Deja-Vu All-Over-Again?
As silver and gold continue to consolidate as June comes to a close, many are searching for the trigger that begins the next major move up in precious metals.
Silver has spent the past 2 months correcting nearly 40% from recent highs near $50, while gold has spent the past 2 months consolidating mostly sideways above $1500.
While any number of events could trigger the next major precious metals move- from the US Debt Ceiling issues, to the Euro/ Greek debt crisis, to QE3, etc, many are overlooking a potential trigger for the ignition of the next major leg up.
Think back to 2010's monster move in gold and silver- what was it that initially started this rally?
Many have attributed last year's rally (especially silver's massive rally from ~ $17 to nearly $50 in under 10 months) to Andrew Maguire's whistle-blower testimony at CFTC hearings in late March of 2010 exposing JP Morgan's manipulation of silver markets.
Maguire's shocking revelations brought even marginal MAINSTREAM attention to silver, and the metal never looked back until nearly $50 in early May 2011.
The Doc wonders whether the next major rally in precious metals (and especially silver) might again be precipitated by Maguire.
For those who have forgotten, the whistle-blower is scheduled to appear at GATA's Gold Rush 2011 Conference in London this August.
Interesting that Ben Davies, who is also scheduled to appear at Gold Rush 2011 has been calling for the next major move up to begin in Aug-Sept.
Perhaps Ben is expecting significant further details from Maguire regarding silver manipulation by The Morgue?
