The Grandich Letter
London Bombings Should Sadly Change the Investing Landscape
....Gold � I have not been a card-carrying member of the "gold is manipulated" fringe group within the metals and mining industry. This is not to say I do not respect what they have to say. But after Friday�s trading pattern on the Comex and the opening today, I think I will be contacting them for an application.
Now in my third decade of following the gold market, I believe Friday�s trading on the Comex was a "planned" bear raid and not a random coincidence of factors that led to an $8+ decline. With a major holiday weekend upon us, and extremely ill-liquid trading environment, gold suddenly tanked. You can search until the cows come home and not find any legitimate fundamental factor that could have even remotely led longs to suddenly want to liquidate their positions. The fact that this occurred as gold was approaching levels that could have led to a break out on the upside, well???????
Any doubt that there is someone (or a group) currently attempting to get Comex gold prices lower for reasons that the gold manipulation crowd have repeatedly stated for a long time now, left my body this morning. Minutes before gold is setto open on the Comex this morning, it begins to fall and is heavily sold as soon as the bell rings. Did any of the news change that led to the rise just minutes and hours before? Why at 7:20AM EST does the gold community believe gold deserves to be up $5 but in just one hour (and no new news) do players on the Comex hit the ground selling hard and lead gold to be up less than a buck?????..
I recommend _Johnny Got His Gun_ but the book is ten times better than the movie. That is, if you could find a decent copy of the movie for under $50. Last time I checked it was still out of print.
It's much shorter than _Atlas Shrugged_. In fact it may be about as long as one chapter of _Atlas_. LOL.
JGHG is on the banned book list also. Good stuff.
It's more than just in the name of Allah, unfortunately....
But there's a real difference between 'religion' and really knowing God, which comes thru Christ.
Those who do, don't do the things you mentioned. That's why the world has been changing ever since Christ came 2000+ years ago ! He began the change to human beings that up until that time had always exhibited wars and violence of many kinds, etc...
When you read in the gospels how He changed and transformed peoples' lives...instantly...it get's exciting, because it's still happening today all over the world and here in America ! The world is changing, one person at a time, including Christians !
It's still early, but more and more folks are catching on.....
My dad is a WWII veteran and I was mentioning that gold and silver investments are the best thing going right now unless they confiscate gold again like they did under Roosavelt. His response made me do a double take. He said, "It's about time to go get a gun."
And this from mainstream media:
NEW YORK, July 7 (Reuters) - Traders and analysts on Thursday dismissed a gold group's claim that European central banks suppressed gold prices on moves above $440 an ounce, saying instead the market routinely sees selling above that level as it is at the top of a recent trading range.
According to a statement by the Gold Anti-Trust Action Committee on Thursday, the precious metal has been capped at $440 since last December by repeated selling of gold reserves by European central banks as well as the ECB itself.
The ECB last week sold 360 million euros in gold, or 31 tonnes, at the bank's new book value for the metal, said GATA, citing research by gold analyst John Brimelow of Aegis Capital in New York.
This amount was matched only by the sale of 47 tonnes at the end of March and a 31.9-tonne sale last December, GATA quoted Brimelow as saying.
"An indisputable pattern has now developed for the ECB to step forward as a massive seller when gold approaches the $440s," Brimelow said.
But some market-watchers disputed the idea of a concerted effort by European central banks to keep gold prices below $440. They said rallies above that mark this year were failing mainly due to the presence of major technical resistance.
"I don't think you can really point to that as something that's suppressing the marketplace," Paul McLeod, vice president of precious metals at Commerzbank in New York, said, referring to central bank sales.
"They are operating within their quotas and the market very much knows their volume allotment over the course of a year."
McLeod added: "If you're holding a commodity that's naturally volatile and you're seeing prices up there, you're in the top part of a range and you probably want to sell more there than you do at $420."
A trader at a precious metals refiner said profit taking by investment funds has tended to cap rallies above $440 to $445 this year.
"The (fund) long positions just get too big when we get to this level and there's just no buying left," the trader said. "The buying happens if you get closer to $420."
Spot gold <XAU=> was quoted at $423.15/3.90 on Thursday afternoon, after an earlier safe-haven rally on news of four deadly explosions across London's transport network.
Gold in 2005 has been unable to regain the 16-year peak above $455 an ounce reached last December as the U.S. dollar was stuck in a three-year-old decline. ((New York Newsdesk, +1 646 223 6000))
.....something stinks to high heaven with the nature of the market reaction to the London bombing today. Why was $20 billion pumped into repos on Tuesday, for no good reason that I could discern? Why was there a big seller just waiting to attack the gold spike during the London session, minutes after the first bomb goes off? I'd swear that someone had foreknowledge of the events in London today. It looks like the plunge prevention team saw to it that the DOW, DOG and S&P even made money today on the news, while gold finished flat to the penny. It just ain't natural.