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Nickelless
Administrator
USA
5580 Posts |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 11/16/2009 : 19:04:02
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It is amazing to me the dollar dropping, gold breaking records daily, silver and copper shooting up, and the media says nothing.
Only those places who were already watching real money are keeping up. |
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 11/16/2009 : 19:28:43
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While we can all lay out a number of reasons why the PMs and copper went up today, it is important that there is follow through the next few days. SILVER broke through resistence at $18 today with gusto. $19 must be broken through quickly or this break out will become suspect once again. IMHO, once $19 is taken out, SILVER will challenge the 2008 high at $21. Even at a reasonable 50:1 SILVER/GOLD ratio, SILVER should be at $22.80.
We'll just have to see what happens during the next few days. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
Theodore Roosevelt
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Nickelless
Administrator
USA
5580 Posts |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 11/16/2009 : 19:40:16
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quote:
Originally posted by Nickelless
But the Dow was also up 136 points, so I'd tend to think that something besides a weaker dollar pushed PMs up today. Any ideas?
It's simply worldwide monitized inflation going into things that can be bought. I heard that even the Art and collectibles market is heating up. INFLATION - TOO FEW GOODS CHASED BY TOO MUCH MONEY. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
Theodore Roosevelt
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fb101
Administrator
USA
2856 Posts |
Posted - 11/16/2009 : 19:51:27
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quote:
China, the No. 1 lender to the United States, has expressed concerns that the falling dollar threatens the value of its existing U.S. holdings. China also is the third-largest market for American goods, accounting for 6 percent of U.S. exports through September.
Are we counting debt as a export now?
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Nickelless
Administrator
USA
5580 Posts |
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billo
Penny Collector Member
293 Posts |
Posted - 11/16/2009 : 21:06:46
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| Obama is begging China to raise the Yuan against the dollar. (Bush was actually considering that too in his term.) Kind of a beacon. |
That's not a dollar, mate...THIS is a dollar.
http://www.sendcongressapinkslip.com/ |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/16/2009 : 21:19:33
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| I'm so happy I bought 100 ounces at yesterdays price. |
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 11/17/2009 : 02:53:28
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quote:
Originally posted by Nickelless
I was amazed at the jump in silver today. Is silver going up or did the dollar drop more today? Any financial news I haven't seen yet?
Most likely a combination of silver, having consolidated recently between $17.10 to $17.50, and being compressed like a coiled spring by the powers that be (the Comex shorts) with every price rise, slipping away from the slippery sons without mothers and rising of its own accord and that rise being accentuated by short-covering. I'd be surprised if there isn't about a thirty percent retracement today of yesterday's gains.  But I do see silver headed higher. Good buy of $17 silver, Jade; Goodbye jaded $17 silver!  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
Edited by - beauanderos on 11/17/2009 02:54:28 |
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Silver closed at $18.40 today; any news?
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