Strategists at Credit Suisse have noted a great silver performance lately and expect the white metal to look for the $26.22 resistance on a break above $21.14. What’s more, Gold/Silver ratio shows the latter is in line to extend its outperformance.
“Silver continues to push its way higher and there are seen clear similarities between price action now and that of gold last year. However, only above 19.65/21.14 would see a multi-year base confirmed, with next resistance then seen at $26.22.”
“The Gold/Silver ratio is also back pressuring price and retracement support, beneath which would suggest silver can extend its current outperformance. At present though, this is still a correction within the longer-term gold outperformance trend.”
A woman wearing a dress made of cash, Germany, 1923.
THESE are the shocking images that reveal the full horror of hyperinflation in post Great War Germany ñ when money was literally worthless. In 1923, Germany was hit by one of the worst cases of hyperinflation in history, with 4.2 trillions marks worth just one American dollar. This out-of-control inflation began somewhat mildly during World War I, as the German government printed unbacked currency and borrowed money to finance military expenditures. The strategy was to pay off the debts by seizing resource-rich territories and imposing reparations on the vanquished Allies. But when Germany lost the war and ended up with massive debts, including huge reparations to be paid to the Allies under the Treaty of Versailles. The country found themselves in economic crisis and increasingly unable to afford the hefty reparation payments.
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