A little knowledge could go a long way. The UK, 60 years on, has just completed, or will shortly, its loan repayments to the US for the credit extended by the US to fight the good fight against the Germans. $90 billion and counting so far in credit extended by the good will of the bond buyers to fund America's excursion into Iraq. Rupert's papers spin the government line of disarming those WMD's, you should recognize they were merely securing the rent. (Can any US Evangalist really explain why Allah chose to put that oil under middle East soil...) Blessed are the poor, for they shall inherit the debt.

Never aspire to be part of the public: their ignorance condemns them to perpetual slaughter. Especially small town USA public as they enlisted for that free education.

Some nations in Europe are even still paying off Napoleonic war debts.

But let us not runaway with our emotions here. What US taxpayers think of this now massive US debt level will depend solely and entirely on what happens to the value of their house (read land). Should land price in the US turn down any time soon, the US homeowners are a gunna get angry.

At that point, their focus will turn negative, and as Gann clearly points out, then, all the bad news will get accentuated. If the land price turns down badly enough, belief about the size of that debt could start a US dollar crisis, i.e. doubt about the US government ability to pay, a stampede out of dollars as the worth of holding them lessens. And you have seen just how quickly sentiment can turn in the recent commodity charts.

Land price has to turn down first, for the above possibility. More on that coming. (Refer also back to the email headed "Real estate and Banks" sent Feb 20th, see the .pdf attached file on that email.)

If you have a look at a gold chart, we have 180 degrees from the Nov 4 low, 90 from the Feb high, 60 from the March low, good 45 day cycles working, and Gold very often tops in Feb and May, if you see past history. This is how Gann knew what was going to happen in the future - rest assured it can be done. So after a 180 degree run like that, news then happens to bring the reversal. So it comes as no surprise that already, we get the following. Time tells the turn. http://www.theage.com.au/news/world/power-lines/2006/05/08/1146940474509.html

Expect over the next two months or so, news that lessens the pressure on gold prices.

Really, it is all about time.

I noted with curiosity, Mr Larry Williams was arrested in Sydney - whilst on the plane can you believe it - for tax evasion on book royalties and seminar proceedings. Perhaps he declared the trading profits ?

So it's thanks for the music Grant, Australia's best ever band: http://www.theage.com.au/news/national/lyricist-painted-evocative-word-p
ictures/2006/05/08/1146940475929.html

Notice how in this instance the pressure to reform crystallized at 120 months.

That dreadful accident, again, to young Sophie: losing both feet and third degree burns to 85% of the body as a vehicle went into the child care centre where she was (Dec 15, 2003), now hit by a car (May 6). That is one degree short of 30 months.

Those Beaconsfield miners, underneath for 14 nights, in the mine almost exactly 15 days. One twenty-fourth of a year, half of thirty, one full circle in hours. (15 by 24) Both start and finish exceptionally emotional.

Woodstock Institute Report On Household Debt