Legendary trader Yra Harris (often quoted by Jim Sinclair) says, “The currency wars are real, and the game is on.” Harris says the global currency war is what helped Volkswagen gain market share in the last few years. So, what is Japan doing? It is cutting the value of its currency so Toyota will gain market share.
The currency war is also what’s been driving gold higher. Harris says, “Is gold in a bull market? Absolutely. Is gold a tired bull for the moment? Absolutely. . . . I think you’d be crazy to sell because there are so many variables of uncertainty.” Harris goes on to predict, “What do I think is the most explosive event for gold? It is the day Draghi (President of the ECB) can no longer jawbone quantitative easing. He actually has to step up to the plate.” Harris is counting on the Fed to continue to pump out dollars. He says, “I can go to sleep at night and know one thing–the Fed will not allow deflation.” The reason is simple, according to Harris, “We live on debt in this society. Debt based societies cannot absorb a deflationary spiral.” Join Greg Hunter as he goes One-on-One with analyst and trader Yra Harris.
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they sure are.. they seem to have a common enemy, looking at the price action on silver in the last 5 minutes.
Litttle of the subject as why in the heck Silver and Gold are still in the tanking mode!
don’t you love it… currency wars apparently, and supposedly in full effect, but in US and canadian dollars it has been one drive by shooting after another for silver.
Oh well apparently the local constabularies from across the world have been busy getting ready to bring down the vatican. Presumably the silver market is next, since the crimes are so obvious. I’ll be in the corner holding my breath!
Currency wars are not every man(country) for themselves as most pundits would have you believe. There are 3 main combatants. The key is to realize that the USDx means nothing. The dollar index is only a measure of relative strength, not absolute strength. Japan, London, the E.U., and the U.S. are on one side. The Yuan(China) and Russia are on another side. And gold is the third side. Having gold will mean you remain sovereign. No gold will mean no oil. No oil means no food and social and economic collapse for your country.
Owning gold/silver means you don’t play their debt games. Other than ongoing medical bills related to being disabled I have $700 in debt because I maxed my credit cards to buy silver during the last dip. I will repay it with devalued dollars.