Tuesday, December 02, 2008

Thinking About Buying Silver or Gold Ever? Better Make It Quick

Gold Price Close Today : $781.30
Change: 6.70 or 0.9%

Silver Price Close Today : $9.59
Change: 24 cents or 2.6%

Gold Silver Ratio: 81.47
Change: -1.375 or -1.7%

Dow Industrials: 8,419.09
Change: 270.00 or 3.3%

US Dollar Index Today: 86.56
Change: -0.50 or -0.6%

The SILVER PRICE rose 24 cents today to close at $9.59. The GOLD PRICE rose $6.70 to $781.30. Look at the gold and silver price charts and you will trace out a series of higher lows -- definition of an uptrend. Every passing day re-confirms those November bottoms.

If you are thinking about buying silver or gold ever, then better make it quick. A rally has already begun that will stretch to next spring. Once the public catches on that they have already been had, that the inflation is unstoppable, they will run into metals. My experience of the last 3 months makes me think that very few of them will find any to buy.

In what is, I contend, the most perfect song of the last 50 years, "Lying Eyes" by the Eagles, the girl asks herself "how things ever got this crazy". I bet Ben Bernanke and Hank the Honker Paulson hum that song to themselves under their breath all day long. Even as much contempt as I have for the Fed and the yankee government (brother, that's a deep well) would never have envisioned the stunts they are pulling these days: bail-outs, hand-outs, pass-outs, burn-outs, and snuff-outs amounting to $8 trillion, half the US GDP. And every day Buckbuster Ben announces another new "Facility" for $300 to $800 billion. Of course, the Fed (or more precisely, its owners) always ran the government, but they always did so behind a mask. Now the mask has been ripped away and they have completely taken over. But they're going to change the old Nazi greeting from Sieg Heil! To Geld Heil!

I reiterate all this to press upon your mind with the greatest possible weight that the US economy has been hijacked by tapeworms who will destroy both the economy and the dollar. The end draweth nigh.

Today the US DOLLAR INDEX dropped more today than it rose yesterday, and closed at 86.55, down 50 basis points. That begins a series of lower tops,i.e., a downtrend. The rally has ended. Get out of dollars, quickly and deliberately.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger

"Buy Silver and Gold Coins at:"

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.