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This Will Send The Price Of Gold Skyrocketing

February 28, 2014 7:32 am est

THE 2014 GOLD SERIES – PART 1 OF 5 An Info-graphic

Kerry Promises Ukraine $1 Billion Bailout (Detroit, Not So Much) – Having threatened Russia that “any military move would be a grave mistake” and sounding awefully like a “line” to be crossed, US Secretary of State John Kerry told reporters that the US is ready to bail out Ukraine…

*KERRY: RUSSIA MILITARY MOVE ON UKRAINE WOULD BE GRAVE MISTAKE

*KERRY SAYS U.S. PLANNING $1 BLN LOAN GUARANTEE FOR UKRAINE

*KERRY SAYS U.S. WORKING WITH IMF, OTHERS ON AID TO UKRAINE

One has to wonder how many US jobs this will create (or save)? Or will Ukraine offer unlimited vodka to citizens of Detroit (or Puerto Rico for that matter)?

As Reuters headlines show:

U.S. CONSIDERING UNSPECIFIED BUDGET SUPPORT FOR UKRAINE ON TOP OF POSSIBLE $1 BILLION LOAN GUARANTEE – KERRY

KERRY SAYS POSSIBLE MILITARY INTERVENTION BY RUSSIA IN UKRAINE WOULD BE A COSTLY DECISION, GIVES NO DETAILS

Eric Sprott On The “Golden Opportunity” – BaFin, the German equivalent of the SEC, said that precious metals prices were manipulated worse than LIBOR.2 What are we to read into this, particularly the word “worse”? Obviously, worse than LIBOR could not mean that more money was fraudulently earned since the LIBOR markets are many orders of magnitude larger than the precious metals markets. Then it must mean that the egregiousness of the pricing dysfunction was materially larger in precious metals.

Gold and silver have broken their downtrends and have surpassed their 200 day moving averages. The golden cross (i.e. the fifty day rising through the 200 day) still awaits, but it is most likely to happen within weeks.

When was the last time that an obvious reversal of an anomalous, yet explicable market dysfunction allowed you to imagine that you could expect multi-hundred per cent returns over a short time period? Again, don’t miss this Golden Opportunity!

Supreme Court Rules Police May Search A Home Without Obtaining A Warrant – If the most disturbing, if underreported, news from yesterday, was Obama’s “modification” of NSA capabilities, which contrary to his earlier promises, was just granted even greater powers as phone recording will now be stored for even longer than previously, then this latest development from the Supreme Court – one which some could argue just voided the Fourth amendment – is even more shocking.

RT reports that the US Supreme Court has ruled that police may search a home without obtaining a warrant despite the objection of one occupant if that occupant has been removed from the premises. With its 6 to 3 decision in Fernandez v. California on Tuesday, the Court sided with law enforcement’s ability to conduct warrantless searches after restricting police powers with its 2006 decision on a similar case.

Cover your computer cam… Yes, The Government is Spying on You Through Your Webcam – Another “Conspiracy Theory” Proven True –  Britain’s surveillance agency GCHQ, with aid from the US National Security Agency, intercepted and stored the webcam images of millions of internet users not suspected of wrongdoing, secret documents reveal.

GCHQ files dating between 2008 and 2010 explicitly state that a surveillance program codenamed Optic Nerve collected still images of Yahoo webcam chats in bulk and saved them to agency databases, regardless of whether individual users were an intelligence target or not.

In one six-month period in 2008 alone, the agency collected webcam imagery – including substantial quantities of sexually explicit communications – from more than 1.8 million Yahoo user accounts globally.

This Will Send The Price Of Gold Skyrocketing – I fear that it will be a shortage in physical metal because that could be very, very extreme if we do get some kind of delivery failure somewhere, or somebody asks for their gold back and they can’t have it.  That would be a very disorderly rise.

If people who like to get into gold because they think it’s going to go higher because they want to make a couple of hundred bucks (on the upside in gold), once they start to feel like they can do that, they will jump back on the bull again and we will see gold move up steadily.  It doesn’t matter what the extraneous circumstances are — the price will move higher if we get speculation because a lot of the physical metal has now gone to places where it’s going to stay for a very long time.

China’s January Hong Kong gold imports soar 326% year on year – Lies, damn lies and statistics!  Take the headline above and compare it with the Bloomberg headline for effectively the same story using exactly the same figures which was: China’s Gold Shipments From Hong Kong Decline as Demand Weakens. Both headlines are absolutely correct based on the figures but you wouldn’t believe so from reading them, indeed you could be forgiven for thinking one of them is obviously a downright lie. It just depends which way you care to spin it and some recent Bloomberg headlines do seem to have tended towards negativity with regard to Chinese gold imports.

We Just Got A Major “Buy Signal” On Gold

Despite Pullback, Gold May See A Massive Short Squeeze