Wednesday, February 27, 2013

QE TIL HELL FREEZES OVER

YOU KNOW NOTHING PUNKS
I want NONE of you to misunderstand me in my testimony, you will have to pry this printer from my cold, dead hand before I stop printing. Let me explain something to your committee....I send out some of my minions that feel endless counterfeiting of the currency is irrational to control equity prices and drive down the gold trade, but there is not even a snowballs chance in Hell that I am going to even remotely stop printing dollars. You people don't get it do you. We dropped off a cliff in 2008 and when I say we, I am referring to the entire developed world. You think I have printed a few Trillion dollars.........well I've printed TENS OF TRILLIONS you morons. That's what had to be done or you punks would all be hanging from ropes on billboards adorning the D.C. freeways. If Krugman knew how much I've printed, that little pretender would crawl back into his hole and cry for mommy. You want the truth Mr. Corker....well you can't handle the truth you little slimy used car salesman. I was cutting my teeth on Quantum Economics while you were dealing list price Buicks to little old ladies in Chattanooga so don't you EVER try and upstage me again. I'll knock your teeth so far back in your head that your dentist will have to take them out of your hair.

I apologize if you think there is some type of democracy in the Fed. That speaks very poorly for my effort at transparency. So let me lay this out straight for all of you prostitutes on the committee today. I run the Fed and the rest of the Govenors do EXACTLY what they are told. That sniveling little punk Paul is gone now and I don't want any of you weasels to think I will EVER tolerate any more like him.

Okay...here is the agenda. We're going to print and print and print. We have no choice. This is how you get your salary and your bribes. This is how we pay for 800 military bases in 150 countries. This is how we afford this bloated, lousy health care system that doesn't provide healthcare. That's how every single retiree still has a pension. We're going to print and dominate the world as long as we can run this out. Mathematically if we stop the entire illusion that we are the most prosperous country in the World dies immediately. 

Thank you for allowing me to appear before you today and any further inquiries can be in a written form and shoved up your......er sent to my office.

One more thing ...those punks on Kliguy38 need to grow up and start investing in general equities....ben




Monday, February 25, 2013

ROME!

Flashing the sign
The center of the Universe today as events in the faux political election distract the masses. This is a Western banker's country and no outcome is going to occur that is not already planned. The takedown in the General equity market is merely the brakes being applied to take some of the weak hands out of the market and draw in some shorts for the fuel for the next up move. We're possible in store for some fireworks on the short side over the next few days so stay strapped in. This is the kind of market that even the best traders are going to stumble in. I'm barely trading and have no shorts on right now. I'm in my miners and do not care what the short term shenanigans are. I will try some trades if I see some relative imbalances, but they would be way out on the margins.

Italy is a complete disaster and will require hundreds of billions to keep it afloat over the next year. The ECB will print. We will print for them also. That's right we will send Federal Reserve money through the IMF to bailout Italy. Don't worry this has been going on for several years now.

Arch Crawford gives May 21 as a day "all hell breaks loose"........write it down. My prediction remains March as the beginning of the real PM bull market. We're in a hell of a mess right now and we gave up on our constitution after 9/11. Never let a crisis go to waste. And they didn't.

Action on the miners doesn't really mean much short term so relax. Until breakout we are still in an overall bottoming process.

The news over the next week will be dominated by the latest fiscal crisis (the Sequester). Its another distracting event so ignore the noise. Pay attention to the bullion. Follow the MONEY. Gold and silver BULLION are MONEY. Never forget the first rule. FOLLOW THE MONEY!

Let's not overlook the other side of Rome There are only two powers capable of taking down the Pope....Why now?

According to the Vatican, the Pope today met with Spanish Cardinal, Julián Herranz; Cardinal Salvatore De Giorgi, a former archbishop of Palermo; and the Slovak cardinal Jozef Tomko - nicknamed 'the 007 Cardinals' by the Italian media - in private.
A statement from the Vatican said: 'The Holy Father has decided that the acts of this investigation, known only to himself, remain solely at the disposition of the new pope.' 
Thanking the cardinals for their investigation, the statement added: 'Their work made it possible to detect, given the limitations and imperfections of the human factor of every institution, the generosity and dedication of those who work with uprightness and generosity in the Holy See.'


Read more: http://www.dailymail.co.uk/news/article-2284434/For-Popes-eyes-Report-Vatileaks-scandal-remain-confidential-seen-Pontiff.html#ixzz2LxvXyCOt
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http://www.dailymail.co.uk/news/article-2284434/For-Popes-eyes-Report-Vatileaks-scandal-remain-confidential-seen-Pontiff.html

http://www.zerohedge.com/news/2013-02-25/next-domino-spain-main-suspect-rajoy-graft-scandal-has-passport-confiscated

“Very few beings really seek knowledge in this world. Mortal or immortal, few really ask. On the contrary, they try to wring from the unknown the answers they have already shaped in their own minds -- justifications, confirmations, forms of consolation without which they can't go on. To really ask is to open the door to the whirlwind. The answer may annihilate the question and the questioner.”

                             -Anne Rice













Saturday, February 23, 2013

BARCELONA!

Coming to a theater near you soon
So this is how the Global Government looks looks to the Spaniards this weekend in Barcelona as European financial leaders from 29 countries meet to determine changes to the financial and political landscape. In reality they are trying to find a way out of a worsening collapse of the Eurozone fragile union. Its become so dire for the PTB that Spain closed its borders to thousands of potential protesters pouring in from other European countries to participate in the Barcelona demonstrations.

Does this really have any impact on us? Perhaps not directly but it is a symptom of a growing problem with the central planning of the globalization cartel. As the attention of the Central Bankers remains focused on protecting the Bank's balance sheets from their insolvency, the real economy is left to the trickle down repair that is NOT addressing the pain on a large portion of the sheeple. Instead of expending their efforts to improve the structural breakdowns from years of malinvestment by the bankers, we have elected to chose a path of "extend and pretend". Trying to buy enough time that self healing can allow and economic healing through the ranks of business and manufacturing. Meanwhile the structural decay in our roads, bridges, airports, railways, and education progress unabated.

We're in the 5th year of the "recovery". What the MSM tries to conceal from the public when statistics are presented on improving employment are the more permanent conditions that are developing within our country. We have PhDs that are now working as cab drivers. We have new college graduates taking jobs at fast food shops. These are honest jobs, but they are malinvestment in our future. These people show up as "employed" in the statistics, just as those that have given up looking for work and just live off of food stamps and other forms of Government assistance. The real unemployment number in this centrally planned recovery is closer to 20% which is a depression era number here. In the countries like Spain, the official numbers are well over 25%. Back on our own soil there are enormous families that were living large and believing it was their patriotic duty to be an aggressive  spender. They were encouraged by the media and government even to spend and consume. Now the music has stopped and instead of letting the strong hands come in and take over the defaults of these millions of sheep....the Central planners elected to try and reinflate the housing bubble and destroy the possibility of a more meaningful long term recovery. This is calculated and this is why we talk about protecting yourself. There will be more pain to come, and it can only be postponed so long.

Keep your eyes on Europe. Its going to be warm weather soon. And with warming weather will come new problems for the Central planners. March should be a time for renewal. Someone is going after the Vatican. Strange timing. gl all


Thursday, February 21, 2013

DRUCKENMILLER TAKES BRAVE STAND

Stanley Druckenmiller appeared on CNBS with intrepid reporter Maria Bartiroma today and discussed balancing the budget. His focus was on entitlements. Here is a bankster that spent his career at the trough of Wall Street slurping up hundreds of millions into his own pocket while lobbying our representatives to take away what pathetic protections we had from their thievery. We don't need to go into that old history, if you don't know it by now you never will. What I found to me so disingenuous is not that someone was addressing entitlements but how cavalier their discussion was. Entitlements are a massive part of our budget but then so is "Defense" spending, but Defense was never even discussed. I wonder why? Stanley pompously submitted that HE didn't need his Medicare or Social Security and that it should be simple to just means test people like him and Maria laughed approvingly as though this would be such a simple fix. Here are two people that make millions and one hundreds of millions flippantly discussing means testing WHOM? Some poor schmuck that ran a small business and saved up 300K in an IRA. Now they're going to tell this schmuck that he has to live on 1% interest (3000K/year) and distribute his principle for the remainder of his life. While paying for WHAT necessities. I'll bet Stanley doesn't worry about gas at 4$ a gallon or the price of milk or beef etc. I wonder when the last time he paid an electric bill? Yet here he was....casually making "means" testing a simple solution for a massively complex problem is just what the bankers want you to believe is the solution. The bring you massive derivatives that distort the entire financial system then tell YOU that you are the problem now. Of course there will be means testing and of course your entitlements (if you have any money) will be slaughtered by the broken system. I just hope you don't accept these evil bastards "simple" fixes. THEY AREN'T SIMPLE! And their math STILL will not work.  "The fix" will just make you the real payer of another bailout. AND YOU WILL be the payer.

Miners forming a bottom now. Look at PAAS chart today volume outside reversal day. They're not bringing the group up yet so expect more bottoming for a bit longer. Enjoy their game because that's exactly what it is to them. When they're done pummeling the PM trade they'll make money on the long side. Contrary to what some of you may believe. They WILL make money on the long side of the PM trade too. They just don't want you on board. Go ahead and go long GOOG or CMG if you believe that's a better play here. Far be it from me to protest that move in this so-called "market".... gl

Tuesday, February 19, 2013

OLD SOLDIERS NEVER DIE

Sir Dr. Alan Moe Greenspan
They are just mummified and pulled out of the tomb once a year to sit in front of a CNBS pundit. Alan Greenspan, cabal soldier and mouthpiece states that we don't have control of our fiscal house and the Fed can only do so much. NOW you tell us. I thought you had our backs big Al. I guess we can all go home now and just get ready to toughen up for a century of higher taxes and austerity. But then why are we reaching new highs in the stock market and why is Dr. Bernanke ( I wonder if he can help me with this hernia  I have?) telling us in testimony after testimony that we are on a steady road of improvement with slow growth? These cross currents of information confuse me just as your Fed's previous statements of no need for further QE after QE 1......and THEN we get QE 2, QE 3, and now QE to infinity. AND shortly after QE to infinity is announced, we're told they may withdraw QE sooner than infinity. In fact they may start withdrawing it this year. Tell me Mr. Ed er Dr. Greenspan.....Why would we get all of this contradictory information from your vaunted institution? It's really hard for me not to fight the Fed if I don't have a clue what "the plan" is.

Next on my agenda tonight is Gun Control. I am completely mystified about the plan of the PTB on this hot button issue. I know, I know there is an inconvenient document called the 2nd amendment providing an armed populace that our forefathers set up NOT TO DEFEND THEMSELVES FROM INTRUDERS.....BUT TO DEFEND OURSELVES FROM TYRANNY. They knew that tyranny had to be fought against and our republic defended with an armed populace.........JUST LIKE THOSE SWISS MURDERING HOARDS. I would think that if everything is so peachy in our wonderful country that we can disarm the populace then WHY are your Homeland Security, Social Security, DEA, Internal Revenue, Postal Service, TSA, et al. accumulating 1.7 BILLION rounds of ammunition. 20 times more than we have any other one year period of history to compare. And why are we now bringing drones into every corner of our own country to be used on our own population? I'm sorry but if this is all meant to stabilize a nervous population, its not working. One might think that we are anticipating some type of problem with our citizenry in spite of our "improving economy".

German and European Car manufacturing fell off a cliff last quarter. A big bank failed yesterday in Spain and they are in full depression with 27% unemployment. Its so bad that RTS Payne is coming back to California. Speaking of California just found out they have mis estimated their budget shortfall by 5 BILLION. I do believe we may need some more printing when the Sequestration crisis is "resolved" next month. I wish this were all a joke but its not. And this is all at ZERO% interest rates. Please tell me that you understand this. g.


The World Gold Council (WGC) last week released its full year 2012 report for gold demand. While overall volume was down 4 percent from 2011 at 4,405.5 tons, the total annual value reached an all-time high of $236.4 billion.
The report highlighted the fact that consumer sentiment in India towards gold remained strong despite India’s effort to reduce gold demand. Meanwhile China’s investment demand surged 24 percent in Q4 versus Q3. The WGC forecasts that the demand in China and India will rise over 11 percent in 2013. Central banks’ net gold purchases have reached the highest level in almost 50 years, a jump of 17% or 534.6 tons in their reserves.




Sunday, February 17, 2013

YOU ARE THE GAME

That was easy
Boyz will be boyz.....and that's true for the boyz below Canal Street. I love the comments made about free market capitalism as if that ensures some type of "honest broker" in this game. You hear the Kramers, Kiernan, and Kudlows of CNBS cackling about capitalism when they have no idea nor have they ever attempted to educate themselves about "capitalism". They sounded the trumpets of free markets and Capitalism in the months preceding the market collapse in 2008 and just as the market would have a hard down move they were the first to begin screaming for Fed and Monetary intervention with panicking, shrill screams at Bernanke and Paulson to "do something". It verged on something scripted out of a Saturday Night live episode, but it was real and that's what made it so disturbing. Here were the trumpeteers and pied pipers of the market reduced to hysterical lemmings. They led enough of the peeps into the slaughter in 2008 but they were having their personal wealth affected too and suddenly they realized there were no prisoners being taken. Maybe when Bernanke had said in testimony during 06, 07 and even early 08 the housing industry was strong and he saw no recession on the horizon they should have been asking some hard questions back then instead of castigating the likes of Jim Rogers, Michael Pento, Peter Schiff, and others that were sounding the alarm loudly and clearly. Instead they ridiculed them and scoffed at their warnings. They carried the sheep right into the ambush and it was devastating for many people that played by the rules and had savings in the equities market. There were many people that lost money in bond markets and money markets before they implemented the insurance for all money markets. There is no money market insurance from them anymore it was quietly discontinued over a year ago. So be prepared if you think you cannot be MF'd ala Jon Corzine.

Whether you want to see it or you aren't capable of seeing it that is fine, but we are entering ( and I think rapidly) another rough period of time in the markets. The economy  is not fine here even though the appearance for some areas appears to be improving. Look at Spain, Greece, Portugal, Italy, Ireland,......they're in depression.....NOT recession. The only thing that keeps some of them from full fledged chaos is the printing of money by the ECB to maintain their food stamps, medical care and pensions. Guess what....that's the only thing keeping our nose in the states above water. Printed money with NO response to the underlying structural collapse. Someone periodically says "but you said we would be in depression". You really don't want to know my response that I really want to give but the fact is WE ARE IN DEPRESSION AND WE HAVE BEEN IN DEPRESSION. We have "enjoyed" a real unemployment rate of over 22% since 2008. The 8% rate you are given includes employed as anyone working minimum wage 2 days a week as employed. I had an architect that was with a firm that built almost every baseball stadium in America the past 20 years wait on me at Lowes today. He was laid off two years ago by them but is considered employed because he works on weekends at Lowes. He was optimistic because he said he has had some part time jobs working on several multi-million dollar homes being constructed here in the last year. I didn't have the heart to tell him what I thought. Sometimes ignorance is bliss. We do not have high paying jobs being created for our College graduates and the high tech jobs that go begging due to our Universities not producing enough engineers and high tech graduates is absurd. The number of jobs that can't be filled by U.S. graduates is complete bullshit designed to make you believe that corporate America is doing its part in this depression but YOU THE PEEPS are failing on your end. And we keep falling for it. Go ahead and open up those work visas so we can fill those openings with some 25K/year developing nation grads. That is the real game. GIVE ME A BREAK! If you want to believe that bullshit then be my guest. You probably fell for that line back in 2008 when people were questioning the extraordinary Wall Street Banker salaries and the incredible pay was defended by the logic that "If we don't pay them this amount then they will go somewhere else". REALLY??? We were in full economic collapse and you have the audacity to spew that bullshit as you simultaneously were asking taxpayers that made 40K/year to take it up the arse with your TARP? Wait a minute.........just look at the picture above. Which one are you?......gl





Wednesday, February 13, 2013

GRINDING TRADERS INTO DUST

Just what the cartel planned. You can do this when you control every aspect of the Precious Metal's market. You control many of the largest miners. You control the governments that regulate the producers. You control vast quantities of above ground physical gold. You control the paper derivatives that serve as black holes for investors believing they actually are investing in gold and silver bullion. You control virtually all of the media that reports on fiat and precious metals. You control the Bank of International settlement that sets the daily price of bullion and you control the bullion banks that feed sovereign central banks. You control the military and politicians that decide whether bullion flows cross border. You are able to tell an economic powerhouse like Germany that you cannot have your own gold.....at least not now.....and maybe never. You can convince the masses that owning gold and silver are NOT money and should not be owned.....even though they have slaughtered general equity performance over the past 12 years by a massive percentage. Just go ask the Billions of Asians and Indians what money is. They will respond gold and silver NOT fiat. Ask an American.

We're in strange times now and it will probably intensify. When you are engaged in a massive effort to keep the dollar as the world's reserve currency all types of tactics will be employed. The CONfidence must not be lost or the game is over. I watched Asian women today buying Louis Vuitton purses at 3K a purse for the Chinese New Year like they were buying a hamburger.  No big deal. In every high end shop there were virtually NO Americans, but they did have Asian buyers. The times they are a changin'. No Europeans either BTW.

I listen to the CNBS pundits explaining how the increase in payroll taxes will have no effect on the Target and Wal Mart shoppers buying but it MIGHT have some effect on the higher end department stores. REALLY???? Where do they find these clueless POS.

Most of your have your own compartmentalized worlds and that may be very healthy for you. I travel between several worlds and I talk to a lot of different people in these worlds. I also frantically scan information on a lot of sites and I do NOT see the turnaround that some of you believe is here. In fact I am seeing a fatalistic acceptance of much of what we discuss here. A lack of morality, a lack of fundamental laws, the rise of the state, the loss of the individual, and the lack of a future. These are not the foundation for this country to move out of this morass. I hope as some of you have stated that we find that "Next great invention or energy force" and we surge into the 21rst Century. Instead I expect to see more NDAA/Patriot Act/ Domestic Drone control/ Fema camps/ TSA/ Homeland Security/ Militarized police/  gl all .....charts later tonight





Sunday, February 10, 2013

PEACE AND TRANQUILITY

As we enter into the heart of the Kondratieff Winter many of you share a sense of comfort brought by the extraordinary measures taken by the Federal Reserve, the private banking group responsible for much of the world's developed economies. Amazingly there seems to have been little or no steps taken since the economic collapse of 2008 to address the structural problems the were responsible for the staggering collapse. Massive monetary policy by the Central Banks in an effort to reflate the system and save the biggest banks which produced much of the problem.  Much of the developed world seems to be going through a series of coordinated monetary reflationary efforts principally through currency devaluation. Keeping this coordinated is the key. Recently cracks in this effort are starting to show up with Venezuela and Japan openly taking on a much larger competitive devaluation. It was only a matter of time before the cracks would show up as our own economy experienced a relative boom compared to the pain being experienced by many other countries as our Central bank using the dollar's reserve status maintained our spendthrift status.

That takes us to today. The Tranquility State. Many of us believe the effort being made to kick the can down the road is going have problems, perhaps even fail. Even if it fails most of us really don't understand the full ramifications of failure. Perhaps we have some hard times for a couple of years and then slowly return to America of today. With a slow down we may have to endure some decrease in Military spending......10%?..20%....40%.....Do we close bases overseas? Do we slow down new weapons systems with tens of thousands of high paying layoffs....and for how long? Do we bring home tens of thousands of troops from overseas? Many fiscal conservatives want to exercise budgetary restraint, but the programs being discussed to cut hardly make a dent in the 200 Trillion in unfunded mandates and direct debt. If one believes in Nature's law of mathematics then you meet "the problem". If we cut the budget across the board just 10%........we go into instant depression. You won't be accessing health care. You'll start experiencing major shortages as supply chains begin to break down.  If we don't cut the budget at least 10% then we will keep adding to an already impossible debt equation. Either way we are going over the cliff. 10% will not even correct the math... Default, deflation, hyperinflation, stagflation.........these are all on the table. I'm not going to dig a hole in this post trying to look into which one we get. We're going to get all of them. They're all unavoidable.    

By failing to prepare, you are preparing to fail. 
Benjamin Franklin 


In deference to Budfox, it is truly such a problematic math problem that ANY paper vehicle including the PM miners pose a risk to you......SO BEWARE OF PAPER........THEY HAVE COUNTERPARTY RISKS. Including so called blue chip companies OUTSIDE of the precious metals sector. We're truly in no man's land so if your think that we wind up with some type positive outcome then send me your kool-aid recipe. They didn't order up 1.9 billion rounds for the homeland because they believe its going to end well. NDAA isn't there for the "turnaround". I'm going to the Big Casino for couple of days and will give the boyz my best. gl

Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote. Ben Franklin


Thursday, February 7, 2013

LOWER HIGHS AND LOWER LOWS?

Wow...maybe these aren't total pigs ... I wonder when Budfox puked up his shares
Unfortunately I had not read the Budfox comment closely and let something very important slip by in responding. This was probably Freudian on my part since involving you in the paper trade is tantamount to pulling you into the Devil's lair. Yet even I was surprised by some of the numbers. I've mentioned a number of times that I believed the miners bottomed last year and that for many the bottom was in May, so I went back to check and I was partially right, but the time frames were not quite accurate, reflecting what I believe was to conceal the accumulation of the miners through the different indices. You decide yourself if we have had a broken trade confirmed by a series of lower highs and lower lows since last year. Here are over half the miners I own except SLW and I do not own it in my account. I did not cherry pick these. These are for the most part my largest holdings and I got tired of the math. If you think I cherry picked the Math I could have chosen the 2009 bottom.....I chose last years bottom because I still think that may have been it and have said so many times. I could be wrong.

First SLW It bottomed in May last year at about 23 and rose to 41 in just a few months for a 78% gain then has pulled back today at 37 STILL a 60% gain from last May......hardly a lower low from last year.

Next PAAS another large silver miner. It bottomed last July at 13.5 and rose to 22.5 in just two months for a 66% gain then pulled back and today trades at 17.7 which is still a gain of 31% off of its low last July. not too bad.

PPP this is unfair of course....what a monster ....It bottomed in March of last year at 2.2 and then rose to 8 in October for a 263% gain and today rests at 6.31 which is still 186% above its bottom last year....

Next AUQ it bottomed in September last year at 5.3 and rose in just two months 62% to 8.5 and now is resting at 7.2 STILL a 37% gain off of last year's low....not bad. Certainly not a lower low.

AAU take a look at that low in August....1.5 on the tail then peak in December at 3.3 for a 120% gain. Today its at 2.6 ...a 73% gain from its low last year. I'm seeing a pattern.

AG oh my! It bottomed last year at 12.2 and rose to 24 last year for a 96% gain and now rests at 18.5 for a 51% gain off its bottom from last year.....maybe this trade wasn't so bad

AUMN  Short and sweet its at its bottom from May a year ago......not a lower low.........yet.

HL this one almost cost a friend a lot of money......it didn't cost me anything....yet. It bottomed at 3.5 last year and rose almost 100% to 6.9 and now sets at 5.5 still 57% off of last years low.....NOT a lower low by any stretch of the imagination

BRD bottomed last year at 0.67 and rose to 1.08 for a nice 61% move NOT too bad Budfox if you got out at the top but guess what ...Its at .90 which is still up 35% from its bottom of less than a year ago.......

I think the point is made. Do your own DD but I think this game is far from over and can they crush this trade further? YES YES and YES.....but we still have a very interesting game to play......gl


Bite The Emotional Restraint Bullet

My Dear Friends,
The pressure on gold is not permanent in any sense. This decline is, as I have told you, similar to the series of declines just before gold took off in the 70s from $400 to $887.50. Those declines then were for the purpose of the last great shake of the gold apple tree prior to the move that gained the most distance over the least amount of time.
My birthday is March 27th. By that time this decline in gold will be old history. This decline is purely to take your positions away from you, certainly in shares which today trade at historic discounts to their assets.
I can only suggest to you as strongly as possible that you need to defend yourself by doing absolutely nothing. This way you can get into the fight and prevent the shorts from taking their profits that are soon to become losses.
The biggest profits the shorts have is in your shares. As long as your company is performing well on the ground do not let the shorts have any joy. This may be the last time before gold trades in excess of $3500 that you need bite the bullet of emotional restraint.








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Wednesday, February 6, 2013

BOTTOM FISHING


Why aren't they biting?
Its a little late for this post, but I want those of you still in the Precious Metals trade to be aware that without a confirmed breakout in the miners space that investing here from a purely trading perspective is indeed Bottom Fishing. Call me guilty of bottom fishing. Of course one can accurately describe this as a broken trade at this point and maybe exiting it is the right call. In this case I will have to disagree. I cannot from an "EQUITY" standpoint recommend what I feel at this point is a better trade to be in......IF YOU AREN'T LEVERAGED....If you are then you could still be caught in their trap short term. Most of my miner charts appear to be nearing a make or break point. PAL has even broken to the upside as has platinum. I subscribe to Droke and he also cannot make a long call on the miners from an intermediate trade perspective. KWN has been bottom calling for over two years. So where do I think we are? My timeline is two months. During the next two months I expect to see a hard break up. What fascinates me is to look at it from their standpoint and I actually see a very serious beatdown possible on the charts before they take it up. This is presented as a distinct possibility before they take it up. It would demoralize many weak hands barely hanging on. That would be devious and just what they could do. Its their casino. If we get a paper price beatdown I cannot see it lasting long...probably less than a weeks. There are too many serious bullion buyers now and they ARE taking possession. So if you are like me and have held some fiat for bullion buys on one last Takedown then you had better be quick and begin buying at the mid 1500s on gold and 29 level on silver. Average down.

For some of you that follow ZH and many of the informed sites it appears there is a desperation that is accelerating. If you are sitting still watching, then you're gonna get RAN OVER. Just like the below picture of the food riot in Greece today. They were passing out free fruit and vegetables and a person was trampled to death. Nooo...this is all just business as usual......move along now.
Greeks begging for food today

I wonder how many had their trust in the "system". It would be there to "take care of them". Even though they knew it was loaded with corruption. Sound familiar.Everything they were promised is now gone. Is it going to get better now? Is the system fixed.........once again......for the 15th time??? Is it???  Is it fixed here too with debt now being piled onto debt. Are you really that gullible........are you??? This is all a game. One with incredible consequences for many of us that make this the fight of our lives. Good luck if you think it ends well.