If you were in Zimbabwe or Germany during run up to the Second World War, you would ask the following question at the same time. Am I right or not?
Should I doubt my intuition and beliefs despite the one eyed in the land of the blinds?
The madness of the crowd today is not of the crowd, but of the consortium of central banks world wide and HFT. The overwhelming impact of the influence of the central banks almost makes us believe that they are right with their zero and negative interest rates destroying pensions and the monetary system along the way.
Everything in the past is cancelled. You can read that in Bit Coin and all its family.
The financial powers of today are morally bankrupt, convinced that they are like Nintendo games which can be rigged forever. To remain sane in an utterly insane world makes you look crazy because you don¹t follow the common denominator of thinking and behaving, even if it is completely out of touch with reality. It is a currency event, currencies are at the end of the line of failing asset classes, that will end all this. The currency Goliath will fall to a small stone from a small boys sling as we enter the year of the Jubilee, which is the Nader of the K cycle.
Stay strong and do not take the Matrix pill of illusion. As Sell Em Ben Smith advised Bert in a cryptic way, in 1929, Be Strong because you are right.
It certainly applies to today’s gold market and Bill’s commentary titled “Gold Market Fluctuations Today”.
As you know, I spent my early years in finance as a market maker (specialist) for an average of 35 different companies successfully. Things tend to go to your head as a kid until you get this strange idea that you could never make an error.
Blyth & Co in 1958 had a head trader renowned for his talent. I felt I witnessed some market weakness entering a situation I was a market maker in at that time. I flipped the key on our direct phone wire to Blyth & Co asking for his market on this company. He replied 12 bid 12 1/2 offered (12 to 12 1/2). Being a cocky kid, I offered what was then a considerable block of shares at $12. He bought them all to my surprise. Blyth then asked me if I had any more to sell? I said maybe, but I would be back to him. I knew I was in trouble so I flipped my direct line to Marty McNeill at Vilas and Hickey using him to check Blyth’s market on this item. Marty came back to me with the bad news 12 1/8 to 12 5/8. That was more electric shock that my short was in trouble. Marty did not make this market therefore was not competition to Blyth as I was. I told Marty to cover my short act the market plus 1/8 to him and and take a long position of the same size for me as an agent. Of course by the end of the day it was 14 bid.
Today in gold there was a multi-billion paper sale of gold on the Comex which took gold down only to reverse up and now exceed more than $6 from the low caused by the paper sale of billions in gold in seconds.
This is, in my opinion, a repeat of Blyth’s life lesson to me of trading. Someone bought that multi million offering of paper gold and then continued to buy pushing the price up above the sale prices.
I do not care if there seller was the Fed or King Midas himself. Gold is headed up the magnets to a new high and then higher with of course great drama as only gold can provide.
My Dear Friends,
This illustration was drawn for the last rally in gold and is uniquely correct. It does however provide a warning that trying to maximize profit by waiting for the last magnet can be very difficult. Be that as it may, its accuracy on the bull move was a great assistance to the traders. I intend to expand this illustration to $3500 which, in my opinion, will be the only considerable resistance to the next great gold/currency reset on its way to $50,000 or more.
Keep in mind that each gold bar acts like a magnet putting demand into gold market prior to some sort or reaction. Looks at this as a sort of Fibonacci or momentum indicator. Clearly the inability to rise above a bar followed by a drop back through the previous bar is not good news. The opposite is a reason for celebration by the bull. Bill and I publish this now only because the manipulators have clearly lost their nuclear mojo of previous years, with the bulls asserting themselves in a way not common to the past few years.
Here is a simple message for the gold producer. Why sell gold sat $1058, a key number for Jesse Livermore’s system, instead of in the $2000s, where the price of gold is headed now.
I wish to give credit where credit is due. I wish to thank Monty Guild for finding this illustration in a 1923 edition of the Wall Street Journal.
My birth name was Jesse E Seligman. The rest is a long story based of the courage of my father. He was the greatest of the of lone wolf traders in the business. Bertram J. Seligman was born from the line of David Seligman. The history of the Seligman family can be found in the book titled “Our Crowd”. My father traded like a old master painted and acquired control of businesses along the line of Thermo King, Hayloid Xerox, Inflight Motion Pictures, The Pink Sheets with the Walker Brothers and multiple others. He worked during his career with Jesse Livermore and was an partner of old man Kennedy before he headed the SEC.
Gold and silver will be the last men standing.
The $2025 Gold Magnet’s Math
You could solve this by factoring:
(maybe at this point we recognize 81=92, but let’s continue pretending we don’t)
and we have completely factored the given value.
Group the factoring in pairs of equal value:
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Due to a family emergency, Bill will not have another article out until next week. The weekly discussion will not be done and posted until Monday or Tuesday. Thank you for your understanding.
Please check out the below video of one Bill and Jim’s weekly discussions posted on the JSMineset Gold Premium site (usually reserved for subscribers). It included discussion of the “why” of Monday’s attempt to hold a “Go to Meeting” review of the AGM (which was held on “Go to Meeting” Friday) when unfortunately, the trolls took over.
Dear TRX/TNX Shareholders,
Thank you for your cooperation during our “Go To Meeting” call today. It was my desire to have the call be available to the most shareholders. Since most shareholders work Monday to Friday, this meant having the meeting on a Saturday at a reasonable time. This day and time precluded the availability of the technical support which was obviously needed. For those who participated, my sincere appreciation.
I look forward to meeting with you again under more desirable technical circumstances on Monday. Your questions have been noted. Enjoy the remainder of your weekend, and again, thank you for the time we shared.
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