Dollar End is nearing, Silver & Market update Oct 8, 2009

[Deoptics8]

USD snapped right back today to 76.50 so now what?

[bullorbearreport]

After 4 days of the dollar decline I was sort of expecting a bounce in the dollar. This morning I actually shorted 1 Silver contract to hedge my physical Silver Coins I own. I shorted at 17.71 with a .20 cent stop. I expect silver to make a very short term retracement according to the technicals. If I can get a .70 cent or more pull back in Silver I will cover the short to lower my average cost of my physical silver.

[cosmicguerilla1]

nice one carl,

cheers !

[doc7474]

Rough times ahead..I just heard they want to pass a second stimulus. Pure insanity.

[kensho3]

what do you expect criminals to do? NOT steal money? :-) This "stimulus" crap is beyond absurd. I think they get a kick out of the fact that they just keep stealing trillions in plain sight and we don't ever do anything about it. The FBI, the Justice dept, Congress? They don't exist. They're useless, corrupt entities and they have sold this country out for a paycheck and a company car.

[1TheTruthChannel1]

Good Video.

[hiphopsocnroc]

Solid advise. Good job spreading knowledge.

Peace

[GanjaZombi2]

When do you think the markets will topple? At this point it's not IF but WHEN.

[thegreenfamilybooks]

Next stop for the dollar---73.365 then 71.55 next 70.80....then oblivion!!!!!

[rollsthepaul]

Web Bots say that panic buying of gold and silver will happen in January. They say silver will hit about $800.

[bullorbearreport]

Yes the 3rd phase of the Gold Bull market will be the panic retail buyers. We'll see how high it goes which entirely depends on the outcome of the dollar.

If they completely destroy the dollar that is possible but for $800.00 Silver, Gold will have to be in the $6K+ range.

At that rate any Gold Miner Stock or ETF will go up probably 1000% from here. 10K investment will go to 100K. Not too bad.

[rollsthepaul]

Bread will be $25.00 per loaf and gas at $20-30 per gallon because the collapsing dollar will hyperinflate. What is that gold and silver really worth when it comes to the cost of living? Better put up plenty of supplies so you don't have to buy the hyperinflated stuff.

[bullorbearreport]

Gold/Silver is priced relative to all other goods. So today 1 oz of Silver can buy you 5.5 gallons of gas. If Gas goes to $20.00 that same Oz of Silver will increase proportionally and you can trade it for the same 5.5 gallons of gas or convert to the new currency and purchase that same gas or food. It's all relative to each other.

In 1985 Silver was $5.00/oz avg while Gas was $1.20/gallon avg. You could still get around 5 gallons of gas per 1oz of silver. Same ration over 24 years ago.

[wunderbeast]

@bullorbearreport yes but come on, january? i'm sure that will happen before we think it's possible but why this month?

[buzzz121]

Would be incredible, at that point everything will get insane.