SILVER BREAKS $20 "I am going to drill it into all your heads for the 100th time. Gold is going to erupt and expose most "professionals" as clueless. We are seeing a collapse in public confidence that will not be resolved until gold goes to much higher levels. These are times of serious change. Those who ignore what is happening in plain sight will regret it."
This from Dave in Denver explains the sharp jump up this morning in G&S. http://www.kitco.com/charts/livesilver.html#ny (time sensitive: monday, 9/13/2010)
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The U.S. Dollar Is In Trouble
“Gradually the dollar is being eliminated from the foreign-trade settlement flows,” said Dariusz Kowalczyk, a Hong-Kong based senior economist at Credit Agricole CIB. “People are beginning to trade Asian currencies without intermediation via the dollar.”
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In the words of one analyst: “Given the risk to the dollar and U.S. assets from their fiscal position they want to reduce their dependence on the dollar as an invoicing currency...” Here's the link to the article: Dollar R.I.P.?
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The weak dollar may be supporting the surprising strength in the precious metals market, especially among big foreign buyers, who are vacuuming up physical gold and silver right now. In one of his daily "quickie" reports which can be accessed in the Midas report at http://www.lemetropolecafe.com/, "JB" reports: "India is booming and the “wealth effect” for the world's largest gold buyer cannot be ignored."
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My best advice would be to start unloading your bond portfolio holdings before the dollar really starts to flush down the toilet and use the proceeds to buy a lot more physical gold and silver. I would like to point out that premiums for 1 oz. silver eagles on Ebay are back over $3/oz. This is indicative of strong retail demand and waning supply.
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Be sure to check the News Sources on the left. 'Before it's News and GATA have interesting articles.
w/love
ali
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