As usual, Silver and Gold only go lower during the pre-opening of Comex

The US Dollar has been elevated by our foreign banking partners but has been able to do nothing else but remain sideways since the beginning of the month with the trade at 81.595,  down 6.2 points from yesterday’s close and by the way things are looking,  one hell of a place to go short.   Treasuries are doing the same on the daily charts,  elevating,  but the weekly chart is showing 3 legs up inside an inclining wedge.   Both of these formations would point to a decline in a normal market,  and as we are all aware,  normal left a lonnnng time ago.   Energy Sector is still unmovable with Crude Oil not allowed to move with its trade at $97.50, down 9 cents with the rest of the sector sitting there as well. Word is out that fearless leader is returning from his vacation and heading back to the white house as Iraq has gone into meltdown mode again with the United Nations Team of Useless claiming it’s in an international crisis. We can’t disagree with the summation, but we truly disagree with sending more troops in to settle things when the past 30 years couldn’t do it. Our nation is on the verge of tearing apart and we’re still sending our troops off into other lands. In other petro news, the “bail us out shale” movement is proving to be another simple oil giant sales pitch that can’t hold its own as word is coming out that all this talk can’t stand up to scrutiny; http://energypolicyforum.org/2014/08/13/the-shale-sugar-lick/ and here as well; http://www.postcarbon.org/blog-post/2335069-blame-the-environmentalists . Of course it won’t move the energies in either direction when an open market system no longer functions.
Gold is trading higher this morning, oops, never mind, it’s down again with the Boys of London doing their usual with the trade at $1,312.20, down $2.30 as Open Interest gains exceeded yesterday’s drop. Silver is still showing a positive this morning with its trade at $19.88, up 3.5 cents with its Open Interest gaining what it lost yesterday. The Shanghai Silver vaults have been drained since March of last year. In that month the vault claimed to have 38 million ounces of Silver, now they have only 4.75 million. If they continue to see the same amount of drainage with no intake things could get quite interesting by the end of next quarter. Tomorrow is when the so called “New Silver Unmanipulated Fix” goes into place and many are claiming it to be the end of the banks fix on the only commodity that hasn’t exceeded its life of contract highs. Even though I strongly believe this market will justify all this reporting, I don’t think a single event will cause the movement we’ve been waiting for. Don’t get me wrong, I want it to happen so we can see normality again, but I’ll wait as my clients and I have been and will continue to do so till we see the correction of a lifetime actually show up in price. I do not think this “Fix” will do anything but fill the air with another stench. Bitcoin is proving once again to be the leader of the Precious Metals direction and is still being pushed lower each and every day with still no real news to justify the moves with the trade down sharply at $513.40. Down $39.60 inside a 24 hour trading range of/between $572 and $503. What a buy this is as this Crypto-Currency has been out for 5 years now and is still rockin’ in value. We feel once the Dollar starts to fail because of the major nations jumping over to the BRICS, this Crypto along with Ripple Coins (and precious metals), will be the purchasing power savior for the American and Euro public. Ripple Coin is trading higher than yesterday’s quote with its trade at $0.005368 as we see it’s not being controlled by an agency which is selling its stolen bounty. Grains are trading in the negative as the weekly charts are showing Soy Beans, Wheat, and Corn, having the same cup formation just before a slam down occurred. The Softs are mixed but flat with the Cocoa weekly chart showing solid and positive gains, and the Live Stock Sector, even though it has shown some strong downward movements, hasn’t even traded past it support lines. If this sector can’t post a drop below its previous lows, we’re heading sharply higher again and that would lead all foods into the stratosphere. Nothing to worry about though, as long as you’re doing exactly what the Algo’s do in the Stock Market. That is blindly buy on every dip because of the Working Groups promise to never allow a decent percentage fall. It doesn’t matter if the new jobs people find pays 35% less than the previous (that is, IF you can find a job), or the fact that housing prices have collapsed because no one wants to buy a house when everyone with a brain sees the future of tax increases on properties will exceed that of the 1970’s, or the other facts like the newer generation seeing no real reason to follow Mom and Dad’s footsteps because their parents are on the verge of bankruptcy and are losing everything. Our system has been broken since 2008 and the only ones that are still leading us into the abyss are the ones that got bailed out, the criminally insane. These ass clowns couldn’t trade themselves out of a paper bag without the help of the Feral Reserve. The focus of our future is in the hands of the failed (for now), and when the foreign supporters leave our little money mafia, these criminals are going to be on every Cyclops news channel and ever website up until their burial. In closing, I wish to end on a positive note, so here’s a little Yuck Yuck for you … What did the Zen Master say to the Hotdog salesman when he was asked what he wanted on his dog? … One With Everything!! …. I kill me sometimes …. So keep those Precious Metals and Crypto’s close, and as always … Stay Strong!!

JB Slear
866-443-0868 Ext 104
817-717-5489
Fax: 817-764-2537
www.FortWealth.com

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