Hey, I never said it would be easy; and fighting for financial survival, in a dangerous world where the “powers that be” want us dead – or more aptly put, destitute – is the most difficult task I have ever faced. Thankfully, 14 years of experience, hard work, and perseverance have enabled me to survive the Cartel’s “best shots.” However, the sum total of the stress I, and many of you, have endured – not just from manipulated markets, but broadly speaking, the horrific ramifications of history’s largest, most destructive fiat Ponzi scheme, is difficult to conceive.
Frankly, I’m not sure exactly what I’m “rooting” for anymore – although I assure you, it’s not Armageddon, financially or otherwise. No, like you, I simply want to be rewarded for hard work, foresight, and prudence – which in this case, involves higher Precious Metal prices. The fact that I know they will rise as the fiat Ponzi inevitably implodes certainly helps me sleep at night – as does the fact that I long ago eschewed speculative “paper PM investments” for actual, physical metal. However, it doesn’t make it any easier to stomach the daily machinations of a handful of sociopaths, attempting to destroy my pursuit of life, liberty, and the pursuit of happiness.
Honestly, I could write a half dozen separate, impactful articles regarding various “horrible headlines” of this morning alone; each, connoting a powerful, PM-bullish message. Such as…
- The official suspension of Brazilian President Dilma Rousseff, as her impeachment hearings commence
- Yesterday’s “worst day in five years” for U.S. retail stocks – as bellwether Macy’s, yet again, dramatically reduced its revenue and earnings outlook
- The massive, “unexpected” write-off at one of Italy’s largest banks, Banco Popular, suggesting the newly created “Atlas” bailout fund will be imminently depleted
- The firestorm of political and social revolt – both inside and outside Greece – following its Parliament’s shameful acceptance of additional “austerity” measures, in exchange for “bailout” funds to be sent directly to European banks
- Exploding “migrancy crisis” issues throughout Europe
- This morning’s Bank of England meeting, in which – following Prime Minister Cameron a day before – its “governors” warned of all-out political, economic, and financial market chaos if June 23rd’s “Brexit” referendum passes. Which, I might add, current polls suggest is likely.
- This morning’s horrific, “unexpected” surge in – say it ain’t so – “weekly jobless claims, from 257,000 two weeks ago to 294,000 today; i.e., the biggest jump in 11 years, to a 15-month high
- Yesterday’s explosive 10-year Treasury auction; as, following Friday’s “Fed-killing” jobs report, yields have plunged in anticipation of QE4
- An article in China’s government-run “People Daily” newspaper, warning that the nation has too much debt!
- Bank of Japan Governor Haruhiko Kuroda, I kid you not, espousing that “low interest rates for a long time may cause issues”
- The biggest North American silver supply deficit on record
- The fact that the Sprott closed-end gold fund – ticker PHYS – has seen its premium to net asset value surge to 1.6%; i.e., its highest since March 2013, just before the “alternative currencies destruction” paper raids that launched the final leg of the four-year PM “bear market.” Like Sprott’s silver fund, PSLV – whose April 7th secondary offering delivered a “major, major blow to the Cartel,” I expect PSLV to be in a position to deal an equally devastating “head shot” when its premium rises a few more percent.
Or I could give a deep, detailed analysis of the Cartel’s desperate attempts to cap yesterday’s “unanticipated” Precious Metals surge; let alone, its all-out attacks in the late night “Globex” market; at the usual “2:15 AM” EST, and thereafter – to try to quash exploding PM sentiment. Which, I might add, are failing as I write at just before 10:00 AM EST, as the reality of a raging bull market yet again trumps their best manipulative efforts
But alas, I only have so much “bandwidth” – time-wise, space-wise, and mentally. Plus, between the three podcasts I taped yesterday, with another scheduled for later this morning (all of which will be posted on the blog imminently), those, and many other topics, will be amply covered. Thus, I’m simply going to focus on a new, extremely meaningful peace of the increasingly complete global monetary puzzle. Or, as I like to refer to it, a “mosaic” of transformational change. Which is, not only Goldman Sachs covering its ill-fated February “short gold” recommendation (at $1,205/oz, with a $1,000/oz price target) with massive losses to its heavily leveraged clients, but JP Morgan, yesterday afternoon, overtly predicting a “new and very long bull market for gold.” I mean, this is the Cartel’s “Managing Director” saying this – from, no less, its “Global Head of Fixed Income, Currencies, and Commodities!”
Yes, I know. Perhaps they have an “angle” to trick people into believing they have changed their stripes. And perhaps, said “Global Head of Fixed Income, Currencies, and Commodities” doesn’t require compliance review of her comments – but is instead, speaking off the cuff. But frankly, as Mona Lisa Vito – i.e, Marisa Tomei’s character in My Cousin Vinnie – so eloquently stated in court, such defenses don’t hold water. Particularly if, per Ted Butler’s analysis, JP Morgan has in fact built the world’s largest physical silver position – and who knows how much gold as well. In other words, there’s not a chance in hell they’d allow one of their top analysts to spout such provocatively bullish comments about its mortal enemy in the currency wars – unless they, like Goldman Sachs, weren’t, like rats on a sinking ship, “scurrying for the exits.”
And by the way, it wasn’t a singular, flippant comment; but instead, a an all-out barrage of violently pro-gold statements – on a CNBC interview, no less – such as…
- “With so many negative interest rate policies around the world, gold will continue to be bought as an alternative currency.”
- “With expectations that investors will seek to hedge against volatility, gold will be attractive in a world where bonds may cease to be the main risk-off asset.”
- “Central Banks may consider diversifying their reserves [as they anticipate] negative rates on existing holdings.”
- “Gold is a great portfolio hedge in an environment where sovereign bonds yields are historically low.”
- “As a non-yielding asset with a minimal storage cost, it actually has a positive carry relative to negative-yielding assets.”
- “$1,400 is very much in the cards this year.”
I mean, these are some major Cartel-damning statements, coming from the Cartel’s de facto leader; which frankly, could just as easily have been written by the Miles Franklin Blog! Which I assure you, is no accident – as whether they like it or not (they don’t), gold is in the early stages of the “very long” bull market JP Morgan suggests. And, like Goldman Sachs, the last thing they want is to be publicly seen as bearish, as prices of gold, silver, and platinum soar to unprecedented levels. To wit, I last week wrote of how “manipulation is going mainstream, as the powers that be turn on each other.” And no better example of such rats “scurrying for the exits” can be seen than here. Which, given the political, economic, and social firestorm that’s rapidly spreading across the globe, should be viewed as a blaring red signal for you to protect yourself with real money, whilst you still can!
P.S. Oh yeah, don’t said “commercials” have RECORD-HIGH NAKED SHORT POSITIONS IN COMEX GOLD AND SILVER? Gee, I wonder if my “contrarian” views that the “COTs no longer matter,” or that I shouldn’t be “scared half to death,” as “it’s the ‘commercials’ that should be scared,” “hold any water” as well.