Yeh I put in a bid a few days ago at below 1.20 on the basis of...

Yeh I put in a bid a few days ago at below 1.20 on the basis of this knock down.

How long will they continue the knock down of gold and silver? Well since it was mostly naked short selling by the Fed as suggested by the former US Asst Treasury Sec there funds are unlimited and beyond the reach of the law, unless it can be proved...then maybe a massive class action, but good luck with that.

Number of reasons suggested for the take down. The Comex was about to blow up for lack of metals. Repurchase of mostly unbacked gold ETFs. Protect the USD and rates.

Whatever the reason it was and is a massive display of outright corruption of markets by the Fed. So there must be something very big they are worried about. Maybe they see deflation on the horizon and know they will need to accelerate printing, debase the dollar some more.

Usually the gold price closely tracks M2 money supply, for obvious reasons. So the pressure will always be for gold to pop back up to that trend in the absence of manipulation by the banks and Fed. Reports are that physical gold and silver purchasers are at a premium to spot.

But as far as SP of these miners it is the price set by corrupt Comex that is the main influence and that depends on the Fed's and bank cartel's intentions. But in the end they will have a massive problem if physical gold and silver becomes unavailable as I suspect it may do.

These sorts of tactics whilst they may scare people out of their positions also make people scared of what is going down in the financial system and fearfully keep their bullion. Which has usually been a good idea in the collapse of any financial/economic system in history.


One that wont change is that the Fed must print well in excess of $1trillion USD each year to keep the USA funded. That would seem to indicate over the longer term a strong upward pressure on gold and silver.

Can't give a sentiment because I don't know what Bernanke's plans if for the gold price.

DYOR