From the AUM board......
From GATA’s friend Jim Willie, who sent us the following today, which reflects on the above…
After a seeming tough messy but productive week in the gold trading trench warfare, my reliable gold trader source offered a summary with more expressed satisfaction than ever conveyed in all the years we have been in contact. It is not completely over as a war, but the Battle of the Bulge and Battle of Midway seem concluded, each a major victory. This message is of chest pounding with a foot atop a dead victim. The gold price is surely depressed, but the gold cartel is reportedly mortally wounded. The path upward might be cleared to the point of ending this latest round of price suppression. The Good Guys have finished a mission for this round. The gold trader has a keen knowledge of WW2 and hardened experience of Russia. He wrote, "This is great. The market is cleaned out when it comes to physical.
The purchases to drain the cartel are 1000 MT [metric tons] per shot/transaction. The Boyz are illiquid and have to sell at budget bargain prices. The ones they used to patronize and torment are now screwing them back using a telephone pole up the hind quarters with the tip wrapped in razor wire. No prisoners are being taken. I have never seen such merciless executions to that magnitude in my entire career. The target banks call for help and protection, not knowing that they are actually confronted with their executioners. It must be a lonely feeling when the only thing they sense is their own warm blood running down their bodies. They know they are done. It is like the final scene in Enemy at the Gates where Vassili Zaitsev, the legendary Russian sniper, out-maneuvers the German Major Konig sharpshooter. The major takes of his cap, looks at Zaitzev who put a bullet right between his eyes. The real players know when it is game over." This note is encouragement to the extreme for investors to stay in the game, hang onto the gold & silver bars, and wait for the rise like a phoenix in precious metals price since the resistance by the cartel has been significantly removed to the point of assuring victory with a heap of confidence. The Eastern Coalition has transferred over one quarter of a $trillion in gold bullion in under three months from the Western gold cartel camp and munitions cache. They are left defenseless in New York, London, and Western Europe, unable to stop what comes, which in plain terms will be a rise in the gold price that zooms past $2000/oz and finds its rightful level based on value and equilibrium free from the tight grip of suppression. The Jackass cannot promise a date when the historical phoenix rise will occur, but it is on this side of the horizon. The outcome is assured. It is unclear what the laurels will look like or what the air will be like relaxing and healing from the battle waged, sitting on the porch sipping ice tea or whisky sours. Details on the denouement are not at all clear.
