Black Rock [Largest Paper Issuer] Suspends Paper Gold/Silver aka; ETF ~ Exchange Traded Fund.
Black Rock has a problem on its hands. Trapped between a bright, shiny “pet rock” and a hard place, Black Rock announced the suspension of the issuance of new IAU Gold Trust shares. Time will tell how long the suspension remains in effect. Suffice it to say, Black Rock has egg on its face – as does anyone that continue to make specious arguments about the precious metals market not being tight.
- Last week [Feb. 29-March 4], we warned of the high probability that the cartel would attack this week, and that the cartel would most likely act with the committee men of traders data report cut-off in mind.
- But other than on Wednesday, they were not able to get much traction to the downside.
- This coming week [March 7-11, 2016], expect another cartel effort.
- On Monday, Fed Vice Chairman Stanley Fischer is scheduled to deliver an address titled “Reflections on Macroeconomics Then and Now” at the National Association for Business Economics Economic Policy, and Fed Board Governor Lael Brainard will be opining and likely issuing “MOPE signals” at the Institute of International Bankers Annual Washington Conference, held in Washington, D.C.
- Thus, we have a perfect set-up for a capping effort starting as early as Sunday evening.
- But as Doc and I discuss, near-term attacks will not likely have meaningful, lasting impact.
- Scaring “weak hand” investors and traders is a good thing to [Cartel] when it comes to the intermediate- and long-term health of this precious metals bull market.
Governments And Central Banks Are Losing Control
“To me the real bull market in gold began in 1913 with the creation of the Federal Reserve.”
~ James Turk
By law the U.S. Mint is supposed to produce enough silver eagles to meet demand. Originally the law stated that the silver used in U.S. minted coins had come from U.S. mines. The U.S. produces roughly 40 million ounces of silver per year. About five years ago the demand for silver eagles began to outstrip the amount of silver sourced from U.S. mines that could be made available for silver eagle production. The law was amended to enable the mint to use silver imported from Mexico.
From time to time since the summer of 2008, the U.S. mint has had to halt its silver eagle sales because of a shortage of silver. This occurred once again in the middle of 2015 and the production halt lasted about 3-4 weeks. Since that time, the mint has limited the amount of silver eagles to one million coins per week. In 2015 the mint sold 47 million silver eagles, an amount which was stunted by the production halt. It is likely that the mint would be able to sell in excess of 60 million silver eagles in 2016 in the absence of production limits.
Make no mistake, curtailing production like this is nothing more than a form of price control. If the demand for silver eagles outstrips the supply, then the price should rise. “Price” is the ultimate mechanism by which supply and demand is equalized. That is a law of economics. If the demand for silver eagles is greater than supply because the mint can’t secure enough silver to meet demand for its product, then let the price of silver rise to the point at which supply and demand equalize. That’s how free markets are supposed to function.
Outright Panic! – Bill Holter
We just got done hearing from none other than Mitt Romney regarding Donald Trump campaigning for The Presidency. I am not really sure where to start with this topic as I do not believe there is any precedence.
Starting with my conclusion the “establishment” is in OUTRIGHT PANIC! mode, let’s work backwards. What follows is my personal opinion, like it, don’t like it, read it or do not, I am still to this point allowed to actually have an opinion and can still voice it …so I will!
It is obvious to almost anyone with half a functioning brain there is “something” (MANY things!) wrong and going in the wrong direction in the U.S.. Whether it be the economy, rule of law, governance, morality or what have you, our country is headed in the wrong direction. Donald Trump was looked at as a “joke candidate” by both Republican and Democrat establishments, now he is viewed as a threat. He has and is saying many things “the people” are thinking.
About the only thing he hasn’t said is “I am mad as hell and I’m not going to take it anymore!”. Generally speaking, the mood in the country is that of ANGER! Voters took their anger out on Congress in the last election …but nothing changed and the slide towards the infernal regions has continued unabated.
What Mitt Romney did today in my opinion is despicable (when asking Jim what he thought, he said “Romney made a complete, absolute and utter ass out of himself, I have never in all my years seen anything even close to this in politics”). He failed to win an election for president in 2012 on the coat tails of an absolute landslide Congressional sweep for the Republicans. Call what he is doing now a “poor loser” or anything else you want, I call it desperation …but not only on his part!
Until yesterday, [zionist] Rupert Murdoch, the Koch brothers and other Republican interests had indicated they would cobble together $75 million to make sure Mr. Trump did not win, they have now announced they will not do this. You can however rest assured, Mitt Romney would not have come forward with his Trump attack without their permission or wishes.
Let’s be perfectly clear, the groundswell of angry Americans is unlike anything any of us has seen in our lifetime. In essence, Mitt Romney just spoke dozens of sound bites that Hillary Clinton will use if campaigning head to head with Trump. Please understand this, there are NOT two parties as they are both the same and serve the very same masters.
We have “Republicans and Democrats” so it appears (to) we peasants have a choice in this great thing called democracy. Without a doubt we have only one choice and that is to vote for “their candidate”. If Mitt Romney’s speech today did not open your eyes to this reality, I don’t know what will!
You see, Donald Trump is an absolute threat to the status quo. The “status quo” being a country that is being milked and a treasury being bilked as hard as possible. Any “outsider” who comes in and interrupts this process is just plain bad for “profits”! I have privately said for at least 4-5 months that there is zero chance Mr. Trump will become president. It is my opinion if he gets close, he will be assassinated and the blame will go on some guy with “three names”. I hope I am wrong on this but I highly doubt it.
Our country is on the verge of collapse in so many different areas. If you look at gold as a barometer, it is now speaking to you. After a two month rise it should have corrected but has not. If you look at the COT numbers, gold should already have been slaughtered by $100 or more, it hasn’t. I believe gold is rising for one (or all) of a half dozen or more reasons. War, derivatives, debasement, China’s bid to value gold fairly via their own exchange, a “truth bomb” being dropped or whatever.
Shanghai Shock April 2016: Yuan Based Gold Standard.
As you know by my past writings, I fully expect some sort of truth bomb to be dropped that pulls the rug out from under the dollar and thus the financial system in the West.
The “truth” can be any one or all topics:
- Does the West have any gold of substance left?
- False flags or real terrorism?
- Is the West bankrupt financially?
- Is “it” real or is it fraud?
- No autopsy?
- Birth certificate?
- 911?
- I would even say since there are paper trails to almost all finance, do we have a Congress bought and paid for?
- Which brokers were involved?
- Audit the Fed?
- The Treasury?
The bottom line is this, the whole thing is a PONZI scheme and people are beginning to sense this, what if a “truth bomb” proved this either directly …or indirectly by making it fall?
To finish, Donald Trump poses a huge risk to the “establishment” and as of yesterday the only outsider left in the field. I will not be surprised if Mitt Romney’s outburst of panic actually gathers more support for Mr. Trump even from Democrats. Please do not get me wrong, I am not doing a “yay rah rah Donald” here but he is the only one pointing to the problems the establishment has created. Now, the establishment sees him to be a very credible problem for THEM!
The Irish bookies paid out on bets yesterday to those who bet on Trump as the Republican candidate. I would not have done this because desperate people do desperate things and the “establishment” has now shown their hand of pure desperation!
Standing watch,
Bill Holter
Holter-Sinclair collaboration
Comments welcome, bholter@hotmail.com
The Gold & Silver Manipulators Are At The End Of Their Rope
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