No one outside the GATA camp will deal with the real reason why gold is getting hit hard today, just as no one on Planet Wall Street will level with the American investing public about the "remarkable stock market action." As the reality of just how bad a fix we are in re growing US market problems in the US sets in, the more the CNBC pundit crowd comments on how well the market acts … that the bad news has been factored in to the market, thus it is immune to almost anything thrown at it (Pravda again). It is hard for me to believe what I am hearing this morning. What contrived nonsense!
Gold is now down $20 with the euro up over .80 and the US financial market system disintegrating. So what does CNBC do, they bring to their viewers’ attention that gold is deviating from following a weak dollar due to MARGIN CALLS. Some veteran ole fart, Gero the Jerk, sent them that one. I swear reading a Comic book would give me more insight to the world than what CNBC parades as analysis these days.
As we muddle through this garbage, it is so important to keep in mind the real deal here ... and what is very critical to most of us. When we started, gold traded between $250 and $300 for a couple of years. Gold was just staring at $1,000. Year after year gold goes up and up. This year is no different than the last 7 years. Most of the commentary re gold on CNBC and Planet Wall Street is less than worthless. Gold is going to $3,000 to $5,000 per ounce, resulting in one of the most legitimate market manias of all time.