Bank of America: "Paper Gold No Longer As Important" - Finds Physical Demand Now Key To Gold Prices
Azurescens
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Bank of America "Paper Gold No Longer As Important" - Finds Physical Demand Now Key To Gold Prices
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Buy the dip, idiots
https://www.businessinsider.com.au/us-government-debt-double-economy-2050-cbo-budget-spending-outlook-2020-9
https://www.cnbc.com/2020/09/21/government-debt-rose-at-a-59percent-pace-in-q2-amid-effort-to-halt-virus.html
https://nypost.com/2020/09/21/almost-90-percent-of-nyc-bars-and-restaurants-couldnt-pay-august-rent
https://www.cnbc.com/2020/09/20/coronavirus-recession-ends-for-rich-crisis-persists-for-others.html
https://reason.com/2020/09/21/after-the-stimulus-spending-binge-brace-for-a-big-crash/
https://www.forbes.com/sites/sergeiklebnikov/2020/09/18/stocks-will-take-a-hit-from-second-wave-of-coronavirus-wall-street-firm-warns-clients
https://www.usatoday.com/story/money/2020/09/20/coronavirus-checks-u-s-may-fall-back-into-slump-without-stimulus-checks-other-aid/5830514002/
https://www.latimes.com/business/story/2020-09-19/hotels-out-of-business-covid-pandemic
The game of musical chairs with physical representing only about 1/100th of the amount represented by leveraged contracts may be ending if BoA says so.
Then again, BoA gets unlimited free money from the Fed so why on earth would anyone give what they say any credence?
I knew it would happen.
The PM trading arm of large banks (bullion banks) such as BoA control the futures paper price and make massive profits doing so. While BoA is correct that recent PM price run-ups are the result of physical demand, the current "correction" is the result of paper trading. It has always been this way. Fundamentals drive physical prices up, futures paper trading drives them down. This is not a new money making gig for them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@derryb Oh I didnt know they were complicit monsters too. I thought most of the manipulation was done through banks that don't take people like me as customers, and the shadow contracts on Comex are the tip of the iceberg.
Idk, but I'd love to start seeing banks fight it out.
We arent powerful enough to stop them directly, but we also can't stop them from eating each other and then eating themselves.
Keep buying and keep encouraging others and if physical is only 1/100th then let's make it 1/50th and 1/10th and crush them like bugs.
Everyone in this forum is a champion, a planner, a realist or they wouldn't be here. Encourage others. Help others get in on silver even if it costs a buck or two, take the time to explain why our dollar is so much more worthless today.
This is how revolutions are won. Make no mistake, these people think we should be beaten with our food and would love to see all of us have our gold taken away.