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A Stunning Surprise in The Silver Market

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  • Would You Rather Have A Dollar In Savings That Is Being Diluted By The Day Or An Ounce They Cannot Dilute?
October 21, 2013 8:12 am est

May Health Wealth And Success Be Yours!

 

On to the business of protecting your wealth…

Well that didn’t take long now did it? U.S. debt jumps a record $328 billion in one day — tops $17 trillion for first time ever – U.S. debt jumped more than $300 billion Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed last week. Debt now equals $17.075 trillion, according to figures posted on-line by the Treasury Department on Friday.

Read More Here

Buckle up Friends: Here comes the economic data That’s right. With the debt ceiling behind us, our focus turns to earnings and the jobs report (to be released Tuesday)

The top story and the start of earnings reports is Goldman Shares Decline as Revenue Falls – worst since the financial crisis Do I sense a taxpayer bailout on the way?

Friends, Don’t Leave Your Money in the Bank Without Reading This First  

If you took the time to watch the video I sent last week from Maloney like everyone else seemed to – It hit the web with a bang. If you didn’t see it, be sure to watch it HERE. If you did see it and it struck some nerve cords with you, then look at what some influential bloggers have been saying about it HERE

Then and only then, you might understand why this Gallup poll was released and found Government Corruption Viewed as Pervasive Worldwide and Trust in Government Nears Record Low, But Most Federal Agencies Are Viewed Favorably it would seem as though one study was done from Gallup and another one done by a government agency.

Does it really matter? I mean at the end of they day do you trust in what they say? Similar to the Central Banks… do what they do, not what they say.

In fact, According to Marc Faber this morning… The Fed could up QE to $1 trillion a month and in the aftermath of the debt debate, Debt Ceiling Delusion Awakens the Silver Bull.

It seems to me with the lack of trust and confidence they creating… everything that they want to happen is the exact opposite – As noted so many times previously, the system will collapse, it needs to in order to be able to reset the system and hard assets will soar in price and in value – We just can’t give you the exact time, but it will happen and we are getting closer and closer to that time.

VIP: Here is something I’d like you to ponder for you folks sitting on the sidelines wonder when to buy silver and gold:

If you bought today at $22 and it just stayed range bound for 3 months or even 6 months before a major launch, would that frustrate you and get you mad?

Think of it this way… You are taking your US dollars that are getting weaker and weaker by the day and buying something that has a 3,000 year track record of maintaining purchasing power –

Don’t forget, the FED is still creating $85 Billion per month every month… How much silver and gold are being created every month? Obviously the dollar is being diluted by the day and that is in essence what gives the precious metals its staying power!

Allow me to assist you in understanding these ever changing and challenging financial markets and more importantly, how you can profit on the upside potential and protect yourself from the downside risks….

Now, onto the breaking news that matters…

Billionaire Eric Sprott – Stunning Surprise In The Silver Market – It might be a little early for me to say that because as gold has been restricted, that number might even be well above that (total of 6,000 tons of silver).  In the first 8 months there were something like 4,000 tons (already consumed), so we are just extrapolating that trend, but the trend was gaining strength as the year went on.

But when you (as India) buy an extra 4,000 tons of silver in a year, you are buying an extra 17% of the (entire global) market.  So we have a new entrant into the (silver) market who takes down 17% of the supply, and the price goes down.  It’s the same analogy as China buying gold.  They (China) buy 25% more of the (entire global) market and the price (of gold) goes down.

Those things don’t hold together.  Logically this should not happen (the price of silver going down).  So, I’m very optimistic on silver.  The US Mint silver sales have just been booming here.  They are still 50/1 in terms of the physical relationship to gold at the US Mint.  We (only) produce 11-times more silver (than gold).  We (only) have about 3-times more silver (available) for investment, and yet investors, via the (US) Mint, are buying it at a 50/1 ratio to gold.  That cannot persist too long without the price of silver going up (substantially).”

Read More Here

How To Survive The Coming Financial Chaos In The US – This is not a pretty picture.  Most of the major economies in the world are insolvent, and have no solution except to print even more money.  But this is no solution because you don’t solve a debt problem by adding even more unmanageable debt to the balance sheet.

All of this leads us to gold and silver.  In my view the real move in the metals is now starting.  The collapse of many major currencies, including the dollar, euro, and the yen, will be directly reflected in the value of the precious metals over the coming year.

The debt ceiling uncertainties have only delayed the autumn rally in gold and silver, but I now believe the metals are off to the races.  2014 will be a very good year for gold and silver and that’s just the beginning.  But 2014 won’t be a good year for the world, and that’s why it’s so important to preserve wealth by holding physical gold and silver and storing it outside of the banking system.  This will help people survive the coming financial chaos.”

Read More Here

Don’t Miss Out on These Important Charts – The expectation is for gold to advance by more than 50% as in 2006-2008, and more than 80% as in 2008-2011 during this next ‘leg up’, because of the depth of the current pullback.  Because of blatant manipulation of the gold price by large traders dumping oversized lumps of futures contracts during hours when trading is usually sparse; the price of gold is starting this next rally below its normal starting point.   This is likely to cause the price to act in slingshot fashion, and may very well surprise a lot of people.

The US debt ceiling has just been pushed upward for the 79th  time since  1960, and right after the last raise in 2011, the price of gold rose +17% between August 1st ($1620), and August 22nd ($1898) – that was +17% in just three weeks!   A similar reaction by gold at this time could result in price rising quickly from $1281 to $1498.

Here is the gold chart that records the beginning of the current bull market, along with three upside breakouts and the expectation for the next breakout, marked by arrows.

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Gold only has one way to go, and that’s up – Demand from China is “unstoppable” and Australia will be playing “catch up” to deal with a “supply problem” for years to come. Physical gold supply hasn’t been able to keep up with “sensational demand” which is “led by China and followed by India”. China’s growing middle class and urbanization will see growth continue for several decades to come.

Read More Here

Also Read Asian Gold Demand Seen Surging by HSBC on Elevated Inflation

Higher Gold Prices and Coin Sales Point to Growing Gold Rush – The reasons?

• The realization that the government deal simply “kicks the can” down the road yet again. Under the terms of the Senate deal, the government will only be funded through Jan. 15 and the debt ceiling debate comes up again Feb. 7

• Chinese credit rating agency Dagong Global Credit Rating trimmed its rating of the U.S. one notch to A- from A. The agency said the agreement in Washington does not defuse worries about the U.S deficit or improve the country’s ability to repay in the long term

• The government shutdown shaved a half-percentage point off U.S. Q4 GDP and also delayed a number of key economic data reports. That makes it highly likely the Federal Reserve will pause on any tapering plans until at least late in Q1 of 2014

• Heavy short covering

• A lower U.S. dollar index.

All this is a sign of how valuable investing in gold is when the U.S. government’s budget battles spill over into markets – which will continue to happen as Congress “kicks the can down the road.”

Read More Here