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On Monday, I read that they are having an electric power shortage again in Johannesburg and they may have to resume rationing.  (Most of the world’s platinum and palladium come from that part of South Africa, so any disruption causes large price spikes.) The last time that happened was three years ago and platinum was over $2200, rising to that height from less than $1400 and palladium spiked from $350 to nearly $600.  Both metals are moving up fast, once again.  There may be a lot left in the move up and I value platinum and palladium coins as highly as I do gold coins.  They are a great way to diversify your precious metals bullion holdings.  Who knows, if the government ever decides to confiscate gold, those who have platinum and palladium coins will reap the benefits.

There is a fine article about the prospects for platinum and palladium in the Gold Core section of today’s daily.  Check it out.

Drew Mason, our Ivy League colleague, sent me a very interesting video (You Tube) that predicts a hyperinflationary depression.  He asked me if I knew anything about the producers and wondered what I thought of it.

I’ll tell you what I thought of it.  It was very well done, very professional.  I couldn’t take issue with any of the concepts or data that was presented.  Notables such as James Turk, John Williams (Shadowstats) and Ben Bernanke appear and I think you will find it credible, accurate, interesting and might even wish to pass it on to people that you think will benefit from watching it.  I was also impressed because the folks who produced it aren’t selling anything.  No adds, no endorsements, no product trailers.  The producers’ only apparent motive: to get the word out to as many people as possible.  When I viewed it today, over half a million people have already watched it.

The Internet is a powerful tool to get the truth out to the masses.  They can censor radio, TV and newspapers, but when you pick carefully, the Internet is a God send to all of us.

http://www.youtube.com/watch?v=WRvjufH29vE

Sincerely,

David Schectman

Miles Franklin