by Chris Waltzek
Bill Murphy from GATA.org kissed the Blarney stone on St. Patrick’s day, which evidently sent silver flying higher by 5%; the gold to silver ratio plunged from a recent high of 83 to 79 – AG is poised for an explosive advance, our guest says the PMs cartel has lost control of the metals markets. There has been a 100% retracement of the 2011 rally to $50, which subsequently ignited a three stage, Saturn V rocket launch into orbit. Our guest is watching $18.50 resistance – if breached, silver bulls could run the world’s most useful precious metal to as high as $25 in short order. Nevertheless, that could be just the opening salvo – he’s calling for $100+ silver, an epic advance that might have already begun in earnest. The host outlines a Fibonacci retracement from the $50 peak to the recent $13.50 nadir that suggests the following targets: $21, $30 and $37 followed by $50 and then triple digits in the coming years. Bill Murphy’s takeaway point: why worry about a few dollars on the downside if the rally fades when the upside is triple digits for silver bulls?