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A note from my friend, Trader David R on gold and silver:  “I told you silver going MUCH lower but gold looks like it will see $1550 soon and [we’ll] see from there. I like gold more than silver here.”

Ted Butler, on the other hand, is recommending that now is the time to buy and even suggests call options (which we do not).  The selling on the Comex is NOT from the large commercials, i.e. JPMorgan, but from the Technical Hedge Funds.  JPMorgan is the buyer and the Technical Funds are the seller here.  JP Morgan is rarely on the wrong side of these trades and when these Technical Funds are forced to “cover” their short positions, meaning they must either take delivery, which they won’t, or go long, the move upward will be swift and dramatic.  It must happen at some point.

I’m no different from you.  I get frustrated and disappointed when gold and silver are stonewalled and are not allowed to rise.  But there is a big difference between being disappointed and throwing in the towel.  I have never doubted the value of holding a large position in physical gold and silver and as time goes by, my belief becomes stronger and stronger.  Nothing has changed for the better; in fact things are far worse today than they were in October 2009.  I am proud of our readership.  Even though gold and silver have been going through a rough period, for nearly a year and a half, our business has not fallen off.


Many of you are reading our commentary and buying the dips.  You WILL BE REWARDED, if $1,550 holds, perhaps sooner than you think.

I had a long conversation with Andy Hoffman this afternoon.  It looks like the Gold Cartel are putting all their effort into breaking the $1,550 support to get the funds to sell even more of their gold.  Their acts are well orchestrated and it’s about to get interesting.  This much I can tell you with firsthand knowledge – this is all happening over on the Comex.  Our business is up, not down.  We are having trouble sourcing precious metals, and junk silver has dried up completely on the secondary market.  People like you, our readers, know when something is a bargain and there is a huge disconnect between the paper market and the physical market.  We see it every day, here at Miles Franklin.


Greg Hunter (USA Watchdog) interviewed John Williams yesterday.  Do NOT miss this interview:

Budget Deficit Exploding Out of Control -John Williams

3 April 2013

By Greg Hunter’s USAWatchdog.com

Economist John Williams says don’t be fooled by the new highs on the Dow.  Williams contends, “The economy is still in serious trouble.  The banking system is still in serious trouble.  The budget deficit is exploding out of control.”  Williams thinks the ongoing banking crisis in Cyprus has global implications.  Williams says, “You have a precedence set in Cyprus that they can seize the funds.  They will not guarantee all deposits.  If that’s the case, you may have a much worse crisis than you had back in 2008.”  Williams adds, “The big problem is the government is insolvent in the long term.”  Williams says the U.S. dollar could start selling off in May because of a deadlock in Congress on the budget.  Williams predicts, “The global markets are looking for the U.S. to address its long term sovereign solvency issues.  That’s not going to happen. . . .  In response, it’s going to be off to the races with a dollar sell-off.  That could be the trigger for the early stages of hyperinflation.”  Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.      

Congress Triggers Early Stages of Hyperinflation-John Williams


Last, here is a great illustration of the history of the US dollar from Jim Sinclair:

A Brief History of the U.S. Dollar…

Redeemable for $10 in Gold !

Redeemable for $10 in Silver !

Franklin Roosevelt’s  ’New Deal’ / Redeemable for $10 in Dollars … ???

Legal Tender, No Longer Redeemable…