5 things to look for that will Impact Silver

Wealth Wire - The largest silver producing mine in the world is the Cannington mine in Australia. Silver production at Cannington declined from 38.6 million oz in 2010, to only 32.2 million oz in 2011. The Fresnillo mine, which is the second highest silver producer in the world, saw its output drop from 35.9 million oz in 2010 down to 30.3 million oz in 2011.

For sake of clarity, Fresnillo plc is the name of the largest primary silver mining company in the world that operates several gold and silver projects. Fresnillo is also the name of its largest silver mine. Cannington’s silver ore grades fell from 453 g/t (grams per ton) at year end in 2010 to an average of only 352 g/t compared to the same period in 2011. This damage of declining ore grades becomes even more apparent when we look at the total amount of ore milled each year. In 2010, Cannington milled a total of 3,075,000 tonnes of ore compared to 3,213,000 tonnes in 2011. Even with a small increase in total milled ore in 2011 over 2010; Cannington’s silver production decreased 16.5%.

 IN THE END There is a war going between those who favor gold-silver and others who are clinging onto the last remnants of the US Dollar. The tactics utilized by the fiat monetary authorities in this campaign have been strategic dumping of massive gold and silver contracts, as well as the control of market sentiment by negative hit pieces put out by MSM analysts. While the conspiracy to manipulate the precious metal markets is more than likely being accomplished by only a select few, the majority of the damage is taking place in computer algorithm trading programs and through clueless analysts who get paid to regurgitate the information that is spoon-fed to them.
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Greek politicians traded insults and accusations following new talks with President Karolos Papoulias - Forex Insight

Europe is keeping a nervous eye on Greece, fearing that the political chaos there could lead to defaults on debt that could threaten the future of the euro. Greek failure -- or refusal -- to make debt payments could hurt banks across Europe. The talks with Papoulias came a week after elections in which angry voters punished mainstream parties by backing a range of fringe groups.

If no government can be cobbled together by May 17, new elections must be called. They would take place next month. Papoulias said he hoped he could help form a unity government, adding that "things in Greece are quite difficult" -- but things only looked more difficult after Sunday's talks.

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Centralized banks are a pillar of marxist ideology.

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Dollar held gains on the Yen having bounced from 2-1/2-month lows after upbeat ISM -Forex Insight

The ISM report showed the strongest rate of growth in 10 months, countering recent speculation the Federal Reserve will embark on a third round of bond buying to bolster the economy.

The dollar rebounded above 80.00 yen and last stood at 80.110. Its recovery from a trough of 79.640 yen caught speculators short and forced them to buy back the dollar.

 Immediate resistance was found at Monday's high of 80.39, ahead of 80.45/50, the 38.2 percent retracement of the 81.78/79.64 move. Support is seen at 79.60 yen, the 100-day moving average. The euro retreated to $1.32365, having briefly touched a one-month peak of $1.3284 overnight. The single currency has been stuck around $1.3235/45 for four trading days with dealers citing talk of central banks on both sides of the market to hem in price action. - Reuters link

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There is No Bubble In China

Jim Rogers : There is No Bubble In China

Jim Rogers: I don’t know how long China will stay tough. I would hope they’d stay tough much longer, because they’ve got to kill inflation too. But if anybody thinks there’s a bubble in China, they haven’t been doing their homework. The bubble popped. Prices have come down and are continuing to come down.