The US appears to be dumping oil on the market to drive down price, apparently to hurt Russians.

Political morons in charge. Lord help us.

I really like the action in the riskier juniors and am glad that I chose to re-balance my positions a few weeks ago rather than sit in cash.

March is supposed to be the worst month for gold but that is not happening.

Just watching volumes…..expect a story soon.

If you can print money for nothing you can sell on the futures market and distort prices, then cover later at a loss with paper money that costs nothing.

No kidding!
The US wants oil prices down. Not only did it attack in the futures market, but read this:
http://www.reuters.com/article/2014/03/12/us-usa-energy-reserves-idUSBREA2B12V20140312

Thanks Doc and Cory. Just listened to the show. I appreciate you guys also see we are approaching a time when the property/equities trends might reverse in China to favoring stocks more positively. I don’t own any now but if my hunch is correct the turnaround could be pretty rewarding.

We already know that corporate debts are generally high over there but it is the specific companies that should interest us. Here is what I see playing out once the credit markets start unraveling. In a nutshell we will start to see a consolidation taking place where the weak get bought up, shut down or taken over.

There will probably a lot more mergers than buyouts if cash tightens. End of the day, competition thins a little and a few players take a bigger domestic market share at a time when the government is pressing for more internally driven consumption.

When the dust settles we get some serious performers out of the ashes and the stock market is an excellent buy once again. The idea is to bet the right horses though. Any company growing from these current low valuations should be a winner.

I might start looking around for a decent fund that has done the homework for me though. If you boys catch any good ideas I am interested. The keys will be the funds that are targeting shops with solid revenues, cash on hand and better than average growth prospects. No different than picking a great miner really.

a couple of years ago the US used the spr to drive prices down–was that ever refilled?

which btw–is another example of manipulation cause the govt says its doing it.

heck, the US probably did not even lose money on this oil price knock down.
Knowing that it would announce a sale from strategic reserves. It sold oil short first, made the announcement and may have already covered at a nice profit already.

I was just listening to the GSR weekend show and Chris was worshipping the market and I was reminded who prompted me to complain about market worshippers. No market is correct when it is manipulated and most markets are to some degree.

Corey Fleck. Hate to brake it to you but you will be left at the train station chasing the train. Remember this post!!!!! Just saying. So far i’ve been right from first post here. You have not seen downward moves as i stated. You have seen sideways consolidations as i state and as i stated before and stating again SHORTS WILL BE SQUEEZED SOON. $1360 was pivotal resistance for shorts to cover. SHORT SQUEEZE COMING UP.

There is a lot of bunk on this site where Al, and others have listened to Bob Moriarty talk the talk that market manipulation doesn’t matter. It does matter because unless you let markets correct naturally the manipulation carries on until you get a huge crash.

If you don’t allow markets to decide what is profitable and what is not all you have is an artificial marketplace and that is an accident looking for a place to happen. Only when it crashes instead of lasting one and a half years it will go on for ten or fifteen years, remember the pendulum.

Some members like Bird think that the Central Bankers can do whatever they like that is false and when the reckoning comes it will be severe and the people who think markets can always be controlled by money printing and lending rate manipulation are fools. DT

Things are starting to get interesting.

Gold has turned the corner and is starting to go from strength to strength

The last few days gold has been banging on the door of $1340 and now the door was busted wide open.

With the $1340 level taken out gold can now set its sights on something higher.

This was a big deal.

Many skeptics will say we’ve come too far too fast and will say we need a pullback or this is just a bounce.

I think the odds are looking less and less likely this is so.

Barring manipulation (more on that later) I think we have a floor now at $1340.

The bottom is in.

The next important level now is the psychological $1400.

There could be some hiccups and profit taking on the way but $1400 is now firmly in sight.
It is only a stones throw away.

Again this is barring manipulation (more on this later)

We got a long way to go and many hills to climb but gold is looking more and more like it is back in the fight.

Gold gets a “C” today.

It clearly blew past $1340, showed strength all day and closed at the highs.

IMHO it was a gamer changer

It’s later…let’s talk manipulation

First I listened today to yesterday’s interview with Chris Temple regarding manipulation.

It was the worst load of crap I ever heard. I will never listen to him again either.
And that goes ditto for Bob Moriarty.

There were so many wrong and offensive things about that interview I don’t even know where to begin. Nor will I waste people’s time.

I think the main problem first off is too many people are willing to call it the way it is, instead they stand with two feet in one show and tap dance around the issue.

Let me Mr. Temple…If a market is manipulated how are you suppose to invest accordingly as you suggested?

Do we know when JP Morgan and the ilk are going to do a hatchet job on gold?
Are we supposed to call them on the hot line and say are you bombing gold tonight? Let me know so I can short it.

This is pure BS

being around the race track I’ve had first hand knowledge of manipulation or cheating.
When a trainer shoves a sponge up a horses nostrils so he can breath as he is racing, how,do you invest accordingly if you are not in on the fix?

Then he mentions how all mallets are manipulated. That may be true, but not all markets are manipulated against the asset like gold and silver.

What I heard today sounded like someone who was making excuses and didn’t have the courage to call the thing the way it is.

I will no longer give Mr. temple or Bob Moriarty the time of day.
And if I’ve offended anyone too bad

As more and more evidence mounts regarding gold price manipulation I believe it is now time for all the players in the gold space to present a united front and make their voices heard loud and clear.

Led by industry leaders, given voice by those that have the podium and microphone, and backed by gold investors everywhere; we all need to do our part to ensure justice is meted out.

We can no longer afford to let a few small organizations and impassioned individuals do all the heavy lifting. It cannot be the voice of one crying in the wilderness.

We need to blow the trumpet, gather the troops and march off to war.

And make no mistake, this is a war.

I say it is high time a fully funded central organization be created with the backing on the gold community whose mission and statement will be to seek the truth, expose falsehood and communicate to the entire financial community the injustice that is the gold manipulation.

Part of this communication could be full paged advertisements run in all the major newspapers. I would gladly contribute to this worthy cause.

What is now needed is publicity, and lots of it.

The average person on the street, whether directly involved in the gold market or not; needs to be made aware of this blatant attack on fair and free markets.

The bottom line is everyone is a victim.

We cannot afford to drop the ball here.
We cannot afford to wait.
We cannot afford to turn a blind eye.
We need to strike while the iron is hot.

If manipulation can be proved hefty fines will be doled out to the guilty parties, but it cannot stop there; the victims must be recompensed.

This cannot happen without a united, strong and vocal front.

I say let’s go on the offensive now and send a message of our own.

We are mad as hell and were not going to take it anymore!

Like Hancock let me be the one to sign first…

James N.

Now that I am speaking my mind, when Al interviews people he shouldn’t express his opinion and then ask the person what he thinks, he should only express his personal beliefs when he is doing an editorial otherwise his interviews become biased. He might not like me saying this but that is the way it should be. DT

Agreed

The other day I was trying to get a message across to people on this board about how inflation was about to surge and make a huge comeback. I explained in detail my theory of rising commodity prices in two key areas. Those are energy and food.

I have been ringing off the hook telling you that commodities are going to resume their bull market trend and suggested that the commodity super cycle itself is still alive and well. At least for the softs like cotton, oats, corn, wheat, sugar, coffee and the like.

And I meant every word of it. Agriculture is about to take a rocket ride. Think farm chemicals, farm machinery, agricultural chemicals, fertilizer, farmland, crops, meat, dairy, cheese, trees, bees and all the rest of the good stuff that grows. I think the future of those things will be stellar and that trend will stun most on this board (except Chris Temple of course).

Anyway, the key takeaway point of my post a few days back was this……energy and food are NOT included in the core inflation rate which is the rate that every single G20 country uses as a guidance tool. It is even used to set interest rate policy. Energy and food are only included in the Headline inflation numbers which nobody uses except that guy from Shadowstats.

So I am going to tell you this again and you can ignore it at your peril.

We are going to start getting an inflation ramp up that will make heads spin and none of it will even show up in official core numbers. I am talking a price explosion. So that means even if food and gas triples eventually your pensions won’t budge an inch and neither will you get an easy ride if asking the boss for a salary increase.

So why does this matter to us?

Well it matters because most of our countries are broke and can’t pay their bills. It matters because every single major Central Bank from Japan to England to the US and most of Europe need to keep rates low or they will go bust servicing debt. And they cannot allow the kind of inflation that causes their budgets to rise and forces rates up in a way that imperils deficits and debt servicing.

So bad inflation must be suppressed.

But we also NEED inflation! Why? Well look around. Unemployment is ungodly high in Europe. There are mountains of public debt suffocating the whole Western world. Economic growth is not even being called tepid anymore as is verging on outright declines across the pond and the tax base cannot be expanded enough to keep up with a combination of falling GDP and rising debt and deficits.

Japan is working overtime to stop the deflation of the past but it just posted its worst trade deficit in history despite courageous attempts to destroy the Yen and cause the world to break down its doors in a buying frenzy.

But most of the developed (and some of the emerging countries) are all in the same boat together with too much debt, not enough revenue and unemployment rates that refuse to heal.

We inflate or we die. Just that simple.

So strap on the Sunglasses gold lovers because you are about to get your dream for higher metal prices. A lot higher. You will wish you never got this fantasy fulfilled though because it will all come out as stagflation in the economy as rising costs simply become a form of tax unless incomes start rising to meet the inflation rate changes.

And here is why this is being done.

We need to keep rates low long enough that inflation breaks out (if even by stealth) or we will go bust. Every CB on the planet is in on the deal. I mean every one of the G20 and most of the major emerging markets too. They all have problems when interest rates rise and now there are too many countries combating falling growth and poor GDP numbers.

So the solution is simple.

Get inflation moving that is off the official published statistics and get it running ahead of rates as quickly as possible. If it does not move easy then force it to go. Then maybe….just maybe….we will buy some time until genuine growth kicks into gear and pulls all our sorry arses out of this global slump once and for all.

Make no mistake that this has been deliberated on. It is not going to happen by mistake.

So tonight I came across a missing piece of the puzzle. It has come to me via an article on Zerohedge about comments made by the Governor of the Bank of England, Mark Carney. In that piece he was quoted as saying that interest rates will rise sixfold in England by 2017. That is not a typo. He said rates WILL rise sixfold. So guess what rate setting will soon look like over here and in the rest of Europe in the coming years?

Well, unless Carney is setting up a huge carry trade and in the process hatching a plan to suck up capital from across the globe against the grain of all the other Central Banks low rate policies then it is a pretty damned good bet we are also going to be getting higher rates too.

OK. If you got this far you are already saying “Wait a second Birdman”. You just told us rates have to stay low and now you are also reporting that Mark Carney said rates will rise sixfold. Therefore you don’t know what the hell you are talking about.

Well you know what? I do know what I am talking about.

You all better go back and revisit the 1970’s to understand what is now coming down the tacks and you all better buckle up cause it’s going to get very rocky indeed. Because when the Governor of one of the most important Central Banks on earth (a Goldman guy I might add) tells us that rates WILL rise sixfold by 2017 then what he is really saying by default is that inflation is going to be utterly blistering.

Anybody out there recall the energy crisis?

Well it is going to be all of that and worse. Oh sure, wages will rise eventually. They always do but they also always lag as well. Expect protests. Expect some labour unrest. Expect shortages of goods. Expect to get really squeezed on your budget and most especially if you are deep in debt.

There might even be riots in some places because this is going to hurt like hell.

And now we know why. Rates are going up because they can’t stay down anymore. But inflation will eat you alive in the process because it is going to go up even faster. That’s just how the world works folks……and one last note for the guys who want to start freaking out that hyperinflation will arrive or some other silly poppycock….sorry guys. It is not going to happen.

You really think that the Fed and major Central Banks across the globe spent the last five years propping up the financial sector just to see all their work wasted or that the banks will whither away and die as your mortgage loans disappear in a blizzard of paper money? Not on your sorry fat lives! Nope, you are going to get exactly the kind of inflation that makes the numbers work and not the stuff that makes you feel richer or pays off your debt.

And THAT is why most of the inflation is going to come in energy and food.

Birdman. I do get the game! You suggesting shorts are in control which if false. They lost that control in January and bulls are driving this market now. Furthermore cartel already tried few times to knock the price and it failed with only 15$ move instead of $50 like in the past. FAIL. GOLD WILL HAVE GREAT MONTH IN MARCH. You and Corey Fleck will be left at the station chasing the train higher. Mark my words. Save it!!!!! Don’t buy DUST. You will lose your a$$.

BIRDAMAN YOU’RE ALREADY DOWN 10% ON DUST ON YOUR FIRST DAY…AHAHHAHAHAHAHAHHAHAHAHAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH