UPDATE I: Gold Loves To Be Appreciated
Gold Loves To Be Appreciated by Rory for The Daily Coin
UPDATE I: 9:10am EST – Don’t be surprised to see a smash right here. Look at the live chart and you can see the action is set up perfectly for the cartel to take a big bite out of gold. For whatever reason silver is being ignored and is not displaying the same type of action as gold. Maybe gold is going to be hit while silver, once again, will be muted.
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A few weeks ago President Trump discussed nominating Stephen Moore as a replacement for Jerome Powell as Federal Reserve Chairman. That went over like a lead balloon. Most people didn’t see it as anything more than a test run to see how the media, bankers and corporations would respond. Nothing happened with the exception of Stephen Moore being in the headlines for a couple of days then fading back into the landscape of economics from which he came.
Enter Judy Shelton. We have discussed Ms. Shelton for the past couple of weeks as her name has been floating around in the ether as a possible Federal Reserve nomination. The rumors are now confirmed as not being rumors but are fact. As ZeroHedge reported:
However, the reason why gold is spiking after hours, is that shortly after tweeting the Waller nomination, Trump also confirmed the previously rumored nomination of Judy Shelton to the Fed board:
I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve Judy is a Founding Member of the board of directors of Empower America and has served on the board of directors of Hilton Hotels.
….Judy is a Founding Member of the board of directors of Empower America and has served on the board of directors of Hilton Hotels.
— Donald J. Trump (@realDonaldTrump) July 2, 2019
For those of us who had been wondering why gold and silver continued reaching for the star in the overnight market, wonder no more. Apparently this announcement carries a lot of weight, or at least gold and silver seem to think so.
As you can see in these live charts just after President Trump sent out the tweet making the announcement, both metals responded accordingly. It wasn’t until deep into the Hong Kong market opened that the ascent finally slowed down to catch it’s breath. It will be interesting to see how the cabal working in the Asian markets respond. Will the overnight smack down come around 2:30am? As of now it smells like a beating is in the air.
Here are static charts so we will have a record for future analysis. I’m guessing April through July of 2019 are going to be important in the mid to long term analysis. It seems this time frame is when we will be looking back to see how it all unfolded.
For some reason the cabal has been particularly cruel towards silver all throughout the past month. While gold has been moving up and up and up, silver has been slowly moving to the upside. Not really moving like one would think it should be climbing. Look at the silver chart and you can see the cabal managed to stop the upward flow NY Globex closed for the trading session on July 2, 2019. Why would this happen? This is not normal, natural or anything to do with what would happen. You can see a very slight upward trend that was knocked down at the last minute to ensure that silver would in fact close out below the close on Friday June 28. Why? While golds momentum was not interrupted and continued to higher ground.
My forecast for the coming 18 month timeframe is looking like solid ground from here. If Judy Shelton is nominated the Federal Reserve will get it’s wish of ZIRP / NIRP and endless money printing. Gold bugs will be justified and be holding the only asset with real value.
So why does Trump want Shelton on the board? Simple: she previously said that if appointed, she would lower interest rates to 0% in one to two years. That’s all markets had to known and following the news that Shelton is being nominated to the Fed board, gold spiked $10 from $1,425 to $1,435 in minutes, as Trump’s push for ZIRP (and soon after, NIRP) just took on an added urgency. Source
If this happens and she is nominated I will sell everything and, literally, back up the truck. Got physical close at hand?