What has been missing during this 3+ year decline in PMs has been what we have pointed to on several occasions, a form of ending action that sends a message that a change in trend is in progress. Last Thursday and Friday’s sharply higher volume and wide ranges lower is the kind of activity that leads to the end of a trend. There is not enough to say it has happened, to be sure, but the end game is starting to step up and be closer to a resolve of ending of the down trend. [Let me explain further.]
The above introductory comments are edited excerpts from an article* by Michael Noonan (edgetraderplus.com) entitled Gold And Silver – Elite Supernova Death Dance In PMs? + Monthly Charts.
Noonan goes on to say in further edited excerpts:
Despite all the overt bullish demand for physical metals, gold and silver have been making new recent lows, reaching levels few imagined, even just several months ago. What has been missing [in the many articles I have read] is an explanation as to “why” the PMs continue to decline. We, however, have been postulating that the Rothschild elites have been responsible for the perpetual downward manipulation in defiance of known fundamentals.
History proves all fiat money systems fail, and the United States, with its toxic fiat Federal Reserve Notes in the multi-trillions, are destined to join the same fate of failure. Is it any different this time? No, but degree to which circumstances have been distorted is far beyond anything else, historically. As a consequence, expectations have not been able to adjust to the greatly exaggerated conditions.
What we are witnessing is the likely supernova (a supernova is when a very big star – brilliant at its peak just prior to running out of energy – explodes) death dance of the existing Rothschild dynasty, flaring up in its culminating demise after a few hundred years of unparalleled financial power. The “silver stake” in the heart of that insidious group is silver and gold – the kryptonite against the Rothschild central bank fiat.
This is not to imply that the end will be immediate. A more likely scenario is that it may yet take much more time. A few indicators are as follows:
1. The switch of the head of Deutsche Bank, is one example. Its current CFO is to be replaced by an ex-Goldman Sachs executive, one of the primary sources for elite-control of how business is conducted. This indicates the status quo is still calling the shots. Deutsche Skatbank is now going to charge its large depositors a .25% fee for keeping their cash in the bank, a negative interest rate. Only
the fiat central bankers would keep draining people of their own money. “What’s yours is ours,” is their motto. As long as it is business as usual, PM are going nowhere.
2. The Swiss referendum at the end of November to see if the central bank will be required to increase its gold holdings to 20% from the current 7.8%. This event will be a huge tell. Obviously, Swiss central bankers are solidly opposed to this restriction, preventing them from irresponsibly issuing fiat at will.
- If passed, the Swiss would have to purchase around 1,700 tonnes of gold, and that is about 70% of total annual gold production. It would create havoc for the gold-selling manipulators.
- If the measure fails, it will once again demonstrate that people do not matter, only bankers and their corrupt debt-enslavement of the masses. A win for the bankers is a loss for everyone else, and it will tell you that the timetable for a recovery in gold and silver will still be on hold and central bankers are still in control. It will be a set-back for anyone’s timetable.
3. We cannot point to anything in the U.S. because the public is fed a constant flow of lies from the elite back-pocket-owned media. Gold is not considered to be any kind of a store of value, and its holding by the public has been erased from their pliant minds. The only buyers and holders of precious metals are those who are more independently minded and more informed, but even their mental mettle is being tested by this constant suppression of prices.
Are the elites winning? Absolutely. Can they persist over time? Absolutely, but the probability of keeping price suppressed keeps diminishing with the passage of time. When will that point in time come? That is another absolute, which is: not a day sooner than when it happens, and not even the Rothschilds could provide the answer if their sordid lives depended on it. The best anyone can do is to accept what is – the unknown or the unknowable.
We were as surprised as anyone that $26 silver did not hold, and also when it took over a year as price moved in a trading range, and even more surprised to see a $16 handle, even $15, briefly, last week. However, it is what it is, and it is a clear message that the elites are not going to give up easily, if at all, even if self-destruction is required. All anyone can do is be prepared for what is certain to come, even though its certainty as an event is anyone’s guess.
Are PM holders dissatisfied, disillusioned? Many are, maybe most, but their feelings cannot and will not change what is. If anyone bought and held gold/silver with the expectation of selling it for a higher price over the past year or two, then that was a speculation, less leveraged than buying futures, but speculation nonetheless. The primary reason for buying and holding gold/silver, it seems, is as a store of value for when the fiat system collapses, as it will, and under this consideration, time was less of a factor, even though expectations have been somewhat dashed.
With little or no intent to sell one’s holdings, one has less value than in the past few years. It is more akin to the housing bubble. Many who own homes have seen their property values decline. Does that mean home owners will sell simply because the price has dropped? No. The same holds true for stackers of silver and gold. You do not sell simply because price is lower. The driving down of price is intended to take the wind out of the sails of PM holders. That alone should be a sufficient message that owning both gold and silver is the right tactic.
The monthly charts (see here) shows no promise of change in the direction where price has been headed. It may not be what many want to hear, but it is what the market is indicating. A point to be made for addressing the disappointment of how price has declined without respite for the past few years. It stems, in large [part,] from believing the bullish news related to gold and silver and hanging one’s hopes on such events, even though there was no indication from the charts that a trend change was in the making. This is why we never stop saying that the charts are the best source for market indications.
Last Thursday and Friday are signs of panic selling, based on the sharp increase in volume at the lows. That the sharp increase occurred at the lows tells us strong hands are in the market taking whatever sellers have to offer. It is too soon to assess if last week is a sign of bottoming activity, but the level of volume is an important tell.
(As an aside, the gold/silver ratio is just over 72:1, and this favors buying silver over gold on the premise that the ratio will come in at some point in the future. It says that at some point, silver will out perform gold.)
We view the sharp decline and equally sharp volume increase as a positive development. Why? It tells us that the end of the trend is nearing more than the market has indicated for the past few years…
Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
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