I think Soros sees this as his crowning achievement - destroying the currency of the world’s largest economy.
“Also any potential Republican candidate contemplating running for President must forcefully and without hesitation speak out candidly in the bluntest language possible about the future and the devastating action of Obama and the Democrats, all the while doing so without fear of what may be said about him or her in retaliation.”
I hate to say it but the only person doing that right now is Donald Trump.
Is silver ever gonna take a correction/consolidation breather again? I’m beginning to wonder. It blew past $30 and now has blown past $40 and I still see no signs of a letup. I want to buy more physical to add to my long position but hate buying on such a wild upswing. Perhaps if the Fed gives no indication of starting a QE3 after the QE2 is suppose to quit in June, maybe that will cause silver prices to stumble and give me a chance to buy more then. On the other hand, who knows what the price will be by the end of June? A drop back to $40 may be a significant downward correction by then. Sheez! Any thoughts by more seasoned metals investors are always appreciated.
The ostrich-like approach of the Obama administration and the Fed to these issues cannot continue much longer.
I give five to one odds they do.
Earth calling BernekeIdiot and “TurboTax” taxcheat Geithner..... =.=
It is amazing how few people understand gold, including this idiot, who being a New York banker apparently has lost sight of all sense of the fundamentals of an economy, in particular the cost of production. Gold, being a hard to produce commodity of some intrinsic industrial value has a fundamental value the is dependent upon the cost of service, labor, and other commodities that make up that production cost. So, price increases averaged over some period of time reflect increased price levels, i.e. inflation, which affect all factors of production (an old term that our paper chasing elite have long ceased to use).
This fundamental price, the cost of production is based upon hard realities. Now onto that base price is also built premiums based upon perceptions of currency risk (sovereign debt default or further inflationary pressures indicated by the rate of printing money which is indicated by the amount by which market interest rates lie below what are perceived to be natural interest rates that provide a reasonable return on capital). We have seen this before. The fundamental cost of a house is the economic value of the land + labor and materials to build the house. Our paper chasers on wall street have been willing to multiply that value by a large multiple, and when that multiplier began collapsing back towards levels that buyers with credit based upon real earning could actually pay, it began taking our whole credit system with it.
But Obama and the media are now telling me everything is OK with our economy and we’re in full recovery, there is nothing to see and that I should move on...... lol
That chart's been showing up a lot lately, and I was wondering why it only tracked commodities and Fed purchases for two years. Here's the comparison going back four decades:
--apparently the 'marekts' don't really have anything to do with Fed purchases after all.