Silverado Gold Mines

Author : Andrew Hoffman
Published: April 25th, 2016

With each passing week, new “game-changing” events are exposing the Cartel in plain site; from the January 28th silver “fix” that prompted many of the world’s largest miners to no longer trade on the LBMA; the BOJ joining the QE-expanding ECB in negative rate territory; Sprott’s PSLV silver fund executing its first offering (and $86 million silver purchase) in five years; and Deutschebank admitting it has manipulated the gold and silver markets for 15 years. Consequently, gold, silver, and platinum have decidedly broken out in dollar-priced terms – breaking above long-time, Cartel-generated resistance levels to reach multi-month highs. And trust me, when mining shares start leading the metals, and silver leads gold, we are unquestionably in a bull market.

To that end, what we witnessed the past three trading days was, even for me, incredible to watch. Starting on Wednesday; when, as the PPT again “dead ringer’d” the Dow higher, the Cartel’s new “lines in the sand” at $1,250 gold and $17 silver were defended first at the usual “2:15 AM” EST open of London paper trading; and then, for the third time in the past month, in the last half hour of NYSE trading.

Thursday was even worse – with gold and silver, on the first day of the Shanghai Fix, rising as high as $1,270/oz and $17.60/oz, respectively, before being smashed down – amidst massively PM-bullish economic data, at the 10:00 AM EST close of physical PM trading; closing trading session at, what do you know, exactly $1,250/oz and $17/oz.

That said, Friday was worst yet; as even with silver surging anew – this time, to $17.30/oz – the Cartel capped gold with a vengeance at $1,250/oz. In fact, during the morning, reflecting what I noted above, the “red-headed stepchild” silver was actually thwarting the Cartel’s efforts to smash gold! Finally, at the 12:00 PM EST “cap of last resort,” with no other markets budging, amidst a slew of “PM bullish, everything-else-bearish” news, the Cartel were finally able to waterfall decline gold, getting it to plunge $20/oz before closing down $16/oz. However, silver closed down a mere $0.02/oz, as the Cartel yet again failed to reverse the powerful, real-metal-buying-supported silver surge. And by the way, note how identical silver’s charts were on both days, showing the entire, rapidly-learning world just how obviously it is manipulated. Let alone, in light of last week’s game-changing Deutschebank admission.

To a man, the most amazing aspect of what’s going on done in such a short amount of time. And yet, as I wrote is the Cartel’s abject desperation, in naked shorting more paper metal than it has ever in “about those COTs” and other articles, they are decidedly failing to push the metals down – particularly silver, which is challenging 52-week highs nearly every day now. Again, because we are back in a bull market.

I mean, look at these charts of “commercial” – i.e., Cartel – shorting. In silver’s case, to nearly its highest level ever; and for gold, its largest short position nearly three years. And given that the latest COT data point is as of Tuesday’s close – before the aforementioned three days of Cartel ignominy – I can only imagine where their short positions stand today; particularly in silver, which still sits just under $17/oz, after taking the Cartel’s best shots.

To that end, the last time I saw silver act so strongly was right after PSLV went public in late 2010 – before surging from $24/oz to $50/oz in just seven months’ time. And given that today’s silver (and gold) fundamentals are many multiples more powerful, it’s only a matter of time before the Cartel, and its minions, are utterly destroyed. Frankly, I wouldn’t be surprised to see things play out just as they did in 1980, with the last 90% of the bull run occurring in the last 10% of time. And even if PMs’ ultimate trajectory is different, their gains will be far greater. As this time around, there will be no governments or Central banks capable of slowing them down.

The dollar-priced gold and silver bottoms are in; and now believe the “Cartel’s last stand” is directly ahead of us. As usual, the far tighter silver market is leading Economic Mother Nature’s real money troops; and frankly, I’d be shocked if they don’t “break through enemy lines,” to some extent, this year. And when they do, you will you be thankful to have physical metal in your possession, and terrified at the coincident changes in “civilization.”

((( GOT SILVER )))