Home › Forums › 16 to 1 Mine › Gold Enters Major Bull Market
- AuthorPosts
Gold $1600.30 UP $10.10
Silver $40.07 UP $ 0.75The following comments were made today in the International Forecaster by Bob Chapman:
Today we watch the machinations in Congress, which is trying to muster an agreement on the short-term debt extension. Little is said about the long-term debt problem, or about the continuance of money and credit creation and zero interest rates, both of which are inflationary.
In this process our President has offered up the previously looted Social Security and Medicare programs. Programs the public has paid for to support them in their final years of life. Those who buy Treasury securities are the biggest losers. Even that 10-year note at 2.92% is losing about 8% of the value of its funds annually. Millions of investors are doing just that. The Fed believes that in order to keep the game in motion interest rates must stay at zero, the impact of excessive creation of money and credit, has to continue and the decimation of peoples savings and dollar purchasing power has to be destroyed in that process.
The idea is to let dollar holders take the losses as Congress and the Fed proceed on their merry way destroying our financial structure. Wall Street knows this, but is more than happy to go along with the program and in a slow process investors are switching to gold and silver coins, bullion and shares to offset the loss being foisted upon them.
The next question is one we have entertained many times before. Will government commandeer private pension plans, 401Ks and IRA’s in return for a government guaranteed annuity; will these retirement plans be traded for US Treasuries; or like one bill says, limit the amounts that can be removed and how many times you can remove funds?
The only way we know to protect yourselves is to get out of these vehicles, or borrow against them and invest in gold and silver related assets. Those of you who want to cash out and move out of the country had best do so soon. We believe there is a good chance capital controls could be put in place in the US.
We previously lived under such currency blocking in the 70s in South Africa and Rhodesia, now Zimbabwe. It is like being in a financial prison. Such restrictions would, of course, be wrapped in anti-terrorism terms, so few will suspect what is being done to Americans. The window of opportunity to leave the US is probably only two years away, or perhaps three years.
The mine sold gold today at $1596.60 an ounce (spot price NY). Mike said this is the highest price ever received for bullion.
In the following linked article Martin Armstrong takes issue with some people who believe that by creating a gold standard it would help solve some of our problems:
http://www.martinarmstrong.org/files/Gold%20v%20Money%2007-19-2011.pdf
By Silver Shield,on July 18th,2011
“This is the news that I have been waiting for and is probably the reason why silver has been so strong the past couple of days. The HKME(HONG Kong Metal Exchange) is starting its silver contract this Friday July 22nd! This officially breaks the Anglo American monopoly on silver. This will be the first time that Asians can buy and take future delivery of silver in Asia. No longer can the CME(Chicago Mercantile Exchange) raise margins close to 100% in 8 days. (Then refuses to lower them despite a 30%+ drop in 5 days.) The extended hours should also stop the 10 am smack down since traders can now access the HKME.
The silver shorts should be fearing the hundreds of millions of Asians that will be entering this small market. China alone has Trillions of dollars and they could drop .01% of that money into silver and explode silver beyond the control of the Anglo American Elite. The HKME contracts are also a lot smaller,only 1,000 ounces versus 5,000 ounce contracts.”
Gold $1587.30 OFF $17.80
Silver $38.94 OFF $1.61Concerning a technical perspective on gold, the probabilities are increasing that we may have already made or are going to reach a temporary high point soon enough barring a big negative financial development.
Some years ago the market analyst, Joseph Granville, did a study of short term buying and selling pressures. Granville determined from consecutive daily highs and lows there always seemed to be clusters of strength and weakness pushing prices.
Granville ascribed to these clusters the terms of “up fields” and “down fields.” He found that these rhythm clusters travel a certain extent and then they reverse from exhaustion.
Gold’s daily short term price pushes to the upside usually cluster at around 10 positive days, basically, in its up fields before a reaction sets in. This year in March, gold hit 1440 on 9 positive days as a tail wind, on June 1st a 10 day positive up field took gold to 1575 and yesterday gold hit about 1610 being pushed higher combined with the aid of an 8 day up field performance.
The up and down fields are basically strings of buying and selling sprees. Most of the time, excluding fundamentals, some traders just trade the technical picture while the media hasn’t a clue and tries to explain price movements with their jibberish which is non sense. Traders take a contrary position as up and down fields appear to reach extremes.
So, is an 8 day up field enough on this ride to stop prices or will we have a few more positive days? There can be two down days(today is one) which will keep the up field intact but three will end it with the possible cluster of down days to follow. We’ll just have to wait and see.
Silver continues to be volatile as compared to gold. Gold was off 1% today while the naked silver shorting community(four domestic bank) pounded it lower by 4%.
Silver, what a pretty chart:
Gold $1603.60 UP $9.50
Silver $40.53 UP $1.20http://www.kingworldnews.com is the place to go to get all the information that you require in understanding why gold and silver, eventually, must go higher.
James Dines said just last week at the site, being interviewed by Eric King, that silver is headed to $300 to $500 an ounce. It’s quite an interesting interview, as Jim is a colorful guy.
Bob Chapman : Gold and Silver to go up 150% by the end of the year
David
Thanks for the education along your thoughts, very much appreciated.
Gold $1591.10 UP $4.10
Silver $39.03 UP $0.84Below is a link to the article written by Ambrose Evans-Pritchard entitled “Return Of The Gold Standard As World Order Unravels.”
Mr. Pritchard is the business editor of the Daily Telegraph. For some years he was a Washington correspondent and eventually became a thorn in the side for the Clinton Administation with his reporting. When their nemesis permanently returned to Europe they openly admitted that they were quite pleased.
Gold is zeroing in on the $1600 level. Most expect this level to slow gold down a bit for a while. This could happen but for the next 6 weeks or so, I wouldn’t be surprised to see the metal continue to flex its bullish muscles. Remember, Martin Armstrong expects weakness to begin about the time of Labor Day.
Considering that the silver shorts have been dumping more paper silver into the market over at the Comex, one has to be impressed with silver’s ability to fight back. Pushing through the $38 level was no easy task.
Some July 14, 2011 comments by Jim Willie.
Take a short break from all the hubbub in the United States over the faltering USEconomy, the reckless politicians pretending to come to a USGovt budget agreement (small or large), and the tacit admission by USFed Chairman Bernanke that indeed QE3 is very likely.
The June Jobs Report confirmed my forecast of a moribund economy in deterioration. The Republicans will not budge on their refusal to approve tax increases. The Democrats will not budge on their refusal to approve entitlement cuts. The Pentagon through hidden pressures has managed to keep the sacred war off the table for discussion, even though it stands as the largest factor in the federal deficits.
But the queer item is that President Obama spent most of his time in the last six weeks raising $86 million for his re-election campaign. His taking the high road in the budget discussion reeks of hypocrisy. The absence of leadership in the executive branch is matched by an equal absence in the Congress. The leadership at the US Federal Reserve is clear, but the incompetence and lost credibility has rendered the bumbling professor chairman a mere Wall Street tool whose ample tools dole out capital destruction.
Bernanke must react to the USTreasury Bond market pressures as much as his own long string of steadily wrong forecasts. My forecast was for QE3 to come by summer. The blueprints are on the table. The head fake and diversion drivel spouted by Helicopter Ben were ignored by the Jackass, just like the Green Shoots and Exit Strategy and No QE2 distractions in the last two years.
Quantitative Easing will go viral next, enough to call it Global QE. Gold & Silver will react, gold first with solid gains, then silver with massive gains to follow.
The common theme is the ruin of money.
Watch Italy for an extremely robust toxic powerful addition to the entire dangerous mix. Its nation is very large, whose debts are huge.
Gold $1594.10 UP $7.10
Silver $39.27 UP $1.08Is Europe on the verge of a complete financial meltdown?
The following comments are from Mike’s school buddy from UCSB, Monty Guild. Monty is an
accomplished investment advisor with offices in west Los Angeles.“Although I understand that gold may have short term technical resistance at some higher levels, the fundamental background for gold and the argument for much increased demand for gold from Europe is stronger than it has been in decades.
We believe that a new wave of demand for gold is developing in Europe and will create substantial rises in price. Things look increasingly difficult for the European bond markets and European banks after the recent stress tests of European banks.”
BlueJay,
At our present state of politics, with the enviro-socialists so prolific in our society, I do not think a constitutional convention would be advantageous for protection of our rights and liberties.
Amendments to the constitution, would better serve the purpose of changing the constitution, one change at time.
The one good thing about California that during earlier times when freedom was revered by the people, the democratic process of the public vote was made into law so that we could vote in laws that were not at the disposal of a corrupt representative government.
Not all the states have this public capability, which they should have.
A U.S.Constitutional amendment should specifically require all the states as a constitutional responsibility to establish the democratic direct public vote of creating law, changes to the state constitution, as well as referendums for Constitutional changes to the U.S. constitution.David
Hugo Salinas Price has been calling for Mexico to go on a silver standard for years with your same exchange idea.
As Gerald Celente has said, current events form future trends. Below may be just the beginning of change.
Governors of 35 states have already filed suit against the Federal Government for imposing unlawful burdens upon them. It only takes 38 (of the 50) States to convene a Constitutional Convention.
Mr. Bernake doesn’t know that in
certain areas like Sierra and
Trinity Counties in Calif. Gold
is legal tender, ie accepted as
currency, and there are areas
elsewhere, in the US, I’m sure.Unconstitutional for the states to print money. Is constitutional and required by the constitution that states pay their debts in gold or silver. I would think that states could and should be able to hold gold and silver and issue silver or gold certificates based on physical weight of gold or silver in troy ounces and redeemable as gold or silver species. This is then traded for dollars at the exchange rate determined by the market.
Gold $1581.50 UP $14.20
Silver $38.09 UP $ 1.94Gold trded higher today to nearly $1590 before it tired. Silver pushed above its 50 day average at 36.47 which is positive. The general $38.00 level still appears to present some resistance for the days ahead.
Below are some important thoughts of Peter Degraaf:
Governments have two ways of robbing the people of the fruits of their labor: taxes and the systematic destruction of the purchasing power of their currency.
In 1953, during the last audit of the U.S. gold reserves, the gold was referred to as ‘Gold Bullion Reserves’. Then in 2001 the description was changed to: ‘Custodial Gold Bullion.’ Six months later the description changed to: ‘Deep Storage Gold’. Could this mean that the above ground gold is gone and replaced by gold that is yet to be mined?
Representative Ron Paul gets disrespected by a smug Bernanke saying, “gold isn’t money.”
From Jin Sinclair today:
The New York Sun tonight takes Federal Reserve Chairman Ben Bernanke apart for his doddering performance before the House Financial Services Committee and his dissembling response to U.S. Ron Paul’s question as to whether gold is money. The Sun’s editorial is headlined “Bernanke: Gold Isn’t Money” and you can find it here:
The following link below is to the July 13, 2011 article by Martin Armstrong titled, “The Outlook For Gold.”
In the article Mr. Armstrong points out that the expected drop in the metal will follow a late August into Labor Day.
I’ve attended many lectures and classes in college relating to business and economics with Mr. Armstrong’s current presentation being the most informative of all by a long shot. Mr. Armstrong’s creative imagination plus his inqusitive thought process coupled with his analytical abilities are most impressive and present a rare opportunity to get the real facts as opposed to receiving bogus information from all the wound-up talking heads that we are generally exposed to.
In the article Mr. Armstrong refers to a ECM. The ECM is short for the Economic Confidence Model which he created. The major cycle engulfs 51.6 years and is broken down into six sub waves of 8.6 years each. Within each 8.6 year intermediate wave there are four 2.15 year minor waves. Mr. Armstrong has already stated that the ECM has turned higher again on June 13, 2011 within the major cycle beginning with the termination of the preceding 8.6 year down wave.
The Chinese and the CIA wanted Mr. Armstrong’s software models because they were so successful, he refused. Shortly following, he was incarcerated in the early 2000’s and was just released some months back.
http://www.martinarmstrong.org/files/Outlook%20for%20Gold%2007-13-2011.pdf
Gold $1568.50 UP $14.10
Silver $36.11 UP $ 0.36Gold is getting a great lift in the midst of debt problems.
Gold $1544.20 UP $11.50
Silver $36.71 UP $ 0.27Gold has found support at the $1500 level after briefly tradng below it and has been very strong lately as it closes in on its all-time high around $1560. Silver is well off its high from nearly the $50 level and struggles to advance with gold.
Aside from Jim Sinclair saying gold is on the verge of new highs, Martin Armstrong stresses caution as he expects a shake-down in both metals by about Labor Day.
Adding to the mix below is a kitco.com link to the article, The Silver Platter Opportunity by one of my favorite writers, Mr. Jim Willie. Within the article is an impressive thesis supported by charts from soneone else’s research that points to a big upcoming move in both metals.
Today from King World News, I learned that Jim Dines is looking for an ounce price on silver from $300 to $500.
Although it’s difficult to call the ups and downs correctly, both the metals remain firmly entrenched in their respective bull markets.
Gold $1485.50 DOWN $14.80
Silver $33.81 Down $ 0.91It appears that gold is positioning itself for lower levels. The fact that the $1500 level appears not as supportive as earlier suspected supports this view.
Even in Martin Armstrong’s lastest article http://www.10sigma.com/files/Borrowing%20from%20the%20Rich%2006-30-2011.pdf he is drawing attention to the metal, possibly, being weak into the early part of 2012. Although he still maintains from earlier publications that gold will eventually attain the $5000 level.
Also in his latest article Mr. Armstrong speaks of the safety of capital which will be headed into the private sector and away from government debt obligations for the next 4.3 years. Since the recent strength of gold and silver, a much larger focus may, indeed, be comong for the stock market even though unemployment will continue to rise accompanied by faltering economic news. It’s just a matter of current safety as folks become more and more concerned in the government’s ability to handle their ever-increasing debt load.
As the assets of the private sector become more attractive, with Armstrong’s suspected rising prices, it will present another opportunity to acquire more gold and silver lower down as the public’s mindset shifts away from this area with selling aided by the manipulating hedge funds and the government supporters who hate the stuff.
In early September the Perth Mint in Australia will release their new line of 2012 Lunar Dragon silver and gold proof sets. I’ll be anxiously awaiting to place my orders when they become available on the Net. These coins have proven to be excellent investments over the years for one reason, they are minted in limited quantities and sell out quickly.
From today’s http://www.jsmineset.com:
Jim Sinclair’s Commentary
Taking on more debt is the solution to the Debt Problem? Don’t sell your gold with this type of reasoning running the show.
IMF urges US lawmakers to raise $14.3B debt limit
By CHRISTOPHER S. RUGABER – AP Economics Writer | AP – 3 hrs agoWASHINGTON (AP) — The International Monetary Fund urged U.S. lawmakers Wednesday to raise America’s borrowing limit. It warned that inaction could lead to a spike in interest rates that would harm the U.S. economy and world financial markets.
bluejay comment:
It is quite apparent that we being instructed to take on more debt to save the world’s elite. Ron Paul says it’s time for the country to declare bankruptcy(bite the bullet) inferring that there has to be some pain to right the mess that we have allowed our masters to put us in and this would include cutting the banker’s intravenous feeding lines that have been stealing our children’s future since TARP was invented.
Thanks Martin for your kind words. I, also, appreciate your added insight in the 16-1 Forum pages.
Gold $1511.80 UP $9.70
Silver $34.88 UP $0.94Gold has been in consolidation, recharging its battery, for two months. The past highs from a low of $700 to $1000, to $1200 and to $1400 just needed a few months or so to recoup.
The current resting period from the $1550 plus high should be no different. One of the key ingredients to Jesse Livermore’s continued success was patience.
Bluejay’s comments are well valued
The light sweet crude, I’m told
makes good gasoline. I’m also told
that type is available in Nigeria.
Our “fearless” leader wants our
nation and the world to continually be in “crises” that’s
how his agenda can successfully
develop. That’s the only goal
as he sees it.Gold $1502.70 Off $18.00
Silver $34.63 Off $ 0.68The cut-off of light sweet oil from Libya due to the country’s civil war has prompted the International Energy Agency to coordinate between the U.S and Europe a release of 60 million barrels of oil from their strategic reserves.
This move has weakened world oil prices and in turn, caused selling in gold and silver. The oil release will, for the short term, cause products made from crude to be s bit cheaper which will only be a temporary crutch for a sputtering economic recovery.
These are a few thought from Jim Sinclair today:
“If you think that the banking system of the western world is strong enough to guarantee the debt of the western world, you’re totally out of your mind. That’s the reason they’ll do everything possible to paper over the Euro crisis to prevent the defaults in order to prevent another crisis in banking that definitively would occur, that absolutely would occur from a default. This fact is ravingly positive for gold. You would have a complete collapse of the western banking system if Greece goes down.”
Gold $1522.50 UP $7.20
Silver $35.45 UP $0.69The metals continue to be under pressure since silver was stopped dead in its tracks nearing $50 with excessive increases in margin requirements ordered by the CME. Although silver was getting frothy, doubling in price in two months, the CME made sure that the plug got pulled just to protect its members that were heavily short from going belly-up.
The quick drop on the metal scared participants along with the effect spilling over into the gold market. The NY boys who play silver are obviously looking for lower prices. The key here for silver and gold to get moving again is gold’s ability to hold the $1500 level.
The gold producers are now selling for 10 times their cash, the norm is 20 times cash.
Gold and silver are now in consolidation patterns. It would be expected for them both to continue basing with a lower bias until such time that their batteries become fully charged again and the resumption of their bull trends is followed by all-time highs.
Today from James Turk:
Thus, there is only one logical conclusion. Much of the debt overhanging the globe will never be repaid. Because a large portion of this debt is the principal asset backing national currencies today, these currencies have been debased.
It is debasement just like that by corrupt and autocratic kings and emperors of yore that we read about in monetary history, who cheated the citizenry by mixing lead or other base metals into coins to replace their gold and silver content. But today the debasement of fiat currency arises from the unrepayable loans of over-leveraged sovereigns run by corrupt and autocratic bureaucrats and politicians and of course their hand-maiden, central bankers, which succinctly highlights a theme I have made repeatedly.
Central banks are a barbarous relic.
Gold $1543.30 UP $9.00
Silver $37.71 OFF $0.76The following is from the Bob Chapman International Forecaster today:
Three years ago we saw what was going to happen to municipal bonds and we recommended their sale. Since then they have taken massive losses. Many municipalities will go bankrupt and many workers will be fired. Most will never be able to get a job again. We believe the states and municipalities will not receive further funding from the federal government and they jointly will fall deeper into debt.
As these entities and private ones as well go broke pensions will fall into default. This is part of the decimation of the under structure of society, so that almost everyone has nothing. The elitists in NYC and Washington want all the power in order to totally enslave mankind, but particularly the populations of the US, UK and Europe. At the same time, as they have over the past 3-1/2 years, they will hold the market up to continue the façade of prosperity.
The market will be ready to fall when they want it to, in order to drive funds into the bond market to keep it solvent, because it is far more important than the stock market. We do not know when this will happen, but it will. Can you imagine what will happen to pension funds and insurance companies with the Dow at 6550 or lower?
That is why we believe investors should be out of the stock market except for gold and silver shares. They should also be out of cash value life policies and annuities and certificates of deposit, and only own gold and silver coins, bullion and shares.
An outstanding video with Mike Maloney spelling out what’s in store for fiat currencies:
Gold $1503.80 UP 2.10
Silver $34.30 Down $0.767Both metals were shelled, again, but have come back from early morning lows: gold traded down to $1479 with silver hitting about $32.15.
Buying into silver weakness works for me. Another 20 one-ouncers bought earlier in the day with the metal trading in the 32 to 33 range. With scale down buying, you keep buying lower and lower until prices start up again in this continuing bull market.
Here’s a great summary by Ted Butler of what’s happening in the silver market:
http://www.investmentrarities.com/ted_butler_comentary05-09-11.shtml
From Wednesday’s International Forecaster:
We wonder who again told the CFTC and the SEC to look the other way? Who instigated the attack on silver and gold and on the shares? Is there no justice left in America? Are we to continually be robbed by these crooks without any hope of lawful recourse? It looks like that is going to be our fate. That is unless in 2 or 3 sentences you demand that every representative and senator stop this thievery. E-mail the CFTC, SEC, NYSE, ASE and Nasdaq and let them know you know what is going on and you want it stopped, now. If you are not successful you will continue to be robbed by these crooks. Even if you are unsuccessful these criminals will know you know exactly what they are doing.
Gold $1495.70 UP $22.60
Silver $36.25 UP $ 1.59Bob Chapman reports that sources are telling him that Treasury employees are contacting commodity trading firms with suggestions that they instruct their accounts holding silver contracts to sell them. What is this? You know what it is: more government control of markets. This may work over the short term but these types of price containment efforts ALWAYS end in failure over the long term, always.
Hugo Salinas Prices’ firm, Electra, upped the silver coin buying premium yesterday to $5 over spot, it had been much lower over previous weeks. Senor Price knows that the instigated paper charade with silver over the past days won’t hold and he is not selling his inventory at these rediculously low prices. This all means that there is support increasing for a widening price differential between the paper COMEX market and the real physical market.
Numismatically speaking, the Mexican one ounce Libertads should continue to increase in premium. The silver US one ounce Eagles that I anticipate the Mint to coin in the number of 60 million overshadows the Libertad production which is significantly less. The 2006 and 2007 Libertads mintages were well below 400,000 for each year.
Included below is a link to a silver chart depicting the beating and whipping that was handed out by the powers to be.
Fraud at the Fed
Here’s the new increased silver margin requirements press release:
http://www.kitco.com/reports/KitcoNews20110504AS_silvermargins.html
Gold $1516.50 DOWN $20.60
Silver $38.93 DOWN $ 2.73The suspected meeting that took place over last weekend in an attempt to beat down the gold and silver prices has temporarily succeeded.
The COMEX continues to increase the margin requirements for their 5000 ounce contracts with an another increase after the close today to be followed by another for the following Monday. It’s quite apparent that the Exchange is saving itself from implosion as the amount of blood letting from the two prominent shorts was very near to their expiring with silver approaching $50 an ounce last Friday.
The Exchange is basically saying that they are attemting to save the smart buyers or the public from themselves. Hogwash! They are saving the banks from their arrogant stupidity!
It is amazing how these disdainful people consider only their own skins and those of their connected comrades.
What the course of these events will establish is a widening price market for the COMEX paper silver market with the physical market. I purchased a couple of rolls of the silver one ounce Canadian Maple Leafs at the spot price of $39.50 plus the $3.50 premium and tomorrow I’ll be in Cabo buying the Libertad one ounce silver coins again.
Keep it coming boys, I’m buying for my future and in the proces trading in fiat bills. As Jim Sinclair has stated, become your own central banker.
Here’s an hourly chart on silver for about the past two days.
It just shows what these arrogant trickers are capable of on a daily basis.
Did you know when gold exploded in price in 1979 there were, overall, more down days that up days? Think about it.
I’m heading down to Baja Thursday from Pescadero to buy some more silver Libertads from Hugo Salinas Price’s Electra store.
In current after hours trading:
Gold $1534.50 DOWN $11.10
Silver $41.00 DOWN $3.38There is no question to my mind that this continuing weakness is an extremely organized effort to break people’s confidence in these metals. Also adding insult to injury, the hedge funds are flooding the marketplace with sell orders of gold and silver related companies in an attempt to flush them down the drain with their increased naked shorting. It’s fairly obvious that regulators and their bosses like this attempt to hose the American public and others, separating them from a portion of their wealth while both remain lost for intelligent ideas to fix the mess they have created for all of us.
This paper party selling event started as the Comex was on the verge of financial implosion as the result of the billions and billions of dollar losses by two members, J.P. Morgan and HSBC, who were very near to default on their millions and millions of short silver ounces that they could not deliver.
Their overall plan began in the past few weeks when the hedge funds started leaning on the precious metal shares. Their game, which has been profitable for them so far, has been buying gold bullion and selling the related stocks.
The ratio to these two is currently 7.31 which is the XAU Index divided in gold’s price. Some few years back the normal trading range for this ratio was 3.0 to 6.0. In other words, the 6.0 level was a buy level and the 3.0 level was a sell area. In mid-summer to October of 2008 all this changed.
This was the period when three major US banks massively poured large amounts of naked short contracts into the gold and silver commodity markets collapsing prices and scaring everyone that had an interest into a state of shock. During this period gold and silver related stocks were also naked sold short in massive amounts tanking them and pushing the ratio into an all-time high area of just over 11.00 which, again, which was arrived at by dividing the XAU Index into gold which equaled a little over 11.00.
Recent resistence on the ratio chart has been in the 7.50 area. It remains to be seen how serious the dark side is interested in or capable of further damage in pushing both the metals and shares farther down but one thing is for sure, the successful and well known gold analyst, Mr. Jim Sinclair, has recently stated that the hedge funds are on the verge of being roasted alive with their massive amounts of precious metal related stock naked short positions.
Bob Chapman has said, you buy and you hold both the metals and the shares and disregard these swings. He further states, gold and silver and the shares are the best home for your funds today.
These quick downturns are normal events during bull markets. Envision looking past current events to a time when the bull markets in both resume with the establishing of all-time highs again.
Past and current actions by the Fed makes investing and standing tall during this period with your positions a no-brainer.
Check out the Gold/XAU ratio chart:
Gold $1561.60 DOWN $4.10
Silver $46.51 DOWN $1.43It strongly appears the miscreant council met over the week-end and set-up a market plan to tame the recent strength of the precious metals, especially silver.
Actually, it’s their long string of failed campaigns that is most comical of all.How desperate these men, or wowen, are. They are like arrogant high school students hacking into the school computer in hopes of changing their grades just because they don’t like them, forget about what they were really entitled to in the first place.
Martin Armstrong has stated that the real reason gold moves up and down during periods of time is based on how comfortable and uncomfortable the people relate to their leadership. When funds are drawn out of government securities and placed into gold, the new gold buyers usually get punished by the Plunge Protection Team.
The miscreants during late Sunday got into the thinly traded Globex market and smashed every silver bid in town, all the way down to about $42.20, the gold price was also impacted. Silver was down about $5 an ounce in minutes, gold was off as much as $35 from its earlier opening highs of $1577.
All this is done to freighten you out of your gold and silver and to dissuade you from ever thinking of getting into these metals when in fact, you need to be in them.
Forget about these engineered price swings, your family’s future will be in holding ounces of gold and silver. Your real wealth is how many ounces of each your assets can be turned into.
Martin
Stephen Leeb would agree with you: he said some months back that he expected copper to increase in price tenfold.
- AuthorPosts
- You must be logged in to reply to this topic.