Silver Set For All Time Record Quarterly Close - Gold To Silver Ratio On Way To 17 To 1 As Per 1980?Submitted by Tyler Durden on 03/31/2011 07:27 -0400
‘Poor man’s gold’ is set for a record nominal quarterly close which will be bullish technically and set silver up to target psychological resistance at $40/oz and then the nominal high of $50.35/oz . Silver’s record quarterly close was $32.20/oz on December 31st, 1979. While silver is up 22 percent this year and is heading for a ninth straight quarterly advance, its fundamentals remain very sound. With gold above its nominal record of 1980, poor man’s gold continues to be seen as offering better value. To the masses in India, China and Asia, silver is the cheap alternative to gold and an attractive store of value and hedge against inflation and debasement of paper currencies. Increasing global investment and industrial demand in the very small and finite silver bullion market is a recipe for higher prices. Thus, as we have long asserted the gold silver ratio is likely to revert to its long term average of 16 to 1. A return to a ratio of 16 to 1 is likely due to basic supply and demand and the geological fact that there are 16 parts of silver for every one part of gold in the earth’s crust.
Today should be fun.
Initial Claims 388K, Miss Expectations, Previous Revised Naturally Higher To 394K, Would Have Missed TooSubmitted by Tyler Durden on 03/31/2011 08:31 -0400
Submitted by Tyler Durden on 03/31/2011 08:55 -0400
- There has been disagreement in ECB governing council over new liquidity facility
- ECB will not announce plans for a new liquidity facility to help Irish banks on Thursday
Filed under: In The News
"…There is no nation on earth powerful enough to accomplish our overthrow. … Our destruction, should it come at all, will be from another quarter. From the inattention of the people to the concerns of their government, from their carelessness and negligence, I must confess that I do apprehend some danger. I fear that they may place too implicit a confidence in their public servants, and fail properly to scrutinize their conduct; that in this way they may be made the dupes of designing men, and become the instruments of their own undoing." –Daniel Webster, June 1, 1837
My Dear Friends,
Truth be told, the major theme of JSMineset has been one of self reliance in a monetary, physical and Emersonian sense. Our focus has been on your assets, your debt positions, legal matters and investment.
I have, with my dear friends here at JSMineset, tried to share what we know with you. We also pride ourselves in that we not only talk the talk, but also walk the walk.
Has Trader Dan not moved from Houston to an undisclosed location in Idaho? I am writing to you from a farm in North Western Connecticut, a rural part of the state. We provide our own water, can provide our own power, have a radio system fallback for communication, satellite phones, furnaces that burn coal or oil, an indoor pistol range that can take up to .50 calibre cartridges into a Detroit bullet trap, perimeter lighting, 16 camera day and night camera security and much more.
We have focused on conservative financial structures which were in truth taking you into the position of being your own central bank.
I have received from many people on my 70th birthday greetings plus small letters telling me how they have benefited from this link. Let me mention but two. A lady in the minerals industry lost her job and is the mother of two children and only bread winner in the house. She had very little money, but saved up a nest egg. She admits she did speculate but used the Angels. She now has $2,000,000 and has finished her period of speculation.
Chris from Canada told me that his portfolio, now mostly fully paid gold and silver, is worth $5,000,000. It was nowhere near that when he started.
Every effort here was to make you your own central bank which resulted in financial self reliance for many.
There is one more step that you really need to consider. The housing market is in a black hole from which it very well might not recover for generations. Land is cheap. When homes or small farms have been foreclosed on, resulting in bank owned property, they are sold in a fire sale to buyers with cash in hand.
Do as I have done. Do as Trader Dan has done.
The pictures below are on my maple syrup operations and my build it yourself greenhouse. The vegetables for my garden are already sprouting. I have fruit trees and am adding mature nut trees.
I strongly suggest that if you have benefitted from JSMineset, as many of you have, consider buying yourself a hobby farm and seriously go for the exercise of self reliance. I am certain that if even to cut costs you are going to need it.
The financial system is screwed up beyond any repair. On top of that there is no desire to repair anything because the wise guys know it is impossible. It is the world that the flushing of Lehman Bros. has created. It is not a brave new world. It is more like an audition for a world of Mad Max and the Day After.
It does not matter whether or not there is more QE. The damage is done and there is no solution.
Earth shaking events are taking place in the Middle East that the media would have you believe is a spontaneous outburst of democracy. Like hell it is. It is a move from some sort of rule, like it or not, to chaos.
Now that you are financially in good shape, please get physically self reliant.
Wow That Was Fast! Libyan Rebels Have Already Established A New Central Bank Of Libya
Salivating at the Upside Potential of the Gold Market
15 Indications that Bad Times Are About to Hit the U.S. Economy