Bill Murphy interview "Silver is going to go ballistic any day!" (10/19/11)

[Large Sarge]

http://www.youtube.com/watch?feature=player_embedded&v=6mjJRvKv9_s

[Large Sarge]

http://www.youtube.com/watch?feature=player_embedded&v=6mjJRvKv9_s

[gunDriller]

to be honest, i think we are somewhat blinded by our knowledge of the long term destiny for silver & gold.

repeatedly, the last few years, when silver & gold have gotten much above their 200 day moving average, after 2 or 3 weeks they are knocked down.

it happened in April 2011 for silver. then it happened again in August 2011 for gold.

with silver the huge reduction in commercial short positions about a week before the dip from $49 to $33 was part of the story.

with gold, the need to sell something valuable for a profit was part of the reason it crashed from $1900 to $1600.

it's not that silver isn't worth $50 and that gold isn't worth $1900. it's that hedge funds need cash to cover redemptions (and the currency manipulators are happy to jump on any price dip to make it a price crash).

i think being surrounded by other PM enthusiasts sometimes blinds us. when silver got to $49 & gold got to $1900, i thought "is this IT ?" (the big climb)

[Large Sarge]

FWIW, I have never heard of such widespread shortages as of today (worldwide)

and with whispers of the next QE, and how the average investor is, well, they will buy en masse on the way up...