Hold tight to your metals. When this thing flushes, the market crash will be spectacular and the move up in the metals will be equally spectacular. Most people in this country, regardless of how paper dollar rich they are, will be ruined. – Dave Kranzler, Investment Research Dynamics, Golden Returns Capital
As most of you know, gold and silver were in serious rally mode yesterday (Sunday evening) after the CME Globex computer system opened, followed by India and Asia. The metals rallied throughout the Asian physical market session, only to be sold down once Asia closed and the fraudulent London/NYC paper metal markets opened (click to enlarge):
The graph above shows the overnight action in silver. Gold traded in a similar fashion. Conversely, the S&P 500 futures were red overnight. After the early bad economic and geopolitical news cleared the tape, the Fed launched its SPX boosters and the S&P quickly went from down 1 to up over 8 points.
By the way, for anyone interested in taking advantage of a soon to be collapsing real estate market by shorting the stocks of homebuilders (Homebuilder Research Reports) should know that the Construction Spending report for January missed the Wall Street Einsteinian consensus estimate by huge amount. Construction outlays plunged 1.1% vs. the .3% gain expected. This was vs. being up 1.8% for January 2014 from December 2013. This data does not bode well for new homebuilders, which are insanely overvalued and overleveraged with debt and unsold inventory right now.
I was chatting with a well-know financial markets guru on Friday. In his work, he chats off the record with several high profile professionals who are either directly or indirectly connected to what is going on “behind the curtain” in DC and Wall Street. He confirmed for, based on his off the record conversations with these people, that the western Central Banks – especially and specifically the Federal Reserve – are manipulating ALL of the markets 24/7. As my title states: our system is a complete fraud.