Yesterday, China announced they will price oil in Yuan for trade and that they don't want to buy anymore foreign currency reserves. The day before that they announced they would stop interventions in the currency market to buy dollars and maintain a dollar propping peg. They are done with Treasuries and the USD. They already have swaps in place where they trade. That means they are already a reserve currency in those countries. With trade, this grows. The USD is on the downhill slide now. Its APEX has occured. And it will take the rest of the western currency block with it. Even Suadi Arabia is turning on us. The petrodollar is over. If you continue to hold USD, or anything denominated only in USD, you are going to get slaughtered.
You are stupid. I mean really really stupid. It is like you can't figure out how I know things about the currency markets. Listen dummy. If you think gold corrected fast, watch how fast it resumes as if 1180 never even happened.
Nothing goes directly anywhere. But fiat was given a couple years to sort itself out. It didn't. Bankers are about to get the carpet pulled out from under them again for making bets on Fiat. The trading cycle is peaking out on momentum chasing. The bankers were wrong from start to finish betting on fiat value and economic recovery. Betting against gold and silver was wrong the whole time. And now they are going to get hosed. Almost every commodity has started popping. Gold and silver will too, soon enough. Wall Street votes its disapproval of PMs, and then loses the election.
Saudi backed Sunni radicals have already claimed responsibility. Enjoy the WW3 the Saudis are starting for us.
I know I just sold come bitcoin for gold. My next batch is going into silver. PMs are now firmly under the control of the new bitcoin currency. The US derivatives market has been flanked and no longer has the ability to compete with the purchasing power of bitcoin.
She is serious about putting gold back in the system and cleaning out the bankers unprofitable gold transfer to the east scheme. Imagine the horor she felt when she got the news on how much gold had been sold from out of the Fed's vaults.
Yellen says she has no views on gold. The go signal is on! The interventions have ended. She wants banks to load upon good collateral. Very subtle message, but a message it is.
Now, with a few bitcoin, all of the silver can be bought up. The banker web of derivatives is defenseless vs bitcoin. They convert out of USD into gold and silver or they lose everything.
They are furious that they are not profiting from the fall of paper currency within their realm and tired of taking part in the wealth sapping fraud used to suppress prices pointlessly. They want their part of the pie.
Do you even realize that 50% of the taunting of bankers and shouts of dollar death were organized to get bankers to attempt to force prices down? They got rope a doped by the crew. You guys don't even know. The paper market was rigged by rubes. It was never important until the crew decided it was important. Paper and physical will not separate again.
Going into the end of the year, there will be a lot of shorts bailing and taking losses. They cannot keep taking the pain. PMs have obviously put a bottom in.
Same dummies shorting since 17. I don't think they are doing well at all. They got suckered into shorting. The physical accumulators roped them in like cattle.
It is hard to see how the shorts are going to get out of their contracts.
USD just had a blow off on dollar bearish news to tap heh hourly and daily downtrend and form a double top. The USD is about to faceplant for at least 2%.
The funniest part about the bear trap shorts followed GS into is that nothing, absolutely nothing, they predicted ever happened. They just owe hundreds of tons of gold that they can never get back. What a scary mess the shorts are in.
They would have attacked it this morning if it was going down.
They are 100% paper. So they are just wallstreet momo trades. It doesn't matter if they mint money or lose money. They are either hot or not. That being said, everything trades. They will go from the doghouse to the penthouse and back again, just like everything else. My opinion on that paper is that they have turned already. Gold and silver have charted out bottoms at extreme levels. You won't get a serious short position put on and held as long as that is the case. Plus sentiment is so bad even people who like gold and silver hate the miners.
For silver, which is all over the place all the time, ignoring everything and holding flat indicates the market has decided silver is not going down anymore. Something is going on.