Another Winner!

153
Mon, Jul 18, 2011 - 10:29am

I've got the re-crossing of $40 silver at about 3:09 EDT last night. Someone just won another autographed yellow hat. But who? I have no idea, frankly. I know someone out there in TurdLand has a spreadsheet of all the picks. Please post the winner in the comments section of this blog.

Our precious precious metals are sure looking fine this morning. Copper, crude and the grains are all down so it is clear that the world is looking at the PMs as safe haven plays...which they are. It's nice, too, to see that silver has shrugged off the "commodity" tag and is soaring alongside gold. Look for this to continue.

Now that silver is back above $40, look for the big money that left the pit back in May to come pouring back in. Not right away but in stages. IF silver can hold its position today and close above $40, the stages will be set for a run toward 42-42.50. It may briefly pause there before continuing higher. A close through $43 will force more dollars off of the sidelines and back into silver. Like April, we will likely see an accelerating move toward 48 and even 50. Do not think for a minute that the Forces of Darkness won't try everything in their power to paint a double-top at/near $50. Be very careful as price approaches that level. However, that's a topic for another day. For today, just enjoy the fact that silver is back above $40 and looks poised to mount another run toward 50 and...eventually...beyond.

Of course, gold looks fabulous, too. Hanging in there just above $1600 as I type. The simple fact that raiding and profit-taking at the psychologically significant sixteen hundred level hasn't occurred is interesting. If gold stays above 1600 for another hour or so, you may see buyers gain confidence that a quick drop will not be forthcoming. IF this happens, gold should skip away toward 1610. In either event, this is big news! Gold above 1600 is headline-grabbing material and it is sure to attract attention. It will help provide bids for the miners and it will provide spillover strength into the silver pit. A virtuous cycle, so to speak. Let's watch and see.

Have a great day. Rejoice and be happy. We are winning! TF

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daveyboy
Jul 18, 2011 - 4:53pm

I want to hold my hands up as

I want to hold my hands up as I got this wrong.

However I also want to express my alarm that I got it so wrong, So wrong in terms of just how quickly things are moving now. I assumed they would pull some kind of stunt, that they could pull some kind of short term stunt of holding back on their money printing.

The debt is 1.5 quadrillion!

When the hell are we going to throw out our governments and demand that this fraudulent debt is not to be paid the people.

Let's start again, a non debt backed currency

I apologise for swearing but the people controlling this game are utter evil psychopathic bastards!!!

You are right, this was always going to rise because the elite of this world have their hands in all metals now.

SilverTree
Jul 18, 2011 - 4:46pm

hIPPO

Video unavailable
bullwhip29
Jul 18, 2011 - 4:44pm
buzlightening
Jul 18, 2011 - 4:44pm

dead head feds out of spit wad paper fiat bullets.

Til the debt ceiling is raised, the easy hot money dead heads handed over to 18 primary dealer skunks works factories is null. It will be all the stinkin primary dealers can do to float world mkts and stave off a panic exit from equities. Just more paper drenched in ether waiting for the EUnion to light up. trichet will be complaining about the lighter somebody sold him. UT has a great burn center.

I felt the circle jerking bankster fraudster go rounds ran out of powder when the PM's buster out in an OEX week. Very telling. The financial price fixing juggling clowns will have to wait & put on an other illusion smoke screen at much higher GOLD prices. Where it takes silver I couldn't tell you but a break out in Aug above 50 is unlikely. Oct new budget and debt rollovers will torch the freak show clowns in CONgress/SINate. By then, the dead head feds will have cloven hoofs full once again as now and SILVER WILL SEE A BREAK OUT LIKE NONE OTHER INTO THE YEAR END.

¤
Jul 18, 2011 - 4:43pm

Harry Dent

Wasn't he the guy in Batman who was supposed to become the White Knight?

Where is he, we need him. Not the economist guy.

Ahhh...just came to me...Harvey dent.

Either way, we need a White Knight.

TheGoodDoctor
Jul 18, 2011 - 4:42pm

@Eric Original Dow 30k maybe

@Eric Original Dow 30k maybe when gold is 30k!

stoneeh
Jul 18, 2011 - 4:42pm

Oh, and in the spirit of

Oh, and in the spirit of silver'S bullishness & Tesla's cat rescue awesomeness:

Edit: Sorry SilverTree, read that after I posted. But are you sure you would not just like

MOAR?

- Markus

brokeboater
Jul 18, 2011 - 4:41pm

Sanchez

>> And when you actually get to pay off your debt, they are still in control of that asset thru taxes and regulations( more taxes, registration, property tax, etc.

So true. Before I bailed out of the city I was paying $9K a year in property taxes, and right about the same in insurance. The only way I could figure out how to get the jackles off my back was to move to the country. Yeah, so now I live in an old trailer. But, it's on 10 beautiful secluded acres. My taxes are $350 per year. My insurance plan is if it burns down I'll buy another one. It's not everyone's cup of tea, but it works for me. A lot of it has to do with just how determined you are to get out from underneath the control of "da man. And the other part has to do with can you afford not to work.

Eric Original
Jul 18, 2011 - 4:40pm

Silvertree

I'm a dog person.

Find us a picture of a snake eating a cat, then you'll be my hero.

¤
Jul 18, 2011 - 4:40pm

Perfect Storm...

...for a lot of negative stuff to gel all at once. You can't help but scroll down ZeroHedge right now and not come away with the feeling that this is about to come to a head.

All of us on here are very aware of why things are screwed up and whats going to happen. Yet in spite of that, we all have a blind spot to something thats right in front of us thats going to catch us by suprise somewhat.

What might that blindspot be? Any idea's of what your Black Swan pick is?

Mine is pretty much the unscripted, stressed out moment where someone slips verbally or they make the next gigantic, wrong market move in a very irreversible way.

Ron Paul calling out and blaming the secret banking system for all of this mess doesn't get much more 5 Alarm then that.

How in God's name does a U.S. Presidential Candidate not get a lot of MSM attention with a campaign utterance like that??? It's not like it's the first time he's said it.

It's only going to take one big name MSM journalist to expose the Cartel and to put their reputation (life?) on the line in a relentless way.

I honestly can't think of anyone who might do just that.

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