Review Of Ed Steer's Gold and Silver Daily: A Must Read For The Serious Silver and Gold Investor

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Review Of Ed Steer’s Gold and Silver Daily: A Must Read For The Serious Silver and Gold Investor

August 27th, 2009 admin Leave a comment Go to comments

Ed Steer’s Gold And Silver Daily is a must-read – especially for the new silver coin investor.

http://www.caseyresearch.com/the-casey-difference/our-staff/21/ed-steer/

Ed Steer, correspondent-at-large for Casey Research is a keen observer of the financial scene and a director of the Gold Anti-Trust Action Committee (GATA).

And if that were not enough – he’s a good friend of the esteemed silver guru, Ted Butler.

So yes, The Gold and Silver Daily may be written for the serious (and passionate) silver and gold investor. However, it is a good place to hit the ground running for the relatively new on the silver and gold new scene.

This is an excellent, short and friendly read that can start you off with just about all you need to know for the basics in short term trading.

Now that doesn’t mean than the newly initiated will not to think and do some homework. There is a technical language spoken here.

And you’ll need some knowledge of how options work – especially trading on the short-side.

A few terms you will need to become familiar with include:

Open interest

Swaps

Spreads

Concentrated Short position

Bullion banks

Commercials

And you’ll need to get an overall sense of who these futures traders are. And what is a bullion bank?

Maybe we’ll put together a primer on gold and silver futures trading in the future, but for now, we think that if you’ve made it this far – you can handle jumping right in the what Steer has to offer.

Bookmark the site and from it. Soon your knowledge and passion for this sector will grow.

The Details:

Yes, these daily reports are useful for the more advanced trader, but again, if you are like us, and lets say that from time to time, the opportunity arises where you can add to your investment – this is a place where you can check-in and see about a few ‘extra’ signs that prices are gearing for a dip into negative territory. (Buying a few silver coins on dips).

Also, this the quintessential contrarion or non-mainstream view. In other words, what you need to expose yourself to. The view you GATA have.

The background is this: Basically there is an ongoing battle to keep gold and silver prices low or in control, stealing money from honest investors in the process.

The gold and silver furtures market (COMEX) basically functions like a mini printing press, papering over physical gold and silver – thereby smothering the value of the physical metal.
t is all to easy to feel helpless and lose hope that there will be a fortunate ending

It is difficult to avoid channeling that helplessness into anger and then walk around with that feeling – which is ultimately unproductive.

Indeed, I cannot count the number of times I’ve begun a civil conversation about the silver markets with the un-initated that didn’t lead to some sort of emotional plea for understanding the outright crime of it all.

Even if you are skeptical that there could exist such a coordinated effort to distort prices, I would highly advise that you educate yourself about this anyway. And the Gold and Silver Daily is as good a (free) place as any.

Go there and live in this for a while and you will come to know the evidence – and probably begin to question a lot of assumptions that society makes about the motives behind those in power.

And of course, you’ll probably want to go out add a few coins to your collection.

Each Gold and Silver Daily contains:

Play by play summary of each trading day’s technicals, including price, open interest, and volume data from the futures market, as well as the mainstream view about the day’s trading.

You also get high-quality, working links to precious metals and financial news from around the world.

You get a concise overview of the latest developments in these markets – with brief comments about those articles.

Plus, from time to time, an update from the trenches of the GATA and Silver (Ted Butler) army.

Here’s an excerpt and a link to give you a flavor:

And lastly is another piece that I highlighted during the transition phase to this new column. It, too, is commentary that is not to be missed. It’s contained in a GATA dispatch with a preamble by GATA’s secretary treasurer, Chris Powell. As I said in my previous comments about this report… it’s certainly above my pay grade in places, but it’s not the parts that I don’t understand that scare me. I urge you to spend some time on this 9-page offering entitled “A Grand Unified Theory of Market Manipulation”… and the link.

There are a few ads, but we didn’t mind. They are easy to scroll through and many of them have Ed’s voice intertwined -so it doesn’t interupt the flow.

In summary:

It’s a good place to go to get a real taste of the nitty-gritty dynamics of the COMEX trade.

There is good flow and easy options to get out and follow a useful link to with the content – if you choose.

This is for more for the serious gold or silver bug, but I think a good place for the newly initiate who want to make this more than a simple hedge you put away and forget about.

But you’ll need some of that intestinal fortitude as you go deep into the bizarre realm of the short-term, manipulated world, temporarily leaving behind the most important reasons for being here to begin with – the long term factors. I can’t stress this enough.

Those of us with a passion for silver coin investing as not only a way to protect wealth, but also for the opportunity to own something of real (and potentially great) value have a difficult time going down the road of the short-term.

Just as we are reminded of the manipulation and tight control over these (and all) markets.

As we wade into the evidence as commentary at Steer’s Daily, we can add one of the most compelling arguments for holding physical metal.

Bottom line, our world needs more people like Ed and the folks from GATA.

Here’s a list of the posts reviewed for this review. Go ahead a check them out:
What Golden Secret is the Federal Reserve Hiding?
August 22, 2009

The Russians are Coming! The Russians are Coming!
August 21, 2009

“GFMS Cooks the Books to Make Gold Look Bad”
August 20, 2009

European Central Banks Sell No Gold…Again!
August 19, 2009

“Da Boyz” are Back in Town!
August 18, 2009

China Tell Its Citizens: “Buy Silver Now!”
August 15, 2009

ETF’s Backed By Bullion
August 14, 2009

It’s free and you really have nothing to lose in being exposed to this aspect of precious metals world.