don't they say that the shares lead the metal?, page-12

Hi Adwebster...

Fair enough re the TA point...

I think you misunderstand me about the civic duty point I made. I was saying that this actually supports the GATA position - not undermines it. It's a more plausible psychological explanation and I think it would help GATA's case if they adopted it. I think more people would likely be swayed by it.

That doesn't mean gata has to accept that the cartel is actually helping by doing what they believe to be their civic duty. I mean - Hitler probably thought he was doing his civic duty.

My point is just that in terms of marketing the cartel theory - it helps to have a plausible psychological explanation of the behavior. If people can't see such an explanation, they are less likely to believe the theory as a whole. I think the one that GATA and others often proffer is a bit simplistic and flawed - but there is a better one that is more parsimonious and is clearly supported by a great body of historical work, and yet still backs the rest of the GATA view.