The paper game has to end sometime. Mathematical exponentials headed towards infinity cannot be sustained forever.

"When asked about the mining shares specifically Embry had this to say, “Well I think they are finally starting to reflect reality, I mean I was shocked when gold was having this breakaway move over the last while and the shares were getting pummeled. You now my view on this, I think there is a computer algorithm program that’s being used to discourage people from getting into gold shares by making them act counterintuitively.

Jim Sinclair made an excellent point at the GATA Conference when somebody asked him, ‘What is going to make the gold stocks move?’ He very simply said one thing, ‘Value.’ As the gold price works higher, clearly the value of these things, the net asset value and their capacity to being in cash flow and earnings is going to improve dramatically."

From a King World News interview_Underlining above is mine.

I think John Embry is spot on. No one, not even the bankers, can manipulate a market against the trend forever. The waiting sure does test one's patience. Livermore got it right when he said that learning to be right and sit tight was one of the hardest lessons of the market that only a few will master. That's not an exact quote but it contains the essence of the thought.

P.