Perfect Storm For Gold & Silver - Silver Surges 6% In Week To $40.28 – GFMS Forecast $50/oz This Year

Perfect Storm for Gold & Silver - Silver Surges 6% in Week to $40.28 – GFMS Forecast $50/oz This Year

Gold and silver reached new record all time and 31 year highs again yesterday and this morning – both nominal highs. Silver has surged to a new 31 year nominal high of $40.28/oz and may now target next resistance at $50/oz – the 1980 nominal high.

Gold is now targeting $1,500/oz after just reaching new nominal highs at $1473/oz. Gold is higher in all currencies this week but especially the beleaguered yen which has fallen 4% against gold in the week so far.

• Read more: Perfect Storm For Gold & Silver - Silver Surges 6% In Week To $40.28 – GFMS Forecast $50/oz This Year  

Why Silver Will Go UP for Years to Come!

1.  No nation on earth is using silver as a circulating medium of exchange.  The State of Utah is leading the way by making it legal tender.

2.  All nations on earth are using paper for money, which is about as wise as building houses out of straw.  The amount of paper money is uncountable, and is constantly soaring to new highs.  The USA stopped reporting the amounts of money in the banks back in 2006, and the banks in 2008 started depositing a lot of their bailout money with the Fed banks, making it even harder to track.  All of that marks the beginning of hyperinflation, which appears to be starting now. 

3.  The Federal annual deficit, which is how much they spent more than they took in, is $1.66 trillion, or $830 billion for the first half of fiscal 2011.  Does that count QEII?  What was not counted in that?  How reliable are the figures?  If the figures are wrong, are the real figures likely to be bigger or smaller, and by how much?


4.  The silver market remains tiny. "World investment rose by an impressive 40 percent last year to 279.3 million troy ounces (Moz), resulting in a net flow into silver of $5.6 billion, almost doubling 2009’s figure."  How reliable are the figures?

• Read more: Why Silver Will Go UP for Years to Come! 

SLA is born!

FORTY FREAKING DOLLAR SILVER!!!!

The Silver Liberation Army: The Cavalry Has Arrived

Failure To Reach Budget Resolution Sends Dollar Plunging, Silver At New Post Hunt High

Following news that an 11th hour attempt to resolve the budget impasse between Obama, Reid and Boehner has failed, the dollar, and all related carry pairs, are getting obliterated. At last check the EURUSD was north of 1.4350, while all Yen funding pairs rose back to intraday highs. Which in this bizarro world also means that futures are now at highs: yes -  a government shut down is bullish for stocks. The good news for those who continue to believe, what is only being realized by others, namely that the dollar's days are numbered is that silver has just touched $39.85: a fresh post Hunt Brother high. Gold is following suit.

• Read more: Failure To Reach Budget Resolution Sends Dollar Plunging, Silver At New Post Hunt High 

Buy Silver! Buy Freedom! Freeeedommmmmm!

$40!! W.I.N.N.I.N.G