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You guys see what's happening in Cyprus this weekend? Government-designed and sanctioned theft of depositors' savings up to a 10% level over today and tomorrow. No electronic transfers allowed this weekend. 6 billion euros collected in two days.
I wonder if this might put some electricity in the POG......
Imagine what people in the USA and mainland Europe might think about the safety of their cash deposits.
Cypriot people have effectively been mugged for 7-10% of their money.
It looks like J P Morgan don't like the severe bottom-kicking they are getting from Sen. Levin today, and so were determined to exact a counter- attack on the POG with a gradual and relentless taking-down of the price during the trading day.
Revenge served cold but on us, but not by us.
Not exactly the 'obvious' crash that Sparky's dojis confirmed was coming, but annoying and frustrating nonetheless.
'...and that a massive gold rush will soon be ignited...'
By whom?
And why?
Demand is healthy and sustained but what exactly is going to increase demand exponentially?
Please advise.
Hiya Sparky,
How are those dojis and the 'obvious' crash in POG?
I'm getting even more nervous.
Endeavor EDR looking a very strong company.
Nessun Dorma.
Everyone is wide awake and watching closely to see if the J P Morgan smack-down express also leaves the station at the scheduled time of 8.30
But.... You began it sparkle, with all the toffee over dojis and the bear pennents.
I don't think you believe a single word of it ....lol
Have a great day.
Let's see if that POG crash of yours happens in the next four days.
(Those doggies and bears might be right... lol)
Why would I be lonely? I'm not lonely at all. Do you think I am lonely because I propose something logical/
It's your stance we are discussing, you said the POG was obviously going to crash this week, but you didn't sell.
Now that IS something feckin weird... lol
You could then buy the same stuff back, at a lower price.
Surely that makes sense?
But an obvious crash might well send them much lower, so getting out now might save you even more losses ?????
If the charts give you an unambiguous signal and you believe those signals then the obvious thing to do is to run for the exit before this week's crash. Surely that's logical?
But your dojies are saying the POG will crash this week?
They must be right because you said it was 'obvious.' ???
Didn't you take some cash off the table when you saw the chart give that sign?
Sparky, if you genuinely believe you are right, then you shouldn't really worry about what anyone else thinks about your predictions. Go for it.
We will know by the end of the week if your 'obvious' reading of a POG crash is right.
Sparky Q.Can someone explain gold oz doji's for 7 days in a row?
I don't understand why it's at a stand still.
Sparky A.Gold will crash this week...
https://www.tradingview.com/x/ubxlqmFd/
Bear Pennant forming..obvious one
Does the above mean you have answered your own question? lol
If it was so 'obvious' how come you had to ask? lol
I can't say I've ever heard of Yves Smith but strength to her elbow.
If 'bemoaning' is education the the lesson is repeated virtually daily. I just wish Sprott Rodgers and Sinclair would take a leaf out of Ms. Smith's book.
She sets a good example which the fund managers aren't really expanding.
So, last month South Korea increases its Central Bank gold holding by over 20%. Now there's a sign of the times.
'Then why the cloak and dagger statements about pm's?'
jt, I simply have no idea what you mean by this.
The last thing I am is 'cloak and dagger.'
I have made it very clear here and on Goldbugs that I am a real fan of PMs. I see all the dangers of money-printing, fraud in the vaults, eastern central bank purchases of gold USD debasement etc etc.
My gripe, and it's more a frustration is that whilst the big three 'experts ' have been whining about manipulation by the Fed and particularly J P Morgan, there seems little incentive to increase one's allocations to PMs in the midst of a rigged game.
I have also suggested that the 'experts' lean more towards using their vast institutional power to change the situation and less moaning about it.
Claok and dagger, me? Get real.
It makes you wonder how the 'experts' sell their PM funds.
What do they tell prospective investors?
'All the fundamentals are fine for Gold and Silver but the Fed with its agents HSBC and J P Morgan rig the game to suppress the prices...so ..er how much do you want to invest?'
lol
'But I suspect you will keep a nice balanced portfolio full of USD's because Sprott and his friends can't give you an exact timeline.'
I can very firmly assure you that I hold no US$s. I have quiet a good supply of Charmin in the bathroom. lol. You really have got the wrong idea about me.
Here's a heads up: I like PMs... lol
"What the hell do you think they are doing?'
I don't see them doing anything but bemoaning the short manipulation.
I don't see them lobbying CFTC or Congress or anything else. If you are aware of them doing something, please let us know.
Genuine request, no b/s.
What's fueling the miners?
Yes yes, you sound quite like them jt, lol !
However the POG and thee POS have been going down for a year.
The three loudsters have also been saying the POG AND POS have been manipulated by the Fed and its militias to protect the USD.
So, I'd say that whilst the macro-economic factors support PMs well, but their prices keep going down, the best thing Sprott Sinclair and Rodgers can do is not bark through the night about POG and POS going to the moon 'sometime' but to use their huge influence in the PM market to force the Fed to stop suppression.
It's of no real benefit the cheerleaders singing and dancing noisily if the team is 30-0 down.
I suspect The Fed can subsidize JPM and HSBC for ever if required.
Can the boys beat the Fed?
jt, and POS also, of course.
I neither trust nor distrust any of them but Sprott, Sinclair and Rodgers seem to be the loudest about the supposed huge POG turnaround. Given their collective decibel level I find it a cathartic point on their similarly confident stances that POG will soar at any moment.
It may or may not, and as a fan of gold I hope it does, but the noise level of these three 'experts' is a psychology lecture in it's own time.
They are either all correct or all getting it completely wrong.
It's fascinating.
IMHO Jim Sinclair should put a sock in it now.
His constant barking of PMs rising/breaking out dramatically/soaring etc is just embarrassing himself publicly.
He's been yakking this for months on end as PMs are marked lower and lower.
Why doesn't he admit he made the wrong call?
'Dishoarding' seems like a new word. Won't the usual one's do just as good a job? Like ... 'not storing it any more' ? or 'passing it out for financial gain?'
Plain language always makes a bigger impact with your audience. Sprott should speak more plainly to us.
Jim Sinclair batting for gold again. As he's now using dates he's either onto something or he's getting desperate.Only 24 hours or so to see if he's right....
Eric King: “This smash that we’ve seen in gold, is it over?”
Sinclair: “On or before the 28th of February is the date that I’ve been living with, and it looks like it’s right. "
I thought it was Silver Options expiry date today.
It doesn't seem like it. Maybe I got my dates wrong.
Andrew Maguire often speaks to King World News.
If you haven't seen this before you may find it interesting
http://en.wikipedia.org/wiki/Andrew_Maguire_%28whistleblower%29
Andrew Maguire often speaks to King World News.
If you haven't seen this before you may find it interesting
http://en.wikipedia.org/wiki/Andrew_Maguire_%28whistleblower%29
Yesterday I may have spoken too soon about that 'turning point' for Gold. Sorry.
Economic news today is generally very poor, so I think this is both a very good day, and perhaps that turning point, for Gold.
Yes, Bob, you have indeed told us this several times. However, in his memoirs Paul Volker expressed regret that he did not 'get control of the Gold price.' I doubt his descendents failed to learn from that mistake.
It is perhaps best you not claim on the one hand that gold and silver are now being grossly manipulated downwards, but they will soar like they did in the 70s, when the price surge you refer to came about because of the manipulator's regretted omission.
It looks very much like Sprott, Rodgers and Sinclair et al, got it all very wrong.
I'd be interested in their explanations, and I don't warm to the 'it's being manipulated...' stuff. No-one says it's manipulated when prices rise.
This scaremongering over the 'They're going to take away our guns...!' is facile and childish.
Only the military-style assault rifles that the mass murderers like so much will be affected. Hand guns and hunting rifles won't get legislated.
Likewise, Obama will not take people' gold as he knows that would never be countenanced by the electorate.
This silliness over gun and gold confiscation scares should stop , but you can guess the NRA and the Alex Jones' will rant and rave ad infinitum and claim victory when what would never be done isn't done.
ps Even the majority Newtown populace still want to keep all their guns.
'And the best part is that you now know about it.'
I think we've all known about it for quite some time. The media experts don't seem to have a handle on the 'when' bit.
'The more they print the higher gold goes.'
It certainly appears to be the opposite to that statement.
PMs are trending down despite huge paper printing.
Very confusing.
No real surprises about South Africa there George. The boom times for SA gold were almost 100 years ago. It's largely mined out, and winding down gradually like an old clock.
"You have heard it from Richard Russell and myself."
Yes Jim, for months and months on end, and it's still not happening. You might usefully allocate some time describing why the POG and POS are not responding to wider economic conditions and remains a poor relation in investment matters.
That would be of far more benefit to us all than the repeated shouting of the mantra.
I don't understand this apparent contradiction of statements
"Gold is going to and through $3500"
but
"Neither Richard nor I have experienced embarrassment as leaders, directing our friends into a trap of price or time."
You need to sharpen up your act, Jim.