The only thing that has changed since 2011 is gold being more bullish. The bankers control nothing and set the price of nothing but their paper hopes and dreams. You might be in gold for paper gains or safety. It doesn't matter. Both gold and silver have never been this poorly traded by bankers and fraudsters in the history of finance. Yeah. The bankers are stuck and they won't quit easy. They will try to change the rules again and again. In the end, some will quit trying, and the rest will be eliminated.
And you want to know why? By playing paper games in the gold market, they devalued 90% of the world's savings in gold, at the same time gutting their own gold inventories, and reducing trust in the banking system by using fraudulent means to move the gold price. They caused the second leg of this depression, undermined sovereign balance sheets, and made the banking system untrusted to handle customer gold. They are finally coming to their senses. The banking system needs reform and assets to balance debt, not more printed paper.
They gave their warning. Pay attention.
I own a variety of physical silver. Coins, bars, rounds of all types sizes and nationalities. The premium on my physical portfolio is 42%. LOL. This paper price is not real. Take the physical metal.
Taking gold from Wall street idiots while the US financial system bleeds out to a husk is the easiest decision you will ever make. The USA now has 18 trillion in debt to print up and pay off its debt. And that is just what we know about in Treasuries. Gold has never been cheaper than it is today. And it is all thanks to some dummies who bet the house on the impossible dream of the clipped US fiat turkey having magical powers.
...And there are people promising to deliver silver and gold at impossible prices. No one who owns gold and silver is selling their own stash. Nor will they ever sell it for the toilet paper money of the West. Demand for PMs in these conditions is infinite. There is no amount of gold and silver the bankers can steal that will fill demand. Price is a dying currency is irrelevant. The important thing is that you can still get out of paper in to physical money.
I love the bankers attempting to fight global market forces. It is so funny to see all their puny plans and lofty predictions collapse under the weight of their own noobish antics. They think they can make every possible mistake in predicting outcomes and still win by painting the tape and reselling other peoples gold. Nope. Gold is a physical market. The market will buy an INFINITE amount of gold when it is priced wrong. There is no amount of stolen gold that stop an infinite demand for free wealth. We are well into WW3 and probably the eventual nuking of DC. Ukraine is back on and Ebola is back in the news now that the elections are over. Obama lost the ME. Only a deluded 20 something banker is deluded enough to pile up gold debt here. Keep taking their gold. There was never any chance of gold staying under 5k.
This is the spot I was waiting for in paper. So was everyone else. They rushed it down here at the end, so this is probably going to be a major pivot point. It might be worth it to take a shot at paper. If the market is not about to default, it should bounce on this line pretty hard. This is the line that was the original 1040 target. Physical is always good. Paper is always a gamble.
This is ending one of two ways. Physical over 5000 overnight, and paper 5000 overnight. Or, physical over 5000 and paper default. Do not trust Wall Street idiots to understand a physical market. Anyone can sell billions in gold, that doesn't exist, for delivery at later date. It is delivery that is the issue. Whether the COMEX changes the rules or enforces them, is not material to where gold is going to settle. Take the physical while you can. It has never in history been this cheap vs paper. Never. And it is all thanks to unbackable derivative promises and a self trusting wall street that never learns. Take it.
The only thing that is happening is higher premiums. Generic bars are still at 19-20, where they have been for months. Bullion coins are almost all over 20. This paper selloff is doing nothing but breaking the physical markets away from the paper markets. It is pretty interesting to watch the predictions of the smartest metals analysts come true. Physical only folks. The paper market is just a fraud that represents nothing..
The clearasvodka guy reads Chinese news fairly often. It is like having an intelligence asset in China. I'd link to his channel but Yahoo won't allow it.
There was never any doubt paper would be created until gold did a retest of the last low. It always comes in twice. But as you can see, physical prices are not keeping parity and premiums are rising. Start taking the physical metal again. You are not getting much of a discount on the real thing, especially in silver. The banker shorts have never made an accurate economic prediction and they are buried in gold debt. All they have is a paper market to paint. They exist only in a bailout bubble of free margin and loans. Take their physical gold and silver. Let them paint paper in your favor. The math is what it is. The GDP print proved once again there is nothing in this economy but government debt spending. It is all printing press and all economic decay all day.
Last time I checked the Fed was a bunch of people voting their social value system. Gold and silver only are honest.
The gold shorts are impressively stupid. Take their gold. It is easy to beat some kid on a trading desk who doesn't understand economics. I feel bad for people who have never been in the industry and actually think bankers and traders know what they are doing. They are short term public minded fad followers. That is why every crisis puts them out of business. Take their gold. Let them have their stocks and bonds back. You will know when it is time to sell gold. It will be way overvalued. At this moment, gold is about 5% of the price it had 1980 vs the money supply when it was actually 30% overvalued. Gold is VERY VERY inexpensive insurance and money. Silver is priced even worse. Keep taking the physical. Math always wins. And anything done to stop the math from working short term in one area, re-enforces it in another area.
...Everyone else is. Ignore all banker data. Ignore all media claims. The math and the truth of the gold ponzi is all that matters. Take all of their metal and leave them with paper.
The old fix was abolished for one reason only--It required using real metal. The bankers were using customer metal they had no rights to use and replacing it with paper IOUs. That is why it is gone to all electronic. But all electronic is a sideshow that provides no bars to the market. If the people on the other side of FOREX and electronic selling don't part with real metal while they buy paper, then there is still no metal hitting the markets. The bankers gambled on the new fix, which never had a chance in hell of suppressing metal prices without real metal, and they lost. And looking at the FOREX volumes of the last month, they bet huge that FOREX selling would trigger real selling and hedge selling. Mistake. And it will cost them. Keep taking the physical. VS money supply that it has to back and insure, gold has never in history been cheaper.
The problem is that the shorts are now operating entirely in the FOREX market, entirely using derivatives, and entirely depending on teh people who take the other side of their contracts hedging on the COMEX to provide the actual metal. No one is doing that. So there is this gigantic FOREX only bet, that has completely failed to have the desired outcome. There are no sellers because there is no gold. Take the physical.
The shorts have never made a single correct economic or political prediction. The market has taken all their gold. Now they are just flailing and hoping for magic gold to appear. Take everything they have. They will learn to make the right move when they are chasing it up.
The stock market and the commodity markets have different start and end times. The ticker resets at different times.