The Phaserl


Could Gold and Silver Go “No Offer?”

by Bill Holter, Miles Franklin:

I have heard, seen and read many accounts that make a mockery of the “to da’ moon” gold and silver pundits. In some cases it is well warranted. For example, anyone who promotes gold or silver to “get obscenely rich” is simply wrong. They say that gold and silver are “going to da’ moon” which in my opinion is highly likely in dollar terms but in reality they are completely wrong. An ounce of gold and silver will always “just be” an ounce of gold or silver, what will have changed is the value of the dollar or any other currency that you are using as a measurement. Actually, even that statement needs to be corrected because it is in fact gold and silver that do the “measuring.” The “to da’ mooners” are wrong because what will happen is that the dollar will plummet in value to the nether regions of hell which means even a simple cup of coffee is going to the moon.

There is however another scenario where the carnival barkers could be correct and we would still have a modest dose of “currency crisis” involved. Gold and silver could go “no offer.” No offer” meaning there is none available for purchase. Impossible you say?

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4 comments to Could Gold and Silver Go “No Offer?”

  • Fred Hayek

    From Jim Comiskey in his interview over at TF metals report, here are the four people at the BIS in charge of their gold manipulation:

    1) Mikael Charoze — FX and gold senior dealer at the BIS. His resume reads “market maker for central banks and international institutions, for all foreign exchange and gold products . . . He is in charge of managing liquidity for big amounts of precious metals, holds and manages proprietary positions on all currencies including gold.”

    2) Prakash Prakash – Deputy head of foreign exchange and gold at the BIS . . . his specialty is foreign exchange, gold, fixed income, central banking

    3) Benoit Gilson – head of foreign exchange and gold at BIS (from his own resume, “I’m very good at trading gold”)

    4) Richard Austin Jones – head of central bank services at the BIS (Basel) . . . with a specialty in making markets for large traders in precious metals and foreign exchange

  • Dissolution

    “the “98 or 99 out of 100″ who currently “think” that they own gold and silver but instead only own paper receipts to nonexistent gold and silver….will be another source of demand that currently doesn’t exist or was thought to have already been satisfied.”

    That’s an excellent point. But I’m somewhat skeptical that anyone playing in the paper markets these days actually still believe that they “own” the real metal.

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