Hi Coach,

First of all its great to see you posting again. This kind of wavering support is quite common recently even amongst staunchly pro-gold board members, however I think it is justifiable for many due to the recent past and the common knowledge of the manipulation we've all suffered from in the past. I believe that my total enthusiasm in posts recently garnered a few reprimands as being rather overenthusiastic and perhaps a bit of cheerleading/pumping... however nothing could be further from the truth. I just believe (and have believed for weeks now) that the game has changed. Those who are longer in the game may think it's changed, but to stake their reputation on it (when they have been disappointed so many times before) is just too frightening to contemplate and thus they remain more stoic in their support. I don't blame them, but I am younger and more naively a political scientist by trade and not a chart guru. However, I this in itself may be the difference in it's self... I believe the real shift here is due to politics not a shift in the fundamentals of the metal market.

What's shifted politically? What hasn't! From the collapse of the disastrous fiscal policies of the Reagan conservative movement and their deregulate, deregulate, deregulate mantra mixed with fear mongering about socialists hoards at the door... to the rise, rise, rise of new economic powers and currencies (many have failed to note the real power of the EUR as an alternate currency in international trade - backed by the worlds real largest economy). The politics of yesterday kept people in their place, their reason and understanding of markets and metals dictated by the trends on Wall Street and therefore the ability to be forever manipulated by much smaller numbers of people with the high profile of being part of the elite on Wall Street. They had the power to shift markets through shock tactics, and still do!

However what they are loosing is the 'mental' ground. With so many new players in so many languages all over the globe (they were always there, but now they have real money and real power to move things) they have less overall influence. Add to this the world wide awakening to the fact that the US and the USD had lost it's teflon coating. When the boyz sneeze now, others quickly react, but then realize it's just a sneeze and continue on their way. I don't believe there isn't a danger here (lost faith in a bull run just takes a bit of fear mongering in the press a collective 'disbelief' by investors in what they are actually achieving) but we all know here that the fundamentals are sound. The world is more global, for better or worse, and the US is less and less of a towering influence militarily, politically and economically. I know very few people here who put much faith in USD data anymore, they simply have 'written off' the US as a bankrupt state with no declared bankruptcy. Wonder why the CEO's and sales guys around here have their iphones's filled with travel dates to China/India/Japan/Abu Dhabi?

So as a political scientist I won't waffle here and change my tune. Things have changed for the better and I believe firmly in this bull (which overnight is running like a wild chipmunk on speed) but will always remain cautious with my money and keep my eyes on changing sentiment. I think you were right to say that there is very little left to say about ECU and their current position, or indeed about the fundamentals of the precious metals (except of course this 'basket of currencies' - yet another nod to a shifting power in economics)... however there is loads we can understand through the shifting political spectrum. I personally believe that Obama's health plan is the best thing the US could possibly due to turn things around for them, but I also think it falls short of what should be done. It won't pass like ti is and will continue to be watered down to something more palatable to the corporate elite who run the media and lobby Washington. Forget what people really want (who wouldn't want affordable health care for all citizens like we have in Canada/Europe once they have experienced it) but this highlights the political problem for the US at the moment. It is not a democracy. It is a manipulated hierarchy with an aggressive corporate power base who really run the show... and influence public opinion through hard core media tactics. I do believe however that even this will crumble in time as Americans are a tough bunch and the thin veneer of logic behind 'whats good for wall street is good for America' is loosing its sheen due to simple reality and a dash of the internet (how have the corporates failed to control the internet in the US eh? Underestimation in the power of communication?).

Anyhow, I am on record as believing in this run and will continue to do so (my belief is based on politics, others rely on trends, others still on numerology - all are valid until disproved and wrong). ECU may not be as exciting as a producer at this point as others, but I think only a fool would not see their shares as a bargain. I for one can't wait, really, really can't wait for the exploration to kick back in... whats really under the ground there eh? I think it's the mother-load, but it's purely speculation on my part and I urge everyone to due their own DD/ and read some of the more 'mining knowledgeable' posters like GWR, pic, argoz, Coach etc. in order to keep learning about what your buying or thinking of buying. In the words of the great Neil Young... long may you run :)!