by Dr. Jeffrey Lewis, Silver-coin-investor:
It was bound to happen sooner or later. And this month we got it…. The WSJ ran it’s hit piece on silver.
This Precious Metal Needs a Silver Bullet
The irony was rich. The first chart they ran with was a pristine display of the absolute most bullish short-term indicator one could find. It is the very same managed money short that we’ve been highlighting over and over. The data comes directly from the CFTC Commitment of Traders Report.
Yet on and on they rambled, pulling out all manner of rationalizations for where ‘we are now’… Pouring salt into the open would of sentiment. A commentary based on the illusion created by a completely managed price.
Alas, this is how investment demand — that which must be controlled – is managed or contained.
I’ve highlighted a few ripe gems (in bold) from the hit piece — and then added a few more comments below.
Once prized as a precious metal that could be put to practical use, silver is now getting the worst of both worlds.
Silver has rarely been prized by anyone. The vast majority have no idea about silver. Most simply lump it in with gold, if ever at all.
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