Gold and silver were in the usual capping mode today, although silver managed to finish the week on a slight gain.
I am liking silver more and more here, and am not adverse to some small buys at regular intervals with a longer term time horizon. Nibbles, if you will.
Today was all China and Greece. China rallied so everyone had a good day. I think this is just the end of Act I, and direct your attention to the comparison of the Shanghai Composite and the Nasdaq in the dot.com bubble.
As for Greece, we had florid headlines about ‘Tsipras is destroying Greece’ today.
Greece is playing a rough hand, and playing for time. What else does one think they would have gotten out of the Berlin blockheads, a workable solution? Hah! Why should that happen now, when the crony capitalists have been pushing so hard for deprivation first, and then privatization and a general looting of productive assets next? This is a well-established pattern.
I think this was laid out in a pretty straightforward manner a couple of weeks ago. But the sturm und drang is certainly diverting, especially the German hubris and the Greek negotiation tactics. You cannot adequately follow the game unless you understand the objectives.
The drama in gold and silver is now laid bare for all to see. Anyone who doubts the rigging in the PRECIOUS METALS is not to be taken seriously anymore.
This post was published at Jesses Crossroads Cafe on 10 JULY 2015.
Follow on Twitter
Recent Comments