SD Friday Wrap: The impeachment inquiry’s over? The Fed’s suddenly tightening? No and no. It’s just the cartel preparing for a good old-fashioned beating…
How quickly things change.
Of course, nothing in the real world has changed to anything that would be “bearish” for gold & silver.
Case in point.
Well, actually, cases in point:
- The impeachment inquiry and political in-fighting goes on.
- The Fed is suppressing interest rates 24/7 and monetizing debt like crazy.
- The Middle East is a hot mess, especially all of the Middle East.
- Relations with China are rapidly deteriorating, if they were ever any good anyway.
- Etcetera, etcetera, etcetera.
I could go on.
But I think you get the point?
The fundamentals for gold & silver are strong.
The fundamentals for gold & silver are as they have been, and as they will be.
Therefore, what we have here is some good old-fashioned precious metals price suppression!
But don’t take ‘Ol Half Dollar’s word for it.
Here it from a former Assistant Secretary of the United States Treasury in an interview from just this week (gold & silver manipulation is the first topic we discuss):
Unless a person out there can trump an Assistant Secretary of the United States Treasury, at this point, any manipulation deniers…
What’s the point?
Most people still think we went to the moon.
Otherwise smart people too, or seemingly smart people anyway.
So while I thought the bottom was in not this week, but last week, I’m not so sure anymore.
OK, “Hey Half Dollar, you flip-flop on your gold & silver calls as much as President Donald J. Trump, the best American President in history, ever, grapples with the uber-complex indecision pertaining to the strength of the dollar!”.
Funny, I suppose.
Although I do not choose the cards I’m dealt, for the cartel chooses them and then deals them to me.
That’s why it’s a rigged casino.
But I digress.
Check out this lower-high on silver’s daily chart:
For those who are counting, that’s the 3rd lower-high, and while there is no denying the fundamentals are strong, the cartel has totally painted silver’s daily chart all sorts of bearish in the short term, and if we get a third lower-low?
Furthermore, check-out silver going out on the lows of the day:
That is not the way you want to close out the week before Thanksgiving if you’re bullish silver in the short-term.
Which is another reason why I’m not really bullish in the short-term right now.
Remember, above all, the evil, corrupt bastards make stupid high ill-gotten gains and they make a crapton of profit, like multiples above and beyond any fines they pay, so aside from the occasional “rogue spoofer” who gets thrown under the bus, supposedly, why would this ever stop?
The answer leads into a follow-up question.
And since I didn’t answer the last question I just asked, I suppose I’ll give the answer to the follow-up question without, well, asking: The cartel always makes more money smashing price than allowing it to rise, so if they can smash, they smash.
And if you’re new here, welcome!
You’ll get used to it.
Besides, for as long as it’s nothing but the active participants, the apologists and the enablers running the show, it’s not like we have a choice in the matter, because 99% of the people who are not active participants, apologists or enablers are fat, dumb and happy, or lazy, so anybody thinking there is hope in the Proles, well, Winston thought that too.
He thought wrong.
Gold’s daily chart doesn’t look quite as ugly as silver’s:
That is to say, we’ve got a higher-low thrown in the middle of the lower-highs.
Although it is still not looking good for the bulls.
And going into Thanksgiving week?
It might just turn out to be one final, brutal slugfest before the whole system implodes.
Check-out the prep work being done with platinum:
We could be talking about a 7-handle by next Friday.
One of the various reasons I thought the bottom was in, now more than one week ago, was because the RSI appeared to indicate that enough selling had indeed taken place.
That said, if there is a sell off, which I now think there will be, then we’re definitely going to see the RSI get into extremely oversold territory, so that we may finally begin to rally.
Palladium continues to do its own thing:
Are we really going to see an upside break-out while gold, silver and platinum get clubbed like baby seals?
It would not surprise me one bit if we did see that.
Said differently, nothing in the financial universe makes any sense right now, so it would make complete sense if palladium breaks-out to new all-time highs while gold & silver plunge in price.
Interestingly, crude oil looks like it wants to break-out:
The metals will not stay down for long if the price of crude oil does break-out.
Even copper is maintaining:
Which is yet another clue that the current “weakness” in gold & silver is nothing more than a good old-fashioned cartel beating.
The same thing about a good old-fashioned cartel beating on gold & silver can be said with regards to yield on the 10-Year Note:
Because yield has fallen on the week.
In early September, I said the cartel was ramping yield (selling bonds) to indirectly attack gold & silver, and as such, as yield was rising, gold & silver were falling in price, whereas now, yield is falling, and gold & silver are falling right along with yield on the 10-Year.
Is there anything that could lead to the opposite of what I think is about to happen to gold & silver?
A black swan.
Especially in the Middle East.
It is the weekend, after all, and that’s when bad things happen the most.
The dollar is surging on no particular dollar-positive news:
Although it does provide some nice cover as to why gold & silver are falling, does it not?
The VIX is telling us conditions are ripe for a black swan:
“Traders” and “investors” have been lulled back to sleep, and it took just over one month for it to happen!
Of course, the Russell 2000 still has not made a new all-time high:
Superficially, the Heartbeat of America Index looks to be rolling over, although we do have a bullish golden cross
Only the evil, corrupt insiders know whether RUT will roll over again or surge to new all-time record highs.
Bottom line as we find ourselves here this Beautiful last Friday before Black Friday, 2019 Edition?
It’s amazing how quickly the gold & silver charts have changed to bearish in the short-term.
The cartel just loves to smash on Thanksgiving week since the people are distracted.
And this year the cartel has a bonus distraction in the impeachment inquiry.
So the beating on gold & silver could get really brutal before it’s over.
That said, the fundamentals are still super gold & silver bullish.
So this weakness will not last long at all in my opinion.
On the other hand, if there’s a black swan event?
Like in the Middle East, or a mass shooting?
Then pile on the paper short contracts!
That’s what the cartel will surely do.
And why would they not do it?
It’s free money, free profits.
They can just print more!
Most people care not.
For now, that is.
At one point?
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.