like night following day, gold will bust thru 350
cracks are forming with JPMorganChase
in early April gold struggled to get over 300
now it is over 300 every single day
back then they said it must get to 305
no, they said it had to get to and stay over 300
it touched 314 recently
such a touch two months ago would be laughed at
two big events have changed the landscape
1. JPMorgan fired a key VP in charge of derivatives
2. Barrick and other moronic arrogant hedgers are covering
every two weeks we ratchet up 5 pts on gold
I wouldnt be surprised to see gold go back near 300
just to say hello, have a cup of coffee, fool some fools
these cartel guys are very desperate
a final flurry to save their derivative books is coming
the big big risk I see is not so much gold rising and cratering their short futures contracts
it is the flipside countervaling long bond futures position in support of the gold shorts
as gold rises above 330, shorterm rates will get out of GreenFart's control
JPMorgan's big risk is more with bonds than gold
and this has fallout on the entire stock and housing market
you can join it, or watch it
but it is a tidal wave force that will not be averted
several external forces will not wait
e.g. MidEast, China conversion of USTBonds, Japan savers converting, India steady buying, Germans joining
this is gonna be so much fun
just watch the margin, leverage, timing expectations
I hope they delay the JPM crushjob until next year
aint gonna wait though, WestFace
/ jim |
