Mark Leibovit: What the Smartest People Are Doing

Posted by Mark Leibovit - The VR Platinum Newsletter

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A quote from Mark’s daily VR Platinum Newsletter:

Gold closed up 7.80 at 1240.50. The recent peak of 1263.10 was posted on February 11. Gold traded at 1047.70, a new low on December 2. The gold market was being driven lower in the time-tested manipulation strategy of pushing prices lower to attract selling and enable accumulation. It still appears the U.S. Dollar Index has topped out for the near-term which helped gold. Either way, gold can rally in my opinion. Yes, the COMEX is a fraud. Others concur. Delivery of large quantities is nearly impossible as the COMEX offers cash settlements. That tells you physical supplies are limited if non-existent. Resistance is now 1306 and 1425. Support is 1030-1040 and then 980. My ongoing concern is central bank collusion to keep the price of gold down, growing pressure to control the flow of cash and the spying on bank customers who wish to withdraw cash. What we need to do to throw the bums out that are suppressing prices – rigging! When the financial system crashes either by its own weight or perhaps by actions of Russia, China or Islamic terrorism, think about what assets you want to own – a bank account? – a brokerage account? What if you are locked out? I’m holding my gold and adding all the way down. I would also suggest keeping a generous amount of cash, food, and firearms under the mattress as insurance. That is what the smartest people I know are doing.

via Mark Leibovit 

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