Silver To $30 In 18 Days: James Turk

Once again I have a lot of stories for you today. The first one is from earlier this week that was sent to me by Roy Stephens. It's another Ambrose Evans-Pritchard offering, this one headlined "German boom creates ECB policy nightmare as south lags". Blistering growth in Germany is aggravating the growing gap between the eurozone's North and South and may force the European Central Bank to tighten monetary policy long before the high-debt states are ready, Standard & Poor's has warned. This is a short read... and well worth your time. The link is here.

Also from Roy Stephens is this second Ambrose Evans-Pritchard offering from The Telegraph that was filed late last night. The headline from this story reads "EU 'haircut' plans rattle bondholders". Investors face large potential losses on eurozone debt under German plans likely to win backing from EU leaders on Friday – risking a boycott of Greek, Irish, and Portuguese bonds. This story is very much related to the previous AE-P story... and the link is here.

Here's another story from The Telegraph. This one is by their economics editor, Philip Aldrick. The headline reads "Pimco likens US to 'Ponzi' scheme". US authorities are operating a "brazen" Ponzi scheme in government debt by buying trillions of dollars of bonds to stimulate the economy, according to Bill Gross, managing director of Pimco, the world's biggest bond house. This is, of course, the absolute truth... and it's about time that Bill spoke up about it. The link to the story, which was sent to me courtesy of Nick Laird, is here.

My next offering today is from reader Scott Pluschau and is posted over at cnbc.com. The headline reads "Insider Selling volume at Highest Level Ever Tracked". According to Alan Newman over at crosscurrents.com, top executives of the largest companies in three of the most important leading sectors of the market are selling their stock at an eye-popping sell to buy ratio of 3,177 to one. The link is here.

My last non-precious metal story today is an op-ed piece from Mark Gilbert, Bloomberg's London bureau chief. In a similar vein to what Bill Gross said in an earlier story... Gilbert tees off on 'Helicopter' Ben with a column headlined "Insane Fed Should Beware Unquantifiable Outcomes". Gilbert says... "When the law of unintended consequences kicks in, the nasty surprise is, almost by definition, unforeseen and unpredictable. I struggle to see how this movie won’t end badly." I thank Australian reader Wesley Legrand for sending me the story... and the link is here.

My first of many precious metal-related stories today was sent to me by reader U.D. It's written by Nick Barisheff over at bmgbullion.com. It's a longish read that bears the headline "Gold vs. Bonds". There are a lot of great graphs... and it's extremely well written. So, if you have ten minutes, it's worth your time. It's posted over at the goldseek.com website... and the link is here.

The next story is from yesterday's edition of The Wall Street Journal. The headline pretty much says it all... and reads "Gold vs. the Fed: The Record is Clear". Writer Charles W. Kadlec points out that "There were no world-wide financial crises of major magnitude during the Bretton Woods era from 1947 to 1971." The story, which is subscriber protected, is printed in the clear in this GATA release... and the link is here.

Nick Laird of sharelynx.com fame, sent me the following story yesterday. It's a John Embry interview that's posted over at the mineweb.com website. John says that the world remains in a financial bind, the likes of which it has probably never seen... and those people calling for corrections or bubbles in the gold market, are flat out wrong. The headline reads "Current scenario suggesting much higher gold prices in the next 12 months - Embry". It will take you about three minutes to run through this... and the link is here.

Well, the story about the silver lawsuit against JPMorgan and HSBC made it into Forbes yesterday. This story has a lot more detail than any of the stories that I posted in my Thursday column, so I consider it a must read. The headline reads "Traders Accuse HSBC, JPMorgan of Silver Manipulation". If you get the feeling, as you read through this article, that you've heard this all before... you would be right about that. I've been writing about it since day one right here in this column.

Although GATA gets a prominent [and well deserved] mention in this article, I'm ever mindful of the fact that the original source for all this information was silver analyst Ted Butler. He was steaming away at the CFTC about the concentrated short position fifteen years before I'd ever heard of GATA... and long before Bill Murphy and Chris Powell threw $1,000 in the pot and founded the organization... of which I am now a director. As I said, this story is a must read... and the link is here.

Here's another short read about what's currently happening in the silver market. It was sent to me late last night by reader Allister Headland. It's a short piece [with an excellent graph] that's posted over at 24hgold.com... and it's headlined "Will the CFTC Actually Act to Protect Silver Investors?" This is a also a must read... and the link is here.

While I'm talking about it... a copy of the "Silver Manipulation Lawsuit"... is posted over at that GATA website... and for all you legal types that wish to peruse it, the link to the 30-page pdf file is here.

Next is a GATA release of a story that appeared in yesterday's edition of the Financial Times out of London. As Chris Powell states in his preamble... "Once again official gold data of long standing is shown to be no good... and suddenly the FT is demonstrating a little curiosity about it." The headline reads "Chink of Light Shed on New York Fed Gold". This, too, falls into the must read category... and the link is here.

John Hathaway, managing director of Tocqueville Asset Management LP, has a column posted over at bloomberg.com which was a GATA release late last night. The stunning headline reads "Gold Will Outlive Dollar Once Slaughter Comes". Even though the story was posted at 9:00 p.m. Eastern time, the 'thought police' over at Bloomberg have already placed it in their archives... plus given it a new URL. I have dug it up... and the new link is here. I would think that it's worth the read.

Here's another story that was sent to me by Eric King... but I'm just going to steal Chris Powell's preamble from his GATA release instead of wordsmithing my own... "In an interview yesterday with King World News, GoldMoney founder and GATA consultant James Turk does some chart work and predicts that silver will be at $30 in 18 days. The last time Turk made such a specific prediction about a precious metals price explosion, he was off by 48 hours. His friends forgave him that much... and maybe he'll do better this time. In any case, from Turk's lips to the Great Market Manipulator's ear -- and we don't mean Bernanke's. You can find excerpts from the interview with Turk at the King World News Internet site. It's headlined "Silver to $30 in 18 days, Turk tells King World News"... and the short blog is linked here.