Readers of this blog mostly are long-term gold/silver investors who are not concerned with intermediate moves in gold/silver prices except to use dips in prices as opportunities to add to their positions. Still, daily $1 jumps in silver and $20 jumps in gold are of interest to all precious metals investors. If nothing else, investors
In announcing that Ben Bernanke would be reappointed to a second four-year term as Federal Reserve chairman, the White House admitted that the US debt situation continues to worsen. The Congressional Budget Office (CBO) says the US debt outlook is worse than what the White House says. The White House projected that over the next
Silver usage in electronic devices to increase because of new technology. New, popular silver jewelry on market.
Treasury Secretary Timothy Geithner can’t sell his house. Maybe it because he is asking more than the $1.6 million that he paid in 2004 at the top of the housing boom. Housing prices are down, on average, 30% from the 2004 top. Any doubt but that some wealthy person seeking to curry a favor with
Gene Arensberg, precious metals analyst and author of the popular Got Gold Report, reiterates in his recent report his bullishness for silver. Although Arensberg is bullish on gold over the longer term, he sees the potential for more immediate upside action in silver. Arensberg notes that iShares Silver Trust (SLV), the largest silver ETF, lost
While the world is still trying to figure out what caused the housing bust, Meltdown, a short 162-page book explains it, laying the blame at the feet of the Federal Reserve System.
Future silver production to suffer
US News, a mainstream media publication if there ever were one, interviewed Congressman Ron Paul about his bill to audit the Fed. Amazingly, the magazine allowed the congressman to lay it on the line about the nefarious central bank. Although Paul would prefer that the Fed be abolished, he knows that bills to abolish the
As noted on this blog before, the IMF wants to sell gold to fund more international welfare programs but must have the approval of the US Congress before it can sell any gold. In a February 2008 post, I speculated that approval under a new Congress would be likely. Now, approval appears imminent. This week
Northwestern Mutual buys gold to hedge against declining assets.