from Richard Russell

http://www.dowtheoryletters.com

December 30, 2011 — "Give me control of a nation's money, and I care not who makes the laws." Mayer Amschel Rothschild

Below are the last day of the year quotes for gold.

2000 — $273.60
2001 — $279.00
2002 — $348.20
2003 — $416.10
2004 — $438.40
2005 — $518.90
2006 — $638.00
2007 — $838.00
2008 — $889.00 
2009 — $1096.50
2010 — $1421.40
2011 — $1566.80

This year's close for gold marks the 12th year for higher year end gold closing. To my knowledge this is the longest bull market of any kind in history in which each year's close was above the previous year. This fabulous bull market will not end with a whisper and a fizzle. I continue to believe that the upside gold crescendo of this bull market lies ahead. We are watching market history. 

I note the frustration and anger of the anti-gold crowd. To miss 12 years of rising prices is enough to make any investor furious with himself. I would guess that 99 percent of Americans have never participated in the gold bull market. Thus, sour grapes is the sentiment of the gold-haters. Happy to say my subscribers who listened to me in the early years of the gold bull market have enjoyed the riches restored upon them by the greatest bull market in history. 

To all my subscribers, again, let me wish you a happy and a prosperous New Year. 

Cebuana Lhuillier Pawnshop has been the leading pawnshop chain in the Philippines with over 1,500 branches across the country—from Aparri to Tawi-Tawi. For 25 years now, Cebuana has been true to its slogan “Walang Kapantay Magpahalaga” through the incomparable services that the company offers to its customers- this includes — pawning, local and international remittance, insurance, bills payment, e-load, collection, and foreign exchange. Founded in 1987 by the current Philippine envoy to Portugal, Ambassador Philippe Jones Lhuillier, Cebuana Lhuillier is currently managed by its President and CEO, Jean Henri Lhuillier.