Continuation of my prediction for a RIDE:
Normally, I wouldn't simply just copy and paste, but sometimes someone else just points out the truth, and you can't improve on it. Here are excerpts from Harveyorgan. blogspot.com
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Gold closed down $18.50 to finish the comex session at $1647.60, whereas silver closed down 51 cents at $30.88. When the CME announced late Thursday night that they were going to lower gold and silver margins, I was just waiting for an attack. We certainly got one today.
The whack occurred despite oil being up and also the Euro was higher. There was absolutely no reason for the attack, but then again, the criminal bankers do not need a reason. All they need is to have the regulators on their side. Actually, all they need is for the regulators to sleep during the day and the bankers do the rest.
The silver OI released at 1:30 pm today also gave enough reasons for the bankers to raid as again the OI rests above the 150,000 mark. It is totally fruitless to discuss actual gold/silver trading as these two precious metals are manipulated around the clock.
Eric Sprott gives an interesting interview with Eric King, of Kingworldnews where Sprott has noticed that scrap coming into the refiners is down and in some cases over 50%. We are now reaching a point where owners of gold refuse to part with it. Sprott is of the opinion that a default will occur at the comex shortly.
In paper stories, the G7/G20 meeting is this Friday and the agenda is a discussion of halting currency wars.
The big news of the day came from Italy, where we learn that the Central Bank of Italy lent 2 billion euros worth of sovereign bonds to Monte dei Paschi who swapped worthless mortgage backed securities. Then Monte dei Paschi swapped the sovereign bonds for freshly minted euros. The problem: this was secret and not disclosed. Three days after receiving the euros, executives of Paschi stated that their bank was solid
In Spain, the citizens did not buy the release of Rajoy’s income tax returns. The populace are very angry and they are ready to throw this bum out.
France continues to spiral down a never ending vortex as its leading car manufacturer Peugeot had to write off another 4.7 BILLION euros on top of another loss. There is no question that a bailout or nationalization of this car company is in the cards. Peugeot only operates in Europe and not in the two stronger areas: the USA and China.
In France, the government controls 56% of French GDP. Very soon it will be 100%.
In a surprise move, Argentina’s President Cristina Fernandez de Kirchner decided to ban all advertising.
This nation is heading for hyperinflation shortly.
.............................The citizens of Venezuela are in total shock as to the surprisingly 46% devaluation of their currency the bolivar falling from 4.3 to the dollar to 6.3. The reason for the devaluation was due to the shortage of foreign reserves i.e. namely the USA dollar. The devaluation helps somewhat in that category but it also stimulates massive inflation.
..............................n USA news, food stamps again are on the rise. And the economy is getting better?
Also zero hedge discovered that most of the dollar printing in the USA is heading to USA based foreign banks. No wonder the Fed should be audited.
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I still feel that there's going to be a bumpy ride coming. If you wanted to get into buying silver, I would say that it's a good time. The price is below $31.00. It may get even below $30. But I still believe there's going to be a rise. There really has to be. But as I've always said, because of manipulation by countries, banks, and the cartel; that silver and gold may be something you might have to sit on for a little while. There's 3 main reasons to buy metals. 1) You believe there's going to be a major financial/economic/currency crash; 2) You are buying to offset inflation for your retirement and future; 3) You buy to offset and pay down debt and/or to buy things at a discount. All 3 reasons are good reasons. Obviously, there are different results depending on which of the 3 future scenarios happen. But I think having some silver and maybe gold, that you can sit on, is a very good thing. Keep watching. CYA: SE:
Normally, I wouldn't simply just copy and paste, but sometimes someone else just points out the truth, and you can't improve on it. Here are excerpts from Harveyorgan. blogspot.com
*************************************************
Gold closed down $18.50 to finish the comex session at $1647.60, whereas silver closed down 51 cents at $30.88. When the CME announced late Thursday night that they were going to lower gold and silver margins, I was just waiting for an attack. We certainly got one today.
The whack occurred despite oil being up and also the Euro was higher. There was absolutely no reason for the attack, but then again, the criminal bankers do not need a reason. All they need is to have the regulators on their side. Actually, all they need is for the regulators to sleep during the day and the bankers do the rest.
The silver OI released at 1:30 pm today also gave enough reasons for the bankers to raid as again the OI rests above the 150,000 mark. It is totally fruitless to discuss actual gold/silver trading as these two precious metals are manipulated around the clock.
Eric Sprott gives an interesting interview with Eric King, of Kingworldnews where Sprott has noticed that scrap coming into the refiners is down and in some cases over 50%. We are now reaching a point where owners of gold refuse to part with it. Sprott is of the opinion that a default will occur at the comex shortly.
In paper stories, the G7/G20 meeting is this Friday and the agenda is a discussion of halting currency wars.
The big news of the day came from Italy, where we learn that the Central Bank of Italy lent 2 billion euros worth of sovereign bonds to Monte dei Paschi who swapped worthless mortgage backed securities. Then Monte dei Paschi swapped the sovereign bonds for freshly minted euros. The problem: this was secret and not disclosed. Three days after receiving the euros, executives of Paschi stated that their bank was solid
In Spain, the citizens did not buy the release of Rajoy’s income tax returns. The populace are very angry and they are ready to throw this bum out.
France continues to spiral down a never ending vortex as its leading car manufacturer Peugeot had to write off another 4.7 BILLION euros on top of another loss. There is no question that a bailout or nationalization of this car company is in the cards. Peugeot only operates in Europe and not in the two stronger areas: the USA and China.
In France, the government controls 56% of French GDP. Very soon it will be 100%.
In a surprise move, Argentina’s President Cristina Fernandez de Kirchner decided to ban all advertising.
This nation is heading for hyperinflation shortly.
.............................The citizens of Venezuela are in total shock as to the surprisingly 46% devaluation of their currency the bolivar falling from 4.3 to the dollar to 6.3. The reason for the devaluation was due to the shortage of foreign reserves i.e. namely the USA dollar. The devaluation helps somewhat in that category but it also stimulates massive inflation.
..............................n USA news, food stamps again are on the rise. And the economy is getting better?
Also zero hedge discovered that most of the dollar printing in the USA is heading to USA based foreign banks. No wonder the Fed should be audited.
**************************************************
I still feel that there's going to be a bumpy ride coming. If you wanted to get into buying silver, I would say that it's a good time. The price is below $31.00. It may get even below $30. But I still believe there's going to be a rise. There really has to be. But as I've always said, because of manipulation by countries, banks, and the cartel; that silver and gold may be something you might have to sit on for a little while. There's 3 main reasons to buy metals. 1) You believe there's going to be a major financial/economic/currency crash; 2) You are buying to offset inflation for your retirement and future; 3) You buy to offset and pay down debt and/or to buy things at a discount. All 3 reasons are good reasons. Obviously, there are different results depending on which of the 3 future scenarios happen. But I think having some silver and maybe gold, that you can sit on, is a very good thing. Keep watching. CYA: SE:
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