I must say, I’ve never really been one for technical analysis, but watching the once-mighty cartel desperately trying to keep gold below the ‘ceiling’ of $1,900 dollars is hilarious.
What do the poor loves think they’re doing? How long exactly can they hold this line, especially as the cartel is shortly to announce massive money printing in the US, the UK, and the EU, with the Japanese and the Swiss racing them down to the bottom? And what will the cartel do once the COMEX has abolished all margins and gone one-to-one physical? Will PAGE in China still let COMEX rule the roost on the yellow metal, once the COMEX are out of bullets?
Expect fireworks on Sunday, if the cartel can survive that long, when they’ll deploy the last of their Gazpacho soup.
And how historically ironic that the Russians and the Chinese are going to break the cartel. I’m sure Karl Marx is having a giggle about this right now, in whatever passes for an atheist heaven.