Friday 15 June 2012

The casino is crooked!..............from Rico

I guess the BIS (Bank of International Settlements), JPM's precious metals desk (the house of Dimon), and the ESF (Exchange Stabilization Fund) had a very 'busy' day today playing whack-a-mole with precious metals.
- Pretty 'classic' paper metal vs. physical metal market action today, and as the Fed and friends become inceasingly desperate to defend the ever-increasing pile of devalued paper fiat lovingly known as FRN's (Federal Reserve Notes, a.k.a. "I promise to pay you on demand...er, nothing" notes), it could get more violent before the dam finally breaks and the paper price-suppression/spot futures manipulation scheme goes kablooey!!

Note:
Just because I hate 'coincidences'...the unmanipulated Gold Spot price on the COMEX managed to close at the exact same price as it did yesterday...$1619.40...when has this happened before? With a respectful nod to the movie "Casablanca" 'I'm shocked, SHOCKED to hear there is gambling going here! '[Thanks for handing me my winnings, Blythe!]
- Now tell me with a straight face this game is NOT rigged Monsieur Croupier!!!

And it's really tough work, you know, trying to give any credence or legitimacy to the Berkshire Boys (Warren Buffet and Charlie Munger) who in their senile dementia pooh-pooh Gold whenever near a microphone or a reporter, so I guess they feel it's only 'fair' they be compensated for their efforts, eh?
- Look at Berkshire's performance vs. Gold's on the attached chart and decide if these fellows are past their 'use-by' date for yourself. Does anyone seriously still 'listen' to these guys? (The Red Shed, formerly known as the White House excepted, naturally).

Meanwhile, back in Zimbabwe, it's time to go grocery shopping with paper money.
- If you do not presently have a wheelbarrow, I'd suggest you get one most ricky-tick (unless you are positioned already in precious metals).





1 comment:

Lola said...

Is that graph showing total return for BH - That is stock price with dividend income re-invested?