Posted on 03/01/2012 1:17:23 PM PST by appeal2
David Morgan sits down and gives us an excellent post-mortem report of the Leap Day Metals Massacre. No, it wasn't little green aliens who have a fetish for the shiny metal that drove the price down yesterday, Leap Day 2012. Rather, it was the usual suspects who flooded the markets with sell orders that led to large losses for the day. It's indisputable that the paper silver and gold markets are dominated by certain non-profit sellers, whose main mission is to make the reserve currency look good. For that reason, when the traders see this series of events occurring, they will either step aside and wait until it's safe to go outside again, or they will pile on and extract easy profits.
This is why physical metals purchasers must buy on dips. The dips come often. With volatility on the rise, the dips will keep coming. Therefore, just be aware that prices will remain in a constant state of flux until a new economic system replaces the current failing one. There's really no other way for the individual to protect himself, except by staying out of the cross-fire. Keep your head down and your metals safe.
Let’s hope the “new economic system” does not include confiscation of privately owned gold.
That was a one trick pony. We are in a global world now. Todays reality of the international mobility of people would stagger the imagination of people in the 1930s. A long as india, china, and vietnam exist,,,, there will always be buyers for your physical gold. Any policy of confiscation would trigger an immediate, crazy, spike in the price. Only a lunatic would turn it in when they could smuggle it out,,
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