Wednesday, March 2, 2011

US$ Weekly Chart...million dollar question

Looking at the chart of the reserve dollar and hearing lots of negative chatter, me thinks we could see 72 by beginning of summer. By no means is this considered "falling off a cliff" Clearing 72, coming back up to test it, and then red candles after that, I would say get out your food supply, bottles water, ammo, and silver. Till then, a move from 76-72 is expected on a WEEKLY chart, but I have my doubts. The DOW and NAS look too overbought see the conundrum right? We cant have a perfect world in every trade.

On a side note, I have spoken with a great friend of mine at Citi group FX, he says the dollar is going to zero. Yes, I know this sounds like a bunch of grandeur statements filled with a lot of nothing, I would tend to agree, but his calls have been nothing but astounding and bang on.

So here's the million $$ question (we should change the saying to "here's the million silver ounces question") to your dreams: Can the market rally from here?

Choose your poison.


  1. Yah, I feel the USD will get crushed. Here's what I'm watching:

    A weekly close below that trendline will spell disaster. That line starts in March 2008.

  2. yeah, either to the downside or for the exit.

  3. $75---I'll love it if it happens. I can liquidate some of this then and turn it into some property. Have to buy some more dirt next. South Dakota sounds good to me.

    Get a Berkey Water Filter. I bought a whole bunch because a friend of mine has one and loves it. They haven't even arrived yet. I love risk taking at times!

    All that other survival crap scams out there I'm not too sure about. Yes the more guns and ammo the better. Never enough metal.

    Shit will hit the fan when you least expect it. Be ready.

    Sucks that I have to liquidate my IRA and other accounts also but this is a real cliffhanger to try and figure out when. I like trading on the market but that stuff is likely to be halted too and say goodbye to many more shiny ounces of J&M bars and coins.

    Decision time.

  4. Any ideas what to short when the market tanks? Or should we just jump that ship before that? I'm thinking about it.

  5. How about the following ?! Enable the Forex exchange in your brokerage accounts. Put all your money in it.

    Then you can switch between different currencies at any time forex is being trade.

    If you want silver, you can still keep the PSLV.

    Is it workable ?

  6. I'm ready for takeoff now. Throttle up! Let's go V1 rotate....we need a positive rate now on GOLD and SILVER and an EXPEDITIOUS CLIMB. I'm ready for above $1500 and $50 now---it's been long enough!

  7. It would take a complete meltdown to cause enough people to rush to the exits and send the dollar skyward. The Fed is Fucked and Fucked. If they keep doing what they're doing, the dollar keeps on its trajectory toward zero. If they change tactics, the markets implode all over again and the false recovery is laid bare for the sham it is. An object in motion tends to stay in motion.

  8. Thanks Coconut Rump. I don't know if SCOTTRADE does that but I'll check it out. Always wondered how to get foreign currency. Not sure if I will do that though. Been working the oil and metals sectors and doing ok lately.

    I might do this if I take a trip to NY. I'm going to stop into the Bank of China and get maybe a few thousand wads of their cash for a collection. Maybe that's a waste of time, I don't know.

  9. Mr. SGS: I haven't watched this yet but I'm posting it because it just has to be good: Check this out:

    What is a dollar Mr. Ben Bernanke?

  10. News: damn you post a lot. That vid was already on zerohedge, i try not to overlap, just gets redundant if we all post the same shit.

  11. I have to start reading Zerohedge. I have seldom been there. I remember you mentioning that now through the bears.

    Hey I'm just a "Johnny come lately" in all of this stuff--really! At least I know how to embed those files thanks to that one guy on here that gave us the lesson on shtml.

    And I did get in bullion in time too. :-) Whew!

    Come on $36!!!

  12. SGS, what do you believe the reason is that the U.S. is getting involved in Libya? There has to be a reason they have boots on the ground in Libya but completely ignored Egypt while Mubarak's thugs were busy slaughtering people.

    The Israelis were pissing their pants more over Mubarak than Qaddafi, so it can't be that.

  13. Heres a hypothetical on the dollar decline;

    As we all know Silver & Gold bullion trade in USD.
    What are the next steps when the USD goes to 0? Eg. What currency will be the next standard?
    More importantly, how soon before all the other currencies start incresing their value against the USD will there be a new standard?

    It may not make much sense, but let me give a present example.
    Living in Australia, the AUD is currently $1.016 to the USD which makes the spot price of silver cheaper to buy.
    I'm wondering, if the AUD goes to a ratio (for eg) 2:1 USD which essentially makes silver half price; what is the likelyhood of that happening and what will be done (and when) to prevent it as the US fiat becomes worth less and less by each printing day?

    Is it even worth considering exchanging some US fiat into other currencies should this opportunity present itself or is this an example for the mythbusters?

    Curiouser and curiouser

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  15. NT: This means basically that right now we are all getting really screwed on buying gold and silver because of fiat worth less and less. When the change is made we get screwed again. I'm used to it.

    But depending on how long this takes to run it's course here in the USA, there are those of us who are trying to avoid becoming an "inwardly focused, middle-class reliant society" of dead-beats living for government hand outs.

    I'm working on my lump sum now and will fight for liberty. You can count on that!

    These are strange times and I'm not sure if my Jesus is coming yet but unlike some Christians I'm ready for the trouble ahead. Too many wimpy Christians around this nation too that are going to have a rude awakening with what lies ahead.

  16. Silver got slammed from 34.94 to 34.40. Can we all petition letter to CFTC right now and complain about this type of manipulations ? We should be able to hold CFTC member liable for this type of manipulations. We need to form groups to publicly protest about this. Right now, media is very sensitive to public protest, especially against government agencies. We should plan for event like this.

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  18. Waste of time protesting. Just keep buying bullion and do a silent protest. You'll do more harm that way. Put a STINK BID IN:


    I just grabbed a box of Canadian Bears here at that site. They won't last long. 9999 Pure. I recommend them. You just have to choose '500' when you chose those Grizzly Bears.

    Or just get some bars.

    I'm a sniper for buying bullion like this.

  19. I hate the NEWS. Earlier today it was "Oil rises on projected increased reserves" and now "Oil falling sharply on news of Libya peace plan". What is it? Just wait around until morning and something will happen again. This market is acting like it could get very shifty and volatile. Imagine if we see swings in the price of gold +/- $500 and silver +/- $10. Slow steady growth is a thing of the past.

    Here goes another STINK BID for lower. It might just fill overnight.

  20. To the poster who asks what stocks to short. I think issues like NFLX and Best Buy, along with CMG and PNRA are candidates. The old saying is sell in May and go away. Stocks are likely to head higher until the average buyer is complacent. I was in the business in 1987,and can recall how complacent everybody was just before the crash. Brokers I knew who were over 60 panicked like you cannot believe. Our CEO said the financial system was less than 2 hours away from a complete meltdown. He was an honest man and a genius IMHO. Since then I have always
    owned a good amount of gold and silver. Quality farmland in places like WIS, ILL and Iowa will be safe as farmland is only going up in price, because food is going up in price.

  21. I hate to say this but I smell profit taking on this run. Silver ends the week lower. Blythe didn't buy out all those contracts to have the price rise on her. Money is no object when the FED is involved and they are involved.