from tonight's MIDAS, the 2% reality, for now
posted on
Jul 07, 2009 07:57PM
Picture of a 2% cap job Bill,
The chart below is the daily percentage change for August Comex gold from April 10th to the present. Note how 9 times rallies got capped at 2%. Note too how at least 20 rallies were stopped at 1%. The plunges however appear far more violent and random. There could be no conceivable reason for this other than illegal market manipulation. It doesn't really matter where technical resistance lies, 2% is the only determinant. Over the past decade this pattern has held constant. This was what you first brought to our attention as the $6 collar.
THE CARTEL IRON CURTAIN- ABANDON ALL HOPE YE WHO SEEK DAILY GAINS OVER 2%
When the cartel is eradicated gold will no longer tow the 2% line. I seriously doubt if you'll see a $60 collar at $3,000 gold but who knows, they'll sure as hell try. In the meantime as aggravating as it is they're playing a dangerous game destined to implode. Trillions of dollars of endless fiat creation will blow this chart to Smithereens. They must be getting worried about managing inflation expectations. Gensler and his goons at the CFTC think limiting oil speculation (again) will do the trick. Gensler is obviously a loyal Goldman Sachs team player. The CFTC can sure can get off of their dead fat a**es when their's a long to be punished. The Kahoutek Comet will return before they ever finish the silver investigation.
James Mc