Dollar Ready to Collapse, Silver Squeeze to Continue

With gold higher and silver up almost $1.30, King World News today interviewed James Turk out of Spain. Turk had this rather frightening warning about the dollar, “The dollar right now is hanging on the precipice. If we break below 77 on the dollar index, look out below. I don’t think people really appreciate how scary the dollar chart is here, or how ominous the implications really are. There’s no predicting how far the dollar could plunge if confidence breaks.”

Turk continues:

“You’ve got civil war breaking out in North Africa and you have rebellions happening in the Middle-East. In this kind of geopolitical situation, in the past the US dollar would always rally, but this time it can’t even bounce. You know Eric the other side of this coin is that if the dollar falls off the edge of a cliff, precious metals are going to skyrocket.”

When asked about silver Turk stated, “During the most illiquid time of the trading day, somebody decided to take out all of the stops in silver. If you were not following during business hours in the Pacific Ocean you missed it. I woke up this morning and looked at the chart and couldn’t believe what happened while I was sleeping.

The important point Eric is that no technical damage was done and in fact the situation has become even more bullish because that little smack down overnight took out all of the weak hands.

With this month’s important options expiry now behind us, I’m looking for higher prices next week. Even though the March/May spread has flattened a little, the backwardation continues to grow to 2015 and has ballooned further to $1.16. The short squeeze is continuing to develop. The shorts are trapped and whether the trap springs this week or in a month or two I don’t know, but we are getting very close.”

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Full article here: KingWorldNews

3 thoughts on “Dollar Ready to Collapse, Silver Squeeze to Continue

    • – I am not earning any money with your posts or any other posts. In fact I’ve got 2 euros in donations for the entire year 2010!!!

      – I am linking to the source, which should make your website more popular, not mine.

      – Copyright material does not infringe copyright if it is for the following purposes:

      1. Research and/or private study

      2. Reporting current events.

      3. Criticism and/or review

      My purpose for posting all these articles is to warn the people about what is going on right now.

      If we can stop the elitists agenda, then we all will live more rich, loving and peaceful lives.

      If not we will live as slaves.

  1. Infinite, keep up the good work. And THANK YOU for all your efforts. The world need more people like you.

    By the way, humanity ARE enslaved and some (many) are aware of it and are doing their best to spread real news in an attempt to enlighten those who are looking for Truth. It can many times be an unappreciative work, but if we aren’t doing it, who will?

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