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Gold Doomed or Resting? Gold vs. Major Currencies; Goldman Sachs and Morgan Stanley Reiterate Sell Signal

April 16, 2014

I posted some charts around a week ago that presented gold as priced in other currencies so that section of Mish’s post was not so interesting to me. However I did like his take on Goldman Sachs recent comment that they are standing by their $1,050 price target for gold. As Mish states “Goldman has a history of not only being wrong, but betting against its own recommendations”.

Click here for the post.

Discussion
9 Comments
    Apr 16, 2014 16:52 PM

    Goldman is probably lying. Of course the boyz can control and take gold down to 1050 in a heartbeat if they wanted to (with the manipulated paper markets), but that would defeat their main purpose of keeping the gold price depressed for the long-term because at 1050 few new gold mines would be opened in the future, and many current mines would be put on standby as they can’t make a profit at 1050 gold. My guess is they will hold gold prices down, but not so low as to lower mine production in the future which would thereby defeat their evil gold depression schemes. My best guess is the boyz will want to hold gold prices around the average current total costs of production which is probably around 1300 nowadays.

    All the technical charts in the world are near useless when it comes to manipulated markets like gold as the criminal cartels have complete control over gold prices via the make believe paper gold markets. This will remain the case until physical supply and demand overwhelm the manipulators at some unknown point in time.

      Apr 16, 2014 16:23 PM

      Hi John,

      I have discussed the issue of manipulation and technicals with Rick, Gary and Doc and they disagree. Considering the overall accuracy of these three, I would have to agree with them.

      I do agree with you in that I am not sure how accuracy in a market that is not free can tell the tale. I will say though that they seem to have done just that.

        Apr 17, 2014 17:03 AM

        Al,

        If I offered 800 trillion ounces of paper gold on the CRIMEX today for $500 an ounce, most people would say that it’s still not manipulation, but common sense says that it is as offering huge volumes of nonexistent gold at dirt cheap prices and all at once cannot be done to make an honest trading profit. A seller like that has only one goal and that’s to artificially depress the price of gold.

        So I must respectfully disagree with you and most others on manipulation of gold and silver prices. GATA has been proven correct. Perhaps you should bring some GATA people on your shows more often to allow them to present the manipulation evidence.

          Apr 17, 2014 17:54 PM

          Evening John,

          I know the guys at GATA really well and I do have a lot of respect for them.

          Shorting gold to bring it down to a level where you can profitably cover your shorts is of course manipulation. I have never said that it wasn’t.

      Apr 17, 2014 17:39 AM

      Three person reasoning, like: 1) Father, Son, Holy Ghost; 2) Moe, Larry, Currly of 3 Stooges fame; 3) Obama, Biden, Kerry of another 3 Stooges comedy making its debut; Goldman Sachs, Morgan Stanley, Lehman guess who was the fall guy ? Everything these days seem to be in three`s. Then there was http://www.zerohedge.com/news/2014-04-06/day-btfd-failed the plunge boyz are there each and every day & esp. night(like rats in the corn crib) doing what they do …. and the 3 ring circus goes on & on. Oh have you seen this http://www.youtube.com/watch?v=uDZOoC4EyCE&feature=youtu.be&a published April 13, 2014 Fabian Calvo says, “ Real investors are scared to death of the Imploding U.S. Dollar ….. Not everybody is a gold investor, real estate is a tangible hard asset that can be rented out. I think home prices could go up until we have another full blown collapse. I think the collapse of the housing market will be coupled with the stock market collapse, the bond market collapse and the dollar collapse. Everything will blow at once.“ <<< everything are in three`s the Bundy ranch is the Chinese going for ASSETS, hard assets with their near worthless U.S. dollars in toll. BLM, public lands are now as always are our only real assets we have left to offer as collateral. BS is only what`s left. ….

    Apr 16, 2014 16:02 PM

    John………Goldman is always two steps ahead in their planning……..anything they say is for their benefit, and nothing is going to change……
    Like JPM……they had several months,,,with out a loss….not even a day in lost trading
    JPM……..HAD 1300 DAYS in a row……..and Goldman had about the same kind of luck.
    Anyone listening to their bs……is going to be UNLUCKY……….

      Apr 16, 2014 16:49 PM

      Agreed of course. Goldman Sucks and JPM are two major players in the Rothschilds banksters crime syndicate. They and the rest of the big bankster owners of the federal reserve have near complete control over all the markets, regulatory agencies, and certainly over the political whores in the District of Criminals, and the controlled media. No wonder they never have a losing day trading as they rig all the markets!!!!!!!
      Too bad we can’t put them on trial and then jail them as the Icelanders did to their criminal banksters.

    Apr 16, 2014 16:45 PM

    GS and JPM are as honest as Lyndon Johnson was.

      Apr 17, 2014 17:26 AM

      Okay