Here Comes The Hit
SteveQuayle.com
July 12, 2012
What do you think was the main purpose behind the aptly named MF Global? What do you think is the connection to PFG Best? Why is JPM connected to both commodity houses? Simple….this is how you start the metals beat down that I have been screaming about for the past two years. It struck me this afternoon and after doing some digging and making a few calls, the answer stood right in front of me.
When MF Global went bust over $2 billion in customer funds magically vanished. What happened next? Gold and Silver took a hit. Now PFG Best magically loses $250 million, what happened next? The Gold market took 1.3% dive.
The kicker is this…both failed firms both have money sitting in whose account? Why JP Morgan of course and who are they the clearing bank for? Why the good ol boys at the Federal Reserve. Now what does the Fed and JPM have in common? Well among many things, the abject manipulation in the Gold and Silver market. So what does this mean?
The PFG Best failure and more shell brokerage failure ( as they are all doing the dirty work of JPM) are causing all the weak hands to dump Gold, Silver and other commodities. The result: A hit to Gold that I am going to say may drop the price from my previous claims down to $1200 – $1400 range. In other words, for those sitting on the fence…BUY BUY BUY!!!! This is the time to do it.
This seems to be part of the last moves of survival that banks like JPM and Central Banks are doing on top of all the Hacks and IR Swaps and LIBOR manipulation. The full on assault on the metals market is on and it is time to buy.
You have to see the clear picture that is coming into focus. IR Swaps, LIBOR manipulation, Suspicious Commodity Firm Failures are all part of the concerted effort to keep precious metal prices low. I was right again and you all heard it here on this site first. Here it comes the best buying opportunity you will ever get.
