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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.

 

 

ahoffman@milesfranklin.com

www.milesfranklin.com

 

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