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October 4, 2011 / Jeb

Correction In Precious Metals Brings Opportunity In Miners

Stock markets are tumbling from Japan to Wall Street. Already shaky Spanish and Italian financial instruments are quaking in their fancy boots as Greece does not make the cuts needed to be able to receive financial assistance. Vladimir Putin, a prototypical example of a classic Russian Bear says that the American Bull has blunted horns and suffers from impotence. He states, “Americans are living beyond their means and shifting the weight of their problems to the world economy…They are living like parasites off the global economy and their monopoly of the dollar.” China joined Putin by calling the brouhaha in the West as “madcap brinksmanship.” The scepter of fear is haunting the fiscal world from West To East. International turbulence is precipitating a search for safe havens. Treasuries (TLT) are hitting new highs, the U.S. dollar (UUP) has bounced versus other currencies, commodities (DBC) are being sold off and gold(GLD) and silver (SLV) bullion’s volatility has increased significantly.

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