Gold Daily and Silver Weekly Charts – Quod Erat Demonstrandum

Jon Blogosphere, Economy, Fiscal Policies, Gold, Market Commentary, Precious Metals, Silver

Gold and silver were under some serious pressure after a mid morning hit that was particularly blatant and clumsy.
The pressure continued steadily most of the day with silver really taking it hard.
The Fed minutes came out around 2 PM, and the equity and the precious metal markets headed north like scalded cats, because of the decidedly dovish flavor of the Fed talk.
Is there anyone, and I mean anyone, who reads what I write here who is surprised by this? If so, then I must not be doing a very effective job of explaining that The Recovery is not yet sustainable, and the Fed must continue ‘priming the pump’ in a somewhat neurotic attempt to invoke the appearance of growth and vitality where none exists.
And why is this? Because the system has not been reformed, and the financial sector and the one percent continue to take, by far, the greatest share of this monetary stimulus and shove it into their own tax avoiding pockets, and the public be damned.
After the Fed minutes came out, a few of us crossed emails saying, ‘is there any doubt why they hit gold and silver this morning?’
There is almost NO doubt in my mind that the Fed and their Bankster owners are actively managing market perceptions while they continue their failing policies, all in the virtuous name of ‘instilling confidence.’

This post was published at Jesses Crossroads Cafe on 08 OCTOBER 2014.