Want to see the real reason why the US dollar is toast? Read the brilliant article by Matt Taibbi of May 11, ‘The People vs. Goldman Sachs’ at http://www.rollingstone.com (Hint: massive banking and government corruption.)
WARNING : If you a USA citizen, you may want to have a drink or pill nearby. Don’t kick the dog. The wife might save the photo from her cell phone camera for future use.

Ed., I didn’t hear him say “don’t sell your gold and silver”! I guess he would have done so if the rather over-talkative interviewer had given him more air time.

However, in view of his previous comment that he would sell silver if it reached $100 within 2011, I can’t guarantee that he would have said “don’t sell your gold and silver” on this clip if he had been given the opportunity.

@ John Mark

After Listening to your questions for the last two months on owning PM’s, and the constant putting forth question of yours, (paraphrasing) “why don’t we sell everything, including the farm, and buy gold and silver” i find it amusing that now both gold and silver are enjoying a correction, you are looking for someone (a greater authority) to hold your hand. I hate to break the news to you that gold and silver are not yet finished their correction. If you are a trader, you should have some dry powder. If you are an investor, just buy what you think are the dips and don’t pee your pants when the metals correct. (my 2 cents).
If you want advice from an ordinary person (not a pro) who owns and trades the asset, here’s my take: Look for gold to correct down to $1,440 range over the next week or two, it might even go lower over an extended correction, depending what the other forces do – oil dropping to $92, before rebounding to $140, or the outside chance of DXY transitioning from a bear rally top to an unexpected uptrend above 75 etc; in which case gold breaking the $1,362 resistance level is not off the table either. Regardless, gold is going to find its bottom somewhere over the next 1 to 6 weeks AND about 15 minutes BEFORE that bottom is found, you want to be buying all the silver you can get your hands on.

James M, thank you for devoting a post to me and my perceived needs. I can see that you are offering a friendly hand to me, and I appreciate that in these turbulent times for g and s.

Thank you for the timings and the price levels. There is one problem I have, however. How can I ensure that I do capture the “15 minutes before that bottom is found”. If it is a fairly random 15 minutes through any day prior to the 1-6 weeks beginning (for gold to bottom out), how can I ensure that I am around and ready to buy all the silver I can get my hands on “15 minutes before that bottom is found”?

Kind regards.

John Mark, it was an illustration, meaning silver will shoot up immediately after the gold bottom is established.
Your mission now (if you like) is to study gold, and determine where is that bottom is to be found. You can get in before, or after. Common sense is to go in right after the bottom, but you still need to recognize that has occured. Its the same problem for everybody, so you are on level ground. Understanding what is moving gold is the exercise at hand. Those influences are your tools for price discovery. If you listen to any five experts on the subject, (this weekend) they all pretty much agree on where gold is about to correct to. Of course as with all experts the caveat is understood that their call is a likelyhood not a certainy, and in a market still unpredicatble and somewhat chaotic. Good luck!

@john Mark

Wake up call from gold at 1,489.70 and falling.
If you would like further notifications, i’ll be happy bill you at 3 cents each.
Why in 5 years, that could buy a gallon of petrol.

James M, your offer is very generous! However, I can get the spot price every 25 seconds on the GoldMoney.com website. I look at that now and again through the day and, of course, groan at the present time, but Ed.’s commentaries help me to keep my nerve and not despair as gold keeps falling, as you say.

Actually, gold has not fallen that much in comparison to silver as the gold:silver ratio shows. Before this price-fall, it was 32.5 or so but now it has risen to 42.5 or so. Still, I agree that investors have nowhere else to go before long except into bullion, so I’ll keep watching the spot.

Thanks!

@John Mark

Suggest you post your questions on zerohedge. They will look after you.

what an a-hole… he said “the chinese don’t lie about inflation and we (U.S) do”!
how can he say that??? The chinese lie about every single indicator!!!