Tag Archives: silver

Gold and Monetary Populism: The Oligarchs’ Mortal Enemies – The Peoples’ Salvation

Desperation is setting in. The blatant attacks on gold are occurring almost exclusively during the Comex floor-trading hours now. Every night gold pushes higher as Asia’s appetite is seemingly voracious. The two most systemically dangerous banks right now, it was revealed according to the IMF, are JP Morgan and Citibank. I’m sure part of the smash is in response to that. All this action between gold and the dollar means is that the counter-force reaction to what the Fed is doing is going to be even more forceful. They already can’t control the dollar and the strong dollar is going to decimate Q4 revenues and earnings. Give it 6 months and I bet they start talking about the need to print more money. Gold will sniff that out well ahead of time.

Stewart Dougherty has provided another guest post for IRD. I think this is his best commentary yet.

The people hold in their hands the key that can unlock the door to financial independence and steadily increasing wealth, but they do not realize it. An obvious truth, being clear, is the hardest thing for people to see. They look right through it, as though it were not there, even though it is. Once they do see a truth, they never overlook it again. It becomes an invaluable fixture of their thinking.

Like the adult elephant taught from youth that the light chain around its leg cannot be broken, the people believe that the strangulating government currency chain around their necks is unbreakable. The fact is that if the grown elephant pressures the chain, it will snap, setting him free. The people, too, have the power to break the currency chain that chokes them and reclaim their financial freedom from the plunderers who have usurped it, if only they would study, understand and act.

The key to which we refer is private money, the most important forms of which are physical gold and silver. Cash is another, albeit greatly inferior form, in that currencies (not technically money) are controlled by their issuers. Global Deep State efforts to restrict or even eliminate the people’s ability to possess private money are now rampant, and running into resistance. Denied the ability to possess private money in the form and quantity they desire, the people will be deprived of financial freedom, and in the end, given that freedom is indivisible, any freedom at all.

Given the oligarchs’ clear, unmistakable intention to deprive the citizens of financial freedom, the people now have not just a financial, but a moral obligation to redenominate a portion of their liquid assets into private money. The people need to tell the Oligarchy in clear terms that they have gone too far, and will not be going any farther.

There are 7,000,000,000,000 people on this earth. There are fewer than 5,300,000,000 troy ounces of gold. If every person were allotted an equal share, each could possess 0.76 troy ounces of gold. In that gold can only be mined, and not printed by Deep State oligarchs, this sum is projected to remain consistent going forward, and may even shrink if mining cannot keep up with population growth.

The actual ownership of gold is vastly skewed. Fewer than one billion troy ounces of physical gold worldwide are thought to be potentially available to the market, in current circumstances. This is not gold actually offered at this time, but that could be offered to the market if the selling climate were opportune and owners decided to sell. The other 4,300,000,000 ounces are believed to be immobile, at least for now, and include government reserves, non-trading private reserves, and forms of jewelry that are highly unlikely to be sold unless people’s personal or financial circumstances significantly change. People do not sell their wedding rings or other jewelry having deep sentimental value unless there is a pressing reason to do so.

This means that there are perhaps 1,000,000,000 ounces of gold available to 7,000,000,000 people. Put another way, 1,000,000,000 ounces are available to what is estimated to be well more than $200,000,000,000,000.00 in net private wealth. Which translates into 0.143 available ounces per person; and total available gold amounting to only 0.65% of total global private wealth, at a price of $1,300 per ounce. If a low single-digit percentage of the people or the private wealth decided to mobilize into gold, where would the gold come from? The answer is: from radically higher prices, because that is the only place it can come from. We wonder, what is it about these numbers that the people cannot see? The conclusion is: the obvious, which is the hardest thing for them to see. Gold is so rare, and demand for it so potentially overwhelming that it is literally ridiculous it sells at today’s price. Yes, the “Great Oz” of price manipulation and corruption continues to hold sway for now, but Toto is sniffing him out and zeroing in. He is going to find the curtain and pull it back, and then all hell is going to break loose, because the current price of gold is a colossal fraud and lie. An historic price reset is inevitable.

At its core, gold’s price is not a Deep State oligarchy manipulation problem, even though we know for a fact that the oligarchs totally dominate and rig the precious metals market to manufacture fraudulent profits for themselves while advancing a corrupt, statist narrative to assist their government puppets.

Gold’s absurd price is, in fact, a marketing problem. The gold mining industry has been singularly incompetent when it comes to marketing its precious product. The gold industry has not produced one original marketing idea in 250 years, and gold’s current price proves it. Once people’s eyes are opened to gold’s unparalleled virtues as private, personal money, everything is going to change, most notably, its price, which is going to surge out of fundamental necessity.

Brexit and the Trump victory reflect a rising populist tide in the west. The people are saying that they want to take back their countries and their lives. We believe that the same type of popular anger and dissatisfaction that has produced the sharp and ongoing political reset in the west is likely to erupt next in the field of currency and money. The populist movement was fomented in the first place by people who had become disgusted by constant financial regression and the real prospect of and trajectory toward eventual impoverishment. Their sentiments have set the stage for a populist monetary revolution. A determined segment of the people, those who still have liquid assets, is going to figure out that now is an excellent time for them to take back their money. They are going to say it’s time to “drain the monetary swamp” of its Wall Street swindlers and central bank fakers, escape the financial tyranny of zero interest rates, and return to ancient money that is rare, possesses intrinsic value, is beautiful and is virtually certain to appreciate.

For the oligarchs, it is one thing if the people want to take back their countries; it is an entirely different, and totally unacceptable thing if they want to take back their money. The control of national currencies, money supplies and interest rates has been the Deep State oligarchs’ secret preserve and heavily protected “No Go” zone for decades. Their domination of this preserve has enabled them to mint phenomenal amounts of, guaranteed, risk-free profits; profits not measured in the millions or billions, but in the trillions of dollars. To the oligarchs, monetary populism means war. Which now rages, even though most people don’t yet know it.

To combat monetary populism, the oligarchs have launched a War on Private Savings. To put the monetary genie back in the bottle, they need to herd the people’s liquid funds into institutions they control. Now that they can clearly see the whites of the people’s eyes, as the populist sentiment spreads into finance, they have put their actions into overdrive. They need to defeat monetary populism before it becomes a “movement,” which it has every potential of doing.

The War on Private Savings is the largest conflict ever declared in the history of mankind. It is different from all other wars because: it is being fought against humanity, not a national or political enemy; it is global; it is being waged with trickeries, lies, schemes, propaganda, prohibitions and demonetizations, not military weapons; it is synchronized; it targets personal, after-tax savings, not a country’s natural resources, geography, government or political leaders; it has been declared by a non-elected Oligarchy; it is about contempt for freedom; and its ultimate objective is about one thing and one thing only: the conquest of other people’s money.

The War on Private Savings, while massive in itself, is actually part of a larger conflict, the War on Human Freedom. While human freedom has been under attack in various ways since the dawn of mankind, it has never faced such a concerted, coordinated, massively well-funded attack as the one now declared against it by the Deep State oligarchs. If the initiators of the War on Private Savings win, the real casualty will be human freedom, because there can be no human freedom if there is no financial liberty. The stakes of this war for the people are impossible to overstate.

India has been turned into a 1.3 billion person human laboratory for the advanced research, development and testing of the weapons to be used in the full-scale, global War on Private Savings. The weapons that prove successful in India will then be used on other people in other nations throughout the world. What happens in India is a global prologue of what is yet to come.

The term “War on Cash” is a deliberately misleading misnomer. It is merely one act in a much more sweeping drama. There is no war on cash; there is an attack on cash. The attack on cash is just one of the many battles within the much larger War on Private Savings. We can now observe a rapidly intensifying, synchronized, global effort to demonize, control and eliminate cash in Australia; Europe, especially the Nordic countries; the United States; India; and virtually everywhere in between. The War on Private Savings is strategic; cash controls are tactical. The oligarchs want you to focus on the tactic, not the full strategy. You don’t want to fall for that.

In addition to the attack on cash, other tactics currently being used in and planned for the War on Private Savings include: 1) Low and negative interest rates that are less than the rate of inflation and therefore rob savers; 2) Civil asset forfeitures; 3) The explosion of government regulations accompanied by confiscatory fines; 4) Across the board tax increases; 5) The creation of entirely new tax categories (e.g., Obamacare; carbon taxes) that pile onto but never streamline or reduce existing tax structures; 6) The intense manipulation of precious metals prices, resulting in artificially low prices that lessen savings; 7) Endemic corruption resulting in increased consumer costs and national debt that must be borne by the people (e.g., Medicare; Medicaid; Military (for example, the $6 Trillion in unaccounted-for Army spending, alone, all of which is now constitutes additional national debt); 8) Massive, structural government deficits that heap even more non-repayable debt upon the people; 8) Open borders, which spike the cost and deficits of government, which are similarly borne by the people and nationally impoverishing; 9) Deliberately engineered inflation that devalues national currencies and savings; 10) Outright demonetizations and forced conversions of currencies, with massive attendant costs, a new weapon that has been rolled out in India; to name just a few examples of the existing and emerging weapons being used against the people in the War on Private Savings.

To sum up the situation, we believe that: 1) Populism is spreading into the Forbidden Zone of currency and money; 2) To prevent Monetary Populism from becoming a “movement” that they cannot contain, the Deep State Oligarchs have declared a War on Private Savings, as part of a larger conflict, a War on Human Liberty; 3) Precious metals, particularly gold, are an extraordinarily powerful weapon in the hands of the people, and one that can defeat the Oligarchs’ oppressive, anti-humanitarian campaign, but only if the people take up the weapon en masse, and soon; 4) The Deep State oligarchs are fully aware of the threat posed to them by the weapon of private money wielded by the people, which is why they are attacking; 5) If, through simple messaging, the people’s eyes are opened to the unique capability of precious metals to restore to them the financial stability, freedom and dignity that are rightfully theirs, no less than their other constitutionally guaranteed rights, they will embrace this obvious solution in large numbers, ensuring their victory. In the process, monetary populism will be transformed from a sentiment into a powerful, invincible movement.

In our next article, we will discuss the simple ways by which the managements of publicly traded precious metals mining companies can ignite demand for and price escalation of their product, as is required by their fiduciary obligation to shareholders.

Stewart Dougherty
November 22, 2106

Stewart Dougherty is the developer of a principles-based forecasting methodology named Inferential Analytics. The unique IA model assesses monetary, fiscal, financial, market, social, political, empirical and anecdotal factors to get a glimpse of tomorrow, today. He has 35 years’ worth of management, corporate strategy and business development achievement. He is a graduate of Tufts University (MA) and Harvard Business School (MBA).

Is Bottom In For The Latest Gold Market Paper Attack?

The move by Modi to eliminate large-denomination cash bills from India has set off an unanticipated physical gold buying frenzy that has driven Indian ex-duty import premiums in the mid-$30’s.  It’s the widest I’ve seen in them in the many years I’ve been tracking that data (via John Brimelow’s Gold Jottings report).  “”I’m getting non-stop calls from unknown numbers from people asking for gold,” the jeweller told a Reuters reporter in an interview inside his shuttered showroom..”

Ditto for China.  The SGE premium last night was $12.59 to spot gold.  As Brimelow describes: “In this case the high premiums probably simply reflect capacity constraints among Chinese import dealers. Possibly there is a Trump/devaluation effect boosting local appetite, besides of course the price decline.”

My personal view is that, given the extreme amount of paper being launched at the LBMA and Comex right now, and given that the price of gold seems averse to going any lower (at least for now), the worst of the beat-down is over.  Too many people are looking “down” right now…Eric Dubin has also called a “double bottom in gold.”   He and Jason discussed the precious metals market, among many other topics in their lates Welcome to Dystopia episode, which you can access here:   The Bottom Is In.

 

Gold & Silver: Light At The End Of The Tunnel

Gold and silver and the mining stocks still have tremendous YTD gains despite the highly manipulated take-down that has been orchestrated since early Wednesday morning.  The smash has been executed entirely in the paper derivatives in London and NYC.   De rigeur for the Central Banks.

Eric Dubin discusses why we’ve probably seen the last of the downward manipulative pressure on gold and silver:  Gold and Silver Decline Is Fading, Dow Rolling Over  and Rory Hall published an article on Trump that accompanies the precious metals analysis and our Shadow of Truth episode to be released later today:  The Trump Trojan Horse

I moved checking account cash into my Bitgold account on Saturday, Sunday evening and this morning.  I shorted Capital One at the open today and added to my First Majestic calls. At least I put my money where my mouth is, unlike most of the alternative fear porn promoters…

Silver Signals The Flight To Real Safety Is On Again

Gold is powering higher because the dollar is dropping. The dollar index is down 1.7% in the last 3 1/2 trading sessions. It’s down 2.3% vs the euro in the last 5 1/2 days, down 2.1% vs the yen in the last 3 days and down nearly 2% vs. the Swissie since Sunday night.

This is NOT about the political chaos connected to the U.S. election. That’s a sideshow distraction to the real problems going on behind the scene.

The U.S. economy is starting to collapse. This is becoming glaringly evident from most of the data, notwithstanding the highly manipulated economic reports like auto sales.

The movement back into non-fiat assets is starting again – anything connected to debt, like housing, is a de facto fiat asset. The best indicator of this is not gold, but silver. Silver was correlating with SPX for most of October, when the investment “thesis” was “a strengthening economy is good for industrial metals.”

The graph below illustrates this. It shows silver’s movement vs. the SPX for the last 3 months:

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Silver correlated almost perfectly with the movement of the SPX for most of October (shaded area on the graph). But silver has moved up while the SPX has been selling off (including today, Nov 2nd) the past 4 trading sessions. This signals a switch from silver performing as an “industrial” metal to silver functioning as a “monetary” metal.

Certainly based on the gold-silver ratio, silver is extraordinarily cheap to gold and thus represents a prototypical “value” trade as the markets begin to accept and reflect economic reality and reject the politically-charge propaganda about a “healthy” economy coming from the Fed, the White House and the Democratic candidates.

IRD sponsor’s the Mining Stock Journal, which provides unique commentary and insight into the precious metals and mining stock market.  It also presents typically an under-followed junior mining stock investment idea and, when warranted, large-cap trade.  A few issues ago I recommended First Majestic calls.  As of today,  those calls are up over 50% from offer side at issue to bid side right now.   New subscribers also receive all of the back-issues.  You can subscribe by clicking here:  Mining Stock Journal.

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Gold Will Soar Regardless Who’s President

We can ignore reality but we can’t ignore the consequences of ignoring reality.   – Ayn Rand

Perhaps the most infuriating aspect of last night’s final “debate” is the suppression of the truth.  Throughout all three debtes, Hillary overtly avoided answering any direct quetions regarding her infamous emails, thankfully put on display for all to see by Wikileaks.

Last night she pivoted right to blaming it on the Russians.  Talk about conspiracy theory. It is highly improbable that the Russians hacked her illegal email accounts for the purpose of influencing the election.  But Hillary used this sound-byte to deflect away from the Truth.  All of the Truths exposed by the leaked emails which point to Hillary’s criminal activity, including collusion with the media (CNN specifically) to rig the outcome of her primary race and selling access to the State Dept and to Wall Street Banks for donations to the Clinton Foundation.  Those are just two of many acts of criminality exposed by the emails.

But in Hillary’s world, Truth is a liability which would prevent her from ascending to the Oval Office where she can peddle and steal  her way from an 8-figure net worth to a 9-figure net worth. Maybe her nickname will be “three commas.”

That said, we hope Hillary is elected because her supporters will not only end up regretting their choice, but it will adversely affect them and their families forever.

Regardless of who wins the election, gold  and silver are getting ready for another surprising move higher.   The Harry Dent  Jr’s of the world will be left grasping for excuses for why their prediction for a much lower gold price is so horribly wrong.

We discuss the tragic U.S. Presidential election and the reason why gold is getting ready to take off again in today’s episode of the Shadow of Truth:

The Short-Sell Report On First Majestic Silver Is Fraudulent

In my last issue of the Mining Stock Journal (Sept 15), I featured trading opportunities in three large-cap mining stocks plus I explained why a recent buy recommendation from the National Inflation Association was a nothing more than a pump-n-dump operation.

Although the sell-off in AG stock was attributed to a highly negative report issued by Kerrisdale Capital, the truth is that the recent price correction in AG is a function of AG revising its full-year production outlook lower plus the correction in the overall sector. In fact, the short report issued by Kerrisdale – headed by a sleazy financial operator who was recently busted for a DUI and cocaine possession – was nothing more than a fraud-filled hit-job:

I noticed several problematic errors in his analysis. In fact, Adrange’s thesis and conclusion is an analytic disaster. I don’t know whether or not this guy has any experience with mining stock analysis but it was clear to me that he does not know what he is doing in this sector. Perhaps the most glaring error – in fact I have to wonder if it was intentional for the purposes of supporting his thesis – is that in valuing AG vs. other miners based on resources, he only uses measured & indicated resources. This is outright incompetence or fraud, or both.Mining Stock Journal, September 15, 2016.

I further lay out the case for why the current sell-off in AG stock is a great buying opportunity plus I recommend two other large-cap stocks (note: the Mining Stock Journal primarily focuses on relatively unknown junior exploration companies).

The NIA recently was promoting a junior mining stock with which I was not familiar. I did some research on it and had discovered that the NIA had been promoting it. The basis for the “strong buy” was entirely incorrect data presented. In fact, the assertions and data presented were either a product of unintentional incompetence or intentional misrepresentation.  I explain in my analysis:

The bottom line with the NIA report is that is almost entirely inaccurate and full of hyperbole. It’s clearly a report that was designed to facilitate a pump and dump operation. If you own this stock, take advantage of the recent move in the stock triggered by the NIA, and fueled by stock-trading chat board childishness, and unload your shares. I don’t want to assert that this company is a sham, but if it has any intrinsic value, it’s far below 10 cents/share.

In the next issue of MSJ, I’ll be featuring a little-known silver exploration company trading well below $1 that, in the words of the CEO, will eventually be $10-15 stock (Canadian $’s). After reviewing the story with CEO yesterday, I’m amazed that this stock receives almost no attention, even on trading chat-boards. You can access MSJ with this link, which includes receiving all the back-issues (via email):  Mining Stock Journal Subscription.

Full Metal (Gold And Silver) Price Manipulation

I’m not sure of the significance of 20 minutes past the hour, and I’m sure it has some sympbolic meaning to the gold manipulation cabal, but for the last week the price of gold has been getting slammed with an avalanche of Comex confetti at regular intervals at 20 minutes past the hour.

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THAT is not the graph of a market that is allowed to trade freely.   But notice how gold bounces back sharply from every take-down attempt.  This is especially significant given that this is one of the slowest seasonal periods of the year for the buyers of physical gold and silver.

This morning (Tuesday morning) was particularly blatant.  Gold had traded steadily higher overnight from $1344 (December futures basis) to $1364 just after the Comex floor opened for business (8:20 a.m. EST/6:20 a.m. MST).

Whenever the elitists start to lose control of gold, they roll out one of their Fed stool pigeons to threaten the world with a 25 basis point (one quarter of one percent) rate hike at the next FOMC meeting (September).   Today’s park bench popcorn scavenger was NY Fed President, Bill Dudley, who stated on Fox Business that a rate hike in September is “possible.”  I guess that means September’s meeting is a “live meeting” – a phrase Dudley and SF Fed Prez, John  Williams, propagated the mainstream media propaganda meat grinder with in May – LINK .

But gold shrugged off Dudley’s empty, Straw-man threats and closed today respectably up about $5 from the close of yesterday’s afternoon “access market” trading session.  I still believe that gold could see $1500 by Halloween despite the Comex B-52 paper bombs being dropped religiously on the market.  And we are just one economic, political or societal catastrophe from gold making a rapid run toward $2,000.

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Buy every manipulated sell-off in gold and silver.  It’s the true “TINA” idea.

A lot of readers have asked me if it’s too late to buy mining stocks at this point. I refer them to a long-term graph of GDXJ so they can see where the junior miners have been relative to the level at which they bottomed. It’s a prototypical chart of a market that is in the early stages of a massive move higher. The key is to identify the exploration companies that have a high probability of hitting the proverbial pot of gold. The last 5-years caused a lot of damage to the junior sector, but there’s a lot of companies with “a pulse” that have been revived, albeit significantly undervalued from a risk/return standpoint.

My Mining Stock Journal is focused on finding companies that are currently overlooked by the mainstream mining stock analysts and newsletters. As an example, I presented a stock idea in mid-April that is up over 280%. It recently doubled in price shortly after a major newsletter service poo-poo’d the idea. I draw on several seasoned veteran contacts plus 15 years of experience researching and investing in this sector. You can access the MSJ – a bi-weekly report – here:   Mining Stock Journal.

I just received your August 4 Stock Journal and before getting to your suggestion and half way through your guidelines for picking stocks I wanted to write this first. I have attempted to find those obscure companies and must say it is most difficult. Upon reflection I should have just waited on your bi-weekly report because your picks have been awesome. – “Jim”

The Stock Market Is A Weapon Of Massive Wealth Destruction

The discussion about p/e ratios and other valuation ratios derived from Company-issued GAAP accounting financials is idiotic.  The GAAP accounting allowances have been liberalized beyond a Bernie Sanders wet dream over the last 20 years.   The p/e ratio at the peak of the tech bubble is completely different from the p/e ratio at the top of the 2007 stock bubble which is completely different then the p/e ratio now.

If 1999’s or 2007 GAAP standards were applied to today’s earnings, the P/E ratio on the S&P 500 would be at least as high as 65 p/e ratio registered in 2007.   By several other metrics, most notably market cap/sales ratio, the current stock market is by far the most overvalued in history.

And that does analysis does not incorporate any adjustments for the fraud component of contemporary corporate accounting.

The S&P 500 and Dow are hitting all-time highs this week.   This was triggered by the Ben Bernanke influenced Bank of Japan decision to engage in “helicopter money” activity in an attempt to stimulate economic activity.  Notwithstanding the fact that Bernanke is likely the most destructive Central Banker in history, Japan’s decision will end in destruction of its currency.  Maybe that’s what the NWO’ers are working toward achieving anyway.

Interestingly, the U.S. stock market reacted counter-intuitively to Japan’s move.  The yen and other Asian currencies plunged vs. the dollar, making U.S. manufactured exports to Japan/Asia more expensive and making Asian imports into the U.S. cheaper.   This in turn will further depress U.S. corporate revenues and earnings, which have dropped 5 quarters in a row – likely a 6th quarter when we get to see Q2 earnings reports.   To label this response by the U.S. stock markets “idiotic” is an insult to the word “idiotic.”

Beneath the glow of a stock market on fire, the U.S. economy is collapsing, especially the consumer.  I’ve detailed the decline in a key consumer spending metric, dining out, to demonstrate that middle class disposable income is shrinking quickly.  The Canadian brokerage firm, Canaccord, released a report this morning which stated that, “said the firm’s checks indicate a material decline in sales and traffic trends in casual dining restaurants was seen in June LINK.

June auto sales came in below expectations.  This is despite a new record in auto debt issuance.  The auto debt bubble is starting to look a lot like the housing mortgage bubble of 2005-2008.

The price of oil is starting to drop quickly again.  Refiners are cutting crude oil orders quickly as demand for refined products slips as another oversupply condition has accumulated:  LINK.   The Fed and the TBTF banks have been working hard to keep the price of oil propped up.  They know all too well that a big bank balance sheet disaster looms if too many junk-bond financed companies go tits up all at once.  That will happen anyway and for that we can soon expect Helicopter Money in this country.

Speaking of Helicopter Money, Cleveland Fed President, Loretta Mester, gave a speech in Australia in which she alluded the possibility of using “Helicopter Money” to stimulate economic activity.  Mester is a voting member of the FOMC. This tells us that the FOMC itself has been discussing the possibility of dropping bags of money on the population.

This reflects a Fed that is in a complete state of desperation about the collapsing economy.  $4 trillion in direct money printing plus several multiples of that amount of money injected into the system in the form of credit failed to stimulate real economic activity.  Why are they talking about even more?   Sure, housing and auto purchases using DEBT were stimulated, but that ship has sailed unless the Fed wants to give out money for down payments.

The Fed is even more desperate to keep the stock market elevated. If the stock market collapses, or just drops over 10% for an extended period of time – as in a few months – every single pension fund and insurance company in this U.S. will collapse.  It’s a simple as that.

In other words, the stock market is one big weapon of Mass Wealth Destruction.  You can protect yourself by unloading your non mining stock dollar-based “investments” and moving your money into physical gold and silver.

I am expecting a MONSTER move in the precious metals between now and the end of the year.  I will lay out an overview of my views later this week…I save details behind my analysis for subscribers to my Mining Stocks and Short Seller Journals…

 

Will Silver Hit $54?

With all the action in silver and gold on Sunday night July 3, 2016 we, at Shadow of Truth, thought we would provide a quick update on what has happened and what could potentially happen. Silver, in particular, looks very, very bullish. Dave breaks down all the technical charts and Rory provides some color commentary.

Some of this was inspired by our friend Jesse, Jesse’s Cafe Americain, in a recent article, Silver Cup and Handles Project to a Price Target of $54, Jesse shared the following:

I know some of you have been projecting these nested ‘cup and handle’ formations on your own, because several readers have sent their examples to me and have asked for comments.My first comment is the most important and I wish you to take it to heart.

Projections such as this are not forecasts, because the chart formations in these examples for the most part have not been ‘activated’ and are therefore merely potential things, possibilities, lines on a page subject to a great many exogenous forces and variables, including human and institutional decisions.

Only the cup and handle ‘a’ on the chart below has been activated and achieved fairly quickly I might add. We are now working on ‘b’ and it will not be activated unless the price of silver takes out 21.50 or so.

And then and only then if the price of silver in dollars holds that level with the kinds of retracements and pricing action one would expect to see as a confirmation of it can we say that the chart formation is active and ‘working.’ And even then it could fail. Continue Reading>>>

If you look at the following charts the picture it paints seems to be fairly clear. The first chart, weekly silver movement, clearly shows the first line being broken. The second line, approximately $27.00, is the next line of resistance. Once that line is broken, according to technical analysis, silver should run to the mid $30’s before it meets the next line of resistance.

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Will any of this happen? Your guess is as good as mine. What is 100% clear and undeniable – the first line of resistance has been broken and the algorithms should be entering the market. If silver stays above $20.30 overnight Monday July 4, 2016, the algo’s should kick in and it should be game on.