- AGXIIK on why Ukraine is a stare-down contest between the West & Putin, & what is likely to happen when currency wars devolve into hot wars (there is no safe haven except physical gold & silver!)
- Bitcoin Mt. Gox implosion: isolated event or a warning to Bitcoin holders?
- First they ignore you. Then they laugh at you. Then they attack you. Then you win: Why Bloomberg’s in-depth coverage on bullion banks manipulating the London fix gold price has substantial implications on how close we are to the END GAME
- AGXIIK discusses his attempted firearms up-training of 27 federal high security guards: “They looked like a one-legged monkey trying to have sex with a bagpipe“
The SD Weekly Metals & Markets With Special Guest Host AGXIIK is Below:
Mt. Gox owner Mark Karpelès intercepted by protestor; Source: YouTube
Gold and silver are marking time. Further advances this week were capped. But as we noted on last week’s show, despite all the volatility gold managed to gain over five bucks on an end-of-week basis, while silver did dip but bounced off its 200 day moving average two times. This is nothing more than the calm of “managed retreat” capping before the next move higher. I believe we have very good odds of seeing gold over $1,400 and silver testing $24 by the end of March. Fundamentals justify it, and while sentiment has improved slightly bears still dominate the landscape — a contrary indicator.
One of the more interesting stories to hit the wires this week was Bloomberg’s coverage of a draft research paper written by New York University’s Stern School of Business Professor Rosa Abrantes-Metz and Albert Metz, a managing director at Moody’s Investors Service. Albert Metz was not writing on behalf of Moody’s, to be clear. But this duo are taken seriously by the mainstream. They determined that unusual trading patterns around 3 p.m. in London have occurred surrounding the time when the London p.m fix is set by five bullion banks. Bloomberg reports:
“The structure of the benchmark is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality,” they say in the report, which hasn’t yet been submitted for publication. “It is likely that co-operation between participants may be occurring.”
While it’s encouraging to see the mainstream US financial media start to take this subject seriously, they’re well over a decade late to party. The Doc and I speculate on the meaning of the U.S. media’s willingness to touch this subject now after trying their darnedest to ignore it, and then ridicule it over many years. The story can’t be hidden anymore and the U.S. media will likely seek to get in front of their piss-poor coverage all these years, with a bit more willingness to cover precious metals manipulation going forward. Arse covering, as it were. But there’s probably a bit of value letting the broader business community in on the reality of precious metals price suppression if we are indeed moving through the “end game” in the coming months and couple of years.
For your weekend perusal, I highly recommend the latest episode of “Cross Talk” from Russia Television. This show has become one of the most lucid and objective television programs covering geopolitics. This episode is no exception. It includes the analysis of Ron Paul Institute for Peace and Prosperity’s Daniel McAdams. Click here to check it out — your Ukraine “red pill” for the weekend.
Thanks for tuning in,