Easter holiday entertainment

Bill
I think Russell's call was superb and well timed. All around are signs of confused pundits and idiot commentators, all of whom recently arrived but of course having predicted the rise in gold and silver many years ago. All of whom are heartily agreed too that the USD is toast and the US economy screwed, but just can't say when exactly and are starting to ask for other opinion to debate the issues with. Very soon they will all have been predicting the recovery very probably, as QE takes the DOW higher yet.

For me, no debate, no change. The US is maintaining a steady heading in the direction of the toilet, but we may see a heartwarming dollar rally meantime, and don't expect that Nank et al will be rushing to pull the flush. No, seems to me that we should all sit back, relax and get ready to agree that everything has kinda squeaked under the gate and is now looking just a touch better. Charcoal on the barbie, chilled tinnies at the ready, just about primed for the next black swan, flying swiftly and of course stealthily - it's black after all - to put its beak squarely into our eyes. Might see some bigtime correction in the metals if so, but I guess I'll be a buyer.

I do not think that there will be confiscation, and personally, I am not ready to switch my gold into silver although the story is very strong. The reason is very simple - I think silver is too small and is in range of the same old stinkin' rule bending dishonesty which the US and UK have always come up with when the little silver piggy bank is no longer providing the price of dinner.

GS and JPM can keep their 4 or 5 dollar daily trading ranges in silver, I'll settle for the unstoppable momentum of the big fella, where once again I seem to hear the sound of engines being tested from time to time, and certainly stay away from the public holiday HFT outings organised for our benefit by the bankster frat.
Dave
more French than Sarko it seems

Dian Chu

Hi Bill
Like James Mc, I also occasionally read Ms Chu's drivel. On October 5 2010 she wrote as follows:
"Now that we've had a crash course on the history of sliver, it should not take long for one to realize that, in contrast to gold, there’s very little chance for silver to touch, let along surpass that all-time-high mark."
When she wrote six months ago, silver was a paltry $22 an ounce; now it's hovering just below $47. The phrase "about as wrong as a person can be" springs to mind. Alternatively, "bearish all the way up".
Best
Mike M

Hi Bill,
Hope you had a great Easter!
The divergence between the mining stks and underlying commodity seems to be reaching a record divergence. In silver, Silver Wheaton has totally fallen apart and is down 15% in 10 trading days while silver prices keep rising. I own silver personally but not easy to own in my fund; gold...pretty frustrating there as well. Goldcorp is only large cap miner to perform; the juniors have so much geopolitical risk attached that one needs to own 10-15 of them to offset the risk. I refuse to own GLD so I own PHYS in the fund and get to pay a premium for that..and event that vehicle trades inconsistently vs gold.
For experienced investors in the space to struggle making money in the miners is agonizingly frustrating but for new investors or those considering the space, you have to wonder if they conclude that based on the miners action, why bother with the aggravation?
To some extent, the surge in silver has almost become too explosive. the stocks act like they do not trust the move. Reminds me of energy stks when oil gets ahead of itself.
What a dud Barrick is...idiots go buy more copper.
Anthony

The heroes of hard money

Of course it is Helicopter Ben's unfailing commitment to a policy of easy money that has made all of this possible. But let's not underestimate Jeffrey Christian's contribution to our cause. It was at last year's CTFC hearing that "100-1" Christian treated us to the spectacle of a man who already had one foot in his mouth then managing to fit the other one in there too. After trying to explain that bullion banks short the metals to hedge an already short position, ol' Loose Lips Christian then spilled the beans about how the COMEX only has one real ounce of silver for ever 100 paper ounces traded. Silver was off to the races, nearly tripled in value, and has never looked back. Thanks, Jeff! :)

So everyone who owns precious metals or mining shares should thank their lucky stars that we have Ben Bernanke and Jeffrey Christian. With enemies like them, we don't need friends!
Regards,
Victor

Trying to understand

Hi again, Bill,
Trying to calm myself and understand this supposed long-PMs (?futures)/short-PM-shares hedgie trade pairing that's supposedly responsible for the >30% (sometime MUCH more than 30%) takedown of esp the junior mining shares since December, '10 full in the face of the biggest run so far of this PM bull market. If that were the case, then as gold and silver are skying, and shares are falling, why in the world when gold and silver are taken down $3.00 in less than 1 1/2 hours do the shares get taken down even more? Where's the pairing? Why aren't the shares suddenly taking off to the skies then while gold and silver are being taken down?? If this takedown were actually longs liquidating, which would have to include the hedgies to see that large a drop, then wouldn't that mean that they would take their profits and put them into the contrarian trade, which would be shares?? If not, then they are not trading as pairs!!
No, I don't believe it for a second. The takedown of gold and silver today was absolutely, ONCE AGAIN, paired with the takedown of the shares, and by the same criminals or under their auspices. It just disgusts me that the "technical" gold folks find it so hard for their egos to admit it's all simply manipulation...paper/electronic shorting...and that the shares are simply more of the same. Since the criminals in charge are not being able to fully control the physical market, they have resorted to attacking the shares to try to deaden the interest in the PMs. If not...show us the proof--name these hedgies and tell us who funds them and who gives them their marching orders. I say it's all one and the same group of arrogant above-the-law, criminal "elites" and their bankster gangsters that have been working for so long suppressing the prices of gold and silver while ripping off the working class and enriching themselves and their fellow banksters with our money and money created out of nothing the debit for which is stuck on our bill. And i see absolutely NO evidence to the contrary...
Jt