• Gold: 1,195.60 0.57
  • Silver: 16.07 0.03
  • Euro: 1.223 0.000
  • USDX: 88.279 0.638
  • Oil: 57.85 2.76

Cartel Rule #1

Ranting Andy
Thursday, November 15th

SilverSeek.com Comment Wire


Yesterday’s action represented the third violation of “Cartel Rule #1” in the past week.  In other words, the implicit “prohibition” of rising PM prices when the Dow plunges.  Thus, with another violation appearing ripe to occur this morning – following HORRIFIC jobless claims, Philly Fed, and European GDP numbers  - the Cartel attacked at the 9:30 AM COMEX open; to the tune of $20/oz in gold and $0.50/oz in seconds, while no other market budged.


Both metals since strongly rebounded; particularly silver, care of the likely PHYSICAL buying ongoing following Eric Sprott’s $270 million PSLV offering Friday morning.  However, they still remain under pressure, and the “bad guys” are doing EVERYTHING possible to suppress metals – such as ANNIHILATING mining shares (which is why I will NEVER own them).  The FISCAL CLIFF is real; and no matter what is “decided,” I expect 2013 to be every bit as bad as 2008-09; and likely, worse.


But not for PHYSICAL PMs, which I expect to SOAR; certainly in REAL terms, and likely NOMINAL terms as well.


Andrew C. ("Ranting Andy") Hoffman, CFA

Marketing Director

Miles Franklin Ltd.






@SilverSeekWire on Twitter


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