There's not much to report on the PM front. Still zooming away and making the top pickers look foolish. My guesstimate for this move in silver will be $50. Yes $50. Doesn't seem too far away now that we are trading at $36. $50 is a nice big round number that will continue to attract buyers. With enough bullishness, we might even overshoot to $60.
Lots of different sources reporting of tightness on the physical front. Personally, I don't know the veracity of that as I am not a bullion dealer. But looking at the charts intraday, every dip is aggressively being bought in silver. Pretty bullish to me. Times like these, waiting for a modest pullback will keep you waiting on the sidelines.
It almost feels like there will be a strong liftoff in prices soon that will make the recent advance look miniscule.
Sunday, March 13, 2011
Monday, February 7, 2011
Currency devaluation
Interesting thing happened to me today. Every Monday at my job, I receive a weeks worth of daily parking stickers that allow me to park all day in the company garage without paying. All I have to do is adhere the yellow parking sticker to the back of the ticket that I pick up from the parking booth and give it to the attendant at the end of the work day. I've been squirreling away extra stickers whenever I don't use them b/c I leave late on some days and there is no attendant to take the ticket. I figure I can save it for a rainy day when I forget to pick up new ones for the week or whatever.
Well, today happened to be the beginning of the week which is when I pick up my weekly stash of tickets from the receptionist. Lo and behold, the damn stickers are now GREEN! Overnight, my old yellow tickets became worthless!! What the hell! I felt like the rug was pulled from under me.
I think this is the same feeling people will get when they realize that their hard earned savings will not be worth anything due to inflation/currency devaluation. One day they will wake up feeling stunned that something like this happened overnight. I believe that this is a real possibility in our future.
So beware and protect yourself!
Well, today happened to be the beginning of the week which is when I pick up my weekly stash of tickets from the receptionist. Lo and behold, the damn stickers are now GREEN! Overnight, my old yellow tickets became worthless!! What the hell! I felt like the rug was pulled from under me.
I think this is the same feeling people will get when they realize that their hard earned savings will not be worth anything due to inflation/currency devaluation. One day they will wake up feeling stunned that something like this happened overnight. I believe that this is a real possibility in our future.
So beware and protect yourself!
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