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Gary Fritz wrote:
> OK, rather than argue about Le Metropole reposts, how about we
> actually talk about what the gold market is doing?
>
> Based on all the furor over Larry's posts, I've been watching the
> silver & gold markets lately. Looks like they tanked fairly severely
> (5%) in the last 2 days. I would have guessed the PPI numbers and
> AG's comments would have *lifted* gold, not killed it. On the other
> hand, the drop started midday yesterday, so something else must have
> started it.
>
> Any guesses what caused this sudden drop, and how far it's likely to
> go?
>
> The XAU is down about 17% from its high a few weeks ago. Maybe the
> price pop was just a temporary aberration, and it's going to continue
> on its downward course now?
>
> Seems to me, though, that if the stock markets start to tank (which
> seems more and more likely) that gold will likely find new strength.
> Correct?
>
> Gary
The recent gold rally was the result of a conspiracy to bail out the
major gold dealers at the expense of a few large but weak short sellers,
i.e. Martin Armstrong. You may remember that
Warren Buffet, a few years ago, had a press conference to announce that
he had been buying silver.
The silver ran for about one week and then that was the top for the past
three years. In the same light,
the big gold dealers had their announcement that gold should go up. Guess
why? You don't suppose they may have owned larger amounts of gold sold to
them by the Central Banks and needed to get out? My best guess is that
gold can and will go down with the stock market, assuming that the stock
market continues lower, and that Gold will see $250 before it sees $350.
By the way, I bet a careful investigation of the Cafe Le Metropole
would reveal it is being funded
or controlled by the same gold dealers and Central Banks who engineered
this rally.
Contrarily,
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