With the world's government's coordinated attack to devalue their currencies by bailing out our financial institutions (Unprecedented Times, Unprecedented Moves) I feel more confidant that gold (and by proxy silver) will continue to be positive positions in the coming year or two. As each dollar/euro/UK pound/loonie is printed out to help bail out our subprime nation, hard assets have that much more value.
I will rebuy this very volatile position on a pullback.
Original proposition for buying Silver Wheaton (SLW) here [Market Seems to be Holding - Adding 2 Weak Dollar Plays]. As an aside, since that entry in mid November, the Canadian and UK central banks have done surprising rate cuts to help bail out the debtor nation aka us. Hence their currencies have started to weaken. The euro has held up decently however, as they have held rates steady (and even talk of raising rates due to inflation? gasp!) and have chosen instead to flood the region with half a trillion in repos [Libor Rates Plummet on Half a Trillion Infusion by ECB] I guess in a 'relative' sense, this is the least of all evils ... buying worthless junk from the banks for longer and longer periods - remember, the length of time the central banks have agreed to hold this toxic junk gets incrementally longer each month longer we get into this mess. At some point I just expect them to say - "give us your tired, your poor" B.S. loans for years, and once we get through this "patch" you can buy it back from us... like in 2011. I mean after all we are freezing subprime loans for 5 years - why not give the banks the bailout they justly deserve too.
Long Silver Wheaton in fund; no personal position
