Serpo
3rd May 2011, 05:55 PM
NUTS to all of you ‘top pickers!’
-- Posted Tuesday, 3 May 2011 | Share this article | Source: GoldSeek.com
“What is the meaning of a gold standard and a redeemable currency? It represents integrity. It insures the people’s control over the government’s use of the public purse. It is the best guarantee against the socialization of a nation. It enables a people to keep the government and banks in check. It prevents currency expansion from getting ever farther out of bounds until it becomes worthless. It tends to force standards of honesty on government and bank officials. It is the symbol of a free society and an honorable government. It is a necessary prerequisite to economic health. It is the first economic bulwark of free men”. W. E. Spahr.
On a daily basis I receive Emails that consist of a lament, citing analysts who are predicting a major top in the metals, to occur almost imminently. They quote a man who runs a financial website and who a few weeks ago, drew a line in the sand for silver at $37.00. They also mention Robert Prechter as having told his clients that he was selling silver at 37.37. I was surprised to learn that Prechter had any silver, since he told his subscribers in 2002 that he had just shorted gold at $400.00 and expected to cover at $50.00. Since he is still waiting for gold to drop to $50.00, why would he own silver? This is the same Robert Prechter who in the mid-1980’s predicted a peak for the DOW at 4000 to be followed by a crash. Instead the DOW rose to 11000. “Nuts” to these and other analysts who fail to realize that silver is in a bull market like no other.
more.....
http://news.goldseek.com/GoldSeek/1304432068.php
-- Posted Tuesday, 3 May 2011 | Share this article | Source: GoldSeek.com
“What is the meaning of a gold standard and a redeemable currency? It represents integrity. It insures the people’s control over the government’s use of the public purse. It is the best guarantee against the socialization of a nation. It enables a people to keep the government and banks in check. It prevents currency expansion from getting ever farther out of bounds until it becomes worthless. It tends to force standards of honesty on government and bank officials. It is the symbol of a free society and an honorable government. It is a necessary prerequisite to economic health. It is the first economic bulwark of free men”. W. E. Spahr.
On a daily basis I receive Emails that consist of a lament, citing analysts who are predicting a major top in the metals, to occur almost imminently. They quote a man who runs a financial website and who a few weeks ago, drew a line in the sand for silver at $37.00. They also mention Robert Prechter as having told his clients that he was selling silver at 37.37. I was surprised to learn that Prechter had any silver, since he told his subscribers in 2002 that he had just shorted gold at $400.00 and expected to cover at $50.00. Since he is still waiting for gold to drop to $50.00, why would he own silver? This is the same Robert Prechter who in the mid-1980’s predicted a peak for the DOW at 4000 to be followed by a crash. Instead the DOW rose to 11000. “Nuts” to these and other analysts who fail to realize that silver is in a bull market like no other.
more.....
http://news.goldseek.com/GoldSeek/1304432068.php