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Tuesday, July 12, 2011

James Turk : Gold and Silver prices to go on fire this summer

James Turk : Well I think the precious metals are going to do quite well this summer. And I don’t agree that QE2 is going to end in June. It may “end” in June but it is not going to end on August 2nd because on August 2nd the US government is going to increase its spending limit probably by $2 trillion and the Federal Reserve is going to have to step in and start buying some of that government debt and run the printing presses again with all this new money creation. And I think that is what is going to light a fire under both gold and silver this summer. extract with an interview with Chris Martenson published on infowars.com today . James Turk explains why he expects: - The US Government to raise the debt ceiling in August, which will require the Federal Reserve to print more money in order to soak up the new debt, sending gold and silver prices much higher this summer.The banksters will use some of that money to purchase paper shorts on Silver at the comex. How do I know? They have already been doing from QE1 to QE2. They have done a really good job keeping the price down and yet Silver is up 900% since 2001. While the cental banks of China India Russia and others have been focusing on Gold their efforts have resulted in a 600% increase in the price of Gold. Objectively speaking Gold could very well outperform Silver. I’m sticking with the devil’s metal however. Crash JP Morgan. Buy Silver.

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