Holidays are always a weak time for PM prices. We are also in the weakest time of year for PM's, i.e. the summer doldrums. So, in my opinion, we will not be out of the woods until the 5th of July. It does not mean we are all clear, as we have the rest of the summer doldrums to deal with. But, if things have fundamentally changed, with respect to the power of the EE, we could see an early start to the typical PM seasonal rally. Last year it started in mid August. This year it should start sooner. When is anyone's guess. But, if they are losing their grip on the market, then it should be sooner than last year. I am hoping the beginning of august should be the start of this years rally in PM's.
I guess we all now know that there appears to be no weakening in the EE's power to manipulate all markets, not just the PM's. It is my understanding that this power was consolidated over the last two and a half centuries. It was carefully, scientifically, and meticulously crafted with the same precision it took to create the first atomic weapon. Concocted in total secrecy over a very long period of time were their diabolical plans carefully laid.
Some have mistakenly believed that one institution, namely JP Morgan, was largely responsible for the manipulation of the silver prices. But, what I think most fail to realize is how integrated the global financial system really is. Turd suggested a great article by James West, entitled Dizzying New Heights of "Global Criminal Enterprise".
http://lewrockwell.com/orig11/west-j2.1.1.html I implore everyone to read this great article, which outlines very succinctly just how pervasive this EE really is. It remains to be seen just if, when, and how this global cabal of criminals will be brought down. But, I am convinced that it begins with each of us extricating ourselves from the "matrix" combined with a mass awakening of the populace to this centuries old "global criminal enterprise".
If you have not read this article, below is an excerpt from it:
Gold and silver, despite being tiny markets in comparison to the derivatives scam they support, are the focus of the cartel apparatus and management for the simple reason that within the performance of the unencumbered gold and silver spot price market, the smoke emanates from the gun in use during the crime. And as everybody knows, where there is smoke, there is, or soon will be, fire.
For now, however, the poor dumb bastards who bought gold and silver, and in a panic, have sold at a loss are now back in the hands of the pro-dollar-anti-gold majority that is the mentally enslaved canon fodder for the cartel. They will see gold and silver rise strongly in the inevitable next leg up of the gold and silver bull market, but they will willfully ignore the evidence of the broader trend, and warn anyone sufficiently naive to listen of the feckless injustice and stupidity of buying gold and silver, and use the example of his own stupidity to prove the veracity of his advice.
Such is the world we live in. Governed by misanthropes and sociopaths, the world economy is on the ropes, and the banking dynasties are in fine form. On August 9, 2010, Goldman Sachs reported to the Financial Crisis Inquiry Commission that 25 to 35 percent of its revenue was from derivatives. Something to keep in mind the next time you see the mainstream financial press publish a story in which Goldman Sachs says "sell" or "buy" commodities.