Friday, April 2, 2010

Gold, Silver, the CFTC, MSM & Conspiracy Theories

Make sure you read the excellent summary (!!!) via Tim on his Blog "The Mess That Greenspade Made" covering every angle from last week’s hearing by the CFTC (Commodities Futures Trading Commission)....

Empfehle allen die ein Interesse in Gold haben sich die erstklassige Zusammenfassung (!!!) via Tim vom Blog "The Mess That Greenspan Made" im Zusammenhang mit den Anhörungen der CFTC (Commodities Futures Trading Commission) inklusive der darin enthaltenen Links aufmerksam durchzulesen.....

Despite the "remarkable" news from the CFTC hearing GOLD is hitting new highs in almost every currency out there & the inevitable bubble talk is heating up once more..... I can spot exactly one intact long term bull market in the following chart....

Trotz der "bemerkenswerten" Erkenntnissen der CFTC Anhörung notiert GOLD in praktisch jeder Währung auf neuen Rekordständen. Fast unvermeidlich das der "Bubble Talk" mal wieder die Runde macht.... In dem nachfolgenden Chart erkenne ich ( obwohl kein Chartexperte ) genau einen langfristig intakten Bullenmarkt...

H/T Todd Harrison / Minyanville via Pragmatic Capitalist

Tim sums it up / formuliert es treffend

There is widespread agreement that something needs to be done to limit trading position sizes in energy markets because, when Goldman Sachs or some hedge fund start driving the price of oil to $120 or $150 a barrel, then gasoline prices surge past $4 a gallon and, not only is this bad for the economy, but, people are understandably miffed and they start complaining to their Congressmen.

But, if, as Maguire charges, big banks like HSBC and JP Morgan use these same kinds of concentrated positions on the short side for gold and silver in an attempt to keep prices down amid growing troubles in a world full of paper money, it would seem inconsistent (as a minimum) to not take action here as well.

AMEN!

Disclosure : "GOLD-BUG" ;-)

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