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Prior dewdrops of wisdom from the illustrious Sage of Wexford
are retained for posterity below:
NEWS FROM THE FRONT, May 31, 2014:
No one, including the audacious Sage, can predict with any certainty
or exactitude when a bear market will end, but the price action in
Gold & Silver suggests one last attempt by the likes of Morgan and
Goldman to wash out the weak longs. There are few "weak longs"
left after almost 3 years of bear market, so they are really just
providing excellent entry points for existing longs to add and new
longs to enter. But rest assured that the Big Boys are working
out of their short positions in this pull-back to be able to pile
into the long side at a moment's notice because a Panic will resume
the Bull at the crack of a whip.
What the vast majority of retail bullion investors fail to grasp at
this junction in the SuperBull Market in both Gold and Silver is
that when price turns it will be swift and violent. This phase
of the Bullion Bull will go exponential in price pattern very
quickly, and investors will find it very difficult to find entry
points not well above what they could have obtained even days prior.
I envision a daily market in the weeks ahead where I cannot handle
the daily call volume without going to the next trading day to fill
orders, and when I do place these orders with my distributors, the
backlog time is going to go to 8 weeks in a heartbeat. When
they do, my distributors will no longer take new orders because that
long a lead-time makes hedging their trades prohibitively expensive
in the futures market. 2008 all over again, BUT WORSE.
So don't think that a bell will be rung, and if it were rung, fat
chance, that you can buy all of the gold and silver that you want at
the drop of a hat. This bullion market is squeezed on supply
even as price has languished. COMEX extinction is coming based
on years and years of price activity in Gold and Silver that does
not reflect true supply fundamentals. EVERY DOG HAS HIS DAY.
Sage of Wexford, going to go fishing if it gets too crazy.
NEWS FROM THE FRONT, July 7, 2014:
Oh, the American Investor goes strolling down the Cheap Money Road,
skipping along with not a care in the world. I hate to be a
party pooper, but this summer is literally the Calm Before The Storm
as the global economy retraces (?, what recovery I ask?) back into
recession and eventual Depression. The human race has never
experienced such a dangerous Monetary Experiment as has been
conducted in tandem by the U.S. Federal Reserve, the ECB, and the
Bank of Japan. Printing Trillions of Dollars of fresh money to
bail out questionable corporate entities, banks of all varieties who
reward the struggling taxpayer with huge banker bonuses, sovereign
states as in Southern Europe, and insolvent governments that
dominate the global map ........ HAS NEVER BEEN TRIED BEFORE
ON SUCH A PERVASIVE AND MASSIVE SCALE.
Let's see: We had a Debt Collapse in
Fall of 2008, so the knuckleheads behind the wheels of the Major
Ships of State, who never even successfully ran a lemonade stand,
decided that MORE DEBT WAS THE ANSWER TO THE PROBLEM.
Try to get your head around another $30 to $40 Trillion of new debt
around the planet since January, 2009, not a significant reduction
that was required to wash out the bad debts from the world's balance
sheets to set the stage for sustainable economic recovery.
Try not to be in a remote part of the world this summer away from
communications lines. With the Middle East on fire partially
thanks to a U.S. President who has to put on a Pampers to conduct
his gutless, wavering, lip-service Foreign Policy ("foreign" to most
historians, in fact!) and with Hitler-esque Putin knocking at the
eastern door of Ukraine, you can expect fireworks this summer well
beyond the Fourth of July we just celebrated here in Denial-Land.
THE RUBBER BAND OF WORLD CONFIDENCE AND LEVERAGE AND SPECULATION IS
STRETCHED SO TIGHT THAT NEWTON'S LAW OF EQUAL AND OPPOSITE FORCES IS
GOING TO CREATE ONE HECK OF AN ECONOMIC AND FINANCIAL SYSTEM
REACTION BEFORE THE SNOW FALLS IN SIBERIA THIS YEAR.
As a 45-year investor myself who will be able to retire on my own
cache of acorns without having to solely feed at the Government
Trough to survive, I rub my grimy little hands together when I hear
that the bearish sentiment around Gold and Silver are at multi-year
highs as the respective metals come off of a multi-quarter base.
Richard Russell a few weeks back just gave a major buy signal for
Gold. THAT IS GOOD ENOUGH FOR ME. When the fence sitters
finally hit the ground running, the Precious Metals Bull will be so
far down the Super Bull PHASE TWO Lane that their spindly little
legs will give out trying to catch it. That is, price will be
much higher than today's relative bargains.
THE SAGE OF WEXFORD STILL STANDS BY HIS
REVELATIONARY PREDICTIONS OF $5000 FOR GOLD AND $160 TO $200 FOR
SILVER. Is the risk-to-reward there to sell some of
those smoldering stocks and bonds and go over to the dark, PHYSICAL
SIDE totally outside of the quaking, quivering global financial
The Sage of Wexford, Irreverent to the End.
Wow, part-time, poor-paying jobs are soaring. Real
north of 23% in the Obama Depression. Yes, he owns the economy
now. George Bush is 5.5 years out of the equation!
NEWS FROM THE FRONT, August 3, 2014:
While we did not get a big rally in the Precious Metals this past
week as the stock market woke up to the fact that the economy is
actually contracting regardless what the 2nd Quarter GDP print
suggested, the metals, both Gold and Silver, held their own quite
well given the rout on Wall Street. The Dow is now negative
for the year while the Metals remain up. Another massive
inventory build and another significant sub-prime auto lending
frenzy once again distorted the real picture of economic decline in
the States. Accomplished analysts such as John Williams of
Shadow Stats fame point to the fact that final revisions to the 2nd
Quarter GDP 4.0% figure ( how convenient for an incumbent
Administration whose party is likely to get clobbered in the
November Elections! ) will likely be reduced to 1.5% to 2.0% when
real-number "truth serum" is administered to the political shills at
the B.E.A., Bureau of Erroneous Assumptions and the B.L.S., Bureau of Labored Statistics. What other Government
department is filled with political shills? ......... Internal
Revenue Service to the shock and dismay of those who faithfully pay
their taxes in full and when due. Welcome to the American version of
Soviet Pravda propaganda known as the nightly news and financial
media, not to mention grossly fudged Government statistics.
There are still plenty of Goldman and Morgan gold and silver short
positions that need unwinding, so these dirt bags use every
opportunity in the bullion markets to whack the price so that they
can get the mega-bonuses come year-end at just about everyone else's
expense. And our illustrious Government is once again asleep
at the switch, favoring the activities of the biggest campaign
contributors over the man-in-the-street one more time. BUT THE
SMART MONEY IS ACCUMULATING THE PRECIOUS METALS AT THIS TIME WHEN
INVESTOR SENTIMENT IS SO BEARISH ON THEM. I think it was one
of the Rothschild's who advised to invest when there was blood in
But the relative resilience of both Gold and Silver is encouraging
for all of us who have grown very weary of the almost 3-year
interim-bear in these two monetary metals well within a Super Bull
Market. Of note, we have hardly thrown in the PM towel in favor of
still-overvalued equities or Government bonds or junk bonds or soon
to be deflated real estate. Since putting money in a bank is a
losing proposition also, not only from a Bank Holiday standpoint but
also from a NEGATIVE RATE OF RETURN reality, it is either cash under
the mattress or adding to Gold and Silver positions even if we have
to put clothespins on our noses when we do so.
One has to look down a very dark road when
making the buy decision in the final consolidation phase of this
multi-year correction in the Precious Metals.
You almost have to think in terms of what will a world in economic
and financial turmoil really look like in the not-so-distant future.
The greatest likelihood of THE COMING COLLAPSE still revolves around
the bubbling cauldron of DEBT DEFAULTS which is swirling from Spain
to China to Argentina in an ever-widening circle. This
CONTAGION EFFECT will prompt many investors around the globe to
think twice about jumping from stocks to bonds as a "safe haven",
BECAUSE DEFAULT RISK MUST NOW BE INCORPORATED IN GREATER AND GREATER
AMOUNTS INTO THE PRICING OF GLOBAL BONDS. And bond yields do
not begin to compensate an investor for this real and growing risk.
As the world economy turns downward once again in Phase Two of the
Greater Depression ( Obama owns it here in the States! ),
governments' abilities to service the $30 to $40 Trillion of new
debt added since the Fall of 2008 is gravely in question and a
VIRTUAL IMPOSSIBILITY. And printing money has now been proven
to be ineffective at best and actually counterproductive and harmful
Buy straw hats in Winter. Buy Gold and Silver now even if you
feel there could be more minor downside in the near-term, because
when the Collapse begins, supply will be way down SINCE THESE ARE
GLOBAL ASSETS and price will be way up. Sounds like a sales
pitch, I know, but how have you done in following my advice for the
last 15 years. Many of my WCM clients will be
multi-millionaires before 2020 when the United States goes
technically in default on its unserviceable $130 Trillion of
obligations. This is a prediction that can only be confirmed
with 20/20 hindsight. I will hopefully still be around to spike the
football at that time, but I will be wearing black at the same time.
The Sage of Wexford, a still patient investor after 45 years in the
game and with 2 nickels to rub together.
Still in major Bull Markets within a one-year
consolidation range that is in the process of being
completed. Think where you would be from a
net-worth standpoint if you had bought them both
in Summer of 2004!!!!! Stocks have returned only
91% since that time when Gold is up over 200%
Silver is up over 190%.
NEWS FROM THE FRONT, September 2, 2014:
It just warms the heart of a bullion
dealer when new bullion exchanges are opening up around the world to
take daily trading volume away from the heavily manipulated U.S.
Comex/Nymex exchange. Corrupt trading practices do not instill
confidence in investors and they vote with their feet and trade
elsewhere. America's dominance in the world is in retreat and
deservedly so in many venues. The smack-down in Gold and
Silver this morning is another example of Morgan and Goldman short
positions being exited, but not before they have made their lucre at
the expense of us not-so-well-heeled and connected investors.
But every dog has his day!
Russia, now overt enemies of the United States on many fronts, are
buying on these "manufactured" dips, and they may even be in the
futures market on the sell- or short-side to temporarily provide
better price points for their bullion acquisition programs to
dislodge the U.S. Dollar as the world's sole reserve currency.
This process of Dollar Subjugation is well underway sportsfans, and
our day in the sun of exporting our inflation to our trading
partners is rapidly coming to an end. We will see our standard
of living Stateside erode further in the years ahead and experience
both higher interest rates and inflation due to this evolving sea
change in Dollar acceptance/preference.
If you do not think the Federal Reserve's unprecedented expansion of
its balance sheet to some $4.4 Trillion will not have consequences,
think again ( please see the rocket ship Money Printing graph below
). Too much money chasing too few goods in an environment of
weakening consumer demand and confidence is the classic recipe for
INFLATION. While we will continue to have outright DEFLATION
IN MANY ASSETS, ESPECIALLY STUDENT, PERSONAL, CORPORATE AND
GOVERNMENT DEBT, as defaults go through the roof in the months and
quarters ahead, we consumers have been and increasingly will be
experiencing 10% inflation as far as the eye can see. Our
Government is lying to us on virtually every front these days, so
all of us need to look elsewhere for the truth on salient monthly
statistics ( John Williams of ShadowStats comes to mind! ).
Now corporate Healthcare Plans are destined for extinction under
ObamaCare's higher premium costs, plus war in the oilfields of the Middle East and Ukraine,
will guarantee economic decline in 2014/15, not to mention the
constraining effects of higher taxes at all
levels due both to the mismanagement
of public resources for some 30 to 40 years now AND revenue
shortfalls as Obama's Depression, Phase II, unfolds before us.
Europe is plainly slipping back into recession, but my argument all
along has been that we never came out of the Greater Depression to
begin with due to grossly understated GDP Deflators since 2007.
Social Security for those of us who have done without new shiny
things each and every year for decades will eventually be withheld
since "we have too much and do not deserve our own payroll taxes
back". ( Means testing will include investment assets, but
good luck with that one, Uncle Sam, since you seem to be incompetent
in just about everything but Defense. Pray to God that ISIS
does not attack the Homeland before O'Bummer has a Plan! ) The Feds
already tax up to 85% of your Social Security benefits if you make a
whopping $34,000 and above in earned income in a given year:
DOUBLE TAXATION WITHOUT REPRESENTATION. A tax on a tax
........ how clever, but we haven't seen anything yet with these
unlawful, self-serving, deceitful Washingtonians! Americans
will eventually take to the streets, and/or escrow their taxes in
the Bank of Singapore until real change comes to this country FOR
THEIR BENEFIT AND NOT THAT OF THE DO-NOTHINGS AND LAW BREAKERS.
Enough ranting. Stay the course and accumulate the Precious
Metals especially on these "engineered" declines; our day in the sun
is just around the next bend. THE FALL IS COMING IN THE
FALL! Sell stocks, bonds, and real estate with both hands,
because their day in the sun is long gone, and the price for waiting
to act will be very painful. Weimar Germany here we come.
Just because the Velocity of Money has been declining since 2000
does not mean that we will not experience hyper-inflation in
critical segments of the American Economy like Food, Utilities,
Healthcare, AND TAXES/FEES.
Remember the truism: "It is always darkest before the dawn".
There is no shortage of Governmental entities that don't want
Americans piling into Gold and Silver and out of financial
instruments denominated in Dollars, and they provide the zero-cost
short-term financing for the smack-downs you have been seeing over
the last year in the Precious Metals. But fundamentals always
eventually overcome the manipulators, and we are increasingly in a
global trading arena for both Gold and Silver, outside of the United
The fundamentals for Gold and Silver HAVE NEVER BEEN BETTER.
Our time is near in a world sinking into financial and economic
decay by the day and at risk of a Black Swan panic at any moment.
NEWS FROM THE FRONT, October 6, 2014:
"Buy when there is blood in the
streets, even if it is your own". So said the Rothschild's so
many moons ago, and we all know how well they did in the global
investment arena, becoming one of the richest families in world
history. I am convinced, along with other bullion analysts who
are probably smarter than I, that the recent 3-week drubbing in the
precious metals has been an orchestrated effort to get the prices
down: 1.) To discourage American investors from exiting Bonds
and Stocks and Dollars and causing a long-overdue meltdown in those
"investments", and 2.) A campaign by countries like China to be able
to move more physical metal to the East (Shanghai Gold Exchange!) at
prices that are just temporarily depressed in order to accelerate
the partial convertibility of the Yuan to both Gold and Silver in
the not-too-distant future. China is getting ready to employ a
nuclear financial weapon against the United States, just as we have
done so against their increasingly tight ally, RUSSIA.
I have been a successful investor for some 45 years now, and I know
an unnatural market when I see one. Granted, the timing of
this capitulation move, shaking Gold and Silver out of WEAK HANDS
into hands that will retain the PM's for decades to come, is telling
for THE TERMINATION PHASE OF THE BEAR MARKET THAT STARTED IN AUGUST,
2011. Now that we are over 3 years plus of this NORMAL
CORRECTIVE PHASE after the post-2000 supercharged bull move in Gold
and Silver, American investor sentiment regarding Gold and Silver is
touted as being extremely and historically weak. The problem I
have with this sentiment reading is that monthly sales of American
Eagle Gold and Silver coins from the U.S. Mint are at very solid and
high levels. So some Americans, still a paltry group of less
than 3% of the investing public, are saying one thing and doing
quite another. Furthermore, Big Money Trades (BMT's) are
coming into WCM over the last 10 days. Smart money knows
when to pick up more of an asset: WHEN JUST ABOUT EVERYONE
ELSE HAS PROCLAIMED THE ASSET AS DEAD MONEY.
Which of a flock of Black Swans will tip the rickety Apple Cart over
in the global economy and financial system: THE SAGE OF
WEXFORD IS BETTING ON A MAJOR DEFAULT TO OCCUR IN THE NEXT FEW WEEKS.
Private-sector China (oxymoron??) is the best candidate, but please don't forget the PIIGS in
Europe. The Central Banksters know that Gold and Silver will
soar upon just one more "incremental" nail in the Confidence of the
Masses, decimated already by a laundry list of current crises, pick
your favorite! Would not be surprised if the New York Fed was
not financing the recent blitzkrieg of short trades with perpetual
overnight money to Morgan & Chase, since Alan Greenspan noted in
1998 that they did everything possible to keep Gold suppressed
during the LTCM debacle that year. (Although few dewdrops of
wisdom have ever left his lips, Alan Greenspan last week stated that
China was wise to convert more and more of its Currency Reserves,
esp. Dollars, into Gold to move the Yuan closer to full
convertibility as a Regional Reserve Currency! WOW. Tell
us the obvious, Alan. No wonder he was knighted by the Queen.)
AND DON'T BELIEVE ALL OF THIS BUNK ABOUT THE DOLLAR GOING TO THE
MOON AND HURTING THE PROSPECTS FOR GOLD AND SILVER. First, 88
on this Yen/Euro dominated index offers formidable resistance.
Second, look at the balance sheet of the United States and tell me
you feel safe with its Medium of Exchange. THEY CALL THIS
DOLLAR STRENGTH WHEN THE DOLLAR HAS BEEN IN ITS OWN BEAR MARKET
SINCE 2002 WHEN GOLD ENTERED ITS NEW SUPER BULL PHASE!!!
Always look at the big picture over the
LONG HAUL as in the hardly bullish U.S. Dollar Index chart below.
AND DEFINITELY BUY BASED ON STRENGTHENING FUNDAMENTALS FIRST,
TECHNICAL'S ARE DOWN THE LIST.
Stay the course by holding and buying Gold and Silver. Sell
stocks, bonds, real estate, the dog, the cat, the canary, the
mistress (yeah, Bill, the mistress!) ...... get liquid and start
buying Gold and Silver with both hands. May seem
counterintuitive after the recent gut-wrenching slide, but you will
be glad you did when the wheels fall off the Global Apple Cart.
History is on our side. PHYSICAL GOLD AND SILVER DEMAND IS
DEFINITELY ON OUR SIDE. THE FUNDAMENTALS ARE WAY ON OUR SIDE.
The Sage of Wexford, locked and loaded.
NEWS FROM THE FRONT, November 1, 2014:
I have never seen markets act so
irrationally. But I have also never seen Zero Interest Rate
Money and money printing to the tune of $3.7 Trillion by the U.S.
Federal Reserve. The fundamentals for the U.S. stock market
are deteriorating due to the cessation of Q.E. by the Fed ( who is
now scared beyond Halloween and will raise rates sooner than the
crowd expects ), all of our trading partners sliding into recession,
and an economy that still can't get off the matt and likely never
has since 2007. If you believe the 3.5% GDP number for the
Third Quarter, I have a bridge to sell you. Go to David
Stockman's erudite website article:
This superb series of Stockman observations
confirms an economy that has no income growth for the consumer
class, high labor-force non-participation, higher taxes &
regulations, surging healthcare premiums under ObamaCare Phase II,
wobbling consumer confidence, and no confidence in Government; and
what U.S. growth is present is in financial asset prices, not
production of goods and services. Mr. Stockman is another lone
voice in the wilderness.
Then the liquidity-drunk Japanese pile more debt onto their severely
compromised balance sheet, and U.S. stocks set new records on
Friday??!!! With a DEBT to GDP ratio of 230% and growing
exponentially while their economy, with a new retail tax burden,
stagnating at best. JAPAN IS SUCH AN IMPORTANT EXPORT MARKET
FOR U.S. GOODS THAT THEIR FLOODING JAPAN WITH NEWLY PRINTED YEN IS
GOING TO BOOST U.S. FINAL SALES. Me thinks not. Another
fine example of Greenspan's famous IRRATIONAL EXUBERANCE in a
financial market that lives on excess liquidity and ZERO cheap money
AND WILL DIE BY THE REVERSALS OF SAME. Retail investors had
better vote with the feet on this one.
The smack-downs in Gold and Silver have nothing to do with
fundamentals, but are just another example of the privileged
commodities traders on the Comex being able to enter massive short
positions in quantities 100's of times over the available bullion
necessary to cover these Naked Shorts with physical metals. I
refer my loyal readers to Adam Hamilton's excellent article on the
activities of the hedge funds in particular of late, a.k.a.,
SPECULATORS, in the following missive:
and how physical demand remains very robust, even
in the face of massive speculative short selling. Friday could
mark a turning point in this frustrating crapola due to the
expiration dates on many of these futures contracts, but we will
see. Interesting that the Silver ETF, SLV, continues to see
physical Silver accumulation, even as the Gold ETF, GLD, sees some
divestment. China, Russia, India, and Singapore are buying physical
gold by the truckload for Currency Reserves, so demand has not waned
as planned, but surged during this temporary attempt by Officialdom
to shake the rest of us Hard Money Stalwarts out of the tree.
Also, this futures smack-down of bullion prices is another ghoulish
attempt to keep the masses headed toward a very unbecoming financial
grave ........ one soon to sprout in ghostly fashion in the Stock
and Bond Markets. Finer minds than mine are sure of this
But one only has to go to the monthly sales data from the U.S. Mint
on American Eagle Gold and Silver Bullion coins to observe that the
free market loving people such as US continue to buy physical
bullion with both hands and feet ........ very reassuring:
So hold onto your hats and gloves, AND BUY THE DEATH-DEFYING DIPS.
What has changed to make either Gold and/or Silver less appealing
than it was this time last week or last year?? Nothing.
In fact, the fundamentals have improved with more debt sloshing
around in the world created out of thin air by central banks and
traditional asset markets teetering on the edge of the precipice
with the landing of even a min-Black Swan.
One last observation before heading out to the hiking trails:
Sir Alan Greenspan, Mr. Bubbles, now says one should sell stocks,
the Fed balance sheet is a tinder box, and to buy Gold. Yikes.
He will now be remembered as the Fed Chair who finally got something
right! And Richard Russell also says to sell stocks and bonds,
and buy physical Gold and Silver. The latter sage has one of
the longest records in American investment history of getting it
right, time after time, market after market. The former sage,
Sir Alan, will eventually be one of the strongest proponents of a
gold-backed Dollar; hence, like Goldman on entering a trade, Sir
Greenspan gives the Green Light to higher Gold prices. This
sage, MOI of Wexford origin, has gotten it right on the long-term
trend of Gold & Silver starting in 1999, and have been a little
wrong on intermediate swiggles ...... but will retire with a smile
and not a Walmart Greeter's apron or running to my mailbox for that
Social Security check every month.
IT IS ALWAYS DARKEST BEFORE THE DAWN. And a financial market
on steroids is eventually, sooner than later, going to give its
gleeful participants and last-nickel-grabbers ...... one heck of a
net-worth hangover. We live in very dangerous times.
Period. Adjust your investing accordingly.
NEWS FROM THE FRONT, December 16, 2014:
As an American citizen for over 65
years now, I am ashamed AND DISGUSTED that my country has become
corrupt at virtually every level of activity. To say that we
have free markets and are an example for the world to follow is
hypocrisy at its worst and self-delusion at its best. The
price activity in the Precious Metals over the last several weeks is
a prime case of those who influence the levers of power in this
country via the campaign contribution box are able to whip both Gold
and Silver back and forth without any regard to fundamental demand
or the standing rules of operation at this soon-to-be-diminished
American trading venue, the Comex/Nymex.
Sales of American Eagle Silver Coins are about to set another
all-time record in 2014, and yet Silver is not trading upwards of
$35 per ounce as that level of demand would suggest.
Eventually, and I hope I am still kicking to see this, the retail
investor will have his or her day in court with Morgan and Goldman
to get some of these Comex traders into orange jumpsuits, and the
derivatives implosion just around the corner will get some of the
executives at these companies into like attire. At some point,
We The People will discover whether the out-of-control Federal
Reserve & U.S. Treasury were supplying zero-cost money and cover to
these manipulators, but one can surmise that suppression of historic
alternatives to fiat currency backed by NOTHING, Gold and Silver the
rising stars, is an age-old strategy that desperate countries employ
to keep their Ponzi Scheme Currency Regime in play. Cream
always rises to the top of the bottle.
STAY THE COURSE is my best
advise today and in the months and years ahead. Convert
financial assets and real estate to tangible assets at every
opportunity, REGARDLESS OF PRICE AND PRICE
TREND. When this puppy turns in the bullion market,
you will need a seatbelt to keep from falling backward out of your
chair. Multiple dollars moves in Silver and $100 plus moves in
Gold will become commonplace. You can
take this prediction to the bank ..... if it is still open.
The record purchases of American Eagle coins is just one indicator
that the SMART MONEY, YOU AND I, see the writing on the wall for
eventual American default on its $130 Trillion and growing in
UNFUNDED LIABILITIES. With the continued hollowing out of the
American Middle-Class under the Obama Dictatorship, a Consumer
Driven Economy ( CDE ) cannot sustain real economic growth when
disposal incomes and job prospects are going in reverse. Us
Silver Headed Sages of the Baby Boomer Generation are also beyond
our greatest consumption years, we are such misers!, so don't look
to us to keep the party going for the U.S. of A.
Russia and China, to name just two major central banks with half a
brain, are accumulating both Gold and Silver as Morgan-Goldman
suppress the price TEMPORARILY to create probably the last
rock-bottom buying opportunity for this century. Have to
wonder if these two lawless entities have trading contracts in
Russian and Chinese. The window of opportunity for buyers is
actually that good, and these American Power Replacements see the
Demise of the Dollar AND American Influence as inevitable
consequences of a Roman-style country following the path of Ancient
Rome with bread and circuses for all. Heck, you don't even
have to have come here legally to have access to the Public
Trough!!!! As a guy who has worked since he was 14, it warms
the cockles of my heart to know that I am supporting illegals who
have such disregard for our laws that one has to wonder what other
laws ( counterfeit documents plus tax compliance?? ) they are
breaking or will break.
Very bad times are a'coming my fellow
Americans. Buy as much Gold and Silver as you
can afford or feel comfortable doing, because Dollar Reserve Status
is going bye-bye as soon as competing Currency Baskets can get
enough transaction volumes to put the Greenback in its proper place.
Oh, and did I mention that we will see Hyper-Inflation before this
Depression is through turning most American investors into Walmart
Greeters. DIG YOUR FINANCIAL FOXHOLE WITH GOLDEN AND SILVERY
Merry Christmas and Happy New Year.
I am a Christian and will defend my fellow Christians by any means
available anywhere in the world. Hear that Barack. When
Christian children are put to the knife by craven barbarians it is
time to unleash the Knights in Kevlar with Night-Vision Goggles.
NEWS FROM THE FRONT, January 14, 2015:
Well, Pilgrim, amazing what a few days
into a new year can do for both Gold and Silver prices! Silver is up
almost 7% since the December 31st close. Here are some of the very
significant tailwinds that are driving prices higher:
1. Commodity prices are collapsing due to a
collapsing Global Economy. They go hand in hand. Derivative
positions in oil-related products especially are going to cause new
bank and company failures anew. Gold and Silver are not in
over-abundance and have seldom been in world history, hence, their
prices per ounce. They are more Monetary Metals than
commodities. Demand is growing by the day, especially now
amongst Americans who are waking up to a more dangerous world every
day. Demand from Russian, China, & India continues at robust
levels, of note at the Central Bank level as well as retail consumer
2. Manipulators such as JP Morgan are distracted by legal payments
over prior misdeeds, and their internal legal department may be
advising JPM bullion traders to cool their heels at their decade's
long manipulative trading in Gold and Silver. The hammer
always speaks louder than the olive branch. Politically, more
scrutiny of these bailed-out banksters will be insisted upon by a
populace/voting public that has yet to recover from bank misdeeds
going back to the 2002 to 2008 period.
3. Stocks are exhibiting all of the classic signs of volume
distribution into weak hands and a major topping pattern
foreshadowing the gruesome end to the ZIRP Money Bull Market of
2009. Looks like 2000 on the S&P 500 will not hold, and much
lower prices are in store for one of the most expensive stock
markets in history. Stock buybacks to keep stocks going up
have added more debt than ever to the balance sheet of Corporate
America, a fact conveniently ignored by the Stock Market
Cheerleaders! The idle cash always touted about is already
spoken for, Pilgrim!!!
4. The U.S. Dollar is also over-extended as the prettiest Witch
amongst a Gaggle of Witches in the foreign currency realm. A
country that has no grasp on its own public spending with $130
Trillion of Unfunded Liabilities, that suffers from political
gridlock and corruption at the highest levels, that has massive
unpayable debt at the Federal, State, Corporate, and Private levels,
and whose economy will not stay positive even with subprime auto
loans going to chipmunks and squirrels WILL NOT ESCAPE THE OBAMA
DEPRESSION, PHASE II. Gold and Silver as the ultimate
currencies will appreciate against the Dollar in the weeks and
months and years ahead regardless of the Greenback's alleged
"advantages against other very compromised national entities".
The Dollar Index can do what it may; the real story is seen in the
Dollar price of Gold and Silver.
5. Cyber attacks by rouge nations and Islamic Terrorists (hey,
Barack, just sound out the words by syllable, Harvard Man!) are
destined to disrupt the U.S. power grid, transportation networks,
payment systems, and consumer plus corporate banking functions in
the not-so-distant future. Having barter, highly liquid assets
such as 1 ounce Gold coins and Silver coins & bars will serve many
Americans well in the dangerous world we live in ....... brought on
partially by Weak or Nonexistent American Leadership. That
last word is an oxymoron for the Liar in Chief.
Stay the course. And if you think bonds of any duration or
maturity are a safe place to invest, I have some very aged Greek or
Venezuelan bonds I would like to sell you. Sovereign Debt
Defaults are just around the corner. MAKE THAT REASON NUMBER
NEWS FROM THE FRONT, February 1, 2015:
While the S&P 500 was on course to
have a negative January performance, down 1.3% in actuality for
January, 2015, the powers that be as embodied in the Fed, Goldman,
and Morgan could not stomach the thought of Gold being up 8% when
hitting $1300 again and Silver being up over 14% when hitting
$18.25. So when the Yelling Fed conveniently announced, tongue
in cheek, of course, that the Money Changers in the Temple were
still on course to raise interest rates around mid-2015, the
rationale for smacking the Precious Metals was provided for the
A smidget of a rate of interest of 1/4 to 1/2% was going to produce
competition for two true monetary metals that had returned over 11%
per annum via Gold over the last 14 years AND over 9% per annum via
Silver over the same lengthy period!! Not every year,
naturally, but on a compound rate of return basis, the mathematical
method that tells the story of what you really have in the end.
Not to mention, there are plenty of analyses on the Web showing that
both metals have done quite well in rising interest rate
environments. So much for smack-down rationale!!
Gold still managed a 5% plus gain for the first month of the year, while
Silver still provided a 6% gain despite the illegal manipulations by
vested interests trying desperately to save the Wealth Effect with
stocks continuing to go north on declining economic fundamentals.
Now that the massaged GDP number for Fourth Quarter, 2014 has been
revised down to a more earthly 2.6% ( I say actually negative along
with other lone voices in the wilderness! ), the stock market has
hit somewhat of a major air pocket that knocks another leg of the
stool out from under it.
A declining U.S. and global economy is not good for already elevated
stock prices, not to mention that Ms. Yellen is threatening to take
away the punchbowl of ZIRP that has just managed to get the party
guests real drunk, but not really helped their overall economic
well-being at all. And that supposedly "strong" Dollar ain't
helping U.S. exporters one bit when selling into the Euro Pit of
Economic Morass or the Sinking Tigers in Southeast Asia or the China
Doll that has more fissures in its porcelain than a Chow dog has
wrinkles. The bloom is off the rose virtually everywhere in
the world, stockholders. Time to head for the exits.
This year will prove to be very volatile in all facets and in all
markets, but keep accumulating both Gold and Silver at every
opportunity. Think about transferring via a Custodian to
Custodian transfer a hefty portion of a retirement account currently
in stocks/bonds to a Precious Metals IRA. I personally have
been using Equity Institutional, formerly Sterling Trust, since 1997
when I first began buying gold. Fees are very reasonable: I
just paid $250 for each of my IRA accounts there for IRA Maintenance
& Storage/Insurance Fees for 2015. Try spending so little for
a taxable bullion account well over $100,000 in value, which can
cost 1.5% per annum for Storage & Insurance alone.
Being in the business, I see backlogs developing again in both gold
and silver products, which is a sure sign of strong and rising
demand for precious metals. The dollar loss in Silver on a
single day will become more commonplace in daily Ag and Au trading,
but most of the movement will be to the UPSIDE. That is my
prediction for 2015: VERY VOLATILE YEAR, BUT GOLD AND SILVER
WILL AGAIN TAKE THEIR PLACES AT THE HEAD OF THE APPRECIATION CLASS.
Sage of Wexford, going where most commentators dare not go.
NEWS FROM THE FRONT, March 8, 2015:
Monday, March 9th price action in the
Precious Metals will be somewhat telling as to whether we have put
in an interim bottom in the Goldman/ Morgan price slams to both Gold
and Silver of late, but I have some time available for expounding on
this sunny March Sunday, so I will do so. Of note, the daily
price movements in Gold, and especially Silver, over the last 2
weeks have been unusual in that some of the price swings/ ranges
have been relatively narrow with daily closes very close to the
prior day, and noticeable recoveries even after multiple percentage
point whacks to back above mid-range on the daily range. Could
it be that Big Brother via the D.O.J. and C.F.T.C. are finally
watching what is going on in the PM trading pits, and the
manipulators don't want to be too obvious as to what they are doing?
Stranger things have happened.
Leave it to regulators to sniff the political winds and realize that
the American public is still piping-hot mad at the U.S. Government
bailing out the greedy, dishonest, self-serving, over-paid, and
brazen banksters ( DID I LEAVE ANY APPROPRIATE ADJECTIVES OUT?!! )
while they get paid nothing on their bank deposits and, as
taxpayers, are still owed money on the bail-out funds that were
supposedly "lent" to these failed institutions. Any talk of a
future "bail-in" of creditors in the upcoming Bernanke/Yellen/Obama
B.Y.O.Financial Collapse (yes, we will give credit where credit is
due!) should realize that there will be such a run on AR-15
ammunition from Mexico and Russia that the Feds will truly see what
a hornets' nest looks and feels like when they attempt to define
"depositors" as "creditors".
Stock and bond investors owning a piece of the failed U.S. banking
system deserve to lose their shirts in this epic event coming their
way, but American depositors will not go quietly into the night when
their pockets are picked for the TWENTIETH TIME IN 7 YEARS.
F.D.I.C. insurance is technically insolvent so don't count on that
"White Knight" to come riding to the rescue with cash in hand.
How about some 5-year to 10-year Non-Marketable Treasuries paying
less than 2% that must be held to maturity instead of your bank
deposit cash?! Yummy. Can't wait. I will take a
German Wheelbarrow full!!
Regardless of the Purveyors' of Financial Toxic Waste from the Fed/
Treasury favored financial markets of stocks and bonds attempts to
discourage physical accumulation of Gold and Silver stateside by
making Year-To-Date gains either negative or barely positive,
respectively, overall U.S. bullion demand stays at very healthy
levels. One cannot just use U.S. Mint sales of Gold and Silver
Eagles as the true barometer of overall demand, because PM buyers
are smart enough to realize that they pay the highest premiums over
melt of any bullion product for the privilege of owning U.S. Mint
products. Kind of defeats the purpose of buying on the cheap
after coordinated New York Fed-financed bullion banks' smack-downs
by paying up for a U.S. Government bullion product. No lack of
equal- to greater-quality bullion products available.
And more telling and despite the activities that masquerade for
price discovery on the Comex, China, India, and Russia are
accumulating both Gold and Silver to allow their currencies to
become part of a regional reserve currency basket when the U.S.
Dollar takes its rightful place in the trash-heap of failed reserve
currencies. Oh, the Greenback is catching a bid right this
moment, but it is only the least ugly Witch in a Gaggle of Witches
known as the World's Failed Fiat Currencies. One can't print
endless sums of an item and expect it to retain value, much less
purchasing power. Without able & honest leadership, devoid of
any fiscal discipline, and waking up to a declining U.S. economy
that is late to the Global Recession of 2015, the United States is
not destined to retain Most Favored Investment Arena for long.
Against other failed currencies, a temporary shooting star.
Against historic stores of value which are true money, Gold &
Silver, an eventual and blatant failure to protect its holders.
The fissures in the Global Economic and Financial System are
widening by the day. Austrian Bad Bank needs an $8 Billion
Bail-In-Out. A Greek Tragedy just kicked down the road for a
few more months, nothing solved and no path to a solution for Greek
Insolvency. The much-ballyhooed Chinese economic engine has
stalled, and Chinese bad debts are in full bloom. Long-term
interest rates are headed North by market fiat, not by Federal
Reserve tinkering. A U.S. Employment Report where the vast
majority of "new jobs" are poorly paying ones, and more and more
Americans drop out of the Labor Force in desperation. One can
almost sense a developing storm that will be devastating to the vast
majority of Americans and the global population at large.
Buy both Gold and Silver while the prices are artificially
suppressed and supply is still available AT ANY COST.
Eventually, Stateside bullion will be as hard to find as a Capable
Fed Chairperson or an Honest Politician. Seems unbelievable,
but who would have thought the world's "leaders" & bureaucrats would
have been so stupid as to add $57 Trillion OF NEW DEBT to The Global
Balance Sheet after the Debt Collapse of 2008!!! Expect the
Unexpected, and invest accordingly.
Sage of Wexford, paying for one-way ticket to Mars, what's to come
DANGER, DANGER WILL ROBINSON, OBAMA ECONOMY RECEDING!
NEWS FROM THE FRONT, April 9, 2015:
It is somewhat maddening to hear the
spinmeisters out of Washington and Wall Street trying to put
lipstick on our Pig of an Economy, but the trend for U.S.
growth is now clearly down, down, down. I get no joy from this
developing fact, since your money and my money was wantonly spent in
the $Trillions over the last 6 years by Uncle Sam and Grandpa FED to
attempt to produce the much-ballyhooed escape velocity that has
turned into Re-Entry Velocity. Bureaucrats have never proven
to be smarter than the free workings of a capitalistic market,
so we should really not be surprised at the utter wasting of a
dwindling American resource: SOLVENCY.
I hereby knight this blossoming DEPRESSION the Obama Depression,
Phase II, because it is about time this skills-challenged head of
state is held responsible for something. BUT MAKE NO MISTAKE,
THIS IS A STRUCTURAL DEPRESSION THAT INITIALLY BEGAN IN 2007 THAT
WILL TAKE SEVERAL DECADES TO EXIT. Fundamentally changing
America he certainly has, and it will take 20 years alone just to
recover from this Harvard man's policies and actions.
Furthermore, and even more directly to blame as political hacks at
the Central Bank level, the Federal Reserve can also take a big bow,
I just wanted to keep the name of the economic disaster we are well
within short and not-so-sweet. You know ..... Name Recognition
since Bush was blamed for everything including measles coming across
our Southern Border.
The Dollar's recent spurt as a Lesser-Evil Currency has run into the
reality of a softening U.S. economy that may not see an interest
rate increase by the recalcitrant/ groin-holding Fed until the Fall,
but it will happen because even real-world-challenged academics can
see the stock and bond and housing bubbles they have blow for the
third time this millennium. Time to tap the brakes as the
cliff is coming up rapidly. Just think how much stronger the
U.S. economy would be today if we all had enjoyed interest income at
5% minimum over the last 6 years??!!!Duh, big time.
The big banks should have been allowed to fail back in 2008, since
there are plenty of regional/local banks solvent and capable of
taking over their deposits net of washed out liabilities. But
the U.S. economy has become a political football that the
apparatchiks in Washington just can't leave alone for a minute, and
we the citizens have suffered mightily because of their utter
Do not be concerned if the Dollar finds its feet again, because
there are many examples of strong Dollar periods in U.S. history
coinciding with strong Gold and Silver prices. The backing and
filling that we have seen over the last several months in the
bullion markets is very indicative of a market where sellers are
being washed out over time, and buyers are coming in on any price
declines. Overall sentiment in the gold and silver markets has
hardly ever been this negative. New bull markets are seldom
formed with a "V" type bottom, but usually from a consolidation
pattern that wrings out the last sellers who of course have sold
toward the bottom in price. Bank of England in 1998 comes to
Large scale gold and silver purchases have been made at WCM to date
in 2015, so I can attest to the fact that the "smart money" is
re-entering this classic/time-tested hedge against utter collapse of
the global financial system as we currently know it. THAT HAS
BEEN MY LONG-TERM FORECAST, but the timing is more imminent today
than it even was in 2005. I forget the exact figure, but the
lever pullers of the world have added some $57 Trillion in new debt
since the Fall of 2008, so this collapse is going to be of record
proportions, scope, and duration.
Gold and Silver will shine in this
catastrophic environment because the citizens of the world will have
totally lost faith in Governments' abilities and fiat currencies to
turn the tide this time around. Confidence has been
waning for some time now, but the Obama Depression, Act II, will
convince the last believers that Government or Central Bank
intervention will not prove effective or lasting to avoid economic
and financial system disaster. Sounds harsh, but that
is what we are faced with at this junction in time.
The East continues to advance as the price setting region for both
Gold and Silver going forward. China has been a leader in this
regard, but I expect Russia and India to continue to accumulate gold
and silver reserves to eventually break away from Western & Dollar
domination on the global financial and international trade stages.
Sanctions against Russia, which I feel are totally justified based
on their annexations over the years, not just in Crimea/Ukraine but
in Georgia as well, have accelerated this process for the Soviet
Union of 2015. I fully expect a blitzkrieg style invasion of
the Baltic States before the Melba Toast in Chief leaves office;
NASA super space diapers on route to the White House for this event.
The Soviets as an enemy of the West are back in full force under
Dictator Putin. Stalin would be proud of him.
Politics aside, we live in a very dangerous world and things are not
getting safer under current leadership around the globe.
Invest as if you are in a WWI trench with mustard gas being hurled
your way. Things are about to get very nasty. Got Gold?
The Sage of Wexford, following the Yellow Brick Road to survival.
The persistence of negative monthly changes AND the dip of the
Change into negative territory virtually guarantee Recession at this
point. Putting lipstick on a pig?
This key element to the "American Dream" is where the American
Balance Sheet is: DEPRESSED FINANCIALLY & Incapable of even
on cheap debt; one still has to pay-off principal, Yellen.
I REST MY CASE.
The ability of Americans to afford a home, even if prices stagnant,
is not improving.
Whoops, retail investors seem to be voting with their feet:
And that is a VOTE OF NO CONFIDENCE in current stock market prices!
The information and
opinions contained within WCM's "News
From The Front" have been compiled or
arrived at from sources believed to be
reliable but no representation or warranty,
express or implied, is made as to their
accuracy or completeness. Neither Wexford
Capital Management, David W. Young or the
Company's agents or assigns accepts any
liability whatsoever for any loss arising
from the use of this free newsletter or its
contents. All periodic "ezine" articles
posted on www.goldsilverbullion.com are
strictly for informational purposes only. No
statement or expression of any opinions
contained within this electronic newsletter
constitutes an offer to buy or sell any
financial securities or surrogates mentioned
herein. Readers are encouraged to conduct
their own research and to perform extensive
due diligence and/or obtain professional
financial advice before making any
investment decision, especially in the
exceptionally volatile asset markets of
today. WCM's Principal, David W. Young
withdrew the Company's Registered Investment
Advisor status with the S.E.C. and the
Virginia Division of Securities in May
of 2005 and no longer offers financial-asset
managed accounts receiving continuous
supervision of assets. WCM's
principal, David W. Young, was a Registered
Investment Advisor in good standing from
October, 1985 to May, 2005.
Furthermore, the company does not engage in
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brokering of tangible assets sales via U.S.
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