Silver Makes History
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Precious metals overbought, next bubble in… coffee?
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Bob Hoye
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The monthly publication for financial institutions was started in January 1982. This competently covers the stock market, the yield curve, credit spreads as well as metal and energy prices. Bob, as chief financial strategist, writes the weekly overview - Pivotal Events
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Let me get the party going this week…..
Bobby Boye (thats Hoye
)….not sure what chart of the US Dollar you are looking at but once the DXY takes out 71.5 and we hit 72.8 today….what will you come up with then to justify your RATIONAL thesis that you so desperately want the world and investors to follow..
oh by the way we are in may on monday and what will you have to say about the 3 month delay of the now defunct MPF
OH MY GOD
What is the MPF?
I got it. Momentum Peak Forecaster. Has it only been misfiring for three months? I thought it started forecasting the peak was two weeks away back in October of 2010.
I have come to the firm opinion that it is inevitable that someday the dollar will start falling and not stop at least until the Fed is issuing $1 million notes for grocery shopping. However, I am not yet prepared to say it starts in two weeks.
Bob sounds totally uninterested, aloof and almost ‘tipsy’ in these recent interviews. It’s a weekly regurgitation of the same old explanations and philosophies, ad nauseam and I detect that Phil is finally beginning to sense the same.
Bob sounds like he basically doesn’t care anymore – he’s made his and if he’s totally off the mark – no matter how many times straight, so what? I think I’ll put this weekly segment to bed and focus on the other interviews.
Nite-nite Bob -
This time its different? Old techniques no longer work? I wonder. I wonder what June 13th has in store?
Hoye….why do you call guys like Bernake and Geither arrogant and madmen and why do you blame Obama for the current mess. You describe the current events as the evolution of a 100 year experiment in debasing the US currency, so each and every President and Fed governor has to receive some of the blame.
On your next podcast, please explain how deflation and depression would be better than the current situation, you must be heavily short the market to desire such an outcome. Do you expect the entire world to just rollover and fall into another depression, I believe the central bankers are doing whatever they must to solve the current crisis and yes the rich will get richer and the majority of the people will be left holding the bag but would you expect anything else.
You analysis for the past 3 years has been too simple and to expect things to turn out the way you expect because of s single indicator is rather naive.
For you sake, your sound money better hold the lows over the past 4 decades….
Putting aside the dollar crisis for a moment, there is one fairly reliable indicator that might be showing a turning point, which is that gold had jumped strongly while silver declined. This is something we haven’t seen for quite some time. Monday will give us a very good picture of both metals, though I really think silver not quite done just yet.
This is unlike other times where gold and silver both declined at the same time, giving us a shift in the gold/silver ratio. For the first time in a long time gold really advanced against silver. So if the rule of thumb is correct that this signals a decline in the quality of credit, then three weeks will have elapsed exactly almost to the day that a stock market decline occurs.
Indicators are not meaningful in a major uptrend…did you see the volume on the double bear silver etf ZSL, 33 million shares last wed, and 35 million shares the friday before…point being too many guys trying to pick the top, that is not how tops are made, there should be one more spike coming to squeeze those shorts one more time and then this will only be a correction…..listen to Ross Clark…..better yet take a look at the DXY chart and ask yourself, which direction is it going and which direction does the US need it to go?
good luck
HOYE YOU NEED TO ASK THE QUESTION
“WHAT IF I AM WRONG”……IS IS AMAZING TO THINK THAT YOU HAVE ALL THE ANSWERS…WHAT AN EGO