Financial Big Bang is Closer Than Ever
By Andrew Hoffman
TheDailyCoin.org
August 31, 2016
These past two weeks rival any I’ve seen in my 14½ years of minute-to-minute PM watching – during which, the Cartel has relentlessly suppressed prices amidst an unrelenting blizzard of “PM bullish, everything-else-bearish” news flow. Using cover of the two slowest trading weeks of the year, they have aggressively pushed prices away from the indisputable “breakout levels” of $1,370/oz for gold – representing the “downtrend line” created by September 2011’s “Operation PM Annihilation I,” December 2011’s “Operation PM Annihilation II,” February 2012’s “Leap Day Violation,” and April 2013” Alternative Currencies Destruction” raids; and $20.45/oz silver, representing its 50-month moving average.
Yesterday was particularly egregious; as with interest rates barely higher, and for much of the day, flat or lower, paper gold and silver were bombed; after having barely been allowed to rise Monday, when interest rates – “hawkish” Yellen and Fischer comments notwithstanding – plummeted. To that end, the benchmark 10-year yield, closed yesterday – and remains today, after an “in line” ADP jobs report – at exactly the 1.58% yield it was at the moment before Janet Yellen’s speech Friday, just 25 basis points above the lowest yield in the nation’s 240-year history. In other words, for all the propaganda of how Yellen’s speech, and Stanley Fischer’s follow-up comments, portended “imminent rate hikes” – as if rate hikes are “PM negative,” given that PM bottomed the day the Fed raised rates last year – it was, in actuality, a non-event.
Not to mention, when considering the massively hyperinflationary speeches at Jackson Hole’s Saturday sessions; and oh yeah, the unending torrent of “PM bullish, everything-else-bearish” news flow since. In the big picture, this entire, late August “summer doldrums” period – when the entire world is trying to “rest,” amidst an horrific year of political, economic, and social instability that promises to go parabolic this Fall – was about the powers that be using a low volume environment to “paint” perceptions, ahead of what promise to be a series of violently volatile, potentially historic, events.
Before I get to today’s very important topic, I thought I’d highlight a handful of news items and articles of the past 24 hours – which cumulatively, help one to realize just how dire the global financial situation has become; and just how reckless and destructive the powers that be’s’ responses will be – starting with this Jackson Hole parody from Tim Price; possibly, the most humorous anti-Central banking piece I’ve ever read.
The Rest…HERE