Bill Murphy calls for silver at $400 : ...well if you are looking to what James has said if you are looking for 400 dollars ( silver ) the answer is yes , and as I mentioned earlier and I talked about a lot this year I think we are into an unprecedented situation there is no telling of what gonna happen over night , even today , having done this all day everyday for twelve and half years now it is just stunning but what I have heard the price did because they know that this is following Ben Bernanke's press conference and what the FED had to say , this is a massive obvious repudiation of that , this is the last thing that these people want so , and the more the gold price goes up the more the average person says I want to buy but I cannot afford gold so I want silver and the short position is getting strangled and it is getting worse ....James Turk : ...as long as Gold Silver ratio is higher than twenty Silver is cheap , and as long as silver is in backwardation , Silver is cheap , or something else can happen which is something that we all have to consider the paper market is going to lose its importance as price discovery mechanism it goes back to my comment at Mises about government and politicians destroying the market but they do not understand how they work , the paper market is being destroyed that's what backwardation is telling us , it's no more reliable you have to look what's happening in the physical market , and the physical market is unbelievably tight , because there is just a little amount of physical silver and a huge amount of paper out there.......
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Wednesday, June 8, 2011
The 10.000$ gold scenario with James Turk and Bill Murphy
Bill Murphy (http://gata.org/) : I do not want to live in a world where there is no free market , where the Chinese have more free market economy than we do in reality no free press ...that's what it is leading to this mess ....all I know is when this happens I rather have a lot of gold and silver in my pockets so that myself and family and friends can cope with what's going on while everyone else is panicking .....
Bob Chapman : JP Morgan owns the US Government
Bob Chapman - National Intel Report - June 7, 2011
Bob Chapman : ...within six months to two years the Mexican peso will be backed by with silver , Mexico is the second largest producer of silver in the world that will put Mexico in a whole new ball game ....China and Mexico are the two countries in the world encouraging their citizens to buy physical gold and silver
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