“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)


"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people. Source – The Declaration of Independence

Friday, April 29, 2011

Silver knocking on the door of $50 again

The market has rallied strongly since the comments from Fed Chairman Bernanke and the press release of the FOMC but has not been able to move above $50. It will need to do so rather soon or it does run the risk of stalling out here and setting back as some longs will get disappointed and book profits, particularly if the silver mining shares do not perk up soon.


Posted by at

5 comments:

  1. Just a heads up to the herd, London is closed today and Monday for the Royal Wedding.

    ReplyDelete

  3. @rahbii, maybe that will be the x-factor and allow for a run up past $50. With the World Reserve currency on its death bed, the arguments against physical gold and silver ownership is simply retarded.

    ReplyDelete

  4. You can be sure they'd try hard to paint a double-top here, especially at this critical 50/OZ level. No matter how in-effective it is they'd have to try it since they don't have many tricks left.

    ReplyDelete

  5. Looks like $50 was an intermediate top!

    ReplyDelete

Subscribe to: Post Comments (Atom)