It's nothing but good news all the way round here. The future looks opitimistic to say the least and those of us who are fortunate enough to be well positioned will benefit the most. Build it and they will come. So, I would say the ballpark looks grand, the short and long term weather is most promising and the team is chomping at the bit. I'm going to enjoy having a prime seat.

Say, that Martin Armstrong prediction seems to be falling in to place folks. There appears to be a buoyancy in the PMs during the last few days. Here are a few thoughts for today.

Lots of interesting and positive gold “stuff” today. Gee, the big revelation that China has been accumulating about 80 tons of gold/year, oddly the same amount that the Washington Gold Agreement has been selling/year. So, the Western Central Banks have been selling/suppressing/manipulating gold in order to vainly attempt to protect their fiat currency/bond power base. Seems like the Chinese are now in the cat seat with at least 1000 tons of gold and probably much more that they haven’t disclosed. Then there’s the burning question of just how much the western central banks really have left in their vaults, having been sellers since at least the last 10 to 12 years. Some think they have sold over half their holdings of their original 35,000 tons, maybe as much as 20,000 tons. The controversy of the US holdings, supposedly about 8,000 tons still swirls around the fact that there ahs been no official public audit of those reserves since the fifties.

The IMF threatens on a yearly basis to sell gold it really doesn’t have since all of its gold is simply gold pledged to it from various central banks/countries. Since the US Congress must approve the sale of such “IMF” gold, it likely never will because it doesn’t exist. If one is to attempt to probe further into the depths of turbidity, questions of gold swaps, deep storage gold (descriptive term used for the US reserves), hedging tricks (Barrick), COMEX holding/trading shenanigans, CFTC maneuvers, suspicious ETF custodial arrangements, Dark Pool share trading, massive naked shorting, bank/broker/hedge fund wizardry and a host of other fraudulent maneuvers…it becomes obvious that the jig may soon be up as the good old, irrepressible forces of supply/demand begin to prevail in the final death throws of the grand charade. Complicit in the grand gold suppression scheme, unwittingly or otherwise, are none other than The World Gold Council, GFMS, western media and press, Kitco (Nadler), analysts, letter writers, economists, politicians and a cast of thousands.

As Chris Powell, Secretary/Treasurer of the Gold Anti-Trust Action Committee (GATA) just this morning reminds us: “the first principle of Western central bank operations is not to preserve the value of their gold reserves, which they’ve long been dishoarding, but to preserve the value of their currencies and government bonds, which are worth infinitely more to them and are the reciprocals of the price of gold, a competitive currency and competitive financial asset. That is, gold is suppressed to keep currencies and government bonds up and interest rates down.

This is Central Banking 101, and the World Gold Council affects not to know it, which is impossible to believe.

The InvestEgate report is headlined “World Gold Council: Gold Conspiracy Would Dwarf Madoff” and you can find it here:

http://www.investegate.co.uk/invarti...

Gold, Silver - Important Alert!

Peter Degraaf
Posted Apr 24, 2009

The Gold Direction Indicator is flashing another buy signal. This indicates that the pull-back that started late February is probably finished. A new rally is about to start.

Some of the monetary inflation that the Obama team is injecting into the system is starting to turn into price inflation.

The stock market rally which had drawn attention and money away from the gold market is running out of steam.

The situation in Pakistan which has been smoldering for months is moving to the front pages, and is causing anxiety in India, where people buy gold bullion when fear mounts.

The loss of trust in the banking system along with the corruption on Wall Street, and the sheer incompetence of the Obama administration (headed by a man who has been put in charge of the largest ‘corporation’ in the world without any experience in running a business), virtually guarantees that the record amount of monetary inflation that is currently being generated will turn into price inflation which will make the problems we saw in the late 1970’s appear to have been a picnic by comparison.