Is this the correction?

[jim4silver]

Anyone have any guess on whether this recent downtrend will continue or reverse? Seems silver has dipped below its 50 day moving average for whatever that is worth.

PS Saw some interesting quotes from famous people regarding paper money and the banking system, etc someone sent me. Funny how way back when the politicians and industry leaders saw things that today seem to be missed by those in positions of power.


“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.”
― George Washington


"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
--Thomas Jefferson from a letter he wrote to John Taylor in 1816


"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
--Henry Ford


“At the end fiat money returns to its inner value—zero.”
-- Voltaire


Jim

 

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[quiksilver]

"The" of "A" correction. and as the say long term its better to buy on the dip .

 

[jim4silver]

"The" of "A" correction. and as the say long term its better to buy on the dip .

I specifically meant "the" because I believe this is the last, big correction before we enter the phase in this bull market that will show the largest possible gains. Often called "phase 3" or the "mania" phase where the greatest gains are made. We have not seen that yet based on what has happened in past bull markets in PMs and stocks, etc. Just my opinion but until we have a "phase 3 mania cycle" this bull market is not over. Since silver has yet to breach the high from the early 80s, it is not possible that we have entered phase 3 yet.

It may not come for a while, but it has not come yet either I believe.

Jim