@MsMorrisine said:
brothers trying to corner the market would cause a frenzy
Today there are hundreds of entities capable of cornering the silver market. They changed the rules on the Hunts but they can't change the rule that industry consumes more silver than it can produce and this equation is growing rapidly. You can't change the rules on arithmetic.
@tincup said:
There certainly seems to be something in motion... the major entities that are doing the buying likely have fore knowledge of a change coming up and are preparing for it. Whether a federal re-pricing of gold, devaluation of dollar, replacement of dollar, inflation, etc., etc., I am not in the know... since I missed the meeting where the strategy was discussed!
But... it would be prudent to pay attention to which direction the wind is blowing. Place your bets as you see fit.
Almost everything done by man for 4000 years has been largely wholly unplanned which consists mostly of watching what the masses do and trying to stay in front of them. Government and industry are institutionalized inertia. Something has been happening at a grass roots level for many many months and it's going to erupt.
During the next long-term bear market, I expect the gold/DJIA ratio to fall to below one, from a combination of higher gold prices and collapsing share prices.
Yes, I know (virtually) no one expects it. (Virtually) no one would have expected the ratio to increase as it did from 1980 either, peaking at 43 in 1999. The "fundamentals" were overwhelmingly considered negative or unfavorable at the time but are actually far worse now. This will only become evident later, as it always does. "Fundamentals" never appear to be bad at an all-time high.
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One good "fundamental" that may outweigh all the bad ones is the accelerating rate of technological progress. The cost of computing has long been declining rapidly, and now (with substantial help from artificial intelligence) other prices are starting to stabilize. Batteries are becoming more efficient and less costly, as are solar and other energy generators. Ditto for medical technology. Robots are driving down labor costs. 3D printers are designing and helping to build houses at a fraction of the previous cost. And so on. The rate of progress for the foreseeable future might be enough to keep inflation in check, and even create some deflation in consumer prices. At the moment,I think the odds of a "soft landing" are higher than the odds of an economic crash.
@derryb said:
We're not talking about a "one off." With JPM it has been repetitive, same offense, same result, no convictions. A >money machine for DOJ and just a minor expense (with huge profits) for JPM. They control spot prices more than >any other bullion bank.
These corporate shake-downs need to be terminated. The money is being hijacked by career beauracrats like Andrew Weissman, a sleazy guy who threw 40,000 Arthur Andersen employees out of work in an illegal action.
Most of these actions are technical violations that are often impossible to police. There is no material movement of prices, it's impossible even for JPM.
Comments
Dec futures are just slightly above current spot, about $0.20 as I type this. Taking a breather?
Today there are hundreds of entities capable of cornering the silver market. They changed the rules on the Hunts but they can't change the rule that industry consumes more silver than it can produce and this equation is growing rapidly. You can't change the rules on arithmetic.
Almost everything done by man for 4000 years has been largely wholly unplanned which consists mostly of watching what the masses do and trying to stay in front of them. Government and industry are institutionalized inertia. Something has been happening at a grass roots level for many many months and it's going to erupt.
>
>
One good "fundamental" that may outweigh all the bad ones is the accelerating rate of technological progress. The cost of computing has long been declining rapidly, and now (with substantial help from artificial intelligence) other prices are starting to stabilize. Batteries are becoming more efficient and less costly, as are solar and other energy generators. Ditto for medical technology. Robots are driving down labor costs. 3D printers are designing and helping to build houses at a fraction of the previous cost. And so on. The rate of progress for the foreseeable future might be enough to keep inflation in check, and even create some deflation in consumer prices. At the moment,I think the odds of a "soft landing" are higher than the odds of an economic crash.
These corporate shake-downs need to be terminated. The money is being hijacked by career beauracrats like Andrew Weissman, a sleazy guy who threw 40,000 Arthur Andersen employees out of work in an illegal action.
Most of these actions are technical violations that are often impossible to police. There is no material movement of prices, it's impossible even for JPM.