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Sports, Politics, Financial Markets, Silver & More

$$$ Printing Update, Silver Update

So Ron Paul got Bernanke to admit to printing $1.3 trillion (link includes story and video) to buy various debt instruments, including mortgage products and treasuries, in a little more than a year.  Steadily debasing our currency, the Bernanke Fed is a good part of the reason gold and silver have gone up 34.3% and 68.4% respectively since the end of 2008. 

You can expect this dollar debasement to continue, as…1) Projected budget deficits hover at or above $1 trillion for the foreseeable future…2) States in financial straights (CA, NY, Fla, Illinois) ask for federal govt help (more $$$)…3) Projected govt receipts fall below budget. 

Meanwhile, silver, currently trading near $18.20/oz, is continually finding new industrial uses (pdf report in middle of page), including now becoming more widely used in upholstery and fabrics (Chinese Co. specializing in silver-embedded fabrics, fibers, and yarns).  This is the 4th time silver has traded extensively above $18 since reaching recent highs of $20.64 in March 2008…does it finally bust through this time?

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2 Responses to “$$$ Printing Update, Silver Update”

  1. Ever increasing Federal & State government regulation is a self invented political tool to address the crisis that the recent House and Treaury Department intentionally created to get a change of party at the presidential levelm 08.

    Lucky us – the Fed is now borrowing back at 3-4% the cash it gave to the banks at 0% interest, because it can’t cover our national debts and operating expenses. So the banks get to make money for screwing the pooch and getting caught, and are not carrying any risk on the new paper. The government loses money for a second time. Hello higher taxes in the years ahead.

    Couple with governmental catering to special interest environmental groups, without regard to meaningful balance and resource management……result has a cooling effect on core domestic business activity/investment for the long term, and boost in dependence on offshore production capabilities. This combination could result in an “economic ice age”.
    Go get a snowmobile suit just in case.

  2. Lee,

    Well said…very well said.


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