The Phaserl


Platinum, The Forgotten Precious Metal-Revisited

by Andy Hoffman, Miles Franklin:

My good friend Adam Meister – i.e, the “Bitcoin Meister” of (rapidly increasing) YouTube fame – sagely stated today, “you get rich slowly, and poor quickly” – which goes double for those utilizing traditional valuation metrics in historically manipulated markets. Fortunately, no financial manipulation, throughout the course of history, has ended well; and now that the “custodians” of history’s largest, most destructive fiat Ponzi have reached their ‘trapped rats on a sinking ship’ moment, the “dotcom valuations in a Great Depression” their financial Frankenstein monstrosity has created have put the entire world at the edge of an irreversible abyss.

Fortunately, “value” – like what is present in today’s historically low inflation-adjusted Precious Metal prices; and equally undervalued silver/gold ratio; doesn’t vanish because the powers that be want it to; any more than “pigs” – like the vast majority of Western stock, bond, and real estate markets; or PIIGS – like Italy, Spain, and Greece; can be “beautified” by Central bank monetization, overt or covert. In Precious Metals’ case, the manipulation that has been ongoing for decades has caused exponential demand growth – such as, for instance, a five-fold increase in U.S. Mint Silver Eagle sales from the 2007 pre-financial crisis level; plunging mine supply – as evidenced by consensus forecasts of a 20% gold production decline through 2024; and vanishing above-ground, available-for-sale inventories – per COMEX’s registered inventory plunges of 74% for gold – since September 2011’s “Operation PM Annihilation” raid; and 60% for silver, since the 2008 financial crisis.

This, as money printing has reached an all-time high – at $200 billion per month, excluding “off balance sheet” activities; whilst the average “interest rate” has been taken to around ZERO. Which is probably why the average currency has lost half its purchasing power since the 2008 crisis; whilst debt has parabolically surged; amidst the worst economic conditions of our lifetimes, the greatest cumulative oversupply; and the weakest demographic trends in modern history. Just watch this 14-minute documentary about history’s largest asset bubble – the Chinese “ghost city” experiment – if you want to know why government intervention always ends badly; why we own physical Precious Metals; and why they must protect us in the coming years, no matter how hard the powers that be try to suppress them. I mean, what part of the Zero Hedge headline that just emerged, as I edit, says anything but “buy Precious Metals?”

Blockbuster three-year Treasury auction screams Fed hike is “policy error”

And by “suppress,”, I mean blatancy even I have never witnessed; starting Wednesday, when paper gold was attacked at the 12:00 “cap of last resort,” mere minutes after hitting a new 2017 high, with the key psychological level of $1,300/oz in spitting distance; following the horrifying DOE inventory report that caused crude oil prices to precipitously plunge. Next, on Thursday, 90 minutes after the ECB took Central bank credibility to a new low by “unexpectedly” lowering its inflation forecast – at the Cartel’s “key attack time #1” of 10:00 AM EST, no less – “someone” dumped $4 billion of paper gold on the COMEX (i.e, four times more than its available-for-sale inventory) to push it below its 5½ year trend line, at roughly $1,274/oz.

Followed by Friday – gee, that chart looks eerily like Thursday’s, and countless other “trading” days before it – when gold suddenly plunged at 10:00 AM EST, when the historically overvalued tech stocks finally declined significantly, for the first time in memory. To that end, how can the “Dow Jones Propaganda Average” have risen 70 points, whilst the NASDAQ plunged 113? The answer being, TPTB are so terrified that their historic Ponzi scheme will spectacularly implode, they’ll do anything to stem the tide, no matter how obvious their actions become.

And for those that believe gold declined because of the “shocking” UK election result – which I mocked in great detail Friday – the fact that the Conservative Party lost so many seats had nothing to do with BrExit; which, if anything, is more assured following Thursday’s election result. To the contrary, it was the young people that came out in droves to vote for the Labour Pary – not because they oppose BrExit, but because they are desperate for the greater amounts of “free” entitlements Labour promised, in yet another nation experiencing dotcom valuations – that principally benefit the “1%” – in an increasingly Great Depression Era.

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