QUESTION: … Will the day come that you will admit that the precious metals are currently suppressed in a massive way to the downside, especially the relatively small market of silver?
ANSWER: Sorry – that day will never arrive. It is pure BS used to sell the metals. Look at it this way. WHY buy something that can never rise if these stories are true? It makes no sense whatsoever. I remain bullish long-term BECAUSE there is no such suppression. If there was, it cannot be a free market so write it off.
The decline in the metals is in line with the global economy. Come on – look at oil !!!. The metals will rise. They are NOT perpetually suppressed. The time is just not right. What would the banks, who care only about the next quarter’s trading profit, keep the metals suppressed without profits to pay regular bonuses? EVERY manipulation they have EVER done with the metals is to make fake rallies because they KNOW the gold promoters will talk everyone into buying. To many – reason flies out the window. This has become a religion to perpetually hold rather than trade. The manipulators get to sell those rallies and make a fortune.
I knew about the Hunt brothers buying in the early 1970s. Suddenly, a few months before the high, everyone heard about the Hunts. Why? The manipulators put that info out to get the public to buy the high and they made a fortune. They trapped the Hunts who then coud not sell anything without the world watching. They then rigged the game at the exchange to raise margins to go long and reduce them to go short. The government NEVER prosecuted the exchange or the manipulators for that rigged game. That is when they took their fortunes and invaded the takeover of Wall Street creating the Bank Proprietary trading game that has blown up the world.
There is NO money for them to perpetually suppress the metals. If there is no profit, they are not there. Sorry. A manipulation stands out because it is abnormal. The metals are in perfect sync with the global sectors of markets. Even the Platinum manipulation bribing Russian officials to recall all platinum sent prices up. They need people to buy in order to sell the highs. You make 10x more in a short-sale at the high is less time than a buy and hold for decades be it stocks or metals. That is HOW they make a fortune. Not by trickle down bear markets. They know the gold believers will hold until they lose everything. They want the big bang for the buck and that comes with creating fake rallies.
I was named hedge fund manager of the year because I made more than 60% in less than 4 weeks selling the highs for the Long-Term Capital Management debacle in currencies and shares. You make more money selling the high is a very rapid short time frame because there is nothing like a panic.
I have taught for years HOW TO TRADE A PANIC. I could care less what the instrument might be. There is nothing like a panic to make heaps of money in a brief time period and then move on to the next.
This was the first silver manipulation in 1993. The CFTC demanded to know the name of the client and PhiBro refused to tell them. So they were ordered to just exit the trade. This is WHY AIG and the trading that blew up the world took place in LONDON. They moved to London after that incident.
Here was the 1997 silver manipulation. The gold promoters hate my guts because they want to get everyone fired up stating that EVERY rally is REAL while the declines are SUPPRESSION and MANIPULATION. It is exactly opposite. I would not trust anyone who preaches this nonsense for it is precisely how the manipulators sell the highs.
I came out and warned back then in 1997 that “they were back” ready to take silver to $7 by January and then would tank-it. I even gave the target objective. It was met. Buffet came out and said he bought $1 billion in silver and it was a long-term trade not manipulation. But he sold out the metal and silver made a new low.
The schmucks as always ran in to buy as always at the top and the manipulators sell it to them. How many times does this have to happen before someone connects the dots?