The precious metals have been under the most intense and concentrated period of downward price manipulation by the Federal Reserve/U.S. Government that has occurred over the last 14 years, except for the summer/early fall 2008. Something really bad is occurring behind the scenes with our economic and financial system that is not yet obvious.
But I have a feeling we’ll soon find out.
Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics:
Some of the clues include the obvious lies and information misdirection coming from Grandma Yellen, Wall Street and the White House. Yesterday’s FOMC announcement/Yellen press conference was one of the most absurdly Orwellian events I have ever witnessed.
The graph pattern above repeats itself almost every night. Gold/silver get smashed when the fraudulent Comex paper trading is at its most active and Asia is asleep. The Asians wake up and resume their furious buying. Gold premiums in Shanghai are as high as I’ve seen them in a long time. Silver has been in backwardation all summer. Then, as Asia closes down the metals get hit again, starting in the fraudulent London market. Wash, rinse, repeat.
But the end is near. In fact, the ONLY difference for our financial system between now and 2008 is the $4 trillion in QE the Fed has printed and given to the Government and the banks. The banks would be collapsing right now if it weren’t for the thick $2.5 trillion cash layer of reserves that banks have stored at the Fed. That’s it.
Despite Fed and Obama proclamations of a recovering economy, the employment situation continues to deteriorate. The housing market, which has been slowly deteriorating for the last year, hit a wall in August. And the supposed shrinking Government spending deficit? Wrong. The real spending deficit is represented by the $1 trillion increase in Treasury debt over the last 12 months. The reported deficit is nothing more than “magic” accounting.
Let’s hope the tragedy that is going to hit our system is economic/financial and not the outbreak of WW3.