Tsafi

[langlui]

Jerry, you nailed it! You predicted two financial institutions are going to go down or being taken over.

LEH filed Ch 11 tonight
BAC took over MER tonight for $50 billion (MER valued at $29/share, a 70% premium based on Friday's closing price)

Posted by: popeyej Date: Friday, August 22, 2008 7:21:25 AM
In reply to: langlui who wrote msg# 14383 Post # of 14449

Langlui, believe it or not, the oil industry is also a manipulated market. I remember in the early seventies when long lines of cars would be waiting to get gas at service stations around the country. The major oil companies broke the independents with this false gas shortage. After breaking the independents the majors would go in during the night and fill the underground tanks and use them for storage. I happened to witness this happening while taking a late night walk. A tanker was filling the tanks of a station that had gone broke a few months earlier. I do not study the crude oil market like I do the precious metals so I have no idea where the price is going.

With precious metals, every summer for as long as I can remember the prices of gold and silver drop during the summer vacation months and then rally during the last four months. I still believe that there is a very good chance that silver will hit $20.00 an ounce by the end of the year. Also look for at least two more major financial institutions to fail or be taken over by the end of the year with Lehman Brothers being one of them.