MF4: From my point of view the take down of the precious metals looks to be a coordinated effort. What legitimate trader would put out a 500 ton sell order on gold at one time? Central banks of countries that still may have a future are buying gold. China is already bypassing the US Dollar as a reserve currency by signing direct exchange trade deals with all of their trading partners, like Australia, Brazil, Russia, etc. The US Dollar is going to get squeezed out eventually. Once the Dollar's status as the world's reserve currency is undermined the rest of the world won't have to stock pile Dollars to conduct international trade. Hello $8.00 a gallon gasoline just like they pay in Europe. It is incredible to me how fast we are deteriorating as a nation, economically, politically, philisophically, morally and eventually militarily...(because we will not be able to fund the military we have and will need in the future).
So, while I don't like being underwater on my commodity investments, I will maintain my positions because I don't want to hold equities other than commodity producers. I don't want to hold Dollars per se, especially in any bank account. Cyprus was just a warning shot..it is clear that kleptocratic governments like Uncle Sam will resort to anything to keep the Ponzi scheme alive. Your bank accounts are no longer safe. I know I'm a buyer of physical silver at these prices, if I can get my order filled. I bought GDXJ twice today, and I'll continue to buy more if it retreats further. Gold is not going to be manipulated lower forever. Last week's manipulations led to today's margin calls and forced selling. We'll hit a bottom and the smart money will take advantage of the dip and buy.
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