The gold market is rigged, and a war is going on between manipulators in the West and buyers in the East. There is a full-blown crisis in Western world banking, and a sovereign debt crisis among some weaker nations whose governments will soon be out of money.
Western banks are not strong enough to survive an all-out European banking crisis; the Fed will not stand as the one hawk in the Western world and fiddle while Europe burns; Obama cannot be re-elected if the Fed remains intransigent; Germany will not disown the euro; the world’s governments are not ready to face the economic, social and political fallout standing austere as their economies implode, which they will; and there is no recovery in the US.
The cartel will try to break the gold price again, but they will fail. Gold is going to $3,500 and above. All the lying and conniving only means the price will go higher. Just as JPMorgan’s ‘whale’ could not fight the market, the cartel cannot fight gold in the face of a flight away from all fiat currencies.
“How can anyone in Europe sleep tonight with cash in the bank, even amongst the stronger nations whose banks are loaded with weak nations’ paper. The house of cards is coming down right now. Trying to manipulate the price of gold to hide the crisis at hand is futile.
If you have your positions on margin you are crazy and I cannot do anything for you. All others stand tall because gold will trade above $3,500 and not in some LaLa Land future of Armstrong’s imagination.”
To read Jim Sinclair article: The War Between Manipulation and Buying
BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. Continue reading
BullionBuzz is a weekly eNewsletter that offers investors a quick snapshot of must-read news pertaining to the markets and precious metals. This week: Euro: Current Course Is Leading to Disaster Continue reading
It’s a black or white issue: Either you own uncompromised bullion bars for which you have title documentation that are stored in secure allocated storage, or you have an unallocated account that can be settled in cash at the issuer’s discretion. Continue reading