Interesting timely viewpoint
Jim Sinclair:
On the heels of the release of the Fed minutes, today legendary trader and investor Jim Sinclair told KWN the release of the Fed minutes and subsequent market reaction in gold was orchestrated. Sinclair also said this is government manipulation against the tide of the bull market and it will be overrun.
Here is what Sinclair had to say about what transpired today in the gold market: “The tactic is always the same. The gold banks enter the COMEX and offer more gold for sale at the market than has been mined in the last five years. Immediately, the locals (pit traders) try to run in front and hit any bids they happen to have on their book or are out there in order to get the price down.”
“Gold tanks down to the $1,640 level and now the brokers for the gold banks begin to enter the market to cover shorts to reduce the short position taken, and most likely to completely flatten it on the day. This has been going on from 1968 to 1980 and it’s also been going on from 2001 to today.
The net effect is absolutely nothing. The idea that there is a significant, improving economy directly in front of us is absolutely, completely and utterly a fabrication. The only reason car sales are firm is because they are giving away easy credit out there, so much so that even my dogs could buy a Cadillac Escalade….
“The markets are being run right in front of your eyes. Trading gold has never been easy and if you can’t stand the heat, you have to get out of the kitchen. You have to have courage and know that you are right. You have to look at today as a fool’s play.
This was completely orchestrated and enhanced by mainstream financial media. It was operated on the exchange and covered by the close. Shame on them. QE to infinity is as sure as death and taxes and all the way through this sage of QE to infinity there will be denial of its use.
http://www.jsmineset.com/
Jim Sinclair:
On the heels of the release of the Fed minutes, today legendary trader and investor Jim Sinclair told KWN the release of the Fed minutes and subsequent market reaction in gold was orchestrated. Sinclair also said this is government manipulation against the tide of the bull market and it will be overrun.
Here is what Sinclair had to say about what transpired today in the gold market: “The tactic is always the same. The gold banks enter the COMEX and offer more gold for sale at the market than has been mined in the last five years. Immediately, the locals (pit traders) try to run in front and hit any bids they happen to have on their book or are out there in order to get the price down.”
“Gold tanks down to the $1,640 level and now the brokers for the gold banks begin to enter the market to cover shorts to reduce the short position taken, and most likely to completely flatten it on the day. This has been going on from 1968 to 1980 and it’s also been going on from 2001 to today.
The net effect is absolutely nothing. The idea that there is a significant, improving economy directly in front of us is absolutely, completely and utterly a fabrication. The only reason car sales are firm is because they are giving away easy credit out there, so much so that even my dogs could buy a Cadillac Escalade….
“The markets are being run right in front of your eyes. Trading gold has never been easy and if you can’t stand the heat, you have to get out of the kitchen. You have to have courage and know that you are right. You have to look at today as a fool’s play.
This was completely orchestrated and enhanced by mainstream financial media. It was operated on the exchange and covered by the close. Shame on them. QE to infinity is as sure as death and taxes and all the way through this sage of QE to infinity there will be denial of its use.
http://www.jsmineset.com/
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
