There could be another much bigger raid and Cyprus may be the front runner to desensitize everyone. There could be more shock (Uranus conj. Mars) in Europe over the weekend. Perhaps an epic conditioning experiment and there is risk of this “deposit tax” in American banks next year.
JPMorgan Chase & Co., has won the dismissal of a nationwide investors’ lawsuit accusing the largest U.S. bank of conspiring to drive down silver prices. Ed Steer asks how someone can bring successfully a case against JPMorgan for price fixing in the silver market when the world’s #1 silver expert (Ted Butler) isn’t even asked to supply evidence or testify.
I have not changed my view regarding more weakness in March, particularly near March 20th. Gold guru Jim Sinclair is also posting similar dates as mine so the word is everywhere to expect more correction. I have been advising to watch for a bullish move the first week of April and Jim is publishing the same.
Friday March 15th was an interesting day in the gold market. The Wall Street Journal wrote the following: “U.S. regulators are scrutinizing whether prices are being manipulated in the world’s largest gold market, according to people familiar with the situation. The Commodity Futures Trading Commission is examining the setting of prices in London, in which a handful of banks meet twice daily and set the spot price for a troy ounce of physical gold, the people said.” After four and a half years of quasi silence about the silver price manipulation case, “it appears” from unnamed sources that the CFTC is “discussing” whether the daily setting of gold and silver prices […]
Not only is the industrial usage of silver increasing, but also more and more investors have found their way to the precious metal. For obvious reasons which we discuss extensively on Gold Silver Worlds, silver bullion provides the safety that people need in a world dominated by currency wars, unresponsible acts by governments and unseen counterparty risk.
The media encourages us to believe that practically everything in our economy is either good or getting better. It is not. Trust your instincts and observations more and government statistics and the mainstream media less.
Our focus is on the facts, not the noise. We did some quick checks on the figures and collected the following data. Our conclusion: a lot of focus on the GLD physical outflows, almost no attention has been given to the SLV inflows. The total holdings of all ETF’s combined barely show a change. A lot of fuzz, which we call “noise”.
At a certain point in 2011, the Chinese let their currency go up. Amazingly, right after they did it, their inflation, trade surplus and economy “cooled off”. So the exchange rate was pegged at a new level. That’s when the Fed announced QE3, and the same process started all over.
It is noteworthy how 3 out of the 5 acts of gold confiscation happened in the decade following the Great Depression of 1929. Also, the red line between the different confiscations is that the governments were in desperate need of money OR were in a state of destroying their own currency.
During the first days of March, especially the silver coin sales have been disproportionately high compared to previous years. Mind that the following tables show the first five days of March 2013, while the full month is shown in the years before.
Euphoria in the stock market. The reason is obviously this gigantic move in the US stock indexes, mainly the Dow Jones Industrials Index, breaking into historically record high territory. Enough reasons to think that the risks of an economic crisis are gone? Let’s look at what is happening from several points of view.
In his latest piece Peter Degraaf calculates that it is now 78 weeks ago since the gold price reached a new all-time high. He compares it with the correction of 2006 which took 71 weeks, and the correction in 2008 which took 77 weeks. In his article, he shows 13 different charts which are characterized by extreme and mostly historic readings.