Friday, August 5, 2011

Gold Rush 2011: Gold Has Not Had a Single 3% Up Day in Past Decade

Headlines just keep coming from Gold Rush 2011.

*NN-Leyland: Switch from unallocated to allocated gold will rock LBMA. Chinese PAGE will offer delivery for 90d contract.
*Ben Davies: the UK is "possibly in the same situation as Greece"
*Davies expects to see gold hit $2,100 by January
Davies expects the Fed to go for QE3
*John Embry: gold price suppression scheme is "unravelling as we speak" - thinks our fiat currency system is falling apart
*David Tice of the Prudent Bear Fund: we are on the verge of "another extraordinary credit event" - aka, Lehman on steroids
*David Tice: currency event "will change the world"
*Brimelow: M3 abolition. You don't throw the thermometer out unless you want to seriously raise the temperature.
*McShirley: 40% of trading days stop at 1% cap. Only 7 days exceeded 1% in 2011.
*McShirley: Gold has had no days exceeding 3% in this past decade. (if that isn't enough evidence for manipulation I'm not sure what is!)
*McShirley: in 2011 gold has risen 20% without once the PM fix being 1% higher. in 2010 83% of PM-AM fix lower or not 5$ higher.