Market Update

Today’s blog is about the overall state of the coin market. It appears that from all indicators that the bullion is making another run. On one business show this morning a key player in the silver market stated that we are heading to an all time high. The last run in silver was within one dollar of the all time high until the margin players were cleaned out. There are still people that are playing games and not paying for silver properly which were disciplined by the CME. Many prognosticators are saying that our government will default or be in devalue. What this means is they may have to stand on their own like we the consumers do, instead of printing more money and possibly having the press not give the true picture. The US dollar is very weak. The consumer confidence level just dropped again. The consumer confidence level is something the government cannot fabricate. When you mix the lack of consumer confidence in this latest report, a weaker dollar and the debt ceiling looming, we have a serious problem on our hands. In future blogs i will break down how much we have been using silver for industrial uses in the last 60 years. This will show you that once the industrial consumer sees the shortage, this should cause silver to sky rocket. A few figures that I have read and have heard on a few of the talk shows are saying $100- 200 per ounce. The all time high is $50.35 back in 1980 when the Hunt brothers were trying to corner the market. It's very possible this will be blown away this year. Thats all for today.