Social Security is dead. The retirement programs of government employees is going to rest in pieces.
Uncle gives, and Uncle will take away. There is no free lunch. Get ready to pay the Piper.
Ireland Seizes $7 Billion From Its Pension
Continue reading In The News Today Jim’s Mailbox June 12, 2011, at 8:19 pm by Jim Sinclair in the category Jim's Mailbox | Print This Post Print This Post | Email This Post Email This Post
Silver Preparing For Another Shock And Awe Move CIGA Eric
Money flows reflect a bullish setup despite the negative headlines and growing pessimism towards silver.
Open interest continues to decline as the weak hands are flushed (see chart below). This action is consistent with paper operations in which the weak hands are flushed in
The GPL Valenciana Mine is the most productive mine in the city Guanajuato, and it is Great GPL operation.
Guanajuato and GPL Valenciana Mines -
Founded by the Spanish in the early 16th century, Guanajuato became the world's leading silver-extraction centre in the 18th century.
The GPL Valenciana Silver Mines was once the richest in the world.
Historic town of Guanajuato, Cathedral Nuestra Senhora de Guanajuato and the university at night, Province of Guanajuato, Mexico, Cathedrale de Nuestra Senhora de Guanajuato et l’université la nuit, Etat de Guanajuato, Mexique, Site du Patrimoine Mondial de Stadt Guanajuato, Katedrale Nuestra Senhora de Guanajuato und die Universität, Universitaet bei Nacht, Provinz Guanajuato, Mexiko,
Historic town of Guanajuato, Templo San Diego at night, Province of Guanajuato, Mexico,
Guanajuato, Plaza del Baratillo,
The mine is surrounded by a high wall with triangular projections on top, said to symbolise the crown of the King of Spain.
The huge stone walls on the hillside, supported by enormous buttresses, have created an artificial level surface from spoil excavated higher up the hill.
From their credit crisis lows, I indexed the series to 1.00. Silver and gold (green & blue plots) bottomed in October 2008, while the Dow (red plot) bottomed on 09 March 2009. Note that silver's green plot is read off the right scale. Indexing data allows us to see these markets as a horse race, with each series beginning at 1.00. Their gains as of 13 June, from the lows of the credit crisis is given in the text box at the upper left.
The most notable thing is how similar the Dow Jones (red plot) and gold (blue plot) have performed since their credit crisis lows. Both have outperformed the much promoted financial stocks. It's also notable that silver (green plot, right scale), even after the resent correction is still the star performer of the past few years. I expect that will be the case in the years to come, if not this summer.
Silver
Keep in mind that silver was only pennies from a new all-time high one day, to a 30% crash in only seven trading days. No doubt about it, silver got whacked by the "regulators." We know this to be true because if this ever happen to one of the major stock indexes, the "regulators" would be out head-hunting to "find the bastards who did this!" That they don't investigate silver's "flash crash" only tells us they already know who was behind it - the "regulators" themselves. Yep, it's pretty corrupt, but over the long term it won't make a difference.
Since the start of its bull market, whenever silver was knocked down 30%, it took over a year before it recovered its losses, and again made new highs for the move. So really if silver should see new highs (BEV Zeros) for the move before Christmas, its darn bullish for silver. Right now it looks like silver is looking a bottom. If May's crash lows hold up for the next week or two, and I expect them too, it will be interesting to see how quickly silver can go on to new highs. If you like buying low, this seems a good time to be buying silver.
All and all, I can find more reasons for silver and gold to continue their advances, while the gains in the stock market's post March 2009 advance is showing signs of exhaustion. With a US presidential election year in 2012, we should anticipate some surprises in the markets. The question is: who are the markets going to surprise; the gold bugs or the "regulators?"
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