RANTING ANDY – Ranting Andy is tired.
As bullish about gold, and bearish about fiat currencies and the U.S. government as ever, but tired nonetheless from weeks, months, years of attacks on my net worth, my business (marketing mining companies), and my sanity.
I had no interest in writing on this holiday weekend, instituted to celebrate a time when an idealistic, moralistic America cherished the virtues of honesty, pragmatism, and a strong work ethic. But as the Gold Cartel and PPT step up their efforts to control markets in the face of their own, ruinous policy decisions, with little or no commentary anywhere about what they are doing (outside of GATA), I felt that readers might want a little comfort as they prepare for their BBQs and fireworks.
How ironic that independence from the “evil” British Empire has spawned an even more ruthless, amoral government, bent only on stealing your money and freedoms. “Bread and Circuses” rule the day in America, and will continue to do so until the dollar collapses completely, at which point government will not have the ability to print money for “bread”, nor will consumers have enough to even afford the “circuses” that are reality television today. The decline of American society, which started essentially when Nixon abandoned the gold standard in 1971, is ready to reach new depths, at which point I fear dangerous demagogues will appear, as they have over and over again throughout history.
In fact, a great example of this societal decline aired on the Jon Stewart show this week, a piece describing how the U.S. Supreme Court, supposedly the wisest men and woman in the land (LOL), decided their time was well-spent repealing a law limiting the ability of video game companies to market violent games to children. Watch this if you want to be sick to your stomach:
Since the Fed’s ill-fated June 22nd decision to continue with easy monetary policy ad infinitum, gold and silver have been viciously attacked each and every day, always at the same times of day that I have countlessly pointed out. As we have seen over and over again in the past, the Cartel heavily plans market manipulation activities around major economic events, and none has been as potentially market moving as this decision to end, or not to end, “Quantitative Easing.”
Anyone with half a brain knows they can never stop printing, as the economy continues to plummet, the real estate market to collapse, and sovereign nations (think Greece, Ireland, Spain) and municipalities (California, Minnesota, Illinois) around the world careen closer toward outright default. However, in a world where “market action makes commentary”, TPTB in Washington and on Wall Street know that if the Dow rises, and gold falls, the sheeple of the world will believe “everything’s all right”, and that the economy is “improving.”
Such planning for the June 22nd Fed rate decision included the aforementioned IEA oil sales, in which yet another U.S.-led Cartel decided to sell 4% of the world’s EMERGENCY oil reserves in a bid to knock prices down. I still remember the headlines on June 23rd about gold falling $30 due to the “deflationary impact” of the IEA sales. OK, so let’s see what’s happened in the ONE WEEK since that announcement.
Ah, it looks like oil has recovered ALL its losses, but for some reason gold has continued to plummet, now down more than $70 in a week for NO REASON AT ALL other than the Cartel’s devious naked shorting tactics.
Meanwhile, the Dow has somehow rocketed higher, while copper has leapt to within a dime of its ALL-TIME high. What happened to deflation (except of course in the prices of gold and silver?).
Can ANYONE look at what has happened in the past week and, with a straight face, say that gold and silver are NOT massively suppressed?
Can anyone read this brilliant report by Eric Sprott discussing how the PAPER silver market is completely detached with the reality of the REAL, physical silver market, and not see the same obvious result?
I guess that was a silly question, because the majority of the simpleton investment world not only doesn’t get it, but really has no interest in trying to do so. Even my favorite “good guy” (facetious) Peter Schiff fails to understand the markets he trades in, either purposefully or for some other unsavory motive. I love his quote this weekend that gold should go to more than $10,000, but he’s “surprised gold is as cheap as it is given all of the money we’ve already printed and the money we’re threatening to print.”
Surprised, huh? Surprised that gold never rises more than 1% in a day, while it has at least one major waterfall decline every day, and has traded down by 2%-3% in individual trading sessions dozens of times in the recent past? Surprised that gold lags all commodities when the “inflation trade” is on, but always leads them down when it is not? Surprised that gold historically has a NEGATIVE CORRELATION to the Dow, yet in recent years is ONLY allowed to rise when the Dow is rising? Surprised that the nonsensical Kitco HEADLINE on Friday was “Gold, Silver decline on weak oil, strong dollar” when in fact oil was UNCHANGED for the day and the dollar DOWN?
Believe it or not, I’ve seen such erroneous headlines about Precious Metals, not just on Kitco but mainstream news services dozens of times over the years, the reason of course being that gold and silver are constantly being attacked throughout the day in the paper market. Often, such headlines may make sense in terms of the rigged market action of the day, such as on Friday morning when oil futures were lower early in the morning, and the dollar index SLIGHTLY higher. Of course, when oil turned upward and the dollar downward, while gold and silver continued to be clocked, Kitco, Yahoo, and the like didn’t bother to change their now completely wrong headlines. Usually they are just lazy, but more often than not I’d bet they simply have no idea what to write given that the market action makes no sense.
Unless, of course, you know what’s REALLY going on in the 100% rigged financial markets, as those reading this likely do!
Anyhow, as noted earlier I had no real interest in writing this weekend, so I will keep it short. Gold and silver were attacked in the PAPER market in a planned scheme by the Cartel to get through the June 22nd Fed announcement without widespread fears of hyperinflation breaking out, and as always will fight their way back to new highs, being attacked every millisecond along the way, from the second Asian markets open on Sunday nights until the second they close on Friday afternoons.
They will be fought in the fall (recall “D-Day”), they will be fought in the spring (recall the “Sunday night paper silver massacre”), and they will be fought during the “summer doldrums”, a fallacy with only one factual basis behind it – the fact that less traders in the office makes it easier for the daily Cartel attacks to be successful.
But then one day, likely sooner rather than later (think 2H 2011, or 2012 the LATEST), the Cartel troops will be soundly defeated and destroyed for good, just as when the London Gold Pool blew up in 1968, starting gold’s launch toward a 25x price gain over the ensuing decade.
And when that day does come, if you do not own REAL, PHYSICAL gold and silver, FOOD, and OTHER ITEMS OF REAL VALUE, you will not have the opportunity to do so at reasonable prices, and in some cases not at ANY PRICES.
PROTECT YOURSELF, and do it NOW, as the fuse on the currency time bomb is about to run out!