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Silver heading back to $22 says Clive Maund
Posted on 28 December 2009 with no comments from readers
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no Comments posted by readers:
Silver (so called “poor man’s gold”) is a great “long term” investment, in spite of the massive and grotesque short positions being held by JPM & a few other bullion banks.
Why Do They Short It?
In brief, the FED shorts the gold and silver prices in order to keep the dollar from falling precipitously, and to keep interest rates artificially low. Having said that, the boyz over at JPM (and the FED) will continue to short the silver price. They currently have an unbelievable “net short” silver position of over 300 million ounces at the COMEX. Admittedly, a good portion of that total “investment” comes from the FED.
So What Does This Mean?
Simply stated, we will continue to see wild swings in the price of silver (and gold), but the long term trend is for silver (and gold) to go up significantly, even with such manipulation by the US government.
Got gold?
Got silver?