Thank You Jamie Dimon for Illegally Smashing the Gold Price AgainYes, another Friday smashdown in order to herd those buying on margin into shorting against themselves to protect against massive losses. This follows on from the CME repeatedly raising margins in 2011 and Jamie Dimon's theft of clients assets from MF Global and PFG Best.
Silver is smashed down even more, in order to sucker some into arbitraging between the two precious metals; dumping gold in exchange for silver; the oldest trick in the book. But it's gold that the banksters are short of.
But I've secured a price for my next batch of physical gold. Let's see the banksters smash the price even more. Go on I dare you!!! Ha ha! These thieving banksters are freakin' hilarious and belong in jail!
Why don't you banksters lobby to get gold confiscated? See what happens then! so what's your opinion here? do you think it's time to sell out or buy in gold? my aunt also followed the tide to buy some gold for investment when the gold price hit record-low one or two months ago. she asked me how to deal with that equity.so what's your advice? June 6 - Bloomberg: "Global markets will face increased volatility as central banks bring interest rates back to normal levels, JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said. 'We should all hope for a normalization of interest rates -- that's a good thing,' Dimon said ... 'As we go back to normal, it's going to be scary, and it's going to be kind of volatile.' Investors have been encouraged to buy riskier assets as global central banks unleashed unprecedented monetary stimulus after the financial crisis of 2008."
So you blindfold someone, tell them that God is coming and that they'll know he's arriving when the ground shakes, at which time they should drop their pants and prostrate themselves on their hands and knees. Then you violently shake his/her/whatever chair and shout at the top of your voice, "God is coming! God is coming! All kneel before the Lord".
The reason why QEInfini3 and QE4Ever were made open ended was so that they wouldn't have to announce, QE5, 6 . . . . QE∞. Then, in the very first month of QE4Ever, they started talking about tapering with Dallas FED's Dick Fisher consitently voting against QE to give the impression that the decision is finely balanced rather than the dead cert. for the next two decades, "extended period" that it really is. There are five asset classes:
Shares and bonds are offering negative real rates of return.
Property is massively overvalued relative to earnings.
Cash is being printed in the US, UK and Japan at a 30~40% annual rate.
Commodities are in over-supply.
As Pimco's Bill Gross says, there are bubbles everywhere. However, gold is undervalued and a new gold standard is the only solution to the massive western debt problem. If you don't know what you're doing, then get out of the casino
Gold traders turned bearish for the first time in a month as investors reduced holdings in exchange-traded products for an unprecedented 17th consecutive week and India, the biggest buyer, announced curbs on imports.
- Gold Bears Return as ETP Rout Extends to 17th Week: Commodities
This stinks of manipulation. If there was a reason for dumping gold, they would have done it 16 weeks ago. Instead, they've been hammering gold every week and a reason for the sell off is conspicuous by its absence.
Meanwhile, demand for physical is rocketing, the LBMA, ABN Amro and some swiss banks are defaulting on gold and Germany has to wait seven yeras to get her gold back.
In other commodities, six of 11 people surveyed expect raw sugar to drop next week . . . ..
And the inclusion of other commodities in this propaganda article is to give the impression that gold is just another commodity even as central banks continue to buy it and the euro is used for over 40% of international trade compared to less than a quarter for the dollar. This means competitive currencies or a "currency war" and competing currencies will, inevitably, back their paper with gold. No other commodity gets this treatment from Bloomberg BS.
Most don't have the time to research the markets. Yet, under a fiat paper standard, everyone is in the casino and has their bet placed. Only under a gold standard, where they can't print gold out of thin air, do the masses leave the casino by taking possession of gold. This is why the banksters, goons and thugs hate gold so much. The fiat paper standard is just another tax and the biggest of all. It's that tax that just keeps on taking.
The only restraint on the paper printing is the risk of a hyperinflationary run on the currency. This is why Japan announced (with great fanfare) that she would almost double her monetary base in two years and (initially) stated that she would buy US treasuries. This is why the ECB announced the OMT, with the result that the USDEUR fell (when you'd expect the EUR to fall) despite the harsh fiscal criteria that came with OMT and the absence of any nation actually using it. This is why the BoE is going through the pantomime of debating another ￡25bn in QE, despite the UK's monetary base (M0) having "only" increased from ￡93.766bn to ￡354.069bn since QE started and meaning another ￡114.697bn of the ￡375bn still remains to be used. At best, this is a debate about the final exchange rate under the new monetary World order. So, assuming the BoE buys two thirds of gilts and the treasury borrows ￡120bn this year, then the rate of inflation would be 22.6%. Japan's doubling in two years is 41.4%. The FED's $85bn a month on the current base of $3.4trn is an annualised 34.5% rate of inflation.