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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: some Midas commentary today
Commodities Going Bonkers … Even A Mental Midget Could See What The Gold Cartel Is Doing
"Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish." - John Quincy Adams
There are days when the market capping by The Gold Cartel is so blatant there is no point in watching the screen, which only results in total aggravation and disgust. This is one of those days when gold (up $4) has only been open 30 minutes) and I can write this commentary even now, knowing that gold will go nowhere today. THIS, despite commodity prices going ballistic and the US financial market news as bullish for gold as it gets.
You could not cook up more positive news for gold and more negative news for the US stock market. Yet, The Gold Cartel sits on gold (the negative barometer of US financial health) and props up the DOW (the positive barometer of US financial market health). It seems like this is brought to your attention on a daily basis these days. But, what else is there to point out of more significance?
Again, this is what our Wall Street Journal ad was all about. The cretins in New York and Washington continue to interfere in the free market process, which is leading to disaster … catastrophe, unfolding before your eyes as you read this. It continues to amaze me how obvious this is and yet so few outside the GATA camp comment on what is occurring. What is critical for us is that we KNOW what they are doing and what it will lead to. Because the GATA message is banned by our financial market media, few in the investing public realize what the market managers have done … why the US economy is in such a mess, especially compared to the rest of the world. The reason is simple: they were not rigging their markets like our guys have been doing. That rigging has led to the excesses and Moral Hazard issues that are plaguing us now … and worsening.
By knowing what we know, we can prepare for what is coming. It is staggering. As commodity prices explode, ALL the pundits are now calling for a 100 point cut in the Fed Funds rate, which will bring it down to the 2% level, which is just what our STALKER source told us (via his regional Fed Governor source) some time ago. If you will recall, his Fed Governor source said the Fed was in a PANIC! … And, here it is.
Regardless of this pitiful Gold Cartel drill we have seen over the past two weeks, the cabal is going down. It is only a matter of time before gold and silver are back on track heading for the moon. We are finally getting closer to the time when Joe Average Investors jumps on board. NOTHING will be able to stop the Gold/Silver express once that buying kicks in.
Why gold went down today:
SPOT PLATINUM EXTENDS GAINS, JUMPS 2.7 PCT TO RECORD HIGH AT $2,050/OZ
REUTERS NY COCOA SURGES ON FUND BUYING TO 24-YEAR HIGH AT $2,566/TONNE
REUTERS NY COFFEE JUMPS OVER 3.0 PCT TO 10-YR HIGH AT $1.6015/LB ON FUND BUYING
REUTERS NY SUGAR SURGES ON FUND BUYING TO FRESH 18-MONTH HIGH AT 13.73 CTS/LB
REUTERS CBOT SOYBEANS UP 16-17 CTS EARLY, JULY TO RECORD HIGH ABOVE $14/BU ON CHINA WOES, WHEAT RALLY
U.S. spring wheat soars to record near $20
CHICAGO, Feb 15 (Reuters) - U.S. high-protein spring wheat traded at the Minneapolis Grain Exchange closed in on $20 per bushel on Friday, soaring to a record high $19.88 as traders remained hesitant to be net sellers of wheat amid the lowest stockpile in the United States in 60 years.
Demand for feed and food from China after the worst winter in 50 years helped provide underpinning to the markets.
"China and Minneapolis wheat appear to be the two big linchpins of the agriculture economy today," said Jeff Thompson, analyst for Fortis Clearing Americas…
-END-
Aluminium hits nine-month high on power worries
LONDON, Feb 15 (Reuters) - Aluminium climbed to a nine-month high on Friday, supported by worries over the impact of power cuts in South Africa and China on mine output, analysts said.
-END-
I mean … is gold going down on a day like this ludicrous, or what?
I am SO happy I turned my computer and CNBC off. I was an unhappy camper with gold up only $4. That was the good news. The childish and uppity Gold Cartel went into serious action after the PM Fix AGAIN. This key physical market pricing indicator for the day came in at $912.50. Once the cash market buyers and sellers settled on the contract price for this Friday, The Gold Cartel attacked and mauled gold. We have seen this maneuver a zillion times over the years.
Even a mental midget can see what The Gold Cartel is doing here. Besides soaring commodity prices, the dollar fell again.
Then there are the mainstream gold world/Planet Wall Street comments on gold. You have to wonder if they graduated from kindergarten Just pathetic.
My colleague Chris Powell notes:
What's wrong with this picture?
What could be more obvious?…
The gold, silver, and platinum charts at the top of the 24hGold.com page here:
http://www.24hgold.com/default.aspx
***
Without a doubt, this was one of the most ridiculous and obvious interventions in gold ever … especially in regards to the counterintuitive nature of it all. Nothing else to say.
Silver was ready to blow sky high before The Gold Cartel and the silver price managers did their thing.
The gold open interest fell 363 contracts to 476,120. The silver open interest dropped 398 contracts to 189,543. The
The gold COT report showed: *The large specs increased longs by 5,954 contracts and also increased shorts by 3,100.*How strange ... The commercials decreased longs by 10,239 contracts and also decreased shorts by 8,220.
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