Replies to post #3682 on The GraveYard Shift

[JD400]

Ground Control To Major Tom

MMGYS

Gold & Silver Taken Behind The Woodshed For A Sixth Day In A Row
April 23, 2019 58 2462

The beatings will continue until moral improves…

Gold & silver have been hit every morning for the last six trading days.

At least.

Here’s where the morning smashes appear on gold’s chart:

There has been other pressure, but I wanted to direct the attention to the mornings smashes because they’ve been particularly egregious.

Here’s the daily morning smashes on silver’s chart:

Silver’s been hit pretty good this morning, losing its short-term support.

Bottom line?

The US government can manipulate any market it wants, at any time, and for any reason.

It’s right there on the US Treasury Department’s website:

The ESF can be used to purchase or sell foreign currencies, to hold U.S. foreign exchange and Special Drawing Rights (SDR) assets, and to provide financing to foreign governments. All operations of the ESF require the explicit authorization of the Secretary of the Treasury (“the Secretary”).

The Secretary is responsible for the formulation and implementation of U.S. international monetary and financial policy, including exchange market intervention policy. The ESF helps the Secretary to carry out these responsibilities. By law, the Secretary has considerable discretion in the use of ESF resources.

The legal basis of the ESF is the Gold Reserve Act of 1934. As amended in the late 1970s, the Act provides in part that “the Department of the Treasury has a stabilization fund …Consistent with the obligations of the Government in the International Monetary Fund (IMF) on orderly exchange arrangements and an orderly system of exchange rates, the Secretary …, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities.

They can.

They do.

All day.

Every day.

And they will continue to do this.

All day.

Every day.

Until they can’t.

In the meantime, buying on the smashes will bring the physical gold & silver supply problems sooner than later to the ESF, the Fed, the PPT, and agents of all three, collectively known as the cartel.\\https://www.silverdoctors.com/gold/gold-news/gold-silver-taken-to-the-woodshed-for-a-sixth-day-in-a-row/
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Gold got hit today, as is befitting of an option expiration in our loosely regulated markets.

The Dollar closed higher.

Stocks are hitting new highs.

Never short a stock or stock index just because it has moved higher.

Keep your eyes open though. Things are progressing faster than one might have expected.

Perhaps now is the time to take some profits as one may have them in equities, and redeploy them in safe havens, including cash.

The bubble is frothing.

And so is Trumpolini.

Neither is likely to end well.

Have a pleasant evening.













https://jessescrossroadscafe.blogspot.com/2019/04/stocks-and-precious-metals-charts_23.html

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Gold & Silver Prices Pressured To 4-Mo. Lows By Strong U.S. Dollar

New York (April 23) A surge in the U.S. dollar index Tuesday has combined with firmer U.S. stock index prices to push gold and silver prices lower and to four-month lows. Overnight losses were extended in early U.S. trading when the USDX pushed to solidly higher levels on the day. The U.S. stock indexes are at or near six-month highs and are not far below their all-time highs scored last fall--underscoring the lack of risk aversion in the marketplace that is hampering gold and silver bulls. June gold was last down $7.60 at $1,270.10.

KitcoNews

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SiMO Low

Works with all videos

MMGYS

[JD400]

Last nights morning blast joke post may have been a BAAA BAAA Bad idea.

https://www.youtube.com/watch?v=sY5MmhLQBng