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Editorial See other Editorial Articles Title: Nov 7 Market Note - The MMUSDIP is Never Wrong For those who check in here regularly to see if I have posted anything about the financial markets, I suppose that I must mention the last 24 hours, even though my comment has to be "steady as she goes," an admonishment from my ship-driving days, generally given by the officer with "the con" to the bridge crew during times of distracting events, so as to ensure nobody strays from existing directives. I still don't see them allowing the stock market to crash as almost everybody seems to be predicting. They are creating way too much debt-based credit that they call money for that to happen - it has to go somewhere, after all, and it sure isn't trickling down to us mere serfs out here. For that reason, I see PAAS, SLW and SSRI continuing to be safe ways to leverage silver price increases by two to three times, for those of us who simply must have some of our wealth in paper investments rather than physical metal. Yes, the dollar has dropped a full index point in 24 hours, breaking through 76 like the paper barrier it was. It appears that they are desperately applying the brakes, though, so that the plunge does not get out of hand. Obviously, 75 was and is being defended with everything they have. How long? Dunno, but not long. Recent announcements made plain that, suddenly, American authorities have flip-flopped and now are behind the regular and orderly decline of the dollar, in a nod to the reality that they cannot bring it back from its death march. However, they still can influence its rate of destruction and are doing so, though even that will be lost to them at some point. As you well know, gold and silver took off like skyrockets yesterday, with gold suddenly well above 800 and 1,000 well in sight. Silver finally got with the program, a bit later than normal but now acting perfectly normal for times like this - psychotic, in other words. Until they started hammering metals in the overseas markets last night (continuing through to this moment), silver had jumped a full dollar. This is the way it works. You don't try to time silver or you will miss its moves, both up and down, as they come in a hurry. Just one week after lamenting that I didn't understand why silver yet had made its move, I saw it twitching and called this upleg, saying "I think we are on the upswell of just such a radical silver spike right this moment." Clearly, now we are in just such a spike right now, folks. Normally, I would look for a pullback in both gold and silver at this point, and many analysts are calling for that. However, I have a gut feeling this upleg, while it might see some momentary downward twitching, will be quite substantial. Too many things are going wrong and the dollar is dropping exactly in accordance with "The Magnificent Mogambo's U.S. Dollar Index Predictor" (MMUSDIP). Just what is the MMUSDIP, you ask? The Mighty Mogambu Guru explains: "You paint a dollar sign on a rock, which you can also use to defend yourself, and (according to the instructions), 'Hold the rock in an outstretched hand, making sure the rock is well away from your body, then say aloud 'Oh, Magnificent Mogambo U.S. Dollar Index Predictor, what will the dollar's value be over the long run?' then let go of the rock.' It's uncanny how accurate it is!"
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