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Gold And Silver – Purely A Mental Game Right Now. Do Not Blink
Dennis Miller
http://www.silverbearcafe.com/privat...ages/blink.jpg
“Water, water everywhere, nor any drop to drink.”
There is a similar situation with regard to fiat paper everywhere, but not a gold delivery to be made. The delirium cast by central bankers issuing unlimited fiat has kept so many people in a fiat-induced fog, unable to see clearly. The fog has lifted. It is all a game.
See the fraudulent scheme for what it is and then fear no more. It is just a matter of time before everything unravels, as it surely is.
The price of gold and silver are closer to a bottom than a top. The QE-Infinity is closer to a top and will collapse under its own “goldless” weight. The PM holders are on the correct side of history. Understand that it has been one of the bigger world scams played by the central bankers, the illuminati who believed themselves untouchable, beyond the scope of comprehension by the non-banking world.
Stop buying into the scheme of the moneychangers. Their time has come, and it is but a matter of time. They are playing with everyone’s mind, doing everything possible to destroy the gold/silver markets, committing self-destruction in the process. They are making every attempt to discredit the barbaric metal that cannot be eaten, that pays no dividends, but somehow survives as the most reliable measure of accepted value.
The moneychangers are dragging the faux decline for as long as they can, hoping to wear down the resolve of PM holders. Ask yourself, are you selling your holdings of either gold or silver has price has declined? Will you sell out if gold goes to $1100, silver to $18? If not, then what difference does the current price of gold of silver make? If you are not going to sell, then let the central bankers crush the price as much as they can!
The paper holders are trapped and desperate to extricate themselves, at greater and greater losses. This is the best gift PM buyers and holders could want. Stackers keep stacking. Back up the truck and keep on loading. This is no longer a game of finesse. It is all about the paper rats and central bankers, [not sure if there is a distinction to be made], caught golden[less] handed, cheating everyone possible who believed in the system. The system is breaking down, collapsing under it own misdoings.
Never lose sight of common sense. Price typically drops due to a lack of demand, an oversupply, or a combination of both. Do you believe there is a lack of demand? [The acknowledged world-wide demand being at its highest.] There surely is no oversupply, yet price is at its lowest in almost three years. Logic tells you how the current forces of supply and demand are dysfunctional. They have been replaced by the false supply forces of central bankers. The longer central planners destabilize the natural forces of the market, the greater the ultimate reaction will be in the opposite direction.
Paper gold has no value, at least to those who own it. Well, maybe they believe it has value, but when the time comes to cash in the chits, the holders of paper gold and silver will have their belief system turned upside down. Everyone knows the paper market dwarfs to physical market, and until the paper market shrinks to a level more on par with the physical, the unwinding of huge paper longs will continue.
In the process, those who value the value of owning and holding physical gold and silver will be justly rewarded. The fiat gold, [like all paper] has to vaporize before the rewards for keeping the faith in the physical will come to pass, and at the much higher prices most have been anticipating. The supply/demand relationship will remain dysfunctional for as long as it takes, and until the paper market collapses. With its collapse will come the proverbial golden phoenix rising from the distorted ashes left behind.
Ques of 10,000 Chinese waiting to buy gold; unabated purchases by China, Russia, India, et al, of whatever is available; mining shortages, cost of production over current prices, and whatever other story or fact one can produce does not matter. The course is set, and nothing will change it. Events will just have to play themselves out, regardless of anyone’s expectations, hopes, or fears. It may take a month, many months, a year, or maybe even longer. No one knows, as has been so apparent for the past few years.
The illuminati are powerful and control all the money in the West, and every dirty trick will be played, count on it. China, Russia, India, Turkey, the Middle East, et al, are no longer buying what the West has been selling…fiat deceit and lies. Exit stage left, West, however long it takes.
The “reality” of the faux paper market is presented next. All the charts say there is no ending action, yet. Time and price are now the enemy of paper, and a gift for the buyers of physical. Stick with your plan. Your time is coming. Almost all want it to be tomorrow, but that will not be. Just remain firm in the belief that it will be. Gold is truth, truth gold, and that is all ye need to know.
[Apologies to Coleridge and Keats.]
Here is what the charts of paper gold and silver are telling us. Charts do not lie, even though they may only be a chart of [paper] lies.
We look for synergy between time frames, but it appears to be changing, as you will see. Wide range bars tend to keep subsequent bars within the high and low of the wide range bar, shown at the top. The second wide range bar, from April 3rd from the right, was also a wide range bar with a close in the middle. The fact that price left that wide range bar so quickly is surprising, and we surmise it reflects the “managing” of price by central banks, unnaturally forcing price lower as fast as possible. We could be wrong, as any guess can be.
http://edgetraderplus.com/wp-content...-28-Jun-13.gif
We are of the mind that the charts no longer matter, for they reflect an artificial paper supply side with no accounting for the reality of demand for the physical. What we are looking for now are signs of change, and more focus is placed on current developing market activity. As an aside, we threw in an example of how a clustering of closes is the market’s way of sending a message of balance that will lead to imbalance.
The last bar is very interesting. We see it as a subtle sign of possible change. It is explained on the chart, but we need to see more weekly development to confirm or negate our market sense.
http://edgetraderplus.com/wp-content...-28-Jun-13.gif
We talked about how a wide range bar contains immediate future activity for some time. Here is one on the daily showing this market behavior, and it is presented in contrast to the monthly April bar, viewed as an anomaly. If, in fact, it were from price being forced lower sooner than normal market activity would have taken, we see it as a positive that the central bankers are becoming more visibly desperate.
The comment on the breaking of support on strong volume is made as a future reference for a potential short. We want to point out that the market is the best source of information. Here is one piece of information that is known today that can possibly affect the outcome of a rally into that area at some future point. The point being, there is no need for any guesswork when deciding to buy/sell, if you have the patience to wait for these edge opportunities.
Where the monthly chart showed no sign of ending action, the daily chart is starting to show possible signs of change, change that can take months, [or longer], to turn this market around. The market provides information like pieces to a puzzle, available for everyone to see, if they look.
http://edgetraderplus.com/wp-content...-28-jun-13.gif
We go right to the weekly silver chart next because it is showing clearer signs of potential change. That one single bar, the final bar coming at the very end of the month, 2nd Qtr, end of the first half of the year, is a story in itself. It raises three Red Flags, or warning signs, as explained. Another puzzle piece.
http://edgetraderplus.com/wp-content...-28-Jun-13.gif
We see definite synergy in the silver time frames, and we took note how well silver not only held but rallied, as gold was pushed lower for a part of the early trading day. It has been relatively weaker than gold, but not on Friday.
This is all taking much longer than many expected. One need not be religious to keep the faith, for the reality of owning the physical will not disappoint. The ultimate facts are on the side of PM holders.
Hold steady, hold fast, keep on adding, and do not blink!
http://edgetraderplus.com/wp-content...-28-Jun-13.gif
www.profitconfidential.com
http://www.silverbearcafe.com/private/07.13/blink.html
see if what this guy says turns out, so far his bounce up to 1258 to 1262 has happened
I found this guy when looking up Gann
you can get emails of his updates and he sells soft ware for traders but for long term holders his free emails are good
http://www.gunner24.com/home/
http://www.gunner24.com/newsletter-a...2013/30062013/
shttp://www.gunner24.com/typo3temp/pics/98822bed5e.jpg
technical analysis is generally meant to model a free market where supply & demand are a majority part of the forces affecting price.Quote:
Originally Posted by Serpo
especially since April 12, 2013, the US gov., through its proxies JPM & HSBC, has manipulated Silver & Gold so thoroughly that about all we can do is to thank them for the buying opportunity. but, it's hard to feel grateful to a sociopath like the US gov.
but to predict the behavior of such a manipulated market ?
it requires inside information or luck - or, knowledge of the US calendar. sure, July 5 to whatever might be when they raid. from experience, we know they can't let up, because prices will rise. so the day after the July 4 holiday is a logical time to commence major raids.
I agree but we are talking W.D Gann here
had to look him up -Quote:
Originally Posted by Serpo
"William Delbert Gann (June 6, 1878 – June 18, 1955) or WD Gann, was a finance trader who developed the technical analysis tools known as Gann angles, Square of 9, Hexagon, Circle of 360 (these are Master charts). Gann market forecasting methods are based on geometry, astronomy and astrology, and ancient mathematics.[1][2] Opinions are sharply divided on the value and relevance of his work.[3] Gann wrote a number of books on trading."
so his professional life would have been from about 1900 to about 1943, which is when he would have been 65. though if he was like Jim Sinclair, he may have done a lot of important work after the age of 65.
i would say that the markets Gann observed were in the time-frame 'before manipulation', but i don't think that's accurate. Rothschild manipulated the English markets massively as far back as 1814.
i think sometimes markets are 'rational' enough so that they can be accurately modelled using mathematical models (using the term mathematical to encompass Gann's work, "based on geometry, astronomy and astrology, and ancient mathematics".)
but when markets are highly manipulated, as PM markets have been from April 12, 2013 to present. it's like having a manic-depressive girlfriend.
( i had a friend like that once. i got so used to her cancelling dates, that i thought if she showed up for 50% or more of our planned outings, we were "doing good".)
i think the PM markets are a combination of "raid behavior" (that produces the double-waterfall price charts and the 11%-over-2-days price drops), and "in-between raid" behavior.
of course, sometimes, in between the big raids, they have little raids. or no raids.
i am personally doubtful that conventional (Gann-ian) technical analysis can shed light on market behavior when the market is highly manipulated.
Gann was into price and time relationship and when time runs out ,thats it.
I respect Gann above all others and even have some books by him.
I know what you are saying GD ,it will be interesting to see what happens in the next time period july5 to july 14 , regardless .
Seems very unlikely we'll see a low happening in the next couple of days. IMO if it hadn't been for blatant manipulation, we wouldn't have seen any lows whatsoever, the last few months. But PM's are interesting in that aspect, the more expensive they become, the more desirable for buyers. So one can crush the demand by making them crash in price, and thus sustain the value of Fiat. It's only the very few you don't fool this way...Quote:
Originally Posted by Serpo
it's going down more because i just bought some 3 ounce bars from monarch.
You should have bought ATB'sQuote:
Originally Posted by chad
too classy for me. i am more of an old milwaukee type guy.Quote:
Originally Posted by ximmy
i think the Cartel is on vacation. they went a little further than the Hampton's or Long Island.
I received a coupon for $50 progressive transition lenses the other weekend at the market.Quote:
Originally Posted by Horn
Went to the eyeglass store where the optomitrist told me "Those lenses are Chinese crap as compared to what you have!",
that are triple the price.
still checking this guy out ,yes we all know its manipulated ,however if what this guy says plays out it would be good indicators if wishing to sell at sometime
as he puts out free info but charges for traders it is perfect for lo0ng term holders
Silver and gold partially with uncommonly strong buy signals
Please pardon my sarcasm. But gold really delivered an unusually powerful buy signal. I’ve avoided the effort of browsing exactly the last “that important buy signal”. My sensed memory tells me it was months ago. Here again it’s supposed to be a matter of a fake as well as all the “few” short- and medium-term buy signals in 2013 were. The shorts are just untightening the rein a little bit, I think.
If it is really more than a countertrend move since the last important lows, technically silver should have to out-perform gold very clearly, especially now at the beginning of a sustainable possible change in trend! But it doesn’t. It’s bobbing up and down. No impulse move, no energy is to be seen. It’s tinkering again with a formation of continuing the trend. It seems to be an upwards sloping channel. These are unequivocal evidences that another test of the lows is very likely to happen, most probably followed by some new lower lows:
http://www.gunner24.com/typo3temp/pics/bdcf1d6933.jpg
Last Thursday a first little buy signal succeeded on daily base. The Blue Arc Resistance was overcome on closing base. The first target of this countertrend is activated thus. It’s the first double arc at 20.56. A daily close above the first double arc activates the 2nd double arc at 21.20 as the main target of this swing. On Friday the Blue Arc tested back, and the red candle just narrowly above the Blue Arc is another indication how groggy and shaken silver is. Normally the final break of the Blue Arc should have had to lead to subsequent buys…
From the GUNNER24 Forecast point of view there are some other signs of weakness. On the one hand there’s the several time test of the 1*1. Certainly it’s positive that this one resists, but we can’t talk about really strong energy development. Then there was the first initial impulse. It lasted but two days. The really persistent new moves are expected to show initial impulses of let’s say 5-8 days of duration.
If the countertrend wants to last 13 days, at the first double arc and 20.56 it will finish before silver dives again. But the performance of gold (see the next chart…) also permits a 21 day lasting countertrend and reaching the 2nd double arc and the determining resistance line at 21.20. That’s where at the latest the shorties are expected to tighten the hangman knot tensely again.
Gold got through with the best week in all 2013. Yeah…, hard to believe: this fiddling around was the highest weekly gain in the whole year 2013!
http://www.gunner24.com/typo3temp/pics/578d9f5e26.jpg
In the weekly 13 candle up the week traded on the important time line I analyzed most extensively in the last issue. In the important time lines the resistances as well as the supports are pretty easy to overcome. Frequently they don’t play any part. For gold the weekly opening above the lower line of the 4th combined with the important time line constellation finally meant a lush weekly gain.
The weekly close above the 1274 horizontal resistance – now support – facilitates now a test of the 1344-1347 resistance Gann Angle. This one is moving for the next two weeks between 1344 and 1347. The strongest Gann Magnet, in this case the strongest resistance, will be at 1347 the week after next. There the resistance Gann Angle will meet the upper line of the 4th at 1347. What’s in store for gold then, well, some glances into the past are sufficient. A hefty decline is to be expected there! W.D. Gann: „When price meets time a change is imminent“.
This decline is likely to last till the middle of August. We can expect that at least one of the still pending sell-off targets – 1172/1140/1122 – will have to be worked off during this coming sell-off wave.
It will take a weekly close above the upper line of the 4th to deny such an outcome!
We cannot only make out the strongest weekly resistance at 1347 but also an important resistance in the daily time frame – the lower line of the 2nd double arc at 1345:
http://www.gunner24.com/typo3temp/pics/da78d1cb0c.jpg
Gold is showing a 3 day initial impulse from the lows. Thus gold is stronger than silver. On Thursday gold achieved a double buy candle on daily base. Within one day the Blue Arc as well as the upper line of the first square was broken upwards finally. On Friday gold tested back only the upper line of the first square. Thus, altogether gold is stronger than silver, therefore gold and silver are very likely to be in a countertrend bounce now.
First target for this countertrend hence is the first double arc in the daily time frame – 1302. Actually gold is in the 10th day of the countertrend, thus the first double arc is supposed to be reached at the 13th day of the countertrend at the latest = Wednesday. In the strong downtrends the counter moves only extend up to the first double arc before the main trend is resumed again.
But, since the weekly time frame permits the 1344-1347 until the week after next being effective as a resistance there in the daily setup also the 2nd double arc and if the actual countertrend performs in price EXACTLY the way the last important countertrend (purple arrows) did, I think that gold isn’t likely to achieve its countertrend high at 1344-1347 before it’s near to the 21st day of the countertrend.
http://www.gunner24.com/newsletter-a...2013/14072013/
Precious Metals firing buy signals
The big 4 in the precious-metals universe to wit gold, palladium, platinum and silver generate new and partially spectacular buy signals on Thursday and Friday. The liberation strikes in both currently strongest metals in the precious-metal complex – silver and platinum – are not only supporting the one of the complex that is sensed to be the weakest once more – gold, but pointing now to a longer lasting precious-metal rally/bounce till the beginning of September.
All the four mentioned metals are now most likely to be in a confirmed uptrend on daily base, for some higher daily lows have formed during the last bottoming process. Here are the potential uptargets till the beginning of September: Silver = 22.50$; Platinum = 1550$; Gold = 1387$. For palladium the maximum uptarget is 800$.
Let’s consider now in the daily time frame the 4 precious metals with their respective actual buy signals, their uptargets in price and time as well as their inner strength or weakness compared with one another.
Here’s a view to both highflyers of last week. They produced the clearest buy signals.
Silver – 2 candle up setup:
http://www.gunner24.com/typo3temp/pics/efd2d2fa3a.jpg
Finally: On daily base silver is indicating us the first confirmed uptrend of the entire year 2013! Higher lows are the only features for a confirmed uptrend. Last Sunday I was still supposing that silver would have to fall down to the 1*2 Support Angle to develop perhaps enough up-energy in order to be able to start a liberation strike. The visible rebound from the 1*2 Support Angle on Wednesday (green circle) cemented the higher low on daily base. The rebound energy from the 1*2 is extremely strong. Thursday showed the first “double buy candle”. The purple daily trendline and the resistance of the first double arc were closely overcome in one go. On Friday the next powerful buy signal being the next double buy candle followed. In one go the metal came off the first double arc resistance, in addition re-conquering the 1*1 Gann Angle.
Moreover silver achieved a new swing high = uptrend confirmation!
By the final break of the first double arc, now the 2nd double arc is activated as the next uptarget. 21.20 to 21.05 is what silver is expected to be able to attain next week. The next several-day consolidation will have to start at the 2nd double arc. A daily close above the 2nd double will activate the main target of this uptrend in that case = 22.05$. Time target for the 22.50 is the first September trading week.
The perfect (because pretty riskless) entry into the current uptrend should be produced by a possible test of the 20.10 horizontal support next week.
Platinum – 3 candle up setup:
http://www.gunner24.com/typo3temp/pics/5d89671686.jpg
During the last two weeks platinum re-tested intensely the first double arc and the support Gann Angle anchored in the chart above. The fourth test of this Support Angle (green circles) on Thursday was finally responsible for the strong rally then. The rebound energy from the Support Angle is monstrous. It’s rarely to be observed. On one single day succeeded the upwards dissolution of the existing consolidation at the highs, to break the resistance of the daily trendline (purple) and to overcome the resistance area of the whole 2nd double arc – an extremely infrequent occurrence! On Friday the next confirmation of the continuation of the uptrend followed...
... the 2nd was finally broken upwards, thus the next double arc in trend direction is activated as the target: 1550$. This price target is supposed to be reached by the end of August.
An entry into the current uptrend will be granted by A) a daily close above the next important horizontal resistance at 1505 or B) a thoroughly possible extended test of the 2nd double arc and the 2*1 Support Angle: 1484-1475.
The performance of silver and platinum are usually harbingers of what is still to come for gold. Concerning the unambiguous buy signals gold is lagging behind just having been able to establish a higher daily low during the last days. The big crack as in silver and platinum is still due. But it is likely to occur within the coming 5 days by virtue of the forerunner function of silver and platinum, if everything goes expectedly…
Gold – 3 candle up setup:
http://www.gunner24.com/typo3temp/pics/b1e5f811f4.jpg
The most important realization of the last days is – as mentioned – the cementation of the higher daily low. In my opinion it’s very positive that gold is now rising up as both analyzed metals were doing. The 1272 is a strong combined daily, weekly and monthly supports! On Wednesday the third test of this important support on daily base took place – green circles. It was successful, inter alia because on Friday succeeded for the first time closing within the lines of the 2nd double arc. This successful test of the 1272 has got particular impacts in the monthly time frame, hence in the medium to the long term.
The consequences are far-reaching. On the one hand, technically August as well as September is not likely to go beneath the 1272!!! But if it does, prices below 1272 during the next 4-6 weeks would be a new, lasting sell signal after which subsequently the actual correction low at 1182.60 will be headed for.
Well, next week at first the daily down trendline (purple) is supposed to break upwards. A daily close above 1322 will confirm that finally. But gold is not going to fly before the first clear close above the upper line of the 2nd double arc. A daily close above 1330 during the next 5 trading days will generate this next important buy signal. Not before that the 1387 = combined daily and weekly resistance will be finally confirmed. A daily close above 1330 during the next 5 days would activate the 1387 at the 3rd double arc resistance till the end of August 2013.
If no close above 1330 succeeds during the next 5 trading days, well, in that case we’ll have to reckon with a new test of the 1272 till the end of August.
To round off the big picture let’s have a look at palladium, the strongest precious metal in 2013. It’s the only one of the 4 precious metals that comprises a tight plus for 2013: +5%. The world-wide surplus in demand prevented palladium this year from being beaten down the way silver and gold were. Target for 2013 is and keeps being the 800$, as analyzed already most extensively in the free GUNNER24 Forecasts of May 12, 2013:
http://www.gunner24.com/typo3temp/pics/4528954f39.jpg
In the monthly chart above you see the 13 year existing monthly resistance, presented in May 2013. It’s likely to be reached this year yet, passing at 800$.
Now we’re newly given a confirmation for reaching the target by the actual daily up setup:
http://www.gunner24.com/typo3temp/pics/323a4b4d03.jpg
From the June lows a 3 or 5 candle up setup is measurable in the daily time frame. Compared with the other 3 metals this initial impulse is much stronger. Its range comprises about 60$ going from 629$ at the 06/27/2013 low up to the 689$ high of 07/03/2013 – a plus of a 9%. Here again palladium is leading the precious metals. Likewise the following ascent up to the 2nd double arc is proceeding much steeper and thus faster than in case of the other precious metals.
PA # re-tested extensively the 1st double arc after reaching the 2nd double arc bouncing between the 2nd and the 1st double arc to and fro. It’s a strong consolidation formation pointing to rising prices. If this consolidation area is left upwards, it’s likely to be with a strong, steep, fast move. Maybe as early as on Monday PA # will achieve the liberation strike by a mighty buy candle in the style of platinum!
If palladium manages to overcome the short-term orange dotted daily down trendline, it will be likely to go quickly up to the next higher purple dotted daily down trendline = 760$. A daily close above 766 - an important horizontal GUNNER24 Resistance starting from the upper line of the 2nd – would activate the 800$ target in the daily and monthly time frames!
Today KWN is putting out a special piece which has some absolutely outstanding silver charts that were sent to us by David P. out of Europe. These are charts that the big bullion banks follow closely in the gold and silver markets, as well as big money and savvy professionals. David lays out the roadmap for a stunning advance in the price of silver, and also reveals some fascinating points about this bull market in silver.Since the high in 2011, silver has gone through a major correction. Silver is roughly 60% off the 2011 high. This may sound extreme but for silver this decline is just a normal move in its bull market. The first big decline was from $8.40 to $5.40 back in 2004 -- that represented a 35% plunge. The next major pullback took place in 2008, when silver collapsed from $21 to $8.40 -- this, like the recent decline, represented a 60% plunge in price....
http://kingworldnews.com/kingworldne...A10%3A2014.jpg
Again, this type of move would not be extreme because it reveals how violent advances and declines in the silver market have been up to now. If you also consider that silver is now at the most oversold level in history (see bottom indicator in the chart below), the rally from these depressed levels should be stunning. Another interesting formation to watch is the possible flag pattern (highlighted below):
http://kingworldnews.com/kingworldne...A10%3A2014.jpg
Silver will be advancing from a very solid base, and a breakout to the upside from this pattern would easily target $90. I would just add that in a King World News article from January 5, 2012, James Turk also discussed the flag pattern in silver. He said this would be a good launching platform for silver, and also gave his long-term price target of $400 for silver in that KWN piece.
http://kingworldnews.com/kingworldne...or_A_Staggerin g_$70_Surge.html
If one follow the trend line of the previous rally peaks, I would guesstimate a peak this time of somewhere between $120-150/oz for silver...
Lopsided Short Positions in Silver Futures Markets Put Near-Term Damper on Rallies
So why has silver been frustratingly unable to sustain breakout rallies in recent weeks? Look no further than who has the ammunition to kill rallies in the futures market.
The Commercial net short position in silver now stands at 144.5 million ounces. According to analysis by Ted Butler, JPMorgan holds an astounding 76% of the total Commercial net short position (110 million troy ounces).
Silver is unique among all commodities in that just four institutional traders together hold short positions that are the equivalent of 110 days of world production (and the top eight traders are short nearly 160 days of silver production). In the long-term, this is a bullish setup since short positions are eventually covered (bought back). But in the near-term, the big players can sell more paper contracts into the market in order to quell rallies.
https://www.independentlivingbullion...-shorts-000529
A Final Summer Low Still Ahead as Gold’s Sabbatical Rest Comes to an End & Gold Heads to $10,000+!
July 15, 2014 By
http://www.silverdoctors.com/wp-cont...om-300x224.pngGold was expected to ‘begin a rise in May, continue into June, and make a TOP in June before reversing into a Final Summer Low’.
A final summer low is still ahead for Gold.
Since the bull began in 1999, every 7th year Gold takes a Sabbatical Rest. T
he first was in 2006 when gold traded to $650. Gold has completed its second cycle of sabbatical rest as of June 2014.
The coming summer low will be the FINAL ENTRY LOW and the ‘Buy-of-a- Lifetime’ before a Moon Shot to $2000 by year end!
Starting this summer Gold will begin its final 7 year cycle (2 x 3.5 years) climb to over $2000 in 2014 and $10,000+ into the year 2021!
http://us-ads.openx.net/w/1.0/ri?ts=...13b0xlSGRFb0hH
Submitted by Bo Polny:
Dear Gold Friends,
Gold was expected to ‘begin a rise in May, continue into June, and make a TOP in June before reversing into a Final Summer Low’.
At the time of the Interview, Gold rather that immediately rising in price in May, first dropped into a June 4, 2014 low and secondary Turn Date to then began it rise into June. In other words, the Gold cycle inverted downwards for 2 weeks before the expected June rise began. Nonetheless, the June rise came. The 2 week May cycle inversion pushed the expected June top forward in time 2 weeks into mid July 2014. A final summer low is still ahead for Gold.
Starting this summer Gold will begin its final 7 year cycle (2 x 3.5 years) climb to over $2000 in 2014 and $10,000+ into the year 2021!
Since 1999 every 7th year Gold takes a Sabbatical Resthttp://www.silverdoctors.com/wp-cont...d-1024x918.jpg
The current Gold Bull began in June 1999, seven year later in early June 2006 Gold traded at $650 and exactly one year later in early June 2007 Gold was trading once again at $650; then 7 years later from June 2006 in mid June 2013 Gold traded at $1275 and then exactly one year later mid June 2014 Gold was trading once again at $1275. Gold has completed its second cycle of sabbatical rest as of June 2014. Now that Gold has made a June/July top, next expect a Drop into a Summer Final Low and ‘Buy-of-a-Lifetime’ opportunity! This summer’s Low will be a higher degree Low relative to all 2013 Lows. The expected summer Low Price target and Cycle Low Date is exclusive to subscribers. As hard as it might be to believe cycles do precede events and after the coming final summer corrective low, Gold gets back to business as its Sabbatical Rest has officially ended!
What does the COT Report Say about a Possible Summer Low?Even though Gold is up today the Commitment of Traders report for gold suggests upswing in gold is near an end, at least in the short term. The Large Speculators (dumb money) on in the largest long positing in gold going back one year, while the Commercials (smart money) on in the largest short position in gold. Either the smart money or dumb money are going to be right at this junction and the smart money (Commercials) wins again!
Expect One Final Low.
http://www.silverdoctors.com/wp-cont...4/07/polny.png
Feel free to share this Public Update with your friends and family!
July 13, 2014 Gold Charthttp://www.silverdoctors.com/wp-cont...GOLD-Chart.jpg
Cycle work allowed me to called then Silver $49 top, the $1900 Gold top, the June 28, 2013 Gold BOTTOM within 2-hours, the December 31, 2013 retest and higher low.
The coming summer low will be the FINAL ENTRY LOW and the ‘Buy-of-a- Lifetime’ before a Moon Shot to $2000 by year end!
Thank you,
Bo Polny
http://www.silverdoctors.com/a-final...eads-to-10000/
Marshall Swing: Silver May Dip to $8 Prior to Dollar Collapse & SuperNova Spike Through $500!
Posted on December 8, 2014 by The Doc
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Notice the abrupt halt to the precious metals “rally”. If the price spike was caused by enormous Speculator long buying enthusiasm, we would still be watching PM prices shoot or drift upwards. This was a Commercial exercise, pure and simple.
It is very indicative of what will happen next year on a far larger scale where Speculator longs will be pounded “in the blink of an eye” by a Commercial short covering of gargantuan proportions.
Price will descend into the abyss for moments while pre-programmed Speculator short buying eats up shorts all the way to the bottom as Commercials gladly take the longs and the temporary “losses” and then WHAM price rebounds upward just as suddenly as it dropped. But this time there will be no upper limit.
Price might just be about $14.15 (elite telegraphing the future?) this time next September when this event happens and may well dip into the $8 handle but when price rebounds minutes later it is not going to stop at $16.15 on it’s way to $100, $500, and beyond as trillions of dollars of paper fiat rush into commodities looking for a safe haven from what appears to be the repeat of the 2008 c rash.
Submitted by Marshall Swing:
http://www.silverdoctors.com/wp-cont...liff-edge.jpeg
I have written for a long, long time now the goal of the Commercials and The Powers That Be which control them, is to remove all desire on the part of investors, institutions, and countries to hold physical gold. Their end is to remove the “barbarous relic” from consideration and to put absolute faith and trust into the devices of men whose desires is to control and mold the world economies into a single functioning unit (with them at the helm) and to mold all cultural and religious thought into a new age. This new age would have many benefits, for them, such as this list found on the website of GlobalResearch.ca:
http://www.globalresearch.ca/the-tru...ning-now/13808
– “one international identify (observing) one set of universal values;”
– centralized control of world populations by “mind control;” in other words, controlling world public opinion;
– a New World Order with no middle class, only “rulers and servants (serfs),” and, of course, no democracy;
– “a zero-growth society” without prosperity or progress, only greater wealth and power for the rulers;
– manufactured crises and perpetual wars;
– absolute control of education to program the public mind and train those chosen for various roles;
– “centralized control of all foreign and domestic policies;” one size fits all globally;
– using the UN as a de facto world government imposing a UN tax on “world citizens;”
– expanding NAFTA and WTO globally;
– making NATO a world military;
– imposing a universal legal system; and
– a global “welfare state where obedient slaves will be rewarded and non-conformists targeted for extermination.”
which is an article on the Bilderberg group and its perceived goals.
I do not spend much time reading articles on Bilderberg’s or watching lengthy videos on the elite or watching the endless conspiracy documentaries but I do notice them and the congruency of goals and how that fits into the current world scene and where things have come from and where they seem to be going (my view is straight into the book of Revelation). If I had 48 hours in a day I probably would watch more of these things as I am sure these things are all happening for a reason as men try to govern themselves without God.
In the list above, we see universal values, universal legal systems, absolute control of education systems.
To do all of this requires total control over the economic system of the world and no one has that full control. Yet.
In the last couple of years we have seen issues like bank accounts in Cyprus being seized to pay outstanding bills of the country and endless articles this will be done all over the world. It is far easier to simply destroy the world’s economies, quickly, then present a new plan with a one world currency everyone can agree on rather than take decades to manipulate all the governments and their economies into the positions the elite desire. Besides, many of those elite will die in a few years/decades and not see the fruit of their labor OR they risk losing control and watching decades of manipulation go down the drain.
One way in which they are watching a rapidly approaching storm on the horizon is due to the BRICS nation’s influence and programs. These countries repeatedly balk at the Western governance and establish economic ties of their own in an effort to get away from the bondage of the U.S. Dollar. There is even a website dedicated to news about the BRICS and alternative news without Western massaging:
http://thebricspost.com/
You can definitely read news there you are not going to read in the main stream media or the financial main stream media of the West. Also, the news is contrasting whereas in the West we read negative news about China: http://news.yahoo.com/stock-futures-fall-soft-china-japan-data-124725585–finance.html and here we read positive news on the same day: http://thebricspost.com/china-export.../#.VIXpdzHF-pk and also states the Chinese have a 3 quarter trade surplus of $332.5 billion. Why does the article from the West not mention that?
Elsewhere in the West, we have the illustrious Mario Draghi head of the ECB telling us gold buying is out of consideration: http://www.zerohedge.com/news/2014-1...-buying-itselfhttps://www.youtube.com/watch?v=dFSOPsuGhLE
“ECB head Mario Draghi made it clear where the real battle is taking place in the world this morning. When asked what form QE would take, his response was to the point… “On what sorts of assets should be included in QE… we discussed all assets BUT gold” and gold dropped, right on cue.”
It’s not much of a crash, but then the next day gold crashed. Then rebounded quickly.
Yeah, let’s take that QE and buy the bad assets of the banks like toxic mortgage bascked securities but not gold, or silver.
If you know where to look you see event after event happening between the BRICS countries and those who also want to be in the BRICS:
http://thebricspost.com/china-to-pus.../#.VIXuaDHF-pk
Are these countries following the advice of Mario Draghi? NO.
http://www.silverdoctors.com/massive...g-record-year/
http://www.silverdoctors.com/chinese...orted-figures/
http://www.zerohedge.com/news/2014-1...tonnes-gold-q3
http://www.zerohedge.com/news/2014-1...ar-high?page=1
Interesting is the one chart in the last article showing gold demand far outstripping production!
And all the while price is going down for several years now. Make sense? No.
Now you have seen the evidence, you have to decide what it means for you, your family, friends.
In silver, everyone sees the 15 day 30 minute interval silver chart below and notices the crevasse that looks like a major fault line dividing the land. What do the numbers say happened? Notice what appears to be a major short covering in the Large Speculator of 8,332 contracts. Now, notice what you DO NOT SEE!
What you do not see is a corresponding long sale on the part of the Commercials that would indicate it was the Large Speculator who initiated the descent to $14.15
Quote from last week:
The reality is the metals do not crash like this, then rebound, to find out it is the work of the speculators going long that have caused such a thing. Only the Commercials can cause a crash like that and only they can cause a rebound like that. I have little doubt they destroyed new Speculator longs in the crash (while the Speculators were taking shorts as fast as they could), then went long on the way and at the bottom, then destroyed the Speculator shorts in a rapid rise in what gave the appearance of a strong LONG rally (only it is the commercial longs and HFT causing the “rally”).
So, obviously, the numbers we see on the COT are obfuscated so I make a note to self and do some math and chalk this up to a repositioning exercise by the Commercials instead of believing it is Speculators who decided to take my advice and cover their shorts, take massive profits, and get out of the game of the paper casino.
Notice the abrupt halt to the “rally”. If this was caused by enormous Speculator enthusiasm long buying that the Spring thaw was starting early, we would still be watching PM prices shoot or drift upwards and they are not. This was a Commercial exercise, pure and simple.
It is very (future-ly) “reminiscent” or indicative of what is going to happen next year on a far larger scale where Speculator longs will be pounded “in the blink of an eye” by a Commercial short covering of gargantuan proportions and price will descend into the abyss for moments while preprogrammed Speculator short buying eats up shorts all the way to the bottom as Commercials gladly take the longs and the temporary “losses” and then WHAM price rebounds upward just as suddenly as it dropped. But this time there will be no upper limit.
Price might just be about $14.15 (elite telegraphing the future?) this time next September when this event happens and may well dip into the $8 handle but when price rebounds minutes later it is not going to stop at $16.15 on it’s way to $100, $500, and beyond as trillions of dollars of paper fiat rush into commodities looking for a safe haven from what appears to be the repeat of the 2008 c rash.
The entire COMEX paper silver market is on $12.2 Billion. What happens when a $Trillion USD try to get in there?
Only this next time the crash will be far worse than what appeared manifest in 2008 as it is geared to enslave the entire world in a derivative first, then bond crash second securing two goals of wiping out debt of Western countries and wiping out fortunes of all the people thereby ensuring enslavement in the new one world governing system.
What we see in the silver COT are a significant total of long purchases by the Producer Merchant and the Swap Dealer and those short coverings by the Speculators so what we are seeing is the aftermath of what happened not what actually happened. With a dip and rebound like that you only get the end view and not the full events, in the numbers.
In gold, we get the rest of the story. Looking at the Commercials selling massive long positions (but where are their new shorts on the price rise?), one might theorize somewhere hidden in the crash. It is not so. They bought longs heavily near the bottom and sold them massively in the rebound for great profit. They will not sell next year in the crash. This is just an exercise to perfect their crashing abilities.
Now look at the disaggregated COT which reveals the Commercials buying shorts!
Makes no sense to buy them low at the bottom, does it?
What we see is the aftermath of a massive exercise meant to square up their positions and maintain very tight control over price and profit yet they did not let price run up so high as to make the Speculators think they have lost control of trying to defeat the Commericals at their own short game.
It is all MIND CONTROL.
You take the puppet, attach strings to the head, arms, hands BUT you also attach strings to the legs and feet so you control this puppet (Speculators) from both above and below. It is a fully manipulated, controlled fiat paper casino.
Anyone who wants to beat it should sell all their speculator shorts right now and buy physical metal!
Reporting from the Wilderness of Southern Illinois, stay thirsty for physical metal, my friends,
Marshall
https://www.facebook.com/marshall.swing.9
http://www.silverdoctors.com/marshal...e-through-500/
Silver Open Interest Anomaly
Posted on December 8, 2014 by The Doc
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Silver’s open interest is roughly 175,000 contracts, which is about 875,000,000 ounces of paper silver.
At market price that is about $13 Billion, or only about 15% of what the Fed created each month during QE3.
It would take very little digital currency, relatively speaking, to buy all the open interest, or to crush prices via naked sales of paper contracts. Stacks of physical silver are much safer and far more “real.”
Submitted by Deviant Investor:
Each week the CFTC publishes data from futures and options contracts for many commodities. Open interest shows the number of open contracts – one long for each short – in a particular commodity, say silver.
Usually price direction is consistent with open interest trend.
See the 14 year graph of open interest and prices in the silver market. Prices are shown on a log scale with silver prices in black, while open interest (per CFTC) is shown on the left in red.
http://deviantinvestor.com/wp-conten...OI-550x379.jpg
Note the similarity in the trends for open interest and prices from January 2001 through the end of 2011.
To more clearly analyze these trends, use a moving average for price and open interest to smooth the graphs. Now graph price and open interest (below) from January 2001 to December 2011. Excel calculated the statistical correlation at +0.56.
http://deviantinvestor.com/wp-conten...ly-550x381.jpg
Now graph price and open interest (below) from December 2011 through November 2014. It looks rather different. Excel calculated the statistical correlation at – 0.59. Generally speaking, the correlation between open interest and price reversed at the open interest low on 12/06/2011, which was quite close to the weekly price low at 12/30/2011.
http://deviantinvestor.com/wp-conten...er-550x393.jpg
What changed? I don’t know, but some possibilities are:
- A large buyer has aggressively added to futures contracts in the last several years and has remained long instead of selling and accepting losses as prices dropped.
- There was clear recognition that massive debt, bond monetization, QE, and “Operation Twist” would eventually devalue all currencies so consequently “big money” began moving into silver futures as an alternative.
- Germany requested the return (a few months later) of her gold from the NY Federal Reserve which encouraged insiders to buy silver futures.
- High Frequency Trading and market manipulation which attempted to suppress the prices for gold and silver, levitate the S&P, and sell the “economic recovery” story caused the anomaly.
- Something else.
Bill Holter has speculated that the Chinese, or their agents, have been buying silver contracts even as prices declined, in contrast to normal “trader” behavior.
If you have a good theory for what appears to be a clear anomaly, then please respond with a comment. In the meantime it looks like strange market behavior – perhaps one more example of the dominance of High Frequency Trading over human decision making.
Thought: Open interest is roughly 175,000 contracts, which is about 875,000,000 ounces of paper silver. At market price that is about $13 Billion, or only about 15% of what the Fed created each month during QE3. It would take very little digital currency, relatively speaking, to buy all the open interest, or to crush prices via naked sales of paper contracts. Stacks of physical silver are much safer and far more “real.”
Gary Christenson
http://www.silverdoctors.com/silver-...ly/#more-49031
“With central banks around the world trying to devalue their currencies, the US dollar stands as the cleanest shirt in the closet of dirty laundry. Some of the new reports emerging about the US economy are less than bullish. This has holders of US dollars thinking about a currency that might be stronger than the dollar. Thus, one hears words like “get out of dollars, get into gold,” and after years of bad-mouthing gold, the yellow metal is coming into acceptance again.
Below, an up to date P&F chart of gold. At 1210 we have a bull signal with an upside target projection at 1340. Subscribers who don’t own any physical gold should now move to make their first purchase. I’ll now stick my neck out and claim that the long awaited gold base is completed.
http://kingworldnews.com/kingworldne...3A9%3A2014.jpg
Gold is holding above 1200 as I write. High volatility in gold has caused traders of paper gold to pull their hair out. Those of us who have held physical gold have had little to worry about.
........................................
It’s late 1957. The bull market had started up in June 1949. Suddenly a recession starts in late 1957. Sentiment among the crowd turns black bearish. The market sinks into a severe correction. I don't believe that the bull market is over. People call me an idiot, but I am convinced that the bull market has a lot further to run. The reason is that the bull market never produced a third speculative phase. I write an article published in Barron’s to the effect that I expect a third highly speculative phase to appear ahead. People remain stubbornly bearish. They tell me I’m out of my mind. But I know that the market normally has a severe correction following the second phase of a bull market and just preceding the third speculative and final phase.
The Dow sinks to 419 in October and then turns up in the face of the severe recession. Investors are actually angry. How can the stock market be rising when there is a recession in progress? The stock market pushes relentlessly higher. My bullish Barron’s article causes a sensation. A little ad that I place in Barron’s brings in 300 subscriptions. Overnight I start up Dow Theory Letters. Within a week I am in business!
Now let’s return to the present. I believe a great speculative third phase lies ahead for this bull market. The coming third phase will see the stock market climb far higher than even the bulls think possible.
The question is: is it too late to enter the stock market? In the third phase of a bull market, usually more money is made than in the first two phases combined. Thus, I foresee the possibility of large gains if a third and final speculative phase is ahead. My advice is that you assume an initial position in DIA or SPY on any weakness.
What will be the leverage that will drive up the stock market in the coming third speculative third phase? The answer is human hysteria and greed. And never before seen, sky-high price-to-earnings ratios.
This piece may sound like a reversal of thinking on my part. But it is based on a weekend of deep thinking and memories of 1957. As for timing, I believe the coming third phase could last until 2016. It will have the effect of placing the United States as the continuing world leader. During the coming third phase, I expect new discoveries and inventions to excite mankind. Two stocks that I own in anticipation of the coming wildly speculative third phase are WR Berkley and Berkshire Hathaway. I continue to like physical gold and silver.
........................................
I’ve been writing Dow Theory Letters since 1958 and as you’ve probably guessed, I am not the same man in my nineties that I was back in 1958 when I was in my thirties. Subscribers have undoubtedly noticed that I write a great deal about spirituality, and that I frequently quote Emmet Fox. As I see him, Fox is a genius mystic, an historian and a great servant to mankind. In my reports, I have always attempted to reveal my innermost thoughts to my subscribers. I started out as agnostic, and to be honest, an atheist. But events during WWII and since have served to change my mind. I write what I’m thinking about and what I’m struggling with. And the majority of my subscribers don’t seem to mind (actually many of them like it).
I often ask myself whether I am doing any good in my stay on this good earth. If I have served to guide some of my subscribers toward the spiritual path, I will consider that my visit to the earth on this round will have been worth it. In closing, I’ll say that the most precious commodity on this earth, the most precious commodity that anyone can have, is peace of mind. The antithesis of peace of mind is fear. Fear is the curse of mankind. Man’s greatest task on earth is to equalize or get rid of fear. The path to getting rid of fear is learning to love yourself.
Words from Emmet Fox’s Sermon on the Mount:
The old saying, “God has a plan for every man, and he has one for you,” is quite correct. God has glorious and wonderful plans for every one of us. He has planned a splendid career, full of interest, life and joy, for each, and if our lives are dull, or restricted, or squalid, that is not his fault, but ours.
http://kingworldnews.com/kingworldne...n_Markets.html
Egon von Greyerz: “Eric, we are seeing a very nice move in gold and silver today. I have consistently said that the big move we are going to see for the next few years would start before 2015. The start of this move beginning in December seems perfect. I’m not surprised at the action at all and the breakout is clear....
“This advance will go a lot further on the upside, and this is happening at the same time that the stock markets are coming off a little bit and more importantly the dollar turning down. That’s very significant because I’ve always said that a move up in gold will be linked to a move down in the dollar.
It certainly looks as though the dollar is turning down here and this should be the beginning of a very big move to the downside for the dollar. So this is going to be the start of an exciting period for the precious metals that KWN readers around the world will enjoy for the next few years.
Eric, last week I was speaking at the Mines & Money Conference in London last week. It was interesting because I met with one of the wealthy family offices who had tens of millions of dollars of gold with one of the major Swiss banks. I asked him if he understood the risk and he said, ‘Well, there’s no risk because the gold is segregated.’
I then told him about the many experiences we have had with Swiss banks where the gold we tried to transfer from Swiss banks was not there. Clients received new bars because the gold they deposited that was supposed to be segregated was no longer in the vaults where it was supposed to be safely stored.
But there are other problems associated with being in the banking system that involve major risks. To leave large assets with a bank today, whether it’s gold, silver, or securities, involves massive counterparty risks. Take the largest two Swiss banks for example -- UBS and Credit Suisse -- they have a combined balance sheet of about 3 trillion Swiss francs. Well, that’s 5-times Swiss GDP. That means these two banks are too big for the country.
If you combine all the Swiss banks’ balance sheets it totals 7-times Swiss GDP. That’s on the same level as Cyprus and we all remember what happened with the Cyprus disaster that led to the bail-ins. We have discussed it many times, Eric, the fact that more bail-ins will come in the West. This will happen in many countries because when they have a banking system that is so big, bail-ins are the only way to solve the problem because the governments can’t solve it when you are talking about 7-times GDP.
But the balance sheets of the banks is nothing compared to the derivatives exposure they have. If you take UBS and Credit Suisse, they have a total of 83 trillion Swiss francs in derivatives. That is a staggering 135-times the entire annual GDP of Switzerland. That is insane. This is why it is so incredibly risky to be in the banking system.
But it’s not only the Swiss who are in this position. If you look at the 4 largest U.S. banks, they have a combined derivatives position of about $230 trillion. This is about 14-times U.S. GDP. And when I say $230 trillion, you have to remember that is valuing total outstanding worldwide derivatives at about $600 trillion. That is the revised figure the BIS (Bank for International Settlements) released 2 or 3 years ago. But I believe the total derivatives exposure is $1.2 quadrillion. That means the U.S. bank exposure is probably twice the $230 trillion figure.
And the risk today that counterparties will default on their derivatives is enormous. This is a world with debt of $270 trillion and $1.2 quadrillion of derivatives. So the risk of another Lehman catastrophe that leads to a worldwide domino effect is massive. And this could implode the entire global financial system.
In the midst of this massive bank leverage there are powerful deflationary forces that are building. This is putting pressures on the global economy and the banking system. So we can’t be too far from a massive money printing program. Central banks know that a deflationary implosion would mean the end of the banking system. All of this will be incredibly bullish for gold and silver going forward as well as the shares.”
Greyerz added: “At the Mines & Money Conference I had a fireside chat with Frank Giustra, who is a billionaire in the mining sector and a master of timing. He is absolutely convinced that this is the time to buy the mining shares of well-financed and well-managed companies. He has now invested a major amount of his capital in that sector and I agree with that.
Gold and silver look extremely good now both technically and fundamentally. And when you look at how quickly the entire global financial system can implode because of the immense derivatives nightmare, I understand Giustra’s massive bet on gold and silver prices going significantly higher. I also believe, like Giustra, that high quality mining companies can go up 10-times in price or even more in the years to come.”
http://kingworldnews.com/kingworldne...26_Silver.html
Chris Powell: Gold market manipulation: Why, how, and how long?
For example, the Chinese newspaper World News Journal wrote: "The United States and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. Submitted by cpowell on Tue, 2014-12-09 22:22. Section: The Basics | Documentation Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc. German Precious Metal Society and the Foundation for Liberty and Ratio
Hotel Bayerischer Hof, Munich, Germany
Tuesday, December 9, 2014 Thank you for coming here tonight even though I can speak only English. I'm afraid that when it comes to German I don't know scheisse. Maybe I have an excuse. Mark Twain tried very hard to learn German and wrote afterward that German should be classified with the dead languages because only the dead had the time to learn it. Still, I'm really glad to be here, since at least many of you speak English as well as German and since I've just come from London, where hardly anyone speaks English. For the first 48 hours I was in London the only person I heard speaking English was the hotel desk clerk, and she didn't seem too happy about it. The first time I heard English on the street it was from a guy who recognized me as an American rube and asked me for money. Yes, in London only the panhandlers speak English. ... Dispatch continues below ...
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But seriously, folks -- You didn't come here for my travelogue. So here goes. * * * Most financial journalism and most academic teaching maintain that gold is at best a quaint antique. But gold not only remains money but may again become the best and most important money. Even more than this, gold is in fact the secret knowledge of the financial universe, a secret desperately concealed by central banks. Gold already is so important that Western central banks -- particularly the U.S. Treasury and its Exchange Stabilization Fund, the Federal Reserve, and allied central banks -- rig the gold market every day, even hour by hour, to control and usually suppress gold's price. Why do Western central banks rig the gold market? It's because gold is a powerful competitive international currency that, if allowed to function in a free market, will determine the value of other currencies, the level of interest rates, and the value of government bonds. Gold's performance is usually the opposite of the performance of government currencies and bonds. So central banks fight gold to defend their currencies and bonds. The problem is that the tactics of central banks in their war against gold affect far more than gold; they affect markets generally and eventually destroy markets generally. This destruction of markets now has a name, a name used even by former members of the U.S. Federal Reserve Board. That name is "financial repression." There is much academic literature confirming gold's influence on currencies, interest rates, and government bonds throughout history. Prominent in this literature is the study written by Harvard University economics professor Lawrence Summers and University of Michigan economics professor Robert Barsky and published in August 1985 by the National Bureau of Economic Research, a study titled "Gibson's Paradox and the Gold Standard." As with all the documents I'll cite today, the Summers and Barsky study is posted at my organization's Internet site, GATA.org: http://www.gata.org/node/1373 Summers went on to become deputy treasury secretary and then treasury secretary of the United States and president of Harvard University and recently almost became chairman of the Federal Reserve Board, so his study with Barsky about gold's influence on currencies, interest rates, and bond prices may be good authority. The Summers and Barsky study implied that governments could achieve their ideal of low interest rates and strong government bond prices by controlling the price of gold. As it turns out, controlling the currency markets long has been the most efficient mechanism of imperialism. There is much history of this as well. Rigging the currency markets was the primary mechanism by which Nazi Germany expropriated occupied Europe during World War II. Expropriation by force of arms was actually only a small part of the Nazi conquest. The rigging of the currency markets -- that is, the gross distortion of exchange rates in Nazi Germany's favor -- turned every citizen of an occupied country into an agent of the occupation every time he used money. This currency market rigging directed all production in the occupied countries into Nazi Germany and blocked any return flow of production. It enabled Nazi Germany to run without consequence the same sort of fantastic trade deficit run in recent years by the United States. The United States learned all about the Nazi expropriation of Europe through currency market rigging because it was documented by the November 1943 edition of the U.S. War Department's monthly intelligence letter, Tactical and Technical Trends: http://www.gata.org/node/10457 Nazi Germany's manipulation of currency markets is also described in detail in the 2005 history "Hitler's Beneficiaries" by Gotz Aly: http://llco.org/hitlers-beneficiaries-2005-by-gotz-aly How do Western central banks and particularly the U.S. government rig the gold market? They used to do it conventionally and in the open by dishoarding their gold reserves at strategic moments, and then by dishoarding their gold reserves regularly, more often, even every day, as the United States, United Kingdom, and seven of their Western European allies did during the 1960s through a public operation called the London Gold Pool. The London Gold Pool held the gold price at $35 per ounce until it collapsed in March 1968 under rising demand that drained the U.S. gold reserve from 25,000 tonnes down closer to the 8,133 tonnes officially reported today: http://en.wikipedia.org/wiki/London_Gold_Pool After the collapse of the London Gold Pool the United States and its allies regrouped to decide how to rig the gold market surreptitiously -- not just with dishoarding but also with the so-called leasing of gold; with the purchase and sale of gold derivatives, including futures and options; and, more recently, with high-frequency trading undertaken through investment houses that are happy to serve as government's intermediaries in the gold market, since they can front-run government trades. When the rigging is done surreptitiously like this, much less central bank gold has to be dishoarded and the dishoarding that is done has far more suppressive influence on the price. But Western central bank market rigging goes far beyond gold. In an essay published in 2001 and titled "The Debasement of World Currency -- It Is Inflation, But Not as We Know It" -- http://www.gata.org/node/8303 -- the British economist Peter Warburton discerned that central banks were using investment banks to issue derivatives throughout the commodity futures markets to siphon away money that was seeking a hedge against inflation. That is, derivatives divert money from the hoarding of real goods, hoarding that would drive up consumer price indexes and make inflation even more obvious to the markets and the public. Most of these derivatives are essentially naked short positions that cannot be covered. Warburton concluded that the prerequisite of a hedge against monetary debasement would have to be some asset that was not attached to a futures market, since anyone with access to enough money can control any futures market, and central banks have access to infinite money. Inflation hedges Warburton suggested included farmland and clean water supplies. For as the saying goes: "The futures markets are not manipulated; the futures markets are the manipulation." This market rigging by central banks and their agents explains the great disparagement of gold today: that, despite its tremendous price increase over the last 15 years, gold has not kept up with inflation since the metal's last great rise around 1980. Somehow no one who disparages gold asks why it has not kept up with inflation. The answer is that gold derivatives have created a vast imaginary supply of gold for which delivery has not been demanded, since most gold investors choose to leave their gold purchases on deposit with the bullion banks that sold them the imaginary gold. As a result the world now has a fractional-reserve gold banking system that is leveraged in the extreme. Yes, all commodity futures markets have created paper promises of supply that could not be covered by real product and have been settled in cash. But most commodity markets are for goods that eventually are delivered and consumed to a great extent. Gold is different, for gold is not consumed but rather hoarded, as a means of exchange, as money, even as most gold purchased in the futures markets is never delivered at all but rather left on deposit with those financial institutions that purport to sell it. This system has produced a very disproportionate amount of imaginary, elastic, but undeliverable supply, even as people buy gold precisely because they assume that its supply is not elastic, that its supply is limited to total past production plus annual mine production. That assumption is a terrible mistake. While the principle of most gold investment analysis is "You can't print gold," "paper gold" can be printed to infinity just like regular government currency -- and indeed it has been printed practically to infinity. You can get an idea of the vast imaginary supply of gold by reviewing the incomprehensibly huge gold and interest rate derivative positions attributed to the U.S. investment bank JPMorganChase in the reports of the U.S. Comptroller of the Currency. These derivative positions are almost certainly not JPMorganChase's own positions at all but, as GATA consultant Rob Kirby of Kirby Analytics in Toronto has written, rather U.S. government positions arranged through MorganChase: http://news.goldseek.com/GoldSeek/1249407911.php As John Hathaway, manager of the Tocqueville Gold Fund, wrote last month: http://www.tocqueville.com/insights/monetary-tectonics "The modern-day central banker trades with counterparties that are giant commercial banks with derivative books of disturbing scale and complexity. It seems impossible that these commercial exposures could be constructed and maintained without the knowledge and complicity of the official sector. For example, Deutsche Bank, already a defendant in a thousand lawsuits, claims derivative exposure that is 20 times the gross domestic product of Germany and five times that of the entire Eurozone. It is not a great leap to suggest that central bank traders and their megabank opposites -- spawn of the same gene pool, schooled in the same institutions, career paths intertwined, frequenters of the same conferences, and just a speed-dial away -- are ideologically indistinguishable and intellectually and morally corrupt in equal proportion." After all, the U.S. Treasury Department's Exchange Stabilization Fund is expressly authorized by law, the Gold Reserve Act of 1934, as amended, to trade secretly in all markets, including the gold market, on the U.S. government's behalf. And the law expressly exempts the ESF from answering to anyone but the treasury secretary and the president: http://www.treasury.gov/resource-center/international/ESF/Pages/esf-inde... Gold market expert Jeffrey Christian of CPM Group testified to a hearing of the U.S. Commodity Futures Trading Commission on March 25, 2010, that the ratio of "paper gold" to real metal in the so-called London physical market may be as high as 100 to 1: http://www.gata.org/node/8478 In January 2013 a report by the Reserve Bank of India estimated the ratio of paper gold to real gold at 92 to 1: http://www.gata.org/node/12088 CPM Group's Christian described the manufacture of "paper gold" in his essay "Bullion Banking Explained" published in 2000: http://www.gata.org/node/8627 Some international investment houses are on the short end of this enormous leverage and are existentially vulnerable to a short squeeze. It is not likely that they would put themselves in such a position without assurances of emergency support from central banks -- and indeed the investment houses have received such assurances many times in public statements by central bankers. For there are many official admissions of gold market rigging. These include statements by four former chairmen of the U.S. Federal Reserve Board (Alan Greenspan, Paul Volcker, Arthur Burns, and William McChesney Martin); the minutes of the Federal Open Market Committee; declassified U.S. Central Intelligence Agency and State Department records, including one that cites the necessity for the U.S. government to remain "the masters of gold" -- http://www.zerohedge.com/article/declassified-state-dept-data-highlights... http://www.scribd.com/doc/20215562/Gold-Telegram -- statements by central bankers from other countries, including three officials of the Bank for International Settlements; and documents from the BIS and the International Monetary Fund. For example: -- In testimony to Congress in July 1998, Federal Reserve Chairman Alan Greenspan declared that "central banks stand ready to lease gold in increasing quantities should the price rise." Thus Greenspan confirmed that the purpose of gold leasing was not what was usually claimed -- to earn central banks a little money on their supposedly dead asset in their vaults -- but rather to suppress the monetary metal's price: http://www.federalreserve.gov/boardd...8/19980724.htm -- In January 2012 former Federal Reserve Chairman Paul Volcker admitted to the German financial journalist Lars Schall, who is here tonight, that central banks need to suppress the gold price to stabilize exchange rates at what he called a "critical point": http://www.gata.org/node/10923 Volcker already had written in his memoirs that in 1973 as a U.S. Treasury Department official he advocated gold price suppression: http://www.gata.org/node/8209 http://www.gata.org/files/VolckerMemoirs.pdf -- In 2009 a remarkable 16-page memorandum was discovered in the archive of the late Federal Reserve Chairman William McChesney Martin. The memorandum is dated April 5, 1961, and is titled "U.S. Foreign Exchange Operations: Needs and Methods." The memo is a detailed plan of surreptitious intervention by the U.S. government to rig the currency and gold markets to support the U.S. dollar and to conceal, obscure, or even falsify U.S. government records and reports so that the rigging might not be discovered. This document remains on the Internet site of the Federal Reserve Bank of St. Louis: http://fraser.stlouisfed.org/docs/hi...6_19610405.pdf For safety's sake it is also posted at GATA's Internet site: http://www.gata.org/files/Martin-WilliamMcChesny-MarketManipulationPlan.... -- In a letter to President Gerald Ford in June 1975, Federal Reserve Chairman Arthur Burns reported a secret agreement with the German Bundesbank to obstruct market pricing for gold. Burns wrote to the president: "I have a secret understanding in writing with the Bundesbank, concurred in by Mr. Schmidt" -- Helmut Schmidt, West Germany's chancellor at the time -- "that Germany will not buy gold, either from the market or from another government, at a price above the official price of $42.22 per ounce." Burns added, "I am convinced that by far the best position for us to take at this time is to resist arrangements that provide wide latitude for central banks and governments to purchase gold at a market-related price." The Burns letter is posted at GATA's Internet site here: http://www.gata.org/files/ArthurBurn...d-June1975.pdf -- In June 2004 the deputy chairman of the Bank of Russia, Oleg Mozhaiskov, told a conference of the London Bullion Market Association in Moscow that he suspected the United States of suppressing the gold price. Mozhaiskov mentioned the Gold Anti-Trust Action Committee, the only words he spoke in English, though at that time GATA had never knowingly had any contact with anyone in Russia: http://www.gata.org/node/11723 -- A president of the Netherlands Central Bank who was also president of the Bank for International Settlements, Jelle Zijlstra, wrote in his memoirs in 1992 that the gold price was suppressed at the behest of the United States: http://www.gata.org/node/11304 -- William R. White, the director of the monetary and economic department of the Bank for International Settlements, the central bank of the central banks, told a BIS conference in Basel, Switzerland, in June 2005 that a primary purpose of international central bank cooperation is "the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful": http://www.gata.org/node/4279 -- The Bank for International Settlements actually advertises to potential central bank members that its services include secret interventions in the gold market. Here's a slide from a PowerPoint presentation the bank made to prospective central bank members in at BIS headquarters in Basel in June 2008: http://www.gata.org/node/11012 http://www.gata.org/files/BISAdverti...erventions.pdf -- Indeed, according to its annual report last year, the BIS functions largely as a gold banking and gold market intervention service for its member central banks. On Page 110 of the report the BIS says: "The bank transacts foreign exchange and gold on behalf of its customers, thereby providing access to a large liquidity base in the context of, for example, regular rebalancing of reserve portfolios or major changes in reserve currency allocations. The foreign exchange services of the bank encompass spot transactions in major currencies and Special Drawing Rights (SDR) as well as swaps, outright forwards, options, and dual currency deposits (DCDs). In addition, the bank provides gold services such as buying and selling, sight accounts, fixed-term deposits, earmarked accounts, upgrading and refining, and location exchanges." The only point of central banks trading in gold derivatives is to affect the price. See: http://www.gata.org/node/12717 -- Secret gold market interventions by the BIS have been going on for a long time. A long article in Harper's magazine in 1983, based on a seemingly unprecedented interview with BIS officials, disclosed that the BIS was constantly intervening in the gold market in secret: http://www.gata.org/node/8773 -- Perhaps most incriminating is the secret March 1999 staff report of the International Monetary Fund that GATA obtained in December 2012. The secret IMF report says Western central banks conceal their gold swaps and loans to facilitate their secret interventions in the gold and currency markets: http://www.gata.org/node/12016 http://www.gata.org/files/IMFGoldDat...-3-10-1999.pdf Some records of surreptitious intervention in the gold market by Western central banks are quite current. The director of market operations for the Banque de France, Alexandre Gautier, told the London Bullion Market Association’s meeting in Rome in September 2013 that the French central bank trades gold for its own account "nearly on a daily basis" and is "active in the gold market for other central banks and official institutions." http://www.gata.org/node/13373 Speaking again to the LBMA, meeting last month in Lima, Peru, Gautier said central banks lately have been managing their gold reserves "more actively," and the slides he presented indicated that this more active management is undertaken mainly through gold swaps, a mechanism of surreptitious market intervention. In what appeared to be a reference to the recent clamor for gold repatriation in Germany and Switzerland, Gautier cautioned his co-conspirators at the LBMA that what he called "auditability" is "becoming a crucial issue" for central bank gold reserves. http://gata.org/node/14716 -- The recent participation of the United States in gold market manipulation was confirmed by a member of the Board of Governors of the Federal Reserve System, Kevin M. Warsh, in a letter written in September 2009 denying GATA's request for access to the Fed's gold records. Warsh wrote that among the records the Fed was refusing to show GATA were records of gold swap arrangements between the Fed and foreign banks: http://www.gata.org/node/7819 http://www.gata.org/files/GATAFedRes...09-17-2009.pdf In commentary published in The Wall Street Journal in December 2011 Warsh wrote about what he called "financial repression" by governments. "Policy makers," Warsh wrote, "are finding it tempting to pursue 'financial repression' -- suppressing market prices that they don't like." Warsh added, "Efforts to manage and manipulate asset prices are not new." http://www.gata.org/node/10839 I later reached Warsh by e-mail and asked him if he had learned about "financial repression" through his service on the Federal Reserve Board. I also asked him if he would identify the asset prices under manipulation by policy makers. He cordially wished me a nice day. The government of China knows all about the gold price suppression scheme and isn't afraid to talk about it. The U.S. State Department diplomatic cables obtained by the Wikileaks organization and published in 2011 included cables from the U.S. embassy in Beijing to the State Department in Washington that were translations of reports from the Chinese government-controlled news media. These translations included stories and commentaries about gold price suppression by the United States.
They don't want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the United States in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi."
So not only does the Chinese government know all about the gold price suppression scheme -- the U.S. government knows that China knows:
http://www.gata.org/node/10380
http://www.gata.org/node/10416
Many people in the gold business in China also know about gold price suppression by the U.S. government and its allies.
For example, thanks to GATA consultant Koos Jansen, now market analyst for Bullion Star in Singapore, last January GATA published the remarks of the president of China's gold mining association, Sun Zhaoxue, to a financial conference in Shanghai, in which he said gold price suppression is U.S. government policy to maintain the dominance of the U.S. dollar in the ongoing international currency war:
http://www.gata.org/node/13446
And last December GATA distributed commentary by Zhang Jie, deputy editor of the Chinese publication Global Finance and a consultant to the China Gold Association, who said the U.S. Federal Reserve manipulates the gold market to protect the U.S. dollar's standing as the world reserve currency. Zhang said:
"Through continuous gold leasing the gold in the market can be circulated and produce derivatives, creating more and more paper gold. This is very significant for the United States. Gold leasing is a major tool for the Federal Reserve and other central banks in the West to secretly control and regulate the gold market, creating gold credit derivatives and global credit conflict":
http://www.gata.org/node/13314
The U.S. government's public archives are actually full of records documenting the government's longstanding objective of removing gold from the world financial system to maintain the dominance of the U.S. dollar as the world reserve currency.
Perhaps most descriptive are the minutes of a meeting at the U.S. State Department in April 1974 between Secretary of State Henry Kissinger and his assistant undersecretary of state for economic and business affairs, Thomas O. Enders.
The meeting addresses the growing desire among Western European countries to revalue their gold reserves upward, thereby increasing gold's role in the international financial system and threatening the dollar's status:
http://www.gata.org/node/13310
Secretary Kissinger asks: "Why is it against our interest to have gold in the system?"
Assistant Undersecretary Enders answers him.
Mr. Enders: It's against our interest to have gold in the system because for it to remain there it would result in it being evaluated periodically. Although we have still some substantial gold holdings -- about $11 billion -- a larger part of the official gold in the world is concentrated in Western Europe. This gives them the dominant position in world reserves and the dominant means of creating reserves. We've been trying to get away from that into a system in which we can control. ...
Secretary Kissinger: But that's a balance-of-payments problem.
Mr. Enders: Yes, but it's a question of who has the most leverage internationally. If they have the reserve-creating instrument, by having the largest amount of gold and the ability to change its price periodically, they have a position relative to ours of considerable power. For a long time we had a position relative to theirs of considerable power because we could change gold almost at will. This is no longer possible -- no longer acceptable. Therefore, we have gone to Special Drawing Rights, which is also equitable and could take account of some of the less-developed-country interests and which spreads the power away from Europe. And it's more rational in ...
Secretary Kissinger: "More rational" being defined as being more in our interests or what?
Mr. Enders: More rational in the sense of more responsive to worldwide needs -- but also more in our interest. ...
So there you have it. Whoever has the most gold can control its valuation -- and implicitly the valuation of every currency -- and thereby create the most "reserves," the most money.
Of course money is power and infinite money is infinite power. The interest of the United States, at least as it was perceived at that meeting at the State Department in April 1974, was to dominate the world through the power over money creation and currency valuation.
Documentation continues to be discovered. A few weeks ago the founder of the market research company Nanex in Illinois, Eric Scott Hunsader, called attention to documents filed with the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission by CME Group, operator of the major futures exchanges in the United States.
In its filing with the CFTC, the CME Group reports that it is giving volume trading discounts to central banks for trading all major futures contracts in the United States -- financial futures, metal futures, and agricultural futures:
http://www.gata.org/node/14385
In its filing with the SEC the CME Group reports that its customers include "governments and central banks":
http://www.gata.org/node/14411
The CME Group letter to the CFTC justifies secret futures trading by central banks throughout the currency and commodity markets as a matter of adding "liquidity" that will benefit all traders. But "liquidity" here is actually an ocean, for central banks can create infinite money, and no ordinary investor can trade against a central bank.
That central banks and governments are secretly trading all major futures markets in the United States signifies that central bank intervention in markets is now likely comprehensive -- that there really are no markets anymore, just interventions, that the main objective of central banking now is to prevent markets from happening at all,and that the market economy that has been the engine of progress and democracy has been destroyed.
This is the financial news story of the century.
GATA has sent all these documents to major financial news organizations throughout the world. But no mainstream financial news organization has yet reported about them and what they mean.
There are many, many more records about the Western government policy of gold price suppression. They are posted in the "Documentation" section of GATA's Internet site --
http://www.gata.org/taxonomy/term/21
-- but the records located by GATA are almost certainly only a small fraction of the documents that exist.
These records are not mere speculation and "conspiracy theory." They are the records of decades-long Western government policy conducted almost entirely in secret.
But there is nothing wrong with the word "conspiracy" here.
Conspiracy occurs when people meet in secret to decide and pursue a course of action.
For example, it was conspiracy when the central bank members of the European Central Bank met secretly over the last 15 years to formulate all four editions of their Central Bank Gold Agreement and said they would continue to meet secretly to plot their policy toward gold:
http://www.ecb.europa.eu/press/pr/da...140519.en.html
It also was conspiracy when the G-10 Gold and Foreign Exchange Committee, consisting of representatives of the central banks and treasury departments of the major industrial nations, met secretly in April 1997 at the BIS in Switzerland to coordinate their secret policies toward the gold market:
http://www.gata.org/node/9623
Indeed, even in nominally democratic countries, government itself is often conspiracy. Government is conspiracy whenever it functions in secret. How can any serious market analyst or journalist disparage the term?
Then there is the evidence of market action itself.
GATA also has exposed gold market manipulation by examining trading data, most notably in a study by our late board member and market analyst Adrian Douglas showing that the gold price during trading in the London market went down steadily for 10 years even as the world gold price went up steadily in that time. Anyone buying gold on the opening of the London market and selling it on the close every day over the last decade would have lost a huge amount of money even as the gold price rose steadily:
http://www.gata.org/node/8918
GATA consultant Dimitri Speck, who is here tonight, has written a whole book compiling the data of gold market manipulation, "Secret Gold Policy":
http://www.geheime-goldpolitik.de/english/
That is, the London Gold Pool of the 1960s suppressing the price continues to operate today, only with different mechanisms.
In the last several years attacks on the gold price have become frequent and obvious, like the strange dumping of paper gold in the futures markets on April 12 and 15, 2013, where the nominal equivalent of maybe a quarter of annual gold mine production was sold in two days even though there was no special gold-related news. Many similar dumps are undertaken at particularly illiquid times as some entity with access to seemingly infinite money tries to pound the gold price down for psychological effect.
Even on October 1, 2013, as the U.S. dollar index broke below 80 and the government of the world's only superpower, the issuer of the world reserve currency, was incapacitated and half shut down by political turmoil, the gold price suddenly fell by 5 percent under an avalanche of futures selling, sometimes at a rate of many thousands of contracts per second.
These overwhelming attacks on the gold market out of the blue are almost certainly incidents of government intervention. Nothing else can plausibly explain them.
Indeed, central banks refuse to explain their involvement in the gold market.
In 2009 GATA sued the Federal Reserve in U.S. District Court for the District of Columbia seeking access to the Fed's gold records. Technically we won the case in 2011, as the court ordered the Fed to disclose one record, the minutes of that G-10 Gold and Foreign Exchange Committee meeting in April 1997.
The Fed was ordered to pay GATA court costs, which it did.
But the court allowed the Fed to conceal all its other gold records:
http://www.gata.org/node/9917
Since that time GATA has peppered Western central banks with specific questions about their gold activities, which is something financial journalism, mining companies, or any ordinary investor could do. The central banks largely maintain a guilty silence.
For example, in July 2013 the Bank of England reported on its Internet site that it was vaulting about 1,200 tonnes of gold less than it had listed in the bank's annual report in February. GoldMoney research director Alasdair Macleod called attention to this. It raised suspicion that the departed gold had been used in the smashing of the gold price three months earlier. So GATA asked the Bank of England to explain the discrepancy.
The Bank of England replied only that the data posted on its Internet site for the public was "deliberately non-specific." But that data had been fairly specific, and had given a number vastly different from the number published in the bank's annual report. Sensing its vulnerability, the Bank of England concluded its brief statement arrogantly and defensively: "The bank will not be offering any further comment on this matter." See:
http://www.gata.org/node/12859
The specific questions that GATA has put to central banks without receiving answers are posted at our Internet site and remain available to any serious financial journalist or gold investor:
http://www.gata.org/node/11661
http://www.gata.org/node/14606
As long as central banks refuse to answer some basic questions about their involvement in the gold market, it must be concluded that they have much to hide.
Why does all this matter? How might it end?
It matters because the rigging of the gold market is the rigging that facilitates the rigging of all markets -- part of a much broader scheme by which a secretive and unelected elite in the United States and Western Europe controls the value of all capital, labor, goods, and services in the world -- controls the value of everything and thereby impairs or destroys all markets and democracy itself everywhere and obstructs humanity's progress.
This is an utterly totalitarian and parasitic system. It is also just the latest manifestation of the everlasting war of the financial class against the producing class, only it is hidden well enough that the producing class hasn't yet figured it out.
This system might end in various ways.
First it's a question of world politics at the highest levels.
The system may end at the insistence of the developing world with an official worldwide revaluation of gold and gold's formal restoration to the international monetary system and the demotion of the U.S. dollar.
The system may end when one country pulls the plug on it, exchanging U.S. dollars and government bonds for more gold -- real metal -- than is available, or when ordinary investor demand exhausts supply, which is more or less how the London Gold Pool ended in 1968.
Or the system may end as part of a plan by the major central banks to avert the catastrophic debt deflation that now threatens the world.
For example, a study in 2006 by the Scottish economist Peter Millar concluded that to avert such a catastrophic debt deflation, central banks would need to raise the gold price by a factor of seven to 20 times in order to reliquefy themselves and devalue their currencies and society's debts generally:
http://www.gata.org/node/4843
In May 2012 the U.S. economists and investment fund managers Lee Quaintance and Paul Brodsky published a report speculating that central banks likely are already redistributing gold reserves among themselves in preparation for just such an upward revaluation of gold and gold's return as formal backing for currencies:
http://www.gata.org/node/11373
The current system's end is an arithmetical question, a question of how much real gold is retained by the central banks participating in the price suppression scheme. Some metal is always draining away to support the gold derivatives system, and it seems lately that more is draining away every year than is being mined. How much do the gold-suppressing central banks really still have left? How much gold has been put into the market through swaps and leases?
Central banks refuse to say. For since the control of gold is the control of markets and the control of the valuation of everything, the amount, location, and disposition of central bank gold reserves are state secrets far more sensitive than the amount, location, and disposition of nuclear weapons.
The end of central bank market rigging is a question of education and publicity, a question of whether central banks that are not part of the gold price suppression scheme and investors alike will ever realize that as much as 90 percent of the world's investment gold, supposedly being held in trust for its owners, has been, to put it politely, oversubscribed. That is, the gold may not exist. If there is ever such a realization and delivery is demanded, gold will rise to multiples of its current price.
While that prospect excites gold investors, will governments let them keep the resulting extraordinary gains, or will governments impose windfall profits taxes or even try to confiscate gold?
If the gold price soars, will governments let mining companies keep taking metal out of the ground at current royalty rates? Will governments even let private companies keep mining gold at all?
On the other hand, if there is no general realization of the fraud of "paper gold" and central bank intervention in markets, gold price suppression and the destruction of markets generally may go on forever.
Central banks are formidable enemies because of their power to create infinite money and debt. But that power is not their biggest advantage in the gold suppression scheme and the scheme to defeat markets and democracy generally.
For the scheme cannot work without deception, surreptitiousness, and misunderstanding.
And therefore to be overthrown the scheme needs only to be exposed, since when people realize that a market is rigged, they will not take the losing side of the trade.
That's why the biggest advantage of central banks here is not their power of money and debt creation but rather the complicity of the financial news media and the gold mining industry itself.
Mainstream financial journalists will not press the vital questions. Indeed, the first rule of mainstream financial journalism is: Never put a critical question to a central bank and report the inadequate answer. The second rule of mainstream financial journalism is that the first rule goes double in regard to gold.
The journalistic questions for central banks could begin very simply:
1) Are central banks trading secretly in the gold market and other markets, directly or through intermediaries, or not?
2) If central banks are secretly trading in the gold market and other markets, directly or through intermediaries, does this trading have policy purposes or is it just for fun?
3) And if this secret trading does have policy purposes, what are they and why are they too being kept secret?
Then the answers from central banks could be compared with the documentation GATA has compiled.
As for the gold mining industry, it seems unaware of the monetary nature of its product and the way the price of its product is suppressed. Further, the gold mining industry has been intimidated by its governments and its bankers, all agents of central banks, and has consented to die quietly.
Will any of this ever really change?
I think it will eventually. Some central banks are growing suspicious of what presents itself as the gold market and are steadily accumulating gold reserves. And of course here in Germany your citizens campaign has induced the Bundesbank at least to claim that it is gradually repatriating your national gold reserves. Your citizens campaign has caused enormous trouble and embarrassment for the bad guys and has inspired similar movements in other countries. I salute you.
But will any of us live to see the defeat of totalitarian central banking as it is now practiced? I don't know. Sometimes I can only get apocalyptic about it, with a little help from the American abolitionist poet James Russell Lowell:
Truth forever on the scaffold,
Wrong forever on the throne,
Yet that scaffold sways the future,
And, behind the dim unknown,
Standeth God within the shadow
Keeping watch above His own.
In this struggle we are up against nearly all the money and power in the world. But the Ascent of Man should continue, and if we're doing the right thing we can hasten that ascent a little. We are all working to advance the ideals of democratic, transparent, and limited government, of fair dealing among nations and people, and, really, to advance individual liberty and the brotherhood of man, which, in the end, are what the monetary metals are about.
If you'd like more information about this issue or help in locating any of the documents I've mentioned, please e-mail me at CPowell@GATA.org.
Thanks for your kind attention.
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Really Nice Bottom in Silver – Maybe
Posted on December 14, 2014 by The Doc
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Is $14.10 all she wrote for silver bears?
Technically, we cannot yet confirm this; however, I must admit that this particular bottom does appear rather alluring…
Submitted by Joe Russo, EWT:
If you’re wondering whether silver has finally bottomed, just hang on because in a minute, we’re going to outline the 3-essential criteria points that will determine if this is going to be the case or not.
Is $14.10 all she wrote for silver bears? Technically, we cannot yet confirm this; however, I must admit that this particular bottom does appear rather alluring.
Don’t get your shorts all twisted in a bunch just yet people. Remember, you don’t want to fall prey to every pretty-looking bottom that comes along now, do you?
Dang, that is a super nice looking bottom though, isn’t it? How can we know for sure? What if this truly were “the bottom,” the one we’ve been waiting for so desperately?
http://www.silverdoctors.com/wp-cont...ver-bottom.png
Listen, I am fully aware that there are an awful lot of aloof stackers out there who just assume ignore charts and paper prices. Their thinking, and to a certain extent rightly so, is that the paper price is rigged so why bother – just keep exchanging worthless paper for a real tangible asset and forget about it.
In a future article, I shall endeavor to reveal that at the end of the day, whether you like it or not – rigged or otherwise – that the paper-price of everything, which includes silver and gold – matters – to everyone.
For now, with regard to paper-prices and rigging, let’s just set all such aloofness aside and ponder what it would take to confirm that $14.10 is indeed “the-bottom” that stackers have been longing for.
3-Essential Criteria to Confirm a $14.10 Bottom in Silver
- Obviously, the $14.10 level must hold the print low.
- From and Elliott Wave Perspective, in order to maintain an impulsive price pattern, the $16.68 level should not be breached going forward.
- The current rally should extend to or beyond $19.26, and thereafter, the old bear market low of $18.18 should become rock solid support.
If any one of the above criteria fails to hold muster, then lower lows remain plausible. After all, we must remember that we are still dealing with a long-term bear-market condition here.
Until the price-action confirms by meeting all of the above criteria, a long-term bear market it shall remain – so don’t take profits on your long-term paper-shorts just yet.
http://www.silverdoctors.com/really-...be/#more-49228
http://www.graceland-updates.com/ima...15jan6gdx1.png
http://www.silverdoctors.com/wp-cont...ina-dragon.pngAmerica is in no condition to endure an economic downturn, yet a downturn is coming, almost as surely as night follows day.
When the next crisis unfolds, I expect the Fed to quietly ask the Chinese central bank to revalue gold, by announcing a major gold buy program.
This would allow China’s currency to become a competitor with the dollar.
Equally importantly, it would allow the Fed to hide the key role that a higher gold price would play, in managing US government debt that is clearly out of control.
- In late 2013, I predicted the Fed would taper its QE program to zero, and the first taper would cause gold to rally, stunning the Western gold community. I also predicted the taper would turn the US stock market into a “wet noodle”. That’s what happened.
- In 2015, I expect the Fed to hike rates sooner than most analysts expect, and I’m predicting that gold rallies on these rate hikes, and global stock markets take a horrific beating. I expect the stock markets of India and China to recover from that beating, but not the American market.
- Despite yesterday’s mini-crash, I don’t think the American stock market is pricing in the reality of the coming rate hikes.
- Please click here now. That’s the daily Dow chart, and it’s off to a terrible start this year.
- The “January indicator” that I use focuses on the first week of trading during each year. If the Dow ends that first week on the downside, it can indicate the entire year will be negative.
- That’s because how the Dow trades during the first week of January is a very good barometer of how institutional money managers are adding or withdrawing risk capital, with a one year outlook. So far, their outlook is very negative.
- Please click here now. That’s the monthly Dow chart. I would not be a buyer of the US stock market, unless the Dow declined to the 14,000 area, and even then I’d only be a light buyer.
- Please click here now. I’ve argued for years that the US government is more interested in the corporate stock market than the real unemployment rate, because large corporations provide a lot of money to get politicians elected. Those corporations benefit from higher stock prices. Some analysts believe the stock market can only crash when the public is heavily involved, but I would argue that the hedge funds are the “new era” public, just as robots and computers are becoming the workers of the new era.
- Rig counts are beginning to drop in US oil fields, and large layoffs are likely coming, yet the government continues to boast that more restaurant jobs are being created. Clearly, America is in no condition to endure an economic downturn, yet a downturn is coming, almost as surely as night follows day.
- When the next crisis unfolds, I expect the Fed to quietly ask the Chinese central bank to revalue gold, by announcing a major gold buy program. This would allow China’s currency to become a competitor with the dollar.
- Equally importantly, it would allow the Fed to hide the key role that a higher gold price would play, in managing US government debt that is clearly out of control.
- Please click here now. That’s the daily oil chart. The price has arrived at my short term $49 target area.
- I think oil may trade under $30. Rate hikes and a peak in the US business cycle could keep it there for a long time, which is fabulous news for gold mining companies.
- At the start of December, the Indian central bank killed the 80-20 gold export rule, and gold immediately soared about $100!There are strong rumours that the Modi government may be only about 48 hours away from making another major announcement, directly relating to gold.
- “The Union Commerce Secretary Rajeev Kher has scheduled a meeting on Jan. 7, which will be attended by representatives from country’s finance ministry, the Gems and Jewellery Export Promotion Council (GJEPC) and the Reserve Bank of India (RBI). According to reports, the government intends to extend the ‘Make in India’ campaign into gold sector.” –Resource Investor News, January 5, 2015.
- Indian gold demand is the elephant in the gold price discovery room, and that elephant is beginning to “stand up and take charge”. “The recent survey conducted by the country’s leading credit rating agency ICRA Ltd shows that the gold jewelry demand in Indian domestic market is poised to witness 10% growth in 2015.” – Scrap Monster News, January 5, 2015.
- Dramatically lower fuel costs, coupled with higher demand for gold from China and India appear to be creating a huge “win-win” situation, for Western gold stock investors!
- Please click here now. That’s the daily GDX chart, and the fundamental price drivers are creating a very bullish technical picture. Note the buy signal in play on my 14,7,7 series Stochastics oscillator. Volume is bullish. A two day close above $20.50 could ignite a powerful rally, to the $28 area.
- Please click here now. That’s the GDXJ chart. I think most analysts are underestimating the dramatic effect that low fuel prices and surging Chindian demand can have on the price of junior gold stocks. Naked shorting should soon be replaced by “institutional respect” for gold stocks, and that includes the junior sector.
- The reason most gold bears have been so wrong about gold crashing in 2014 and 2015, is because they are excessively focused on technical analysis and the US economy. They also appear to be almost clueless about key events occurring in India and China.
- Going to war with only one weapon is an act of madness. It’s the same thing with investing in gold. Investors who stare at charts and just trade gold rather than embrace it as the ultimate asset, are likely to fail miserably, in the long term. That’s because charts don’t make fundamentals. Fundamentals make charts. The bears learned that the hard way, when the Indian central bank killed the 80-20 rule. They may be about to get another brutal lesson in gold market fundamentals, if the Modi government openly embraces the gold jewellery industry in the next 48 hours.
- The gold jewellery sector is the second largest employer in India, and gold is a key part of the Hindu religion. Simply put, the Western gold bears and their ridiculous chart patterns are no match for the “shock and awe” power of a billion Hindus, whose thirst for gold is…. insatiable!
- Please click here now. That’s the daily gold chart. Note the Stochastics oscillator buy signal in play now. Note the “bull era channel” that I highlighted. In the very short term gold will continue to move erratically, in response to key economic data like the upcoming jobs report on Friday. In the bigger picture, the rise and consistency of Chindian demand should create a stable and modestly rising price trajectory.
- Please click here now. That’s the daily chart for silver. Note the nice buy signal in play on my Stochastics oscillator. The bull channel is steeper than the gold channel, and that’s normal. Silver tends to rise more strongly than gold does, when both are in an uptrend. Bullion expert Koos Jansen has apparently reported that silver trading volume on the Shanghai market exceeded that on the COMEX in 2014. I’ve predicted that gold will meet the same “fabulous fate” by 2017. Silver’s price tends to be determined by the gold price, and as gold trading volume in Shanghai (and Dubai) begins to overwhelm the COMEX, both gold and silver investors can probably look forward to many happy years, of higher prices!
Special Offer For Website Readers: Please send me an Email tofreereports4@gracelandupdates.com and I’ll send you my free “Short The Dow, And Buy Gold Stocks Now!” report. I highlight the key Elliott Wave charts for the Dow and Gold Stocks from my associate and professional engineer, “Captain Ewave”, and show why the Dow could soon suffer 1000 point down days, while oil plunges and gold stocks surge. I’ll include Ewave analysis of key gold stocks!
Thanks!
Cheers
st
Stewart Thomson
Graceland Updates
http://www.silverdoctors.com/stewart...-revalue-gold/
Wealth Watchman: The Great Financial Tsunami is Still Coming For the Banksters!
Posted on January 6, 2015 by The Doc
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For nearly 4 years now, the Fed, BIS, Bank of England, etc have moved heaven and earth, to heap burning coals upon silver investors, and have done the same to gold investors for 3 years. They’ve done everything in the book to dislodge us, to eradicate us, to dissuade us…And they’ve failed.
These people have done all of this, just to keep the Money Power a tiny space longer.
Let’s face it: 3 or 4 years, in the grand scheme of human history, is a blink, it’s nothing.
The central planners behind the massive con, and the international, monetary ponzi scheme, have bought another 1,000’ish days.
Then what do they do?
The Great Financial Tsunami, which nearly washed them all away in 2008 is still coming for them, and it is higher than ever.
The storm wall they’ve spent 5 years building, in order to protect themselves from the wrath of the coming storm, is laughably inadequate.
Submitted by The Wealth Watchman:
First of all, happy new year to all my shield brothers out there! All of you in this community have made this year such an amazing one for me, that I have to say, “thank you!” for it. As long as you keep sticking around, I’ll keep trying my best to patrol this wilderness of financial fraud, and fight for truth, beside you.
I know it’s been a difficult year for stackers in some ways, and a gift in others. Nevertheless, it is that time again, and as another year goes into the history books, and a new, living year is about to begin, I thought I’d take stock of where we’re at on the larger picture for gold and silver.
Now, unsurprisingly, both of our metals are somewhat down for the year, for the 2nd year straight, and it seems, for psychological reasons, that our enemy is keen to make both of them close red yet again, which suites me just fine!
The banksters haven’t stopped there though! They’ve ramped up the Dow Jones to its tip-toppiest, bubbliest high notes for the year, while every, single item in the commodity sector is being jack-hammered into the earth’s core. They’re bound and determined that inflation won’t show itself at this stage of the game.
Central banks are hell-bent on re-inflating the housing bubble, the debt bubble, the stock market bubble, the derivative bubble, all while sucking any and all metrics of true measurement of their wicked schemes, down into the deepest hole in the proverbial swamp.
In 2011, a memo went out in the central banking world, which continues to be their same blanket policy toward precious metal stackers today:
http://thewealthwatchman.com/wp-cont...1-1024x683.jpg
They’ve turned us upside down, and shaken the tree we’re on with a bulldozer! But we, being warriors all, have been hanging this way so long, that we actually prefer being upside down now!
http://thewealthwatchman.com/wp-cont...r-warriors.jpg
Traditionally, traders have had a saying: the market can stay irrational longer than you can stay solvent.
There’s a word for that phrase, which I can’t repeat, because there are ladies present, and because this is a family-friendly site! Turns out though, that phrase was a crock to begin with, because the entire time that folks thought it was the “market” staying irrational, it was usually the Fed and central banks throwing good money after bad.
A truer aphorism might be this:
The Fed can maintain its credit rating, longer than you can be right.
Yet, even after pumping their trillions, praising all their own handiwork, and “banging every close” with a Plunge Protection Team ramp in general equities, a roughly 9% gain is the best they’ve mustered all year on the Dow Jones.
It is all for naught! Every bubble finds its pin, every time, without fail!
There are no more markets, only interventions, as Chris Powell wryly observed. All this levitation isn’t the mystical creature, called “the market”. This is all insane, propagandistic, herding of the masses into the instruments they wish folks to be in, until they deem it time for the sheep to be fleeced. That’s all the “markets” have been for the past 100 years, ever since the Fed was established. End of story.
Despite all this, I couldn’t be happier about the prospects for stackers in 2015 and beyond, here’s a few reminders why!
India: The New Retirement Home For All Silver Everywhere
There’s no two ways about it, friends, what’s happening right now in India will leave ripples for years to come. I’ve long said that India is the key which will unlock magical things in the silver space, and gee heinnicky, but India has not disappointed!
Last year, they’d set a new record by importing roughly 6,000 metric tonnes of silver, which was over 190 million ounces. Impressive to say the least, but what they’ve done this year,especially in the last 3 months, has bested that total by far!
In fact, just when you think India can’t possibly top its silver stacking, they do, every time…
As strong as gold demand has been there(probably about 800 non-smuggled tonnes, year to date), their silver demand continues to break every record, everywhere! Indians are doing whatever it takes, to continue to buy ever larger tonnage figures of silver, with every blessed rupee note they possess:
http://thewealthwatchman.com/wp-cont...elda-Rupee.jpg
Doh, not that kinda rupee note, dagnabbit!
Ah well, you get the picture! You know that crazy, old lady, who checks the prices of every. single. item. at a yard sale, and then shops around in every other yard in the neighborhood….in order to save 25 cents?
Ok, great! Now picture about a billion of those little, old ladies, amplify it with the passion of someone who has a great zeal for sovereign, generational wealth, and voila, you’ve got India!Their peoples continue to be an informed, intelligent flock of buyers, who know a freaking bargain when they see one.
And they continue to see the mother of all bargains in silver!
They are buying so much bleeding silver, that in the past 3 months alone (December not included), they’ve bought over 100 million ounces of it!
100 million ounces! That’s 2.5 years’ worth of silver eagle production numbers, even at this record pace!
That’s roughly 1.2 million ounces per day! for the last 90!
Get your head around this: this means, that India alone, has bought more than 50% of all the silver that the earth has mined for the past 3 months straight. Every other ounce that anyone has brought from the earth, since Labor Day, is now safely in India’s hands.
Their stacking is so epic, that according to Reuters, they’ve sucked out mostly all of the City of London’s silver reserves which they’d spent the last several years storing up, and the word is that India has now had to go to China and Russia, in order to find someone with enough silver to sell to them!
If anything near this pace of stacking stays firm in December, then India looks set to import well over 7,000 tonnes of silver(half of which was stacked in the last 4 months of the year!).
Not half bad, huh?
http://thewealthwatchman.com/wp-cont...ver-Demand.png
Wanna know the best part about it all?
They did all this, with an average silver price of roughly $16.50! *laughs* This epic stacking didn’t start until silver broke under $18, it is bargain-buying at its best.
Imagine! Just imagine what India will do on a monthly or annual basis, if the banksters take silver down to $14 again….and keep it there, even for a month!
How about if they take it to $12?
Or to $10?
You see why I welcome these price assaults? This is crucial, and you must understand this right now: there is no doubt that the silver reserves that London had, would’ve been used for many months out, to rig silver even longer, but now that silver is mostly gone!
This is why we must embrace their attacks on the paper price, and help our Indian stacking comrades as much as we can, by throwing ourselves into the fray alongside them! The tide will soon turn, until that time we’ve got work to do, warriors!
China’s Golden Onslaught
China is also doing their part in this multi-pronged assault on the Barad-Dur of international, financial criminality! For though China has yet to fully realize the potential of the metal of their roots(silver), they are keen to drain the City of London of their gold. Make no mistake, the stacking there in just the last two years alone, has removed thousands of tonnes of extra gold from the Western, Central banks’ coffers. Eric Sprott has remarked before, that he believes there is perhaps a 4,000 tonne deficit in just a 4,000 tonne gold market!
In other words, in a world where roughly 4,000 tonnes is made available through mining, refining, and recycling, the world could be demanding as much as 8,000 tonnes per annum!
China, for the 2nd year running, has now stacked an incredible 2,000 tonnes of gold in just 12 months!
In fact, last summer some circles in mainstream news had prematurely said that China’s move to buy gold was a “one-off” in 2013, and had gone cold. Great call, genuises!
With one reporting week left, the demand figures there have now surpassed the 2,000 tonne mark, just out of Shanghai. As always, the intrepid Koos Jansen is on the case:
http://thewealthwatchman.com/wp-cont...014-Demand.png
Look at that last red spike on the right. A whole 60 tonnes of gold was demanded in just one week.
Put another way: the Chinese people people bought more than twice as much gold in one week, as the Comex has “available to deliver” to investors in its entire warehousing system!
Do you see? The Comex has long been irrelevant in the physical gold scene, and only continues to be relevant on the silver scene because it has to be! The Money Powers are out of luck and out of time, if they cease being able to deliver silver to everyone who wants it…for even a brief stint!
Very soon, at a time that China and the BRICS will choose(because they hold all the cards), they will do something which will yank pricing power on the precious metals scene, away from the City of London and New York, indefinitely.
Others have said this same thing, and I agree with those assessments. Nearly all the pieces seem to be in place. It is nearly time to go for the kill shot. If it goes down that way, then those who didn’t have all the phyzz they wanted or needed, will be priced out unless they agree to enter the market at much higher rates.
I won’t attempt to make a prediction as to when that will occur, as some have made the mistake of doing. Some notable folks have said that the BRICS will make their move by “X” date. Again, since no one knows how much gold the banking Dragon still possesses, it is utter folly to attempt to guess when the East will make their move. Our job is simply to properly allocate our resources, and prepare ourselves, our families, our friends, and anyone else who will listen, for this inevitability.
Conclusion
For nearly 4 years now, the Fed, BIS, Bank of England, etc have moved heaven and earth, to heap burning coals upon silver investors, and have done the same to gold investors for 3 years. They’ve done everything in the book to dislodge us, to eradicate us, to dissuade us…
And they’ve failed.
These people have done all of this, just to keep the Money Power a tiny space longer. Let’s face it, 3 or 4 years, in the grand scheme of human history, is a blink, it’s nothing.
The central planners behind the massive con, and the international, monetary ponzi scheme, have bought another 1,000’ish days. Could they buy a few hundred more?
Absolutely.
So what?
Then what do they do?
The Great Financial Tsunami, which nearly washed them all away in 2008 is still coming for them, and it is higher than ever. The storm wall they’ve spent 5 years building, in order to protect themselves from the wrath of the coming storm, is laughably inadequate.
Today, at the start of 2015, you can be sure that the Yellens, the Legardes, the Draghis are all popping $2,000 champagne, and congratulating themselves on being masters of the universe.
Which sure is funny…
Because I always pictured ancient king Belshazzar doing this exact same thing, literally moments before the dagger fell upon him and his “unbeatable kingdom”.
Forever.
http://thewealthwatchman.com/wp-cont...2-1024x521.jpg
http://www.silverdoctors.com/wealth-...rs/#more-49653
BO POLNY: Gold and Silver, a Parabolic Rise in 2015
Posted on January 12, 2015 by The Doc
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Paper has begun its collapse; it started with the Russian Ruble and will end with the US dollar. As paper collapses, Gold will rise and then go Parabolic!
All the world currencies are falling to Gold as Gold continues to expose the TRUTH of what is TRULY going on in the world of fiat paper vs. Gold!
The TRUTH is printing money leads to hyperinflation and much much higher prices in both Gold, and especially Silver as their respective ratio gets reset.
The TRUTH will set Gold & Silver free with a Parabolic rise in 2015!
Submitted by Bo Polny:
http://www.silverdoctors.com/wp-cont...5-918x1024.jpg
Paper has begun its collapse; it started with the Russian Ruble and will end with the US dollar. As paper collapses, Gold will rise and then go Parabolic!
In the November 2014 post (see LINK HERE) we discussed Gold’s performance vs. the yen as Japan turned on the printing press causing Gold to breakout to a new 1.5 year high relative the yen. Below in the 3-year weekly chart provided in November 2014:
http://www.silverdoctors.com/wp-cont...N-1024x450.jpg
What does the chart look like now, 7-weeks later? See below…
http://www.silverdoctors.com/wp-cont...N-1024x450.jpg
Aside from the Russian Ruble, the Gold in yen terms was the first of all the world currencies that broken out of the triangle formation and the breakout is now confirmed with 8 weeks OUTSIDE and ABOVE the triangle as illustrated above.
In the November 2014 post we also wrote, ‘as Gold in yen terms has broken the triangle, this breakout is soon to be followed by all the other currencies of the world.’
Well, since the breakout of Gold in yen terms 8-weeks ago; Gold has since broken out of the same respective triangles in terms of the Australian Dollar, British Pound, Swiss Franc, Canadian Dollar and last week broke out against the Euro! See chart below:
http://www.silverdoctors.com/wp-cont...O-1024x450.jpg
Look familiar? You bet it does! Have a look at the Gold in Yen terms chart from November 2014 above; Gold as of last weeks close is now at a new 1.5 year high relative the Euro just as it was relative the yen in November 2014. Gold in Euro terms is just a couple months behind the Gold in yen terms and Gold in Russian Ruble terms simply lead the race.
All the world currencies are falling to Gold as Gold continues to expose the TRUTH of what is TRULY going on in the world of fiat paper vs. Gold!
How does it end?
In a Parabolic Rise, as can clearly be illustrated with Gold priced in Russian rubles chart below:
http://www.silverdoctors.com/wp-cont..._GoldRUBLE.jpg
The TRUTH is printing money leads to hyperinflation and much much higher prices in both Gold, and especially Silver as their respective ratio gets reset.
The TRUTH will set Gold & Silver free with a Parabolic rise in 2015!
Gold has yet to complete its cycle high target of $2000 as referenced in the May 2014 New York Kitco Interview (see LiNK HERE). We need to wait a little long; but let’s not forget…patience is a virtue!
In last weeks update (see LINK HERE) we stated ‘despite Gold closing up Friday 1/2/2015 and the Miners closing on their highs, the rally that follows starting Monday 1/5/2015 will fail at $1220 (+/- $5.00), so do not get too excited just yet’. On Friday January 9, 2015 Gold closed at $1223.
There remain a few final and very important cycle TURNS in the Gold and Silver Market before a Parabolic Rise can be expected. As an exciting start to 2015, for those interested in a complimentary ‘Sneak Peek’ into Gold’s January Cycle TURNS please visit www.Gold2020Forecast.com.
Thank you and all the best in 2015,
Bo Polny
http://www.silverdoctors.com/bo-poln...-rise-in-2015/
Yes, currently, investors are bearish on silver, because of obvious reasons. But, supply demand factors, especially rising demand for the industrial purpose may turn the prices up by this year end.
I remember someone saying something similar every year for the last twelve years...Quote:
Originally Posted by ComputerYe
https://www.youtube.com/watch?v=w211KOQ5BMI