[e-gold-list] RE: Fwd: Re: Markets go red as contagion spreads

[Patrick Chkoreff]

Paul Davis wrote:

>>> I guess, a part of the new liquidity inyected by CBs went into shoriting
> gold on the COMEX. Any other explanation for such behaviour?<<
> 
> I'd like to be able to get comfortable with any explanation that made sense,
> but I can't figure out why any investor, looking at a collapsing
> dollar-denominated market, would choose to short gold.  Seems to me the
> rational move would be to go long!


If that investor had very deep pockets and an extremely high interest in
maintaining the illusion of fiat solvency and souring public sentiment
for gold as a save haven, it might be rational for that investor to
short gold.

I had been expecting gold to go on sale at a large discount by the end
of August, possibly below $600, but I'm not so sure they can pull that
off.  I'm going to wait a bit and hope I can buy at $630, but either way
I'm pulling the trigger.

I have seen a chart of the gold price from 1975 to 1976, and some very
interesting things happened then.  In March of 1975 gold peaked at about
$185.  By September 1976, gold had fallen to $105, a drop of over 40%.

That was the buying opportunity.  After Sep 1976, gold took off and
peaked at $835 in 1980 -- a rise of over 690%.

Thanks to the good folks at Phoenix dollar for providing this chart:

https://www.phoenixdollar.net/art/bull-super-trend.jpg


-- Patrick


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