With gold skyrocketing higher, many silver investors are scratching their heads at the underperformance of their favorite grey metal, silver. Silver has been subdued to say the least in contrast to gold while the stock market has been hammered lower and gold has gone as high as $1799 U.S. Fiat Federal Reserve notes today, silver finally is starting to show some life.
In fact, silver is up 4% as I type this. Not too bad I would say on a day when the DOW IS DOWN hundreds of points once again. I was watching a video from Bix Wier and he was saying that the real battle right now is in the silver market. Bix says silver has the ability to bring down this current financial system by bringing down JP Morgan Chase who does nothing but short paper silver continually.
Max Kieser always said that the end would be near once the price of silver exceeded the price of JPM stock convincingly.
Well, that day has arrived and now JPM is trading at $35.57 while Silver is above $39 and SLV (Paper Silver ETF) is trading at $38.13.
You probably already know that Jim Sinclair, who Turd calls Santa, made it quite clear in his recent interview with James Turk of Gold Money Foundation, that when Gold clears (and stays above) $1764, it would begin an exponential move higher. This seems to be happening right now as I mentioned that gold traded as high as $1799 today and is currently sitting at $1776. Hey, 1776 is the year of our independence right? What independence? It looks like they captured us again huh?
At the moment, it looks like the banks will try to close gold lower than it is on the day, I believe it is $1775 they are defending, which gives them an $11 cushion above Jim's price of never never land. Just as I am typing this gold has been pushed back down to $1771 so this is of course an epic battle.
People around the world seem to be quite on edge as LONDON IS BURNING AND GOLD IS SOARING. Now if you haven't seen this, check out the new video by ANONYMOUS.
They are threatening to TAKE DOWN FACEBOOK on November 5, 2011. Seriously, things are strange huh? I think silver owners need to continue to stack the physical metal and be patient as this consolidation phase in silver could end at any moment.
Silver is such a tiny little market that is completely dominated with illegal paper short selling but stocks continue to go lower and most silver holders are silver hoarders. They won't be scared out of their physical positions by paper games on the increasingly insignificant COMEX (Better Known As The CRIMEX).
Don't expect any help from the losers at the CFTC as they have already shown that they are puppets to the bankers at JP Morgan as is our own Congress and President.
As things continue to deteriorate globally, and the massive amounts of debt continue to haunt the financial system, take refugee in your Silver and Gold and you will be duly rewarded.
Got Silver? Got Gold?