this may have something to do with it actually http://www.bloomberg.com/news/2010-...bs-in-november-unemployment-rose-to-9-8-.html Unemployment in the US up to 9.8%
end of week here in LA and looking at $29.38 kitco spot. Nice solid landing for a good week!!! The train is leaving soon, hope you got your ticket!
Nice numbers for close but the AUD went up too. So the net effect for Silver in AUD price is about the same. Eagerly waiting to see Mondays open. Should be a big week ahead. Slam
Don't worry about the unemployement number. I believe 2m people will run out of unemployment benefits by the end of the year. So, the unemployment numbers will magically improve as these poor souls are no longer counted as unemployed.
I know how that feels. But last week I bought up big. My first big purchases since the last breakout as I dont see any more possibility of 23-24 with the European, American and soon Chinese troubles. I think 2011 will be remembered as the year China suffered its "great tumble backwards".
Why is that dccpa? Is there a time limit to how long a person can get unemployment benefits in the US or is it because they would've starved to death by the end of the year?
Thats how they do it here too I believe. You are only considered unemployed if you are registered actively looking for work. Once you drop out of that system you are uncounted.
When I was there, unemployment benefits were state based. Varied state by state as to the entitlements and how long you could get paid them for.
Hi all, I personally don't take any notice of the official government stats as they don't always tell us the real story. For example, the "real" unemployment rate in the US is currently above 21%, and if you want to get a true indication on how the US is traveling, the best place to go is http://www.shadowstats.com This is just another reason why I'm very bullish on the price of silver/gold and (IMO) why the PM's are going much, much higher in the future. For the record, I own physical gold and silver, as well as asorted gold stocks, and will be adding on the dips (if they come). Cheers.
There seems to be a lot of contradictory information coming out of China. On one hand you have the government released statistics, which always land precisely as forecast. On the other hand you have a constant stream of anecdotal information talking about insolvent banks, runaway inflation and a building bubble that is primed to pop.
Now, let me put this question to all. If the US economy is collapsing or is about to collapse, then why would precious metals go much, much higher? Wouldn't an economic depression cause the prices of precious metals to trade lower? Common sense would assume so, and that is why I don't see much upside movements in the medium-term. We will continue to see blow-off-top activity that will just get cut back down. Remember, we had a blow-off-top in Nov. Seems another blow-off top is forming by the looks of it, and that will ultimately revert to the mean. Now, if we're talking a couple of years off, then yes, I am extremely bullish on precious metals, especially silver.
Ok benjamind2010, are you still as certain of the following as you were back in October. http://forums.silverstackers.com/topic-3730-is-it-too-late-to-buy-silver-page-2.html benjamind2010 claims the following to be certain * The most silver could reach is about US$27 an ounce, so if you buy a silver ETF, it might be good * Well, there is no way the AUD will ever test parity against the USD again * From 3 Nov 2010 I expect silver to retrace all of it's last 6 months of movements in the space of...umh, let's say 6 to 10 weeks tops
Here is the gist of it. 1. The amount of paper money in the world dwarfs the nominal value of gold and silver combined. 2. There is a paper money, paper debt crisis unfolding. 3. In a collapse of paper money it reverts to its intrinsic value ie. cellulose fibres, cotton fibres, polymer plastic etc. 4. Precious metals reclaim their role as money. Their real value is unveiled to a stunned sheepulace. 5. Those believing in Prechter are wiped out. Gold is forever. It was money, is money and will always be money. One day you'll see that Prechter is just another charlatan selling his own brand of snake oil. Gold has already embarassed him many times over. He's hanging out for it to collapse to claim victory but he's already a loser. A big loser.
US economy collapse will remove the unit of economic stability - the US dollar. When that happens there will be a giant rush to safety - Euro? hardly. Then the other solution is the money of the ages, gold. Then everyone realises the next mony of the ages, silver. (though I agree, in the short term price of silver will crash as a commodity before the popular mindset recognises it as money in which case it will be very sought after. Then every physical item and commodity that has any sort of value will be traded whilst the world's governments restablish law and order and trading terms with other governments and agree on an electronic unit of value. Which everyone will believe will work and so they'll go there. Times of tribulation I'm afraid.
