Gold And Silver - Do Not Buy At Your Own Peril

Saturday 23 March 2013

It used to be that March Madness was about the best basketball at the college level.
Now it is about “Bankers Gone Wild!” If Cyprus is not the final nail in the coffin for
trust in bankers, then you should put all your available funds into a bank, maybe
even the Bank of Cyprus. March of 2013 did not just send a shot across the bow, the
Emperors of the banking elite just sent a direct hit to any depositors dumb enough
to keep any funds in any financial institution.

Can this be any clearer?

The non-elected banking elite, the EU, the IMF, pick your own acronym, all of these
unelected officials are telling sovereign nations how to conduct the operations within
the sovereign’s business, and the business to be conducted is that of fleecing people.
There is no longer even the slightest pretense that laws apply to bankers, for they do
not. Angel Merkel is so pissed at Cyprus for daring to not “go along to get along” that
she is telling Cyprus what is expected of that island nation.

Whatever happened to the inferior positioned bondholders? Why are they not having
to pay up, ahead of the most secured in status depositors. Ahhhhh….the bondholders
are the bankers, holding worthless bonds, and they are not about to take a loss for their
own financial misdeeds.

The world is suffering a financial crises, brought about by “Bankers Gone Wild” issuing
a slew of worthless bonds and these-do-not-make-any-sense-but-are-so-profitable
derivatives; their reckless, un-banking-like behavior is being exposed for the fraud it
always has been, and now the financial evil-doers are delivering all the losses to the
weakest link: The People.

Save the banking institutions at all costs! [And naturally, with no risks.]

What does this have to do with gold and silver? Everything!

On 17 March, we wrote an article, “Can What Happened In Cyprus Happen Here? It
Already Has!,” [Click on http://bit.ly/ZcIUhI, to view it]. Mention was made that when
you deposit money into a bank, it becomes the bank’s property. You actually made a
“loan” to the bank. While the EU/IMF/Germany placed demands on Cypriot banks to
“tax,” ["confiscate" would be more apt], depositors funds, Wall Street and the Federal
Reserve have already been fleecing ALL people in the US, not just depositors.

There was MF Global, barely two years ago, the S&L scandal from the 1980s, we forgot
to mention REFCO from 2005, and currently, Pinocchio Ben has been fleecing bank
depositors, pensioners, and all retirees with Zero % interest rates that gives no-cost
borrowing to the “Bankers Gone Wild,” while depriving dividend income to depositors,
bondholders, pensioners, and retirees.

As we have been saying about gold and silver, consistently/persistently: Firstly, buy the
physical metals, then HOLD THEM PERSONALLY. If you do not hold it, you do not own
it. That advice has not been intended as some catchy phrase, for if Cyprus does nothing
else, it demonstrates how the banking elite views THEIR holding of YOUR assets. Your
assets are on “loan” to them. Maybe you will get them back in full, but now more than
ever, maybe not.

We note a bit of irony that Merkel/Germany pushing/imposing/dictating their financial
weight on other, weaker countries, may be the very same kind of victim as Germany
attempts to “repatriate” its gold. The New York/London’s official response, “It may take
several years.” Unofficially, ‘We ain’t got it,” long story short.

Those who have been buyers and holders of physical gold and silver have been doing so
precisely because of what has been developing since the 1933 confiscation of gold in this
country and the justifiable distrust of all bankers. For those who have paper assets in
banks, [actually only digital assets, neither of which exist in reality], who are not buying
gold and/or silver, the time to do so is fast running out.

This is no longer about which asset is performing better? This is all about which asset
will preserve wealth the best. Gold has a 5,000 year history. Even the thieving central
bankers are buying gold! Neither gold nor silver can be eaten, ridiculously said by the
anti-PMs, but no one eats fiat, either. It is exchanged for goods and services. Gold and
silver can be converted into fiat, as/when needed, and exchanged for goods and services,
too. The difference? It takes more and more paper fiat to buy the same ounce of gold or
silver. PMs are not going up in value. It is the fiat that continually goes down in perceived
“value”

In that article link above, we also mentioned Black Swans. Let no one ever say, “Who
could have seen this coming?” when depositors, when ALL citizens become further
victimized by Wall Street and the insidious banking elite.

For now, the thieves remain in control of the paper world. When that control is lost, so
will all opportunity to buy/hold physical gold and silver at current gift levels, perhaps
even at any level, without severe government/banker intrusion/”tax” [aka theft].

Just as the banking elite, [call them whatever you want, we do not care about semantics],
used to “fix” Libor rates, [always to their advantage], they still “fix” the prices of gold and
silver at the end of each day. From the pages of “Do as we say, not as we do,” while central
casting bankers are buying gold and discouraging The People from doing the same, here
are how the current “fixings” look and what the banker would have you “believe.”

We like to include the monthly and weekly for consistency, looking for subtle clues of
change. The current channel TR lows are holding, and we have discussed the potential
for a turnaround for some time, but none is apparent, and one cannot let sentiment, or
even disgust with controlling influences be a guide.

Buy physical gold, yes, and without waiting. As to the futures, not yet, at least not without
exposure and risk to unexpected sell-offs.

The rally of the past three weeks is more labored and the bars are smaller, relative to when
price declines faster with wider ranges lower.

The one message of certainty in the charts is that there is no sense of urgency in any rally
effort.

A small range bar, all of March, so far, says a lack of direction, up or down. However, it is
buyers who must prove an ability to control at this juncture, not sellers.

We can make an encouraging case for price holding and not going lower, but no case can
be made for price going higher right now. Patience.

The low of the January failed probe was not viewed as a swing low. One-time price
exaggerations can result from the running of stops or even an air pocket of excess, and are
not true measures of support/resistance, from our perspective.

Based on this chart, the case is stronger for continuation lower than for a rally. While
either situation still has to be proven, it is the downside momentum that gives the edge
to sellers.

One important consideration to keep in mind: the central bankers that are determined
to discourage gold/silver as an alternative to their endless issuing of fiat have a vested
interest in seeing the lows of the 18 month, and counting, trading ranges in gold/silver
violated with new lows in order to punish weak longs, take out a huge build-up of stops,
and deflate holders’ expectations for higher prices.

There used to be a game show on television called, “Who Do You Trust?” It is an apt
question to be asking yourself in today’s more treacherous financial environment as it
pertains to banks and bankers.