Gold / Silver Defy Bankers and Move Higher
Gold / Silver Defy Bankers and Move Higher by Rory for The Daily Coin
Sunday evening gold and silver blew higher while the dollar, equities and practically everything else moved lower. The bankers came in, as we said they would, just as the Hong Kong market opened and the banking cartel was able to strip gold of the $30 dollar northerly move. They managed to push silver lower but failed to negate all of the gains and silver finished higher on the day.
William (Bill), let them eat iPads, Dudley, former NewYork Federal Reserve Bank Chairman, just announced the Federal Reserve should make moves to insure that President Trump is not re-elected. Here we were recently told that President Trump was politicizing the Federal Reserve and that was a bad idea for the nation and the economy.
But, but, but….Now that the weaponization is for the communist party, formerly known as the democrat party, well, all bets are off and the Federal Reserve, according to one of the most powerful former members, should be politicized and weaponized against the President. This has been done in the past. There was no grand announcement, like Dudley just made, but the end result was the Great Depression
“In short, according to Friedman and Schwartz, because of institutional changes and misguided doctrines, the banking panics of the Great Contraction were much more severe and widespread than would have normally occurred during a downturn.
Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.” Source
Anyone that has been following our work for any length of time already knows and has a good idea the economy, banking and financial systems are nothing more than an illusion running on the garbage of yesterday. The illusion is wearing off and President Trump has been hastening the bitter end. The Chinese and Russians have been preparing the economies, banking and financial systems to walk away since 2009. Russia was a little behind, from the impact of sanctions, but now that Russia has worked through that impact their economy is far more stable ground. Both nations may actually survive what is coming. Not saying they will, but it’s possible.
Gold and silver have been climbing ever higher for the past two months and this trend is going to continue. With the comments by Bill Dudley earlier today we see both gold and silver not only recovering from any pain inflicted by the banking cabal, but both are now on an accelerated climb northward.
As you can see neither of the precious metals is looking back. The traders are flooding into the market as they believe Dudley’s comments will influence the coming months. We are not sure how Trump is going to react, but rest assured he will respond. When was the last time someone made this type of grandstand against President Trump and he stood idly by? Not going to happen. And besides, he has exposed these charlatans for the political machine they truly are.
Fast forward to today, when in what in retrospect may be seen as a watershed moment in exposing just how “political” the Federal Reserve always has been despite repeated lies by various officials claiming otherwise, none other than former Goldman chief economist and the former head of the NY Fed, Bill Dudley, after looking at the chart above and having realized that the Fed is underwriting Trump’s trade war, made a “modest proposal” in a Bloomberg op-ed in which he advised Powell to take a political stand against enabling Trump’s trade war, and potentially go so far as to push the economy into a recession to prevent Trump from getting reelected!
Echoing what Powell said in his Jackson Hole speech, where he dedicated a section to Trump’s ongoing trade wars, and blaming them for the Fed’s rising inability to interfere in the US economy, Dudley begins with what is a clear political statement, arguing that “Donald Trump’s trade war with China keeps undermining the confidence of businesses and consumers, worsening the economic outlook.”
Let’s not forget what actually happened in 2008 when these criminal Federal Reserve banksters held the U.S. and the world hostage and demanded the take over of the American economy.
As if Henry Paulson hasn’t already set our economy on fire and now he is, basically, saying it may be time for “scorched earth” economic policies to come to the fore. Not only is Henry “there will be tanks in the streets” Paulson saying this, two other monkeys of economic destruction, Ben Bernanke and Tim Geithner, support this notion of more power for the Federal Reserve. from Henry Paulson – We Must Be Prepared to Use Our Authority in Controversial Ways
As we watch, popcorn in hand, we simply add another ounce to the stack, another coin to vault and order another bar to be delivered. This is all exposing gold and silver’s role in our lives, in our world and their true purpose. Protection from deeply corrupt, manipulative politicians that care only for themselves and the power they hold. Gold and silver have always exposed them and we intend on having as much as possible as this whole sinking ship continues to sink.
Here are static charts to document what has just happened. The live charts above, as the static ones below, are courtesy of KitCo.