1 • FELLOW TRAVELERS

FNN:

In case you haven't heard, we are witnessing a global collapse of the world's stock markets. The Nikkei Exchange has crashed. All stocks from Hong Kong, throughout Europe, and in London are in free fall. There is no reason to expect that the U.S. exchanges to fare any better when they open in New York this morning. We are witnessing the greatest financial cataclysm in history.

Precious metals, however, are a different story. Gold opened in Hong Kong at twelve hundred and fifty-one dollars an ounce and went through the roof from there. Silver opened at an astounding eighty dollars an ounce and hasn't stopped rising. No price seems too high to bid on these metals.

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