By Biiwii
After the now-famous WSJ post, it seemed as if a bottom had just been called in gold…
Let’s Be Honest About Gold: It’s a Pet Rock
It seemed that the elements were in place for a contrarian rally if not bull market bottom. Along with negative gold items routinely appearing in the financial media and a Commitment of Traders structure that had become very bullish, gold sentiment was bleak by indicators we track in NFTRH.
My how a 6% rally with an accompanying stock market down spike have changed things…
Here is the article associated with the video, sent to me yesterday…
Plunge Protection Team Losing Control of Markets -Jim Sinclair
I won’t even go into Sinclair and his ‘same old, same old’ spiel, trotted out the minute the stock market cracked. Let’s just focus on one micro element of a case that implies gold bug sentiment is not yet where it needs to be for a real bullish stance. From the article’s comments section…
Steve (website visitor): “I used to believe in the rampant manipulation of the gold markets until i got proper information and grew up. If Gold is always manipulated to the downside, why buy it?”
Greg Hunter (website host): “Steve you grew up to be an idiot. I got “proper information” from Dr Paul Craig Roberts* who laid out an analytical case for gold manipulation.”
It’s concerning if you are a gold bug, because the bear has apparently not dug deep enough into all the bunkers to devour the most ardent holdouts.
* Above we have “Dr Paul Craig Roberts”. From NFTRH 355 (very coincidentally I was reminded of this by a subscriber this morning):
Have you noticed that the bear and/or gold communities tend to make sure they call John Hussman “Doctor Hussman”, Jim Willie “Doctor Willie”, Robert McHugh “Doctor McHugh”, Chris Martenson “Doctor Martenson” and any other Ph.D. writing about markets “Doctor”, while conveniently forgetting to label the likes of “Doctor Bernanke” as such (“Helicopter Ben”)?
I don’t know about you, but when I am reading articles and I see a writer labeling someone with whom he or she agrees (and with whom they want you to agree) “Doctor” in order to convince the reader of the material’s seriousness or worthiness I think “man, that’s cheesy”.
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