Thursday’s Gold Uprising

gold 2015-09-24

This week, Sept 25, I’m in Portugal on a semi-vacation/personal business trip so I’m not writing much of anything about companies. But I couldn’t help but comment on the markets, given the rise in the price of gold on Thursday. The equity markets were tanking as well, but it looks like the Plunge Protection Team, which of course is made up of Wall Street’s elite bankers, brought the equity markets back up a long way by the end of the trading session.

But gold hung up there. The big question now is, to what extent do Wall Street thieves like Goldman Sachs have enough gold to keep the con game going a bit longer. Reports suggest London is virtually out of gold to back up demand for taking physical when it is demanded. The con game of course has been to convince hedge fund guys to simply play the gold paper game and never take delivery. But as the world and its bankers’ finances become ever shakier—when the elites talk about doing away with currency and force us into an electronic money regime only because they know the banks are going down again, it may force even Wall Street types to demand physical. And I would suggest the elites among the elite institutions are the first ones to demand delivery while of course leaving lower-level Wall Street folks hanging out to dry.

Because of time differences here in Portugal, I am writing this week’s missive at 11:00 PM on Thursday in Portugal. Based on the past, I would have to believe the action in the gold markets today, with gold gaining around $23, would be followed by a sharp plunge manipulated by the Wall Street bullion bankers. But we shall see. At least from a technical point of view, today’s action has prompted Michael Oliver to increase his exposure to 75% of the maximum amount of gold he wants to own once he is fully convinced the secular bull market in gold is back on track. Certainly today’s action was kind to my Model Portfolio. Time will tell what tomorrow will bring. But longer term, the big lie will be discovered. For the sake of justice if not for our own financial well being, we can hope and pray it is sooner rather than later and the Wall Street thieves get their just desserts.

About Jay Taylor

Jay Taylor is editor of J Taylor's Gold, Energy & Tech Stocks newsletter. His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares. Currently he also hosts his own one-hour weekly radio show Turning Hard Times Into Good Times,” which features high profile guests who discuss leading economic issues of our day. The show also discusses investment opportunities primarily in the precious metals mining sector. He has been a guest on CNBC, Fox, Bloomberg and BNN and many mining conferences.