Posted on 04/24/2011 8:40:02 PM PDT by blam
Correction: London will be up in an hour or so.
(Where’d the night go?)
Here is the “change” promised 2 years later:
% chg.
Avg. retail price/gallon gas in U.S. +100.6%
Crude oil, European Brent (barrel) +127.7%
Crude oil, West TX Inter. (barrel) +180.0%
Gold: London (per troy oz.) +65.5%
Corn, No.2 yellow, Central IL +78.1%
Soybeans, No. 1 yellow, IL +42.3%
Sugar, cane, raw, world, lb. fob +164.7%
Unemployment rate, non-farm, overall +23.7%
Unemployment rate, blacks +25.4%
Number of unemployed +24.7%
Number of fed. employees, ex. military +2.2%
Real median household income (2008 v 2009) -0.7%
Number of food stamp recipients (curr = 10/10) +35.1%
Number of unemployment benefit recipients (curr = 12/10) +22.2%
Number of long-term unemployed +146.2%
Poverty rate, individuals (2008 v 2009) +8.3%
People in poverty in U.S. (2008 v 2009) +9.5%
Failed banks (curr = 2010 + 2011 to date) +17.1%
U.S. dollar versus Japanese yen exchange rate (This is even after the earthquake.) -5.6%
U.S. money supply, M1, in billions (curr = 12/10 prelim)
+18.4%
U.S. money supply, M2, in billions (curr = 12/10 prelim)
+6.7%
National debt, in trillions +34.4%
I can believe in it.
Silver appears to be poking through the 1980 high overseas tonight...
marker
Back then, it was an artificial high brought on by the Hunts, who were trying to corner the market. It crashed back down, eventually, but not before the biggest melt of silver *scrap* (some of it antique) that had been seen to that date.
This is different, but I have that uneasy feeling, since some people seem quite eager to trade silver for paper currency, still.
At this rate, people will eagerly accept any form of stable currency, such as SDRs.
As for that 1% holding metals quoted in the article, that must just be what can be tracked on the exchanges. Many folks have bags of silver coins they have held on to since the 70s, former jewelers, like us, have sheet, wire, casting grain, casting buttons, et al. No authority has a clue as to the individual holdings out there.
They probably didn't count Grilles.
I’d love a good retracement, I’d load up. It could drop 60% and still be up 11% from this time a year ago.
I’m still finding it too :-) I’ve found ~100 ounces worth over the last few years metal detecting.
Still waiting to find that MS 1893-S Morgan...
The writer said only 1% of Americans are in any precious metals at all.
Ours is all leftovers from a jewelry business that we ended in 1998, plus a lot of heavy sterling jewelry. I think a lot of it was $4-$8/oz. I don’t really recall, exactly. Ditto our gold, none bought at over $400 and all the jewelry is 18kt-23kt.
I’d buy at a 60% retracement, too. That likely means it won’t stay down long.
Isn't that kind of like saying my hole seems to keep getting deeper in spite of my continued digging?
Thanks. I saw that.
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