RANTING ANDY – Earlier, I highlighted CARTEL PHYSICAL CRISIS #5, when gold was attacked the morning of July 11th after:
- Euro gold broke out of a one-year HARD CAP by the Cartel, and
- U.S. gold threatened to break a multi-month HARD CAP at $1,550
That coordinated operation, per the chart below, failed within FIVE HOURS of commencement, with gold adding the insult of actually closing at the high of the day and likely PERMANENTLY leaving $1,550 behind as MASSIVE LONG-TERM SUPPORT.
At that point, per my favorite table below, the TIME INTERVAL BETWEEN Cartel CRISIS EVENTS had constricted to essentially ZERO, leading to the huge run-up in gold and silver in the first two weeks of July. This increase was boosted further on July 13th when Quivering Lip Bernanke stated that QE3 is on its way, and then July 15th when Sprott priced its $266 million (soon to be $305 million) offering of PHYS, its physical gold bullion trust.
Thus, when gold shot past $1,600 (and silver past $40) on Monday the 18th amidst heightened worries of the oncoming debt ceiling conflagration, the Cartel knew it had to try yet another orchestrated attack. Heck, last week the “Commercials” (i.e. the Gold Cartel) shorted more COMEX gold contracts than they had in ANY WEEK SINCE 2005, yet gold soared thereafter, creating the potential for an outbreak of gold/silver fever at any minute.
TIME INTERVAL BETWEEN EVENTS
|D-DAY||November 9, 2010||CARTEL PHYSICAL CRISIS #1||
|SUNDAY NIGHT PAPER SILVER MASSACRE||May 1, 2011||CARTEL PHYSICAL CRISIS #2||
|3:40 PM SILVER PRICE SMASH||June 1, 2011||CARTEL PHYSICAL CRISIS #3||
|OPERATION POST FED PM/OIL ANNIHILATION||June 23, 2011||CARTEL PHYSICAL CRISIS #4||
|GOLD BREAKS OUT IN EUROS – DESTROY IT NOW!||July 11, 2011||CARTEL PHYSICAL CRISIS #5||
|BERNANKE ADMITS QE3 COMING/PHYS OFFERING||July 13-18, 2011||CARTEL PHYSICAL CRISIS #6||
|DEBT CEILING CRISIS PM ATTACK||July 19, 2011||CARTEL PHYSICAL CRISIS #7||
Thus, when gold threatened to go PARABOLIC from the $1,610 level at EXACTLY 3 AM EST yesterday morning (what else is new?), they CAPPED the price hard, waiting in the wings for President Moron to give his press conference at 11:30 AM EST. When the great buffoon made his meaningless comments about “progress” in the debt talks (no specifics, of course, not to mention that there is no gold –negative outcome even possible), they ATTACKED with an incredible ferocity in the PAPER markets, even with all other commodities soaring.
By the time you blinked, gold had fallen nearly $30/oz and silver by nearly $2.50/oz., all with ABSOLUTELY NOTHING to account for it. Moreover, given that the attack was late in the day, gold had time to fester all night, with the Cartel PRAYING that somehow sentiment would turn negative due to gold’s inability to hold $1,600. LOL, EVERY SINGLE TIME in the past decade that gold hits a new ROUND NUMBER, it has been slaughtered by the Cartel within a day or two, and it always returns to those highs.
However, yet again the gold market showed an uncharacteristic ability to, within HOURS, rocket back up with just as little fanfare as always. Even leaders of the “good guys” like Tyler Durden at ZeroHedge couldn’t figure out why, instead making up comical reasons like “John Taylor of FX Concepts said gold will rise”.
LOL, who the hell is John Taylor? The Duran Duran guy?
This rise is purely a function of the PHYSICAL market catching up to the PAPER market, signaling the IMMINENT COLLAPSE OF THE GOLD CARTEL, just as the London Gold Pool (an OVERT gold suppression scheme) was finally overrun by demand in 1968.
As we speak, gold and silver are again knocking on the doors of $1,600 and $40, respectively, with the Cartel again attempting every PAPER manipulation scheme in its book to prevent this from happening. Most likely, gold will be looking back at $1,600 in very short order, and if not it will be “three taps and out” before the next MASSIVE UP LEG in the PM market in the coming months, or should I say the next MASSIVE DOWN LEG in worthless paper currencies such as the U.S. dollar, the Euro, and the Pound.
Oh, and by the way, have any of you seen the news below, that the Hong Kong Mercantile Exchange will commence trading of its first silver futures contract on FRIDAY, to be followed up later on with a gold contract?
Yep, now Asians can buy silver futures and subsequently take delivery in Asia, avoiding the CRIMEX where all the metal has been cleaned out yet its criminal accounting still pretends it’s there. Not to mention, once the contract starts to see increased volume, we will likely see some of the daily PRICING MECHANISM of gold/silver switch to Asia, ending the COMEX’s multi-decade monopoly.
This will be a HUGE positive for silver demand, and a HUGE negative for those trying to suppress the price.
All, once again I believe we have no more than THREE MONTHS before the impact of recent commodity price increases make their way into our daily lives, particularly with the upcoming increase in the U.S. debt limit and likely fall initiation of QE3 (not just in the U.S., but in all the Western world).
The time to PROTECT YOURSELF from hyperinflation is dwindling rapidly, and I think I’ve made it quite clear what you need to do to SURVIVE and THRIVE!