Saturday 23 March 2013
It used to be that March Madness was about the best basketball atthe college level. Now it is about "Bankers Gone Wild!" If Cyprus is not the final nail in the coffin for trust in bankers, then you should put all
your available funds into a bank, maybe even the Bank of Cyprus.
March of 2013 did not just send a shot across the bow, the
Emperors of the banking elite just sent a direct hit to any depositors
dumb enough to keep any funds in any financial institution.
Can this be any clearer?
The non-elected banking elite, the EU, the IMF, pick your own
acronym, all of these unelected officials are telling sovereign nations
how to conduct the operations within the sovereign's business, and
the business to be conducted is that of fleecing people. There is no
longer even the slightest pretense that laws apply to bankers, for they do not. Angel Merkel is so pissed at Cyprus for daring to not "go along
to get along" that she is telling Cyprus what is expected of that island
Whatever happened to the inferior positioned bondholders? Why are
they not having to pay up, ahead of the most secured in status
depositors. Ahhhhh....the bondholders are the bankers, holding
worthless bonds, and they are not about to take a loss for their
own financial misdeeds.
The world is suffering a financial crises, brought about by "Bankers
Gone Wild" issuing a slew of worthless bonds and these-do-not-make-
any-sense-but-are-so-profitable derivatives; their reckless, un-
banking-like behavior is being exposed for the fraud it always has
been, and now the financial evil-doers are delivering all the losses
to the weakest link: The People.
Save the banking institutions at all costs! [And naturally, with no
What does this have to do with gold and silver? Everything!
On 17 March, we wrote an article, "Can What Happened In Cyprus
Happen Here? It Already Has!," [Click on http://bit.ly/ZcIUhI, to view
it]. Mention was made that when you deposit money into a bank, it
becomes the bank's property. You actually made a "loan" to the bank.
While the EU/IMF/Germany placed demands on Cypriot banks to
"tax," ["confiscate" would be more apt], depositors funds, Wall Street
and the Federal Reserve have already been fleecing ALL people in the
US, not just depositors.
There was MF Global, barely two years ago, the S&L scandal from the
1980s, we forgot to mention REFCO from 2005, and currently,
Pinocchio Ben has been fleecing bank depositors, pensioners, and all
retirees with Zero % interest rates that gives no-cost borrowing to the "Bankers Gone Wild," while depriving dividend income to depositors,
bondholders, pensioners, and retirees.
As we have been saying about gold and silver, consistently and persistently: Firstly, buy the physical metals, then HOLD THEM
PERSONALLY. If you do not hold it, you do not own it. That advice has not been intended as some catchy phrase, for if Cyprus does nothing
else, it demonstrates how the banking elite views THEIR holding of
YOUR assets. Your assets are on "loan" to them. Maybe you will get
them back in full, but now more than ever, maybe not.
We note a bit of irony that Merkel/Germany pushing/imposing/dictating
their financial weight on other, weaker countries, may be the very
same kind of victim as Germany attempts to "repatriate" its gold. The
New York/London's official response, "It may take several years."
Unofficially, 'We ain't got it," long story short.
Those who have been buyers and holders of physical gold and silver
have been doing so precisely because of what has been developing
since the 1933 confiscation of gold in this country and the justifiable
distrust of all bankers. For those who have paper assets in banks,
[actually only digital assets, neither of which exist in reality], who are
not buying gold and/or silver, the time to do so is fast running out.
This is no longer about which asset is performing better? This is all
about which asset will preserve wealth the best. Gold has a 5,000 year history. Even the thieving central bankers are buying gold! Neither gold nor silver can be eaten, ridiculously said by the anti-PMs, but no one
eats fiat, either. It is exchanged for goods and services. Gold and
silver can be converted into fiat, as/when needed, and exchanged for
goods and services, too. The difference? It takes more and more paper fiat to buy the same ounce of gold or silver. PMs are not going up in
value. It is the fiat that continually goes down in perceived "value"
In that article link above, we also mentioned Black Swans. Let no one
ever say, "Who could have seen this coming?" when depositors, when
ALL citizens become further victimized by Wall Street and the insidious
For now, the thieves remain in control of the paper world. When that
control is lost, so will all opportunity to buy/hold physical gold and
silver at current gift levels, perhaps even at any level, without severe
government/banker intrusion/"tax" [aka theft].
Just as the banking elite, [call them whatever you want, we do not
care about semantics], used to "fix" Libor rates, [always to their
advantage], they still "fix" the prices of gold and silver at the end of
each day. From the pages of "Do as we say, not as we do," while
central casting bankers are buying gold and discouraging The People
from doing the same, here are how the current "fixings" look and what
the banker would have you "believe."
We like to include the monthly and weekly for consistency, looking for
subtle clues of change. The current channel TR lows are holding, and
we have discussed the potential for a turnaround for some time, but
none is apparent, and one cannot let sentiment, or even disgust with
controlling influences be a guide.
Buy physical gold, yes, and without waiting. As to the futures, not
yet, at least not without exposure and risk to unexpected sell-offs.
The rally of the past three weeks is more labored and the bars are
smaller, relative to when price declines faster with wider ranges lower.
The one message of certainty in the charts is that there is no sense of urgency in any rally effort.
A small range bar, all of March, so far, says a lack of direction, up or
down. However, it is buyers who must prove an ability to control at
this juncture, not sellers.
We can make an encouraging case for price holding and not going
lower, but no case can be made for price going higher right now.
The low of the January failed probe was not viewed as a swing low.
One-time price exaggerations can result from the running of stops or
even an air pocket of excess, and are not true measures of support or resistance, from our perspective.
Based on this chart, the case is stronger for continuation lower than
for a rally. While either situation still has to be proven, it is the
downside momentum that gives the edge to sellers.
One important consideration to keep in mind: the central bankers that
are determined to discourage gold/silver as an alternative to their
endless issuing of fiat have a vested interest in seeing the lows of the
18 month, and counting, trading ranges in gold/silver violated with new lows in order to punish weak longs, take out a huge build-up of stops,
and deflate holders' expectations for higher prices.
There used to be a game show on television called, "Who Do You
Trust?" It is an apt question to be asking yourself in today's more
treacherous financial environment as it pertains to banks and bankers.