Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks Bull Market Smoking Gun - 25th May 24
Congress Moves against Totalitarian Central Bank Digital Currency Schemes - 25th May 24
Government Tinkering With Prices Is Like Hiding All of the Street Signs - 25th May 24
Gold Mid Tier Mining Stocks Fundamentals - 25th May 24
Why US Interest Rates are a Nothing Burger - 24th May 24
Big Banks Are Pressuring The Fed To Losen Protection For Depositors - 24th May 24
Another Bank Failure: How to Tell if Your Bank is At Risk - 24th May 24
AI Stocks Portfolio and Tesla - 23rd May 24
All That Glitters Isn't Gold: Silver Has Outperformed Gold During This Gold Bull Run - 23rd May 24
Gold and Silver Expose Stock Market’s Phony Gains - 23rd May 24
S&P 500 Cyclical Relative Performance: Stocks Nearing Fully Valued - 23rd May 24
Nvidia NVDA Stock Earnings Rumble After Hours - 22nd May 24
Stock Market Trend Forecasts for 2024 and 2025 - 21st May 24
Silver Price Forecast: Trumpeting the Jubilee | Sovereign Debt Defaults - 21st May 24
Bitcoin Bull Market Bubble MANIA Rug Pulls 2024! - 19th May 24
Important Economic And Geopolitical Questions And Their Answers! - 19th May 24
Pakistan UN Ambassador Grows Some Balls Accuses Israel of Being Like Nazi Germany - 19th May 24
Could We See $27,000 Gold? - 19th May 24
Gold Mining Stocks Fundamentals - 19th May 24
The Gold and Silver Ship Will Set Sail! - 19th May 24
Micro Strategy Bubble Mania - 10th May 24
Biden's Bureau of Labor Statistics is Cooking Jobs Reports - 10th May 24
Bitcoin Price Swings Analysis - 9th May 24
Could Chinese Gold Be the Straw That Breaks the Dollar's Back? - 9th May 24
The Federal Reserve Is Broke! - 9th May 24
The Elliott Wave Crash Course - 9th May 24
Psychologically Prepared for Bitcoin Bull Market Bubble MANIA Rug Pull Corrections 2024 - 8th May 24
Why You Should Pay Attention to This Time-Tested Stock Market Indicator Now - 8th May 24
Copper: The India Factor - 8th May 24
Gold 2008 and 2022 All Over Again? Stocks, USDX - 8th May 24
Holocaust Survivor States Israel is Like Nazi Germany, The Fourth Reich - 8th May 24
Fourth Reich Invades Rafah Concentration Camp To Kill Palestinian Children - 8th May 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gold And Silver China’s Pivotal Role: More Questions Than Answers. Not So For Charts

Commodities / Gold and Silver 2015 May 09, 2015 - 02:10 PM GMT

By: Michael_Noonan

Commodities

The belligerent United States continues to assert its fading but still lethal destruction around the globe.  Just one guess who is behind the Saudi invasion of defenseless Yemen, covered here previously, [See What Moved Price? Ba el-Mandeb ]?  The Military Industrial Complex [MIC], finds it financially rewarding to sell all the military might necessary to wage war of any kind, anywhere around the world.  After all, when the primary country you occupy has over 6,000 retail stores closing, domestic business is not doing very well, so the federal government needs income from somewhere.


Are we unfairly picking on the United States?  Absolutely not, unless you are a U S citizen whose sole source of information comes from the NWO mainstream news media which is prevented from ever covering the truth.  [See Obama More Hostile Towards Press Than Any Other President In History].  Rather than try to convince anyone, in a sentence or two, that freedom of the press is just a myth in this country, we will let this WashingtonsBlog article do the heavy lifting as just the tip of the news media iceberg.

Our focus on gold and silver is more of an unconventional approach because the conventional news stories on them regurgitates a never-ending supply of statistics that have nothing to do with current prices.  What does?  The ongoing existence of the New World Order’s lead “hit man,” the corporate federal U S government, forcing the debt-ridden fiat Federal Reserve Notes [FRN], aka the “dollar,”as the proxy for keeping the largest and longest ever Ponzi scheme of enslaving the world.

It is the same US that is arming the Saudis, [who by the way, are killing the US shale oil fracking industry, thereby further weakening the both the country and its fiat petro-dollar to ensure there is no other competition for Saudi oil], that started the [failed] Ukranian War, also over money, [preventing Russia from being the top energy supplier to Europe, and thus keeping the EU under the financial thumb of the US].

If you listen only to the mainstream news, Russia, which means Putin, is the despised enemy.  Yet, there is not a single piece of evidence that supports the US-led propaganda agenda that demonstrates Russia was an aggressor in the illegal CIA-induced coup of Ukraine’s previously elected president [who happened to not support US interests.]

Exactly what has that villain Putin been up to over the past few years?  He has been one  of the chief architects behind the BRICS coalition, initially Brazil, Russia, India, China, and South Africa. Today, the BRICS association now includes over 100 other nations choosing to become affiliated with their commerce-building efforts.  This is in sharp contrast to the US-led force of debt-enslavement at the end of a barrel.  For as long as the US maintains its destructive ways, all as a means of protecting the fiat Ponzi “dollar” scheme, gold and silver will be kept artificially suppressed.

Yes, there are talks under way of having the IMF’s Special Drawing Rights [SDRs], a basket of the leading fiats: US “dollar,” the British fiat Pound, the completely fiat Euro,
and the toxic fiat Japanese Yen, become the next replacement for the “dollar.”  It is to include the Chinese renminbi, another fiat, but issued by a country that has accumulated one of the [unofficially] largest gold reserve holdings in the world.

The inclusion of the renminbi will not go into effect until January, 2016, at the earliest.
Will this be the often touted gold and silver reset that will cause the price of both to reach new and much higher price levels?  That remains to be seen.  We believe there is no chance whatsoever that China will have its currency be gold-backed, that is convertible into gold.
In fact, there is no country that has enough gold to issue a gold-backed currency.  The SDR will remain a basket of fiat paper, and any change, although perhaps welcome to what exists, will be temporary, maybe for a decade or more [or less].

The US fiat FRN will still be a part of the SDR basket of currencies, and its “worth” is no
better than the “worth” of the Pound, Euro, or Yen.  You can put lipstick on a pig, but it is still a pig.  The SDR is still a creature of the IMF, and the IMF is still a creature of the BIS,
[Bank for International Settlements], and the BIS is still a creature of the Crown, the NWO, the Rothschilds.  Who is fooling who, here?  Adding the Chinese yuan is not going to resurrect a corrupt-to-the-core system.

We do not know the end game for the Chinese?  Part of it is certainly to be recognized as the world’s dominant new-kid-on-the-block financial power, and the Chinese want their just due, understandably.  What part will Russia and India play?   Both countries also have significant gold holdings, whereas the Western countries have mostly divested themselves of that “barbaric metal,” the one that earns no interest.  There is less and less mention of that long time standard phrase now that fiats are starting to charge a fee for holding cash, the same cash that generates no interest in a BIS-dictated world of zero interest rates so the entire Western banking Ponzi scheme can be kept afloat.

If the Chinese are willing to become a greater part of the system, will that parasite system  eventually destroy China as it has the United States?  The entire apparatus is already well-entrenched.  All that need to be done is shift the focus from the West to the East, a changing of the guard, as it were.  How smart are the Chinese?  Are they becoming the world’s next economic powerhouse to undergo an eastern-style fleecing as has occurred in the completely shorn West?

What if China has longer term plans to destroy the Crown, the fiat king-makers, driving them from the fiat temple?  It certainly cannot be accomplished overnight, if ever.  By gaining a foothold in the IMF’s SDR basket of currencies, China will be positioned to have a much greater say.  Right now, China has the US over a debt-ridden barrel from under which the US will never recover.  This country is being asset-stripped in its ignominious end as a once mighty super-power falling from fiat grace, actually and ironically by design.

It is not the US that has been dictating the turns, but the moneymakers, the invisible Crown that has been, and still is, controlling every aspect of life on this planet, certainly in the Western world.  The largest question that remains is, to what extent does their dominance extent to the East?

Yes, Putin purportedly kicked the Rothschilds out of Russia and took back control of Russia’s financial destiny, but Putin also has long ties to Kissinger, and has expressed cooperation with the IMF, as has China.  Will the two largest Communist countries and enemies actually become financial white knights to overthrow the Western-dominated capitalists in a literal reversal of fortune?

There are many unanswered questions that go way beyond the seemingly most pressing ones of wanting to know when gold and silver will rally, and by how much?   For how much longer can the reality of an acknowledged shortage for physical gold and silver go on in the face of an unprecedented and growing supply of worthless fiat, where the former have a historic intrinsic value and the latter has no value, whatsoever, except in the mindless minds of the users?

The fiat “dollar” charts are included because it remains the nemesis for any meaningful gold and silver rally, near term, or even longer as the charts suggest.  Tops are often not confirmed as a top until some time after the fact, even months.  It is too soon to say the “dollar” has topped, yet.  It is likely in a topping phase, but if the high volume spike is a preliminary indicator of this process, there are many more months to go.

If a final top is in but not confirmed, there are still a few months of activity that could keep the “dollar” at current to slightly higher price levels as distribution gets more underway.
Either way, it is too soon to declare the “dollar” is dead, for it is not.

The best and most informative information comes from the manner in which price responds to an obvious support or resistance level, this one at support.  If support is to hold, a rally should ensue, soon.  If support is to fail, price will continue to hug the 94 level prior to giving way, if it does not simply give way, sooner.  In all events, the way in which price reacts will be an important clue for direction and possible trend change.

Our old friend, Bearish Spacing is being reintroduced as a reminder of why this event can be significant information.  It began to form in August of 2013.  It is now May 2015, and price has yet to challenge that bearish indicator, and in fact has continued lower.  The thinner horizontal lines are simply additional potential layers of resistance for silver.

So many waste time trying to figure out in which direction price will move from the middle of a TR [Trading Range].  It is almost always an effort in futility, unless price has shown some obvious activity that will lead to a more apparent directional move.  We do not see any, or at least one that holds a lot of promise, either way.

The weekly silver analysis applies to gold, as well.  Charts are charts.  The bearish story has not yet ended.

For as much as we enjoy reading charts, this one is tedious.

By Michael Noonan

http://edgetraderplus.com

Michael Noonan, mn@edgetraderplus.com, is a Chicago-based trader with over 30 years in the business. His sole approach to analysis is derived from developing market pattern behavior, found in the form of Price, Volume, and Time, and it is generated from the best source possible, the market itself.

© 2015 Copyright Michael Noonan - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Michael Noonan Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in