Wednesday, April 09, 2008

Bullish Outside Day in Gold

Wednesday produced a bullish outside day in gold and an almost one in silver.

IMF puts cost of credit crisis at $945bn

[If the IMF is putting the cost at just below 1 trillion dollars, it will probably be more like in the tens and tens of trillions. They could not see the problem untill recently instead of years and years ago when the problem was first starting. So, how come they can all of a sudden see how much the problem will cost in total? Where was the IMF just last year in 2007 when almost all of Wall Street was saying the US was in a Goldilocks economy. The IMF was silent.]

"It's puzzling why bankers have come up with these new ways to lose money when the old ways were working so well." --Wells Fargo CEO John Stumpf

The "Mother of all Crises," - Paul Volcker, former head of the Fed, April 8, 2008

Good to see this gold outside day and the silver almost outside day.

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