Well, it's Friday the 13th today, so I suppose we should have EXPECTED the banksters to mount a little end-of-the-week sell-off - to take back some of the ground which gold gained this week.

As I'm writing this gold is trading at $1666 (ANOTHER ominous number - lol), while silver is at $31.63. So for those superstitious types TODAY is probably not a good day to do any buying...



There was ONE interesting item in the news today which (legitimately) could have some MODEST downward impact on the price of gold: an article from noted gold-hater Dennis Gartman that Russia's central bank had sold 3.8 tons of gold - it's first sale of any gold in 5 years.

Several comments are in order:

1) This amounts to less than 1% as much gold as (the 400 tons) the IMF tried to DUMP onto the market in 2009. Readers will recall India IMMEDIATELY gulped back 200 tons, and the IMF sale helped propel gold HIGHER (lol).

2) Russia LOVES gold. It has been BUYING much, much more than 3.8 tons over the past 5 years, so this is a VERY minor reduction of its own holdings of approximately 960 tons. Thus they are only selling about 0.3% of what they are holding. Note that Gartman the Weasel left that part out (lol).

3) Russia's economy is STILL very shaky - despite its resource wealth - because it is even MORE overrun by Oligarchs than the West. So this TINY sale of Russian gold is more likely because it NEEDS THE CASH than it was wanting to get rid of gold.

So we see an article which (on its surface) actually appears to make some VALID points the against gold market - only to be exposed as the USUAL collection of half-truths from a noted propagandist...

(Naturally since it BASHES gold you can find it at Kitco. )

"Russian Central Bank Selling Catalyst for Gold's Stagnation: Gartman "

www.kitco.com/reports/KitcoNews20120413DC_interview.html

If that fool Gartman is saying this then you know it must be true --LOL
What ever he says it is usually just the opposite, Russia probably just bought 3.8 tons of gold--

It's not even news - that info was available early last week. A significant event though.

Probably sold as part of a co-ordinated Central Bank effort to depress sentiment - they know what's coming in May - or maybe lent to the SWIFT cut-off Iranians to back their liquidity needs.

rdisrael wrote:
If that fool Gartman is saying this then you know it must be true --LOL
What ever he says it is usually just the opposite, Russia probably just bought 3.8 tons of gold--

I see that the name "Gartman" tends to draw a similar reaction here to that OTHER Kitco Stalwart - a gentleman named "Nadler"...

It's Monday April 16th, and a late edition of "The Grind" today.

Had I posted earlier I would have talked about gold prices continuing the softening we saw at the end of last week - as prices dipped as low as $1640/oz. However, as we usually see, the bankers were unable to hold the price near that low, and as I write this the price has crept back above $1650/oz.

On the silver side, prices have been essentially flat throughout the day - hovering above $31.50. There was really very little news today. U.S. retail sales continue to be soft, while the propaganda machine today characterized the number as indicating robust consumption - same old, same old.

Meanwhile, New York's index of manufacturing plunged BELOW the lowest forecast by the shills - and nearly into (official) "recession" territory. No way for the propaganda machine to paing a happy face on THAT!

We're seeing this more and more often with the U.S. numbers: not merely "disappointing", but coming in BELOW the worst of the vacious "predictions" - as with the jobs report at the beginning of the month.

Naturally, as a result we are hearing more and more rumblings for "more QE"...not because it can possibly do any good, but because the U.S. government AND the Fed are totally out of any TOOLS to "do something" other than the printing press.

As I strongly suggested in today's commentary, you don't have to be "psychic" to predict more and more and more money-printing - which automatically means higher and higher gold and silver prices.

It's Tuesday the 17th, and another quiet day in the precious metals markets (at least up to now).

I'm going to try something optimistic today: laying a "trail of bread-crumbs" to try to connect the propaganda to the real world. Here is the "official" dynamic for the gold and silver market today - as explained by the propagandists themselves (lol!!):

1) When the U.S. (or on very, very, very rare occasions Europe) shows what is described as "economic strength", then this is bullish for gold and silver as part of the "risk trade". In other words, when times are GOOD investors generally take on more risk.

And so the propagandists have labeled gold and silver "risk trades" despite the fact they have been the world's prime ANTI-RISK assets for 5,000 years.



2) When the European economy (or on very, very, very rare occasions the U.S.) is said to be (officially) showing "economic weakness", then the sheep are supposed to SELL their gold and silver, because the "risk trade" is off again today.



Note what economic weakness DIRECTLY implies for these deadbeat economies: defaulting on their debts (as Greece has already done) - i.e. paper going to zero.

As I continue to write on a daily basis, there is NOTHING more "bullish" for gold and silver than PAPER GOING TO ZERO.

Does anyone think that the Greek bond-holders who suffered $BILLIONS in losses with their PERMANENT 75% hair-cuts wish they had been holding GOLD instead?

How many more of these deadbeats need to default before ALL the bond-holders stampede toward precious metals?

Conversely, when economic statistics point higher, this does NOT indicate "the risk trade is on" - as the idiot-drones in the media say on a daily basis - it means that inflation is about to spiral out of control (due to all the excessive money-printing). In other words hyperinflation, in other words PAPER GOING TO ZERO.

This is why I tell people (over and over) ALL ROADS lead to higher gold and silver prices, since no matter what the banksters and their political lackeys do their paper is GUARANTEED to go to ZERO - as it has always done for a thousand years.



There is NOTHING "riskier" in the world today than holding paper. The biggest exception is the gold and silver miners, since that paper is DIRECTLY based upon the value of good money.

Now to apply that GENERAL analysis to the specifics of the moment, on the one hand there is not enough "strength" in any of these Western economies (ESPECIALLY the U.S.) for the propaganda machine to even PRETEND that their absurd "risk trades" should be bid higher (i.e. gold and silver).

So one of the things capping gold and silver (over the very short term) is the very same economic weakness I write about on a daily basis.

Conversely, much of the DAMAGE to gold (and especially silver) has been accomplished through the destruction of European debt-markets by the Wall Street terrorists - because then the sheep are supposed to SELL their "risky" gold and silver (lol).

However, for several reasons the terrorists have been forced to put their campaign MOSTLY on hold (except for the unfortunate victims of Spain). Basically all of Europe is stretched taut with debt. If the terrorists push too far now EVERYTHING collapses.

So they are constrained from pushing gold and silver any LOWER - unless they are prepared for a "crash scenario". However, any crash scenario DIRECTLY implies debt-default for more of these debt-dominoes AND more pay-outs in the credit default swaps market (that $60 TRILLION mountain of fraud).

Thus the banksters are largely trapped (in a trap of their own creation) from pushing gold and silver prices any LOWER. This is why the BEST they can hope for now is merely a few more months (weeks?) of stalling...

It's Wednesday the 18th - and another late edition of "The Grind".

Prices started out lower again this morning (West Coast time), and I wanted to see whether the pattern from other recent days would hold: namely that gold would regain most of the lost ground. In this case the answer was "no", however, I'm not sure that would have been the case if a large build-up in U.S. oil inventories hadn't led to a significant pull-back in crude prices.

For those not familiar with this PARTICULAR aspect of the banksters' song-and-dance, here's how it works:

Sagging oil prices are (supposed to be) "bearish" for gold in TWO ways. First of all, when the price sags due to what is labeled as "weak demand" (as was the case with the U.S. inventory build-up) then the propagandists bash gold because (take your pick) it means "the risk trade is off" or (alternately) that inflation expectations are falling.



Note that the propagandists NEVER mention the REAL reason why people should be dumping paper and loading up on gold and silver. Roughly $300 BILLION in Greek bonds just turned to DUST when it defaulted. How many $100's of BILLIONS will disintegrate when SPAIN defaults (or Ireland, or Portugal, or others)?

People (supposedly) run to bonds in times of "crisis". So WHERE are the lemmings going to run when "bonds going to ZERO" IS the crisis???

Obviously this means that gold (and silver) prices should rise even MORE on days which suggest economic weakness than days of economic strength...and as I mentioned recently "all roads" lead to HIGHER gold and silver prices.

Roughly $300 BILLION in Greek bonds just turned to DUST when it defaulted
So why are not people dumping the bonds wholesale in the Euro region ? Could this be a illusionary haircut ? I mean could be such that the elite bankers print up money buy the bonds of the major bond parasites who can "swing" the market and then without transferring the ownership of the bond, declare the haircut ? Confidence restored, and no real CDS payouts to be made(except on paper) ?

If this is the case, then in effect there was no haircut for the bond parasites at all, right ?

Secondly, I just realized that the daily grind will turn out to be a good historical record of the gold market movements when we want to look back in hindsight.

samix wrote:
Roughly $300 BILLION in Greek bonds just turned to DUST when it defaulted
So why are not people dumping the bonds wholesale in the Euro region ? Could this be a illusionary haircut ? I mean could be such that the elite bankers print up money buy the bonds of the major bond parasites who can "swing" the market and then without transferring the ownership of the bond, declare the haircut ? Confidence restored, and no real CDS payouts to be made(except on paper) ?

If this is the case, then in effect there was no haircut for the bond parasites at all, right ?

Secondly, I just realized that the daily grind will turn out to be a good historical record of the gold market movements when we want to look back in hindsight.

Understand that standing BEHIND the majority of these $10's of TRILLIONS in Western bonds are the Bond Parasites (several of whose names would be "Rothschild" or "Rockefeller"). A $300 billion haircut STILL represents only about a 1% write-off on these mountains of (worthless) sovereign paper.

So first of all in the greater scheme of things (at this point) this is still just a minor write-off for the trillionaires. But secondly and MORE IMPORTANTLY as I have noted all along it is not the principal but ultimately the INTEREST which bankrupts all of these debtors. Just as someone with a 30-year mortgage ends up paying SEVERAL TIMES the actual "purchase price" of the house (with MOST of the money ending up in the pockets of bankers).

So the GAME is (and always has been) to sheer the sheep for as much INTEREST as you can, for as long as you can - and take write-offs on PRINCIPAL whenever necessary (knowing their servants in government can be counted upon to rack-up NEW debts).

Remember that ULTIMATELY this is all about debt-slavery (to our SECRET monarchs).

Everyone knows that all those oppressive Western monarchies were abolished in the 18th and 19th centuries.

LOL!!!

All that happened is that the Monarchs HID their thrones - and then created the illusion that their Court Jesters (the politicians) are actually running the show.

Everyone knows that slavery was abolished.

LOL!!!

Who needs REAL CHAINS when the serfs are stupid enough to be duped into wrapping the (imaginary) chains of debt around their own necks?

If anyone is up to the task, I would ask you to try to calculate EVERY PENNY you will pay over the course of the year in interest: interest on credit cards, interest on any/all personal loans, interest on your mortgage.

Then add every penny you pay in "bank fees" (for transactions which cost the BANK basically zero), since all that is is scamming "interest" in a different form.

Then add every penny you pay in INCOME taxes and SALES taxes too. Yes the very wealthy also pay those taxes BUT (as I have pointed out in my commentaries) unlike ordinary people annual income is only a TINY portion of their wealth, and annual consumption is a much, much smaller percentage. So our totally unfair taxation system is ANOTHER way that our monarchs impose economic slavery on us.

And then (if you can) calculate how much of your annual earnings is consumed in interest, fees, and taxes. For most there will be BARELY enough left over to keep you and your families afloat. For some there will be NOT ENOUGH left to do so - i.e. you sink deeper and deeper into debt each year.

Better yet (for the slave-masters) we 21st century pay for our OWN upkeep - since the one "drag" with being a slave-master was having to feed/clothe/house your slaves...