Loading ...Exactly…this is of course why owning physical gold and silver is a financial survival necessity.
It’s ironic it’s going to be the younger generation over at Wallstreetsilver that finally wakes up the sleeping masses to gold and silver, and the roles they play in the financial system.
Since I first posted about them about a week ago now, they have gone from some 60k silverbacks to over 75k, meaning growth rates are accelerating.
And while the paper pushers maybe able to engineer a pullback in coming weeks, which could slow the process, one thing should remain clear to all, the cat is now out of the bag – and that this is like investing in bitcoin when it was just a few measly dollars. (BTW – anybody who doesn’t trade their crypto-crap for silver right now is an idiot – do the ratios – it’s easy.)
What’s more, it’s easy to see that no matter what short-term setbacks come along, at some point in the not too distant future the idiot bankers will in fact run out of physical – and the fractional PM market jig will be up. Just go to Wallstreetsilver and look at the good work on this subject. At the beginning of the year I pondered the timing of the (momentum) bottom in PMs this year would be similar to that of the year 2000 and I am still of that opinion (in late fall – perhaps after a stock market crash). Paper market gamblers are still affecting price profoundly however this influence is waning and will become moot when the public is no longer able to buy physical (later this year?). (i.e. then they will want it.)
As you can see above prices are getting ahead of GDX gambler shorting ratios right now, so again, a short term pullback is likely as we approach options expiry in two weeks.
But this will simply give silverbacks an opportunity to accumulate at lower prices – so keep buying.
And keep spreading the word about the Wallstreetsilver movement – the fun – the money being made – and putting the bankers back in their box.
Because as long as those a$$holes maintain the monopoly on their free money the bull$hit will never stop.
Cheers all