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- How a Falling Dollar Affects Gold
- The Long Legs of the Silver Rally
- Silver Criticality, Why Silver Might Crash?
- What the 1970′s Performance of Gold, Silver and USD Says About Tomorrow
- “Three Peaks” Pattern Suggests Gold to Decline 17% into June!
- Silver Down to $41.63 - BUY NOW!?
- Part 6 Silver Manipulation - The Paper War has gone Full Retard
- Banksters Covered 26 Million Silver Oz Short Position
- The New ‘Operation’ In The Silver Market
- Silver Raid Unimpressive Thus Far
- And another perpective on silver margin hikes....the circus continues
- Silver insurance
- The Silver Bull Market Is Over
- Lessons Learned From the Leveraged Silver ETF
- Interview with silver and gold trader in New York Pits
- Why It's Time To Sell Silver Stocks and Buy Bank of America
- Has the Euro's Streak Come to an End?
- The Diminished Case for Chinese Yuan Appreciation
- Gold Robust Despite Death of Bin Laden…
- A Silver Insurance Plan
- Turk - Silver Forming Another Bullish Flag Formation
- A controversial take on Osama bin Laden's death
- The Warren Buffett "indicator" says gold and silver are going much higher
- Five reasons food prices are headed much higher...
- Buying a House in Silver
| How a Falling Dollar Affects Gold Posted: 03 May 2011 06:21 AM PDT Resource Investor |
| The Long Legs of the Silver Rally Posted: 03 May 2011 06:20 AM PDT Lew Rockwell |
| Silver Criticality, Why Silver Might Crash? Posted: 03 May 2011 06:19 AM PDT King World News |
| What the 1970′s Performance of Gold, Silver and USD Says About Tomorrow Posted: 03 May 2011 06:03 AM PDT Many lessons can be gleaned from history and, while no two periods are identically alike, there are often many similarities to learn from. The current period, for example, is often compared to the Great Depression in regards to unprecedented government action as well as with the 1970s in regards to trends in commodities and inflation. [Let's take a closer look.] Words: 1165 |
| “Three Peaks” Pattern Suggests Gold to Decline 17% into June! Posted: 03 May 2011 06:03 AM PDT There are a number of different ways to look at what has been happening with the price of gold and silver of late and to anticipate what is in store for them next. One of the most unique ways of assessing past, present and future movement is by taking a look at their "Three Peaks and the Domed House" and "Bump and Run" chart patterns. In deed, the "Three Peaks" pattern suggests that gold has peaked and will now decline by 17% to $1,290 per ozt. in June. Let me explain. Words: 835 |
| Silver Down to $41.63 - BUY NOW!? Posted: 03 May 2011 04:52 AM PDT What do you guys think? Is this the bottom of the correction? I'm looking to buy more and I think NOW is the time. If it drops to the $35-$37 range, I'll be surprised. I think this is the dip we've all been waiting for. |
| Part 6 Silver Manipulation - The Paper War has gone Full Retard Posted: 03 May 2011 04:20 AM PDT You know how to thank me! |
| Banksters Covered 26 Million Silver Oz Short Position Posted: 03 May 2011 04:13 AM PDT The CFTC released it's commitment of traders report for the last Monday's Silver Smack Down. And it shows the big guys used the raid to cover -5,209 short contracts (each contract is 5,000 oz. of silver) which is a little more than 26 million ounces of short silver. I wonder how much they covered with a much larger raid last night? This is a huge development. As soon as these guys either cover their shorts or they fail to deliver the physical metal it will be game over. (Remember we have less than 38 million ounces in the registered inventory of the CRIMEX. http://theintelhub.com/2011/05/02/si...hort-position/ |
| The New ‘Operation’ In The Silver Market Posted: 03 May 2011 03:50 AM PDT If there was one element of surprise in the latest take-down in the silver market by the bullion-banks it was that they dredged-up the corpse of Osama Bin Laden as another "tool" for their manipulation. Indeed, the most likely reason for the absurdity of "burying him at sea" was to make sure no one saw the body (skeleton?) – and the weeks or months (or years?) of decay while the U.S. government waited for the ideal propaganda window for the announcement. It is clearly a sign of either the importance which the banksters place in capping the silver market or their vulnerability/desperation that the bankers (and the U.S. government which serves them) could not think of a better 'use' for Bin Laden's corpse than to manipulate the silver market. The fact that this ambush was launched at this particular time isn't in any way surprising. Rather, it would have been an enormous surprise if they had not made such an attempt. The parameters are very straightforward. The $50/oz mark is the last "resistance" remaining in the silver market – the final 'line in the sand' to breach, to mark the defeat of the bullion-banks. Of course $50/oz (the approximate "top" from the 1980 spike) is not really "resistance". The $50-bill which purchased an ounce of silver in 1980 was worth well over double the anemic value of a $50 Bernanke-bill today. Thus, in real dollars (which is what we must use for markets to make sense), the current price-barrier is of little significance – other than the psychological significance of this large, round number. Putting aside the actual parameters, in the phony world of the bankers' fiat-paper, the $50/oz mark is of enormous importance to them, because it is the last time that their manipulation operations will be aided by any technical "resistance". The reason that this current attack is as extreme as the banksters could possibly conjure up is that they are desperate to create the appearance of a "crash" as silver approached the $50/oz mark. This isn't relevant so much for the current rally in silver as it is for the next rally. What the bankers want to do is generate the illusion that there was a violent, negative reaction as silver neared $50. The reason for this is to manipulate the 'T/A jockeys' – traders who aren't capable of understanding the fundamentals of markets, so they resort to simple gambling, based upon the "technical indicators" they rely upon to "handicap" stocks and other bets. As I've pointed out many times in the past, "technical analysis" is 100% meaningless in manipulated markets. All technical analysis is based on a very long list of assumptions, starting with "free and open markets". If any one of the assumptions is violated, the technical analysis has zero validity. These facts are of little importance however to the gamblers who call themselves traders. Indeed, the "professionals" who play the horses also have their own "systems" at the track which they use for their own "technical analysis" – and consider their wagers to be equally "scientific". Obviously, these idiot-traders are the easiest segment of the market to manipulate, as all you have to do is create a phony chart to impress them, and they will dutifully respond like Pavlov's Dogs. Thus the banksters want to convince the traders that $50/oz is the "Mount Everest" of the silver market – a near-impossible peak to scale. The reality (as veteran metals guru Jim Sinclair likes to observe) is that at each of these major technical/psychological thresholds it typically takes three attempts for the longs to overrun the bankster defenses – and permanently leave another price level in the rear-view mirror. This means that what is happening presently has nothing to do with any "top" in the market, or even with any "seasons" in this market. Certainly the bullion-banks want to pretend that there are still seasons in the precious metals sector. However, the reality is that precious metals demand is now driven nearly 100% by the insane money-printing (and currency-dilution) of Western bankers, primarily "Helicopter" Ben Bernanke. Since the bankers never give their printing presses any rest, this means there is no longer ever a time when gold or silver should remain stable – let alone retreat in price. This is why the bullion-banks pulled out "all the stops" for this ambush, including enlisting the support of the corrupt operators of the Comex exchange – the CME Group. This private corporation is supposed to manage these commodity markets in an equitable manner, and to maintain stability in these markets. The CME Group always does exactly the opposite. |
| Silver Raid Unimpressive Thus Far Posted: 03 May 2011 03:40 AM PDT Navy Seals tap an Islamic mass murderer; large brokerages sending out special notes to their most "favored" clients saying sell commods (after taking house positions to benefit? Is that too cynical?), … Canadians pull the right levers (mostly) in the ballot boxes across the Great White North, and May has indeed arrived on schedule, as it does each year about this time. Just below is a short-term chart of the largest silver ETF with a few embedded comments.
Believe it or not, we expected a harsher sell-down for silver than we have seen so far. We expected a rip-roaring "plunger" such as we saw in 2004 (April/May -35.9%), in 2006 (May/June -37.7%) or in pre-crash 2008 (March/April -24%), we are omitting the 60.8% silver plunge from July to October as being extraordinary, but so far nothing like those huge percentage cliff dives for the second most popular precious metal. So far the most we can say that silver has corrected this harsh-correction trip is a bit less than 15% ($49.75 to $42.45). Of course nearly all of that plunge occurred in uber-light liquidity Asian trading late Sunday evening on a day that the U.K. was out of action. Does that even count? Well, yes, it counts. Raids always count – if they "stick."
Bargain Hunting Season is apparently off to an early start in 2011, as expected. That is all for now, but there is more to come. |
| And another perpective on silver margin hikes....the circus continues Posted: 03 May 2011 03:25 AM PDT Click hear to watch this... |
| Posted: 03 May 2011 03:09 AM PDT Howdee All With all the volatility occurring in silver currently I was looking into how I could protect myself from a massive downside correction in silver. I went through the silver correction in 2008 when it went from $21/oz to $9/oz and it was pretty painful! So, after researching this for a bit I came across this: ProShares UltraShort Silver (ETF) Basically, you buy this ETF and when the price of silver goes DOWN the price of your shares in this ETF goes UP. What I would like to know (and can't figure out) is, how many shares in this ETF do I have to buy to protect myself if I own the following amounts of physical silver: 1) 100oz 2) 1000oz 3) Any other amount Can someone help me out with this or point me in the right direction? |
| The Silver Bull Market Is Over Posted: 03 May 2011 02:47 AM PDT Mark Thomas submits: If you're a silver investor, we didn't write this to convince you that the right thing to do right now is buy or sell silver; it is just to share some of our investing experience with you so maybe you can learn from an event that happened early in our investing career. Also, we feel so responsible for having been such strong advocates for buying silver that we explain why we have so dramatically changed our views so quickly. No one was more disappointed by the events in the silver market than us. We expected silver to remain in a nice steady bull market for the next 12-18 months. We were hoping the parabolic phase would begin when it was around $75, and that it would take it to $120. However, the market never does what you need it to. After months of research and hard work -- and properly Complete Story » |
| Lessons Learned From the Leveraged Silver ETF Posted: 03 May 2011 02:40 AM PDT Michael Johnston submits: The impact of silver's incredible run-up over the last year has been felt throughout financial markets and in a wide variety of industries. Those investors with direct exposure have no doubt enjoyed the near-vertical ascent of the precious metal, as silver has outperformed virtually every asset class over the last several months. But not everyone has cheered the climb higher. The surge in prices has sent end users of the metal, such as film manufacturers, jewelers and solar panel companies, on a scramble to identify and procure cheaper alternatives. Mining firms have begun to adjust their hedging strategies, and some are no doubt experiencing significant regret after committing to sell significant portions of their output at rates far below the prevailing market price. The silver rally has also highlighted a few interesting aspects of the ETF industry. Physically-backed exchange-traded funds offering exposure to silver bullion have emerged as a favorite Complete Story » |
| Interview with silver and gold trader in New York Pits Posted: 03 May 2011 02:38 AM PDT Click hear to watch this... |
| Why It's Time To Sell Silver Stocks and Buy Bank of America Posted: 03 May 2011 02:32 AM PDT Rougemont submits: I remember when silver was undesirable as an investment and sold for less than $5 an ounce. I also remember when Bank of America (BAC) sold for about $50 per share. At that time, it was a good opportunity to buy silver and sell Bank of America. Fast forward to 2011, and silver is nearly $50 per ounce and Bank of America is about $12 and is considered to be an undesirable investment by many. There is definitely no frenzy or rush to buy BAC shares and there is no bubble in this bank stock. The same can't be said about silver and yesterday we saw a large move down in the price of silver as margin requirements, which you can read more about here. When you see a large drop due to raised margin requirements, it is a sign of froth and speculation. It also is a reminder that Complete Story » |
| Has the Euro's Streak Come to an End? Posted: 03 May 2011 02:23 AM PDT Marc Chandler submits: The euro has advanced for ten consecutive sessions coming into today. Yesterday's failure to establish a foothold above $1.49 appears to have triggred a bout of profit-taking and the euro has retreated to yesterday's lows. Profit-taking is also being seen in the dollar bloc. The Reserve Bank of Australia left rates on hold for the sixth month and its statement was slightly tweaked suggesting a little more inflation altertness, but not enough to prevent the Australian dollar from testing a 4-day low near $1.0850. Soft wage data in New Zealand is helping flush out expectations of a rate hike. A majority victory for the Canadian Conservatives has not protected the Loonie from the US dollar's recovery. Sterling is the big mover though. A softer than expected manufacturing PMI, which at 54.6 stands at a 7 month low has triggered sharp drop in UK rates as BOE rate hikes seem also Complete Story » |
| The Diminished Case for Chinese Yuan Appreciation Posted: 03 May 2011 01:46 AM PDT ForexBlog submits: The Chinese yuan has appreciated by more than 27.5% since 2005, when the People's Bank of China (PBOC) formally acceded to international pressure and began to relax the yuan-dollar peg. For China-watchers and economists, that the Yuan will continue to appreciate is thus a given. There is no question of if, but rather of when and to what extent. But what if the prevailing wisdom is wrong? What if the yuan is now fairly valued, and economic fundamentals no longer necessitate a further rise? (Click charts to expand) Prior to the 2005 revaluation, economists had argued that the yuan (also known as the Chinese RMB) was undervalued by 15% - 40%, and American politicians had used this as a basis for proposing a 27.5% across-the-board tariff on all Chinese imports. Given that the yuan has now appreciated by this exact margin (and by even more when inflation is taken into Complete Story » |
| Gold Robust Despite Death of Bin Laden… Posted: 03 May 2011 01:43 AM PDT gold.ie |
| Posted: 03 May 2011 01:33 AM PDT  Gary Tanashian submits: Biiwii's Approach to the Silver 'Play' – Insurance Excerpted from the May 1st edition of Notes From the Rabbit Hole Some blog comments to the Rick Ackerman/FOFOA post highlight something I do not often write about in detail; physical metals. Anonymous entities can write all they want about the metals but I, being a real and identifiable human, write things like "see to securing debt-free value whether it be in property, productive enterprise, quality of life and/or monetary metals." I have written about personal preparation initiatives like power generation, alternative heating, firearms, a productive 'other' business, debt elimination and in a general way, metals as well, with the view that actual metal considerations should be seen to before speculating in gold stocks. As to methods of ownership (ETFs, Bullion Vault, Gold Money, overseas physical storage, domestic physical storage, etc.), most NFTRH readers are educated well enough to know which are Complete Story » |
| Turk - Silver Forming Another Bullish Flag Formation Posted: 03 May 2011 01:20 AM PDT Turk - Silver Forming Another Bullish Flag Formation For whatever reason, this chart won't display here. Click on the link. http://kingworldnews.com/kingworldne...peimage_24.png With silver down just over 4%, the dollar continuing to grind lower and gold consolidating, today King World News interviewed James Turk out of Spain. When asked about gold and silver Turk responded, "Nearly all of Europe is closed today to celebrate May Day, and Asian markets are notoriously thin even in the best of circumstances. So when the news of Bin Laden's death hit the tape, the dollar bounced in an emotional knee-jerk reaction. Silver was pummeled, and gold ended slightly lower. The important point Eric, is that both metals are bouncing back." When asked about the violent action in the metals Turk replied, "The volatility scares a lot of people, which is understandable. It can be heart-stopping to see silver drop 10% like it did, but silver is not unique in this regard. Even blue-chip stocks or other high-quality assets drop in price during certain periods. Unfortunately, those big price drops can easily cause you to take your eye-off-the-ball or shake you out of a position. Don't let that happen to you in a bull market such as we are seeing in gold and silver What's worse is that these occasional price gyrations play into the hands of the anti-gold crowd, who claim that gold is a volatile commodity. Of course, the real volatility comes from central bank interventions that distort the market process as well as the huge amount of leverage used in the paper-gold market. The point is, Eric, long-term price trends are caused by underlying fundamental factors that determine the true value of an asset, not news items. And the underlying fundamentals for both gold and silver remain very bullish. Look for example, at the US Dollar Index, which is trading at a new low as we speak. The trading day just ended, and the "Bin Laden bounce" is already history. More importantly, this new low in the Dollar Index suggests that the waterfall decline we have been speaking about is gaining momentum. The ongoing destruction of the world's reserve currency inevitably means higher gold and silver prices. It also means for the time being, a euro that will approach $1.50 or so - at least until people recognize that the euro has its own intractable problems and is no more a safe-haven than the US dollar. When that happens, the flood of money going into precious metals will be overwhelming. You know my longstanding price projections have been $1800 gold and $50 silver by the end of June. Silver essentially reached my target already, so it would not be surprising for it to move sideways in a large trading range waiting for gold to catch up. But regardless of when those price targets are reached, KWN readers need to focus on the fact that the US dollar remains in a long-term bear market. The flip-side of that coin is that we are witnessing a major bull market in the precious metals. So readers should not be misled by price gyrations or news items that are of no long-term consequence. Everyone's main task remains the same, continue to accumulate the precious metals month-in and month-out. If today was your day to buy and you picked up some cheap metal on the lows, good for you. Next month your purchases may be at a higher price, so it all evens out in the end when you have a long-term accumulation program. In a world of pernicious central bank interventions, excessive leverage and rampant speculation, the ongoing accumulation of precious metals is your platform of safety. Given the horrific track record of central banks as evidenced by the continuous erosion of purchasing power of national currencies, it is obvious that we cannot rely on central banks to do the right thing anymore. More and more people around the world are waking up to this fact and they have begun to act as their own central bank. The way they are executing this strategy is by owning physical gold and physical silver as their personal reserves." When asked about silver specifically Turk stated, "I believe if you look at the chart (above) silver is in the early stages of a bullish flag formation. The size of this flag pattern is much broader in terms of size than the previous flag, but this should be expected because volatility increases as bull markets continue. If this pattern holds, silver will continue its consolidation for some time before climbing to higher levels. It will be fascinating to see how silver trades going forward. As Bill Haynes mentioned during the KWN Weekly Metals Wrap, he saw tremendous selling by the public when silver was near the $50 level. This selling was almost entirely comprised of what we be termed "small owners of silver." These were not large holders of silver, but rather small holders who had profits and seemed to all rush to sell during a two day period when we were near the highs. This type of activity by the small players is almost always a contrarian indicator, but we will have to wait and see if the little guy got it right this time. There are so many interesting dynamics at play in the secular bull market in gold and silver, but one thing I can tell you is that we are a long way from a final top in both gold and silver. © 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged. Eric King KingWorldNews.com |
| A controversial take on Osama bin Laden's death Posted: 03 May 2011 01:12 AM PDT From Gonzalo Lira: (Before I begin, I just have to say: Oh boy – here I go really stepping away from the shores of the mainstream.) ... My readers know I don't truck in conspiracy theories. I believe Elvis is dead, I believe Paul never died, I believe 9/11 was a terrorist incident, and I believe Neil Armstrong did in fact land on the moon. But I don't believe Osama bin Laden was killed over the weekend. The story goes this morning that bin Laden was tracked down to a multi-storey compound in the middle of the Pakistani hinterlands, where he was shot twice in the head by American Special Forces. These soldiers then took his body, and buried it at sea. That's the story. But I don't buy it... Read full article... More Cruxallaneous: How to buy gas for $0.25 per gallon Doug Casey: Gold is the only safe place left Porter Stansberry: My worst predictions are now coming true |
| The Warren Buffett "indicator" says gold and silver are going much higher Posted: 03 May 2011 01:08 AM PDT From Zero Hedge: Last Saturday, many investors experienced their yearly climax with the annual shareholder meeting of Berkshire Hathaway, the investment vehicle of Warren Buffett and Charlie Munger, which attracts tens of thousands enthusiastic BRK shareholders. The "Woodstock" for investors is always a good reflection point for us to see what these gurus have to say about our favorite asset class, commodities... and more specifically, gold and silver. Buffett and Munger have never been huge fans of gold, simply because they don't understand precious metals. A well-known phrase of Warren Buffett on gold: "Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head." Of course, frequent readers of our reports will know by now that this is a lot of BS. Gold is an essential element within any sustainable monetary system. Moreover, it's because of the lack of gold within our current fiat currency system, that we are in today's financial 'Catch 22'! This simplistic reasoning of Buffett makes no sense whatsoever (and we have a very strong sense that these guys know what is going on). But Warren Buffett & Co. are part of the financial elite which have been profiting for decades from the current (fiat) credit system. This was once again confirmed during the Q&A, when Buffett answered... Read full article... More on precious metals: Richard Russell: A "great gold tsunami" is coming If you own gold or silver stocks, this analysis could surprise you Top gold manager Holmes: Don't worry about a gold and silver selloff |
| Five reasons food prices are headed much higher... Posted: 03 May 2011 12:46 AM PDT From Money Crashers: ... The increases in food prices have already taken effect and are not likely to improve in the near future. As of February 2011, the price of wheat has increased 83%, and the price of corn has doubled since one year earlier. As feed becomes more expensive, the cost of beef products is expected to increase by almost 40%, leading to much higher prices for any meat eaters out there. With unemployment remaining at high levels, these prices will further put a dent in our wallets. The situation is even more dire in poorer countries, as many of their citizens spend about 80% of their income on basic food products. As a result, food price increases can be... Read full article... More on food inflation: If you missed the rocket ride in silver, this could be your next big chance AGFLATION: Shocking food and commodity inflation could be coming soon "Dr. Doom" Roubini: Forget the financial crisis... This crisis could topple world governments |
| Posted: 03 May 2011 12:41 AM PDT Buying a House in Silver Buy Silver today, and a US vacation home could prove much cheaper – soon... FOR MOST OF US, there is a handful of surefire luxuries that signify true wealth – a few pearls of conspicuous consumption that really say you've made it, writes Jeff Clark, editor of Doug Casey's Big Gold newsletter. For me, this marker has always been a second home. My grandparents owned a vacation home, first in Arizona and then in Florida, when I was a kid. It was an annual highlight to travel there every year. But something seemed to happen on the way to my generation's version of the American dream. Of all the people I know that have a second home, only one acquired it through their own hard work and success. All the rest inherited them. These days – with high unemployment, shaky business conditions, desperate governments, weak real estate demand, and a suspect stock market, owning a vacation home is not even on the radar for most Americans. Paying their existing mortgage is the No.1 concern, something millions of homeowners still aren't able to do. So how can I suggest a way to buy a vacation home in these conditions? Because there are two trends, long in motion, that I believe will continue working in our favor. And it won't take long for them to reach a culmination point, I believe – allowing those of us with such a goal to see it realized. The chart below gives an eye-opening visual of my claim...  The chart shows how many ounces of silver have been needed to buy a median-priced home in the United States. In 1970, it took 14,067 ounces of silver to buy a median-priced US home ($23,000). By January 1980, it had dropped all the way to 1,603 ounces, based on silver's average price that month of $38.80. The ratio bottomed at 1,258 at silver's record high of $49.45 (London PM Fix) on January 21. (We can argue later how much of that spike was due to the Hunt Brothers hoarding of the metal, but I will point out that gold and silver peaked on the very same day, implying the same forces were influencing both). The ratio peaked in 1990 at 22,616 due to silver's average price that year of only $4.06, and was still at 18,365 in July 2006, the pinnacle of the real estate boom. However, look what happened to the ratio in the four years and three months since: it's dropped 66.1%, to 6,213. You may think the ratio won't fall further since it's already declined 69.2% in the last ten years. But I would point out that it collapsed 88.6% during the 1970s – and that was amid a 170% rise in home values! Only economists on government-laced Kool-Aid could fathom home prices rising that much over the next decade. For those of you who have a glass-half-full prognosis for the near future of real estate, I'd like to challenge an assumption you may be making; namely, that real estate prices rise in an inflationary environment. While the massive amount of quantitative easing and buying of mortgage-backed securities will likely put a floor under prices, it's the black swan of rising interest rates that could derail any significant recovery. Once rates start climbing, home-buying will become more unaffordable, keeping demand low, especially when the starting point is a million-plus hangover of vacant houses. And if mortgage rates return to the 12-14% levels we saw in the last big inflationary period of the early '80s (they peaked at 18% in 1982), real estate prices aren't going anywhere but down in real terms. They may rise in nominal Dollars, but after accounting for inflation, they'll still lose ground. Your half-full glass might not get filled for a long time. Hard assets, in contrast, are rising thanks to the amount of money being created from nothing and thrown at our problems. That volume of money right now is unprecedented in history, so inflation is a when question, not an if one. This process can and will result in a devalued currency unit, and a direct beneficiary of that is rising precious metal prices. In real terms, real estate will go down, precious metals will go up. It's interesting to look at this trend with gold, but it's absolutely fascinating when you plug in the numbers for silver. Not only may silver outperform gold before this is all over, but silver is more "affordable" to the masses. All this adds up to one thing: the number of ounces of silver to buy a median-priced home at some point in the near future will likely fall below 2,000. And given the unrelenting abuse to fiat currencies, it's very possible it could hit a measly 1,000 ounces. Now that's affordable. The fine print, of course, is that you actually Buy Silver now, and then sell when the Silver Price is high. You'll also need to pay the tax on your gains from another source. But I would argue that even a modest budget could come up with a few extra ounces to offset the tax bill. Think silver is too volatile to use as a savings vehicle? The price fluctuates, no doubt, but ask yourself this: if you were to put ten grand into a savings account and another ten into silver, which asset will have more purchasing power five years from now? Even with the savings account earning interest, I believe you'd be able to purchase much more with the stash of silver when you go to spend the proceeds. Doug Casey is insistent real estate hasn't bottomed because we're on the cusp of a depression. I'm convinced the Silver Price won't be stopping when it hits $50. If we're right about these trends, that million-Dollar vacation home you spotted on Nag's Head five years ago could be had for less than 2,000 ounces of silver. Jeff Clark, 08 Feb '11 JEFF CLARK is editor and lead writer of BIG GOLD, the monthly gold-investment newsletter from Doug Casey's Casey Research. Having worked on his family's gold claims in California and Arizona, and analyzing the big trends in gold's bull market, Jeff and his team aim to highlight safe and profitable ways for the prudent investor to capitalize on today's long-term rise. |
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