This link was sent by a reader and I only wish I had read it on 9.18, because I’d have heightened further the caution that I had due to the gold bug sentiment data that zoomed from 20% to 80% in a day.
This is the kind of thing that always gets punished. When the “community” starts congratulating itself for a job well done, a big hit is sure to follow. Every time.
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“Congratulations to those in the GATA, King World News, and GoldMoney communities who have contended that the pounding done to the monetary metals in recent months was engineered to allow the bullion banks to escape their short positions, to support the Federal Reserve’s repudiation of its plan to reduce its bond buying, and to support money printing by central banks generally. Special recognition in this respect may go to Sprott Asset Management’s Eric Sprott and John Embry, GoldMoney’s James Turk and Alasdair Macleod, market analyst Ted Butler, Andrew Maguire, and Hong Kong fund manager Bill Kaye, among others.
Today’s retreat from “tapering” by the Fed may have exposed the whole U.S. government as a big bluff in regard to the economy.”… and so on and so forth.