Gold was romping today until it was smacked lower in the thinly traded late day market. Silver was up sharply.
I posted some thoughts intraday on gold and silver which you might wish to scroll down to review if you have not yet seen them.
I think silver, if it can break up through 50 and hold it, can run to 80 to 100 in a shorter period of time than most might imagine. However, if the equity markets fall out of bed, silver will get beaten and badly. So it is a volatile bet, higher reward with higher risk. And yet it has been one of my best long term trades.
There are troubles ahead. Dark times and great times are coming.
Gold is being bought by the developing world's central banks. This will continue to put a bid under it until the world's reserve currency issues are resolved. And don't hold your breath for that one, as the Anglo-American banking cartel are fighting and delaying the most widely desired solution, a broader basket of currencies including gold and silver, tooth and nail.
The Anglo-American banking cartel is hanging on to their positional strength with some vigor. They are supplying the world's banking system cheap dollars in the hopes of getting them further hooked, and dependent on the buck.
This is why I think M3 was discontinued, and why it is so hard to estimate now. Benny is flooding the world with eurodollars. And like domestic bank reserves, it really is not showing up in the more immediate money supply figures, but is being held off shore in vaults. Read Full Story