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Politics : Welcome to Slider's Dugout

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From: RonMerks	5/31/2006 11:31:39 AM
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Buffets Silver sale and the ETF? Mr. Slider, What say you? From jsmineset.com General Editorial Posted On: Tuesday, May 30, 2006, 4:47:00 PM EST Gold and Dollar Market Summary Author: Jim Sinclair Gold, Silver and the US Dollar today: “What is good for General Motors is good for the USA” is one time tested saying. Another may be "Whatever happens to Walmart happens to the US economy”. Walmart’s 2.3% growth number is a disappointing down trend blamed on higher fuel costs. The formula is: Increasing costs and decreasing business activity = lower corporate profits and individual income = lower tax revenues plus exemption of the many from the Alternative Minimum Tax category = in the face of continue high spending an explosion in the US Federal budget deficit = in the face of a continuing US Trade deficit and a runaway US Current Account deficit = a severely lower US dollar = significantly higher gold prices = $1650 for gold! Gold and the US dollar ended the day exactly the way they started. Both were locked around their respective Fibonacci support/resistance lines. The dollar will lead here. A fall to .8050 - .81 will push gold into the $700s. Silver seems to have recovered from the Buffet sale. That sale does not mean much. Buffet sold his profitable silver to cover his loss after being run out of the majority of his US dollar short. As I see it, the new Silver ETF bought Buffett's silver via an intermediary over a five day period. What makes you think this is the only Silver ETF? Once one Silver ETF makes it past regulators, many will follow.

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