GOLD 0.51% $1,391.7 gold futures

"Implodes" todays USA comment

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    September 10 - Gold $317.60 down $3.40 - Silver $4.55 down 2 cents

    JP Morgan Chase And Friends Bash Gold

    Right on cue, JP Morgan Chase bashed gold. They were the big sellers on Comex and probably instigated the early selling overseas. Gold is now almost $7 off its highs in only a day and ¼ of trading. That is what happens when the U.S. Government (ESF) and fellow cabal members decide they have had enough of gold threatening $330 and want to quiet down newfound excitement about gold investments.

    Meanwhile, all we hear about from our political leaders is how wonderful America is about the way WE do things and that all the rest of the world should be just like us. God forbid. When I grew up, we were all so proud that America was "the land of the free and home of the brave." We have deteriorated so much that we are now the land of the rigged market and the home of the bully.

    Tomorrow will rightfully be a day of solemn remembrance in the U.S. The individual World Trade Center stories from one year ago are heartbreaking. Most financial markets will not open until 11 and it will be a day of reflection. It should also be a day for Americans to come to grips why this happened to us and why there might be more to come. Most have no clue.

    It ought to be time for Americans to begin to understand that partly as a result of our fraudulent and corrupt gold/monetary policy, 2.6 times the amount of people that died in the World Trade Center horror are dying EVERY day in sub-Saharan Africa due to disease and famine problems. EVERY DAY! Those people are too hungry or sick to contemplate. Who is weeping for them?

    Newsweek ran a cover story soon after Sep. 11 with a headline that read something like, "Why Do They Hate Us?" Most Americans have no idea why such good people such as us could engender such enmity in various parts of the world. That is probably because so many Americans are going to World Wrestling Federation events (packed houses), or watching these goofy "reality" shows, which are truly inane. In some ways we have become the land of the brain dead or brainwashed. Fogdom rules the day.

    Meanwhile, back at the bullion bank ranch and at certain political levels, we have implemented financial policies that are economically devastating many countries. They are callous, myopic and foolhardy. Consciously, or sub-consciously, a good number of the citizens of these impoverished nations know the real American deal when it comes to these agendas and hate us for it. This is a simplification. It is not my intent to do an essay on this subject, but these same malignant policies will soon rob Americans of their hard earn savings as our stock markets continue to erode. My countrymen will finally wake up as to what has happened and why, but for many it will be too late. They will want answers, but it will be too late. A substantial portion of their life saving will have disappeared; years of hard work will have gone for naught. Their coming ire will be the norm in our land.

    The Gold Anti-Trust Action Committee has done its best for years to warn the American public what is going on, but the U.S. financial press will not allow us to be heard. Whatever happened to America’s free press? Another cherished American principle bit the dust, gone down the drain in this land of the rigged market. Ironically, I received a call this morning from Moscow from a very respected gold producer CEO. He called to tell me of a big spread in a prestigious Russian magazine that featured significant GATA coverage, naming names, etc. The web address is www.ruspred.ru, but it is in Russian. He was ecstatic. GATA can be heard in Moscow, but not New York or Washington.

    What a revolting state of affairs!

    Comex gold open interest rose sharply yesterday to the tune of 6754 contracts. Funds bought and The Gold Cartel sold. The buyers of the last 3 days are now all losers. The goal of the cabal is to turn gold down again technically and turn these new buyers into sellers. This analysis has been brought your way for 4 years now. It is always the same drill. It is boring, corrupt and sickening.

    If my input is correct, Hung Fat, Dr. No and friends will be all over gold by the end of the week, or early next week, and will take on the cabal once again. The fight will be ferocious. As we all know, the defense of $330 gold by the crooked Gold Cartel is not only to save their humongous gold short positions, but also to keep Morgan’s massive interest rate derivative position from blowing up.

    It is difficult for many in the investment world to even conceive that the government’s main bank could become toast. Those same folk would have said the same about LTCM and Enron years ago. LTCM, with its Nobel prize-winning economists, was the darling of the hedge fund world. Even the Central Bank of Italy invested in LTCM. Enron was regarded by the Forbes and Fortunes, etc, as a brilliantly run U.S. corporation and won a good number of their yearly awards.

    Midas and Café contributors have focused on Morgan for some time now. As it goes, so does The Gold Cartel. The good news for us is that the share price of this devious operation looks very shaky. According to CNBC, the U.S. stock market rallied today due to futures related buying. Wonder who? However, even with the Dow gaining 83, Morgan sank 44 cents, closing at $23.15. It’s market action stinks. There are some in the financial world that say if Morgan’s stock breaks $20, its survival could be at stake. If the Dow breaks hard in the coming weeks, Morgan is going to test $20 for sure. It will be "guts ball" time for their arrogant leaders.

    As mentioned yesterday, this gold sell-off was to be anticipated. Now, it needs to go $320 bid to get back on track.
 
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