When the Rothchild’s HKMEx was launched in 2011, much of the metals community assumed that the COMEX & LBMA, were they not to outright default, would fade into irrelevance with the advent of the new Asian metals exchange.
Two years after the exchange’s launch however, in perhaps the most glaring evidence of physical gold & silver shortage to date, the HKMEx has announced it will voluntarily cease trading, and all open positions will be closed out and financially (cash) settled on Monday 5/20!
Click here for more on the HKMEx ceasing all trading and cash settling all open positions:
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The financial media would have you believe that everyone and their dog has given up on the precious metals market. But as Peter Schiff humorously remarked perhaps a few months early: The gold & silver bull market is dead! Long live the gold & silver bull market!
On this week’s show, we discuss the recent action in the metals & markets, including:
Testing of $22/silver and $1320/gold next week, with the potential for a capitulation spike low as soon as Sunday’s Globex session- silver could see a spike low to $18-$20, & gold a $1200 handle
Examination of fundamentals: Nothing has significantly changed
Physical versus paper demand trends in both the West and Asian markets
George Soros and another documented case of financial media spin
Click here for the latest SD Weekly Metals & Markets!
Each passing day, the world gets closer to a total collapse of the global fiat monetary system. After the United States unilaterally terminated the convertibility of the U.S. Dollar to gold in 1971, the world has been settling trade on borrowed time. It was full faith in the dollar and U.S. Treasury market that allowed global trade to continue for 4 decades.
However, faith in the dollar is waning as debts, derivatives and dishonesty plague the financial system. Most analysts (including many in the precious metal camp) are wasting time debating over the mere symptoms and not the disease itself.
We must remember, debts are nothing more than “Energy IOU’s.” To pay back a debt, energy has to be burned so the market can generate goods and services. Thus, this allows for growth to continue which provides a surplus of wealth enabling the repayment of debts.
The problem the world is facing, is not the huge amount of derivatives or debts, but the availability and affordability of its future energy supply. Actually, the world has not been able to afford the energy that it has been consuming for quite some time now. Basically, the world (especially the U.S.) cannot not afford its way of life, so it has created a system of debts and derivatives to cover up and mask the problems.
The collapse of the dollar is already taking place. It has more to do with energy… than most realize.
Click here for more on the coming collapse of fiat currency:
The tactic by the Fed and Central Banks is to inflate the stock markets while manipulating the price of gold and silver lower. This achieves two goals: 1) it reassures the public’s faith by pumping up stock prices while the economic indicators continue to deteriorate and 2) it elevates the dollar while it destroys market sentiment in the precious metals.
So far, the strategy has worked. Some of the toughest gold and silver bugs are becoming extremely frustrated and downright bearish. You can’t blame them as this is typical human psychology. Although, extremes and manipulations never last forever and at some point in time they reverse.
If we look at the next series of charts, we can see just how extreme the gold & silver markets have become. In typical inflation-hyperinflations, stock and commodity asset prices rise together. However, since the Fed announcement of Q3, only certain asset classes have risen — mainly stocks, real estate and to a lesser extent, bonds.
Click here for more on The Fed manipulating PM’s to control the beginning states of hyperinflation:
Once again after trading in a tight consolidation range throughout the Asian and London sessions, gold and silver have just been greeted with a vertical Demon Drop Waterfall smash, sending gold back to a $1300 handle, and silver to $22.41.
A re-test of the correction lows of $22.005 and $1320 appears imminent.
Click here for more on the cartel’s latest raid & the imminent retest of the lows in gold & silver:
What would you think if someone told you the following?
“Three times this week, I am going to tell you the low price of gold with near perfect accuracy, and one of those three times, I am going to tell you events that will precede the low and the exact time that gold prices will crash.”
You would likely conclude that either:
(1) I am somehow directly involved in setting the price of gold in paper derivative markets, or
(2) that since nearly perfectly predicting gold price movements three times in one week in a free market is impossible, that such an accomplishment would serve as indisputable proof that gold markets are rigged and manipulated by bankers, as none of my predicted price targets depended upon technical chart analysis of any kind.
So let’s summarize my calls regarding gold price movements on three separate occasions last week, and why I feel that the accuracy of these calls serve as indisputable proof that Central Bankers and their agent bullion banks manipulate the price of gold and silver.
Click here for more on the indisputable PROOF that the cartel is manipulating gold & silver:
The G-7 are meeting this weekend outside of London. This was unscheduled and can only be considered as an emergency meeting.
I have maintained all along that a “bank holiday” would ultimately occur which sets positions in cement while a revaluation of assets and currencies takes place.
My guess is that the end game is in fact being discussed. How best to shut the current system down, reboot another one AND retain as much power as possible. I truly believe that preparations are being discussed here and now “how best” (for them) to close out this current chapter of world finance. All of this has been discussed and planned years ahead of time, these are not fools. The current discussion is merely about pulling the trigger.
Click here for more on the Emergency G-7 meeting & the elite preparing to pull the trigger on the current financial system:
Many in the precious metals community are eagerly anticipating a complete systemic collapse of the financial system because as “preppers”, they expect to not only survive, but to prosper in a SHTF scenario. We suspect however that the following MUST READ account of surviving the Bosnian war in the midst of a complete collapse of the grid will be eye-opening in just how difficult it is to survive a full-on Mad Max scenario, even if one has spent years preparing for it.
I am from Bosnia. You know, between 1992 and 1995, it was hell. For one year, I lived and survived in a city with 6,000 people without water, electricity, gasoline, medical help, civil defense, distribution service, any kind of traditional service or centralized rule.
Today, me and my family are well-prepared, I am well-armed. I have experience.
It does not matter what will happen: an earthquake, a war, a tsunami, aliens, terrorists, economic collapse, uprising. The important part is that something will happen.
The following is my experience: (Click here for more)
Turd Ferguson of TFMetalsReport.com joins Eric & The Doc this week as a special Gust Host on the SD Weekly Metals & Markets!
On this week’s show, we’ll cover a number of topics, including:
The Doc’s recap of physical market trends and the continuing physical gold & silver shortage
Massive and unprecedented physical demand in Asia, coinciding with a historic draw-down in GLD inventory
Prospects for a summer rally in bullion
TF discusses a massive shift in the silver COT, as the commercials have doubled their long position since QE∞ was announced
Click here for the SD Weekly Metals & Markets with Guest Host Turd Ferguson!
In the wake of this week’s further confirmation from EU Finance Minister DiselBoom that depositor bail-ins are headed to banks across the Eurozone, Jim Sinclair has sent an email alert to subscribers, warning investors to Get out of the system or financially perish.
Sinclair states that the financial flood-gate is straining (hence Bernanke’s unwillingness to even appear at Jackson Hole much less serve a new term), and that the further can-kicking of the mother of all meltdowns is no longer possible. Sinclair’s plea to investors and depositors alike is to: Ethically And Legally Exit The System While You Still Can!
Click here for Sinclair’s alert to EXIT THE SYSTEM NOW!!