Gold Price Close Today : $841.70
Change: $6.30 or 0.8%
Silver Price Close Today : $10.674
Change: 8.5 cents or 0.8%
Gold Silver Ratio: 78.86
Change: -0.038 or 0.0%
Dow Industrials: 8,874.84
Change: 310.31 or 3.6%
US Dollar Index Today: 80.22
Change: -1.87 or -2.3%
The GOLD PRICE closed at US$841.70, up $6.30, until the Fed announced its "plans", sending gold up to US$861, another US$19.30. The SILVER PRICE, which had closed up 8.5 cents to $10.67, jumped 70 more cents to $11.37. The prices show for gold and silver items above derive from those higher aftermarket prices.
Today the silver price closed above the $10.50 first hurdle, but the gold price didn't quite make the $850 resistance. In the aftermarket, both metals shot through resistance levels, especially silver. Tomorrow should produce yet more gains.
Do not wait now to buy silver and gold. This is the breakout. Buy now or pay much, much more later.
Whoa! You men paying attention? Stand up where you are, twist your body to the right, place your right hand in your back pocket, withdraw your wallet, pull out a green federal reserve note, lift it to your lips, and KISS THE DOLLAR GOOD-BYE!
You women will have to fish in your purses ten minutes to find your wallets, then dig out a buck and kiss it good-bye.
Not only have the Fed and the Treasury executed a coup d'etat and taken over the yankee government entire, the Fed reduced the Fed Funds rate to 0.5%, lowest level in history. But in case that doesn't work, they also have yet another new strategy: "quantitative easing." That is "Fedspeak" for printing money. Let the presses begin! Let there be money, and let it flood the hills & valleys, yea, let it flow into the shallowest pockets in the land, and let the desert economy bloom!
Folks, if any of y'all yet cling to the "deflationary" outcome, you had best let it go today. Although the economic outcome will be depression, the monetary outcome will be massive inflation, and quite likely, hyperinflation. The dollar will evaporate, while silver and gold prices will skyrocket, unless the laws of cause and effect have been repealed by a compliant congress.
All bets are off, friends, for any sort of peaceful landing. Every man for himself! Today your government and the private corporation that controls the economy and the money, the Federal Reserve, threw you, and the US dollar, out of the boat, with an anvil tied to your feet. Every one of us had better learn to swim.
As proof, he brings forth the next exhibit, the US Dollar Index, which today posted its biggest swing yet in a mighty long string of big swings, down a full 186 basis points to close at 80.22. Mercy! This isn't currency exchange, it's Las Vegas. Stocks liked the lower dollar. The Dow rose 310 and the S&P500 37, but stocks still haven't broken out above the critical 9,000 Dow level.
