Best of the Week
Most Popular
1. Market Decline Will Lead To Pension Collapse, USD Devaluation, And NWO - Raymond_Matison
2.Uber’s Nightmare Has Just Started - Stephen_McBride
3.Stock Market Crash Black Swan Event Set Up Sept 12th? - Brad_Gudgeon
4.GDow Stock Market Trend Forecast Update - Nadeem_Walayat
5.Gold Significant Correction Has Started - Clive_Maund
6.British Pound GBP vs Brexit Chaos Timeline - Nadeem_Walayat
7.Cameco Crash, Uranium Sector Won’t Catch a break - Richard_Mills
8.Recession 2020 Forecast : The New Risks & New Profits Of A Grand Experiment - Dan_Amerman
9.Gold When Global Insanity Prevails - Michael Ballanger
10.UK General Election Forecast 2019 - Betting Market Odds - Nadeem_Walayat
Last 7 days
Learn to Spot Reliable Trading Setups: ANY Market, Any Market Time Frame - 21st Oct 19
How To Secure A Debt Consolidation Loan Even If You Have A Bad Credit Rating - 21st Oct 19
Kids Teepee Tent Fun from Amazon by Lavievert Review - 15% Discount! - 21st Oct 19
Stock Market Stalls: Caution Ahead - 21st Oct 19
Stock Market Crash Setup? - 21st Oct 19
More Stock Market Congestion (Distribution) - 21st Oct 19
Revisiting “Black Monday Stock Market Crash October 19 1987 - 21st Oct 19
Land Rover Discovery Sports Out of Warranty Top Money Saving Tips - 21st Oct 19
Investing lessons from the 1987 Stock Market Crash From Who Beat it - 20th Oct 19
Trade Wars: Facts And Fallacies - 20th Oct 19
The Gold Stocks Correction and What Lays Ahead - 19th Oct 19
Gold during Global Monetary Ease - 19th Oct 19
US Treasury Bonds Pause Near Resistance Before The Next Rally - 18th Oct 19
The Biggest Housing Boom in US History Has Just Begun - 18th Oct 19
British Pound Brexit Chaos GBP Trend Forecast - 18th Oct 19
Stocks Don’t Care About Trump Impeachment - 17th Oct 19
Currencies Show A Shift to Safety And Maturity – What Does It Mean? - 17th Oct 19
Stock Market Future Projected Cycles - 17th Oct 19
Weekly SPX & Gold Price Cycle Report - 17th Oct 19
What Makes United Markets Capital Different From Other Online Brokers? - 17th Oct 19
Stock Market Dow Long-term Trend Analysis - 16th Oct 19
This Is Not a Money Printing Press - 16th Oct 19
Online Casino Operator LeoVegas is Optimistic about the Future - 16th Oct 19
Stock Market Dow Elliott Wave Analysis Forecast - Video - 16th Oct 19
$100 Silver Has Come And Gone - 16th Oct 19
Stock Market Roll Over Risk to New highs in S&P 500 - 16th Oct 19
10 Best Trading Schools and Courses for Students - 16th Oct 19
Dow Stock Market Short-term Trend Analysis - 15th Oct 19
The Many Aligning Signals in Gold - 15th Oct 19
Market Action Suggests Downside in Precious Metals - 15th Oct 19
US Major Stock Market Indexes Retest Critical Price Channel Resistance - 15th Oct 19
“Baghad Jerome” Powell Denies the Fed Is Using Financial Crisis Tools - 15th Oct 19
British Pound GBP Trend Analysis - 14th Oct 19
A Guide to Financing Your Next Car - 14th Oct 19
America's Ruling Class - Underestimating Them & Overestimating Us - 14th Oct 19
Stock Market Range Bound - 14th Oct 19
Gold, Silver Bonds - Inflation in the Offing? - 14th Oct 19
East-West Trade War: Never Take a Knife to a Gunfight - 14th Oct 19
Consider Precious Metals for Insurance First, Profit Second... - 14th Oct 19

Market Oracle FREE Newsletter

Stock Market Trend Forecast Oct - Dec 2019 by Nadeem Walayat

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

© 2005-2019 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

6 Critical Money Making Rules