Monday, May 16, 2011

US Government dipping into tax payer pensions to fund Government operations

I've been mentioning that the pension cutbacks and retirement plans that have been modified in the ailing countries in Europe etc, would come to North America, well here it is :

So more taxes, higher inflation and now retirement plans stolen from the worker, whats next?

Tuesday, May 10, 2011

Posted this back in November 2010

"Folks I'm not taking profits on my silver that I started accumulating in early 2009, we will see $50/ounce guaranteed and then $100 ounce and I think we could finally top out over $200 a ounce pretty easily before this bubble pops.

In no way is silver in a bubble right now but when its get to over 200-300 a ounce is when profit taking should take place. Even at $50 I would take some profits before accumulating more for the blow off top later around 2015"

Predicted this on my blog back in November 2010 when silver was at 25 dollars per ounce.

I hope all my readers profited nicely from it, cheers!

Please do my new poll on the right side of the page!

Monday, May 9, 2011

China bypassing the US Comex

If you haven't heard China is opening their own Commodities Exchange bypassing the corruption in the US Commodity Exchange.

It will be opening next tuesday in 9 days!

The Hong Kong Mercantile Exchange (HKMEx) has received authorisation from the Securities and Futures Commission and will make its trading debut on May 18, 2011

The ATS authorisation grants HKMEx the right to offer market participants, through its member firms, the use of its state-of-the-art electronic platform to trade commodities. The Exchange will begin trading with at least 16 members including some of the world’s largest financial institutions as well as several well-established brokerages in Hong Kong.

“We are very excited about this historic day. It allows us to establish a liquid and vibrant international commodities exchange based in Hong Kong, linking China with the rest of Asia and the world,” said Barry Cheung, chairman of HKMEx. “Global demand for core commodities has in recent years been driven by Asia, especially China and India. However, market participants in the region have had to rely on Western exchanges for price discovery, bearing the basis risk exposure in the process. Our new platform will offer Asia a bigger say in setting global commodity prices. It will also enable market participants to more actively manage their risk exposures, using products tailored to Asian market needs.”

Now silver will find its real price! Make sure you buy on this dip if you haven't already, anything near 30 is a great buy, they had to raise margins to drop the paper price, physical price hasn't dropped much, still people are paying over $40 an ounce for physical!

With silver being traded "freely" on the Chinese Comex we should see silver find its true value for once, I'm guessing it will be slow start at first but eventually we should be getting close to $75-100 per ounce

Keep on stackin'

Thursday, May 5, 2011

Sell in May & Go Away

Right on schedule, May 1st, Osama Bin Laden is dead and market tanks and hasn't looked back

Silver down 30% being the top performer for over a year 30% is a nice haircut either way, but it healthy long term for silver. Buy near 30 and under if you can get it. Expect 75-80 on the next run up. Reason why silver has dropped so fast is that the Commodities Exchange has placed higher margin limits on traders in the futures market, alot of speculators have been "kicked out" of the silver trade because they do not have enough money to cover their margin (borrowing) accounts. This is also very healthy for silver long term, less speculators the better for sustainable real growth in any asset.

Lil tid bit of info Adolf Hitler was declared dead on May 1st about 65 years ago or so. Nice coincidence.

Obama needs to stay in office I guess for another term, Ron Paul is gaining ground so the powers at be are hanging on by a mere thread, any news is good news for Obama at this point.

All commodities hammered since start of May except for orange juice, go figure.

Remember the quicker and harder they fall the more important they will be on the next major rally. Silver totally led the way down last sunday in Hong Kong. Expect silver to be a huge gainer throughout the remainder of the year after this correction commences.

Who said war was a bad thing, if your a oil company leader or defence contractor you have made millions off of the war, no wonder when they "declared" Bin Laden dead oil has dropped over 15% and the stock market hasn't made a up day since.