I must be Complicit in the Suppression of Gold and Silver
There are websites that offer short tests that claim to tell you if you might qualify for Mensa. That's the group for the top 2% of people in IQ. I've never bothered taking the tests. I didn't need to.
When I went through Marine Corps Boot Camp in the fall of 1964 all recruits had to take a general intelligence test called the GCT. My score qualified me for Mensa. I joined many years ago. Actually that's how I met my wife. We were Mensa pen pals for months before we got together. She's smarter than me and doesn't hesitate to remind me.
So when John Embry pronounced on King World News that, "the blatant suppression of gold and silver prices which has been ongoing for decades. . . has become so blatant in recent days that only someone who is very stupid, hopelessly naïve, or in some way complicit, would not acknowledge it."
That must mean I'm complicit in the suppression because I'm probably as smart than John Embry and I'm hardly naïve so what's left?
Then I realized Embry was running a reverse IQ test. He wanted to see if King World News was dumb enough to ignore the fact that silver rising 1150% from 2001 until 2011 was as conclusive a proof as any court would require as beyond a reasonable doubt that silver was certainly NOT suppressed. Or if it was, it was the worst job of suppression in the history of the universe. Silver held one of the greatest rallies in the history of all commodities in that ten year period. Gold was far more "suppressed", only rising 663% from 1999 until September of 2011.
The reverse IQ test continued so all readers could see just how stupid they test and if their memories actually work. Embry continued his rant, "One has to acknowledge the success of their plan up to now, but reality is beginning to intrude and so I expect a violent upward revision in gold and silver prices shortly."
That so reminds me of Bill Murphy and his GOLD DERIVATIVES TIME BOMB that he began warning us of in 1999. Don't bother holding your breath waiting for that explosion. It never happened and never will. He made it up.
Actually silver and gold did explode higher. And the gang of weasels had people so focused on the "suppression" of silver and gold and impending explosion that investors totally missed the very real opportunity for profit when it did explode. You could profit from the explosion only if you ignored the "Experts" such as Embry.
We can get a pretty good idea of what John Embry was saying to his listeners in April of 2011 when silver almost touched $50 an ounce, up from $4 less than ten years earlier. We know that because of a piece I wrote about silver on the day of the high.
What was Eric Sprott, John Embry's partner, doing at exactly the same time I was calling a top in silver? Eric was selling his overpriced silver ETF at a 26% premium and putting the money into physical silver. He pocketed millions of dollars from the fools paying 26% over the price of silver for his ETF. His shareholders on the other hand were out the millions of dollars that he extracted from them.
But who was it that pumped up the Sprott Silver ETF? Well that would be Eric Sprott and John Embry. They did a wonderful job of convincing investors that somehow their ETF was magic. Since gold and silver were suppressed and about to explode higher nothing could be safer than investing in their PSLV. So when I'm saying silver was at a top, (to the day, I remind you) they were extracting millions of dollars from the idiots who believed silver was suppressed all the way from $4 to $50. (and paid $63 an ounce if you bought PSLV from Eric Sprott as he was selling it)
I wrote a follow up article a few days after calling the top in silver in 2011. Most people have forgotten it but I made an interesting point. If you bought the PSLV from Eric Sprott and John Embry when they were selling PSLV to buy physical silver, you were down 44% in ten days. If you just bought plain Jane silver, you were only down 30%.
Was the pumping of the Sprott Silver ETF manipulation? Absolutely! Was it legal? Absolutely. But all financial markets are manipulated. I know that. My readers know that. Don't even try to convince me that John Embry doesn't understand that.
So what do the manipulation/conspiracy clowns do when someone provides them with facts instead of hyperbole?
Simple, they just lie about it.
One of the very best examples I can show you is what Turd Ferguson had to say about half a dozen people who don't believe in the manipulation/conspiracy bullshit.
I'll backtrack here for just a moment. The first time I ever heard the name Turd Ferguson I wondered about the state of mind of his mother and father when they handed him that appellation. How irresponsible do you have to be to name your kid "Turd?" That makes Johnny Cash singing about a boy named Sue look positively rational.
But later I learned it wasn't his parents who named him; I realized that the guy didn't want people to know his real name so he named himself "Turd." I suspect it has something to do with the truth in advertising laws because the quality of both his logic and lack of facts certainly qualify his work as that of a "Turd."
The Turd's tweet is an outright lie. I have read the work of most of those people and other than the fact that they all understand that all financial markets are manipulated none of them have ever taken a position that markets are fair or free.
Saying that gold and silver are suppressed is close to insanity if you can both add and subtract.
Saying that gold and silver are manipulated is noise. It is about as meaningful as saying the sun rises in the East. It's perfectly true all the while perfectly meaningless. But none of those writers have ever suggested that markets are "sacrosanct, free and fair!" You want free and fair markets? Move to Zimbabwe, that's the closest you will come to fair and free markets.
Let's use a little logic and apply facts that are available to anyone. At a small price but true knowledge is worth paying for. In my view, the very best charting guy in the world is Nick Laird who owns Gold Charts R Us.
To say that a commodity is suppressed or that manipulation is meaningful implies that all of the other commodities are not suppressed or manipulated. You have to have a comparison to understand the statement. If corn and wheat go up 50%, is it meaningful that gold goes up 50%? After all the only reason commodities have gone up across the board is because of inflation. If everything goes up the same amount, how can any single commodity be considered suppressed?
I've hoped for years that someone would do a comparison so we could see the relative price increase for commodities in general. And it turns out that Nick Laird did it a long time ago. I spotted a chart that someone used in a piece that came from Gold Charts R Us and realized it was a perfect chart to show the suppression or lack of suppression of gold.
The chart is not an opinion, it's a fact and you can go back as far as 1900 and compare the price increases in eight different metals. Nick Laird offers a three-week trial of his charting service for a tiny $10 and if you want to start making money instead of throwing it away you might want to give it a trial. I believe the data is priceless.
Nick allows a whole series of comparisons for the same eight metals. From 1900 until now, gold went up the most. From 1950 until now, gold went up the most. From 1970, 1980 gold went up the most and from 1990 gold went up the 2nd most. From 2000, 2005, 2007, 2008 gold went up the most. If you would like facts to support the idea that somehow some evil group is suppressing gold, there are none contrary to what John Embry and the rest of the gang of fools have to say.
Only idiots believe gold and silver are suppressed. There is no evidence and the same clowns who said gold and silver were being suppressed all the way up to the highs of 2011 are at it again.
Actually John Embry and I do agree on one thing. Gold and silver are going to go up a lot, they probably will explode. At the top I will say so and at the very top, John Embry will be telling you to buy just as he did from 2001 to 2011.
Let's look at Embry's track record. There are dozens more, all are equally wrong. If you are going to claim to be an expert shouldn't you get at least one prediction right sometime?
October 25, 2010 Gold and Silver commercial signal failure (Actually anyone who has read my book would know that there is no such thing as a commercial signal failure. It's one of the terms that conmen use)
August 6, 2012 Expect squeeze in gold, price headed multiples higher (Gold was $1670, now $1325)
December 10, 2012 This is why silver will smash through $100 (How did that work out for you? Silver was $33.40, now $16.52)
December 31, 2012 The price of silver will go ballistic in 2013 (Silver entered 2013 at $31, ended at $19.50)
January 14, 2013 Silver will soar hundreds of dollars higher (Ho hum!)
January 22, 2013 Gold super spike to be dwarfed by the mania in silver (The gold silver ratio was about 53 ounces of silver to 1 ounce of gold, now it takes 80.5 ounces of silver to buy one ounce of gold)
February 4, 2013 Silver market is nearing a commercial signal failure (Never happened, never will, doesn't exist in the real world)
March 6, 2013 Massive silver short positions to force COMEX default (COMEX can't default but Embry doesn't understand how the commodity markets work so he doesn't know that. Of course it never happened and once again, his listeners got trapped at the high.)
March 11, 2013 I believe global silver stockpiles are now exhausted. (Ted Butler predicted in May of 2001 that the world would totally run out of silver by December of 2001. We know how that turned out.)
People don't vote for politicians because they tell the truth. An honest politician could never get elected. People vote for the politician who does the best job of feeding their fantasies. "Experts" and "Gurus" know there is no money in making correct calls, only in feeding the fantasies of the great unwashed.
I don't mind at all. For all practical purposes, it's a zero sum game and if the fools want to listen to Embry and the Turd, my readers will gladly shuffle the chips over to our side of the table. Their loss is our gain.