Monday, September 17, 2007

Watching And Waiting

You'd think it was Christmas Eve. You're certain that you're going to get that interest rate cut you've been asking for all year, but in the back of you're mind you're afraid it may be "another box of underwear". Gosh, I miss Grandpa Al. You could always count on Gramps to deliver the perfect gift. Did you see Gramps on 60 minutes last night? In an interview with correspondent Lesley Stahl of the CBS News program "60 minutes," Greenspan said that over the long run, the biggest problem facing the U.S. economy is "the re-emergence of inflation," and rising interest rates. And he's absolutely right.

Unfortunately, inflation has long ago reared it's ugly head. Government flim-flam in the reporting of it has been all that has kept inflation in check...on paper. Americans have been living with rampant inflation for the past three years. Fed claims to be fighting inflation are utter nonsense. Inflation is caused by a rising money supply. In spite of what you are lead to believe by the media, government officials, AND the Fed, inflation is not caused by rising prices. Rising prices are a symptom of inflation and NOT the cause of it. A rising money supply is the cause of inflation. And who controls the money supply? The US Treasury and the Federal Reserve. In fact, Americans have been living with inflation in the money supply since the day the Federal Reserve was illegally created in 1913. Worried about inflation? Blame the Fed. Want to fight inflation, Whip It Now? Close the Fed.

Silver and Gold once again being whipsawed around by the Vermin of the Comex as both try to leave orbit. The nonsense we saw Friday morning will be nothing compared to what lies ahead as these crooks desperately try to hide the truth about Gold and Silver. Both metals will more than likely sit idle for the better part of the next two days as they wait for a dose of medicine from the Fed. The Vermin of the Comex will do everything to beat them down ahead of the great Captain's proclamation from the Fed's rooftop on Tuesday afternoon.

Silver needs a close above 12.70. Support lies at 12.47 and 12.28. Gold creeps ever closer to its 26 year high on the weekly chart at 714.50. Support around 705 and then 694. Silver remains 15% undervalued in relation to Gold...and the bargain of the century.

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