I’m not writing today but I dug up a few short and interesting articles for you to read.
Be sure and watch the following two short videos below.
Up first is an interview with Charles Nenner in Jim Sinclair’s section below. They explain why they are so bullish on gold and silver and so bearish on the stock market. These folks have been very accurate in the past on their gold calls.
Also, be sure and watch the Egon von Greyerz video in the GATA section. There is a discussion of Andrew Maguire’s stunning revelation that two whistleblowers, former employees of JPMorgan, have come forward implicating JPMorgan in the manipulation of the gold and silver markets.
If proven true, this is explosive! Read the following below from Ted Butler, who has been writing about the JPMorgan (illegal but so far allowed) corner of the gold and silver market. If you want to know what is going on with silver, subscribe to Butler Research.
I know that some have questioned how it could be possible for gold to decline so much in price if JPMorgan held a long market corner. The answer is clear, once you remember that prices only fall sharply in order to enable JPMorgan to buy. Near the bottom in gold prices at $1200, JPMorgan was long 85,000 contracts. On the subsequent $250 rally, JPM sold off and close out nearly 30,000 contracts of their long gold market corner, booking and realizing $350 million in profits. Now JPMorgan has decided to buy more and has cratered gold prices by more than $100 in order to re-buy as many new gold contracts as they can. JPMorgan is not concerned that the market may have temporarily gone against their existing gold corner as they continue to buy as many contracts as possible. JPM wouldn’t have any problem in meeting margin calls as it is presently structured; because it rests upon unlimited funding. When you look back at this year, it is crystal clear that JPMorgan made $3 billion in buying back big short positions in gold and silver and actually flipping their short corner in COMEX gold to a long corner that they’ve already milked for a $350 million profit recently and so far.
– Ted Butler, September 13, 2013
I also grabbed of few of the highlights from Zero Hedge (The Best And Worst Performing Assets Since Lehman Are…) Bix Weir (Bart Chilton Speaks to Congress) and Richard Russell (I Suspect That Silver Is Readying Itself For a Push To The Upside).
Couple this information with the regular articles from Bill Holter and Andy Hoffman, in today’s newsletter, and your time will be well spent.
Posted at 1:35 PM (CST) by Jim Sinclair
Dr. Nenner has been very accurate in gold so listening to his views is worthwhile.
My job, among many others, is to get you resources beyond me and the good ole gang.
Please give this serious consideration where gold, silver, stock markets, the US Treasury bond market and the US dollar are concerned.
Charles Nenner Research discusses the Gold Cycle
AUGUST 13, 2013
Charles Nenner research has the dollar going down for years soon, Gold and Silver Prices to move past its recent highs soon.
Posted September 13th, 2013 at 12:42 PM (CST) by Jim Sinclair
BofA: If The American Economy Doesn’t Accelerate Soon, It NEVER Will
Matthew Boesler Sep. 13, 2013, 9:20 AM
BofA Merrill Lynch chief investment strategist Michael Hartnett – the one who coined the term “Great Rotation” – takes a gloomy view of the future in his latest note to clients:
The Next 5 Years: Curb Your Enthusiasm
Significant monetary stimulus, the end of fiscal austerity, a booming housing market, a cheap dollar, record corporate cash balances…if the US economy does not significantly accelerate in coming quarters, it never will. We assume it will, and favor assets (e.g. equities), sectors (e.g. banks) and markets (e.g. Europe) that have lagged in the “High Liquidity-Low Growth” world of recent years.
Asset price will not do as well in the next 5 years, no matter what the “nouveau bulls” say. Central banks will be less generous, corporations less selfish. And when excess liquidity is removed it will get “CRASHy”. The dollar and (temporarily) volatility will be the last assets to surge as Deleveraging ends and an era of Normalization begins.
In short, don’t expect stocks to go on an awesome tear over the next few years as they have in the past few years, beware of a market crash, and watch developments in the U.S. economy closely.
Below is the article from GATA:
Submitted by cpowell on Sat, 2013-09-14 00:36
Dear Friend of GATA and Gold:
Gold fund manager Egon von Greyerz, writing tonight for King World News, finds terribly significant and even market-moving today’s KWN interview with London metals trader Andrew Maguire about two JPMorgan Chase employees who have disclosed the bank’s metals market rigging to the U.S. Commodity Futures Trading Commission:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.