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
July 26, 2010
INTERVIEW WITH IZZY FRIEDMAN
Q: Ted Butler calls you his mentor. How did you get interested in silver?
A: I went to India and saw how many people wanted silver. I started buying it in 1976, 1977 and 1988 at an average of $4.75. I sold it in 1980 at $39.75.
Q: Then you met Ted. What did you tell him?
A: The silver market made no sense.
Q: He’s made a case that the regulators are investigating. Will they crack down?
A: I don’t count on that.
Q: Still you are bullish on silver?
A: Of course, but I don’t see that as important.
Q: What is most important?
A: I see a strong possibility of a shortage.
Q: What if we don’t get a shortage but the regulators do put in position limits?
A: Maybe $100 to $150 on silver. Maximum $250.
Q: That’s pretty good.
A: Nothing like the price in a shortage.
Q: How do you mean?
A: A shortage is very peculiar.
Q: In what respect?
A: The price explodes quite suddenly.
Q: Any examples?
A: I was in the diamond cutting business. I had 200 employees. One day De Beers only delivered 25% of normal to the diamond cutters. The price went up 200% in one day.
Q: You think that will happen in silver?
A: The chances of a silver shortage are at least 60%. When that happens silver will go up $100 in a day.
Q: How high can silver go?
A: Silver will fly like a rocket. It will no longer be the poor man’s gold.
Q: How so?
A: The price of silver will equal gold. It will reach a price you can never imagine. You will be surprised when silver exceeds the price of gold.
Q: This is caused by worldwide demand?
A: Yes, the Asians are going to buy everything of value.
Q: What should people be buying?
A: Money in the bank brings very little interest income. They should buy Silver Eagles. When the price goes as high as I say, it will be easier to sell one-ounce.
Q: I’d imagine the government would try to stop the price explosion you suggest. Can they?
A: No one in the world will have the power to stop it.