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Endeavour Silver Corp. Message Board

  • quailrunrd quailrunrd May 15, 2013 1:55 PM Flag

    Crashing dollar....rising gold/silver????

    A long term PM bull like myself invests heavily in EXK, other miners, and lots of physical based primarily on the concept that the U.S. dollar is over printed and the country is over indebted. History tells us that our much abused fiat currency is destined to become worthless. But I am beginning to suspect that the "powers to be" have more than one ace up their sleeve.

    The latest gambit in supporting the U.S. dollar is the recently floated scheme suggesting the U.S. will overcome Saudi Arabia as the world's biggest producer of oil. We are now looking like a energy resource rich country and our current account deficit should drastically shrink as our oil imports of the past were a huge component in our trade deficit. We are now being told that the U.S. may become an oil exporter. And the oil fracking business is supposedly going to drive job growth. All great factors supporting a strengthening country and a stronger currency.

    But fracking technology has been around for over 40 years so why the big revelation today? And fracking will open up oil production in countries around the globe which spells doom for the "petro dollar", one of the major crutches supporting the U.S. dollar as the "reserve currency".

    So what's my point? Something tells me the banker/government syndicate can drive this U.S. dollar move upwards longer than most suspect. And how many more aces do they have up their sleeves? It's going to be a bumpy ride for PM's and, unfortunately for my EXK investment.....a PM price turnaround may not be close at hand! I'm hanging on for now as fundamentals will eventually catch up and burn the game players using fiat currency as their weapons of choice.

    GLTA! If we see a $3 handle on EXK, I may have to secure a heavy prescription of prozac. Ha ha

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