from TF Metals Report:
I’ve been meaning to write about this for a couple of days and this is the first chance I’ve had to get it done.
What set me off was a headline I saw scroll by on ZeroHedge the other night. Some meathead from Deutsche Bank was claiming that “the supercycle move for commodities was over” or some such nonsense. This, of course, caught my eye because:
- I keep hearing that Deutsche Bank continues to teeter on the edge of bankruptcy/insolvency.
- Deutshce Bank is also a major bullion bank and several folks have reported that the April Beatdown was a desperate action, initiated to save a bullion bank from default.
- I think all the Elliott Wave stuff is bullshit and I particularly don’t like the snake oil selling practitioners like Prechter.
At any rate, I couldn’t get the thought out of my head that some might believe that this latest bull market in commodities was kaput. Clearly lots of people do think this though and, no doubt, that is partly the rationale behind all of the hedge fund gold selling.
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