-- Published: Monday, 25 May 2015 | Print | Disqus
Why are those that promote freely traded gold the subject of ridicule? I havenít seen anyone apologize to GATA publicly about being right when it comes to manipulated gold and other markets. GATA has been right since DAY ONE! The banks are a cartel and they grab profits through the rigging of markets and there is no doubt the government simply takes its share by issuing fines but no prison sentences. And for those that believe they can only manipulate in the short-term, the evidence clearly states otherwise.
Not all of the gold promoters are saying we need a gold standard nor are all the gold promoters saying we need austerity. What they are saying is if gold wasnít such a manipulated mess, leverage may never have reached the absurdity that it is today. Governments may never have accumulated such obscene levels of debt crushing their citizenry.
I havenít seen any vituperation thrown at the promoters of Amazon and its ridiculous valuation or Netflix or the latest bout of insanity, Shake Shack! I see plenty of people talking about how cheap oil stocks are, yet they are ridiculously priced relative to oil. Gold miners are the cheapest relative to gold in modern history. Why? Because gold miners are manipulated, just like everything else that is publicly traded.
Look at the analysts that ripped to shreds the management of the large gold miners for attempting to build more mines. They were skewered, yet the likes of Zuckerberg are praised for buying Whatsapp for $19B when the company has de-minimis revenues (not a solitary gold miner is worth $19B, not a one.) How does one reconcile that logically? It is impossible because there is no logic to almost anything that comes out of the mouths of Wall St. shills.
On to the charts:
The daily US$ chart. A classic double top and an ominous head and shoulders pattern. Will this light a fire under the metals? More than likely.
Hold on to your hats as I suspect the next year plus gets dicey.
Itís a Mystery.
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-- Published: Monday, 25 May 2015 | E-Mail | Print | Source: GoldSeek.com