Sowas konkretes zum jetzigen Goldgeschehen liest man in keiner deutschen Zeitung!
Auch nicht in einer Wirtschaftszeitung
Die gross Manipulationen der privaten Bank of England zur Rettung ihrer Zöglinge gehen laut James Sinclair weiter, aber höchstwahrscheinlich werden sie nicht von Erfolg gekrönt sein, ist er zumindest überzeugt.
Gruss
SilberEagle
http://www.jsmineset.com/
Posted On: Thursday, May 18, 2006, 3:49:00 PM EST
The "Operations" Continued...
Author: Jim Sinclair
It is a fact this gold market is NOT about gold, but rather copper, zinc and nickel.
The geniuses that trade differences rather than take outright positions (basically the hedge fund geeks) who made so much money over many years trading enormous positions have gone badly wrong on the LME in copper, zinc and nickel. The geeks have once again put a system into financial malfunction and cried to their central bank and treasury to rescue them.
The hedge funds have been the favored borrowers of international and especially British banks. This is due to their supposedly low-risk spread trades and thereupon OTC derivatives. These have gone so badly the LME itself fears the worst. The Exchange Chairman would inform the central bank and the British Treasury of the impending problem, seeking assistance. It is not only the LME that has the problem but all the banks that have lent huge amounts of money to these hedge fund geeks and their “Carry Trade.”
If I were the Chancellor of the Exchequer or the President of the Bank of England it would be much easier to attempt to break the market than put both the LME and the lending banks back together for hedge fund geeks not in the hottest of hot financial water.
What is at risk here is the hedge fund geeks, the exchange, lending banks and the reputation of Great Britain as a financial center.
Now what do we do?
The main item that opposes this tactic is the level of the US dollar. In order to keep the price of gold cold you need to make the dollar hot, not simply wiggle it on the upside. The Fib line the dollar has been rotating around is now acting as a support line and becomes a critical measure. Should it fail to hold the dollar up gold will move up and the BOE will, as they always have, pull out. The gold market can eat any central bank today. Just look at the gold ETFs that are now bigger in gold holdings than the majority of all central banks.
Another measure of how this strategy is working for the BOE will be how the spread between near cash and far copper, zinc and nickel acts. To benefit, the geek hedge funds need the spread difference between near and far to collapse, which is a bearish indicator for copper. If the spread stalls the strategy is in trouble. If the spread moves out then the strategy of pounding gold to avoid an LME crisis fails.
The key to gold’s future is not necessarily gold itself but the action of the US dollar and the spread between near and far on copper, zinc and nickel in London.
We are in a major bull market in gold, copper, zinc and copper which is far from over. The BOE “Save the Bacon” strategy will fail and they will have to liquefy the system, arranging loans to bail out the perps.
The BOE has tried this before and never succeeded as a market manipulator. That is because the BOE has never learned how a consistently successful manipulator works. You can only manipulate a market in the direction it wishes to go. In gold, copper, zinc and nickel that is up, not down.
Gold is going to $1650.
Margin is a financial death wish.
Courage lies in understanding.
Your emotions are always WRONG in gold.
Get a grip and hold that grip