The TF Metals Report's Turd Ferguson today elaborates on his research about gold forward offered interest rates, confirming that negative rates signifying tightness of metal supply have become normal after 24 years of being exceedingly rare. Ferguson concludes:
"I remain convinced that the 'new normal' of negative GOFO is, in fact, symptomatic of extreme physical tightness and empty vaults in London. Knowing this and the clear correlation of GOFO with price, you should adjust your trading strategies accordingly. For those of us who are stacking only, persistently negative GOFO is just another clue that the end of the fractional-reserve bullion banking system is near. Whether or not that 'end' comes in 2014 or 2015 matters little. It is coming, regardless, and we should continue to look at these manipulated and suppressed prices as one last gift from the soulless central bankers who have plundered our national treasure and set our posterity on a course of permanent debt enslavement."
Ferguson's commentary is headlined "Another Review of GOFO and Gold Price" and it's posted at the TF Metals Report's Internet site here:
http://www.tfmetalsreport.com/blog/5784/anoth...and-gold-pri...
