Starting yesterday [May 1st...hmmm, May Day? The annual Socialist fantasy-fest celebration?] the Silver market was clobbered by what some would call a "massive orchestrated raid" but is better referred to as a blatant "running the stops" effort to trigger the stop-loss/stop-limit orders in place to flush-out the weak hands in the silver bullion market.
So, WHY is this man smiling?
The Bernank and JP Morgue would like you all to sing along now with Blythe Masters:
"Paper GOOD. Metal BAD. Paper GOOD. Metal Bad."
[repeat as needed, happy comrade workers]
Monday 2 May 2011
Repeat as needed......from Rico
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See, I saw $50 spot prices last week and sold my trifling stock of bullion on Saturday.
At $47 an ounce, cash in hand.
Raid, schmaid, it's a god damn asset bubble.
I saw it, cashed out (from a very minor investment at $5/oz. a decade ago), and walked - smiling - to the bank.
Correction's coming, even bigger than this, and then I'll buy silver again - for metalworking.
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