This commentary is a partial answer to the manipulated raids in the gold market since last April. Those raids may be hurting the Precious Metals game players, weakening their confidence and “disproving” gold’s worth against a fiat currency, but they serve a greater purpose, as in Federal Reserve payback time to China. Here’s why.
So writes Michael Noonan (edgetraderplus.com) in edited excerpts from his original article* entitled Gold and Silver – Western Bankers (Forced) Bowing To China.
[The following article is presented by Lorimer Wilson, editor of www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
Noonan goes on to say in further edited excerpts:
On Friday morning, gold trading was shut down for 10 seconds in a “stop logic” event, as the CME explains. In essence, when there is an overload of orders that cleans out stops, the market halts, (10 seconds???) “designed to prevent exaggerated price movements.” In a sorry-ass explanation that defies common sense, except to protect the criminal exchange behavior, we give this CME propaganda no further consideration.
“Someone” sold 2 million ozt. of paper contracts at one time. There does not seem to be much interest by the exchange, and none by I-cannot-find-any-wrongdoing-Department- of-Justice-head-Eric Himpton Holder as to who was (ir)responsible for what would be considered an act of terrorism were it against the FX “dollar” or Fed-driven stock market.[That begs the question:] “Who would do such a thing?”
- Smart money does what it can to hide its accumulation, when in a buying campaign, or distribution when engaged in a selling campaign. Smart money would not do such a thing.
- A prudent investor employs capital preservation tools and would not do such a thing.
- The average trader is too poor to own 2,000,000 ozt of gold so could not do such a thing. No liquidation margin call, here.
- What about dumb money? Who represents dumb money? Why central bankers, of course, and they are on a suicide mission to destroy the financial economy in order to save their fiat (out of) control. Guess which country is the largest holder of toxic and worthless US Treasury Bonds? China.
China is still pissed at the U.S. government for selling out China’s gold, (on loan, but sold out from under them, anyway), back in the 1990s. As the holder of over a $trillion in US T-Bonds that are proving worthless, China is a Tiger getting rid of that paper.
The Plausible Scenario
Few will ever know the true picture, but here is a plausible scenario. It is a generally held view that central bankers have emptied their vaults of all their gold, and not just their own holdings. Through hypothecation, re-hypothecation, and who knows what more, central bankers have also sold every other country’s gold on loan. German gold: Kaput! Allocated gold from wealthy private holders: Gone! (No! You cannot see your gold that we hold for you in our bank. We stole it.) Where did it all go? Shipped East.
What about all that sovereign and private allocated gold that has numbers on each bar? So sorry. It was melted down, [accidents do happen], and remolded into bars and shipped to China. Why do you keep asking these unnecessary questions?
Why the manipulated gold raids?
It is a way to get the price of gold lower as a favor to the Chinese who are doing almost all of the buying to compensate for the worth less and less Treasury Bonds they are holding. If the central bank Fed does this for them, the Chinese will not dump all their holdings and cause the Western banking system to collapse. Instead, the greedy-but-dumb central bank Fed will cause the collapse of the US Federal Reserve Note, (also incorrectly called the “dollar”] along with the rest of the U.S. economy, but at a relatively slower pace.
Forget about all these stories of long lines to buy gold, record sales in coin purchases, a pittance in comparison to the thousands of tonnes China, Russia, and a few others are buying at lower and lower prices, courtesy of the deceiving Fed, caught with its “goldenless” pants down. The game is up, and the Fed has chosen a slower death dance by increased money printing and QE-ScrewYou4Ever antics to buy time.
What does this mean for you?
Got gold? Got silver? If not, you got nothing.
All paper-dominated “things” (we cannot call them assets, except in the minds of the holders) have little to no intrinsic “value.” Despite the detractors who always say gold and silver are not forms of wealth, both PMs are immune from government fiat dictates. Gold and silver are the equivalent of a wooden stake to drive into the central banker’s fiat heart, if they had one.
It is gold and silver that is the nemesis of all central bankers, for PMs would break the fiat paper back of their control. Why do you think the Federal Reserve was created 100 years ago by the New World Order? To get rid of the gold/silver specie backing of United States Notes and replaced with no-backing-whatsoever Federal Reserve Notes, as the means for stealing the entire wealth of the United States, forcing the country into bankruptcy in 1933, and turning the U.S. into the Third World-rate country it has become.
Each and every week we advocate buying physical gold and silver, at any price. Just get it and hold it personally. Buying physical PMs is not an investment; they are necessary for your survival. Their ownership is the only way to avoid total bank/government control (the problem with land it that is not portable, and it can be more easily confiscated than gold and silver). They are the best means of preserving that which is yours. They are an insulation from bank bail-ins.
Why anyone still keeps money in any bank is a mystery. The gold and silver that you own and hold will escape the likely conversion of pension accounts, 401ks, etc. to be “taken,” as in theft, by the government, for your own good, of course, and converted into (worthless) government bonds.
You have a choice:
- Do you want to have your life run by a private banking cartel (which the foreign-owned Federal Reserve is) and, in turn, federal government sponsored (which is controlled by the foreign-owned Federal Reserve)? or
- Do you want to control your own life and financial destiny?
The choice is yours. Your self-liberation is simply choosing to buy and hold as much gold and silver as you can. You have no third-party counter-risk. There is no debasement – an ounce of gold or silver is the same as it was for the past 4,782 years. (Why always 5,000 years?)
You are an eye-witness to the Western banking cartel’s self-destruction.
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
Other Noonan Articles:
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