Archive for August, 2008
Silver Will Not Spike To $50
Ok, so Silver will not Spike to $50. In fact today it just crashed from $15 to $12, a big 20% drop in just 12 hours of time frame. And here is why it will not spike to $50:
http://www.themoneyblogs.com/CT/my.blog/silver-will-not-spike-to-50.html
Because it will roar past $300, yes, $300. After all, $300 is just about the M3 adjusted price of $50 in 1980.
History shows otherwise
Smart investors and asset managers will seek refuge in the only truly global and debt-free currency: Gold. Investors are gradually waking up to the fact that all currencies are backed only by the issuing government’s ability to tax its own citizens – and by unsubstantiated confidence that they won’t fail. History shows otherwise.
http://www.minyanville.com/articles/gold-metals-silver-currency/index/a/18493
Monthly Gold from 1970s
Rest assured that the bull market is intact (www.jsmineset.com):6440_charts_for_8-11-2008_log_chart_of_gold_monthly
Pickup @ low of this correction and the next wave is yours to ride!
The C Wave in the making
First look back at history, Gold 1967-1973
1972-1979, pay attention to the 45% pull back from 1975-1976 (18 month), after soaring from $35 to $200 in about 5 years (compare with current move of $250 to $1000)
After that we all know what happened, gold soared to $850 from there.
So are we expecting a pull back to the $700 area before it challenges $2500?
“Systemic Financial Meltdown”
“I’m not trying to be shocking to anyone, but let’s face it,” said Mr. Sprott, chief executive officer of Sprott Inc. “When Bear Stearns goes down, Freddie and Fannie go down, and IndyMac goes broke, we have major issues out there.”
http://www.theglobeandmail.com/servlet/story/LAC.20080801.RSPROTT01/TPStory/Business
