We have tapped $800 for Gold and Silver is eyeing $15. The momentum is almost too much for them to be pushed down. Those forces short at $660 - and they are consolidated, conspiratorial forces - are bleeding $14,000 per contract, multiplied by 50,000 short or more and you have enough dead cargo to sink a ship even as large as Scottia Mocatta or any number of fool hardy shorters, along with GS, JPM, Chase, and the grandfather of silver shorts, AIG.
Merrill is in ICU and is about to get plenty of company. No matter how much script the bullion banks throw at the market to short gold and silver into the dust, the power levers now point to the Asian shores and the oil revenue countries can launch a gold and silver salvo that could oust more chairman from their posts, should their trading desks be caught net short while the craft Precious Metals launches heaven bound!
There will be some breathing room now after the $17.00 rise in gold and the $.25 jump in Silver
The ratio is now at 54.9 No movement there and a disappointment for all silver bugs, like me.
The grand man of all things silver, Ted Butler, has stoked the flames with the thought that there is nothing behind the Silver ETF - potentially. I think there are comex delivery slips and not much else. Maybe some other paper claims, but certainly they could not move silver at the rate they would need to to keep the silver behind the paper, instead of the paper far ahead of the silver.
My price target now for silver is a jump up to $15, then a downward run, before a massive run past it, possibly to $18.00
Now is the time to pick up some hot stocks - EDV is a raging great buy, as are Tyhee, ECU, Pediment, Gold Resource, not to mention Pinetree Capital. Rarely do you hear mining mentioned on Bloomberg and that is exactly as I want it at this time in the scheme of things.
Before you let the best opportunity for a quick fortune get away - jump on this train anyway you can. $10 per day if that's all you have.
Then buy yourself some guns and lots of ammo - because you are going to need it when the dollar swan dives, oil blows through $200, and food disappears from the shelves.
Welcome to Argentina or El Salvador in your hometown!!
Government gets even more abusive, crime goes ballistic, and your daily survival becomes questionable. That's where we are headed.
I would love to be wrong, but I am sadly accurate.
If I am wrong, then you will have merely made money and bought firearms inexpensively. If I am right, you will have money when most do not, and you will have a means of protecting yourself from them.
In Liberty...
Wednesday, October 31, 2007
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