A Metaphor, of Sorts…
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Let that header sink in for a minute. Then read this piece from the Indians. They’re buying gold too.
This week can bring us a near term peak, and I don’t want you to panic in either direction. I don’t want you to go insane buying gold and silver you don’t already have next week, as I believe we are perilously close to a dollar bottom.
This evening, we are also very close to $30 an ounce on silver, and we just broke $1,400 an ounce on gold. These are significant levels that should not be tossed aside on a near term basis. I think we will burst past these levels, but only temporarily, and then we will retrench.
But don’t get me wrong on the ultimate course here. The Chinese are buying gold. And they will buy silver. And they will buy platinum, too. And in the process of this accumulation, I posit they will make BIDU look like some bland utility stock before this is all over.
However, I don’t want you all getting off on the wrong foot– especially since Le Magistrate has given you all the green light on silver surger EXK. Now is the time to be wary as we are reaching overbought levels on multiple fronts. There will be a time to gorge oneself on silver miners, but now is the time to sip… sip… sip.
Like a butterfly at a nectar font, you must sip. And keep in mind the auto accidents, eh?
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EXK looks amazing. Well done ovah here.
Grazie, mi calabrese!
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WRONG AGAIN.
Silver is going straight up, no stops.
wrong AGAIN , while it’s never been wrong
ah ah
He must be talking to someone else, as I’ve never been wrong.
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Except for where looking into global financial conspiracies are concerned. Either you’re too dismisive, or you are protecting yourself well. If it’s the second case, then your statement may be true.
LOL. I just don’t think anyone is that smart, that’s all.
Occum’s Razor is my friend.
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Purchasing power of the US dollar is down 95% in a mere 3 generations. I just don’t think anyone is that stupid. I do however think that Freud’s nephew has profoundly hoodwinked the vast majority of intelligent people. http://en.wikipedia.org/wiki/Edward_Bernays
Sounds like a terrible guy:
In the 1950s, some of his ideas and vision helped portray India as the Democratic Republic of Southeast Asia by having the People’s Congress of India adapt a Bill of Rights. Freedom of the Press, Freedom of Speech, Freedom of Religion, Freedom of Assembly, and Freedom of Petition were added to the constitution of India.
Imagine, trying to institute constitutional freedoms on an impoverished country of 1.5 billion? What was he thinking?
Besides, he worked for Silent Cal Coolidge (Amherst ’88)… and made up the term “banana republic.” How bad could he have been?
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You really believe we are close to a dollar bottom? May I, also, ask why?
Not a long term bottom, just a temporary cycle low. Long term low will not be until we break through the 70’s altogether on the DXY.
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Thank you
at 2:06. The driver is looking right at the pedestrian, then proceeds to turn right into him and chopblock his knees. How does that happen? What sort of mental process is involved in going 5 mph and hitting a pedestrian that you’re clearly aware of?
Noted that… I think it was some kind of game of chicken, or serious Chinese Load Lage.
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Yea but who hasn’t wanted to do that while trying to leave a ball game?
The whole video was entrancing…just can’t look away. I was surprised at the resilience of some of those bikers who were trashed.
My thoughts exactly… like the fuggers are rubber or something.
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Maybe he recognized the pedestrian and realized it was his neighbor who never returned the chop saw he lent him 6 months ago. And maybe the driver’s wife has been nagging him for the last 3 months about finishing up the trim work but he can’t because he lent his chop saw to Ping Pong who lives down the street and Ping pong hasn’t returned it yet. And despite several phone calls, Ping Pong still hasn’t returned the chop saw. So when the driver approached the intersection, he saw a guy on the bike and said “Hey that’s that fucker Ping Pong, who still hasn’t returned my chop saw”.
So he knocked his ass off his bike.
lol
Damn those torpedos! Full steam ahead!
this tape of them driving,is a testament to what all pro drivers have been joking about for years, THE ASIANS ARE THEE WORST DRIVERS IN THE THE WORLD. and will remain so for yrs to come. in the last yr,while driving, i had one pull a left turn on me at point blank.at the time it happened,i only wished that i was in my tractor.i would have rolled right over him,and would have done so with a smile on my face.
Indeud!
Not true of Japanese for some reason.
the japanese have been driving for 6-7 decades, the chinese have been driving for like 6 months.
I have no sympathy for anyone riding a bike while carrying an umbrella who gets popped by a car.
Been buying physical silver for 6 months now and most of it below $21/oz thanks to Jake’s postings. Also own a lot of EXK in my accounts and my kids accounts, again thanks to Jake’s postings.
Just bought 2 kilos of Copper on line for shits and giggles. Want to see what they look and feel like, they should arrive this week. I know JP Morgue has been buying and copper and through time copper always had a place as a currency. Will post again when they arrive.
Treepart! Where the hell have you been, man?
Hilarious about buying two kilos (about 5 lbs or so, right?) of copper… what is that … like $30??
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Soup to nuts including delivery, $44 American dollars for 4.4 pounds. I wanted to get a feel for what they look like and feel like and I also plan on pranking my kids by sticking one of them each in their stockings for Christmas with a note from Santa to “Keep this bar of gold in a safe place”.. If copper continues to go up, which I feel it might, I might buy 50 bricks and stick them in my basement. If Silver is the poor man’s gold then Copper is the homeless man’s Silver.
As essentially every good fantasy novel has taught you. Well done.
Oh you mean the same fantasy novel that discussed copper going from $3/lb – $4/lb from July of this year to the present date? Copper is skitching Silver.
Just that it was used as the currency for the poor due to its relative abundance. Gold = Up Silver = Up Copper = Up.
The ratio should be the same (or better for useful metals like copper). It’s all going up relative to fiat currencies.
on the contrary old chap, the USD hit major resistance last week and I think its just in the beginning of a prolonged decline
also note oil is about to finally break out with a target price well over 100 which helps support a declining dollar
add in the holiday season window dressing and the next few weeks > month is about as easy as “free money” being long equities as it gets
PM’s could really get going here
my opinion is not advice
Looks good, true. I’m still trimming.
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Living in Calgary (where we have a large Chinese population driving around), I feel well placed to make some sort of comment related to the fantastic video posted above. I will refrain.
Kudos on flipping the Fly via Mary Poppins!
Deflation to inflation to be specific.
you guys are up 30% on your latest buy of EXK from 2 weeks ago, just curious if you are going to be taking profits soon or do you think it has more here?
But the Chinese are buying gold.
Getting off the Silver train now would be like buying a train ticket from New York to Los Angeles and getting off in Bumfuck Tennessee.
I just got some. I’ll be holding until the little guy Joey Bag-o-coins enters the market in a big way.
Mr. Gint, congrats on all of our victories this past year. I admire your investing prowess and the fact that you seem to operate with a moral compass.
Why, thank you!
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INDEUD, to all of Mr. Gint’s sage counsel.
I am taking my foot off the gas here. Slowly unloading all my AGQ, with an eye toward buying it back in January.
Me too. I am having my best month ever in just the first few days, loaded with silver & gold. I don’t want to push it as silver is sitting at $30/oz and gold at $1400/oz and the JakeGint calling for a dollar bounce.
I’ll take my profits, enjoy my holidays and come back to reassess in January.
Many thanks to the JakeGint for his excellence.
Sold more AGQ today…. $154.13, just unbelievable.
Also sold some EXK @ $7.29
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Unloaded 1/2 on all the rippers: EXK, PAAS, SSRI and raised stops up above the purchase price on all the rest except IAG. Plan to buy back the 1/2 sold today on any significant dip.
Thanks Jake. Now it a win win no matter what happens.
congrats Mr. 50!
Thanks kohai. I may just be starting top get this.
Is that a picture of you with guitar? My sons a guitarist for Hail The Black Dragons out of Chicago.
Hawaii – I’m always happy to see people do well here – it’s inspiring. I feel lucky to be around it and learn. Jake is a pretty gracious host no? Just unbelievable and so very generous.
The photo is actually Mr. Jeff Beck.. same as my ppt avatar, one of my many musician heroes. Will check out your sons band, how cool! best to you.