RANTING ANDY – It looks like the culmination of 40 years of stupidity and corruption is indeed commencing NOW, just as the “summer doldrums” come to their end (a summer in which the average global stock market declined 30%). Gold has passed $1,900 no less than six times in the past 24 hours, reaching an ALL-TIME HIGH of $1,920/oz (closer to $2,100/oz in the REAL, PHYSICAL world) at 4 AM EST, before yet another Cartel smash.
DESPITE yet another gold margin increase, this time announced by the Shanghai Exchange Friday afternoon, gold spent the entirety of Monday at or above $1,900/oz, as well as the entirety of Asian trading hours there as well. The DESPERATION of the TPTB is TANGIBLE, like a thick fog blanketing the markets, as they KNOW that the whole system can (and WILL) collapse at any moment. In fact, just minutes ago the Swiss government effectively PEGGED the Franc to the Euro in an insane attempt to debase the last remaining “strong” currency (http://www.zerohedge.com/news/swiss-franc-collapses-7-swiss-national-bank-fix-chf-eur-and-debase-currency), and the PPT is DESPERATELY trying to hold Dow Futures above the seemingly magical ROUND NUMBER of 11,000, representing just a 2% decline compared to the 6% decline we have seen in Europe.
The aforementioned gold smackdown, as noted above, occurred AFTER TWO FULL DAYS of Asian trading above $1,900, with the CARTEL attacking viciously with a nearly $50/oz hit in ONE MINUTE, and roughly $1.30/oz for silver during that same brief moment.
In fact, I can only remember a hit so vicious during the SUNDAY NIGHT PAPER SILVER MASSACRE on May 1st, when silver was hit for $6 in the first 13 minutes of SUNDAY night Asian trading, whilst China slept in for a holiday.
That attack failed within months, but each successive attack has failed nearly instantaneously, as I believe this one will as well. We have reached “Manipulation Saturation”, which will unmercifully run over the Cartel (and possibly the PPT) this Fall.