Michael J. Ballanger Thursday, September 7th

Source: Streetwise Reports

Silver has lagged behind gold, says precious metals expert Michael Ballanger, who explains why he believes that is about to change.

In grade school, I had a classmate named Craig McVeigh who was easily one of the most maligned kids in the school because as a big lad standing a full hand width taller than anyone and weighing thirty pounds more than anyone, he was never allowed to play in any sports that involved physical contact. Craig was fair, with bright, curly red hair with freckles adorning most of his exposed skin. Most of all, this lumbering giant of a boy was decidedly unlucky. He couldn't catch a break with a butterfly net and a Geiger counter. In class, the kids would be stirring up trouble by firing spitballs at him and at after what felt like an eternity of pelting the poor guy, Craig would finally rear up with his lunch straw and begin to return fire at EXACTLY the precise second that the teacher took notice of the skullduggery and sure enough, Big Craig would be ordered to the corner of the room or out in the hall to await further punishment. On another occasion, a few years later in high school, we were engaged in underage beer drinking at the Claireville Dam and since our ride had left early, we loaded all of the empty bottles into Craig's old Ford pickup truck and then left to retrieve another load when we suddenly saw flashing lights and ran back to see Craig being carted off for carrying open alcohol in his vehicle. The fact that the poor slob was a non-drinker made it doubly bad but the fact remained that Craig McVeigh was one unlucky human being and one that resembled with great alacrity the current state of the silver market.

The last time the Commercial Cretins were caught short into a monster move was back in September 2010 after two attempted breakouts above $19.25 were soundly rejected by way of blatant interventions. As gold was answering the class quiz with answer after answer of incredible accuracy, silver was stumbling along in a miasma of pitifully wrong responses until late in the game when it finally caught a breeze and with sails full, went on a screaming, uninterrupted, three-month ride to over $31.00 (making me and a few others extremely happy including, in order of priority, my significant other, my bank manager, and my dog). It was a wondrous event watching open interest DECLINE into a rising silver market and it is one that I am fully expecting here in 2017.