The Powers That Be Are Screaming For QE And NIRP To Infinity

by Andy Hoffman, Miles Franklin:

I have a LOT to say this morning – all if it, extremely important. But first, let’s start, mere hours before the third Miles Franklin Silver All-Star Panel Webinar – which will be posted at milesfranklin.com later today; with this article from one of our distinguished panelists, Steve St. Angelo of the SRS Rocco Report. In which, it details how Peruvian gold and silver production, in the year’s first two months, are down, unexpectedly, by 11% and 12%, respectively, from a year ago. Which is quite the big deal, as Peru is the world’s sixth largest gold producer – and second largest silver producer, right behind Mexico. Which, I might add, is expected by the Silver Institute, when its final figures are published, to have experienced a roughly 3% production decline in 2016 – with no expectations for 2017 as yet published (which I’m guessing, Steve, David Morgan, and Craig Hemke will have an idea about on today’s call).

What we predicted in the first two Silver All-Star Panels; the first in October 2014; and the second, in January 2016; is coming to fruition; i.e., the production of silver – unlike nearly all other commodities – is in terminal decline. In gold, even mainstream analysts are finally starting to get it – like Standard & Poor’s, as highlighted in December’s “most important, and gold bullish chart you’ll ever see.” However, in the more opaque silver market, information is far less available – given that not only is it a far smaller market than gold (and thus, not as “interesting” to Wall Street); but because roughly two-thirds of global silver production is the byproduct of gold, copper, and lead/zinc mines. Which is why today’s call will be so informative – as unquestionably, it features some of the world’s top analysts in the global silver industry.

Next up, let’s address the wars going on in unprecedentedly rigged financial markets – as the trapped rats I refer to as “the powers that be,” to use a Star Wars metaphor, are “concentrating all firepower” on supporting “desirable” markets like the “Dow Jones Propaganda Average”; and conversely, suppressing “systemic threats” like Precious Metals. To wit, the “200 week moving average war” I have for weeks spoken of – including last month, when it was clear said powers that be had taken it nuclear.

It’s been four years since the Cartel pushed gold and silver prices below those key technical levels; “coincidentally,” the day after the unprecedented “closed door meeting” between Obama and the top “too big to fail” bank CEOs on April 11th, 2013; which just happened to coincide with Goldman Sachs’ April 10th “short gold” recommendation; one day before the April 12th “alternative currencies destruction” paper raids were perpetrated.

It was just two weeks ago – four years after said paper raids – when these all-important technical resistance levels were re-breached to the upside; in gold’s case, at $1,246/oz, suggesting this war has been decidedly won; and in silver’s, $18.14/oz. – depicting a war that continues to rage – given that after the past two days’ vicious Cartel raids, this is exactly where silver is trading.

Two days ago, I expanded on said “200 week moving average war” in this week’s Audioblog – when I discussed the equally important “downtrend line war”; i.e., gold’s potentially near-term breakout (at roughly $1,285-$1,290/oz) above the downtrend line created by 5½ years of post “point of no return” Cartel manipulation – going all the way back to September 2011’s “Operation PM Annihilation I” attack on Labor Day Eve, as “dollar-priced gold” hit its all-time high of $1,920/oz. This, mere hours after one of the most violently gold-bullish events imaginable; i.e., the Swiss National Bank instituting its ill-fated peg of the Franc to the dying Euro. Since then, the Cartel has had to defend said “line in the sand” during the 2012 European banking crisis – when Mario Draghi was forced to proclaim he’d do “whatever it takes” to “save” the Euro; followed by the aftermath of last year’s BrExit; and finally, Donald Trump’s “surprise” election victory. And now, despite no specific political or economic crisis occurring (albeit, with many potential crisis on the verge of arriving), they are being forced to defend it again – per the title of an article l wrote last month, “to the death…theirs.”

Which couldn’t be more apparent the past two days – when, amidst an environment of interest rates and the dollar itself plunging to post-Election lows; as the fraudulent “Trump-flation” propaganda meme continued to experience a death by a thousand cuts; the Cartel had the gall to not only use its time-tested blitzkrieg paper gold dumping strategy on the COMEX – as always, just before the London “fix” at 10 AM EST; but two days in a row!
Yes, following Monday’s egregious 2:00 PM “crybaby attack” – when gold, in the wake of the three-day weekend’s horrifying retail sales report and escalating North Korean tensions, was attacked using cover from a meaningless, but blatantly orchestrated Steve Mnuchin speech; the Cartel’s “commercial” partners-in-crime not only dumped $3 billion worth of gold Tuesday morning; but again, with no other markets materially budging, on Wednesday morning – in both cases, as gold was attempting to take out said “downtrend line” at roughly $1,285-$1,290/oz; with the added “bonus” of pushing silver back down to its 200 week moving average, where the aforementioned “war” continues to rage on this morning.

Yes, following Monday’s egregious 2:00 PM “crybaby attack” – when gold, in the wake of the three-day weekend’s horrifying retail sales report and escalating North Korean tensions, was attacked using cover from a meaningless, but blatantly orchestrated Steve Mnuchin speech; the Cartel’s “commercial” partners-in-crime not only dumped $3 billion worth of gold Tuesday morning; but again, with no other markets materially budging, on Wednesday morning – in both cases, as gold was attempting to take out said “downtrend line” at roughly $1,285-$1,290/oz; with the added “bonus” of pushing silver back down to its 200 week moving average, where the aforementioned “war” continues to rage on this morning.

Read More @ MilesFranklin.com

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Author: MM

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