Dear Extended Family,

Please do not be confused by today’s market.

1. The new Commander and Chief to take over the onerous Presidential duties tomorrow is being welcomed by those that see President Elect Obama as a sort of "Second Coming FDR." That seems a tad overrated under present circumstances. It is not economically the best comparison.

2. The idea that the various constituent countries of the Euro have more problems than the US is media misguidance.

3. The upcoming addition of fiscal stimulus will have an effect. That effect has severe unwelcome consequences that will not be postponed. The effect will be evident before the 2nd half of 2009.

4. The planet is getting too close to a universal WEIMAR EXPERIENCE which has no historical comparison to judge by. History is about to be written.

5. Gold is the only and certain answer in this monetary abandon about to be kicked in the rear by fiscal madness.

I need a few days after the 8+ hours in the air from Joberg to Dakar and another 9 hours immediately thereafter from Dakar to JFK. That is a long time to be in one seat no matter how comfortable it is.

Respectfully yours,
Jim