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Less talk, more price action, Mr Gold.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/24_Sinclair_-_Shorts_Now_Trapped_%26_Gold_Could_Gap_Up_to_$3,000_files/shapeimage_22.png <<< This guy looks like he could go for a sandwich right about now.
Ain’t goin to cry over no mostly useless, environment destroying, tool for banker oppression.
Jim Sinclair has we believe a very strong position in Gold. (many tens of thousands of tonnes)
This is the Papal Treasury. that was brought to Scotland in the form of tally sticks, redeemable all over the planet. Bishop John Sinclair of Brechin had the honour of performing the marriage ceremony between Mary Queen of Scotts and Lord Darnley, who had issue of King James. Queen Elizabeth 1st had a wee problem, inherited from her father King Henry VIII, who had confiscated Church Property….Spain was going to recover it, with a vast Armarda supported by mercenary pirates. All of this financed by Knights Templar Gold. from Scotland. …especially the Pirates! like Drake etc.
But, realizing that she was about to be burnt at the stake as a heretic and witch, Her Majesty Queen Elizabeth I sent envoys to Scotland to negotiate a way out of certain death and the prospect of Spannish Rule in England. ….Hmmm? quite a fix!
Tally sticks deposited in a large impregnable fortress beside the Southesk River were sent to buy off the Pirates, who had already been paid a substantial deposit by Spain. That Castle still stands today, but the 14 feet thick massive granite block walls have been disguised as a bit of a French Chateau, to improve it’s austere appearance, that did not look very inviting. Guests who entered the gates often feared that it might be their last journey of this lifetime!
They Call the Wind Mariah – Paint Your Wagon
How the New American Empire Really Works ..
Buy some now…
… with what?
Central Banks create unlimitted FIAT. If CB suppress price and you wish earn more FIAT by the same amount of ounces, technically price control with psychology gains on Gold in FIAT will continues. Only when you count your gains in ounces and sell only when you think CB will suppress price so that you can accumulate more ounces is the right strategy.
Well, I’ve had my hoover sucking on the inlet to my gas meter (You can turn them around you know- and they fit- AND they operate in reverse!!!) -Dry-gas bellow meters are a thing of beauty. Only thing is EDF now owe me £14,000 in gas…. Yeah! Oh crap. Scottish power now want £30,000 for the electric.
Looks like I’ll have to buy some more gold next month (Unless I can drill a 1mm hole into the base of my Ferranti Electrtic meter (Draw a line diagnol to diagnol and drill into the centre BUT make sure you put the 1mm drill all the way into the chuck so that only 2mm is exposed and you don’t “go too far” (And this only warks with the Ferranti “projecting front” balanced wheel meters and into the “underneath” face of the bakerlite case) Then strip out a length of 1mm Coax copper centre (TV cable) and then don some rubber gloves (Safety first) and push the copper core through a lump of Blu Tak. Then gently push the core up through the hole you drilled untill it touches the wheel. Then just slide the blu tak up the core until it locks in place against the case and hey presto… Too cheap to meter becomes a reality….. Let me know if any of this advice works as legally, I haven’t a clue…. I’m an alcoholic!
Buy me an ounce!
This has already happened in the paper silver market where the silver speculators could not get the physical to cover and had to pay premiums (upto 40%-50%) to cancel out trades. The powers at be increased the volatility and the margins were increased forcing the longs out. From that point is was very difficult to hold a long fiat silver position with the high volatility and margins =Paper silver price went down and the SLA only took more physical off the market making the physical silver situation worse.
I don’t see this happening in gold yet. Banks/Gov hold physical gold and that allows some flexibility, but the pressure on physical gold is up and the fiat cartels are thinking ahead because of what happened in silver ($50) =May see a price increase in gold just to hold off demand. =Silver will want to go along with gold, but will be held down by naked shorts. Cartel will win at gold (for now), but lose at physical silver even if production would double. =They are hoping gold will hold for now until physical silver production maintain demand.
=This is still a physical battle with physical silver leading physical gold. Fiat gold/silver is a manipulated (fake) market that does not matter unless the physical market is in trouble. If there is physical trouble expect volatility and high margins. SLA understands this and will use every fiat advantage to take physical silver off the market. =All their fiat chaos does not matter.
What do you think of this?
“Forbes reports that China will begin paying Iran in gold for its oil rather than dollars on June 28th.
The legendary Jim Sinclair states that this is the most important event in the modern history of gold, and that gold is officially replacing the US dollar June 28th.
We agree wholeheartedly as this massively accelerates gold’s replacement of the dollar as the world reserve currency.
Meanwhile, the paper trading Geeks mindlessly trade the new reserve currency down to the low $1600′s.”
From Jim Sinclair:
“The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold
1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.
2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.
3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.
4. Gold now is not only money free of liability, but also free from interference regarding settlement by the long arm of Western influence.
5. The SWIFT system is becoming ever more a weapon of Western international political will.
6. In case of war anywhere, it is now demonstrated for all to see that only gold will buy the materials required. Paper currencies are under the SWIFT system’s control in settlement.
7. Far from being a barbaric relic, gold is now clearly the money of state survival in every sense.
8. It is reasonable and possible for the supply of physical gold to fall far behind the size of the massive short positions now common to algorithm and hedge fund paper shorts. That will make an effective cover at a reasonable price as compared to a certain day’s close impossible the following day on an exogenous event.
9. It may not be possible to use TA of any nature to determine a price of overvaluation for gold. Should the USA decide to take on China in full out economic war with the physical market totally illiquid, such as through isolation from the SWIFT system, consider the gold price that might result.
Gold is officially replacing the US dollar June 28th. The cat is out of the bag.
Phil, you are booting any nation that dares to refuse to be legislated by any other body than themselves out of the SWIFT system.
You have officially made gold money. Now what are you going to do, declare economic war on China? They will fire dollars back at you.
You just might end the economic world as you knew it.
The Best Reason in the World to Buy Gold
“Have no doubt, emotions generated by short-term price action will be influencing investor decision-making a hundred years from now. We may have substituted iPad for the telegraph over the past hundred years, but we’re still fairly lousy traders as a species. The real world makes decision based on reality rather than perceptions generated by emotions. Well, at least the real world that stays in business. The Chinese are buying gold while the public panics and sells. Nuf said.”
Headline: The Best Reason in the World to Buy Gold
“Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China’s imports of the metal are already large, and you can guess what additional purchases are going to do to prices. On the last day of 2011, President Obama signed the National Defense Authorization Act for Fiscal Year 2012. The NDAA, as it is called, attempts to reduce Iran’s revenue from the sale of petroleum by imposing sanctions on foreign financial institutions conducting transactions with Iranian financial institutions in connection with those sales. This provision, which essentially cuts off sanctioned institutions from the U.S. financial system, takes effect on June 28.”
Yes, and then the gap closes and everyone starts crying 😉
So, now we see another reason for the US to invade Iran.
If China and India actually do swap gold for oil, the US invades Iran and, as is usually the outcome with the spoils of war, they just walk away with all the current and future gold stack in Iran.
That is if China and Russia let them 😉
But I am always amazed at how ‘surprised’ those traders look on a bad day.
They must live an emotional roller coaster.
But if they knew anything about the business they are in, surely they would be expecting this every single day they go to work.
What are they? Gold Fish in a bowl???
Oh, a rock. Oh a rock. Oh, a rock. Oh, a rock……
Thanks F Beard.
I like this one.
Notice the price of Gas at 1:40
Buy some with the money you earn from teaching English in South Korea!!!!!
I hear ya Max. It’ll be four-to-six months of agonizing debt-defaults and the financial system will go haywire. The feeding frenzy that will ensue will be etched into the history books.