My Dear Friends,
I could be quoting all the developments of the day to you, pointing out the spin, MOPE and outright fabrication of each. I will of course do this, but there is a much bigger story that cannot and will not be reversed. It is set in cement and will unfold exactly as I have outlined to you probably 1000 times in the past 7.5 years.
I have reverted to trying to explain this in cartoons.
It all started with the fraudulent OTC derivative market that did grow to over 1 quadrillion before they changed the computer virtual illusion of price valuation to a humourless “Value to Maturity.” That sick joke of virtual computer valuation assumes full payment and no bankruptcy in the real estate market.
This gave rise to the Formula of 2006. ^[1]
That was because the flush of Lehman Brothers set off a major economic downward spiral with all the rules inherent in such a situation.
There was no intervention as the causal point (OTC Derivatives) therefore neither Has the speed or direction of the downward spiral decelerated? The small pop in economic data had to happen as the trillions entered the system, but in light of what entered, the only real increase was in the pockets of the demonic Banksters.
Now the economy has turned decidedly lower and in all probability will continue to make new lows because there has been no meaningful intervention in the Formula of 2006 which grinds menacingly on.
In this light please review the following three cartoons. The lesson communicated via the three illustrations have an inherent conclusion in reality. Gold will trade at $1650, and due to Currency Induced Cost Push Inflation, my estimate might be flawed on the low side.
Jim