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Kevin, I just got home. This morning after getting my workout out of the way I spent a few hours talking to people on I-5. When we finally got to where the accident took place there was a semi in the median and the cab was sitting directly on top of a vehicle. Your guess is as good as mine as to what the make or model was. It was squashed like a bug. I heard that a family of four had been killed.
Today gold closed down $33.70 at $834.50 and silver closed down $1.74 at $10.85. So far this week gold is down $43.30 and silver is down $2.46.
Why don't they just say quadrillion? There are about 1.28 quadrillion in derivatives so the $700,000,000 will not do much for very long. This coupled with the sub prime loans is a recipe for disaster.
Atotalbum, I believe that you have a very good analysis of what is taking place. I just heard about some of the outrageous inclusions that went in to the plan to get it passed.
Today gold closed down $1.80 at $868.20 and silver closed up .53 at $12.59. So far this week gold is down $9.60 and silver is down .72.
I noticed that also. The rates have been going up for about two weeks. This is as high as they have been for months. Once the rates get above about one percent it is not viable to roll the contracts over. I will start to watch then on a daily basis again. All of the rates are right at one percent now.
Today gold closed down $33.50 at $870.00 and silver closed down $1.02 at $12.06. So far this week gold is down $7.80 and silver is down $1.25.
Kevin, silver only got down to $11.72 today. The bottom on the 15th was $10.38. I still have a little leeway. lol!
Kevin, I may have...lol. It still has a way to go.
Kevin, I especially agree with the statement on the Federal Reserve and the one about the dollar being worth .22. That is very optimistic since it has little or no backing.
I agree again. I feel very sorry for the American people that have not prepared for this. I don't have young children but I do have young great grandchildren.
I agree Atotalbum. But I have seen leadership just as bad under the Carter administration when interest rates went into the high double digits. This leadership is brain dead not to have seen this coming. It would have been much easier to fix a year ago.
Tsafi, I couldn't agree with you more. We can take care of the rest of the world but when it comes to the US, let them go down with the ship.
I really don't know, Kevin. But it a strong possibility. The government is not nearly as worried about the American citizen as it is their own interests.
Tsafi, even more important than that is the tremendous short selling in precious metals. If that has to be met the US will have to file a chapter 7. There is a tremendous amount of short selling everywhere and that coupled with all of the bank failures spells disaster. Any 1st year accountant could see this coming many months ago.
Today gold closed up $25.70 at $903.50 and silver closed down .23 at $13.08.
Another large bank disappears into the sunset. (Wachovia)
I agree. The supply of uranium has been dwindling over the past few years. If the US gets on the nuclear power plant wagon that could put additional pressure on the uranium supply.
WASHINGTON — The U.S. Mint is temporarily halting sales of its popular American Buffalo 24-karat gold coins because it can't keep up with soaring demand as investors seek the safety of gold amid economic turbulence.
Today gold closed up $2.00 $877.80 and silver closed up .12 at $13.31. For the week gold is up $6.00 and silver is up .69.
Kevin, I believe that he has it nailed. Also, the prices quoted for gold and silver are very much in line with what I have been saying during the recent huge dip in precious metal prices.
Kevin:
A few minutes ago on the news they said that no agreement has been made and that they are having trouble settling on one.
Also Washington Mutual apparently bit the dust today.
Kevin, don't you believe it where silver is concerned. The better the economy the more silver is used. That is moot anyway. The 100 new cities that China is building will take a toll on silver. Each city is to have 1,000,000 people.
Today gold closed down $6.10 at $875.80 and silver closed down .02 at $13.19 after being up over sixty cents. So far this week gold is up $4.00 and silver is up .57.
Today gold closed down $10.80 at $881.90 and silver closed down .07 at $13.21. So far this week gold is up $10.10 and silver is up .59.
Right Kevin. After going up .85 on Monday it needed a rest. The outlook is still great for silver for the next few years.
Thanks Kevin. I certainly don't see anything that is wrong in that article. He pretty much has it nailed. Now is the time to sit back and hang on.
Postquantum, I believe that you are right. SIL is a great long term stock. The one problem that I see that can be fixed quite easily is their current condition. They have $82,000,000 in cash and have gone from a losing quarter last year to a net income of $177,000,000 this past quarter. They should do extremely well in the next few years.
Today gold closed down $5.60 at $892.70 and silver closed down .19 at $13.28. So far this week gold is up $20.90 and silver is up .66.
Apparently we have some of the most brain dead people on the face of the earth leading this country. On the news last night it was stated that no one knew this financial institutional crisis was coming. Congress, bankers and anyone to do with the business community were in the dark. Any 1st year accounting student could have seen this coming after taking a look at their financial statements. I'm not saying this because I saw it coming eight months ago I am saying this because they had to know but did not care. They kept the American people in the dark and let many lose everything that they had.
I planned for this so I am in good shape but I cannot help but have tremendous empathy for those that have lost everything. We need a complete overhaul of congress but, of course, we will not get it.
Remember to buy up any silver that you may find and protect yourself against the influx of trillions of dollars that will further dilute the US dollar which no longer has any backing.
At one time the US had billions of ounces of silver. Now they have none. The gold that once was situated in fort knox has dwindled and there is no telling what is there now. Protect
Yourself!
Today gold closed up $26.50 at $898.30 and silver closed up .85 at $13.47.
TheRavininexile:
That is what I have been saying for about a year. Silver is getting scarce. I hope that everyone on here bought at least a little precious metal for hard times. You will not be sorry.
Whatever you do, do not sell your gold and silver now. The bottom for silver hit on 9-15-08 and I do not look for that price again in my lifetime. Apparently the central banks are nearly through with their allotment of gold selling each year. This would turn gold loose for a long term run. Look for silver to become more scare than it already is and this will take place in the very near future.
Jerry
I am not a player (long term investor). My major purchases have been silver over the past 15 years. I do like PAAS and for a penny I like SRLM. In gold I like GG and for a penny gold stock I like MMRSF.
Kevin, thank you. I didn't read that article. For the past few weeks my wife and I have been spending a lot of time putting together a stage show which I just returned from.
I have been saying that it will take trillions not millions to bail everyone out. The problem is that there is nothing to back the paper money. The government is completely out of silver and the gold reserves are a shadow of what they used to be. Whatever you do don't sell your silver in the near future.
Today gold closed up $19.80 at $871.80 and silver closed up .69 at $12.62. For the week gold is up $108.10 and silver is up $1.78.
I just heard on the news that the governments plan to bail out the banks will cost the American taxpayers one-trillion dollars. Don't you believe it. One-trillion will not touch it. When the time comes it could cost that much to bail out J P Morgan/Chase.
The congress that refuses to do anything should take the blame. I don't think Bush is smart enough to cause this kind of trouble. Anyway, I believe that it is congress that needs to take control of the situation but we are never going to get them to really agree on anything.
Silver just dropped 18 cents in one minute.
The SEC chairman has put a temporary ban on short selling stocks. If they had done this with precious metals there would have been a total panic.