G & S Pullin Back It Seems....

I agree, Ian. At those levels, I would be doing some heavy duty buying.

I chose #2 since it is the closest to what I think may happen. I am still looking for $22 silver by the 24th of October.

By the end of the year silver should be back in the 40s after a dip into late October.

I am hoarding all the cash I can in anticipation of that happening. Regardless of the price, I am loading up on silver at the end of October. I just would like to do it at $22 rather than $30 or higher.

I'm buying at all levels. Just picked up 30 oz's of silver and 2 oz's of gold this week. Let it drop to 20 - I don't care.

Up today, down tomorrow. We may as well get used to it, because the government is in full blown " say something good even if it's a lie" mode. On top of that the press hates gold and dreams of a huge crash to report. We know what's really going on, and that's why we're here doing what we do. Like I said, get used to up and down until the afteruburners kick in. Maybe a scud missile into Israel or Greece getting kicked out of the EU. They are already trying to soft-shoe us into that one.

Even though I would love for gold and silver to drop back to what it was last year, I really don't think it will happen. So I chose the first option. There is too much turmoil in Europe now and it is not going away any time soon.

I don't buy it as an investment, but all collectors think about what their collections are worth anyway. I want the price to go down so I can buy more of what I want for my collection. The rapid rise has caused me to rethink my direction of collecting if nothing else.

Revisit what happened to the stock market this time of the year in 2008. This year looks like it could quite possibly be a repeat. If so, PMs should also repeat. Gold bottomed out at around $700 then after breaking $1000 a few months earlier. There is lots of support for gold at many levels below current prices. The "unbreakable" support is at $1000, but I don't see any way it could go that low.

Silver was not even on anyone's radar in 2008. Silver topped out around $21 in 2008, then in October bottomed around $9, less than half a few months prior. Similar scenario today puts silver under $25. There is extremely solid support for silver prices in the low 20s so not likely to go lower than that.

Regardless whether we see a major pullback next month, fasten your seat belts. You are going on a wild ride. Bush goosed the debt bubble and Obama added a turbo-charger to it.




That won't happen. The EU needs Greece even in the sorry condition she is in. Even if Greece tries to leave, the EU will not allow it.

Europe needs Greece like I need a toothache, IMO. The question that the Euros need to address is this, "How much more money will be tossed down this same rat-hole before the Europeans come to their senses and realize that there is no amount of money that will "save" Greece"? If they could answer that, they might have some idea of when to quit their current policy.

The government of Greece flat-out lied to the Europeans when they applied for EU membership. In most situations where one must file an application, such as for a job or a membership, lying on the application IS grounds for immediate dismissal. Is Greece a special case that they can get away with this? I don't know but it IS starting to look that way.

Note that Merkel is facing growing and significant political opposition and bailing Greece out is the primary reason for it. The German people are not fools. They KNOW money and banking. They also should be able to recognize a deadbeat when they see one. Not that Greece is alone in that category but they ARE the ones sucking up large amounts of ECB capital at the moment.

Well I think you will see G&S start to come up again today as the stock market crashes yet again.