This post was written on July 14…nearly two months ago. I’m reposting it today for public distribution. I’m not doing this to pat myself on the back or to inspire new subscriptions. Instead, I offer this post as even further proof of the degree to which the paper metal “markets” are manipulated and controlled by the bullion banks, at the behest of the central banks. It also should give you optimism that this current beatdown scheme has nearly run its course.
“Now There’s A Big Surprise”
By, Turd Ferguson
Monday, July 14, 2014 at 9:58 a.m.
It took almost a month but, to no one’s surprise, The Cartel Banks have finally come after gold today. Apparently the weekly close above $1331 was too much for them to take, much like the $1380 close back on March 14. So, now what? How far will price fall before The Leg Hounds finish their business?
If you’ve been around here for a while, you know about The Mississippi Leg Hounds. As Cousin Eddie says, “once they lay into ya, you’d best let ‘em finish their business.” As mentioned in Friday’s podcast, The Cartel Banks added over 100,000 contracts NET SHORT in just five weeks…all in a vain attempt to contain a measly 7% price rally. In just plain old, naked short, fresh paper, they added over 79,000 contracts or nearly 250 metric tonnes of paper metal! WHY?!? Because they had to contain the rally before the charts turned decidedly bullish….and if the charts turned bullish, investment demand would return…and if investment demand returns, from where will the gold come?
After the huge rally of June 19, The Banks were left playing defense. It played out as you can see below:
This post was published at TF Metals Report on September 4, 2014.
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