The gold/silver market farce is reaching new heights, or should that be lows, in its counterintuitive nature…
*For many months now we have documented the growing daily intensity of The Gold Cartel’s efforts to suppress the gold and silver prices.
*These suppression efforts have been obvious to the GATA camp ever since the ill-fated hedge fund, Long Term Capital Management, blew up in September of 1998. However, what we have witnessed since late fall in terms of daily interventions, which are easy to spot in terms of their repetitive rapidity, are unprecedented.
*There must be a reason for this intensity … for The Gold Cartel to go so blatant and go against, or take on, natural market tendencies. It is the strong suspicion of many in the GATA camp it is because the western powers, especially the US, are desperate in that they have no palatable solutions to growing fiscal crises. They are worsening by the month as "kick the can" remains in vogue.
*Black is White and White is Black. Because the fundamentals ares so gold and silver friendly, The Gold Cartel is going all out to defuse the widely watched barometer of US financial market health, that being gold. To aid, and help substantiate this effort, they have drawn silver into their SHOOT THE MESSENGER daily routines.
*Counterintuitive precious metals market action is an understatement. There would not have been ONE market pundit, outside of the nefarious Jeff Christian and ill-fated Jon "The Nitwit" Nadler, who would have predicted nearly a $100 drop in the gold price with…
-QE3, QE4, Japanese QE, the euro rising sharply against the dollar, WTI crude oil approaching $100 per barrel and Brent approaching $120.
-The US failing to do anything about our growing fiscal deficits.
This morning was par for The Gold Cartel course. The euro was higher, as was oil, as were most of the stock markets, including the DOW. Yet, gold and silver were under pressure again, with gold dropping to $1640 at its low, and silver at its low of $30.64.
*The only pretense for gold being under pressure was gobbledygook talk by the G-7 powers about currencies. It is incredibly silly as if they are playing Ring Around The Rosy, uttering rhetoric which is inane … and, outside of some immediate, short term effect on the volatile yen, has no effect on other markets except for gold and silver. This is blatant cover for more intervention. But because PRICE ACTION MAKES MARKET COMMENTARY, the pundits' report refer to the news nonsense as reasons for the price drops. For them to report gold doing down re this blowhard mush talk is one thing, but silver???
*The rhetoric…
G7 fires currency warning shot, Japan sanguine
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TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
