In response to:

Gold Trends Higher, Silver Stays Strong

Henry_lII Wrote: Nov 24, 2012 11:04 AM
A Republican friend of mine from Kentucky joined the Tea Party Express. Several years ago when George W. Bush was president he was worried that the USA and the European Union would drastically reduce farm subsidies so that Third World countries might have the opportunity to export their agricultural products here. He said at the time, "It's true that billions of dollars of farm subsidies each year gives American farmers an unfair competitive advantage over farmers from impoverished nations. However, if farm subsidies are cut, the farm states should still get their due in the form of money for conservation."
Henry_lII Wrote: Nov 24, 2012 11:05 AM
I said, "You mean, the American farmer should continue to get paid by the American taxpayer to mow his own lawn and plant trees on his own land?"

"Yes", he said "and most Republicans in America's heartland, basically, feel the same way."

I have come to the conclusion that these Republicans are collectivist statists, whose fundamental philosophy is 'Big government for me, little government for you."

.....but they will never, ever tell you that.

The euro continued to gain ground against the dollar as precious metals prices moved higher. 

Gold was up $4.57 to $1,734.17 and silver also up $0.06 to $33.40, for a silver/gold ratio slightly higher at 51.9.

I’ve been stressing all week that the trends we see in precious metals should be taken with a grain of salt.  There was no trading in U.S. markets on Thursday and only a half-day on Friday; many traders took the whole week off and volume has been relatively soft. 


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