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$18 silver?

Obviously I don't have a clue about anything this AM.

 

But the break into what looks to be wave 3 down yields a possible objective 1.618X wave 1 or to about $18.

 

Again, I got no clue but I can tell you that I once lost $200K in a day on silver, the only good thing about it was that it was their money. However it took 2 months to get it and one day to lose it.

 

Life's lessons.

17 Replies
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Senior Advisor

Re: $18 silver?

The great deflationary spiral gas begun.

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Senior Contributor

Re: $18 silver?

What about gold nox? it seems to be in free fall?? How can that be when Greece and Italy are bk and supposedly the euro is in danger of collapse?  What happened to the money flight to hard assets like Kuggerands?

 

I think today's sudden flight away from hard assets will be extremely short lived.

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Honored Advisor

Re: $18 silver?

Boys, if the answer is "Jobs, jobs jobs", by the Fed taking us into a double-dip recession, who would hire in that environment?  Two possibilties,  the mafia(gov`t) is gonna bust a few kneecaps so we are all on board for a QE-3.  Or the second choice, the wheels really have came off the Obama bus and we are gonna land at the bottom of a deep canyon. Barney `Fife` Bernanke might have 1 bullet left for his gun, print print print.  To do that, all us austerity tough talkers have to be put in our places, by being shown how ugly things can get by being"responsible". 

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Senior Contributor

Re: $18 silver?

 "print print print.  To do that, all us austerity tough talkers have to be put in our places, by being shown how ugly things can get by being"responsible". "

 

Strange logic, but, you could be completely correct. In order for the fed to print, print, print, it may be politically necessary to get everyone on board this time even the hard headed cash only crowd.

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Advisor

Redux

OK, once more:

 

http://www.macrobusiness.com.au/2011/05/overruled/

 

SNIP:

 

 

But in global finance there are some things happening that are genuinely different. Dangerously so. It is becoming a hall of mirrors, money referring to itself in an infinite regress. Little wonder that people are attracted to gold, because gold seems to be a tangible, solid measure of value, something we can rest on in an environment where everything seems relative. Yet this, too, is an illusion. The yellow metal only has value because it has a history of being deemed to have value. It is no more an objective measure of value than the pieces of coloured plastic, notes, that make up legal tender.

 

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Honored Advisor

Re: $18 silver?

If Goldman-Sux really has been shorting gold, they`re making out like bandits today.  PMs will be the last investment standing, you just have to traipse through a mighty scary forest to get there.

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Honored Advisor

Re: $18 silver?

Well, the puppet masters are a "strange" lot.

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Senior Contributor

Re: Redux

"The yellow metal only has value because it has a history of being deemed to have value. It is no more an objective measure of value than the pieces of coloured plastic, notes, that make up legal tender."

 

 

Well, this morning's gold action could add credibility to that statement if the freefall continues very long. Otherwise, I have to completely disregard it as BOLDERDASH!

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Advisor

Re: Redux

Its true and not true.   In the life of every fiat currency there is a time where you'll use the paper to wipe and flush, that will never happen with gold, but short term, as in a lifetime, gold can fluctuate wildly.  What's on your hand?  In the pharohs tomb?