Just as soon as this one single event happens, gold, silver and the US dollar will never be the same. The closeness of the event, and the sequence of events that follow is beyond what most people can fathom…
Talking about economic destruction and the “Four Horsemen of the Economic Apocalypse” is not something Jim says lightly, and neither is his analysis on what has been going on in the markets.
According to Mr Sinclair, if we get another smashing like the one on Friday in gold, it is game over, but not for they group you may be thinking of:
To provide some background, here is the action in the dollar on a chart, as well as the smash that took place last week:
We have highlighted dollar weakness all year. In fact, on the day when gold was absolutely smashed with 21,135 contracts dumped in one minute, the US Dollar hit a new low for the year:
Here is a close up of the smash just ahead of Janet Yellen’s speech at Jackson Hole:
The yellow metal was pounded. Jim says the event was well planned, and had been in the works for a long time. Jim jokes that the poor guy who executed his plan when it happened probably hadn’t gone to the bathroom in weeks. But Jim wasn’t talking about the sell order, he was talking about the buy order.
We know what has happened since then. The smashings are less effective than ever before. If it took the broader stock markets weeks to recover off of Black Monday 2.0, days to recover after Brexit, and hours to recover after Trump, then the reverse is now playing out in gold, as evidenced with today’s move:
Silver had an even bigger day than gold, percentage wide, which is only natural price action performance, since the market is so much smaller. That is to say, moves in told are amplified in the white metal: