As expected, the bullion banks launched a massive take down on gold and silver, pushing gold down by 3% and silver 5%. Most of the bullion banks have been losing money when they shorted gold and silver heavily in support of REMAIN but BREXIT happened and gold shot up US$60 per oz. So yesterday's take down has helped these banks to recover their losses.
The take down has coincided with the options expiry last week and the Chinese Golden Week this week. I believe it has always been planned from the start.
Also what was missed by the mainstream media was the fact that the EU zone has a shortage of US$. This could have caused the bidding up of the US$ which the algos recognised and exacerbated the selling further.
Interestingly, according to KWN, almost US$13B or 1,000 tonnes of gold have been dumped at the COMEX. But it appeared that the PBOC was the one mopping up the sale.
According the silverdoctors.com, this gold take down has an uncanny resemblance to the gold take down in 2008 just before the global financial crisis. Will history repeat itself?
Is Deutsche Bank's demise imminent? The CDS for DB's 1 year and 5 year bonds has just reached >250 and >200 basis points respectively. That's form a low of less than 50 basis points in the years of 2013 - 2015. Almost a 500% increase!
DB's collapse will eat into the entire global financial system. And the worst thing is that it is sitting on top of a pool of financial derivatives that is more than 15x Germany's GDP.
Elsewhere, tension continues to increase between US and Russia. Today, a US general warns that US and Russia could go to war if the US is adamant in bombing the Assad's regime. Russia meanwhile has also send a strong warning to the US.
Presently, Russia is conducting a civil defense exercise involving 40 million of her citizens in major cities in the event of a nuclear or biological war. Now why would Russia do that?
Global uncertainties have never been greater and it is prudent that you hedge yourself against any eventful outcome by acquiring precious metals and miners stocks. The recent take down in gold and silver presents the ideal opportunity.
The take down has coincided with the options expiry last week and the Chinese Golden Week this week. I believe it has always been planned from the start.
Also what was missed by the mainstream media was the fact that the EU zone has a shortage of US$. This could have caused the bidding up of the US$ which the algos recognised and exacerbated the selling further.
Interestingly, according to KWN, almost US$13B or 1,000 tonnes of gold have been dumped at the COMEX. But it appeared that the PBOC was the one mopping up the sale.
According the silverdoctors.com, this gold take down has an uncanny resemblance to the gold take down in 2008 just before the global financial crisis. Will history repeat itself?
Is Deutsche Bank's demise imminent? The CDS for DB's 1 year and 5 year bonds has just reached >250 and >200 basis points respectively. That's form a low of less than 50 basis points in the years of 2013 - 2015. Almost a 500% increase!
DB's collapse will eat into the entire global financial system. And the worst thing is that it is sitting on top of a pool of financial derivatives that is more than 15x Germany's GDP.
Elsewhere, tension continues to increase between US and Russia. Today, a US general warns that US and Russia could go to war if the US is adamant in bombing the Assad's regime. Russia meanwhile has also send a strong warning to the US.
Presently, Russia is conducting a civil defense exercise involving 40 million of her citizens in major cities in the event of a nuclear or biological war. Now why would Russia do that?
Global uncertainties have never been greater and it is prudent that you hedge yourself against any eventful outcome by acquiring precious metals and miners stocks. The recent take down in gold and silver presents the ideal opportunity.
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