by Bill Holter, Miles Franklin:
I wrote yesterday of Larry Edelson who says, “Don’t be fooled, this is a suckers rally,” he has also said in the past, “Be ready to move in a moment’s notice as I will tell you when to get back in.” These statements from someone who ultimately believes that gold is going to $5,000 (which I believe is a laughably low number)? I touched on this but I’d like to expand a little.
First off who in their right mind would think that “they” or their “system” is so infallible in the face of today’s structural risk? What if their system tells them to get long at 1 second after the market closes on a Friday…and then something happens? Something like a bank or a derivatives failure? Or some sort of “default” like…COMEX says, “Oops, we cannot deliver?” Remember, I am assuming just “1 second” too late to be able to take action; this one second might as well be a lifetime!
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