Gold Has Not Peaked

Posted by Peter Grandich on Manipulation and the Way Ahead

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“I want to make sure I get this across. That was the Attorney General saying that banks are not only too big to fail, but they’re now too big to prosecute. Imagine if you’re sitting in one of the trading rooms at JPMorgan or Goldman Sachs and realize that the Attorney General says we’re so big they can’t go after us. It’s like a free pass. I think this means the calamity to come will be far worse than 2008.”

“I think there’s a reason playing out in front of our eyes right now. The investment community, mainly large hedge funds and those types, has decided to make a big bet that gold has peaked. There has been a tremendous amount of shorting, and we can see it from commodity weekly results that large, speculative funds have one of their largest short positions in decades. Ironically, at the same time, the bankers have the lowest short position they’ve had in quite some time. Placing that bet has pressured the gold market, along with a slew of daily, if not hourly, articles predicting the end of the gold market.”

“Here is the problem—gold is a hated investment tool. Ninety-eight percent of the people in the financial world (and most of the media that reports on them) make their living off financial assets. You’re not going to get those people to support gold because, if gold does really well, you can be almost certain there is something wrong economically and impacting those financial assets in a negative way.”

….read the 3 page interview HERE