It “appears” as though “the bottom” is in technically, fundamentally and “anecdotally”. But since we have been suffering through managed markets for so long though, even a head fake could cause spasms. Optimistically though, this being our national birthday and all, maybe the upside is now baked in the cake. Our gift awaits us all.

The “anecdotal” seepage seems to be lifting all ships in the last few weeks, not the least in the noticeable change in the level of tone with respect to the lowest rung on the bottom of the ladder of evil, the BB bashers. And what have we here? a public proclamation of legal action to be launched through the collective action of a new initiative, a Chamber of Mines. We notice with amusement that suddenly, new names are popping up that are of the “mild” pumper or positive nature. Could this be a signal that the bad guys are going long? Duh. The turning of the technical and fundamental worm(s) is oddly coincidental to the final pummeling of any residual weak-kneed retail investors. “Kick um when they’re down”…show no mercy, naked short the “H” out of them. All the while stocks like ECU are stealthily accumulated at the expense of those who are not backed by the monsters of greed.

Ahh, but the game is not over as we witness daily reports of horrifically bad news from the US. While jawbones are fractured furiously spewing spin. The financial and political geniuses have now created a perfect storm that is not only drowning global markets and most of middle class America, but also threatens to submerge those perpetrators of greed, power and spin. Where is one to invest in the future? What will keep us afloat? Paper lies, derivative risk and hidden level three assets or gold and silver? Who knew? VHF reports that LEH is on the brink. Today we see that Merrill is in deep trouble. The financials are a mess and we are encouraged daily that now is “the time to buy”! The financial war galleys are turning their guns on one another via volleys of downgrades. Crude oil is surging, geopolitical crisis abounds, rumors run rampant about war with Iran, warnings are coming from all directions about global debt and a financial crisis being imminent while the IMF has the gall to announce that it wants to audit the US Fed. As the boat tips precariously, the ECB has announced that it has sold the last of its gold at 30 tons and appears to be breaking free of its moorage. Even the evil empire is announcing that gold will rise this year…not too much of course….just enough to lower the water level.

None of the above should appease us enough to let our guard down with respect to the nefarious activities of the Canadian Banks, brokers and hedge funds that have been stealing our lifejackets for years. Let’s not forget though, that they are only rowing to the drumbeat of their ultimate masters, the US led mother ship Cartel and perhaps, Nuclear Sub Sovereign Wealth Funds. They should not be allowed to cruise off in to the mists, having pirated millions at our expense… even though they are now poised to reap windfalls disguised a new breed of sailors enlisted along with those of us still in the PM investment markets who have survived a very long, arduous and criminally conspired drought. These people and institutions have been deadly enemies and should never be forgiven. I trust that all of us will offer whatever support we can to the initiatives of brave men like Jim Sinclair, Bill Murphy, Chris Powell and many more. We have been witness to the sucker punches dealt to Jim Sinclair via Tan Range trading and to Bill Murphy for his open support of ECU. As Sketch pointed out, the monsters must really fear them. As ESL reminds us, “There will be absolute frothing Hell to pay if Sovereign Wealth Funds are found to be accessories to stock manipulation crimes in future lawsuits brought on by the proposed Chamber Of Mines. Imagine the outrage at finding out that foreign nations acquired our future gems at Pawn Shop prices through naked shorting and other similar organized schemes finding out that foreign nations acquired our future gems at Pawn Shop prices through naked shorting and other similar organized schemes.”

“Hold tight to your lifejackets and man the oars. Although bobbing, we are now buoyant. There is land on the near horizon mates.”