Mon, 19 December 2011
Our weekly discussion with "Ranting" Andy Hoffman continues. The lengths the powers that be continue to stoop to, in an effort to keep the system from blowing up never ceases to amaze. Today, Bank of America was hitting the $5 mark, which has been a clarion call to the elite financial proprietors to do anything necessary to keep the system alive, even if it means destroying investors around the world. When Andy studies the charts, he sees these transparent maneuvers that have been used over and over again. However, now they are becoming less and less useful and are in fact actually counter-productive. It's like trying to catch falling knives, the danger is obvious, but it is hard to get out of the way.
And most importantly, Miles Franklin and every other reputable bullion seller in the world is not getting any opportunity to repurchase bullion from existing customers. This is strictly a one way trade, where the dealers sell their bullion to customers, wherein it disappears into unnamed storage facilities, never again to see the light of day.
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