War mongers in the West want to further destabilize Syria and by all accounts from mainstream media mouthpieces, an attack is imminent. History shows that when crisis is on the near-term horizon, so-called policy makers in the economic establishment attempt to keep gold (and now silver) under wraps. But the physical markets are too tight to be able to orchestrate the level of short-term control seen previously.
The latest attack on the mining shares today was a blatant attempt at damaging sector sentiment overall.
It will fail.
An Exclusive Update From The News Doctors, by Eric Dubin:
Memo to Goldman Sachs, Blackrock, JP Morgan, Barclays and all the other monkeys that will remain nameless: Nice job showing how your backs are against the wall. Dolts.
As I warned yesterday, precious metals came under attack early in the New York session – especially silver. But all things considered, the cartel wasn’t able to do much damage. There’s a war brewing in the Middle East and buying of physical gold and silver has been so strong this week that the cartel is having a hard time making the paper market tail wag the physical market dog.
So, what to do? Well, there’s always the option of urinating all over the precious metals equities market for a second day in a row:
Notice those two other lines in the chart? The S&P 500 and SPDR GLD gold proxy barely moved relative to the huge bashing in the GDX mining shares ETF. Today, there was no fundamental reason for this large of a decline in mining shares. This is blatant manipulation. But don’t bother asking the SEC to look into it. We wouldn’t want to disturb their pornography surfing.
Bottom-line: War mongers in the West want to further destabilize Syria and by all accounts from mainstream media mouthpieces, an attack is imminent. History shows that when crisis is on the near-term horizon, so-called policy makers in the economic establishment attempt to keep gold (and now silver) under wraps. But the physical markets are too tight to be able to orchestrate the level of short-term control seen previously. This attack on the mining shares today was a blatant attempt at damaging sector sentiment overall. It will fail.
In yesterday’s article I noted that there might be some execution of a long bullion, short mining shares spread trade being established by some hedge funds. That can only explain a small part of today’s trading action – if any. The relative price performance is the dead giveaway. This was nothing more than a cartel hissy fit. It’s particularly amusing to see massive buying of the GDX immediately following the close of regular session trading. Someone got a nice bargain.
But hey, it’s quite likely Western governments are lying about last week’s chemical weapons attacks in Syria. What’s a little deception in mining shares among friends? Nothing to see here. Move along, please…