With fierce action in the gold and silver markets, today King World News interviewed John Hathaway of the Tocqueville Gold Fund. When asked about the smash in the metals Hathaway stated, “I think people go crazy over these price changes and I understand that. I understand how it affects the psyche and all that, but the idea is you have physical (metal), it’s an asset. Whatever it’s valued at one day to another in paper money is irrelevant, you don’t price your house every day.”
When asked about silver specifically Hathaway had this to say, “My instinct is that this was too quick for this to be final. It’s like a haymaker (in silver) and it knocked everyone for a loop. Could it go to $30, could it go to $28? Yeah I suppose so, it could, but it wouldn’t bother me.
The long-term fundamentals for silver are no different at $35 than they were at $45 and what they were at $15. It’s a hard idea to get across, but I think people get too wrapped up in current price action.”
When asked about gold Hathaway remarked, “Well gold has hardly corrected. I thought silver by comparison was very spikey and for it to go to $60, it couldn’t have done it from $45 without doing this first. This is just a correction for gold that may not be over, it may take more doubters. It’s a shakeout, we had this huge run and a lot of investors and traders probably got in too late if they were short-term in their thinking, but that is not the big picture.
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Banking in darkness – FDIC system insures over $7 trillion in deposits with a dwindling insurance fund. Americans are offered close to zero percent interest rates to stuff their money into this banking vortex.
Read More HERE..
When asked about silver specifically Hathaway had this to say, “My instinct is that this was too quick for this to be final. It’s like a haymaker (in silver) and it knocked everyone for a loop. Could it go to $30, could it go to $28? Yeah I suppose so, it could, but it wouldn’t bother me.
The long-term fundamentals for silver are no different at $35 than they were at $45 and what they were at $15. It’s a hard idea to get across, but I think people get too wrapped up in current price action.”
When asked about gold Hathaway remarked, “Well gold has hardly corrected. I thought silver by comparison was very spikey and for it to go to $60, it couldn’t have done it from $45 without doing this first. This is just a correction for gold that may not be over, it may take more doubters. It’s a shakeout, we had this huge run and a lot of investors and traders probably got in too late if they were short-term in their thinking, but that is not the big picture.
More Here..
Banking in darkness – FDIC system insures over $7 trillion in deposits with a dwindling insurance fund. Americans are offered close to zero percent interest rates to stuff their money into this banking vortex.
Read More HERE..
Verily I say to thee, buy silver or perish, flay & salt rothschild Inc and make a bundle, sweetest deal ever
ReplyDeleteSilver as an investment is only a means of saving and storing wealth that might be used in the future as money in commodity exchange.
ReplyDeleteAs a source of potential capital for investment in a productive economy it cannot compete with fiat paper issued by central banks at zero interest rates to favored banksters
As long as that fiat paper issued as debt is accepted for payment of taxes as the only legal tender by the government.
4:14 ABSOLUTLY !
ReplyDeleteBeen trying to get that point across to people
for 20 years!
The fiat system cannot be trumped; as they hold
ALL the cards and can and do manipulate as
needed.
People here cannot understand how worthless
paper can work - it works because of your last
sentence.
And, oh by the way; the beauty of their usurping
ways and means is that it can be inflated basically into infinity.
By no means are these gangsters stupid. And once
again, you play by their rules or suck hind tit.
If the fiat money system collapses as some believe that it will, than the economy has collapsed and Gold and Silver are nothing more than shiny paper weights. I don't know why people do not understand this? Unless companies will begin paying their employees with Gold or silver coins every pay period (WILL NOT HAPPEN) than you might as well board up every place of employment because who is going to work for free? If we got to this point, I wouldn't trade a cracker for a handful of gold coins. They would be worthless in my mind because at that point, only the necessities of life would be important and valuable. Just like in the siege of Leningrad, people were trading their gold, their jewelry, their art work for a single slice of bread.
ReplyDeleteI'm not surprised at all at the drop in Silver. The last few weeks when I saw the media talking non stop about silver, when I heard the predictions of it going to 75, 100, 200 dollars the first thought that hit my mind was, this is exactly how a bubble plays out. It always ends in euphoria with people stampeding to get in And as always, you need a huge group of people who believe almost religiously that their investment "is different". Really, silver has been between 5 or 6 dollars for decades and now for some reason some people think it is worth 50 or 100 dollars? Why?
No one in the MSM hypes silver. They hype the everything is OK keep your money in the bank lie. Why? Because the banks ARE the MSM.
ReplyDeleteDon't worry, there aren't bank holidays coming.
Silver WILL be $60 by December. The dollar is doomed and so is this Ponzi economy.
748 - You are completely CLUELESS about what gold and silver truly are - REAL MONEY. That is the role they have played for 5,000 years. Not a SINGLE fiat currency has survived more than 200 years. Go read up on the history of gold and silver AND the fundamentals of these markets before you post more moronic comments on this blog. People like you who don't even have a basic understanding of money and the role of gold and silver will be completely WIPED OUT during the Coming Depression. Good luck, chump!
ReplyDeleteSilver is not like gold
ReplyDeleteSilver is first an industrial metal
Gold is a pretty thing to hold
As "money" the 2 are worth what people "think"
they are worth.