Silver surges 5 percent on dollar and gold at record

reuters ^ | 4/25/2011 | Rujun Shen

[ajwharton]

No one could have seen that coming!

[Concho]

What is the chatter that Obama moved $83 Billion to a Honduras private account, $72 Billion was in USD and US securites and $15 Billion was in Gold and Silver Bullion? It is being reported by Interpol and Russian intelligence.....anyone have any info on this? All you have to do is Google it, there are lots of reports on it.

[Concho]

http://www.bullionbullscanada.com/index.php?option=com_kunena&func=view&id=7879&catid=11&Itemid=122

[Errant]

It’s just the advance for the new book “he’s” writing ... ;) ;)

[sten]

any reputable links?

[bushpilot1]

Gold will go to $20,000 an ounce. Told the wife in 2001 it will go to 1500. She preferred cash..in a security box. She is there and I am here.

[Concho]

There are a number of links, search it. NY Spot opener has already dropped $1.50.

[Presbyterian Reporter]

It will not hurt to remind your friends who are memory deficient that the last time Silver reached $50.35 was on January 18, 1980 and the DEMOCRAT President was Jimmy Carter.

Raging inflation and incompetent Presidents are strongly correlated.

[babble-on]

What did silver do in 1980 after hitting $50/oz?

[bert]

The Hunt Brothers attempted to corner the silver market. Controlling enough to cause the price to spike and sell at the top was the plan.

I don’t think they succeeded. The current market is broader and different conditions prevail.

[phi11yguy19]

What did silver do in 1980 after hitting $50/oz?

You mean after the CFTC pushed COMEX to freeze all buying orders and only accept liquidations? after Volcker pushed banks to stop loaning money to silver speculators? at a time when it was still illegal to own gold?

After all that intervention, it went the only place it could - down. Yes, government CAN inflate the hot air balloon (FRN$) for a certain period of time, but eventually, gravity

[2001convSVT]

And China and India are buying like mad!

[phi11yguy19]

nor do i think they were trying to “corner” anything. they moved their oil money into silver when oil was getting killed. nothing illegal about that.

[Travis McGee]

When gold is at 20,000/oz, there will be blood in the streets and anarchy, or martial law and tyranny, or both.

[DCBryan1]

Hmmmmm....all time highs on silver and gold eh? I'm thinking of selling half of my 90% silver coins and 99.999 percent pure englehard trading bars....that I bought in the 80s at $300.00 ea. methinks.

HOWEVER wife says to keep it all, and increase allocations of toilet paper and bullets.

[bert]

You may be right. I have no details. What ever their intent, it was just business

[phi11yguy19]

***”but eventually, gravity wins”

not sure why “wins” got chopped from my last post

[Free Vulcan]

Sounds like a short squeeze. Silver is parabolic - watch out speculators.

[Atlas Sneezed]

Please define “parabolic” (I know what it means mathematically, but I don’t see an increasing rate of increase as I do on an actual parabola.)

I suspect many people use the term to mean (going up surprisingly, and I fear it might go down, as opposed to an objective definition that can actually be evaluated, and assessed against past events).