That Dow Record is Nice, But $3,000 Gold is Nicer: Rosenberg – Forget the Dow. If you really want to make some money, buy gold, says David Rosenberg. Gold is heading to $3,000 an ounce, the chief economist & strategist at investment firm Gluskin Sheff + Associates said Tuesday in a speech at a CFA Institute of Chicago conference.
Gold, Silver Forming Major Bottom: Market Technicians – After melting down for three weeks straight, gold and silver prices are oversold and finding support at nine-month lows thanks to short covering and bargain hunting — even as the U.S. dollar continues to strengthen. This suggests precious metals are forming a significant bottom, market technicians say. Meanwhile, traders await the February employment report due Friday to assess whether the Federal Reserve has reason to taper its aggressive monetary stimulus program, known as quantitative easing, or QE.
Hi Ho Silver: Making the Case for This Precious Metal With Casey Research: When the value of money begins to erode more seriously and inflation makes front-page headlines, and my nurse turns to precious metals to gain some semblance of lifestyle protection, what is she going to buy? If she can’t “afford” gold now, it won’t be any “cheaper” later. She’ll buy silver. And so will a lot of other panicked investors who don’t think they can “afford” gold and are watching their purchasing power relentlessly decline. It will drive prices higher. Perhaps wildly so. The message is crystal clear: if you don’t have a meaningful amount of silver bullion, buy more now!
So This is the system you have so much faith in? Millions left without money as RBS systems crash – The crash comes just months after a computer meltdown that left millions of customers unable to withdraw cash. People claimed that they had been left stranded, hungry and embarrassed as they were unable to access their own money and had their cards declined.
Don Coxe: “Central Banks Are Busy At Work Creating The Next Big Bull Market In Gold” – With respect to gold itself and calls for the end of the bull market, Don said that, “Faith is about values, and gold is the only [thing] that’s got a long-term record as being a store of value under all civilizations that we know of for the last 10,000 years. But the fact that there’s been this disappointment and despair now, does not mean that gold has lost it’s basic value. It’s simply that too many levered players were in it.”
Silver shortage Intensifying – When it comes to real physical “hold in your hand” metal, there is NO ONE selling. If no one is selling then how is it that the price could go down? …COMEX and LBMA! The paper markets, that’s how. Paper contracts that are “sold” with no Silver, no Gold backing them AND no intention of ever delivering have hit the markets to knock prices down. How do I know this? Take a look at the U.S. mint’s own numbers and actions. They are reporting record purchases and have already suspended deliveries twice so far this year. Why would they suspend deliveries? Because they don’t have enough “blanks” to press out to meet demand.
Sprott’s Ed Steer: Gold has basically become the de facto currency, de facto money. It’s always been money. Silver’s always been money. Gold’s always been money, and the fact that the central banks, especially some of the smaller central banks. You know, like Mexico and Afghanistan and all these places; smaller countries that are sort of beyond the Western sphere of influence of central banking. They’re buying this stuff up, and for very good reason.
Well, you know, the price, the shorting is what’s keeping the price down. J.P. Morgan’s short position is absolutely massive. It’s between 28,500 COMEX’s futures contracts, as of the last Commitment of Traders report. And as silver analyst Ted Butler has quoted and noted many times that if J.P. Morgan’s short position didn’t exist, the price of silver would be many orders of magnitude higher than it is today. And as he’s also said that the day that J.P. Morgan stops managing the silver price will be the day when manipulation ends, and I pretty much guarantee that we’ll see a silver price many magnitudes higher than the price that we have today. And just on inflation-based terms right now, it probably should be around $165 an ounce.