The other shoes are dropping in crypto, as this weekend sees another round of
“Thelma & Louise” liquidations as specs throw in the proverbial towel and puke
… and as I noted in earlier blog posts, AT BEST it’s gonna be a while before any
sustained up move carries the alt-coins significantly higher in price, simply cuz an
entire generation of trading Dopes went full retard basket of kittens on meth FOMO,
and paid any price for anything thinking there was a bigger fool than them right
around the next second to minute … and when it works, life is good … when reality
sets in, life becomes hell … that doesn’t mean, if you’re a scalper or day trader, you
can’t make money trading the alt-coins cuz you most certainly can … but for
investors & HODL-ers, looking for that 1,000X move in some coin, that’s been put
on hold for a good long while … months maybe years to the next cycle.
Which means the spotlight falls squarely on gold, and maybe silver, and the
“going ons” in that space of corrupt bullion banks … and lo & behold, we got
coming up one helluva scenario where nobody really knows what happens next
… I speak of “Basel 3” at the end of June for European banks, and end of year
for banks in the LBMA [U.K. banks] … and from what I’m seeing & hearing, the
proverbial “writing on the wall” as of today, is that unallocated bullion,
especially paper derivatives [hello futures], won’t be allowed under Basel 3 … on
Saturday, ZH had the second in a series from “GoldMoney.com”, again
highlighting the seriousness of what faces bullion banks dead ahead … do
regulators understand what they’re about to do to the gold market if there are
no last minute changes to these rules for banks? … apparently not, or there’s
a bigger focus on the future, as in cutting banks out of digital currencies
altogether by the central banks … in any event, directly below the link to
the article.
https://www.zerohedge.com/commodities/end-paper-gold-silver-markets
I read the article, and although a little arcane & technical, I get the drift from what
GoldMoney is saying to realize that if this goes through, gold quite possibly goes
through the roof in price to where Bitcoin is at … can you imagine? … what does
it look like when every bank on the planet has to buy gold, after decades of
selling? … well, it looks like we may find out real soon!
On Friday, the FED sent out at least 4 PIE HOLES to talk gold down … each and
every one couldn’t get gold to make a new low to set off sell stops for the banks
to buy … as I’ve said before, see how this corrupt game works? … and what does
this tell you about just how short these assholes are? … and if gold continues its
straight up climb this upcoming week, expect more senior Apparatchiks like
Grandma Yellen & Spicoli to step forward and attempt to get it to go lower
… whether they succeed or not is another story, as people are waking up to the
scam being run … cuz if there’s one thing you can always count on, it’s the fact
that Western Democracies HATE GOLD with a passion … they hate it cuz it can’t
be cheated! … and the last thing demented Preezy Depends wants in the news
headlines, is that gold is moving sharply higher, and thereby forcing Sheeple in
the “U.S. of China” to think about gold … gold is EVERYTHING government isn’t,
and they know it!
We still got about 6 weeks to ground ZERO for European banks, so it might be a
tad early to judge market trading action in this regard … or maybe not, I dunno
… what I do know is that gold is about to catapult to the head of the line in
financial markets if this Basel 3 stuff goes forward as it’s written now … can you
imagine a gold trade where there’s no bullion bank selling, only hedgers &
producers in size? … OMG!, that takes gold back to the 70’s and 80’s when it was
a semi-free market … now though, I could see gold going “Palladium” rather
quickly … “yea, bring it on”!!
Onto the week, where drama rules! … outta here … “the future’s so “GOLD”-en
bright I need sunglasses”! 😎 … Onward & Upward!!
-vegas
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