All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
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Thursday, March 31, 2011

JAMES TURK : Silver in Prolonged backwardation

I a recent interview with the french radio host Jovanovic James Turk from Paris gave his prognostication about the Gold and Silver market and answered a range of other questions , he said that he predicts Gold price to hit $1800 before June and Silver $50 in a couple of months , in the video James Turk starts speaking at around 02:11 and he speaks in English with a french translation , so you can watch the video even if you do not understand french

James Turk says that Silver is in a prolonged backwardation , basically silver was in a backwardation since January , a backwardatio happens when the spot prices are higher than the Future prices it is a very rare very unusual very bullish situation , normally when a commodity goes into backwardation it lasts just for a short time but Silver was in backwardation since January , even if the price of silver has risen it remained in backwardation which is very very rare says James Turk "my long term forecast for Gold and Silver and this is a forecast that I made in 2003 , it is $8000 Gold and $400 Silver sometime between 2013 and 2015 " he says

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