Good analysis CH,
I posted this on Cool's blog and after I got started I meandered onto a subject that took away from his good analysis of the market, so I decided to post it here, in the event the mods see fit to delete it from CH's blog. I've pretty much stopped posting, since it was just turning into a waste of time and defending yourself was a no-no at least for certain people. But onto what I said in CH's blog.
I agree with you that QE3 has already begun in secrecy and that was just a signal that things are worse they the cheer leading MSM has been telling main street.
The metals will be back. Silver is such a small markets, that big swings are expected and not for the weak of heart. Both have already began their comeback, no matter how hard JP Morgan, HSBC and their fellow banksters try to beat them down. Silver is also an industrial metal, just one use alone solar power requires tons of metal since it is the best conductor around and every electronic gizmo has silver in it. Silver is due to become extinct, (see Silver Institute) by most knowledgeable geologist type folks by 2020. Oh it will still be in the ground, but it will cost way too much to mine it to make it worthwhile. This is occurring with a lot of our industrial metals along with oil.
Central Banks are buying Gold for who bit the chunk while telling us main street folks to invest in paper. Just a few days ago, South Koreas Central Bank bought 25 tons. It’s not new trend for all central banks, but one that’s speeding up as the world loses faith in the U.S. dollar and global markets. Mexico’s central bank a month or so ago bought over 100 tons of gold. Also China, India and Russia have all made large additions to their gold reserves in recent years.
Central banks have become net buyers of gold last year after two decades of heavy selling, a dramatic reversal that has helped propel the price of bullion to a series of record highs.
It was these banks along, with their front man, the Fed, that got us into this mess and now they are buying gold hand over fist after saying for years metal were so gauche and below them.
Just my humble opinion that when central banks (biggest buyers of precious metals at this time) take delivery of hundreds of tons of physical gold, this supply will not see the light of day for years as central banks are now clearly committed to diversifying out of major fiat currencies (i.e. this gold investment is not a trade, but a long-term investment). The demand for gold and silver will remain extremely high due to ongoing eurozone sovereign debt/banking issues, potential U.S. credit downgrade, not to even mention the continuing devaluation of the dollar by Bernaked 24/7 printing.
Nuff said, I’ve already said way too much on the subject. Folks play your strategy close to the vest, because there are snitches out there and they will be brainwashed into demonizing those of us that have prepared. Yeah you can laugh, but none of this is a surprise to me and if you honestly thought about it, this would be a surprise to you also.
So anything is possible when you no longer have a US Constitution. As obeyme and bitme, alluded to those of us that have a differing opinion than them as terrorist or worse. SINCE WHEN HAS A GOVERNMENT ADMINISTRATION ATTACKed AN OPPOSING VIEW SO VEHEMENTLY? This is nothing short of socialist from a wannabe dictator. This used to be America where you could voice your opinion without worry about being attacked by the Administration or snitched on by your neighbors. Remember obeyme’s snitch line? It’s still there, just in a different form and more underground.
Good Luck everyone, we have a real big hurting coming our way. 26 days till retirement. Yeah crazy time to retire but no debts and no wants, but I wanted to get alot of my money out of TSP, and into hard, tangible items, before it becomes worthless with all these QE's. And the next raising of the debt ceiling will really be a circus. Didn't one party say that if we didn't raise the debt ceiling, what's happening in the stock market wouldn't be happening.
CB
PS I also apologized to CH, for getting or political and told the mods to have at me. So that is why I posted it in my own account.
, again, but what's new about that. I put the post in Cowboy's account thread, sorry Cowboy, I'm not perfect like some folks think they are. Maybe the Mod's will be nice enough and move it to my account since they were nice enough to delete it from Coolhand's blog. (crossing fingers here). I thought it was a decent post, but I wondered off point in CH's blog and apolgized to him for doing that.
when we need him? He is supposed to hunt down and kill these megalomaniac world-domineering types.
