Emergency Meetings!

When I wrote “a week of manipulative failures” Saturday morning, I had not yet downloaded the pictures from my vacation to Cancun, which I arrived home from Friday evening.  Yes, my batteries were recharged – in large part to the sandcastles I built with Sylvie and Diana’s help.  And thus, I’m ready to resume the war we will win against those trying, in vain, to prevent the “once and futures kings” of money, gold and silver, from regaining their thrones, after four decades of history’s largest, most destructive fiat currency Ponzi scheme.

To that end, last night represented just the sixth time in the past 144 weekends that a “Sunday night sentiment” PM attack did NOT occur – with gold surging to the key round number of $1,250/oz; where, as I write at the COMEX open, the Cartel is desperately, but thus far unsuccessfully, defending.  And this, as actual commodities – particularly, the base metals, continue to decline.

Switching topics, it’s rare that I can’t find an article I wrote, and published on the internet in the past.  However, this one goes all the way back to my GATA days, titled “Sunday Night Special”; in which, circa 2008, I wrote of the dramatic increase in “emergency” weekend meetings by “the powers that be.”  After which, draconian “world-saving” announcements were made on Sunday night – like bailing out Fannie Mae and AIG, for example; or “emergency” rate cuts, or other ad hoc monetary stimulus programs.

Since 2008, the number of such meetings has steadily increased – albeit, with few, such as the Cyprus bail-in and Greek “OXI” referendum – having such broad-sweeping ramifications.  However, the sum total has been its equivalent, given how many corporations and sovereignties have fallen into dire financial straits.  I mean, this weekend alone, here are some of the “horrible headlines” that have pushed said corporations and sovereignties to the political and economic brink.

• Deutschebank (my comment: how ironic)says world past point of no return in default cycle
• Barclays warns GrExit may return this summer
• It’s pure chaos now – Venezuela hits rock bottom, as its morgues overflow
• Italy seeks last resort bailout fund – troubled banks meeting Monday
• Iraq latest nation to announce record oil production – why the supply glut is just beginning/Even Goldman says OPEC meeting will be a dud – don’t expect a bullish surprise
• Japanese machine orders fell 9.2% year-over-year
• Austria announces 54% “haircut” of senior creditors, in first bail-in under new European rule
• Ukrainian Prime Minister resigns, says destabilization inevitable without new government
• The end is near for Brazil’s ultra-corrupt government
• Puerto Rican government denies emergency bank holiday

Yes, my friends, this is just two days’ worth of headlines – many of which, refer to desperate, in most cases “secret” meetings to “save the world”; such as today’s “emergency” meeting in Italy, in a last ditch effort to “ring-fence” the Italian banking sectors’ €360 of non-performing loans, via a citizen-funded (via upcoming tax increases and/or ECB money printing) “bailout.”

Or this coming Sunday’s “OPEC/non-OPEC” meeting, in which oil prices have supposedly run up to $40/bbl on the back of; despite – as Goldman notes above – NO CHANCE of anything materially bullish emerging.

Or comments from Shinzo Abe’s spokesman that there was in fact a secretive “Shanghai Accord” at least month’s G-7 meeting, targeting a weaker dollar.  Of course, per the constant stream of miserable Japanese economic data, such as the aforementioned machine orders report, he says such report does not necessarily exclude Japanese intervention to weaken the Yen – which it better do soon, as it is surging against the dollar, destroying tens of thousands of “carry traders” the world round.  Which includes, I might add, numerous, already-insolvent Central banks.

Not to mention, who knows how many “emergency meetings” were held regarding the fallout of the aforementioned Austrian bail-in were held – or heck, the Panama Papers dissemination; including, as it turns out, surging Precious Metal prices.  To that end – wouldn’t you know it – since Sprott priced its PSLV secondary offering Friday morning, using the proceeds to immediately purchase $75 million of physical silver in the market (i.e, the “major blow to the Cartel” I wrote of Friday), silver prices have rocketed higher – up to $15.75 as I speak, from barely $15.00/oz.  Think about it – just $75 million of silver, or 1/1200^th of what the ECB is current printing each month!

Similar Posts:

None Found