Hints of Calamity Go Unheeded

By Ian Wyatt

NEW YORK ( TheStreet) -If you don't know the story of Cassandra, I'm sure the details will seem familiar if you've read this letter for any period of time. And I think the tale of Cassandra can help us deal with the mental part of being a commodity investor today.

You might have heard of Cassandra if you've ever taken a Greek mythology class, or been forced to read the Greek epic, Homer's The Iliad in a literature or history class.

The story goes: Cassandra was the daughter of King Priam and Queen Hecuba, the rulers of Troy just before and during the Trojan War.

The god Apollo became infatuated with Cassandra's beauty, and granted her the gift of prophecy. But Cassandra rebuffed his advances, and instead of just killing her or taking the gift from Cassandra, he put a slight wrinkle in her gift: She would still have the ability of 100% crystal clear foresight, but no mortal would ever believe her prophecies.

The worst part, of course, was that Cassandra knew that war was coming to Troy. But no one believed her. She knew that horrible death and calamity would befall her friends and family. She knew that Troy would be sacked by the Greek invaders. She knew that she would eventually be raped by the conquering Greek hero Ajax, and that she would be murdered by King Agamemnon's jealous wife.

She knew all of these things, and told everyone around her, but no one would listen.

No one believed that mighty Troy would ever fall. "The city of Troy is too big to fall," they'd say, "and besides, how will they ever get through our massive walls? Inside of a horse?"

"Yes - that's exactly how!" she would answer.

But no one listened.

She told her father Priam that his kingdom would be sacked, and he himself would be murdered. He dismissed her claims out of hand, claiming that any problems from Greece were exceedingly unlikely to visit Trojan shores.

If you've ever been scorned, laughed at, derided or simply ignored by friends, family or acquaintances because of your resolute beliefs in the commodity bull market, you can think of Cassandra.

Of course, unlike the mythical figure Cassandra, we have the ability to take steps to protect ourselves from calamity. Friends and family don't have to believe us as a prerequisite for disaster avoidance.

They don't have to believe that U.S. federal debt that's seven times larger than annual tax receipts is a danger to the health of the dollar.

They don't have to believe that dwindling oil reserves will make everything more expensive.

They don't have to believe that a growing world population will necessarily need more and more food.

They don't have to believe that these three factors (currency crisis, energy costs and food scarcity) are coming to a head in remarkably rapid succession.

Even though headlines across the globe paint these three trends with high-def clarity, they certainly don't have to believe the truth in order for us commodity investors to preserve our net worth, profit from the trends and prepare for the increasingly inevitable.

So when you tell someone about the demise of the dollar, the rise of oil prices and the increasing likelihood of food scarcity, if they roll their eyes at you, think of Cassandra, and be content in knowing that you, at least, are taking steps to protect yourself from the coming siege.

Good investing,

Kevin McElroy, editor of Resource Prospector

Wyatt Investment Research, founded in 2001 as a publisher of newsletters, offers independent investment research of financial markets, stocks, bonds, ETFs and mutual funds to about 250,000 individual investors. The company is led by founder Ian Wyatt, who serves as publisher and chief investment strategist.

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