There’s nothing normal about today’s financial world; in my view, the most corrupt of ALL TIME. Clearly, technology and deregulation are the main causes – as the “financial engineering” and “TBTF” bank culture following repeal of the Glass-Steagall Act in 1999 has enabled bankers to commandeer financial markets. Fortunately, they still can’t manufacture PHYSICAL gold and silver; but they sure as heck can produce unlimited shares of miners, ETFs, and other derivative products – as well as unlimited funds to purchase stocks, bonds, and other “favorable” asset classes.
This is why gold suddenly ran into a 600,000 ounce sell order at the COMEX open – just after MASSIVELY PM-bullish jobless claims data emerged; why a justifiably tanking Treasury market suddenly saw “blistering demand” for its most risky asset; or why, at EXACTLY 3:00 PM EST, stocks suddenly exploded higher, while gold and silver – sitting just below their currently “lines in the sand” at $1,300/oz. and $22/oz., respectively – suddenly plunged…
Yes, today’s virulent version of “normalcy bias” is killing quadrillions of brain cells; including the few that still remain in the mainstream investing world. “William Kaye,” a portfolio manager that King World News seems to support, for spouting the same portfolio manager drivels. First of all, he didn’t “predict” gold takedowns any more than I have a thousand times before. And secondly, in referring to gold as an “investment” – rather than money – he is scaring people from PROTECTING themselves from the inevitable collapse of the global fiat Ponzi scheme.
He is 100% correct in that “people who position themselves at prices such as we are seeing today are going to be extremely happy.” That is, if “happiness” is measured by the price of gold. I ASSURE you, when the Cartel starts to lose control – and prices soar – it will NOT be because of a favorable “investment climate”; but instead, the beginning of a terrifying END GAME yielding significantly lower standards of living and draconian government actions. Thus, I urge you to NOT succumb to the “abnormal normalcy bias” infecting the majority of global denizens. Think for yourself, and make decisions your gut tells you are right. Most importantly, make them before it’s too late.