Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
blog.milesfranklin.com / Andrew Hoffman/ April 27th, 2016
It’s early Wednesday morning; on what may, following this afternoon’s Fed decision, and tonight’s by the Bank of Japan, turn out to be a “day of Central banking infamy.” Which is why, before I get to today’s extremely important topic, I’m going to start with my fourth straight day of detailed “manipulation analysis.”
Frankly, nothing I have seen in 14 years in the sector has been as blatant, and desperate, as what I’ve seen in the last week – as the Cartel chaotically attempts, and fails, to respond to the hard fact that dollar-priced gold, silver, and platinum have joined PM markets in the world’s other 180 currencies in BULL MARKETS. And this, ironically, on the five-year anniversary of the May 1st, 2011 “Sunday Night Paper Silver Massacre.”
Thus, when you see a surge like last Thursday, when silver shot up to $17.60 – and gold to $1,270 – before the Cartel swooped in to “save the status quo,” you can be sure markets are simply saying “we’ll be back there soon.” Heck, silver almost got back there this morning (trading at $17.30 as I write); and my guess is, it won’t be too long before not only $17.60, but $18.00 will be in the rear-view mirror. To that end, the “all-time high” silver open interest and “commercial” short positions appear on the verge of proving, once and for all – notwithstanding whatever the Cartel attempts in the wake of today’s FOMC decision – that the “COTs no longer matter!”
As for such manipulative transparency, here’s what I wrote yesterday morning of Monday’s gold “trading” – followed by charts of not only Monday’s; but yesterday’s; and this morning’s trading – amidst an environment of “horrible headlines” such as miserable durable goods, PMI service, and consumer confidence numbers. And oh yeah, last night’s catastrophic earnings report from Apple, whilst Exxon was stripped of the triple-A credit rating it held for the prior 86 years. Not to mention, Bitcoin dramatically breaking out, in yet another glaring example of just how scared the world is becoming of the inevitability of a “cashless society,” featuring negative interest rates. Heck, even CNBC is now openly “fighting the Fed,” in proclaiming it would be “crazy” for them to raise rates.
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Thanks to BrotherJohnF