Yesterday we said if the cartel could smash, they would smash. Some might call it a flash-sale, however, which could end at any moment…
On Tuesday morning, it seems the cartel is wasting no time.
The selling was heavy into the COMEX open:
Gold is holding up slightly better.
Peak to trough from last Friday, we can see silver is down some $0.50:
For those doing the math, if the price was say, $20, a $0.50 decline means a free ounce of silver for every 40 ounces!
Here’s a look at gold, silver and the dollar index:
The dollar index hasn’t exactly been surging.
What’s the catalyst for this morning’s silver “selling”?
Simple: The cartel makes more money by suppressing gold & silver prices than letting them rise, because the cartel’s product is unbacked, debt-based fiat, which they can print-up and double-click into existence at will, and the competition to that is honest money – gold & silver – which they can naked-short the dog crap out of at will, and so the cartel will smash so long as they have at least some physical gold & silver to satisfy actual demand.
For the cartel, it’s a “just in time” scramble every month to keep the evil, corrupt fraud going, and for now, the cartel is able to keep it going.
The apologists will come up with their excuses, however, such as:
- A speedy Impeachment that’s looking like an acquittal means nobody needs gold & silver.
- COT Report positioning by the banks (but that assumes the numbers given in the COT Report are the actual, true numbers).
- President Trump kickin’ butt and taking names in Davos, which means invest in the US and the dollar, not gold or silver!
An excuse the apologists can’t use is some economic report that “hit the tape” at 08:30 a.m. EST, because there were no data releases on the calendar today:
This is just the cartel strong arming price into submission.
For now, they can.
More importantly, however, is the fact that stackers can now get silver, not at $18.15 where price was last evening, but under $17.70 where price is shortly after 9:00 a.m. EST, generally speaking of course.
It’s a flash sale!