In Jim Cook's Archive


On one day the stock market falls more than it ever has. The following business day it goes up more than it ever has. That does not seem to be a place to have all of one’s savings and assets as many people do. A small percentage should be in something tangible with a history of permanent value and high demand in times of trouble. With grocery stores getting hit with panic buying and uncertainty in the air, owning a secure bedrock asset seems prudent.  In every crisis in history, from war to hyperinflation and depression, people wanted gold and silver above all else. Nobody knows the exact future; so relying on the government to save us through every predicament may not work. Be assured that owning a cache of gold and silver will be a source of comfort and security no matter what.

The flip side of the argument to have a hedge or insurance against a crisis is to consider gold and silver solely as investments. If nothing bad happens, will it appreciate dramatically? Silver analyst Ted Butler has shown that the leading bank, JPMorgan, has accumulated a massive amount of silver and gold. Now he sees evidence that they have covered the large short position they used to control the prices of these metals.  In other words, they can only profit if the price goes up. That means the biggest roadblock for silver has likely been removed. Now you have two powerful arguments to own silver and that says nothing about how ridiculously cheap it is today.

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