Since August, the gold price managers – aka “the gold cartel” – have been regularly dumping a lot of paper gold onto the Comex when the Comex floor opens at 8:20 a.m. EST. It’s been their standard operating procedure for the better part of the last 15 years. The fact that the world’s largest gold buyer – China – is closed all week for a holiday observance takes away the biggest physical market bid for five trading days, making it easier to smash down the price of gold using fraudulent fiat paper gold.
It’s hard to ignore that the events in the financial and economic system unfolding now are not unlike the events that occurred prior to the 2008 “great financial collapse,” which was a de facto western banking system collapse. The U.S. and European economies are contracting, the housing market is beginning to crumble (see this – link – for instance), the auto market is headed south as auto loan defaults are headed north and it would appear that the middle class consumer is out of disposable income. There are plenty of other factors that make this time around much worse than 2008, but we’ll save discussion of those for another day.
It’s also hard to ignore “quacking” coming from Deutsche Bank. It would appear that DB is on the ropes financially. The incessantly repetitive denials of any problems coming from Central Bankers and the DB upper brass make the “quacking” even harder to ignore. If it looks, sounds and operates like a collapsing bank…well, it’s probably a collapsing bank.
There’s no doubt that the recent take-down of gold and silver – especially today’s – is inextricably connected to some sort of financial system disaster brewing. In today’s Shadow of Truth, we discuss the massive hit put on gold and reasons why it’s likely an operation implemented to prevent gold from alerting the public that a potentially catastrophic financial hurricane is swirling around “offshore.” After all, it is hurricane season:
This email from one of Dave’s Mining Stock Journal subscribers is yet another indication that something ugly is unfolding with Deutsche Bank:
I have a very good friend who has been a financial market professional for almost 40 years. He’s very knowledgeable about the monetary system and the general state of the world economy. Last week, he was in Europe on business. His trip ended in Brussels, so he flew home from there on Saturday (this past weekend). He has zillions of frequent flyer miles, so he always travels in First Class. As he flew home this past Saturday, he noticed that there were a bunch of people in his section, and they were travelling as a group. Based on conversations he could overhear, it seemed that they were heading to the US for some sort of an emergency meeting about Deutsche Bank. One woman connected with the group approached my friend (under the mistaken impression that he was part of the group). She started to thank him for being able to get free on such short notice to attend the meeting. She didn’t say where the meeting was going to be held, but she did briefly mention the name of the group with which she mistakenly thought my friend was travelling. Unfortunately, he can’t recall the name, but it sounded like it had something to do with the EU. My friend let her rattle on for about 45 seconds before he politely informed her that he was not part of the group. The lady turned beet-red and clammed up immediately!