Silver
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Why to Keep Betting on Higher Silver Prices
As November comes to an end, silver prices continue to hold their luster even in this down week.
On Tuesday, spot silver increased to $34.26 an ounce, its greatest level since the middle of October, before it dropped to $33.76.
Silver traders have hit the sidelines as economic news such as fiscal cliff discussions, the Greek bailout and an appreciating U.S. dollar have been a drag on the white metal.
James Steel, HSBC metal analyst said to Reuters of the current prices, "We believe gold and silver prices will tend towards consolidation, as investors await further developments on the U.S. fiscal cliff negotiations."
But don't worry silver bulls, there's still enough good news to keep you happy.
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Why to Expect Higher Silver Prices Before 2013
As the week comes to an end, Comex December silver prices are trading at $32.45, a slight decline from yesterday. For the week, prices are off about 1%.
Recent economic data and concerning news from abroad have hit precious metals this week, leading to their declines.
Gold has been stealing headlines as fear surrounding the fiscal cliff drives investors to seek safer assets. Should Congress and the president not reach an agreement by early next year, this will provide an opportunity for gold to shine.
But the white metal, with its volatility and recent high prices, can hold its own and also has the potential to increase in the short-term due to a few reasons.
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"It's Like Gold On Steroids"
Gold remains the favorite of precious metal investors, but silver is the metal you want to double down on right now.
After wallowing around in the mid-20s for months, silver prices have shot back over $30 an ounce.
And thanks to some wildly misguided government policies, silver could soon blow through its 2011 high of $50 an ounce, giving investors an easy double.
Even better, thanks to three huge catalysts, silver is primed to make a huge run-up over the next 12-24 months. It will be like investing in "gold on steroids."
Are you ready for $250 silver? Or more to the point, are you ready to profit from it?
In a moment, you'll see how a simple move can help you reap extraordinary profit from silver.
But first, let me show you the three catalysts that will propel silver much, much higher over the coming months and years...
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The Greatest Episodes of Market Manipulation…Is Silver Next?
Market manipulation has a long and storied history.
From the Tulip Mania of the 1600s all the way to the recent housing bubble, market manipulators have employed a wide range of tactics to lighten the wallets of unsuspecting investors.
And even though market manipulation is prohibited in the U.S. under a section of the Securities Exchange Act of 1934 - it's as American as apple pie.
Everyone from high-ranking government officials to investment bankers have been caught with their hands in the cookie jar.
The list includes scofflaws like Ivan Boesky, Michael Milken, and Jack Abramoff.
Jim Cramer, the host of CNBC's "Mad Money," said he regularly manipulated the market when he ran his hedge fund, calling it "a fun...and lucrative game."
Not surprisingly, a recent study found that those closest to the information loop -corporate insiders, brokers, underwriters, large shareholders and market makers - are most likely to be the perpetrators.
To give you an idea of how things work, here are three notorious examples of market manipulation.
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Five Savvy Ways to Conquer the Wall of Worry
If you like extreme risk and consider living on the edge to be "normal," today's column isn't for you.
Today I'm writing to the millions of investors who are completely terrified by the prospect of what's next and who simply want their faith restored - not to mention their investments.
To all of them I would say: You are not alone and you're not wrong to be apprehensive.
Our political situation is an embarrassing train wreck, our national debt looks like a one way trip to financial hell, housing remains in the dungeon, unemployment is unacceptably high and Europe...oh Europe.
It's nothing short of a gigantic wall of worry.
Plus, there have been so many attempts to "fix" things that I've lost count. Throwing good money after bad is a fool's game and one that will have very real and inevitable consequences.
So what should investors do?
The Fed's War on Capitalism
Here's how I see things. The "Whitewash Ministry" has basically five options:
- Repression
- Devaluation
- Austerity
- Deflation
- Inflation
Even though both would be the proper way for free markets to bleed out the excesses of the past, they are essentially political nukes and nobody has the willpower to touch either one of them.
The third, austerity, is being tried but only halfheartedly. Our leaders have no idea what this actually means. Since they remain completely unaccountable, there is no true incentive.
Besides, large numbers of people have figured out it's easier to be on the dole than it is to actually work, so this is another disincentive for meaningful cuts in spending.
As for inflation, this too is officially a non-starter as long as interest rates are held near zero. Unofficially, it's a different story. Most investors I know are feeling the heat of 12% to 15% a year in their wallets.
That leaves option number one - repression.
You can call it what you want, but repression is really a fancy way of saying that our government is conducting punitive monetary policy.
While they mouth off about how they want to create jobs and take care of the middle class, in reality they're eviscerating it.
How?
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Why I’m Taking Gold Double-Eagles on My Next Trip to Utah
Federal Reserve Chairman Ben Bernanke may think he has everything under control, but the truth is the monetary ground is literally shifting beneath our feet.
That's why his loose monetary policy has some U.S. states looking to get into the gold coin business.
As I'll explain later, it's why my Gold Double-Eagles are becoming even more valuable.
Because while the U.S. Constitution bans states from printing their own paper money, it does allow states to make "gold and silver Coin a Tender in Payment of Debts."
Now no fewer than 13 states are seeking approval from their state legislatures, either to issue their own currency or to explore it as an option as the Fed's printing presses spin out of control.
So why is there this big rush by states to move into gold as an alternative currency?
It's simple really.
The Trouble with Fiat Money
Fiat money, created by central banks, possesses no intrinsic value. Paper money only works as long as governments don't create too much of it.
For pieces of paper to have value, we all have to believe there won't be too many of them and that the authority creating them has the preservation of their value as its top priority.
When that confidence vanishes, the fiat currency returns to being just paper - as it did famously in Weimar Germany in 1923. Or even more catastrophically in post-war Hungary, where the last stable symbol of value, the 1931 gold pengo, became worth 1.5 octillion 1946 paper pengos.
Of course, central banks do occasionally compete for foreign depositors by offering paper currencies with more stability.
In fact, before 2000, the U.S. dollar benefited from these flows that came from all over the world, including Europe.
Now, apart from the eccentrics who swear by the Japanese yen or the Chinese yuan, flight capital is largely confined to the Swiss Franc.
Since Switzerland is a small economy, the Swiss National Bank has drawn a hard line. It refuses to allow the franc to rise above 1.20 against the euro, so even that refuge has been made less attractive.
The Attractiveness of Gold
As you would expect, the private sector and some governments have begun to look further afield, and are beginning to focus on gold in particular.
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Will Silver Hit $50 an Ounce?
Money Morning Chief Investment Strategist Keith Fitz-Gerald joins FoxBusiness' "Varney & Co." to talk about where silver is headed, and the best ways for investors to get in on the profits. Loading the player …
