I did not expect it! Actually, it was not a crash but more like a slam by the big commercial banks, led by JPMorgan Chase & Co.
This “slam” damaged the precious metals market — not permanently, but definitely for a few months. This scares a lot of gold and silver longtime holders, and I suppose that many gave up.
My strong belief is that this is an act of desperation by the government in cahoots with the big banks. They think they can shine less light on their rotten paper money if they can suppress the price of gold and silver. This, they think, will buy them a little more time to steal more of America.
But remember the United States and the world are awash in fiat dollars. And printing money is nothing more or less than constant devaluation and depreciation of those paper dollars of which we are so possessive. The process is so insidious that we are numb to it. Did we ever think that we could be in all-out financial war with the U.S. government and not be totally aware of it?
Folks, “our own government” is impoverishing us right now. I don’t see anybody upset. Do you?
We have this last opportunity to cash in on these suppressed prices of gold and silver. So load up if you can find some to buy. I hear there are delays in delivery.
During the last gold bull market, prices crashed in 1974 and 1975 before they took off again to all-time highs. And now we see the big banks, led by JPMorgan Chase & Co., going from record shorts to record long. This means they certainly expect this temporary suppression to give way to the most explosive advances imaginable.
So the base or platform is building, and we need to get ready for this last blast after a 22-month correction. Hopefully, by the time you read this, you will be happily thinking about taking some profits off the table, and you will have gone on a spending spree. I feel sorry for newcomers to the gold and silver market who are worried sick because they think they will lose their money.
What do I expect? A lulu crash on Wall Street. The pattern now of the Wall Street profile looks like the “jaws of death,” according to Robert McHugh. At the same time, or thereabouts, I expect the huge blastoff in precious metals as well as in mining stocks, including the juniors.
Your stocks, gold and silver should be fully paid for with no margin. And above all, they should be in your own hands. I hope that you have taken delivery of your actual stock certificates or at least have your stocks in the Direct Registration System.
