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"For an example of a tangible item moving from being undervalued up to its normal relative value, let us look at oil.  Let us just say its normal value with all other things in $25 per barrel.  At the end of 1998 oil traded for $11.  Normal looked like it was a long way off.  But today oil is looking down at normal.  And it only took 15 months to go from $11 to $30."
Ted Slanker
May 2000



It seems no self-respecting market mavin would be concerned with metals these days--especially gold.  But I'm a gold nut for sure.  Gold has been money for as long as recorded history has been recording.  Gold is money man can trust.  Gold is a money that is no one else's liability.
For many folks, these sayings favoring gold are akin to digging up a dinosaur.  These same folks probably believe in the tooth fairy and that governments can control man's destiny.  When folks don't understand the fundamentals of life, they are adrift.  Gold is an anchor.  Our modern society doesn't believe in anchors.  That's a shame for sure.
I believe gold is the foundation upon which all credit systems rest.  Gold's purchasing power has remained basically the same for thousands of years.  I expect it will for many more thousands of years.  The reason for that is man needs basic substances (the elements for example) to survive on this planet.  As long as man is around then, he will value basic elements.  Gold is a basic element.  But liabilities issued by man, such as the dollar, are here today and gone tomorrow.  They may have value now, but in time, all irredeemable currencies will fade away.  That's just the way it is.  (In case you haven't kept up with it, the dollar lost 95% of its purchasing power during the twentieth century.  Oh, where did that statistic come from?  Would official government statistics work for you?)
Consequently, I believe that a basic understanding of the workings of money and credit is one of the fundamentals of investing.  That's why I guarantee the gold market will get frequent reviews in The Slanker Report and, while I'm at it, I'll cover some other metals too.

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