Preemptive Strike Against Precious Metals Nears End by Jeff Nielson

goldpanner · Oct 21, 2011

Preemptive Strike Against Precious Metals Nears End
Jeff Nielson

The money-printing about to take place in Europe has already been clearly telegraphed. EU leaders meet on Sunday for their next "Final Solution" for the made-in-Wall-Street "Euro debt crisis". They have already made it clear that more "massive bail-outs" are on the way for deadbeat banks and governments alike.

Meanwhile, on this side of the Atlantic, Helicopter Ben has been engaged in especially absurd stalling. He continually tells the market there is "more the Fed can do", while avoiding once again spouting his favorite euphemism: "quantitative easing".

He is utterly transparent. The Fed was harshly criticized around the world for its last money-printing spree. Thus the U.S. could not be first to crank-up its printing press this time. Rather, the ridiculous spin which will be attached to the next "helicopter drop" by the Fed will be that either the Euro debt crisis "forced" the Fed to follow suit, or (more likely) this will be portrayed as the Fed "supporting the actions" of the EU by cranking-up its own printing press in unison.

While we all know never to say "never" in this market, it appears that the latest operation has neared its expiry date. Put another way, it does not appear feasible that the investment community could remain "witless" enough not to fathom the impact of more, massive money-printing. Furthermore, one must also assume that whatever bribery has been used to control the Big Buyers has more or less been used-up.

As always, no matter how strongly we believe that the market is about to reverse higher, investors must refrain from the use of margin in these markets. The combination of psychopathic Wall Street bankers utterly unrestrained by any regulation; the row of debt-saturated Western domino-economies, ready to topple at any moment; and the most mind-numbingly incompetent collection of "political leaders" ever assembled equates to the potential for any and every form of economic catastrophe which one could dream-up in their worst nightmare.

Having perhaps scared readers "witless" again, let me reiterate the immutable principles which guide the precious metals market. Nothing the banksters can do to these markets can alter the long-term trend. The more extreme the downward pressure on precious metals in the short-term, the higher prices will go over the longer term.

Full article:

http://www.bullionbullscanada.com/i...nears-end&catid=48:gold-commentary&Itemid=131
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