by Bill Holter, JS Mineset, via SGT Report:
In an effort to put the Martin Armstrong saga to bed, I post below quotes and links to two articles he put out in 2010 and 2011 just before being released from prison. Please read not just the quotes provided but his full articles as they are both excellent in content and logic. His 2010 article sounds a lot like “Bill Holter” as I have done this math and logic several times for readers over the years. Back then he said “$5,000 gold is “VERY CONSERVATIVE” …while he now says it will be as high as gold can go. In the second article he takes on “manipulation” which he has since changed his tune on.
I would simply ask “why”? Why has he done a 180 degree turn in his thought process? Why did his “change” of heart begin as soon as he was released from prison? Why do people even follow him now as his logic and reporting of history is flawed? I have no doubt he is a brilliant man as he was a pioneer of the derivatives industry, but how brilliant is it to claim that gold was devalued in 1934 …and then go on to explain “why” it happened?
“I have been conservative in what is possible for the years ahead. I have given a number for gold of $5,000 that is VERY CONSERVATIVE. If we take the US gold reserve 262 million ounces and we divide that into the national debt of $14 trillion ignoring the rest of the world, that yields a price of a staggering amount $53,639 per ounce. Even taking the world official gold reserves dividing that into $14 trillion ignoring the rest of the world, we still end up with $15,873 per ounce.” …Martin Armstrong, Nov. 21st 2010
“The sharp spike rally was in line with a Phase Transition in Silver – NOT gold. This has been distinguished by a virtual doubling in price since January. Anytime a market doubles like this in the last few months going into a high, it is the kiss of death. Silver, of course, has not broken out above its 1980 high as did gold. This is largely due to the fact that silver remains the most manipulated precious metal of the entire group. It is routinely played with by the NY crowd and anybody you says such things is immediately attacked with venom. Silver is the playground for the CLUB” …Martin Armstrong, May 2nd 2011
It is clear to me with the above writings, Mr. Armstrong had a full grasp of logic. I would love to hear from him now as to why his logic was wrong back then…before he saw the light of day as a free man?
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