Many signs have pointed to deep pressure put on them by some in the administration to hold off and have a wait and see attitude until after QE2, though there were no economists who believed that QE2 was going to be the magical panacea that Bernanke demanded it be. It remains to be seen if S&P will now take the plunge, especially with the US Dollar sinking sharply, the US monetizing it's own debt and continuing to keep the money printing presses in action, thereby contributing mightily to the devaluation of the dollar and the incoming inflation that experts say has reared it's ugly head and is about to become quite a problem, given the high unemployment numbers, the rising prices, the stagnant wages, all of which combine to put additional pressure on the Treasuries and the Dollar and neither have any good news on which to base a rally.
Spot silver is up nearly 60% just so far this year alone. It settled at $49.13 an oz yesterday after teasing $50/oz, but still higher than 1980 when the Hunt Brothers were cornering the market in silver. Yet another day, silver made another new high. Gold also hit another record high to settle at $1539.40/oz at close of NYMerc.
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