Silver Soars, Dollar Gets Whacked
Podcast: Download (Duration: 14:20 — 9.8MB)
Silver hits new high; party still on!
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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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Bob Hoye has a historical perspective. There are not too many other sources like him,
In Biblical times the gold:silver ratio was 7:1.
Where else will you get the understanding of ‘senior currency.’
How about a historical perspective on ‘manias?’
In the March of History the last couple years have been years of high risk. We could have accepted those risks and reaped some nice profits. At the time, the risks were not worth it. Only in hindsight can we say that the risks were worth it and that Bob’s constant warnings were wrong.
The last two years markets have defied all risk…. so lets blame Bob?
Bob Hoye seems to worship his 300 year historical record of trends in the relationship between gold and silver during economic cycles. However, his conclusions do not seem to take into account of:-
1. The shorting of metals by the unrestrained banking sector, JPM and HSBC, with regard to silver in particular, do not recognise that this concentrated power over price discovery that has been operating only for a few decades, but not the centuries covered by historical trends used by Bob to predicty current trends.
2. The supply / demand economics of silver production cannot be suspended indefinitely by paper silver transactions and also such practices were declared illegal (eg Bunker Hunt cornering) when not conducted by the Fed’s bankers.
3. Silver was also a monetary metal in legal tender for extensive periods over the last 300 years and it does not seem feasible compare these two metals for centuries.
Bob has underestimated the power of the Fed to force the markets
(my reference to Jim Puplava’s show ‘The Return of the Fedi – Obi Ben Bernanki’)
Here are my podcast records from Bob since August 2009:
HS bobhoye_2009_0814 turning point
(^ Silver was outperforming gold, Au:Ag ratio was 63 then)
HS bobhoye_2009_0918 frothy market rebound maturing
HS bobhoye_2009_1120 The Bubble Expands Froth everywhere!
HS bobhoye_2010_0205 The Coyote Looks Down
HS bobhoye_2010_0430 Rally Exhausted
HS bobhoye_2010_0730 Markets Set To Fall
HS bob_hoye_2010_1001 Fall Classic
HS bob_hoye_2010_1126 Caution Slippery Ahead
HS bob_hoye_2010_1203 Prices Are Impetuous Markets, commodities hot – change soon maybe
HS bob_hoye_2010_1210 Red Light For Santa Warning signs All One Market frays around the edges
HS bob_hoye_2011_0108 Momentum 1 Frenzy 0 silverbugs drinking koolaid
(Silver was $30 then ^)
HS bob_hoye_2011_0121 Character change in gold-silver ratio setback for markets Correction Zone
HS bob_hoye_2011_0311 Band Stops Playing Party Ends
HS bob_hoye_2011_0409 Silver Soars, Dollar Gets Whacked
(Gold-silver ratio now 37 ^)
From 2009-08-14 broadcast Bob figured a fall 2009 crash:
Typical Crash November (2008) rebound to May
but take 2nd crash (Obama Crash) March 2009 going 5 months to August 2009
expected the high in August 2009
and ever since.
Transmission trouble with the Alfa (the old one, not the new one).
Actually I hurried to get Probate on my late Dad’s shares in fall 2009, which was a good idea anyway, in case we got a 1930 style second crash. However we didn’t get one.
However, Obi Ben Bernanki worked his force and Dow is over 12000. My Dad’s UK portfolio would have gone up 50% had I not sold it and spent it! I know this because I kept the portfolio on Yahoo after I sold most of the shares.
However, I got to keep my gold and silver because I sold these shares
It’s a bit unfortunate for Bob here. He is almost as much a whipping boy was the US dollar!
However, Bob has pointed me towards many fascinating subjects to study, especially with his longer interviews on other networks.
Bob should read Rogoff’s latest book, since he’s such a scholar of financial history.
Bob has not learned the basic trading principle of “don’t fight the Fed”.