Source: Investment Research Dynamics, by Dave Kranzler
Desperation is setting in. The blatant attacks on gold are occurring almost exclusively during the Comex floor-trading hours now. Every night gold pushes higher as Asia’s appetite is seemingly voracious. The two most systemically dangerous banks right now, it was revealed according to the IMF, are JP Morgan and Citibank. I’m sure part of the smash is in response to that. All this action between gold and the dollar means is that the counter-force reaction to what the Fed is doing is going to be even more forceful. They already can’t control the dollar and the strong dollar is going to decimate Q4 revenues and earnings. Give it 6 months and I bet they start talking about the need to print more money. Gold will sniff that out well ahead of time.
Stewart Dougherty has provided another guest post for IRD. I…
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