Under our new format, I have been doing less writing of the day to day noise that is Cartel manipulation of financial markets; but particularly, gold and silver. However, this week’s “action” – Wednesday’s +$55 gold day not withstanding – is easily the most egregious I have EVER witnessed; attesting to just how desperate TPTB are to prevent the inevitable, perhaps imminent, demise of their dying fiat regime. To wit, PMs have now been attacked by “THE 2:15 AM” algorithm on an incredible 80 of the past 89 trading days – including 14 of the past 15 days despite PM prices being essentially unchanged over the latter period. Even on Wednesday – gold’s best up day in nearly five years – PMs were viciously attacked early on, leaving them at steep losses until just before the FOMC announcement; while in yesterday’s follow-up action, they did everything in their power to enforce their long-standing rule that “all great PM days must be followed by horrible ones” (ultimately failing, but not for lack of trying).
As you can see below, they drew a “line in the sand” at $1,370/oz. and maniacally defended it all day –at the “KEY ATTACK TIMES” of 3:00 AM EST; 8:20 AM EST, the 12:00 PM EST “cap of last resort”; and the 2:00 PM EST “CRYBABY ATTACK” when all else failed. Heck, by 2:00 PM EST they had naked shorted the HUI index to a whopping 5% loss despite gold and silver prices having been unchanged; i.e., the oldest sentiment-sapping trick in their book – yet again, demonstrating why long ago I gave up on mining stocks in lieu of PHYSICAL gold and silver. And now this morning, with not a creature stirring in any of the world’s “post no taper” financial markets, the 2:15 AM again returned to attempt to set the tone; although, have no worries, the day is yet young…
Remember, I show you this “seedy underbelly” of the financial world to empower you to make the right investment choices. This summer’s PM price suppression is the most blatant and industry-damaging in history; and consequently, gold and silver prices – according to my calculations – have become cheaper than at any time in our lifetimes – simultaneous with an investment climate in which they will have MAXIMUM UTILITY!