The Shock And Awe Ambush Of Gold And Silver This Morning
A pure psychological warfare operation on the metals. I received several emails and phone calls from clients and colleagues who were in a panic. My response was: “It’s a mid-August Friday, the rest of the world is at happy hour or in bed. Most of the big players in this country are at the beach. India was closed last night for their Independence Day, which put a lot less demand-stress on the physical market. Something really ugly is developing behind the scenes that is not apparent yet and that’s why they smashed gold during the one of the most quiet trading periods of the year.
For the record, I mean to post this blog before this news hit: *UKRAINE FORCES ATTACK ARMED CONVOY FROM RUSSIA: LYSENKO
This is what happened at 7:40 a.m. EST, with no news or even triggers:
Shock and awe. Pure and simple. There was absolutely no news events that would have triggered the sudden selling of silver in huge quantities. As I write this, a little over 40,000 September silver contracts have traded since the Globex electronic session opened yesterday at 6:00 p.m. EST. Starting at 7:00 a.m this morning, over the next two hours over 13,700 contracts were dumped onto the Comex electronically and on the floor. That’s 34% in just two hours of the total volume over 15 hours. Gold futures were smashed 20 minutes later. Silver often leads gold down.
Why? Here’s the financial news that hit the tape when the contract dump started: Estee Lauder earnings, corrected Estee Lauder earnings, Spanish drought stirs fears of olive shortage, Israel CPI for July .1% vs. expected .1%. That’s it. Wait, NATO calling for de-escalation of Ukraine conflict and Ukraine accusing Russia of moving military vehicles across the Ukraine border. Are the latter two items reasons to annihilate silver?
The reason the metals were slaughtered temporarily is that U.S. knew well ahead of time that Ukraine would start bombing the Russian humanitarian convoy. How do we know? The Ukrainian military doesn’t even fart without U.S. permission. They bombed the metals because they wanted the spike up that would occur when the attack news hit the tape to start from a lower level. And they wanted to scare potential buyers away from the market. The evidence of that? The clients and colleagues who contacted me all freaked out this morning.
I doubled down on the leveraged junior ETF trust, JNUG, in my fund this morning pretty close to the bottom (I added at $24.20 – it’s currently at $25.50). This is transparent if you can divorce your emotions from the shock and awe of it.
My Easy Trade idea is still valid. I added to the fund yesterday right around the current trading level. The trade has already returned $3 and I’m looking for at least another easy $3 move higher. If you buy the report and want some options trading ideas, I would be happy to discuss some strategies if you email me. Here’s the link: EASY TRADE IDEA.
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It’s not all that hard to figure out. The counterfeit Federal Reserve Ponzi scheme has run it’s course and the sheer criminality of it is exposed every day (Counterfeiting and slavery). We will get a currency backed by gold and silver again but befor we do, they have to take the metal back to what it was when it backed real currency. For quite a while gold was around $35 per ounce but the government has the legal right to set it where ever they want to represent a dollar. Any amount of medal representing a dollar is ok when you consider that right now the only thing that backs a dollar or a pound is human sweat and labor. That act alone defines the Central Bankers as slave traders and they should be treated as such.