HRT prevents heart disease.

HRT is no better than placebo for preventing heart disease.
(JAMA 1998; 280:605-613)

Estrogen or HRT does not cause breast cancer.

Estrogen increases one's risk of breast cancer. (JAMA 2000; 283-485-497).

Estrogen levels decline prior to menopause.

Estrogen levels do not decline but are more variable prior to menopause.(Endocrine Reviews 1998; 19:397-428).

Estrogen falls to near zero after menopause.

2/3 of women aged 65 to 80 have adequate estrogen levels.  Bioavailability is the problem.

(NEJM 1998; 339: 733-8).

Serum tests are the gold standard for measuring estrogen ability.

Serum estrogen tests do not account for inhibition by protein binding.

(NEJM 1998; 339: 733-738).

Estrogen is a good treatment for Alzheimer's disease.

Estrogen does nothing for Alzheimer's disease. (JAMA 2000; 283: 1007-1015).

Evista (raloxifene) is a good treatment for osteoporosis.

Evista does nothing for non-vertebral fracture risk. (JAMA 1999; 282: 637-645).

Evista (raloxifene) is safe.

Evista increases incidence of hot flashes, leg cramps, venous thromboemboli and infections. (JAMA 1999; 282 637-645).

Osteoporosis is caused by lack of estrogen.

Osteoporosis starts 10-15 years before menopause, at time when estrogen levels are still high (all references agree).