The dollar rally is another issue and
very suspicious. Without the Swiss and Norwegian moves, it's improbable that it would've closed above 77.
perhaps you ought to consider quoting me as i am the only one i know that had
predicted this manipulated central bank induced USD rally weeks ahead of it happening which is memorialized throughout this whole thread. of course i had no insider knowledge that it would be the SNB that would spring the trap per se but it made perfect sense to me that a coordinated effort would be made to target gold to boost the USD and the general prediction was made. the fact that Dan Norcini comes to this realization
after it happens isn't really helpful to his followers. in addition, on 9/6 at 9:24pm, in this thread, minutes after the selloff began i called attention to this as supportive of my theory. Dan doesn't post on his blog until 10:44pm over an hour later.
this is old info and has been already invalidated. a true technical trader can see this. the GDX itself and individual gold miners like GG, ABX, NEM have already broken back below what was
supposed to have become support from what was formerly resistance. usually if the breakout is valid this new support level should have held before continuation of an upward move. this was one huge head fake. find that written by any of your punditry.
Gold positioning is at a critical mass. If any large interest (*cough* JP Morgan *cough*) begins short-covering now, it will make the QE1 and QE2-induced rises look like pimples on a gorilla's ass. Apologies in advance for the emesis-worthy imagery.
Eric Degroot is wrong.
Everything has changed with this USD breakout. the whole fundamental basis of the gold trade has been to escape a falling USD. now that its rising and looks to have broken out of its channel to the upside how can you justify recommending further gold buying? you are potentially putting ppl at great financial risk if we go down the toilet from here.
Gold to exceed $2,000 within 45 days. Key is the fact that gold is
under-owned as an asset class. For that matter, Bitcoin is under-owned, but for different reasons. The only asset more powerful than one that functions as money is agriculture. Arable land is also a severely under-owned asset class by percentage of population.
putting up all these bullish posts from permabulls doesn't in the least intimidate me. you will not find an analysis like mine in this thread anywhere in the world. how do i know this? its b/c these thoughts are truly none but my own as a result of years of experience trading and shorting stocks and clear, independent, unemotional, non linear thinking and the study of game theory. i do read the pundits often but always with a discerning eye and none of what i write here is from anyone's newsletter. they are to a man bullish. there is so much more that has gone into my own analysis such as intuition and anticipation that i can't articulate via words. and yes, i am humble enough to fully admit i could be wrong.
Jean-Marie Eveillard estimates global ownership is at 0.4% when recent historical highs have been around 5% - so a 5-fold increase in ownership should equate to a minimum of 5-10 times the price, or about $9,000-18,000/oz. However, as demand rises and supply is insufficient to meet that demand, price will escalate more rapidly. That is where the
real parabolic rise will come in; there's still some time left before that happens.
i disagree that this bull has to end in a further parabolic move. there's already enough game changers that have occurred in the financial markets in stocks, oil, commodities and other currencies to cause a dramatic reversal in gold right here, right now. not to mention that you all now realize that CB's have drawn a big red bullseye on all your foreheads. do you have any idea what this means?
Dan Norcini's article to me is a game changer. the creeping realization that CB's are acting in a coordinated fashion to kill gold should not result in permabulls thinking that just b/c they are aware of the manipulation, then a gold selloff won't happen. the better response is to sit up, understand the implications of this, and get out of the way
now. they will throw the economy under the bus in the name of self preservation and to "save the dollar". permabull suspicion will turn to arrogance will turn to denial will turn to realization will turn to doubt will turn to fear will turn to capitulation. this is the psychology of the situation.
Gold Bullion International also seems to be headed in that direction. GoldMoney already facilitates transactions between existing GM account holders. There are hurdles to introducing a gold-backed transactional account, but it
will happen. Bitcoin is sort of a proof-of-concept for that. The combination of Bitcoin and gold is exactly what
Open Transactions is suited for. Existing infrastructure already exists to make Visa & Mastercard pretty much irrelevant - mobile phones. Independent terminals at a business could simply scan a QR code off a person's phone to facilitate a transaction; a wholly software solution, as the physical hardware is in place.
could the end of the bull in pm's partially result from a new technology staring us directly in the face; Bitcoin?
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