by Jim Sinclair, JS Mineset:
Paper Gold must cease to function. Manipulation without even a concern to conceal is no longer acceptable. Gold bullion must be emancipated from no gold paper gold. The key to the emancipation of physical gold from paper gold is the warehouse supply held primarily by the COMEX.
This supply of gold has been in a distinct and significant down trend for which under present circumstances there seems little relief. Instead of the manipulation of gold lower stopping physical gold demand, it ignited a volume bull market in physical gold during a price bear phase in paper gold.
The Gold banks can be counted on to see their views as the word of a gold-man god. They still feel physical demand is an aberration that they, being all powerful and mighty, can extinguish by pounding paperless gold anytime it sticks its head up. This time they are so wrong.
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