Waiting for Godot

When it comes to the silver markets, it feels like I am just sitting around waiting for Godot.

So while we are waiting I thought I just might ask a simple question. In my photo, I have a Federal Reserve Note worth One Dollar. I also have two silver half dollars, oddly enough worth One Dollar.

The question is, does that seem right to you?

If I went into the store and made a One Dollar purchase both the Federal Reserve Note and the two Silver Half Dollars would satisfy the bill.

Does that seem right to you?

So our fearless leader has spoken!

And this is what the US Government dictates every single day. We must conform to the "legal fiction" that two silver Half Dollars have the same purchasing power of one Federal Reserve Note.

If you ever question the experts or the US Government then you are a . . . .

As a proud member of the First Brigade of the Army Tinfoil Hats, I where that title proudly!

Although the @MrsHandofzara has informed me that I am no longer permitted to wear my hat in public.

(Too many people starting asking me questions, and we never got anything done.)

Anyway, let me know what you think in the COMMENTS below, as to the question concerning the value of silver coins versus the Federal Reserve Note.

Now for something completely different . . . the charts.

Above is the Weekly Chart of silver. I have been NEUTRAL on silver for several weeks. However, I have been keeping an eye on the action as of late simply because the current action is how "bottoms" are formed. On the Weekly Chart silver put in a LOW of $17.65 per ounce. In late December, silver put in a HIGHER HIGH of $24.75, which has, as of late, sold off.

What I am keeping an eye on at present is to see if silver can put in a HIGHER LOW.

An uptrend is defined as a series of HIGHER HIGHS and HIGHER LOWS. The key to reversals in markets, in my humble opinion, is the HIGHER LOW, which we have not seen yet and thus we are simply waiting for Godot.

The weekly chart of gold is looking very similar to silver, although slightly stronger as the recent sell off has not been as strong. I am also NEUTRAL on gold at this juncture.

So there you have it. I am NEUTRAL in the precious metals as of now but I am waiting.

Peace Out and Stack On!

And don't forget to let me know what you think about the difference or rather the sameness of the Federal Reserve Note and the two silver Half Dollars in the Comments.