The Phaserl


Turk – The Silver Spike Is Going To Shock The World In 2014

from KingWorldNews:

Turk: “The big question everyone should be asking here, Eric, is: When are gold and silver going to break out from the huge base both precious metals have been forming since their low price was reached last June?….

“I think we are getting very close. Will it happen this week? Will it happen before the end of this month? Who knows? But even if the upside breakout is still a few weeks away, or even if the precious metals need to make one more dip into support around $1,235 and $19.90 respectively, we are getting very close.

James Turk continues @

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2 comments to Turk – The Silver Spike Is Going To Shock The World In 2014

  • Jeff

    I’ve always been confused as to how this crowd can claim “manipulation” all the time but then rely on “charts” to prognosticate when the very thing they claim is manipulated will shoot to the moon. I’m hoping these guys are right since I’m all in but still.

    • Ed_B

      I agree that charting is akin to foretelling the future via the appearance of animal entrails but perhaps it is not the charts so much as the variation among the charts with time that tells a better story? Charting often looks to me like driving on a busy street by looking in the rear-view mirror and presuming that what you see is accurate in the future. It might be, but then again, it might not be too.

      Yes, silver and gold prices will rise because currencies are being continuously cheapened. Ore grades are declining, so more rock must be dug, crushed, transported, and processed to get an oz. of silver or gold. The price of oil has a tremendous impact on PM prices because virtually all of the mining equipment runs on diesel fuel. As easily obtained oil becomes more scarce, the price of that oil will rise. As it does, miners have to charge more for their metals because it costs them more to create their metal products.

      I can understand the idea of going “all in” with PMs but have found over a 37 year investing career that this is often not the best course. It is usually best to buy regularly and in small amounts such that a dollar cost average approach is taken to ownership, whether that he stock, ETF, mutual fund shares, or PMs. This evens out the rises and the dips and often results in owning more of the items purchased at a lower average price.

      Because of this, I have a nice PM stack, am still acquiring PMs, and will continue to do so until they rise significantly in price. The trick then will be to determine whether or not to sell and when. I will likely take the coward’s way out of that too via doing some dollar cost selling or reversing the buying I have been doing. This selling will not be done to collect intrinsically worthless FRNs to hold but rather to use in acquiring land or other real goods. Never sell precious metals for any purpose other than buying real property or goods or to pay off any debt owed on them. This is financial wisdom and is similar to the advice not to borrow money to buy a depreciating asset. Only borrow $1 when having it allows you to create $2 or more. Those who understand interest, collect it. Those who do not, pay it. 🙂

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