Thursday, May 26, 2011

This Ass knows

9:24 pm (Hawaii) He's known as the Golden Jackass, but don't be deceived. He is smart as heck and his latest piece covers just about every key issue of the US economy's slow, inevitable decline. I'm not a subscriber and don't plan to become one. But this free essay is a great read.

Here, he writes:
The new Shanghai silver futures contracts are most likely not welcome to the COMEX and its Wall Street overseers. The common practice of ambushing the Gold & Silver prices overnight or immediately after hours in the late afternoon might soon come to an end. 
And this:
Expect no change to the 0% policy (ZIRP) with no change to the heavy monetary inflation (QE), as the path to ruin is set, and the policy of Inflate to Infinity cannot be stopped. Gold will not stop until it surpasses at least $5000 to $7000 in price. Silver will not stop until it surpasses at least $150 to $200 in price. Such forecasts invite mockery, but in two years they will seem prescient.
About CME Mafia:
Few are aware, but the events in the first week of May are what a COMEX default looks like, in its preliminary phase!!! JPMorgan could not meet the schedule of May silver deliveries, that simple. In time, the distance between paper Gold & Silver and physical Gold & Silver will be great. Then the COMEX shuts down, unless they act as a Cash & Carry exchange. Doubtful.
Golden Jackass via Goldseek via Silver Gold Silver: Green shoots, exit strategy, no QE3 (May 25 2011)

So what does this make Jeff Christian? Is he a jackass too? He's forecasting $26 silver.

(video) CPM's Christian forecasts silver at $26, gold near $1400 (May 25 2011)

No comments: