• Gold: 1,226.20 -0.19
  • Silver: 14.58 -0.05
  • Euro: 1.151 0.000
  • USDX: 95.713 -0.243
  • Oil: 69.63 0.88

The week of hell is nearly over

Well, the week of hell is nearly over - with the Cartel using major "key attack events" like COMEX opex, FOMC, and NFP to attack with all barrels. However, the balance of the economic data has been decidedly weak, and the FOMC decidedly bullish. And oh yeah, both metals held above their 50 and 200 DMAs.

10-10-10 Special: Silver Price + $0.10/oz on 1-...

Silver Spot + $0.10! 10-10-10 SPECIAL on 1-ounce SilverSeek Rounds

Well, what did you expect?

Well, what did you expect on a week when COMEX opex was Monday, the FOMC meeting (and 2Q GDP) on Wednesday, and NFP payrolls Friday.

One of the most blatant examples ever

This week has been one of the most blatant examples of naked PM shorting ever, amidst some of the most PM-bullish news ever. Particularly, yesterday's transparent attacks as TPTB pulled out all stops to push the 10-year Treasury yield above 2.5% couldn't be more obvious - as I forensically described in yesterday's AudioBlog, "best laid plans." And what a shock, Monday is COMEX options expiration day - when no doubt, countless $1,300 and $21 options for gold and silver, respectively, were outstanding.

"Something" is likely to give soon.

It's all closing in on TPTB, as Treasury yields are now in freefall assuming global QE to Infinity - sooner rather than later. Moreover, as more info emerges, the odds that the Malaysian plane was NOT shot down by Russia mount, whilst the Israeli war escalates exponentially.

Huffing and Puffing

This week's blatant propaganda scheme is miserably failing; as despite all the Fed's "huffing and puffing" about market overvaluation, (PPT and QE-supported) stocks remain at all time highs, whilst volatility is at all-time lows and Treasury yields are threatening to do the same.

Wow, what a shock! for Whirlybird Janet

Wow, what a shock! Gold and silver attacked on the year's thinnest trading day, one day ahead of the historic "key attack event" of Whirlybird Janet's semi-annual Congressional economic testimony.


Today's list of "horrible headlines" has never been longer - and this, during the so-called "summer doldrums." Middle Eastern violence, plunging economic growth, the default of the largest Portuguese bank, the BOJ preparing to monetize Japanese stocks, and plunging U.S. Treasury yields despite the so-called, eternally propagandized "recovery." Heck, Wal-Mart's CEO said so yesterday, there is NO RECOVERY!

France de-dollarizing?

This weekend, our "ally" France made strong comments about de-dollarizing, joining our "enemies" the Chinese and Russians - and countless others. The global economy continues to plunge into the abyss - and with each passing day, the Fed's reckoning day (of announcing further QE) approaches. What will arrive first, the markets destroying America - and rocketing PMs to the stratosphere; or the Fed itself?

Pricing will get revealed

Ah, $1,320 gold - the "line in the sand" being defended as this month's COMEX options expiration period ends. Throughout the world, the upsurge in PM sentiment is starting to build; and for those that choose to ignore the word's of burgeoning Shanghai Gold Exchange's Chairman, we can only warn you otherwise. “Shanghai Gold will change the current gold market ‘consumption in the East, but priced in the West’ situation. When China will have a right to speak in the international gold market, pricing will get revealed.”