KWN Source – Gold Will Move $150 Higher Within 5 Weeks

Posted: December 10, 2010 in Current Events, Gold, Precious Metals, Silver

Eric King has great insight on gold and silver. On his blog Eric King quotes his source out of London who said this dip in gold and silver has been met with massive buying out of Asia. We have discussed this topic many times on this blog.  Wealthy buyers are backing up the truck on any gold and silver dip. At this point the manipulators are doing themselves no favors by knocking down gold and silver paper prices. Eric’s London source stated, “A bunch of the weak hands are now on the short side of this market. We are very close to a floor because of the massive Asian buying. People have to remember these Asian buyers are now controlling the gold and silver markets, it is not the little guy.”

Eric’s London source continues:

“It’s all about the bond auctions, the bond fell off a cliff.  In the derivatives market you’ve got JP Morgan playing the bond market at the behest of the Fed, going long 30 years versus selling short-term paper.  They buy 30 year paper and then immediately hedge themselves by selling the 30, 60 and 90 day paper.  It’s how they keep interest rates down, it’s how you do it. 

The only reason interest rates are not in double digits in the US is because of this game.  These guys are short front month paper.  If this (the bond market) actually fell much longer, JP Morgan could be wiped out, I mean they would be liquidated.  The Fed cannot allow them to do that.  We’re witnessing history here.

 Money flowing out of bonds is going into precious metals.  So what they are doing is trying to paint the tape and make it look like a double-top in gold, with silver also retreating.  Open interest went up into the decline, this is a gift (the decline).  Asian buyers are laughing, we’re like a cartoon to them.  They cannot believe how orchestrated this is.”   

JP Morgan and the Federal Reserve are one in the same.  JP Morgan helped create the Fed and is still heavily involved.  What we have is the Fed is scared sh*tless that the bond market is in utter freefall.  The Fed is trying to keep their fraud running while creating an illusion that everything is fine. It is becoming incredibly obvious that what we are seeing is pure desperation in hopes their house of cards holds. 

When asked about gold specifically Eric’s source says the following with complete confidence:

“As far as the gold market is concerned, gold will be $150 higher from here within five weeks.”

The next time we see gold and silver paper prices get hammered utilize that dip and buy.  Think of gold and silver as a beach ball in a pool, every time you push the beachball down it bounces right back up.  This is a bull market, have courage and hold on for the ride.  The bubble is the dollar and treasuries not gold and silver.

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  1. […] Survival, Gold, Precious Metals, Silver 0 As I have said in the past billionaires out of Asia are backing up the truck and loading it with gold and silver on any pullback.  During the recent […]

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