The Entry Points
Andrew Maguire is out once again with his claims about the gold manipulation. “The whistleblower who blew the gold and silver markets wide open in 2010 now says gold and silver will skyrocket in 2017…. The Death Knell Of Central Bank Gold Manipulation ….Andrew Maguire: “Here we are again at 100/1 (leverage in the paper gold market with commercials) short, as we were when we first spoke back in 2010. But this time there is no Eddie George to come up with a Bank of England sale of 400 tonnes of physical gold. There is no (substantial amount of) physical gold available at this price to swamp the (physical) market. So now we have a physical market that is in control, and this time there is no physical to back it (the short positions) up.”
The interview, of course, was mainly about manipulation. And Mr. Maguire seems like a nice gentleman, but once again Andrew, with all of the manipulation, how in the world did gold rally almost 8x in 12 years. These manipulators are obviously the most incompetent ones ever. If the so-called manipulation is true, then the old master manipulators like the great Jesse Livermore, would be totally mocking these modern day bumbling losers. They are apparently a bunch of Inspector Clouseaus. Why won’t one of the gold permabulls (sanely) explain to me how gold had that massive rally even with all of the manipulation.
So then Andrew started talking about the commercial signal failure (CSF) and reset happening within the next 90 days. Oh boy. If it’s true that’s fine, with my gold position. But it’s not going to happen, and we have been down the CSF road before. These CSF pronouncements crop up after a rally, “because” the “bullion banks, etc.” are about to have their short positions blown out. The last time Mr. Maguire was pontificating about a CSF was in July, pretty much right into the highs. Not a great time to be getting people bullish about gold, for any reason, stupid or not. Last July the weak hands had gotten themselves into a big pickle and were way out of whack, with their bullishness and ‘to the moon fantasies’. That isn’t the same situation today. But these stupid pronouncements are not at all helpful, whether it be CSF, Comex default, yuan SDR, US elections – these things are never a reason to buy. In fact, it doesn’t even matter what the “news” is, true or fantasy. When a market has had a big run, the weak hands are all dreaming of the wild “price targets”, the permabulls are super confident, and any “news” is supposedly bullish, then it’s never a good time to buy. But it’s certainly a great time for the market gurus to sell their subscriptions.
Leave a Reply