Failed Raid in Gold and Silver Continues to Create False Reality

For anyone left in this market who actually believes the words that come out of the mouths of those that work for JPMorgan (JPM), for instance Blythe Masters or Jamie Dimon, then today is further proof that gold and silver are in trouble and headed for points south because of something their precious little charts are telling them.  For the rest of us that watch the ticker, have functioning brain cells or can do math, we realize the the prices that are quoted to us are a wholly fabricated construction of the Federal Reserve and their agents listed above.  And right now they have decreed that gold shall trade at or near $1650 per ounce.  Less than that would cause too much of a run on the physical market and more than that would call into question their status as Masters of the Manipulated Universe.

So, you want to know what a raid looks like?

They say a picture’s worth a thousand words, and in this case it’s more like millions of dollars.  That’s a 10 minute chart of gold from Tuesday’s COMEX/Globex session in New York.   Silver was threatening to break above $32 per ounce and we could not have that so, one non-economic raid was served up on a platter to arrest momentum and keep the metals trading where the Fed wants them to trade.  Gold closed on the Globex at $1651 per ounce.  Silver closed at $31.68.   Don’t worry, if you are trading in the oil and grain pits you shouldn’t feel left out, those markets are rigged currently as well.  The open interest on the COMEX for a number of commodities has been dropping like a rock since this suppression scheme went into effect last September.

If you are worried about the future I can tell you without reservation that gold and silver are both the blue-light specials of today’s markets.   Again, gold is a measure of inflation future not inflation past, so looking at the CPI or some other useless and manipulated economic statistic emanating from some alphabet agency in the U.S. and trading gold and silver based on those numbers is foolish.  The Fed is trying to engineer a 50/200 DMA cross while inflation expectations are spiking.