*** Gold related post ***
>>>I don't have the link but I just read an article that the CB's have already sold 506t this year which is 6t over the agreed upon 500t. That handcuffs the CB's for the remainder of the year. It could be the reason why the OI has grown dramatically. It's the last defense against the Specs. JMHO. What do you think?<<<
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Before anyone starts jumping for joy over the fact that the CB's appear to be handcuffed, they should realize that the latest Washington Agreement doesn't include ALL of the world's CB's, nor are the CB's restricted from leasing their gold to the bullion 'banksters' for the purpose of selling it into the spot market to help cap the PoG when they think it is to their advantage to do so.
For all we know, there may have been other instances where the CB parties to the WA sold more than their allotment but weren't dumb enough to get caught..... <g>
I suspect that this 'news' was meant to entice more gold bulls into the game before the powers that be decide to lower the boom.
In my view, it's just the old, "Come into my parlor, said the commercial to the spec" scenario being replayed for the nth time.
The OI will continue to grow for as long as the specs want to continue pressing their bet.
Maybe I'm goofy, but the fact that everybody and their uncle is so bullish right now suggests to me that the smart play will be to use some near term strength in the PM's to take some profits.
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