Selling Bullshit

COMMENT: Marty; This is really going to be interesting now that banks are existing proprietary trading and the organizations who have spun this tale that the metals are not substantially higher because they are manipulated will have nobody to blame. What will they say if the metals collapse? They are really ignorant since they see the entire world only looking at metals. This will be very interesting.

HL

REPLY: Yes. They know absolutely nothing about trading and ignore the fact that the banks have been clipping all markets. They forgot about the LIBOR scandal involving clipping currencies. They were all bullish during the Buffet silver rally. It is a matter of fact that I warned our clients they would double silver, take it to $7 by January, and then crash it again. How many people lost money on that one after listening to their nonsense? They have no respect for people when they preach just one side. They have cheered ever rally, which has been a manipulation, and people have lost their shirts because they never say sell. I even spoke directly with some of these people and they KNEW it was Buffet in 1993 and in 1997. Did they come out and warn people not to buy because it was a manipulation? NO! They are silent on manipulations that go up. Why? Were they getting paid? Why are manipulations only down?

Here is a phone conversation with a dealer back in 1998 concerning the silver “manipulation.” Just ask any of these guys if they EVER warned people about that manipulation when it was so obvious. If they did not, then why? Were they assisting the manipulation? They only report one side when their followers lose money  and blame the banks while pretending they are never wrong. You are supposed to tell people the truth. Why censor it to only one side? Show HOW they warned people that was a fake rally. If they cannot, then they cannot be trusted. I spoke to the people at GATA back then. If they knew, so did everyone else. Why were they silent? Silver rallied when gold declined. I am warning you, those who were silent may have been paid to remain silent. I always provide the Bullish and Bearish Reversals, define a rally and where a decline begins. This is NEVER personal opinion. They hate that. They hate me because I have no problem saying buy or sell. These are markets and they always move in both directions.

It will be very interesting to see who they blame after decades of being wrong. What will be the excuse next time? Perhaps aliens? They are clueless about deflation and negative interest rates. All they ever do is preach one direction and that is not analysis; it is propaganda no different than central bankers saying the economy is still sound in the middle of a panic. They only see the world through the eyes of the metals and since they are not up they must be manipulated. Running stops and goosing closings to elect stops are not systemic manipulation of the trend. But they are like politicians – incapable of admitting error. This is about forecasting the trend – not selling propaganda. This blog will always say up or down – never one direction. We are not selling bullion and we do not even sell advertising and a computer cannot be paid off under the table.