Gold Price Close Today : $885.50
Change: -$18.40 or -2.0%
Silver Price Close Today : $13.120
Change: -28 cents or -2.1%
US Dollar Index Today: 76.81
Change: -0.52 or 0.7%
Now the Nuthouse is staging a drama. Senators pretend to resist the plan, while Hank the Honker and Buggsie Ben insist in tears that only the bailout will prevent financial meltdown that will take New York down to the center of the earth. You there! Yes, you alligators! Cry some bigger tears!
Best part of the "Financial Industry Bailout Plan" is that I can't find a copy of it on the web, not even on the Senate's website. Odd, doncherthink? But somebody did send me one little part of it, says that none of it will be subject to judicial review. Yessir, once this fix is in, no judge will be allowed to review or change it.
End of rule of law and other elitist nonsense. Thank you Bush administration, and cooperating politicians.
The US DOLLAR INDEX rose 56 basis points today while silver and gold prices fell 28 cents to $13.12 and 18.40 to 885.50. Dollar Index at 76.811. I told y'all to expect from the Nice Government Men a counter-attack on gold and silver to protect their phoney paper dollar, and today might have been it. Don't let it rattle you, it doesn't mean but one thing: a chance for you to buy silver and gold a little a cheaper.
I have to travel the rest of this week, so won't be publishing a commentary Wednesday, Thursday, or Friday.
Keep your eyes on the long-term. The "financial Industry bailout plan" will pass, that's a foregone conclusion. Result will be a HUGE inflation, if not hyperinflation and death of the dollar. Don't think for a minute that the shills and running dogs putting this through don't know what they're doing. They know all right, and they're doing it on purpose.
Occam's Razor demands the simplest answer to any riddle, so we ask, Could they really be that stupid, stupider than any other humans who have ever lived? Or, Are they doing it on purpose? Simplest answer says, On Purpose. Remember it when the time comes.
Get out of stocks and dollars, and into silver and gold.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.