It saddens me to think that things are going to get ridiculously ugly in the retail sector, adding to the mix for '09 with job losses mounting and hardships widespread while the scum sucking elitists party on.....I'm wondering how long before the American public start showing their anger in the form of mob gatherings in the street, head hunting for answers and their own survival, from coast too coast.

Oh yeah, nice move in our beloved ECU. Just the tip of the proverbial iceberg, I'm sure, with many up days still right ahead of us. We'll need everyone of them to help us put the memory of the severe pummelling we've taken behind us, once and for all.....I sense retirement is drawing nigh for many.....let'er rip!!!

GLTA,

BD1

A Special Report from Precious Metals International

November 25, 2008

Precious Metals Turn ↑

Is this the Beginning of the Next Phase of the BULL MARKET for Precious Metals?? - We think so!!!

Over this past week we have witnessed even more insanity in the World's Financial Markets.

1. The Fed closed 2 Banks in California.

2. The State of Georgia Closed a Regional Bank. (This brings the total Bank Failures to date for 2008 to 22).

3. Executives from GM, Ford, and Chrysler arrived by Private Jets (Tin Cups in Hand) to beg Congress for a 25 Billion Dollar loan. Unfortunately they had no plan as to how they would use these funds to turn their Companies around. They were given to December 8th to return with a viable "use of Funds" in order to receive "viable" Congressional Consideration.

It should be expected that Congress will give them what they are asking for and probably more. Their justification will be their concern that should these Auto Companies eventually fail, the "fall out" would affect hundreds of supportive industries and create massive unemployment. Some Analysts are even using the "D" word as the end result of their potential failure.

1. Citigroup has been claiming for months that they are very stable and well capitalized. We have advised you in our previous Memos that Citi has the potential of becoming the "Biggest Bank Failure in the history of the World". Early in the week Citi announced they were cutting up to 52,000 employees from their payroll between now and mid 2009.

Later in the Week they announced that they were seeking to either merge or sell assets in order to avoid failure. By Fridays close their Stock had plummeted to $3.77.

This Morning the announcement was official - Once again - "Uncle Sam to the Rescue".

1. 20 Billion from Tarp

2. 306 Billion in Government Guarantees on their Residential and Commercial Mortgage paper

3. Dividends restricted to a maximum of 1¢

4. Government gets 7 Billion in preferred shares at 8% Interest.

We say this won't cut it, as our sources advise us that Citi's Sub prime portfolio is in excess of 5 Trillion not the 1 Trillion we all thought.

It sure looks like the folks at Citi have been secretly meeting behind closed doors with our friends at the Fed and the Treasury for quite some time.

1. Now lets look at all the announcements of Major Retailers (Did we say Announcements??) Some yes - Some yet to come, so here we go.

Circuit City (filed Chapter 11)

Ann Taylor 117 stores nationwide closing

Lane Bryant, Fashion Bug and Catherine's to close 150 stores nationwide

Eddie Bauer to close 27 stores and more after January

Cache will close all stores

Talbots closing down specialty stores

J. Jill closing all stores (owned by Talbots) Pacific Sunwear (also owned by Talbots)

GAP closing 85 stores

Footlocker closing 140 stores and more to close after January

Wickes Furniture closing down

Levitz closing down remaining stores

Bombay closing remaining stores

Zales closing down 82 stores and 105 after January

Whitehall closing all stores

Piercing Pagoda closing all stores

Disney closing 98 stores and will close more after January

Home Depot closing 15 Stores

Macys to close 9 stores after January

Linens and Things closing all stores

Movie Galley closing all Stores

Pep Boys closing 33 Stores

JC Penny closing 33 Stores

Ethan Allen closing down 12 Stores

Wilson Leather closing down all Stores

Sharper Image closing down all Stores

KB Toys closing 356 Stores

Loews to close down some Stores

Dillards to close some Stores

Make certain you don't buy holiday Gift Cards or Gift Certificates from any of these Retailers as they may not be there when your recipient goes to use them.

For the thousands who will lose their jobs due to these closings, you have our sympathies and we wish you good luck in securing New Employment.

1. Let's not forget the US Dollar. Now that US Treasuries are approaching a 0 to negative yield you can look for the Dollar's recent strength to reverse and reverse sharply.

1. Finally for those folks who have given their redemption notices to their Hedge Fund Managers don't look to receive your funds expeditiously - Many Hedge Funds are refusing to honour redemption requests or are conducting redemptions on a "first come first serve" basis. So much for "Liquidity". In our opinion anyone who invests in Hedge Funds in the Future must be classified as "Brain Dead".

As we pen this Memo (11:30 a.m.) Gold is up $30.00 on the day - (4%), Silver is up $1.17 (12%), Platinum is up $53.00 (6%) and Palladium is up $19.00 (10%).

We feel that this price activity coupled with Fridays bounce in all Metals is indicative of having witnessed the bottom of the synthetic price correction we have been experiencing since late July early August.

All of the Above coupled with the continued shortfall in Comex Inventories relative to Open Interest for December, February Gold and Dec, March Silver, the massive inflation which will result from the Treasury having to print, print, print and the increase to the unemployment rolls provides us with the right scenario to signal the beginning of the next Bull Market phase for Precious Metals.

Its time to be aggressively pro-active but do not overextend your ability to stay the course as the volatility day to day should be expected to continue.

Trading Department - Precious Metals International, Ltd

© 2008, Worldwide Precious Metals.
www.wwpmc.com