6:36 pm (Hawaii) I admire the staunch, sensible arguments in favor of gold and silver long term. The line of reasoning from one bull argument to the next make sense, at least to me. But even the big brains who understand the puppetry involved are on an extreme level, understandably so, to the point that I can't swallow entire arguments. Case in point is "Ranting Andy," who spells out the manipulative efforts of the powers that be in this piece.
However, I'm not about to simply buy physical just to buy it. I'm a little guy. I'm a shopper. I just want to get ahead rather than get swamped by inflation. I don't need to buy physical silver at 49 or 39 or even 34. But I have, in fact, at 34-35. I'm going to wait until Spot Silver drops to 30, if that, before I think about buying again. There's no rush. Sure, Spot could climb back to 49 sooner or later, but before then, we have QE3 or Bust to contend with. And if prices ricochet all over the chart, I'm going to pick my spot.
I'm not in position to be foolhardy. So I'm glad to hear about the educational aspects of all arguments, and I agree in full with many of them. But I'm shopping for myself, and I'm obligated to myself. I'm waiting, no matter how much chatter is out there about the need to buy NOW.
After all, if the CME Mafia wants to take Spot Silver to 19, they will. And if they want to ride it from 19 to infinity after QE3 is announced (maybe), I'll ride with them.
Update 8:34 pm (Hawaii) Well, well, there's more than the new gold futures on the
CNN Money: Obama's money: Heavy on Treasuries (May 16 2011)
CNBC: Soros dumped most of his (paper) gold stake: SEC filing (May 16 2011)
WSJ: Portugal's golden dilemma (May 16 2011)
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