Turning to the precious metals we did in fact shock the
trading world with our decision to abandon the gold "ship"
yesterday. For the moment it
appears wise that we've done so.
When quieried by the press as to
why we had made this rather
enormous trading decision, we
said of course that the "action" of
the past several weeks bothered
us greatly; that "trader's intuition,"
or call it what you will, was
involved; that the lessons of 35
years of trading were incumbent
in our decision... but above all it
was the sense that the US
government or that governments
around the world were about to
take action against these rising
commodity prices given the rising number of food riots
that had moved to centre, global stage in the past several weeks