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Strap in kids, I've got a lot to say......
This has the potential to be a classic Traderneal rant, so strap in and if cursing offends you, skip today's column. You have been warned.
I have been saying for the last couple of years that all roads point to gold and right now the tanks are flying to the endpoint where gold should be exploding to well over $1,000 ounce. Should be is the key word.
Since jobs Friday, we have seen a complete operation in gold where the only purpose is to keep a lid on the price from exploding to above $1000. The Cabal, CB's Da' Boyz, or clueless assholes are running this operation in order to give an appearance that all is well with the worlds finances as a runaway gold prices gives away all the lies that have been foisted upon us.
Today was a classic. Ben goes in front of Congress and says we are willing to cut deeply if we have to. What more does gold need than this? Between Ben's speech today, and Paulson's yesterday where he said that the US gov't is ready to deliver more stimulus if necessary. Well, we all know that more stimulus is going to be necessary and we should all start realizing that rates are going to 1% if not zero. The US is will be Japan in the 90's.
So, a rational, sane person would think this would be extremely bullish for gold, right? No, silly, this is the world's most manipulated, controlled, market on the planet. Yesterday, at it's worse, gold was down $10 while all this crap was going on. And, this was after being nicely higher in Asia the previous night. Guess what, gold, once again, got the smack down delievered to it in Europe. So, after being down, gold managed to claw back to the flat line before closing down around $4.
Today, before Ben's speech, gold once again got the crap kicked out of it as it came into Europe and was down about $5 before Ben spoke. As it became quite clear he was living up to his "helicopter Ben" nickname, gold started to reverse and at its highs was up $5 before giving everything back and closing flat.
Now if gold's action viewed in a vaccum wasn't bad enough, consider almost every precious and non precious metal has been roaring over the last couple of weeks. Platinum has gone over $2,000 an ounce, and palladium is at record highs. Oh yeah, while not a precious metal, oil, which has always been closely linked to gold, is at a five week high, closing over $95 today. Plat, oil, palladium, wheat are all examples of what can happen when markets are allowed to progress unfettered.
In additon to this nauseating action, we have all the top calling morons out saying the top in gold is in. I am so sick of hearing from these people who have absolutely no clue as to what gold is about. It's sickening. At least my boy, Guy Adami, has had zero to say about gold. (BTW, his pick of Blue Nile, which he first recommended at $65, closed today around $40; no word about that either). I can't stomach the reasons they use, from lack of Indian physical buying to deflationary pressures, it makes me crazy.
Now let's talk the other abortion associated with gold, and that would be the gold stocks. In additon to the operation to supress gold, I believe the shorts are having a field day keeping a lid on the gold stocks.
Since the market lows, the gold stocks have squandered countless good days in the market to rally. In fact, there have been several times where gold has been higher and stocks have been whacked. And, god forbid gold has been down a few bucks, well that was cause for the gold stocks to have the shit kicked out of them.
When this ends, I have no idea, but as I said yesterday, I am getting tired of fighting the fight. I really am. It's really not worth the aggrevation anymore. I'm not saying I am selling my bullion or anything drastic like that, but I may stop trading the stocks and the metal itself. It would save me a lot of grief and this way I don't have to be a slave to the price, as I know where it's going long term. I am getting weary of having to play thier games.
You know what, fuck them. At some point these morons who are doing this are going to be the huge losers. They can pull all the bullshit games they want, but they are not powerful enough to fight China, Russia, and the Middle Eastern Central Banks. Hell, they are not even powerful enough to fight the weakness of the US economy.
As usual, all roads point to gold, but this time, all the roads are express lanes.
I have been saying for the last couple of years that all roads point to gold and right now the tanks are flying to the endpoint where gold should be exploding to well over $1,000 ounce. Should be is the key word.
Since jobs Friday, we have seen a complete operation in gold where the only purpose is to keep a lid on the price from exploding to above $1000. The Cabal, CB's Da' Boyz, or clueless assholes are running this operation in order to give an appearance that all is well with the worlds finances as a runaway gold prices gives away all the lies that have been foisted upon us.
Today was a classic. Ben goes in front of Congress and says we are willing to cut deeply if we have to. What more does gold need than this? Between Ben's speech today, and Paulson's yesterday where he said that the US gov't is ready to deliver more stimulus if necessary. Well, we all know that more stimulus is going to be necessary and we should all start realizing that rates are going to 1% if not zero. The US is will be Japan in the 90's.
So, a rational, sane person would think this would be extremely bullish for gold, right? No, silly, this is the world's most manipulated, controlled, market on the planet. Yesterday, at it's worse, gold was down $10 while all this crap was going on. And, this was after being nicely higher in Asia the previous night. Guess what, gold, once again, got the smack down delievered to it in Europe. So, after being down, gold managed to claw back to the flat line before closing down around $4.
Today, before Ben's speech, gold once again got the crap kicked out of it as it came into Europe and was down about $5 before Ben spoke. As it became quite clear he was living up to his "helicopter Ben" nickname, gold started to reverse and at its highs was up $5 before giving everything back and closing flat.
Now if gold's action viewed in a vaccum wasn't bad enough, consider almost every precious and non precious metal has been roaring over the last couple of weeks. Platinum has gone over $2,000 an ounce, and palladium is at record highs. Oh yeah, while not a precious metal, oil, which has always been closely linked to gold, is at a five week high, closing over $95 today. Plat, oil, palladium, wheat are all examples of what can happen when markets are allowed to progress unfettered.
In additon to this nauseating action, we have all the top calling morons out saying the top in gold is in. I am so sick of hearing from these people who have absolutely no clue as to what gold is about. It's sickening. At least my boy, Guy Adami, has had zero to say about gold. (BTW, his pick of Blue Nile, which he first recommended at $65, closed today around $40; no word about that either). I can't stomach the reasons they use, from lack of Indian physical buying to deflationary pressures, it makes me crazy.
Now let's talk the other abortion associated with gold, and that would be the gold stocks. In additon to the operation to supress gold, I believe the shorts are having a field day keeping a lid on the gold stocks.
Since the market lows, the gold stocks have squandered countless good days in the market to rally. In fact, there have been several times where gold has been higher and stocks have been whacked. And, god forbid gold has been down a few bucks, well that was cause for the gold stocks to have the shit kicked out of them.
When this ends, I have no idea, but as I said yesterday, I am getting tired of fighting the fight. I really am. It's really not worth the aggrevation anymore. I'm not saying I am selling my bullion or anything drastic like that, but I may stop trading the stocks and the metal itself. It would save me a lot of grief and this way I don't have to be a slave to the price, as I know where it's going long term. I am getting weary of having to play thier games.
You know what, fuck them. At some point these morons who are doing this are going to be the huge losers. They can pull all the bullshit games they want, but they are not powerful enough to fight China, Russia, and the Middle Eastern Central Banks. Hell, they are not even powerful enough to fight the weakness of the US economy.
As usual, all roads point to gold, but this time, all the roads are express lanes.
posted by Neal | 9:31 PM
2 Comments:
The problem is that it is not just the Gold markets that are being manipulated. It is now all markets. The manipulation by Greenspan in the Gold Markets in the 90's was just the beginning of the end. That is why the GATA suit does not proceed.
Really what do you think that the Plunge Protection Team does when the Dow takes a dump? They buy the stock at low prices in order to bring the market back up. Then they sell the stock back to the private investors at a higher price and pocket the profit. Then they squeeze the investor out again by causing another crisis so that they can buy stocks again at suppressed prices.
Our government, through shadow corporations, now even own most of the businesses. Do you know how to spell Communism? Smoke and mirrors...smoke and mirrors...the illusion that the free market exists is just that...an ILLUSION.
No, Traderneal, no. I am sorry to be the one to inform you that the free market is dead and that we have sold our birthright to the damned C.B.'s for "stability and security"? Somehow I know that you already know it. Somehow I know that you do and that you just need to have your suspisions (my spelling is bad) validated.
Now you know me...I used to be Mr.Gold on Kitco. Then someone took that name when the new forum was created. So now I am Tall Tom.
Tall Tom
I Cor 13
Tom:
Actually, when the PPT steps in, they don't buy the stocks, they buy the underlying futures.
The crisis caused by the gov't are not on purpose but rather they are caused by the desire to keep all the balls in the air.
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