Silver, the quadruple bottom

Silver currently at 28.32 USD has formed a quadruple bottom.

This base at approximately 26 should hold.  If that breaks then it'll be 22.91 is strong support.  June and July are traditionally crash months for gold and silver.  And summer is supposed to be strong months.  However last year we had very strong run ins for gold and silver before the summer period, followed by weak performance in the summer months.  However we're not in normal times.  JP Morgan announced a 2 billion dollar loss in derivatives, as reported.  In reality it's more like 18 billion.  That is huge.  To understand how crazy that is, the top 10 US banks in the world hold 200 trillion dollars in derivatives.  The World GDP stands at only 70 trillion!!  There's a lot more derivatives in the world than real assets.  For me I hold both hard assets and speculative positions.  I believe Silver is the easiest way by far for anyone to get wealthy during this time period, if they know how to play the game.  I've added more 40 Strikes for December 2012 with an expectation that Silver will hit at least 60 before that time period.  I fully expect QE 3 to be announced in June, or some form of it.

Silver

I look at the graph of Silver now and it doesn't look pretty.  It's close to the December lows, and looks like it's going to head that way.  If that breaks, there's strong support at 22.86, bringing us back all the way to October 2010.  I strongly doubt that would happen though, unless severe deflation breaks loose.  If that's the case, be prepared to see the biggest QE ever.  My buying area would be around the $20-$28 level.  It's a large range, so it's probably best to scale in.  Goes the same with options.  I'm targeting Dec 2012 and March 2013 strikes $40 strikes, further out if need be.  I have a gut feeling when Silver moves again, instead of seeing the downward smashes that took place in May and Sept last year, we're going to see large rallies, and I mean like 10% movements in a day.

Gold standard definition

According to Harry Schultz.

There is no morality in fiat paper.  None, zero, nada.  No honesty, No trust, it's all built on lies.  I don't know how can people stand for this.  The entire financial system is a bloody scam.  Commerce is the lifeblood of any economy, yet no one is taught in school how money has come about, yet children are made to learn things that may never be of use to them, ever.  Amazing.

Today's spot Silver $30.63, down 26.48% from a year ago.  Today's spot Gold 1654.10, up 7.02% from a year ago.

Last year I said Silver will be $60 by June, looks like that's going to be by the end of December.  Gold, conservatively we're looking at $2000 to $2500.  However, if the US dollar collapses by the end of this year, which certain Elite have said it would, then higher prices will be expected.  I am positive we're now reaching a parabolic stage when everyone around the world will rush into the precious metals.  However, I don't expect Gold to hit $5000 or $10000 because a new currency will probably be introduced before that should happen.

Shown below, 15 year graphs of both metals.