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The 200 Week Moving Average War-And Why The Cartel Will Lose It

IMG Auteur
Published : March 03rd, 2017
1566 words - Reading time : 3 - 6 minutes
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Yesterday, my MUST LISTEN Audioblog started with a discussion of this clip of soon-to-be French President Marine LePen humiliating soon-to-be ex German Chancellor Angela Merkel and soon-to-be ex French President Francois Hollande in front of the European Parliament.  As when she wins, it will be blindingly apparent that Europeans want their sovereignty back, no matter what the cost.  And believe me, the “cost” will be high.  As in, the collapse of the Euro; mass default of hundreds of billions of unpayable debts; and likely, the worst European inflation in generations.  You know, like what India is experiencing now, per this article describing how November’s “cash ban” has not only destroyed the Indian economy, but caused its inflation rate to explode.  Not to mention, for all the propaganda and FUD (fear, uncertainty, and doubt) spread by the powers that be, surging gold demand – as occurred last month.

Today, 24 hours after the Euro came within basis points of the 14-year low it hit in late December; whilst EuroZone inflation was reported to have hit a five-year high, above the ECB’s arbitrary 2.0% target level; I’m following up with further evidence of how dire the European situation has become – and why consequently, a EuroZone break-up has never been more imminent.  For one, yesterday’s news – completely ignored by the MSM – that the EU, in response to a U.S. ruling that citizens of five EU nations (Bulgaria, Croatia, Cyprus, Poland, and Romania) must have travel visas to enter the States, voted to require all U.S. citizens traveling to EU nations to have visas, in what is being deemed the “EU-USA visa war.”  When enacted, this will have major ramifications on EU/USA travel, trade, and diplomacy, causing further anger amongst the continents’ 500-plus million denizens.

Not to mention, yesterday’s Brussels proposal that EU member States receive massive fines if they do not adhere to its immigration policy, by accepting their share of 160,000 homeless Syrian refugees.  You know the type of insane regulation that was the principal cause of the BrEXit; and the reason why LePen, in the aforementioned speech, was able to confidently claim “I am the voice of free Europeans…and sovereign nations, that turn their back to the European Union because they want their nations back.

On a day when the ultimate anti-government asset, Bitcoin, is hitting another all-time high, I offer you the best proof yet of why the EuroZone, and the insolvent banks supporting it, is on the verge of collapse – in the form of this one hour interview of Andreas Antonopoulos; who not only is the world’s pre-eminent Bitcoin ambassador, but a Greek national with a very unique perspective of what’s actually occurring in the world’s worst “first world” economy.  Listen to the entire interview if you want to learn valuable information about Bitcoin; or simply start at the 50:30 time stamp, if you want to understand why the inevitable GrExit – and simultaneous default of €500-plus billion of debt – has never been more imminent.

Next up, the monstrosity of a financial market bubble – and Precious Metal “anti-bubble” – that has been inflated in the post-Trump era, both here and in the soon-to-collapse European Union.  Here in the States, we have never seen equity valuations so high; by most metrics, above even the dotcom bubble top.  This, despite the worst economic fundamentals in generations, and the biggest disparity between actual economic data, and meaningless expectations.  I mean, the shares of Snapchat, perhaps the vilest, and most useless, of all social media companies, went public yesterday at a dotcom-like valuation, valuing this cash flow hemorrhaging social blight at three times more than Twitter, with a market capitalization nearly as large as (massively profitable) eBay itself!

This, as an insane Federal Reserve accelerates its crusade to destroy America – and Janet Yellen’s archenemy, Donald Trump; by threatening to raise rates March 15th, despite the massively negative hard data that not only caused fourth quarter GDP to be far weaker than anticipated, but the Fed itself to dramatically lower its first quarter expectations.  In fact, per this must read article, it’s nothing less than shocking that the Fed is risking the destruction of American’s already dying economy by suddenly suggesting a March rate hike is imminent – particularly in light of Trump’s vehement belief that a “too strong” dollar is “killing” American businesses.

And by “destruction,” I mean that in less than three days, the Fed’s out-of-the-blue hawkish comments have pushed the all-important 10-year Treasury yield right up to the 2.5% “economic line in the sand” I warned of two months ago, catalyzing a U.S. dollar surge that not only further damaged corporate America’s earnings prospects; and caused countless foreign currencies to plunge; but re-started the countdown to the “cataclysmic financial big bang to end all big bangs”; i.e., the massive Chinese valuation that must inevitably occur.  Which, per the offshore Yuan’s post-Fed President comments’ plunge back to 6.91/dollar, is appearing more and more imminent each day.

Frankly, if Janet Yellen, in her last “pre-blackout” speech before the FOMC’s March 15th meeting this afternoon, doesn’t “walk back” her colleagues’ (likely concerted) hawkish comments, it wouldn’t surprise me if the dollar index, in the run-up to said FOMC meeting (which happens to be scheduled for the same day as the potentially historic Dutch election), takes out the 14-year high of 103.29 from late December.  You know, when the offshore Yuan came within a hair’s breadth of breaching the key psychological level of 7.0/dollar; above which, if you think the historic Chinese capital outflows – and draconian capital controls the PBOC enacted in response – have been dramatic, get ready to have your mind blown!

Of course, that little thing known as the end of the U.S. debt ceiling “holiday” also ends on March 15th, so the cumulative impact of these soon-to-collide economically tectonic forces on the meaningless, but widely watched “dollar index,” is yet to be determined.  And by meaningless, I mean that the exchange rate between the dollar and the Euro – which for all and intents and purposes, the dollar index principally measures – has little bearing on the cumulative purchasing power of the world’s seven-billion denizens, of their respective fiat toilet papers against real items of value like gold, silver, Bitcoin; and “need versus want” items like food, energy, shelter, insurance, education, and healthcare.

Which brings me to today’s principal topic, of the exploding “200 week moving average war” between the Cartel and economic reality.  As clearly, “they” have never been more fearful of the “canary in the coal mine” that Precious Metals have, and always will be.  The reason being, that following four years of market domination – going back to that fateful day in April 2013, when an unprecedented “closed door meeting” between Obama and the top bank CEOs preceded the “alternative currencies destruction” PM attacks 24 hours later – Precious Metals are on the verge of re-taking these key technical resistance levels; in gold’s case, at $1,260/oz; and silver’s, $18.60/oz.  Which just happened to be where they were trading on Election Day eve, if that gives you an inkling of why they were so counter intuitively attacked when the “BrExit times ten” Trump victory “shockingly” occurred.

Having again bottomed in December, for the sixth straight year in the “point of no return” manipulation era, gold and silver prices had – albeit, in torturous, relentlessly capped fashion – recouped essentially all of their post-election losses; with gold briefly touching $1,264/oz on Monday; and silver, $18.55/oz.

That is, until – following blatantly egregious “12:00 PM EST cap of last resort” attacks on Monday, Tuesday, and Wednesday (sorry, I accidentally deleted Wednesday’s price chart) …

…the Cartel launched a thermonuclear salvo in said “200 week moving average war” just before 12:00 yesterday.  Which, although the left chart shows Kitco’s “smoothed” version of the day’s proceedings, the right chart depicts in real-time.  I.e., the prototypical vertical plunge caused by massive, naked shorted, market sell orders hitting the market to push prices down, that we have witnessed in countless Cartel “blitzkrieg” raids over the years.

In this case, 30,192 silver futures contracts hit the market over a 30-minute period, taking silver down $0.60/oz whilst no other market materially moved.  Gold, too, was bombed; but this raid, like so many others before, was clearly focused on the far more thinly-traded silver market – which consequently, is again trading at a huge (nearly $1.00/oz) premium in Eastern physical markets.  Putting this comically blatant raid into perspective, 30,192 contracts represents roughly $2.7 billion of paper silver, or nearly 20% of the entire world’s annual physical production.  In other words, silver that doesn’t exist, illegally shorted by criminal entities desperate to prevent said “canary in the coal mine” from chirping.

Which I assure you, she inevitably will – as not only is global demand approaching the “breaking point” where historically scarce supplies are overwhelmed, but an historic confluence of massively “PM bullish, everything else (except Bitcoin) bearish” events are racing toward us at a breakneck pace – in Star Trek parlance, at “Warp 9.9.”  In other words, the historic “200 week moving average war” must mathematically be won by the unstoppable, immutable forces of “Economic Mother Nature.”  And given how “precious” few inches the can-kicking powers that be still have, it’s difficult to conceive the forces of good not advancing dramatically over the course of 2017.

Data and Statistics for these countries : Bulgaria | Cyprus | Georgia | India | Poland | Romania | All
Gold and Silver Prices for these countries : Bulgaria | Cyprus | Georgia | India | Poland | Romania | All
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Andrew Hoffman was a buy-side and sell-side analyst in the United States (including six years as an II-ranked oilfield service analyst at Salomon Smith Barney), but since 2002 his focus has been entirely in the metals markets, principally gold and silver. He recently worked as a consultant to junior mining companies, head of Corporate Development, and VP of Investor Relations for different mining ventures, and is now the Director of Marketing for Miles Franklin, a U.S.-based bullion dealer.
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