easy to make a buck in this type of market so we’re sitting and waiting
for the right setups to form mainly with the odd little trade here or there.
that will soon change as charts are setting up nicely and could break into a
trending pattern soon.
also watching the beaten down miners closely but in all reality we
won’t see them move until gold and silver get on the move which likely
means we have the summer to accumulate the good ones we’ve had our eyes
is not lost though as we have substantial weighting now in six different
REIT’s which are paying anywhere from 7% to 16% so we are getting paid
quite handsomely to wait out this choppy market.
best thing is that these hefty dividend paying REIT’s are also hitting
new highs in some cases and are just plain strong in others.
summer may be better spent reaping these dividends and hitting a little white
ball around or just relaxing and studying for when markets do turn nice again
but time will tell.
Gold rose 0.15%
this past week but remains trapped within this triangle pattern for now with
the upper end right at the key $1,600 level and the lower end at $1,560.
look set to break it in the next week or so and of course I’m hoping
for an upside breakout but I can accept it if we break lower as well.
week I posted the bullish looking weekly chart which has some major
resistance around the $1,700 level and I don’t really expect that area
to be tested until school is back in, unless of course we get some major news
which is entirely possible.
more and more markets and the like are exposed as being manipulated
it’s only a matter of time until the precious metals arena is exposed
is being allowed to rise as we know, but it’s
ascent is being slowed, especially when countries are hanging on the edge of
the truly perilous times that gold should soar but it would only signal just
how grave the situation is, so it must be moved lower.
not worried though as the trend is my friend and it’s still up for gold
and it’s a long-term investment on my part.
in the futures market is pretty solid which is telling me there is
accumulation going on while the GLD chart is showing heavier volume on the
weak days which would have to point to a failed breakout coming or further
downside. Luckily the futures market moves the price but we have to be ready
for a move either way.
rose 0.12% for the week and remains in this now very tight triangle. This
should be resolved any day now, preferably to the upside. I think it will
breakout higher as there have been a few failed attempts to break lower, even
as recently as this past Thursday.
$30 area is key on a longer-term chart as I showed
last week on the weekly chart so while we could easily see a $2 move here in
short order I don’t think we will see a major move until the $30 level
is cleared whenever that may be.
still do think we will see silver lead gold on this next major leg higher
which is likely to begin this fall.
in both the silver futures and silver ETF SLV is solid with the largest
volume coming on Thursday as a failed breakout lower was seen. This is good
as buyers stepping in strongly and they are telling me they don’t want
silver to go lower.
fell 1.69% over the past week and remains in a large triangle or wedge
pattern as well. We shouldn’t expect much until either level is taken
out on the upside or the downside.
range right now is $1,390 on the downside and about $1,475 on the upside.
in the futures and PPLT ETF is nothing special here and I doubt it will be
until we move out of this pattern.
rose 0.78% this past week and it’s hard to say much about it on this
chart here. Looking back to a 3 year weekly chart (not shown) we can see that
the $570 level is key support and must hold, otherwise we will likely see a
move down to the next major support area at $500 or so.
is not really telling me much here in the futures or PALL ETF for the time
got a series of lower highs and lower lows and $570 must hold now in order to
break this trend.
recent Libor scandal really isn’t much of a scandal
in my opinion, nor are reports of the governments having known of the
issue back in 2008. Would you really ever trust a group of 16 bankers?
you are unsure of what Libor is you can read up on it briefly here.
is set by this group daily. There is no way around the fact that these banksters/criminals would set Libor to benefit themselves. And why wouldn’t they?
going to happen to them?
is the answer.
see a few figureheads resign and a nominal slap on the wrist type of fine and
some phoney regulations to ensure this won’t happen again, but it will.
be fooled. Governments are in on the scam I assure you.
just have to accept that the powers that be control the big picture
economically and be aware of where they are taking us. In the smaller picture
you have to understand the game and work it as they are in order to profit
from the ultimate game that is the markets.
there is a worldwide revolution against these banksters
they will remain in power.
in the US or any other country will be futile as their reach touches every
corner of this world in one way or another. Every single person in every
single country will have to take a stand before there can be any meaningful
change and that is unlikely and even if it did occur, finding one voice to
unite everyone is an impossible task.
banksters know this and have slowly expanded to
where they are now one small step at a time which has masked their moves.
have used the simple tactic of asking for a lot, then being happy getting a
little. But over time this has gotten them far more than anyone could have
thought even 50 years ago.
is a solution to return global economics to the people and allow small
businesses to flourish easily and unimpeded by excessive regulation and
do have the right and power to abolish these central banks but sadly
government is run by them, not the people. If we closed down every central bank
in the world and allowed governments to print money themselves and not owe
interest on every single dollar that was created it would immediately end
this debt cycle that leads to default and bankruptcy every single time.
they know this and control most of the worlds
gold. That is but one reason I implore precious metal investors to take their
gold out of the machine/system.
Rage Against The Machine says, we’ve go to
“Take The Power Back”
sure you’ve seen this speech by the young Victoria Grant by now but
it’s worth another listen. While it’s focused on
Canada, it outlines how the world is held by the short and curly’s by the central bankers who are owned by the
same banks who set Libor and manipulate everything everywhere in the world
past weeks failure of PFG Best is the most recent
example of how simple it is to run multi-million dollar frauds for long
periods of time. This one lasted some 20 years and robbed investors of some
it was done with little more than a scanner and a photoshop
program. It’s pretty disgusting how lax regulators are if this is
allowed to happen.
missing a mortgage payment. See how long it take for
the bank to take action.
least this time the head of the company is in custody. I hear Bernie Madoff
is still rubbing elbows this summer up in the Hampton's with wall street and
is the justice?
not advocating or condoning this but it’s coming to the point where the
people need to take justice into their own hands.
saw one bank fail this week and one the week
before taking July’s total up to 2. These are all small regional banks,
never the big guys.
for gold itself and the industry that surrounds it I’ve got a few items
to bring to your attention.
now said that Iranians are in Turkey collecting gold for the Iranian
central bank. This is most likely being done as a result of under
the table transactions for oil or other natural resources.
it hits the fan, gold is the ultimate asset to own and Iran knows this as
does every other central bank in the world. Do you?
A troubled silver mine in Bolivia seems to be the next target
of Evo Morales after he just nationalized a smelter in the
we transform into a more electronic age we’re seeing more and more gold
used up and it won’t be recycled unless prices rise substantially.
320 tonnes of gold are now used up annually in the
electronics industry. It’s a far cry from silvers 7,500
tonne annual use but gold only sees some 3,800 tonnes produced and recycled
every year so it is a substantial amount.
Philippines are looking to impose an additional royalty
on mining of between 5% and 7%. Just another country trying to
change rules and regulations making my job of investing in mining companies
harder and harder.
seems every week there is another issue in another country.
a great week ahead and thank you for reading.
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