Will silver regain its long-term value to gold?

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Comment on a discussion about hacked drone in Iran

seek "Details of the hack have already appeared in the hacking circles. It was pretty simple (and simply brilliant.) It consisted of two jamming mechanisms. 1) Jammed primary communications link between drone and US controllers. This put the drone into a "go back home" mode. It's preprogrammed to fly back to a US controlled airport and automatically land on a long-term loss of communications. 2) (this is the fucking brilliant part) Using a known GPS vulnerability, a second set of jammers transmitted a replacement GPS signal that allowed Iran to skew the GPS-derived location at will (in essenence, transmitting their own localized GPS signal that results in incorrect, but controllable, positioning data.) The used #2 to make the drone think it was landing at its home base, when in reality it was landing in Iran. This is why the drone was in such good shape, it was executing a controlled landing in what it believed was friendly territory. Shame is the #2 vulnerability apparently was well known and documented years ago, and not corrected."

Morgan Stanley to cut 1,600 jobs

(Reuters) - Morgan Stanley will cut 1,600 employees in the first quarter, the bank said on Thursday, as it trims costs in a difficult period for trading and banking revenue. The job cuts will come across all staff levels and geographic areas, spokesman Mark Lake said, including investment banking, trading and back-office functions. Morgan Stanley is one of the last big Wall Street banks to announce major job cuts as analysts have begun slashing fourth-quarter earnings estimates. Other banks, including Goldman Sachs Group Inc , JPMorgan Chase & Co , Bank of America Corp and Citigroup Inc have already outlined plans to cut thousands of jobs this year. Morgan Stanley had kept firings limited to several hundred underperforming financial advisers earlier in 2011, but is now extending the cuts to banking and trading.

Iran to practice closing Straight of Hormuz

From Reuters via Zerohedge:

A member of the Iranian parliament's National Security Committee said on Monday that the military was set to practise its ability to close the Gulf to shipping at the narrow Strait of Hormuz, the most important oil transit channel in the world, but there was no official confirmation. The legislator, Parviz Sarvari, told the student news agency ISNA: "Soon we will hold a military manoeuvre on how to close the Strait of Hormuz. If the world wants to make the region insecure, we will make the world insecure." Contacted by Reuters, a spokesman for the Iranian military declined to comment.

Voltaire recognized that paper money eventually devalues

"Paper money eventually returns to its intrinsic value - zero." (Voltaire, 1694-1778).

Investment demand for silver overtook industrial demand in 2010

Chart found in precious metal forum:

Client gold lost in MF Global shuffle

HSBC Sues MF Global Over $850,000 of Gold