GoldmanSachs issues sell reco on gold shares (JOKE!)
they claim jewelry demand will never sustain current gold price levels
well, let me see
on Friday May 17th JPMorgan issued a sell reco on gold shares
the next week, gold broke out to new highs
confirmation came from gold price, gold shares, silver price, silver shares, and futures exchanges
I think the precious metals players SMELL BLOOD
my call of Gold at 335 is looking better each day
then after a peak in 335-340, a pullback for consolidation
I believe I read (if memory serves me) that the combined losses for JPMorgan, Citibank, GoldSachs in precious metals corruption cartel activities would be in the $2 Billion neighborhood
but if they wait too long to cover, losses could be higher
gotta love it
I maintain that by December, JPMorganChase will be filing for Chapter 11 in Bankruptcy Court
or else appealing to the USGovt and Federal Reserve for a bailout
they will likely claim that JPM failure would jeopardize the US banking system
that got it backwards
suppression of gold, sale of gold collateral behind $6 trillion debt, and gold fractional leasing has led to the banking system to stare at the precipice
John Pierpont Morgan would turn over in his grave
the failure of JPM will enable gold to rise another $50-70/oz
and maybe $150-170/oz
I foresee gold heading well past $1000/oz in the next two years
and 20 reasons back that forecast
/ jim |
