Beware The Fourth Of July Fireworks In The Silver Market? KABOOM!
There will be fireworks. The only question is, who will be launching them?
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Half Dollar's Note: Grab your less than legal fireworks, or not, throw 'em into the bed of your Giddy-Up Pick-Up Truck, and enjoy a long holiday weekend, have a Happy Independence Day, and don't expect 'Ol Half Dollar to get around to doing any sort of writing on Monday, be it second rate, b-rate, irate, reduced rate, the other rate, or otherwise!
In the meantime, go ahead and enjoy something I scribbled and recorded in 2016, when I went ahead and just rewrote the Declaration of Independence for everybody.
It should spare us a crapton of political bickering.
Anyway, I think you'll find the rewritten version is more appropriate now, than ever (YouTube "Featured Image" pic of me not from 2016):
It sure sounds like the New-And-Improved Declaration of Independence was written on July 4, 2021, doesn't it?
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(by Half Dollar) Everybody's looking for a repeat of last year.
I know, right?
As if the Cartel was so kind.
They're not.
But for some reason, everybody thinks that beginning next week, silver is going to go on a rip-your-face-off rally and rise $12 in price by the first week of August.
I mean, it could happen, people say the technicals on silver's chart are indicating that it is going to happen, and I think there's like a cold-front with a freak summer snowstorm happening all over the Western United States right now, so there's that too.
Sadly, of course, from, call it, $27, to $39, that would still put us nowhere close to all-time record highs.
Gold took off like a rocket ship in late July of last year too, and gold broke through $2080 the ounce for the first time in early August.
Side Note To All Of The Silly Deflationistas: When you were given $20.67 for that pre-1933 Double Eagle you turned-in when Roosevelt Unconstitutionally confiscated the people's gold, but that same exact coin, or nearly, one single ounce of gold, now costs over $2,089.00, know that your dollar has already hyperinflated.
Side Note To The Side Note To All Of The Silly Deflationistas: If you are having a hard time understanding the fact that the United States Dollar has already hyperinflated, here's another way of looking at it using the Ministry of Plenty's own CPI and today's approximate gold price:
There are other ways to show how the US Dollar has already hyperinflated, but the absolute very last thing that I want to do just before the beginning of a long holiday weekend is start digressing.
So again, exactly why is the Cartel going to let silver begin a rip roaring rally next week and risk the same exact embarrassment for not only the second year in a row, but arguably for the third year in a row?
Additionally, let's think about what the fundamentals are saying about gold & silver right now:
Long holiday weekend with light trading volume, including a Federal/market holiday.Everybody jumping up and down expecting gold to skyrocket because of Basel III.Psychologically speaking, there has not yet been a capitulation in silver.When everybody gets back to work, or play, or whatever, come Tuesday, the "booming economy" narrative will be the narrative of the day.That, or there will be some horrendous False Flag or False Flag Hoax over this long Summer weekend, just as everybody is ready to celebrate a long Summer weekend like they've never celebrated a long Summer weekend before.Extra, bonus stimmy money (Child Tax Credits) doesn't begin until mid-July.Everybody's newfound favorite silver "advocates" are back to pumping the penny stocks, again.Etcetera, etcetera, etcetera.If the fundamentals have been driving the gold & silver "markets", which clearly the fundamentals have been, as evidenced by the gazillions of wrong calls all of the Chart Huggers have been making since late January/early February, then the only thing that's going "to da moon" next week, besides convertible Teslas, of course, will be the fireworks shot off from sea to shining sea.
And if they don't make it to da moon, then hopefully they will at least clear the trees and the rooftops.
Shameless Plug Time: I spent 25 minutes talking about the markets, the economy, and the charts on Wednesday, which is published as part of my Midweek Market Report over at the best online gold & silver bullion dealer's website:
Thank you for your consideration!
Ministry Of Truth News Flash: We've Made America Even Greater Again By Building It Back Even Better:
I think earlier, he was also saying something about chocolate?
We should probably take to the streets to thank him for that.
OK, "Hey Half Dollar, quit stallin' and avoiding the fact that your analyzation skills are lousy, for gold & silver are going out on their highs of the week and near their highs of the day you Big Dufus, and that means we're gonna get follow-through momentum with next week's trading and price action!".
Funny.
That's exactly what they want you to think.
Isn't it?
Look, here's the thing: I'm a Contrarian.
A real Contrarian.
Not a Wannabe Contrarian.
There's a difference.
And I maintain that we're still just too dang bullish on silver, which is another way of saying I maintain that we still haven't seen the capitulation yet.
I will say this, however: I think I saw an article with the title "Silver In The Teens" a while back, and I didn't write it, so we are making progress.
Moreover, I'd say sentiment, on balance, is balanced.
And really, it's all the same to me, because I win when silver goes up, and I win when silver goes down because I buy even more.
That's like, a win-win.
Woot!
Although let's not get it twisted: Even as silver is rising in price, as opportunities present themselves, I will always be adding silver to my stack for as long as I live.
For gold may be the money of nations, but silver is, after all, the real power of the people.
And to the trolls out there who tried to call me out for buying Wifey a platinum bracelet, a platinum ring and stuff:
Any time a person takes unbacked, debt-based fiat currency dependent on exponential, unsustainable growth, commonly called "US dollars" and formally called "Federal Reserve Notes", and converts that phony money into real, physical precious metal, held outside of the system, that is exactly one very specific way to Starve the Beast.
And besides, didn't anybody stop to think that 'Ol Half Dollar might just have a wedding anniversary coming up?
I mean, I may be cheap, but I ain't dumb!
Or, I may be duuh.
Uh, oh, nevermind.
I'll tell you what I think is going to happen to silver next week:
I think the Cartel is going to take silver behind the woodshed, beat the living crap out of it, and then leave silver for dead, again.
Or are we really, truly, never going back into the teens?
I, for one, never say "never", and silver is indeed the whipping boy.
And If we get the beatdown in silver that I've been looking for, I'm pretty confident that we'd finally get our capitulation too.
You see, the post-FOMC smash doesn't count as the capitulation, for that was just the initial brute force pounding coming off of a month of going sideways, done to induce the latest round of "selling".
But hey, at least the Cartel's given the Chart Huggers a sliver of hope!
For surely that's a rising trend line, isn't it?
Gold's now banging around $1750 and $1800:
Why exactly would the cartel not want to paint a triple-bottom, again?
The Dollar Store calls them "paint-by-numbers" coloring books for a reason, you know!
And if the Cartel is going to keep the pressure on gold & silver, which I think the Cartel is going to do:
Then my "silver in the teens" call doesn't look all that crazy now, does it?
It is getting pretty interesting though:
It's a "V"-shaped recovery!
Kinda like our economic recovery!
But not really.
Perhaps you've heard what they say about platinum:
Something about being ten times more rare than gold?
You can't really take silver behind the woodshed unless you build one, and If you build it, they will co, co, co, oh, come on, man:
Do you even have the blueprints, bro?
The commodities are generally on sale, but crude oil is not:
That's gonna hurt.
They say copper is a barometer for the economy:
And right now, copper is forecasting that regardless of whatever kind of Bipartisan Infrastructure Framework our "elected" "leaders" in Washington are "working" on, they're not going to be needing any copper.
Of course, why would they need any copper, when the plan is not to actually repair the roads and bridges, or to build out a massive fleet of electric vehicles with more charging stations around the nation than there are power outlets, or to upgrade the nation's power grid, or to close the digital divide by providing lightning fast internet service to everyone, everywhere, when everybody knows that all they're really just going to do is to fraudulently waste and abuse every single penny without actually doing anything related to "infrastructure"?
It has been a good week for the Gamblers in the Rigged Casino:
Good thing "risk on" is good for gold!
OK, "Hey Half Dollar, you really are a Big Dufus because everybody knows that risk on is good for stocks and bad for gold!".
Oh, yeah.
Awkward.
Hey, looky here:
Ha!
Just kidding.
Nothing to see here.
Move along.
Um.
Here's one thing the "to da moon" crowd can point to as bullish for gold & silver:
I've been correctly calling for lower rates all along, and now, it's kind of hard to argue that rates are not in a downtrend.
Speaking of trends:
It's hard to argue the trend isn't for more US dollar strength, but, of course, that's only if the you-know-whats matter.
Thanks for reading.
Stack accordingly,
Paul "Half Dollar" Eberhart