It’s late Friday afternoon – and after “Cliff High’s” prediction Wednesday that a “late afternoon” event would prompt an explosion of gold, silver, and Bitcoin this weekend, it’s difficult to not pay attention. Whether he’s “right” or not, we’ll see soon, whether due to an actual proprietary forecasting method or pure luck. As quite obviously, Precious Metal fundamentals are already so strong, they simply need a “match” to light the proverbial fuse. Which is why, last weekend, I essentially “called” the Cartel’s imminent demise – a call made far stronger by today’s COT report, released at 3:30 PM EST, showing COMEX “commercials” barely covered any of their record gold short position as of last Tuesday, and took their record silver short to a new, “off the charts” high. Which will surely grow much higher next week, if what just occurred an hour ago – causing gold, silver, and Bitcoin to surge in the thinly-traded post-NYSE hours – can’t be “managed” by Sunday night. Trust me, this never happens on a Friday night – much less, any night. And certainly, not lately, with the Cartel already on death’s door, as “Economic Mother Nature” and the “unstoppable tsunami of reality” bear down on it.
I could write of dozen different “PM-bullish, everything-else-bearish” topics – from the imminent collapse of the Italian banking system; the heavily destabilizing – and likely, violent ramifications of yesterday’s French terrorist attack; the explosion of corporate bond defaults, to a pace above the 2009 post-crisis level; plunging Chinese investment and trade activity; surging global oil supply; plunging UK real estate prices; the redacted 9/11 report pages suggesting the Saudi government may have been involved; “Maestro” Greenspan, a week after calling for a return to the gold standard, calling the Euro currency a “failure”; a surging U.S. inventory-to-sales ratio; the “core CPI” the Fed fears so much remaining stubbornly above its 2.0% target, amidst a collapsing global economy; the soon-to-collapse Indian government procuring essentially zero gold in its ill-begotten “gold monetization scheme”; to the Bank of England’s Chief Economist not only promising to act “promptly as well as muscularly” at its August meeting, to “stimulate” the UK economy.
However, today’s “main event” is clearly the military coup attempt – and resulting martial law declaration – occurring as I write in Turkey; which may or may not succeed, but will clearly turn what is already one of the world’s most dangerous geopolitical hotspots into a “black swan ground zero,” which could easily destabilize not only financial markets, but the entire European, Middle Eastern, and Asian political landscape. This is clearly why Precious Metals surged in the post-NYSE “aftermarket,” and why Monday could be an historic trading day, if the situation isn’t “fixed” by then. Heck, it may well be anyway – as the way I see it, the entire powers-that-be scheme to hold together a collapsing monetary system with smoke, mirrors, and unprecedented market manipulation is on the verge of implosion. And given my view that the gold and silver Cartel is on its last legs already, it wouldn’t take much for a chain reaction, resulting in the inevitable “end game” of global currency collapse, to spontaneously commence.
I cannot claim to be an expert in Turkish geopolitics. However, given its significant role in the exploding European immigration crisis – which will worsen exponentially following yesterday’s French terror attack – it’s difficult to believe markets will not start to really fear that the European Union, and Euro currency, are not in imminent danger. Let alone, Turkey’s delicate geopolitical role in the ISIS crisis, bordering Syria, Iraq, and Iran. Not to mention, its control of the Straits of Bosphorus, one of the world’s most important sea trade routes – and Russia’s only warm water transportation route. Throw in the fact that Turkey’s President, Recep Erdoğan, is perhaps the most psychotic, megalomaniacal dictator outside Kim Jong-Il, and the possibilities for dramatic, destabilizing geopolitical changes are endless. This, in a world already on the precipice of economic collapse, where political and social revolutions are literally exploding. Heck, by the time next weekend rolls around, we may well be speaking similarly of the Republican convention – which I hope and pray, for the sake of America, goes without a hitch, with Donald Trump rightfully claiming the nomination.
With global financial markets having been pushed to their most egregiously overvalued levels in history – whilst gold and silver, conversely, have been suppressed to their most undervalued levels in modern times – the chances that Turkey, France, or even the Republican Convention prove to be the spark that ignites the power keg, have never been higher. Which is why, more than ever, we implore you to PROTECT YOURSELF, and DO IT NOW!
Andy Hoffman, Andy are we approaching world war three?