MADNESS
"The stock market is filled with individuals who know the price of everything, but the value of nothing"
Phillip Fisher
GO GATA!!!
The Gold Cartel has done some job bumming most of our camp out. 
It surely has me disgusted, as it does the staunchest of bulls I know (two phone calls came my way on that score today – never happened before). There is the old adage that the market must take out the hardcore longs before it can make its REALLY big move. While these guys won’t run (super bulls like me), just to hear them talk like I feel tells me scores of veteran gold/silver share investors have, and are, exiting … which is why the junior/exploration sector is moribund at best.
It is most annoying of late because there is every reason for the price of gold to be soaring, yet since there is a Gold Cartel, they won’t allow it to rise because it would put greater emphasis on the glaring problems facing the markets. That leads to the question, “Why fight City Hall if they are not going to allow the price to go up?”
That’s bad, but what is occurring in the share sector is tragic. For example, every time the HUI rises to the 360 level or above, The Gold Cartel organizes a raid on gold and down the shares come. I
It is tiring us out. 
Look at this:
HUI
http://bigcharts.marketwatch.com/advchart/frames/
frames.asp?symb=HUI&sid=16794&time=8
Every time we think the HUI is ready to roar to where it should, it flops, thanks to the bums. 
Meanwhile, every time the DOW ought to tank, the PPT props it back up and the insider Planet Wall Street money jumps on board, quietly and privately lauding the PPT (I know this for a fact).
What we are witnessing and dealing with is both blatant and extraordinary in its comprehensive scope.
Now that the moan and groan is over, it is most important to get to the doughnut instead of focusing on the hole.
What we truly have here is the historic trade of a lifetime, mostly as a RESULT of what The Gold Cartel has done for so long. What is building in the US financial market scene is going to be TOO MUCH for The Gold Cartel to handle. That day is coming and it should not be too far off.
Silver The Mule was relatively firm all day today vis-à-vis gold.
The gold open interest fell 67 contracts to 351,092, while the silver open interest rose to 121,275. So the silver open interest is right off its recent highs, while the gold open interest makes a new recent low. I don’t get it. 
Copper closed up 7 cents to $3.65 per pound in London. The copper bears are continually confounded. Adrian has a take on this and gold:
Bill 
http://www.bloomberg.com/apps/news?pid=20601012&
;sid=a39EnSf4U5qo&refer=commodities
The following comment caught my eye in this article
QUOTE
``There is a chronic shortage of the mined' raw material, said Jim Lennon, senior commodities strategist at Macquarie Bank Ltd. in London. The price is ``going to revisit the all- time highs over the next few months.'
END
This is the case with most commodities. The relative price performance is modified by how much the demand-supply deficit is filled from stockpiles.
There are only 2 days of global supply in stockpiles of copper. 
The Central Banks have been dishoarding at record rates to slow the ascent of the gold price by partially filling the gap between mine supply and demand. This stockpile of gold is being exhausted to a level where the only remaining holders are not those interested in continuing the folly.
Cheers
Adrian
