Mark Leibovit’s Daily Gold Comment

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Despite the lowering of margins requirements on the part of the CME (Counterfeit Mercantile Exchange), metals took a bit of a tumble on Friday and tried and failed to rally yesterday. I’ve cautioned we might be hitting a short-term trading top. We know ‘seasonality’ studies call for a top in gold by the end of February while also calling for a very choppy period in silver until it reaches its theoretical May peak. A retracement in silver to 30-31 and gold to 1610-1660 would be ‘normal’. Anything beyond that, particularly on increasing volume would be a negative. That said, I remain on my BUY signal thinking we could still see gold at 2000+ this year. Silver could well test its high at 49-50. Stay tuned.


Gold Fire Sale

Buy Now Sale Ends Soon


Inverse Lin-omena, the inverse of the Jeremy Lin phenomena where the unknown and previously discounted suddenly rise to prominence; here, the powerful and previously secure suddenly fall.

Today, central bankers, the mandarins of capitalism, are in disarray. Their attempts to contain capitalism’s current crisis increasingly resemble the tactics of a defeated army in retreat. Like Napoleon and Hitler’s respective “Moscow moments”, the 21st century economic crisis has brought to an end the bankers’ spectacular 300 year run at the table of power and wealth.

The indebting of others as a means of accumulating wealth ends when the indebted can no longer pay what they owe. The arcane and esoteric scribblings of second generation University of Chicago trained economists cannot cover up this basic fact, i.e. that the indebted are broke; and soon, their creditors will be as well.

The bankers’ franchise of credit and debt built on a leveraged foundation of paper money fractionally backed by gold allowed the West to accumulate geopolitical power and wealth on a vast scale. That era is now over.

It ended when the gold convertibility of the US dollar was terminated in 1971 when the cost of maintaining a global military presence outstripped the ability of the US to pay in gold what it owed on paper.


….read much more HERE