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Silver Prices Are About to Fall

A number of technical analysts including Prechter have made similar predictions, so it would not surprise me if silver did go down a bit. This pop in the price of the dollar is predicated on the theory that people will rush to buy dollars for safety if the market starts to tank. However, since the advent of the web, most people are more knowledgeable about markets. I don't know why anyone would want to buy dollars in the event of a market collapse. Many of the same analysts who are predicting a pop in the dollar are also predicting depression of a magnitude never before seen. They are also predicting the market may start collapsing any day now. If the dollar does in fact collapse from 75-76 to 42-44 it would seem to me that it would be a good idea to back the truck up--in the event silver does drop a bit. In fact, I think it would be wise to have 50% or more of a persons assets in commodities especially silver and gold. I remember the depression vividly. Banks failed. People lost their savings. Stocks became worthless. Even though corporations promised payment in gold of a certain fineness, the bond became worthless. The bonds of foreign countries became worthless. Only gold and silver kept or increase their value. None of this propaganda served up to me every day by smiling pundits on CNBC & elsewhere trying to scam me out of my property is going to change my mind. Let the price of silver and gold drop, I will keep mine and maybe buy more. I do not gamble. You scammed me in the past. You ran the market up, scammed me into buying, then shorted causing me to lose big time, but you are not going to do it this time. Screw you.

India's Gold Grab Boosts Metal's Price

Heh, heh, heh. That IMF really pilled one over on India. Convinced them to take that disgusting barbaric relic off its hand. Next, maybe they can convince China to take the other half. Pretty soon, no nation will have any gold and they can use the vaults and storage space to store beanie babies or some other purpose that is really important. Everybody knows --that is to say they have been convinced by the government--that gold is no longer fashionable. Nobody wants that old antique stuff-not Americans anyway.. All the other nations have sold some or maybe most of their gold. It must be embarrassing for the US to admit the have any of the filthy stuff. especially when you consider the US probably doesn't have hardly any left since they have leased much --if not most--of it out to their banker buddies. It would be a mistake for public office holders to admit their campaign contributors got it; It would be better if they just told people that they sold it for around $300 an ounce ---just like Gordon Brown--because it was patriotic and in the best interests of the people to do so. Of course, they wouldn't have to tell anyone the money they got from the "sale" was used for foreign aid or such other essential purpose. It is surprising how many people don't know that "campaign contributions" do not have to be spent on election campaigns, but may be used for personal needs by those standing for election to public office. .. Since most countries have convinced their inhabitants that paper money is superior to gold and silver, I doubt that any one would give it more than a fleeting thought. Now, if the price of gold gets to about $5000 an ounce that would stimulate a few brain cells wouldn't it.? For years, my brother-in-law has repeatedly taken great pleasure in asking me if I thought gold would ever reach $850 again. It seems one of his friends bought near the top when gold topped a few years ago. He was certain, the man would have to take a huge loss. I think he thought I would have to take a big loss too because I have gobs of the stuff. I am old and lived through the 30's depression. I like old stuff--I don't care if it is fashionable or not. In fact, I have so much of the stuff, I have become quite wealthy. I think that makes him uncomfortable because he is highly competitive and does not like to be bested. I can hardly wait until the end of the year when gold gets to $1300. Just imagine how high it will go when people panic into buying gold. $5000? $10000? Who knows. I haven't seen my brother-in-law since last autumn. His wife told me his IRA was down about 40% then. I wonder how much it was down in March. I also wonder how much it will be down 2 years from now. It will be interesting to see if wave C down does start on Nov. 9.

Gold Is Not in a Bull Market

I started buying gold coins in the early 50's. I thought the sales person was trying to rip me off when he told me the 1 oz St Gaudens coin I wanted to buy would cost about $50. Gold was $35 an ounce at that time. The sales person told me it cost so much because it was bright and uncirculated.. You could not buy bullion coins at that time because it was illegal, but there was no law against collecting gold or silver coins. That was the first coin I bought. I can't remember the exact amount I paid, but it was a little over $50. I also cashed my paycheck at the bank and requested the cashier to give me part payment in silver dollars. He kept a bag of new silver coins on the counter. Since then, I have been buying as much gold and silver as I could afford. I now have a large hoard. My wife says we have too much; but I don't think you can ever have too much.

My aunt was a stockbroker, so I also bought stock even though I know the stock market is rigged. I don't want to tell you how much I have lost in the stock market but gold and silver coins have made my retirement secure.

I think the author of the above article makes many valid points. He obviously is very well informed. I printed out the article and have put it in my file for future reference. There is no question in my mind that gold and silver will go up and down in price, but I will continue to buy and hold. I have never sold any gold and silver coins. Maybe I should have sold because it has tanked on several occasions. You would be surprised to know how it has grown in value over the years. You may not get rich quick, but there is nothing wrong with getting rich slowly.

Largest Gold Reserves by Country

I believe I read somewhere that "gold equivalents" are officially reported as gold owned by the US. I am not sure what "gold equivalents" includes, but I assume it means such things as gold which has been "leased" to bullion banks, etc. Maybe someone can enlighten me. Before I retired about 20 years ago, I was active in politics. In politics a person must do favors for those who support him. So, I have considerable doubts that you would find much physical gold in Fort Knox that The US actually owns. Hence, an audit could cause considerable embarrassment in Washington.

Significant Insider Buying at Visa and Nevada Gold

ANV. If the director Robert Mackay Buchan is the same person as the Robert M. Buchan who was the former CEO of Kinross Gold, I wouldn't touch the stock with a 10 foot pole. He has the unique talent of converting large shareholder equity into small shareholder equity. He left Kinross after a shareholder suit was filed against him by shareholders in former Russian provinces and also after the class action suit we was filed in the US. He also run PMU into the ground as well as other former gold corporations. The class action suit against him and Kinross has been settled subject to approval of the court Jan 29. 2009. See KINAM GOLD to see how preferred shareholders were screwed. Case was filed as Brown vs Kinross Gold US District Court, Nevada.