FOFOA and its hardcore followers look at the world through shiny gold-colored glasses. The folks at FOFOA believe the future value of gold is heading to the moon, while silver gets flushed down the toilet.
Here is one of their excerpts:
When the coming paper illusion price of gold is destroyed, sending its trading price way up and way down, several times, before shutdown… the thinner paper markets of lesser metals will be absolutely devastated. Yes we will see $50.00 silver in our time… $50.00 for a hundred ounce bar that is! No less a relative price decline for the other metals is in store. Even if these actual dollar numbers prove incorrect… relative inflation adjusted prices will show the exact same ratios to gold. The gain will truly be in gold!
In the MUST READ article below, SRSRocco delivers FREEGOLD an intellectual smackdown and makes the case for MUCH HIGHER silver prices:
We had a huge addition of 3.57 tonnes in gold inventory at the GLD; thus the inventory rests tonight at 705.47 tonnes. The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the comex is bleeding gold. I am sure that 700 tonnes is the rock bottom inventory in gold.
I believe anything below this level is just paper and the bankers know that they cannot retrieve “paper gold” to send it onwards to China.
- Gold and silver back above key support/resistance levels- Time For Another Managed Retreat by the Cartel?
- Will Bo Polny’s Latest Call Be Correct and Gold and Silver Surprise to the Upside in June?
- The Doc & Eric Dubin Discuss Tyler Durden’s Theory That the ECB is Intentionally Triggering Greek Bank Runs- Is a Greek Collapse Really in the ECB’s Interests, or is a Bail-in More Likely?
- Eye of the Storm- Why Eric Believes Things Will Get Interesting Come July
The SD Weekly Metals & Markets Wrap With The Doc & Eric Dubin is Below:
Window-dressing or the management of prices for a favourable mark-to-market valuation at year-ends, half-years and quarters has long been a distorting feature in financial markets.
And, with bank capital adequacy ratios at stake, not to mention traders’ bonuses, it has been an increasing feature. With the onset of June 30th it seems reasonable to expect this factor to be a reason why gold and silver prices have generally failed to reflect escalating systemic risk in the face of Greece’s insolvency and a developing bear market in bonds. Indeed, losses from bonds are bound to encourage window-dressing of banks’ short positions as an off-set, and they are generally short of gold and silver futures contracts.
Gold’s breakout today was nice to see; I’m a bit concerned that silver’s rally failed, and that the mining shares treated the breakout as more of a ho-hum than a cause for excitement. As a result I’m a bit cautious about today’s price action. Gold shouldn’t be leading the charge, it should be silver and the miners, and they are the ones holding back right now.
Silver appears to be bouncing along a low, finding support at 15.75-16.00. Both metals have had a whole lot of Commercial short covering action last week, which is bullish. Yet commodities look to be weakening, oil is looking for direction, and…that brings us to this week’s next bit of excitement which is the latest FOMC statement, which is released tomorrow.
- Kranzler Explains Why Silver Manipulation Right Now is the MOST EXTREME IN HISTORY!
- Silver Open Interest Soars Over 191,000, Highest OI EVER!- 1 B Oz of Paper vs 50 M oz of Physical!
- Cartel is losing control of the market- UTTERLY FAILING in This Week’s Attempts to Smash Silver Under 16!
- The ULTIMATE BLACK SWAN That NO ONE IS LOOKING FOR!
- Greek Crisis Nears End-Game- Greek Depositor Bail-in & Capital Controls This Weekend?
- London Source- London Will Be Out of Silver to Send to Refiners By Sept/Oct!
- Silver & the Shares Will Be the Best Performing Assets of 2015- Big Money Expecting MUCH HIGHER Prices!
The SD Metals & Markets With The Doc, Eric Dubin, & Fund Manager Dave Kranzler is Below:
Watching gold ignore the silver take-down this early a.m. and subsequent silver snap-back is amusing and very telling. The sharp contrast is more profound than typical. From the start of this secular bull, I can only recall a handful of early a.m. trading days like today’s pattern of divergence/snap-back.
This is VERY unusual trading action.
Later this month, and perhaps within a matter of days, silver will swing back and lead the rise within the precious metals complex as sentiment shifts again and the bull phase recovery off of May’s trashing becomes clear to paper western trading jockeys and JP Morgan and friends are forced to back off on silver naked shorting, “managed retreat” style.
We’re going to have an awesome summer for precious metals, much to the surprise of almost everyone.