Cowabunga! Spot silver is over $14 per ounce, and gold is at $621. The shorts are heading for the hills! There may be some fright inducing pull-backs along the way, but I think that this bull market is just getting started. Consider any deep dips your best buying opportunities.
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Richard Kiyosaki on “The Coming Oil Crisis“
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From the Second Amendment Foundation: More than seven months have passed since New Orleans residents were forcibly and illegally disarmed in the wake of Hurricane Katrina, and starting Monday, April 17, the City of New Orleans will be returning seized firearms to their rightful owners, thanks to legal action by the Second Amendment Foundation (SAF) and National Rifle Association (NRA). ‘We’ve learned from the police that starting Monday at 8 a.m., New Orleans gun owners can get their firearms back,” noted SAF founder Alan Gottlieb. “The city had been denying for more than five months that these guns were in possession. Only when SAF and the NRA filed a motion to have Mayor Ray Nagin and Police Superintendent Warren Riley held in contempt of court did city officials miraculously discover that more than a thousand seized firearms were being stored.”
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The folks at The Pre-1899 Specialist mentioned that their latest batch of 8 x57 pre-1899 Turkish contract Oberndorf Mauser rifles is by far the nicest that they’ve ever had. Recognizing their scarcity, one SurvivalBlog reader recently bought four of them. Since they were all made between 1894 and 1896, they are Federally exempt “antiques” –which means no paperwork required for delivery to most states. (No Form 4473 required!)
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Swiss America Trading quotes Frank Gaffney on the Electromagnetic Pulse (EMP) Threat.
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“Reversion to the mean” bodes well for the price of gold . Less than a year ago, the price ratio of silver to gold was around 70-to-1. Currently, it is bucking the trend and is down to around 44-to-1. Assuming that prices will follow their tendency for the ratio to revert to the long term trend (“reversion to the mean”), that will equate to $980 per ounce gold, even if silver stays in the $14 range. (And I expect $20+ silver within another year.) Tempering this, there are those who contend that the silver/gold ratio will return to the classic 15-to-1 ratio. Why? Unlike gold, most industrial silver is not recovered after use, and eventually the supply of available silver will dwindle.