Loading ...Buckaroo Banzai Sat, 08/18/2018 – 20:22 Permalink
Shorting gold at US$275/ozT…(REFERRING TO THE YEAR 2000)
Where did they think it would go? Zero?!
They were wrong then and they are wrong now…but for different reasons.
Gold is heavily manipulated so when that need for manipulating the price down goes away you will see (ballpark) US$2500.oo/ozT gold.
Manipulation is to keep the US$ more attractive than gold. Now you have the Chinese and Russians holding physical by the tonne…divesting UST’s. They are playing the “long game” against the US$.
What is the scope of the long game?
When the Americans have only gold contracts and China/Russia have all the physical, what do you think will happen?
There is a paper/physical market seperation coming. Physical is quietly backing a basket of BRICS against the US$.
Is Trump going to attempt to crush the rest of the world’s economic value or join the US$ in that basket of currencies?
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exartizo platyops Sun, 08/19/2018 – 07:28 Permalink
Stop stacking for now.
I’ve seen the “supply/demand” arguments on ZH about the price of gold for years.
It’s all complete BULLSHIT.
Supply and demand have nothing to do with the price of gold RIGHT NOW.
Neither does the “cost” of gold.
Gold is being held in a trading range to benefit equities and cryptocurrencies, both owned by the Banksters.
Eventually that will change.
NOT NOW.
https://www.zerohedge.com/news/2018-08-18/gundlach-warns-bond-bears-massive-increase-shorts-could-cause-quite-squeeze