictions Lifted in Southwest Alaska • Silver Bonanza in the Sierra Madre: The Glorious Past of Batopilas—Conclusion • 2007 Annual Photo Contest Winners • Exploring La Trinidad Mine • There’s Still Gold In Oregon’s Umpqua River • Mining Stock Quotes and Mineral & Metal Prices