|I've been keeping FRN liquidity high.|
Well, I said this post wasn't going to be about silver, but the market has been going down recently. Along with it the price of silver has fallen by as much as $1.80, actually breaking in the high 34's before resuming a tedious position about $35/oz. I believe that silver's fall, and that of the market, are correlated with immediate events: Silver has plunged at the same time oil reserves are being released.
This use of our "oil savings" (so to speak) will (TEMPORARILY) drop the price of gasoline. Usually an increase in the price of gasoline makes commodities more expense/scarce, silver is no different, while the inverse is also true. So, my personal theory is, as long as we have cheap gas it will be another anchor around silver's value price.
|Gold's price will suffer to.|
Fed Chairman Ben Bernanke told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.
"We don't have a precise read on why this slower pace of growth is persisting," Bernanke said. He said the weak housing market and problems in the banking system might be "more persistent than we thought."
The global banking system has reached a staggering level of power, and are the ONLY party benefiting from this financial crisis, which despite claiming that they "don't have a precise read on why..." has constantly pursued policies such as QE2 that has perpetuated and increased the problem.
To quote Frank Zappa's song "The Meek Shall Inherit Nothing":
"Well, people, you ain't even got no
Deal at all
'Cause what they do
They just takes care
of NUMBER ONE
An' NUMBER ONE ain't YOU
You ain't even NUMBER TWO"
Perhaps the next few weeks will be that final monster silver dip I've been predicting for a while. If so, I'll have my money ready to jump in. Cheers Yall. :edit: another hour past, silver broken past its previous low again! This may be it :)