The Silver Lining To US Precious Metals Futures
Currently there is an effort in the works on behalf of various special interest groups to undermine the profitability of JP Morgan Chase through the rampant purchase of silver to cause problems with their silver futures programs. Such initiatives have already spurred silver shortages throughout the US and may just have a negative impact on JP Morgan Chase as the movement's participants intended, so what does this mean to the forex currency exchange? Well if JP Morgan Chase is on the verge of collapse it will inevitably result in another US bailout to prevent catastrophe. If this occurs it will mean the creation of even more money, and this amount will be in the hundreds of billions of dollars...
If you add that to the six hundred billion dollars already being created this year alone you have a recipe for absolute disaster. As things move along we can only begin to imagine the sort of fallout involved but one this is for sure, it will not be good for the United States or the USD. There will likely also be fallout in Canada that is closely tied to the United States, and there would also likely be a strong reaction from China as well.
Such events while unlikely are still entirely possible and should be watched carefully by traders to make sure they are on the right end of a trade. Silver continues to gain strength and value, this is evident because it was $26.00 an ounce a month ago and is now almost $34.00 an ounce.
Silver Update 2011 A Parabolic Top $ 714 per Ounce
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