Honest Money Gold & Silver Report

House of Honest Money
Weekly Commentary by Douglas V. Gnazzo

Dow Theory Dead or Alive

Abstract

The stock market made a new all-time high this year. All one could do was to stand in awe at the powerful performance it displayed. There are those who contend that a new bull market has begun, rising phoenix-like from the ashes of the 2002 decline that saw the market give up nearly a third of its value in less than a year. The following paper will examine the question as to whether this is a new bull market or something else. History doesn’t necessarily repeat note for note, but is sure does rhyme, often times in a different key.

A few markets from the past worth noting are: the bear market of 1973-1974, the panic fall in 1984 that was precipitated by the Continental Illinois bank failure that almost took the system down, the precipitous crash of 1987, the bear market of the early 1990’s that was in response to the fall in the real estate markets, and lastly the Long Term Capital Market crisis where one failing hedge fund sent shivers through the entire world’s financial system, threatening it to freeze up and shut down. Markets look most bearish just before they turn bullish; and conversely they look most bullish just before they turn bearish.

Full Article

Weekly Market Wrap 10/26/07
by Douglas V. Gnazzo

Economy

The International Monetary Fund and the World Bank held a three day conference in Washington this past week. Numerous financial, economic, and monetary issues were discussed; be that as it may, the subprime mortgage debacle that has spread like wildfire throughout the credit markets received the most attention.

Full Report

Honest Money War Room
The Bill of Rights

The Bill of Rights

During the debates on the adoption of the Constitution, its opponents repeatedly charged that the Constitution as drafted would open the way to tyranny by the central government. Fresh in their minds was the memory of the British violation of civil rights before and during the Revolution. They demanded a "bill of rights" that would spell out the immunities of individual citizens. Several state conventions in their formal ratification of the Constitution asked for such amendments; others ratified the Constitution with the understanding that the amendments would be offered.

Full Article

Novus Ordo Seclorem - The New World Order
The Magna Carta

The Magna Carta

King John (1199-1216) was forced by rebellious barons to sign the Great Charter (Magna Carta) in June 1215. This document defined the relationship of lord and vassal, and was purely a matter of concern to members of the ruling elite. It later came to be thought of a guarantee of the rights of all Englishmen, and a" landmark on the road to limited monarchy".

Full Article

Quo Warranto - By Whose Authority
The Spirit of Laws

The Spirit of Laws

By Charles de Montesquieu

Book I.
Of Laws in General

1. Of the Relation of Laws to different Beings. Laws, in their most general signification, are the necessary relations arising from the nature of things. In this sense all beings have their laws: the Deity His laws, the material world its laws, the intelligences superior to man their laws, the beasts their laws, man his laws.

They who assert that a blind fatality produced the various effects we behold in this world talk very absurdly; for can anything be more unreasonable than to pretend that a blind fatality could be productive of intelligent beings?

There is, then, a prime reason; and laws are the relations subsisting between it and different beings, and the relations of these to one another.

Full Article

Dragon Slayers
Numquam Gerite Signum Ubi Draconem Petitis

The Order of the Dragon

[Flag of Wales]

The Founding

The Order of the Dragon is said to have began with the King of Hungary, Sigismund, in the year of our Lord, 1408. The reason usually given for the secret order of knights was to protect the royal family from the invading Ottoman Turks. Maybe - maybe not.

In German the word Drachen means dragon; in Latin Draconis is dragon; and in Romanian drac means dragon or devil. The ending ulea and ul mean son of. Thus Vlad Dracul or Dracula meant son of the dragon, or son of the devil, depending on the language being spoken or written.

Dracula

Dracula’s father was known as Vlad Dracul II. He was descended from Mircea the Elder, who is usually considered the original scion of the House of Dracul. However, this is open to debate, as Mircea had a long line of lineage from which he was descended: the House of Basarab – the first ruling House of Wallachia.

Full Article

News Highlights of the Week
09/16/07

National Public Radio

ls Grilled on Iraq

On their second day of congressional testimony on the situation in Iraq, Gen. David Petraeus and Ambassador Ryan Crocker on Tuesday largely reprised their opening statements from Monday, when they appeared before members of the House.

View Full Article

The Spirit of Laws

By Charles de Montesquieu

Book I. Of Laws in General

The Order of the Dragon

National Public Radio

On their second day of congressional testimony on the situation in Iraq, Gen. David Petraeus and Ambassador Ryan Crocker on Tuesday largely reprised their opening statements from Monday, when they appeared before members of the House.

Book I.
Of Laws in General