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Silver is down $2.15 so far this week.
Today gold closed down $6.70 at $872.30 and silver closed down .36 at $16.18. So far this week gold is down $37.40 and silver is down $1.27.
Today gold closed up $5.50 at $879.00 and silver closed up .12 at $16.54. So far this week gold is down $30.70 and silver is down .91.
Today gold closed down $20.30 at $873.50 and silver closed down .47 at $16.42. So far this week gold is down $36.20 and silver is down $1.03.
Today gold closed down $15.90 at $893.80 and silver closed down .56 at $16.89.
NEW DELHI : Silver has always been the second choice for consumers after the glitter of gold, but when it comes to investors the yellow metal is giving just about half the return compared to its whitish-grey cousin.
After outpacing gold's return of just about 14 per cent with over 30 per cent appreciation in 2007, silver is still maintaining a significant lead this year.
The average return from investment in silver has grown by about 18 per cent since January this year, as against about 12 per cent for gold in the same period, the experts said.
"Buoyed by industrial demand, silver prices are rising significantly in line with gold. In fact, volatility in white metal have been much higher than gold this year both in global as well as domestic market," brokerage firm Karvy Comtrade's Research Head Harish G said.
Today gold closed down $3.60 at $909.70 and silver closed down .26 at $17.45. For the week gold is down $18.70 and silver is up .11.
Kevin, you are exactly right. Add three zero's to the number that I posted. I was trying to do too many things at the same time when that happened. I believe that I was wrong more than once on that day. Doesn't pay to be in too big of a hurry. Have a great day.
Today gold closed up $7.90 at $913.30 and silver closed up .27 at $17.71. So far this week gold is down $15.10 and silver is up .37.
Joe, for some reason the photos did not transfer. I should have said that they were on Kitco.
Silver and Monetary Considerations
By David Morgan Printer Friendly Version
Jul 31 2008 11:40AM
www.freemarketnews.com
Hyperinflation in Germany
Many of you are probably too young to appreciate the full impact of the hyperinflation in Germany after WW1. It was devastating. This picture shows you the amount of paper that was equal to one silver dollar, or ¾ of one troy ounce of fine silver. After seven years of constantly accelerating inflation, the mark is finally stabilized at the rate of over 4 trillion to a U.S. dollar. The black market rate, however, was an incredible 12 trillion to the dollar at this time. The pre-inflation exchange rate for the mark was by contrast a modest 4.2 to the U.S. dollar. Can anyone say Hyperinflation?
I have looked at this picture many times, and during one of my presentations, it suddenly hit me that this amount of paper was roughly equal to the amount of value in a silver dollar. In other words, the commodity value of the paper was worth something, because paper can be burned to give off heat and certainly this is of value.
German Currency Crisis: Burn, Baby, Burn
Recently one of my associates sent me this photo and indeed what I had surmised was true. You can see this woman burning the notes because they did possess the value of being able to heat the room, but this was the highest and best use. The ability to be a means of final settlement (real money’s function) had evaporated.
The question for us today becomes whether this is the path that we are taking presently. I certainly must state that so far it is, but we are seeing some deflationary forces taking place in the credit markets. We must remember that after WW2, the Breton Woods agreement was signed using the U.S. dollar as the reserve currency of the world. This was done because the U.S. dollar was backed by gold, and by using the U.S. dollar as the world’s reserve currency, it meant essentially that it was “as good as gold.” I put quotations around that expression because I am old enough to recall hearing that expression of speech in my youth. In fact there were basically two well known expressions about the dollar. One was, “good as gold”; the other was, “sound as a dollar.”
The U.S. abused this privilege and printed too much money. France caught on to this, as I am sure others did as well, but France shipped dollars back to the U.S. and took the gold, according to the contract. As this developed, Richard Nixon, President at the time, did about the only thing he could and that was to renege on the contract. This is politely referred to as “closing the gold window,” but what is really meant is that the world had entered into a new era of financial mismanagement that would have dire consequences down the road.
I believe that we are now getting near the end of that road and that we are all in this together. What I mean by that is that Germany, as well as all of Europe, Asia, South America, North America—basically the entire world—is tied to the fate of the U.S. dollar. Since the reserve is still the dollar, as it goes down in value it obviously means that all nations that hold dollars are in trouble as well.
The implications from monetary history are not good, as these two slides have shown. The main stated function of the central bank is to maintain monetary stability, and yet this has not been the case anywhere in the world. Taking the United States as an example, the value of the “dollar” is about 3.5 cents since the last central bank was established, so in less than one hundred years the reserve currency of the world has lost almost 98% of its value. This is a fact that escapes many people because it has taken more than two generations and has happened at a slow enough pace for people to adjust their thinking, to believe that inflation is normal, that a little inflation is necessary, or that, “My wages are going up so who cares about inflation?”
Most problems are best addressed when the real problem is put into simple terms. The problem as it exists today, as it existed during the Weimar Republic, is you cannot print your way out of this mess. Or perhaps better stated, you cannot print wealth. Wealth has to be earned by the production of real goods and services that the free marketplace determines without any outside interference.
Kevin, CPLA is in extremely good shape with a strong current condition and earning power. Even though the company exceeded earnings expectations they were still able to cut costs. The buyback program only represents about 1,135 shares at the current price. I believe that the price will come back before the end of the trading day.
Today gold closed down $12.50 at $905.40 and silver closed up .13 at $17.44. So far this week gold is down $23.00 and silver is up .10.
Kevin, it is hard to tell which bank will be next. IndyMac was the 2nd largest bank failure in US history. The Feds took closed the bank about two weeks ago.
Washington Mutual is one of the largest banks in the country and it is in terrible trouble.
Citigroup (Citi Corp) lost 10 billion dollars in one quarter.
Lehman Brothers lost over 4 billion dollars in one quarter.
What surprised me is the fact that Morgan Stanley/Chase was allowed to take over Bear Stearns with the help of the government. MSC has over 2 trillion in derivatives and added to that when the takeover took place.
These are the largest banks in the country and all are drowning under a sea of sub-prime loans and derivatives. I tried to tell everyone about these banks in January but what I cannot tell anyone is in what order the collapse will take place.
Today gold closed down $12.50 at $917.60 and silver closed down .18 at $17.31.
Today gold closed up $1.70 at $930.10 and silver closed up.15 at $17.49.
Today gold closed up $1.90 at $928.40 and silver closed down .07 at $17.34. For the week gold is down $26.20 and silver is down .77.
Tsafi, I was in Gaza in 1981. We were told not to go into Gaza at night due to the nightly grenade party that was so common there.
Today gold closed up $6.90 at $926.50 and silver closed up .05 at $17.41. So far this week gold is down $28.00 and silver is down .70.
Today gold closed down $25.30 at $916.60 and silver closed down .55 at $17.36. In the past two days gold is down $46.20 and silver is down $1.05.
Today gold closed down $20.90 at $944.90 and silver closed down .50 at $17.91.
This morning the price of silver was pushed back by .82 after the NY market opened. Gold was pushed back by $30.60. Both have rebounded slightly. This is a typical Tuesday for precious metals.
Today gold closed up $11.20 at $965.80 and silver closed up .30 at $18.41.
The total amount of outstanding derivatives (essentially unregulated, high-risk credit bets) has reached $1.28 quadrillion. That's $1,280,000,000,000,000 (thetrumpet.com)
submitted 5 days ago by samseed101 to reddit.
Jerry
Kevin, the problem is that most of the gold hedging and shorts have been covered. This is not true of silver where the situation continues to get worse. This is one of the reasons why the gold/silver ratio is about 53 now instead of the 15 which is about what it was when gold was over $800.00 in 1980.
Today gold closed down $2.40 at $954.60 and silver closed down .43 at $18.11. For the week gold is down $10.00 and silver is down .73.
Today gold closed down $2.30 at $957.00 and silver closed down .23 at $18.54. So far this week gold is down $7.60 and silver is down .30.
Today gold closed down $17.90 at $959.30 and silver closed down .14 at $18.77. So far this week gold is down $5.30 and silver is down .07.
Today gold closed up $5.10 at $977.20 and silver closed down .18 at $18.91. So far this week gold is up $12.60 and silver is up .07.
The bullion banks are in a frenzy. It is only a matter of time until they join the domino affect that is taking down some of the largest banks in the US. Silver was up .41 at one time until the onslaught started. Silver has been knocked back to a loss of .63 on the day or a swing of $1.04.
Today gold closed up $7.50 at $972.10 and silver closed up .25 at $19.09.
That's right. I remember in January saying that several major banks would go bankrupt or be taken over this year. Someone stated that that was a scary thought if it happens. This is just the beginning of the domino effect. Many more are destined to follow. Just check out the billions that they are losing each quarter. They have no way of getting out of the derivative situation or the sub-prime loan disaster.
Kevin, the second largest bank failure in history happened yesterday. IndyMac is now history.
CFO is up 12% in the 1st half hour.
I'm getting mixed messages but it looks like Clifton Star (CFO) on the Canadian exchange should do very well this morning.
Today gold closed up $18.20 at $964.60 and silver closed up .55 at $18.84. For the week gold is up $31.00 and silver is up .58.
Today gold closed up $18.50 at $946.40 and silver closed up .18 at $18.29. So far this week gold is up $33.10 and silver is up .03.
Today gold closed up $8.50 at $928.20 and silver closed up .33 at $18.11. So far this week gold is down $5.60 and silver is down .15.
Today gold closed down $7.50 at $926.10 and silver closed down .47 at $17.79
What a pile of garbage! The claim is that gold is down due to strength in the US dollar. Gold is currently down 1 1/4 % while the US dollar has gained .0017 against the euro and is down against the Canadian dollar.