gold bull
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David Morgan, Alasdair Macleod, & Bill Murphy join The Doc & Eric Dubin this week for a special Precious Metals Round Table edition of Metals & Markets, discussing: 

  • Is JPMorgan sourcing silver by the warehouseload- directly from the miners via financing global miners’ refining? 
  • Dhragonomics: ECB only 1 step behind Japan- paper fiat currencies on way to collapse in 2015
  • David Morgan: Fundamentals reflect $4800 current value in gold- physical shortage may develop in 2015-2016, resulting in a MASSIVE MANIC/PANIC stampede into metals & mining shares- something could lite a match to the gasoline filled warehouse of this market tomorrow!
  • Alasdair Macleod: Dollar strength distorting the picture- Gold has doubled vs Ruble in past year, all hell is breaking loose across the currency markets- 2015 will be the year for gold
  • Why the short sellers CANNOT be taken down by standing for delivery- is the entire game RIGGED?
  • Bill Murphy: Gold and silver may just Go Bonkers in 2015!  When this blows, we will have the MOST HISTORIC MOVE IN HISTORY

You won’t want to miss the Power Packed Special Edition of Metals & Markets With David Morgan, Alasdair Macleod, & Bill Murphy breaking down whats in store for gold and silver in 2015 and beyond:

gold bottom

The firmly entrenched bearish opinions in recent months for the outlook for gold and silver have backed off from recent extremes.
There is confusion in dealers’ minds, brought about by the threat of deflation and the collapse in oil prices.  Whereas hedge funds would automatically sell gold whenever they detected dollar strength, this is no longer the case.   Precious metals now seem to be responding more to the threat of global financial instability triggered by a strong dollar, and fund managers are selling other commodities instead. Indeed, it is remarkable that despite the USD hitting new highs against nearly all currencies, 
gold has not only held its ground but is actually rising.

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The US Government has suddenly become aware of the derivatives mass financial destruction risk.
In the recent omnibus finance bill a clause was hurriedly inserted transferring derivative liabilities to the Government in the event of a bank failure.  What is alarming is not that this reality has been accepted by the politicians, but the hurry with which it was enacted.
Instead of a normal consultative procedure allowing the legislators to draft the appropriate clause, the wording was lifted at short notice from a submission by Citibank, which has some $61 trillion-worth of derivatives on its own books, with virtually no alterations.   Either the insertion was correcting an oversight at the very last minute or, alternatively,  it has suddenly become an urgent matter for the too-big-to-fail banks.
The coincidence of current market volatility and this hurried legislation cannot be lightly dismissed and suggests it is the latter.

Putin ammo shortage
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Gold & currency expert Alasdair Macleod joined The Doc & Eric Dubin this week for an EXPLOSIVE show discussing: 

  • End game to Russian Ruble collapse: Putin may take the Ruble onto the GOLD STANDARD- if Russia detonates this Nuclear Financial Weapon, the West is DEAD! 
  • Macleod: ABSOLUTELY NO GOLD STOCK IN THE MARKET SUB $1200!
  • Did the US/Saudi Arabia plan the oil crash to collapse Russia & the Ruble? -Putin’s counter-move could result in an EPIC BACKFIRE for the West
  • Is a Global currency crisis is in the making!?!
  • Alasdair provides his outlook on gold & silver, and explains why 2015 is likely to be an EXPLOSIVE YEAR for the metals after a prolonged consolidation- but PM investors won’t like what comes along with MASSIVELY HIGHER gold & silver prices! 

The MUST LISTEN Metals & Markets With special guest Alasdair Macleod is below: 

Alasdair Macleod

This week has been extremely volatile for oil, currencies and stock markets.   Against this background gold and silver have drifted sideways to slightly lower, which given the dollar’s strong performance is almost a positive result.
There was a slight frisson of excitement over the release of the FOMC minutes on Wednesday, to be followed by Quadruple Witching Friday.
Stock index futures, stock index options, stock options and single stock options all expire on the third Friday of December. The result is the Dow 30 Index rose by 4.3% between Tuesday’s opening and last night’s close on an enormous bear squeeze.

Image: Jonny O'Callaghan

Given the short time involved, it is clear that there is a major change happening in cross-border trade hardly noticed by financial commentators.   But this is not all: sanctions against Russia have turned her urgently against the dollar as well, and together with China these two nations dominate and carry with them the bulk of Asia, representing nearly four billion rapidly industrialising souls.
To this we should add the Middle East, most of whose oil is now exported to China, India and South-East Asia, making the petro-dollar potentially redundant as well.

While the talking-heads are debating the effect on Russia and America’s shale, they are oblivious to the potential tsunami of dollars just waiting for the opportunity to return to the good old US of A.

Gold Eagle

Gold was the safe haven this week.
This week precious metals continued their recovery, with gold up $35 at $1220 and silver up about $1 at $17 Friday morning, thus building on the improved trend since gold bottomed nearly $90 lower at $1132 on 7 November.
Gold seems to be finding support at the 50-day moving average (MA), which currently stands at $1198 and now rising.
The 200-day MA is at $1246, which suggests supply at this level could cap the rise for the moment: these levels matter to technical traders.
On Comex there is evidence of some buying of gold futures, as opposed to bear closing, which is reflected in the rise in net contracts for the managed Money category shown in the chart below:

beach ball

It turns out the Swiss referendum last weekend which sought to force the Swiss National Bank to maintain 20% gold reserves was a red herring so far as precious metal markets are concerned, and set up precious metals for the sharpest rally seen in years. 

gold

Gold had a volatile week, but rose from $1147 last Friday afternoon to a high of $1205 on Tuesday.
On Wednesday the price moved between down $25 on the latest opinion poll on the Swiss referendum, then recovered to $23 before falling again on the release of the Fed’s FOMC minutes.
However, despite these unsettling swings gold rose on the week by about $30 overall, making it two weeks in a row as shown in our first chart.

Caption Contest 1

China’s reasons for accumulating gold.
We now know that China had the resources from its trade surpluses as well as the opportunity to buy bullion.
Heap-leaching techniques boosted mine output and western investors sold down their bullion, so there was ample supply available; but what was China’s motive?

flash smash

Trading in precious metals was quiet until Wednesday morning, when prices began to soften.
When the FOMC meeting released its policy statement at 2.00pm EST, gold and silver responded by falling heavily, with gold breaching the $1200 level Thursday and silver crashing through $17 to a low of $16.33.
Friday morning gold and silver fell further in overnight ahead of the London opening, with gold trading down to $1173 and silver brokw below $16.00.
It is clear that the bears, including the bullion banks with short books, mounted an attack on the $1180 level, where there were stops to take out.

So a major test is taking place and the bears are winning…

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In the first half of our new interview with Alasdair Macleod we discuss the November 30th Swiss gold referendum and what it might mean for the Bankster’s central banking Ponzi scheme.
We also discuss Majestic Silver CEO Keith Neumeyer’s move to withhold physical silver sales – and his idea to form an OPEC-like mining cartel to break the back of the paper silver manipulation. 

Alasdair Macleod’s Full interview on BREAKING THE CARTEL is below: