The sooner gold breaks its lows the better
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Thanks Rev.
Point of interest, we were chatting with some friends over dinner last night about the Scottish situation and I brought up your name and your thoughts on this. So you are not only famous in the UK but now famous in the good old northwest portion of the US of A!
Al, I am not worthy ,,,,grovel grovel!!
OK guys and gals listen up!
Scotland may have lost the independence vote (55% no to 45% yes), with SNP leader Alex Salmond now also deciding to resign. But if the British government fails to deliver on its devo-max promises (already there are arguments between the Coalition and Labour as to how pledges are to be acted upon), then 45% could easily turn into a vocal majority.
One referendum vote for change lost, but what of another due on Nov 30th (St Andrew’s Day, ha ha) when Swiss voters go to the polls to decide on whether The Swiss National Bank repatriates Swiss owned gold back to Switzerland? For if the vote wins, 1700 tonnes of gold will be instantly demanded back.
So swallow your pride all you anti KWN detractors and visit Egon von Greyerz who says that the Swiss gold referendum could be the catalyst to end this three year correction, and kick start PMs on its next upward trajectory. For as Sen Ron Paul says the November referendum could well be the bellwether for forcing the first of our national banks to be made accountable.
Hello Rev,
Totally forgot about this. Thanks for the reminder.
Maybe the current takedown has “something to do” w. the rapatriation potential ?
Best to you and to all,
LPG
A lot of gold will be purchased, but I agree the repatriation of gold to Switzerland of gold that has been leased illegally will definitely cause problems come November for JPMorgan and storage banks in NY and London.
Yes it will CFS
Three year bear market.
So are you saying it is over?
No. I was referring to what Rev said about the gold market being in a three year correction. I call it a three year bear market. Would a 35% drop over three years in stocks, bonds, or any other commodity be just a “correction”?
On Sept 15, Avi Gilburt’s published thoughts re: Silver were the followings:
“So, what am I really saying? Well, as long as we maintain below 19.33 in silver (ideally even below 18.90) and 123 in GLD (ideally below 121), I will continue to be looking down, and expecting that we will subdivide to much lower levels on our way to the final lows in metals, potentially in the late fall to early winter time frame. In fact, I have now included a chart with a proposed path for silver to take us to those final lows, with a projected target for now of 15.80-16.35. But, do note that should silver see a strong break down below 18.20 next week, those targets may be lowered, as it means that wave 3 of III will likely be extending. ”
Today – ie a few days later only- the low on silver has moved up to 17.20 ?
Something I’m missing here ?
Best to all,
LPG
$17.20 was his comment regarding this moment in time. I believe that it represents a short term bottom.
I think Cameron is a pragmatist, perhaps not so much as Angela Merkel, but I believe he will allow a significant amount of devolution, (And never have another Scottish referendum in his time in power.)
I expect he, or rather the conservative and unionist party) will gain votes from his actions.
This may offset some of the losses towards UKIP in the elections next year. Hover, I do expect problems for the Conservatives from UKIP splitting votes.
One major cause for Tory embarrassment CFS could be this Oct 9th. MP Douglas Carswell’s defection from his Conservative seat at Clacton where he’s now the front runner for UKIP in the by-election on that date. The voters love him regardless of which party he stands for.
Hover=However. I swear I typed in correctly, if fast.
‘Right now although the Nasdaq is up, we have 47% of Nasdaq stocks that are down 20%. That equates to a BEAR market. Ref McAlvany’ s show 20 mins in.