 I appreciate your taking the time to reply. But there are a few clarifications necessary. The ten year rise has been in a clearly defined channel and is part of a strategy to protect the USD as reserve currency. This is done by the Fed and has involved several banks and obviously even offshore activity in the currency and bond markets. Also, the first word in my post was IF. The Consensus on this site seems to be that the markets are all rigged. I was very careful to say, IF that were true...then....clearly if it is not true the rest of the post was irrelevant. Granted I did admit (in keeping with consensus) that such a pattern was strongly suggestive (if not supportive) of what most seem to believe. I do go on to say that IF true, we had carried on making assumptions of patterns and rationality that did not seem logically consistent with such rigging. It must be one or the other. If it is rigged, it will go where the people doing the rigging want it to go - up, down or flat - and there has been an effort to debase the USD to reduce the impact of debt (don't buy the trade argument). It was not a finger pointing exercise, but a warning that manipulation is manipulation. If it exists it exists in whatever form the manipulator desires. Having said that, Ranting Andy was the first, I think, to time the pops and smackdowns at set times during the day to keep things in channel. I don't think I suggested keeping the price down - it would be a function of the USD, competing currencies and HFT logarithms at the very least....sometime up, down or flat. Flip the gold chart over as a member has suggested here today, and you have the dollar debasement chart. Coincidence - possibly; likely - not so much, but who knows? This all lies at the feet of the Fed and its various agents or not at all (it might also involve or have involved BIS or other CBs who dump or buy gold in the public market and who loan and lease to support one another. If not "managed", the PM is the only non-manipulated market in the world and will behave rationally and predictably. I was simply pointing out it had to be one or the other. I was also implying that having held gold flat for some time, it could stay flat, go up, or go down, but if manipulated its movement would not be as predicable. To be as concise as I can - if there is manipulation, things will proceed in the direction the manipulators want/need/prefer and can engineer. Again the key word is IF. I did not say the price was suppressed, I said it was allowed or controlled within a rising channel. I should have mentioned the correlations that would have had to apply in that case. I assumed a certain level of fore-knowledge by members here. As for lost control, I would be less categorical than yourself. I think they are stupid like a fox. It is unwise to underestimate the cabal. They know where they want things to go, and it is not where people who think they are idiots might believe obvious. They have in mind a new system or paradigm, and they will position gold where they need to, so that they are on the right end of things after the transition. I don't want to defend my perceptions, because you seem to have read them into my post. Obama and the Fed are maxing out their credit cards - for either a change in the monetary system, loss of reserve status or, theoretically, a default. I don't quite think they will go that far, however. They will give up reserve status and will let the USD drop like a stone to accommodate gold revaluation within a new system. To suggest that all this can be done by morons or is not well planned in advance is too big a stretch for me. But please READ CAREFULLY, then respond on point or we will go in circles endlessly. PM will eventually increase, it will have to under the new paradigm (to deal with debt and re-balance the international system to some degree). Until then, unless they slap it down, do nothing. If they do, buy. All will unfold in due course.
My apologies if I did not make myself clear. I do hope this clarifies matters.  Commenté il y a 4194 jours |
| Début de l'article :Yesterday, for the first time in March, the gold price broke through its short-term ceiling of $1,585 and approached the $1,600 mark, while silver moved back above $29. During a press conference concerning the Bundesbank’s annual report, the German central bank’s president Jens Weidmann stated that short term inflationary pressures were subsiding.
As Weidmann – a member of the ECB Governing Council - is one of the strongest opponents of Draghi’s "whatever it takes" approach on monetary policy... Lire la suite |
