• Gold: 1,259.06 3.26
  • Silver: 16.11 0.07
  • Euro: 1.179 0.004
  • USDX: 93.688 -0.244
  • Oil: 57.49 0.23

Silver Grumps

David Bond
|
Wednesday, June 13th

The Wallace Street Journal

Wallace, Idaho – Boy, you want to piss some folks off, just type a bit of pessimism about the immediate-term prospects for silver prices, as we did in a recent rant. Our tirade appeared on LeMetropole Cafe, SilverSeek, and of course our own site.

“Traitor,” thundered one correspondent, who runs a silver-mining company.

Another wondered: “Your idiotic call on silver is just that. Why not write something insightful for the reader instead of this BS to get people emotionally triggered. This is a tough market already and shmucks like you should just keep their trap shut. . . Frankly, I am surprised GATA let you publish this nonsense!”

And these missives were from friends. Thankfully our silver-hating enemies are too incoherent to fire up a computer sufficiently to blast off hate-mail or our Linux-running Dell would have melted into puddles – or worse, reverted to Windows.

Lissen up: We live in the world's grandest silver-mining district in the United Snakes, and our website, coming up on 10 years' running, is called Silverminers.com. We live, eat, drink and swap lies with silver miners. We think gold is for sissies.

But for anyone who has been around this market more than six months, it should be painfully obvious that Lady Silver takes a major hit now and then. If you were around in the 1980s bloodbath, you can still feel it, in your bones and your boots.

We took a hit of 30 percent in the 2008-2009 banking debacle and it is not unreasonable to be ready for a similar blast downward in September, right before the U.S. Petrodollar formally ceases to exist. The banksters will short us, just as they did in 1979, in order to pick the pockets of the sheeple. People tend to dump their static assets in favour of their interest-bearing crud. Attention, Class: Silver and gold are static assets. They are constants. They don't actually move much. What happens is that the metrics by which we measure Silver and Gold jump around like horny ticks on a hot dog. It is the fraud of the 20th and 21st Centuries.

Europe will fold this summer. This will initiate a flight to the U$D. As the dollar strengthens, gold and silver will, by U.S. Dollar measurements, falter and if you're stupid you'll sell. Only the smart will buy. Then, according to informed sources, sometime this September, the Petrodollar will fail. Our friends in the Mideast, and in Asia, will want gold and silver for their precious commodities.

And those holding gold and silver will have all the survival kit they need. Just sayin' that between now and then, we are going to get savaged. Gotta shake out the weak sisters. Apparently, my correspondents are amongst this crowd.

Just sayin' . . .

David Bond, Editor

Silverminers.com

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