Wednesday, July 15, 2015

What Is Happening in Precious Metals?

Every one of us who own precious metals have been subjected to one of the most manipulated bear markets of all time. If you are somewhat emotionally normal, the damage has been intense. Like many of you- I have lost credibility with friends and family.

While a share of that sexy, growth stock Whirlpool fiddles around at nearly 200 bucks- the price of silver has been cut nearly 70% since the April '11 highs.

On message boards everywhere- PM owners are disgusted, frustrated, and angry. Never have they seen so much worthless fiat currency masquerading as "money."  Debt levels are obscene. The PM bear has entered it's 5th year. It's almost over. We have one last, blood in the streets phase to endure- it's playing out right now and I expect it to get worse and wash out the last, weak hands in the early fall.

A little over a month ago, I bookmarked the page of a guy who makes a lot of sense to me. In fact, I actually sold a little gold around 1220 based on what he said and I am expecting to buy it back around 950-1050 level and add more. I believe silver will sink to 12 and present the best buying opportunity of my life.

We only have about 7 more weeks worth of carnage. Here's that bookmarked page from Gary Savage. So far he's been dead on. http://blog.smartmoneytrackerpremium.com/2015/06/gold-surviving-the-last-few-months-of-the-bear-market-part-ii.html