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It’s Tuesday morning – and I again ask the question, amidst the raging global Precious Metals bull market that Wall Street, and most Western investors, fail to acknowledge.  Which is, “hey Cartel, is that the best you’ve got?”  This, after yesterday’s most blatant – and embarrassingly desperate – Cartel raid yet.  This time, following a weekend in which headlines were dominated by the explosive “Brexit” and “Grexit” situations; and a morning featuring first, a horrifying Empire State Manufacturing Index plunge; and then, “unexpected” Housing Market Index weakness.

When, at the historic “key attack time #1” of 10:00 AM EST – when the global physical market closes; with no market materially budging (whilst the PPT executed its usual “dead ringer” support of the “Dow Jones Propaganda Average”; as Zero Hedge put it, “someone” dumped (i.e, naked shorted) $2.3 billion of “paper gold.”  Gold, which had again surged toward the Cartel’s current “line in the sand” of $1,300/oz, was slammed down to the low $1,270s; whilst silver, which had surged toward its own “line in the sand” at $17.50/oz, was smashed to the low $17s, in a matter of minutes.

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Yes, the “powers that be” actually think people are too dumb to realize what’s going on; particularly after Deutsche Bank admitted that it, along with a group of “too big to fail” banks, has suppressed PM prices for 15 years.  Yes, Deutsche Bank; the largest bank in Europe; battling with JP Morgan for the title of world’s largest derivatives purveyor on the planet.  A company in such deep financial trouble, it is offering 5% yields for three-month Certificates of Deposit, amidst a financial environment in which it can theoretically receive all the negative-yielding loans it needs from the ECB.

This morning, the news didn’t get any better.  Starting in the UK; where, following my article yesterday of how PM-bullish a “Brexit” vote would be, the latest online poll showed “Brexit” leading “BrEmain” by 47% to 43%.  Or here in America, where four states have now submitted 2017 Obamacare cost proposals – featuring 18%-27% premium increases, and soaring deductibles.  Heck, even head MSM lackey Bloomberg published an article titled “Central banks’ wisdom faulted, as gold holdings increase 25%” – claiming “the great gold rush of 2016 is gathering pace,” citing surging institutional interest in Precious Metal ETFs, and the suddenly bullish stance of long-time Cartel members gold bears Goldman Sachs and JP Morgan.  And of course, the 13F filings of famous investors like Stanley Druckenmiller and George Soros, depicting enormous “paper PM investments.”

Apparently, $2.3 billion of naked paper gold shorting, or 2% of global annual production – atop an already record-high short position (in silver, too), doesn’t buy much “smashing” these days.  As amidst said bull market conditions, the “half-life” of such attacks is far shorter, and less intense.  To wit, after yet another “2:15 AM” EST raid pushed gold from $1,280 down to $1,270 last night, it’s back up to $1,274 as I speak.  Which, relative to its 2016 trading range of $1,060 to $1,303, is in its “88% percentile” (and silver, at $17.16/oz, “80%”).  The reason being, of course, that we are in a bull market – in which the Cartel can “huff and puff” all it wants, but will be unable to stop the rampaging PM locomotive.

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To that end, the amazing thing about propaganda, per Joseph Goebbels’ famous quote, “if you repeat a lie often enough, people will believe it, and even you will come to believe it,” is that long after it’s been disproven, people still have a difficult time accepting the truth.  For instance, investors have spent the past three years listening to propaganda of gold falling due to “fears of a Fed rate hikes” – despite not only said “rate hikes” not occurring (with money markets now predicting no such actions until mid-2017); nor any historical evidence supporting such a relationship; but, when the Fed actually raised rates by 25 points – in a non-fundamental driven, blatant “face saving” move – gold prices promptly rocketed higher.

Today, investors are still trying to grapple with such “cognitive dissonance,” whilst trying to comprehend years of propaganda of free markets, in the face of Deutsche Bank’s landmark manipulation admission.  Let alone, the blizzard of additional propaganda – like April’s, LOL, “surging retail sales” – layering one lie atop the other; to the point that it’s difficult to discern truth anymore.  That said, even “old saws” like gold being a bad investment because “it has no yield” are being turned upside down, now that the vast majority of global sovereign bonds have negative yields.  Consequently, it’s easy to see how the “mis-educated,” feeble minded, or compromised can have trouble grasping a bull market in the number one “enemy asset class,” Precious Metals.

That said, it’s getting more difficult each day to ignore reality – particularly when, on average, gold prices are near, at, or significantly above previous all-time highs in nearly all global currencies.  Let alone, when the equivalent of “Sasquatch’s footsteps” are visible for the world to see – such as, for instance, anti-gold lackeys JP Morgan and Goldman Sachs becoming card-carrying gold bulls.  Or the blatancy of the aforementioned Cartel raids.  Or better yet, this week’s incredible news that China’s largest bank, ICBC (Industrial and Commercial Bank of China) followed up its January purchase of, LOL, Deutsche Bank’s 1,500 tonne London gold vault with the purchase of Barclay’s 2,000 tonne London gold vault.  This, three years after China’s largest conglomerate bought the Chase Manhattan building in downtown New York City, which sits atop the world’s largest gold vault.

As Zero Hedge puts it, “China’s largest bank is quietly cornering the London physical gold market”; as if you believe such purchases, for piddling prices in the tens of millions of pounds, don’t include some – or all – of the gold inside them, I’ve got a bridge in Brooklyn to sell you.  How much, we’ll never know.  However, given China’s massive, overt buying of physical gold; and likely, far more covertly; let alone, exploding “open interest” at “paper exchanges” like the COMEX, where “someone” is clearly on the hook for massive delivery requirements; it was only a matter of time before some sort of “settlement mechanism” came to light.  Yes, I know, this is rank speculation – which no one hates more than me.  However, when putting such data into any logical person’s “mosaic,” it’s difficult to not see events like the JP Morgan buy recommendation, and Chinese “cornering of the London physical market,” as anything other than “Sasquatch footsteps.”

In this case, said “Sasquatch” is the giant pink elephant in the room, of the raging Precious Metals bull market that few want to see, despite it sitting right on front of their noses.  Which hopefully you, as the handful of people wise enough to seek out truth-telling media like the Miles Franklin Blog, will capitalize on, to PROTECT yourself from what’s coming.