April 23rd-A Potential Turning Point For The “99%”
For the first time in the 15 years I have been in the Precious Metals space, I truly believe we are witnessing the “last days of the gold Cartel.” However, we’re not there yet – as evidenced by the fact that despite a blizzard of PiMBEEB, or “Precious Metal bullish, everything-else bearish” headlines since markets closed for the three-day holiday weekend; from Friday’s horrifying March (and downwardly revised February) retail sales reports, causing the Fed to reduce its 1Q GDP estimate to just 0.5%; to dramatically escalating North Korean geopolitical tensions; plunging interest rates (the 10-year Treasury yield is down to 2.20%; a falling dollar index; and declining stock futures; the Cartel still executed its 180th “Sunday Night Sentiment” capping of the past 190 weekends; and 818th “2:15 AM” EST raid at the London paper pre-market opening of the past 936 trading days – “Cartel Herald” algorithm and all. In other words, the definition of impossible, “sixth sigma” trading anomalies, better known as rank manipulation. To that end, consider the waterfall decline that took place at the London paper market open, with not a single other market budging.
Then again, when motivated by fear and desperation, trapped rats will do anything; which is precisely how I’d characterize the rapidly fading “powers that be,” as the hideous fiat Ponzi scheme they have fed on for decades, at the expense of the “99%,” implodes around them. To that end, consider that last weekend’s “upcoming silver Waterloo” update was predicated on the Cartel – i.e., the COMEX “commercials” – taking an all-time high naked short position, despite no visible financial crisis. Well, the new data was published Friday afternoon – in which, it was revealed that as of Tuesday, April 11th, said all-time high short position became “all time higher,” by another 2,068 contracts. This, with silver, as I write, trading at its highest price since Election Night. Trust me, Cartel fear has never been higher, in this must listen podcast.
I mean, what could possibly go wrong?
That said, the story that “takes the cake” for Cartel desperation this weekend – which of course, the “fake news” mainstream media didn’t even report on; was the shocking news that France’s cancerous political establishment is so desperate to avoid the “BrExit times 100” catastrophe that would be a Marine Le Pen Presidency, they are literally attempting to steal the election in plain sight!
To wit, as Le Pen “unexpectedly” took the lead in the polls, it emerged that due to a “monumental computer error,” 500,000 French citizens living outside the country were “accidentally” mailed two voting ballots, enabling them to vote twice in the election’s first round voting this Sunday, April 23rd.
As most of these expatriates consider the European Union vital to maintaining the ability to live in other EU nations, they are highly unlikely to vote for Le Pen; and since the French authorities have said they won’t invalidate the vote, or even investigate this issue until after the election, it is feared that Le Pen could literally have the election stolen from he – again, in plain sight. To that end, pray tell how the “betting line” odds of a Macron Presidency are currently 0.9/1, versus 3.3/1 for LePen, despite her being ahead of him in the polls!
We won’t know what happens until next week, of course. However, rumor has it – as was the case with the BrExit referendum and U.S. Presidential election – that the fake news media is heavily under-reporting Le Pen’s support. And frankly, if there ever was a “rallying cry” for her supporters, it is this blatant attempt to steal the election. In other words, an historically angry “99%” may well swarm the French polls Sunday in her defense. And if they do, propelling her to the election’s final round on May 7th, it may well prove, on a global basis, to be “a potential turning point for the 99%.” As while the French election is rigged; it, like the UK BrExit referendum and U.S. Presidential election; is likely not rigged enough to overcome the will of the people. Which, with each passing day, led by their “General,” Economic Mother Nature, is growing stronger and angrier. And oh yeah, more likely to eschew hyper-inflating fiat toilet paper for the real money known as physical gold and silver.
Andrew (“Andy”) Hoffman, CFA joined Miles Franklin as Marketing Director in October 2011. For more than a decade, he was a U.S.-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 through 2005. Since 2002, his investment focus has been entirely on Precious Metals – and since 2006, has written free, public missives regarding gold, silver, and macroeconomics. Prior to joining the company, he spent five years working as an Investor Relations officer or consultant to numerous junior mining companies. An archive of Andy’s articles can be found on the Miles Franklin Blog.
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