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Michael Noonan Edge Trader Plus Michael Noonan is the driving force behind Edge Trader Plus. He has been in the futures business for 30 years, functioning primarily in an individual capacity. He was the research analyst for the largest investment banker in the South, at one time, and he... More
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  • Gold And Silver - Do Not Buy At Your Own Peril 0 comments
    Mar 23, 2013 4:40 PM

    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
    nation.

    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
    risks.]

    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
    banking elite.

    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.

    GCA M 23 Mar 13

    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.

    GCJ W 23 Mar 13

    The one message of certainty in the charts is that there is no sense of urgency in any rally effort.

    GCJ D 23 Mar 13

    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.

    SIA M 23 Mar 13

    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.
    Patience.

    SIK W 23 Mar 13

    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.

    SIK D 23 Mar 13

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