Golden Accumulation Opportunity - Jim Willie CB
Actually, the golden opportunityis for buying silver at current prices. The
motive for lifting the USDollar was the gargantuan $115 billion in USTreasurys offered
this week. With bond yields rising from gargantuan supply,
the USGovt and USDept Treasury and USFed did not wish to have
both bond principal values fall and the USDollar fall. So the
witch doctors engineered a meager semi-lifeless US$ rally, and
a full 100-cent silver price discount. The claim again came that
the bond auction bid/cover was strong at over 3:1 ratio. But
1.0 of that comes from the primary dealers who are bound to bid.
The rest came in majority from foreign central banks. Same Modus
Operandi by the Big Boyz. The difference is that precious metals
were taken down in price, using the typical naked shorting of
futures contracts sponsored and endorsed by the USGovt, which
refuses to enforce the regulatory requirement to maintain 80%
metal in inventory. Heck, we could all bring down the price of
cotton, and make boxer shorts (jockeys too) cheap, if we all
were permitted to sell in gargantuan quantities without benefit
of cotton in possession. The Little Boyz are happy either way,
since the cotton has the right feel. Now is yet another opportunity
to gather in gold, and especially silver, at a hefty price discount.
The silver price after some stabilizing days will be ready for
a serious assault on the $20 price level. See the brief technical
review later in this article.