8:34 pm (Hawaii) Back a month or so when JP Morgan proclaimed that gold would go to $2,500/oz, was there any doubt about the tyranny going on "behind the scenes"? Hell yeah they were long gold to protect their asses. They knew Obama was PISSED OFF that they took the bailout trillions and stashed it instead of lending it out. So friggin much for good will. And for Dimon and other CEOs to publicly bitch about the White House and its business philosophy? That took the cake and the whole shit is hitting the banksters' fans.
That's why gold is back to $1,900 from the recent dip to $1,700 so quickly, even with a margin requirement hike. Sure, the CME mafia could play games, but any more margin hikes would be met instantly by heavy buying from India (festival season) and China, not to mention every other central bank in the world. The dollar is withering away, the crooks are long gold (and probably short silver again). Not very likely they can keep gold and silver buried much longer.
None of this should make a sour face on you for long. JPM telegraphs their moves, in hindsight. So does the dollar, ie the economy. So does the Euro. If making profits on AAPL or NFLX or LULU is smiley-face profits, then making profits off physical gold and silver, or especially ultra-bull paper gold (DGP) or silver (AGQ) is angry profit. Nobody wants to see shit hit the fan, not when friends and family have lost jobs, prices keep escalating, and the world dips deeper into recession or worse. But protect we must, and it's all we can do to stay afloat. Survival.
Tonight's move in gold says it all. Think fast, think clearly and survive.
Update 9:14 pm US Mint has frozen sales of First Spouse gold coins. Again. Price was at $1,054 for a half-oz First Spouse, but the mint has listed all of them as "temporarily unavailable." It's the same process they went through before raising price on First Spouse gold coins in recent months, and the American Silver Eagle 1-oz proofs.
What's also interesting is that US Mint jacks price up, but has yet to bring price down on dips in gold and silver. Demand is strong, even ludicrous. It was just a few months ago when First Spouse gold coins (half-oz) were available at $929. I thought that premium was a bit much.