Thursday, May 26, 2011

Dollar dollar, yo

11:35 pm (Hawaii) Trader Dan and Turd Ferguson chime in. Will you listen?

Dan Norcini: US dollar running into some selling (May 26 2011)
Turd: Expect silver to rally back toward 38 overnight (May 26 2011)

As the islands enter the midnight hour and those of you on the East Coast bring in the morning sun, I leave you with these feather-light thoughts.

1. President Obama has a sizable chunk of his net worth invested in US Treasurys.
2. China operates a gold futures instrument now and it trades 15 hours per day in Hong Kong.
3. A silver futures instrument will be available in Shanghai by the end of the year.
4. Since gold futures trading opened in Hong Kong on May 18, spot gold and silver are up, and had been up almost daily until Wednesday's overnight takedown by the CME Mafia.
5. China, India and many other emerging-market central banks and/or investors are still buying gold and silver in massive quantities.
6. China is also unloading the bulk of its US Treasurys.
7. The last time Europe faced default possibilities, investors flocked to gold.
8. The last time there was a 3-day holiday weekend, the CME Mafia torched Spot Silver price.
9. Nobody can honestly tell you what spot prices will be on Monday or Tuesday or next year.
10. The fundamentals of physical silver remain. Demand will outweigh supply.
11. If and when the laws change (overnight), how far can any government go to take precious metals from the populace?

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