Along with silver, has anyone noticed that OIL is down over 10% today ! Also the Dow was down over 100 points earlier Other commodities are in hard sell offs: wheat and grains, cotton, cocoa, coffee Huge down moves
Umm... yeah. The dollar is recovering strong. It's pretty straight-forward that all commodities would be down.
I read a report somewhere (don't remember where, so don't ask) that said raising the margin requirements could spark a commodities sell off, as silver is lumped into many mutual funds.
Hmm. We have an economy where the wealth of the country is so concentrated that 10% of the GDP comes from just 400 people. Meanwhile the number of people on food stamps has risen to a new all time high, close to 50,000,000 and new jobless claims this month was just under a stunning 1/2 million people. The huge corporations, banks and wall street continue to steal from the taxpayers, throw people out of their homes, and break the laws with impunity. There is no recovery.
It's better that we're....better than where we were yestrday. If you think the dog will bite you, you'll be happy when he craps on your shoe.
It wasn't intended to be sarcasm. 1 basis point movement in the dollar is HUGE. It's up .0128 Euro... which works out to something like a 22% upswing on margin in the money market. Given momentum, I'm sure that a big part of the down spike in commodities was due to shifting money on USD. That said... I think _now_ is a good time to start acquiring silver. Maybe 15-25% of what you plan to invest. If it reaches 26 (which it might not until October), then it would be time to purchase the other 75-85%.
I think the dollar's temporary bump is mostly due to the excitement over O.B.L's death. People figure there is a little more stability in the Middle East and that has driven oil down, in my opinion. However the market hasn't changed. The ridiculous national debt and deficit hasn't just suddenly vanished. Unemployment is getting worse. Taxes are getting worse...for Pete's sake, now they want to record and tax every mile we drive in our vehicles. I'm going out and buying a lot of silver tomorrow because the dollar's death is inevitable.
There is, what is lacking is political courage. The malaise we see today is simply due to government intervention in the markets. Housing would have recovered and put millions of people back to work if the government simply allowed the correction to take place. People were greedy and make poor bets on an asset, they should take the loss and allow the market to recover. Instead, the US intervened and has drawn out this correction for years versus a year it would have taken. This is why economies improve so well when it is deregulated. This government interference almost never helps, it only hinders free markets from creating wealth and helping everyone. Remember those 400 people you talk about employ millions of Americans. Do you really think taking that wealth away will do anything other than forcing massive layoffs and feeding the coffers of whatever political party does it? Don't begrudge wealth gain honestly, admire it and try to emulate it. People should not try to pull successful people down, they should try to rise up to become like them. People being thrown out of their homes either paid too much for an asset, or borrowed against an asset they pledged for collateral. They are not innocents, they made the financial transaction. Hey, if there was illegal things done I am all for stopping a foreclosure, but most of these are simply bad purchases made by people, and in a free market mistakes has to have consequences, or we will be living in socialism where everyone makes $10,000 a year due to no incentive to do better.
