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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.