Silvernuts....the silver market knew of this today and some/much of the effects has already taken place. Still, a selloff Sunday night into Monday morning, followed by a big reversal back up Monday could well be playing right into the hands of waiting buyers.
Silver reached $49.18 this morning before falling to as low as $47.51 in the afternoon Globex. The close at 5:15 EDT was near $48. No margin hike will stop the physical cash market, only slow it down for a bit. Same will be true when interest rates are eventually forced up in small increments, which will only stall G&S, not stop it from it's destiny.
BOTTOM LINE: As long as the FED is committed to QE mandates, G&S will be forced up. The Bernank says he wants to support a strong dollar, then proceeds to undermine it with hyper monetization. He is doing as told and insulting the intelligence of all.
***WEEKEND READING***
Jim Willie's latest [4/27/11] at www.goldseek.com
Martin Armstrong's 3 recent pieces at www.martinarmstrong.org
Read the "Turd" twice/day [Along the Watchtower] www.tfmetalsreport.blogspot.com
And if you really need a shot of sensationalism in terms of G&S price, read Goldrunner's piece today "Gold on Track to Reach $1860-$1920 by Mid Year" at www.goldseek.com
We are talking 4 hours of reading, so you will need a six-pack & some pretzels [or] bottle of wine & some cheese. Do NOT mix either with anti-depressants taken for the rape of the JPM sector....if you do, our sisk not being around to see the mother of all coils get released.......pic
