In a world gone mad – mostly, due to a handful of sociopathic “one percenters” – here are some of the PiMBEEB reasons, from the past 24 hours alone, why I last week penned “the most Precious Metals bullish I’ve ever been.”
- In the words of Russian Prime Minister Dmitry Medvedev – former President, and current right-hand man to Vladimir Putin – regarding Congress’ insane decision to impose dramatic new economic sanctions on Russia, for reasons essentially no one understands; “the signing of new sanctions against Russia into law by the US president leads to several consequences. First, any hope of improving our relations with the new US administration is over. Second, the US just declared a full-fledged trade war on Russia. Third, the Trump administration demonstrated it is utterly powerless, and in the most humiliating manner transferred executive powers to Congress.”
- Following up on America’s unfathomably self-destructive foreign policy, Trump is this morning expected to deliver a speech denouncing China’s trade policies; in essence, igniting a potentially globally destructive trade war, that China has already vowed to retaliate against.
- In a series of moves telegraphing America’s intention to invade; atop the economic sanctions imposed in the aforementioned law, to not just Russia, but North Korea and Iran; the government ordered all U.S. citizens to leave North Korea by September 1st. This, mere hours after publishing a video displaying the capabilities of its Minuteman ICBM program.
- Escalating border tensions between nuclear-armed China and India, culminating in a Chinese Defense Ministry spokesman stating “the crossing of the mutually recognized national borders on the part of India… is a serious violation of China’s territory and runs against the international law“…and that “the determination and the willingness and the resolve of China to defend its sovereignty is indomitable, so it will safeguard its sovereignty and security interests at whatever cost.”
- Just one day after the Royal Bank of Australia’s “unexpectedly” uber-dovish policy statement – in which it “warned” of the dangers of a strengthening Aussie dollar; the Australian “black economy task force” proposed a variety of draconian “war on cash” measures – like inserting nanochips in paper currency and issuing currency “expiration dates” to prevent hoarding.
- Yet again, a major Central bank “unexpectedly” published an uber-dovish policy statement. In this case, the Bank of England – following yesterday’s RBA decision, and those of the Fed, BOJ, and ECB in the prior two weeks.
- This, as the Reserve Bank of India – “war on cash” and all – “unexpectedly” reduced interest rates last night, too.
- Incredibly, despite maniacal stock and bond market support by the PPT, Fed, and Exchange Stabilization Fund, it was reported that the average U.S. public pension fund returned just 0.6% in 2016, compared to the comically unattainable 7.5% “assumption” they cumulatively made.
- Now that the “repeal and replace” movement is dead and buried, the first 2018 Obamacare rate hike requests have come in from health insurance companies – featuring massive increases, of up to 30%.
- S. Commercial and Industrial loan generation plunged to its lowest year-over-year growth rate in six years – at barely above zero.
- Plunging interest rates that, with each passing day, makes my early January call that 2.5% would represent the top of the 10-year Treasury yield look that much more prescient.
- News that OPEC production again hit a new record high in July, six months after the fraudulent “production cut” concocted by the ad hoc “oil PPT” first commenced – which will only increase the dramatic deflationary trends Central banks are so terrified of.
- Last but not least, the dollar index is now down 9% in 2017, representing its worst first half of the year since 1985. Not an insignificant accomplishment, given how the Euro, Yen, and Pound are on the verge of being hyper-inflated into oblivion.
Consequently, the powers that be’s’ attempts to mask political, economic, and monetary collapse with market manipulation have gone parabolic – to the point that quite soon, the entire world will realize what’s going on, and “invest accordingly.” As at some point, “dotcom valuations in a Great Depression Era” and Precious Metals trading at their “lowest ever inflation-adjusted prices” must revert to the mean, no matter how much manipulation is utilized to prevent this inevitability.
I’ve been forced by one of the gold Cartel’s most egregious, “in your face” attacks in history – which most probably don’t realize, given that as I write just after the COMEX open, both gold and silver prices have moved back into the black. Which was, this “flash crash” last night at 7:06 PM EST. Followed of course, by a similar “flash crash” at the time-tested “2:15 AM” hour (when London “pre-market” paper trading commences), for the 884th time in the past 1,009 trading days.
Regarding the former, it comes one day after a similar, but less dramatic, “flash crash” at that same time stamp, 7:06 PM EST, in the ultra-thinly traded New York “Globex” market. Which just happened to be the exact time of the July 6th “flash crash” as well; when, for no reason, silver plunged 10% in seconds, via a “coincidence that yesterday, Zero Hedge called out in an article titled “what is it about 7:06 PM EST that spooks Precious Metal traders.”
Well, just one day later – following yet another day of horrific economic data and plunging interest rates, guess what happened at exactly 7:06 PM EST? Yep, the aforementioned “flash crash” – this time in gold, although silver certainly “participated” in the subsequent price weakness as well.
As long-time readers know, I have published more proof of Precious Metals manipulation than essentially anyone – per the list of articles dedicated to specific manipulation tactics in January’s “12:00 PM EST cap of last resort.” In fact, the 300+ “manipulation primers” I penned in 2011-12 – which I can email upon request – comprise essentially every day of trading over a multi-year period.
However, the one “manipulation tactic” I have not yet formally discussed is the “8:00 PM algo”; which, for as long as I can remember, has “showed” up to push prices down on at least 25% of all trading days; whilst of course, NEVER occur in the opposite direction. The fact that the past month has seen three such attacks at 7:06 PM – including the last two days – despite having been called out by Zero Hedge for doing the same thing the very day before; simply means the Cartel’s hubris has reached unprecedented heights. This, at a time when physical demand – particularly in the East – is soaring; mine production is set to plunge for years to come; above-ground, available-for-sale inventories are down to “fumes”; and of course, Central bank money printing – already at a cumulative all-time high – is poised to turn hyperbolic, as the malignant terminal phase of history’s largest, most destructive fiat Ponzi scheme races to its conclusion. “Aided and abetted,” I might add, by the crypto-currency revolution that in my view, is the most positive development for the Precious Metal market in decades. As ultimately, I believe Precious Metals and Bitcoin will together, act as the “twin destroyers of the fiat regime” – as going forward, monetary value will unquestionably be dominated by decentralized, non-government-controlled assets.
Again, the reason I spend so much time proving market manipulation – particularly in Precious Metals – is to empower you to make investment decisions based not on the fraud and propaganda the “evil Troika” of Washington, Wall Street, and the MSM perpetrates and propagates, but the reality that prices have been unduly manipulated – in all markets – to levels further from their “equilibrium values” than at any time in history. Which is why, again, I emphasize that this is the “most Precious Metal bullish I’ve ever been.”