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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 
Best of Jim Cook
May 8, 2007
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STILL CHEAP

The amazing thing about silver is how few people know about it. If they knew the facts, I believe they would buy as much silver as they could. In silver you have an ageless precious metal with an intrinsic value still selling at close to historic lows, when adjusted for inflation. This tangible asset stands outside the paper monetary system. It has universal demand by people around the world who value it because it’s scarce and precious.

Silver became money on its merits before there was such a thing as industrial development. Then, fifty years ago industrial uses for silver literally exploded and the above ground supply, that was once used for money, began to disappear and rapidly became depleted. Silver is an asset that’s absolutely indispensable for modern civilization. You have large industries where silver is so necessary they will fail without it. You have all the substitutes for silver being too expensive to replace it.

You have new investment buying to go along with the aggressive industrial demand from Asia. You have a world supply that’s been dramatically drawn down and depleted. You have a gap every year between what’s produced and what’s used. You have a crucial metal with less of it left to be mined from the earth than any other major metal. You have the price of silver trading close to the cost of mining it, a bullish factor for a commodity.

On top of all this, you have a shocking amount of silver sold short. You have a large quantity of silver leased out that hasn’t been returned because the silver has been consumed. You have silver sold forward by mining companies who haven’t produced it yet. You have silver certificates for huge quantities of silver in the hands of investors who believe the silver is there when it probably isn’t. You also have large financial entities who have sold more silver on paper than exists in known stocks. You have a growing awareness that this opportunity in silver exists. This recognition has profound consequences for the future as more and more people act on what may be the most bullish set of circumstances to ever exist.