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Buy PHYSICAL Gold. NOW: The Discount of a Lifetime: Or Why You Must Abandon the Fake Paper Gold Market
For previous articles by the author go to: Gordon Gekko's Blog - http://www.gekkosblog.com
They just showed their hands. The paper Ponzi pyramid is wobbling. It’s time to go in for the kill.
Let me explain. But first let’s get a handle on what’s happening:
“We’ve traded gold for nearly four decades and we’ve never … ever… EVER… seen anything like what we’ve witnessed in the past two trading sessions,”
Dennis Gartman, via The New York Times
“This is an orchestration (the smash in gold). It’s been going on now from the beginning of April. Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance…it is the Fed’s concern with the dollar because the dollar is being printed in huge quantities at the same time that other countries are abandoning the use of the dollar as international payment.
The exchange value of the dollar is (being) threatened, and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it’s an act of desperation because they’ve got to establish in people’s minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies.
And to help protect this policy they have convinced or pressured the Japanese to inflate their own currency. The Japanese are now going to print money like the Fed. They are lobbying the ECB to print more. So I see this as a dollar protection policy...I know where the gold is coming from in the market, it’s just paper. It’s naked shorts, there is no gold there. If somebody wanted to take delivery on those contracts nobody would be able to provide it. I don’t know what the source of the (physical) gold is...
..I think the power of the West has already been lost. When you have off-shored your manufacturing and professional service jobs, you’ve hollowed out your economy. So gold or no gold, the United States economy has been severely damaged and I don’t think it can recover...
This gold business (smash in price) is something to do with the dollar….They are trying to destroy gold as a (safe) haven from the dollar in order to carry on the Fed’s policy of negative real interest rates. That is what is driving the illegal policy of selling naked shorts in order to manipulate a market. If you and I were to do something like this without the government’s instruction or protection, we would be arrested. So the fact that it’s illegal, being done by the authorities, tells me that they are seriously worried about the dollar.”
(All emphasis mine.)
Paul Craig Roberts, Former Assistant Secretary of the Treasury (via King World News)
If there is one thing this latest shock-and-awe “theater” in the Gold market tells us, it’s that the government and banksters (i.e. the oligarchy) must be REALLY pissing their pants. It doesn’t show their strength – it lays bare their weakness. They just made it abundantly clear (again) how important Gold is in their scheme of things. A rapidly rising Gold price would reveal the utter fraud of their paper money Ponzi scheme and reveal them as simple hucksters, charlatans and scamsters counterfeiting money and hiding behind all the elegant regalia. The emperor would be naked. Can’t let that happen. The franchise of the paper dollar – arguably the most profitable franchise in history enabling theft on a global scale - must be protected at all costs. Something is or must be about to go seriously wrong with their empire of fake paper money (perhaps the recent gyrations in the JGB market is a tell).
With this recent paper Gold market “drama” they have only shown their desperation and weakness. The level of their desperation this time is so great that they had their bought-and-paid-for shills in the media mouthpieces attack and mock Gold and its buyers even before the sell-off (which further goes to proves that it was orchestrated; I’ll provide more evidence below). Consider this in an article “Lust for Gold” which appeared in the New York Times on the 11th April by none other than the lead bankster shill and cheerleader Paul Krugman:
After all, historically, gold has been anything but a safe investment…John Maynard Keynes famously dismissed the Gold standard as a “barbarous relic”, noting the absurdity of yoking the fortunes of a modern industrial society to the supply of a decorative metal…for a while, rising gold prices helped create some credibility for the goldbugs even as their predictions about everything else proved wrong, but now gold as an investment has turned sour, too. So will we see prominent goldbugs change their views, or at least lose a lot of their followers.
Its funny how the paperbugs liken Gold buyers to a cult, while not realizing they themselves sound like one, with their irrational faith in and defense of paper money (well, not completely irrational - they know where their next paycheck is coming fromJ). While I may provide a full rebuttal to Mr. Krugman in a later article (it barely deserves one, childish and inane as it is), I will point out this: If Gold is so inconsequential and such a “barbarous relic”, why is the government lapdog media busy trying to discredit it and all those who buy it? I mean just look at the sheer gloating:
From the Business Insider:



The WSJ also joined in the fun:

I’ll tell you why - because underneath all the bullshit they are spewing they know that buyers of Gold are not actually buying anything but voting against their paymaster government and bankster oligarchy. There is nothing spectacular about Gold except for its ability to reveal the truth about the scam being run by our ruling feudal masters, and this is the one and only reason why Gold and all those who buy it are so vilely derided by the establishment.
The global economy is still in shambles and the oligarchy have shown that they can’t do ANYTHING of ANY real consequence except manipulating the public opinion – either via “market” shenanigans or media mouthpieces. Just think about it – a global empire, a powerful and apparently invincible oligarchy threatened by just an inanimate piece of metal. But they know that because all their power is based on lies and deception, a simple truth - the rising price of Gold indicating the massive dilution of currency - can completely destroy it. Having become thoroughly corrupt, impotent and incompetent, unable to fix anything (they couldn’t run a lemonade stand if their lives depended on it) and fast becoming desperate with Gold having risen more than seven-fold from about $250 in 1999 to $1900 in 2011 exemplifying the worthlessness of their paper money and reality catching up to them, they did the only thing they knew: attack the messenger - Gold. It’s a short term fix which perpetuates their paper money franchise and thus their power, but longer term it’s meaningless. It doesn’t fix the massive misallocations which have occurred and are occurring due to central control of money via the paper money system and it doesn’t change one bit of the truth of the present dilapidated state of our economy and society which is a direct result of it. In fact it’s making the situation worse as by not allowing the misallocations to correct and reallocation of capital to productive hands to occur, huge amount of scarce resources – both human and material – continue to be wasted on unproductive enterprises.
Unless and until the following factors are no longer true, there is and will remain a case for buying Gold. These factors did not vanish overnight because of a single orchestrated plunge:
1. Exponentially increasing Government and private debt
2. Exponentially increasing money supply
3. Consistent rise in the price of items of daily need (yes I know there is no “inflation” but anybody who goes to the supermarket knows what a crock of bullshit the government CPI numbers are)
4. Rising unemployment and falling incomes
5. Corrupt government and politicians
The banksters are acting like a child throwing a tantrum because daddy (Gold) is going to take their toy (paper money) away from them, so they simply wail and try to hit back at daddy, as if that would accomplish anything. People who know the truth should simply sit back and laugh at the banksters and their shenanigans while using the opportunity to buy even more.
The Discount of a Lifetime
The way this price fall occurred makes it clear that there were NO fundamentals behind the move and, paradoxically, strengthens the case for Gold even further. Let’s take a look at exactly how this latest plunge in Gold price happened (via Ross Norman):
The gold futures markets opened in New York on Friday 12th April to a monumental 3.4 million ounces (100 tonnes) of gold selling of the June futures contract in what proved to be only an opening shot. The selling took gold to the technically very important level of $1540 which was not only the low of 2012, it was also seen by many as the level which confirmed the ongoing bull run which dates back to 2000. In many traders minds it stood as a formidable support level... the line in the sand.
Two hours later the initial selling, rumored to have been routed through Merrill Lynch's floor team, by a rather more significant blast when the floor was hit by a further 10 million ounces of selling (300 tonnes) over the following 30 minutes of trading. This was clearly not a case of disappointed longs leaving the market - it had the hallmarks of a concerted 'short sale', which by driving prices sharply lower in a display of 'shock & awe' - would seek to gain further momentum by prompting others to also sell as their positions as they hit their maximum acceptable losses or so-called 'stopped-out' in market parlance - probably hidden the unimpeachable (?) $1540 level.
The selling was timed for optimal impact with New York at its most liquid, while key overseas gold markets including London were open and able feel the impact. The estimated 400 tonne of gold futures selling in total equates to 15% of annual gold mine production - too much for the market to readily absorb, especially with sentiment weak following gold's non performance in the wake of Japanese QE, a nuclear threat from North Korea and weakening US economic data. The assault to the short side was essentially saying "you are long... and wrong".
The CME's 10% reduction in the required gold margins in November 2012 from $9133/contract to just $7425/contract made the market more accessible to those wishing both to go long or as it transpired, to go short. Soon after we saw the first serious assault to the downside in Dec 2012, followed by further bouts in January 2013 - modest in size compared to the recent shorting but effective - it laid the ground for what was to follow. One fund in particular, based in Stamford Connecticut, was identified as the previous shorter of gold and has a history of being caught on the wrong side of the law on a few occasions. As baddies go - they fit the bill nicely.
The value of the 400 tonnes of gold sold is approximately $20 billion but because it is margined, this short bet would require them to stump up just $1b…. By forcing the market lower the Fund sought to prompt a cascade or avalanche of additional selling, proving the lie ; predictably some newswires were premature in announcing the death of the gold bull run doing, in effect, the dirty work of the shorters in driving the market lower still1.
(All emphasis mine.)
If someone is selling anything, the rational thing to do would be to get the best price possible, right? Would you get the best price if you sell your lot in one go flooding the market? Would you want to overwhelm all the bids and crush the price? Yes, but only if exactly that was your objective – to crush the price. Nobody sells 400 tons (!) of gold in one go if they are trying to get the best possible price. So this wasn’t a case of varied market participants selling their gold holdings having considered the fundamentals for Gold and arrived at the conclusion their long position didn’t make sense anymore. This was a case of concerted selling by one single entity whose sole intention was to drive down the price. Not only that, nobody sells $20 BILLION worth of Gold in ONE GO without some sort of state/CB backing. You think some piddly hedge fund manager would have the balls to do this while risking prosecution and jail time? So not only was this market manipulation, but state-sponsored market manipulation completely unrelated to the reality and the fundamental basis for buying Gold, which remains as strong as ever.
But it gets better. While this is the probably the most spectacular takedown of the Gold price ever, but by no means is it the first or the only one. Anyone who has actually traded the Gold futures market for any length of time knows that this happens on a regular basis. So basically the government/Central Banks use the paper gold futures market as a price control mechanism for Gold (of course, they can’t impose price controls on Gold overtly as it would reveal the lie - if Gold is a barbarous, meaningless relic why would you need to impose price controls on it?). But what happens when price controls are imposed on something? Shortages start to occur resulting in an even greater moonshot in price than would have otherwise occurred. A “black” market (which is actually the free market at play and depicts the true price of the commodity) eventually emerges where it sells at a premium to the official price. There are two reasons for this:
1. Buyers - aware that the commodity/good is available at a discounted price - beat a path to the door of whoever is foolish enough to sell it at the government mandated price. Availability at that price soon runs out.
2. The good becomes even scarcer as the costs of producing and selling it are no longer covered by the government mandated price. Aware of this, sellers withdraw from the market and demand ever higher prices for the good.
And remember: for marketable goods, the “out” is money, but the only “out” for money is a superior form of money. When the paper currencies become unstable, the only “out” is Gold so you can be sure there will be no lack of buyers, only sellers – and there is no upper limit to high it can go. Theoretically, the price will be infinity when no seller is willing to sell Gold in exchange for paper. You want to be “out” of paper before we reach that event horizon.
If the rigging in the futures market keeps continuing, the futures price at some point will decouple from the physical and become meaningless. This is exactly why you should use this opportunity to buy as much physical as possible at discounted prices while there are foolish sellers still willing to sell at the stated official (futures) price. I’m sure many of you remember Gold’s spectacular fall from about $1000 to $680 circa 2008. How many of you have regretted not buying at those levels while you have been watching Gold’s inexorable rise since? You’ve been waiting for a price drop, haven’t you? So what are you waiting for? We saw the same scary headlines in the MSM that we are seeing now with the same bullshit reasons – while the reality hasn’t changed ONE BIT. Some media mouthpieces are proclaiming a bear market in Gold has begun while others are hoping that their paymasters’ moronic ideas are finally working but remember this is the same media that sold you real estate before the bust, the same media that sold you DOW 36000, the same media that sold you Obama’s “hope and change” and has pilloried gold and gold buyers whenever its price crashes but has been largely silent throughout the past 13 years of the gold bull run. There’ve been many of you saying Gold is too expensive and waiting for an opportunity to buy in. Well, the banksters in using the futures market as a propaganda vehicle against Gold have unwittingly provided you with one. Overcome your fears for fortune favors the brave. It’s time to go in for the kill.
Don’t Pick Pennies In Front of The Steamroller – Get Out Of The Paper Markets
First, you must be clear why you are buying Gold. Sure, paper gains are nice to have but are only a side effect. The real reason is this (from one of my previous articles):
Any type of financial asset that has a counterparty – which is pretty much all the paper assets in the world – bonds, futures, any and all derivatives and yes, even the paper currency – will crash. What will they crash against? Yes, that’s right - Gold. All the world’s capital – trillions, perhaps quadrillions of it - will come rushing into the very tiny physical (NOT paper) Gold market. Remember, the world’s real physical capital – real assets such as land, oil-refineries, mines, infrastructure, etc. will not vanish, only it will be re-priced in terms of Gold and its ownership transferred to those who hold it. Since everything stays on this planet, it is a zero-sum game and the winner will be Gold. In other words, an ounce of physical Gold will command a lot more in real purchasing power than it does today. Just like a national currency is a claim on goods and assets within that country, Gold will be a claim on global goods and assets worldwide.
In other words, wealth preservation in the face of a currency collapse and an insurance policy against the idiocy and depredations of our monetary masters.
For those of you who have read my work, this current smash shouldn’t come as a surprise. In fact – not to beat my own drum – but if you understood and followed my advice, you would have been out of the paper markets and not affected one bit by these shenanigans. If you wish to trade the paper market for short term paper gains, by all means do it (at your own risk though - and you just saw what that “risk” looks and feels like), but in the end always – ALWAYS – convert those paper gains to real profit by buying the physical metal because Gold will never ever attain its true price in the futures markets. They can always issue an unlimited supply of naked paper contracts. The following extract from one of my previous articles explains the reality of the futures market:
The futures market is nothing but a tool for the dollar managers (US Government/Fed/Bullion banks) to manage/control the price of Gold. Any rational observer with an iota of brain who has watched the gold market for any reasonable length of time can tell that the price is intentionally driven down during the Comex trading hours. If you don’t believe this, either you’re in denial or worse – collusion - and IT WILL end up costing you big time. Given the massive, concentrated and long-term (the entire past decade - they haven't been net-long - not once - during that time period) nature of their short positions, it really isn’t that hard to deduce that the banks do not nearly have enough metal to cover their shorts and that the sole intention of the massive short position is to control the price. Whenever the price rises (or threatens to rise) the big bullion banks ala JP Morgan create massive naked shorts introducing fake supply of Gold in the market, thus driving the price down. “But the price has been rising for the past decade, hasn’t it? So how can you say they are driving it down?”, many people ask. Well, the constraint on the bullion banks has been the availability of the physical metal. If the metal is not available, the fraud of the paper market is exposed and they lose their price managing ability. So they allow the price rise to a level at which there are some weak hands willing to sell and then they hold it there till all the sellers have been exhausted (I am assuming the Fed has already sold all the US Gold during the past decade). So strong are Gold’s fundamentals that despite the massive rigging, all they have been able to do is slow its rise. The weak hands who sell the physical metal at every price rise have helped them in this endeavor. But soon, as the bond market implodes, they will run out of sellers. Treat the availability of real metal at today's paper price a gift and buy as much as you can.
To those who think that the Comex shorts will be crushed one day and the price of paper Gold will do a moonshot, to them I will say that you are dreaming. The Comex shorts will be crushed, but not in their own casino! If and when a majority of paper Gold longs demand delivery a force majure (who do you think the US Government will side with?) will be declared with cash settlements and/or offers of equally worthless GLD shares (don’t tell me you didn’t know about this). By some accounts, this is already happening. What will happen to the paper price then? That’s right – it will utterly collapse even as the physical’s price is rocketing. Paper gold holders will dump it all to buy the physical – which, unfortunately – will most likely not be available at all…in light of the sum total of the recent developments mentioned in this update I think it is too risky to be trading right now and one should just sit 100% in physical Gold and some currency for day-to-day needs…Trading paper markets for paper gains is like picking up pennies in front of the steamroller. It’s time to stop trading and just buy the physical metal….
They don’t have nearly enough Gold to cover all the contracts they’ve sold in the market. If you’ve bought one, stand for delivery. I’m sure many will be offered cash premiums in place of Gold. Refuse. Demand the metal. This is the right time to tighten the screws on them while they are vulnerable having sold 400 tons of non-existent Gold in the market. Getting out of the fake paper market and collapsing it will have a threefold benefit:
1. Buying physical with cash preserves your anonymity and safeguards your wealth in your hands away from the prying eyes of the looters posing as “the government”.
2. Counterparty risk is eliminated as there is none. You’re home free.
3. The fake paper market will collapse due to non-availability of the physical and non-participation of the majority. The sooner it happens, the sooner Gold will attain its true value and the emperor will be naked for all to see. This fake money system needs to collapse so the work of reallocation and rebuilding can begin. The cancerous tumor of banksters needs to be eliminated from the economy.
Make no mistake, this is a war. A war for your freedom, liberty and life. They have won the battle but they are not going to win the war. It is upto you to make sure they don’t take you down with them. Those buying gold are not in it for the short term pleasure of paper profits but because they understand that it is the only way to safeguard your wealth and a claim to a chair when the music of the paper pyramid Ponzi finally stops.
To me, the only question is: Who Would I Trust With My Wealth?
This:


Or This:

The best time to buy is when there is blood in the streets. That time is NOW.
So don’t panic. Just buy the physical, sit back, relax and enjoy the show!
1. Some people may find this description of events to be too “conspiratorial”, but rest assured, if anyone does the diligence, I’m sure they won’t find things differently. This is how things are “done” in the “markets” today.
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Dollar toilet paper a safe place..... HA ha HA HA ROFLMAO
Have fun with this blast from the recent past:
http://dailybail.com/home/must-see-gold-stupidity-from-tv-reporter.html
Like many others, she actually believes what she says. I'm not sure if that's more hilarious or frightening considering she is alleged to be an "economics commentator."
A dumb blonde, despite the hair color.
She's probably right though is clueless about what she is saying. It is obviously paper gold and GLD she is talking about...backed by nothing. The give away is when she says (paraphrase) investors are worried about gold not being around next year whereas dollar backed by Fed will be.
I think the Germans forced the FED into doing this. It was probably on their schedule anyway, before the Bernank retires, but by requesting their physical the Germans moved up the timetable. It forced the FED to give them a 7 year timetable to have time to fight the Gold WARS. It did not want a run on physical to affect their war.. That and the legal tender effort started by some western US states.
"Germans forced the FED..." how? with the leverage that all those German military bases in the US gives them? or is it the other way round?
btw, there is no "Gold War". the metal is just part of the current Currency War - and not even an critical part - the critical part is the reserve status of the USD
meanwhile I'm doubtful that "the legal tender effort started by some western US states" is going to be more than a gesture
but who knows? after all those Krugman rants about how we eurozoners should break up from our currency union perhaps someone starts to think this way in the USD currency union, too
now this would be an hilarious unintended consequence
Relax, no insult intended against the Germans. Zero stopped me from editing to correct the focus. They were smart to ask for their Gold back. 7 years???
All skirmishes in a larger war
7 years. Take it or leave it. The only real card the U.S has had on the table for a long time is the MIC.
Remember the old joke about the USSR: Upper Volta with missiles!
Only it wasn't a joke. I mean we're talking medieval outside the cities and even there, unless one is a member of the nouveau riche, it's pretty pathetic. All those posters yapping about the evil of suburbia should visit and see what's is like when there are no suburbs - just massive, old, smelly public housing circa 1940. Talk about a dichotomy - Russia has always had an oligarchy and this is no different. The ruling class (Putin and his minions) live like czars while the "peasants" get by.
Bathrooms atrotious (nasty, never cleaned), restaurants sucked and still rampant alcoholism but it was pretty and the people were friendly.
actually it was my reply stopping you from editing - and did not see it as insult to anyone - more an objection to the "forced" meme which is running rampant, imho. like in "Cyprus forced to..."
according my book, forced is the correct term for the resolution of things like the 1847 Don Pacifico Affair, where a bloody fleet gets deployed
Currency Wars, War on Terror, War on Drugs, War on Poverty...
Boris nostalgia for Cold War, know who is enemy (evil capitalist or naked communist)
war on everything except war
cold war was cool, I agree. kepts lots of things simple
The first picture looks like an illustration from a textbook about criminal insanity.
The second picture.......lovely, My kind of tangible.
"looks?"
Go. To. The. Coin. Shop. What? You're saving the cash for something else? Overpriced College tuition, no way dude, that's a scam. A diamond ring for your mediocre entitled Western girlfriend? Please, I beg you, don't. A new flat screen TV or iPhone 5, a new car, some overpriced drinks to hit on so-so chicks? This is not the right time for that. Buy gold. Buy silver. Buy some peace of mind. Gold has no counter party risk. You can't print it. It has secrecy in an age of Big Brother monitoring all other financial transactions. And, there's a huge paper market for it that is crashing and the dealers are still selling the physical for the same basic price. This is a once in a lifetime opportunity, in my opinion. Buying gold right now is like stepping out from in front of an onrushing bus with two seconds to spare. Waiting till later (for those without any yet) is like trying to stop and pick up a coin in the street first.
http://www.singledudetravel.com/2013/04/back-up-the-truck/
Where? Oh, where?
Has all the gold gone?
Most all 'Mom & Pop' coin/bullion shops have none. Zip! Zilch! Nada!
Major dealers have a limited supply and quotas in place. Mints are now saying up to 6-8 weeks deliveries and not taking any further orders until the current back log is cleared.
The 3 year gold and silver charts are both showing RSI's in record low territory.
Yet, the price of both precious metals langueshes! Manipulated? You bet your ass they are! BTFD - NOW!
THATS IF YOU CAN FIND ANY!
Charlie,
I called our largest coin dealer who has 6 (SIX) gold coins in stock. I am heading over to purchase two. No better time. I do disagree about the emminent crash of paper, particularly the dollar. In fact, I believe the dollar will be one of the last standing currencies and it will increase in strength as other currencies (Euro, Yen) are knocked out. Due to its world default status, it will reign until the Chinese begin selling treasuries. Nations like Costa Rica and Malaysia could not function without the dollar as the reserve currency.
Malaysia can easily switch to yuan since they are in that area. Cost Rica, who knows. Dollars’ days are done. Already everyone else in Asia, even Australia, are moving to “no-dollar” trade. Right now. Using yuan trade.
By the time I arrived (note above) they were down to 3 1/4oz slabs (Johnson Mathey) that I picked up quickly. Also got a 1895-0 Morgan (PCGS AU 55) for only $1600 - a steal. Hope everyone found what they were looking for.
Good work. Kitko in HK told me yesterday they were almost sold out of gold, and they "never" sell out.
1 Canadian Gold Maple Leaf and 4 Indian Head silver rounds for $1,525 (approx $1440 + $25.40x4) on Tuesday at my least preferred coin shop - my preferred shop had nothing except 1 junk Morgan which I got for $25.
Just doing my small part to bring it down and building more stacks.
Even though I started in 2007 with 2 Krugerands for $750 each and then silver starting at $10/oz, I've also bought silver at $45/oz - so this is a great time to offset those purchases at higher prices and do some dollar cost averaging.
I avoid foreign currency for one reason - most folks are unfamiliar with it and would be less likely to accept it. If the purpose is a hedge then you're fine but if it is for the inevitable day of reckoning, you want something that folks know. It's why I never collected foreign coins - I was never sure of their validity.
Boris is not have Western Girlfriend or iPhone, but cannot is afford buy Gold. What is price of copper?
Around $3.11/Pound!
Jim Cramer just said gold will go higher.
That's an indication that gold will be going to 0 pretty soon.
That's an indication that the attack is not yet finished.
Yes, you are probably right, and I hope so!!! The bankers in their arrogance, think they can run this game forever. What is occurring, finally, is the paper/physical split. If the banksters were smart, instead of arrogant, they would be watching what is happening at the LCS (local coin store) and be running the price back up, so they could continue their game.
If the paper price stays in the same area, or goes down, in just a few weeks, the LCS and many on line dealers will discover something. that something is an ancient American tradition, the tradition of supply and demand, or..... wait for it..... true price discovery!!!
You see, if you're in business selling something and your price is so low that you sell all your inventory, and then have nothing to sell, why, that's poor business strategy. Why not raise the price until you sell just about as much inventory as you can get?
I know it will be a new concept for coin and bullion dealers, but really, being a businessman instead of a shill for rich dudes in New York who wear $2000 suits, why... it is much more fun. Probably more profitable. And you see, unlike the mining companies, the LCS is usually not beholden to bankers in order to stay in business.
So.... let the banksters hold the price down and the retailers can find the true price. There might be more profit in it for the LCS that way.
Looks like gold has been holding up today, even if miners look to be rolling over again.
Live Spot Gold: http://www.pmbull.com/gold-price/
Check out those bars for just $21 over spot.
While silver has been disappearing off dealer shelves, it seems inventory for gold has remained ok.
Can gold fall further, until it starts to disappear from dealers too?
+1 Thanks Gordo....I have always enjoyed your articles.
Peace and Aloha...
its April 17th, Bay of Pigs day today...
Greeting from me as well, Gordon.
Here's a chart for the weak-willed:
SPDR S&P 500 ETF TrustPlenty of meat on the bones.
GG's (and ZH) perspective would seem more plausible if other commodities and the equities markets didn't all fall dramatically this week.
Explanation?
The Sith do not travel alone!
If that's horsemeat on those bones, I'm galloping outta here.