Liquidating 401k for home purchase
When Columbus arrived in America (1492), the world was only producing 7 million oz of silver a year. One silver mine last year produced three times the global amount in 1493. Peaks indicated are in 1987, 2007, and potentially 2017.
Today, the world’s largest primary silver mine, Fresnillo’s Sauicto Mine, produced three times that amount in just one year (22 million oz, 2016). The pause in 1997 was not a top because the market rally extended into early 2000.
Instead, I was consumed with a slow, simmering rage not unlike the emotion one feels at returning to a burgled home or boosted auto. US dollar Index is on the verge of a technical breakdown.Bear Stearns failed as a firm due to a variety of problems which, in effect, caused a run on the bank.But what makes the failure and subsequent takeover so prominent in silver history was the revelation shortly thereafter that Bear had been the biggest short seller in COMEX silver and gold futures and was replaced in that role by JPMorgan.Here’s a thought that I fully acknowledge didn’t originate with me, but from a close associate, even though it incorporates many of my findings.If it does come to fruition, I will gladly reveal my associate’s identity to give him his proper due; but in case it doesn’t, I’ll spare him any embarrassment for an incorrect premise.
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That strategy will convert a sterile investment into one that pays dividends, and possibly double the ounces you own over the life of the bull market We approach 2018 having seen the seeds planted in recent years for a monetary revolution.