Silver Passes $37 as U.S. Inflation Nears 9%
Silver chart. The green line is today (Wed). Nice pop.
Hard to believe it was just two months ago, with silver trading around $27, when we published "Silver Chart Indicates $37.50 Possible."
Inflation Shows Up
Consumer inflation is heating up, and could already be around 9% in the U.S., as we reported a few weeks back.
Here's an updated graph from Shadowstats.com, where economist John Williams' alternate measure pegs consumer inflation at around 9%.
If you're wondering why "official" consumer inflation (red line) is so low, there are a few factors at play. For one, housing is 42% of the Feds' index.
Second, the mix of products and services that make up CPI is constantly being "adjusted" by inflation-friendly neo-Keynesian economists.
It just so happens that these "adjustments" mask price inflation. You'll notice that the Fed is not often accused of overestimating inflation.
Also see MIT's Billion Prices Project for more alternate inflation data.+23
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Silver Chart Indicates $37.50 Possible
Jesse of Jesse's cafe offers us an intriguing silver chart, and says the 4th leg of this bull market could carry prices to $37.50.