Silver Price hits $31 in Asia
posted on
Jan 03, 2011 01:58AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
First market day of the New Year and silver hits a new 30 year high. Based on the last 6 months of trading it looks to me like this will not end without an intermediate blow off high of at least $40. Government silver sales that have been from Russia, India, and China the last 10 years are pretty much over. U.S. silver eagle sales at record highs and they can't keep up with demand. Don't sell any silver or shares until silver eagle demand drops below 1.5 million ounces per month. Currently we are over 3 million per month. Money printing in overdrive. They just pased a law that went into effect over the weekend that Maryland electricity providers will have to buy more electricity from solar generated power. http://mddailyrecord.com/2010/12/29/new-law-increases-use-of-solar-energy-in-maryland/. One of the contractor's I design for said a big land owner in Delaware is going to install huge numbers of the concave solar mirrors that track the sun by computer and produce electricity by heating fluids. Each mirror will have its own pipe pile foundation driven 10' to 12' in the ground. Silver demand from solar is going to become huge. Obama is going to kill the coal power generating industry one way or another. Coal will still be mined, it will just be shipped to China where they do not put CO2 emissions above their economy.
I am all for a clean earth and hope the day comes that all electricity comes from solar, wind, hydro, and geothermal. I am against giving up our national sovernity so the elite can get rich off of this need. The way oil prices are going, a lot of that stuff is coing to be cost competative real soon. I once read that installing 8100 square miles of solar heliostat mirrors in the desert southwest would provide all of the U.S. electric energy needs. This only a 90 mile x 90 mile area. A picture of one of these is here: http://www.fotosearch.com/GLW382/gwp118020/