Red Ice News

The Future is the Past

An Economic Takedown? Gold Crashing?
New to Red Ice? Start Here!

An Economic Takedown? Gold Crashing?

By Henrik Palmgren | redice.tv




Is The Takedown Of Gold A Sign That The Entire Global Financial System Is About To Crash?
From: The Economic Collapse

Somebody out there is sure getting prepared for something really big. We have just witnessed a takedown of gold and silver unlike anything that we have witnessed in decades.

On Monday, the price of gold had fallen by more than 10 percent at one point. It shocked investors all over the globe, and overall what we have just seen was the largest two day decline in the price of gold in 30 years. The price of silver dropped even more rapidly on Monday. It was down more than 14 percent at one point. There was an atmosphere of "panic selling" as investors and financial institutions raced to liquidate their holdings of silver and gold.

But was this exactly what someone out there wanted?

As I wrote about the other day, big banks and news outlets all over the world have been boldly proclaiming for weeks that gold is entering a "bear market" and that now is the time for all of us to sell our gold. In particular, Goldman Sachs reportedly told their clients earlier this month that they "recommend initiating a short COMEX gold position".

Was that just a "good guess" on their part, or was something else going on? Were they actually trying to help create a "selling frenzy" that would drive the price of gold much lower?

[...]

Read the full article at: theeconomiccollapseblog.com




The Price of Gold Is Crashing. Here’s Why
By Peter Coy | BusinessWeek

A chart of the crashing price of gold looks like a wedding ring rolling off a table. Gold futures for June delivery closed at $1,361 an ounce on the Comex in New York today, a drop of more than $200 in two sessions. Gold’s fall of 13 percent since April 11 was the biggest two-session decline since 1980.

Why is gold plunging? The most important factor is that global inflation is falling, reducing gold’s value as a hedge against rising prices. Gold bugs who were betting on an outburst of inflation are scrambling to reverse their bets and exit their gold positions at any price.

For consumers struggling to make ends meet, it may seem hard to believe that inflation is falling. But the evidence is clear from JPMorgan Chase’s (JPM) global consumer price index, which covers more than 30 countries that collectively represent more than 90 percent of world economic output.

According to the JPMorgan index, global inflation peaked at 4 percent in 2011 and has fallen steadily since. Global prices in February were up only about 2.5 percent from a year earlier, the bank’s index says.

JPMorgan has two scenarios for what happens next. Its main one is based on a “bottom-up” collection of analysts’ forecasted price trends sector by sector around the world. That shows inflation rising very slightly from its current level for the rest of 2013. In contrast, JPMorgan’s “top-down” analysis, which is prepared by the banks’ economists and takes into account prices of commodity futures contracts, among other factors, shows inflation moving down closer to 2 percent in the second half of 2013.

The headline on JPMorgan’s report: “The slide in global inflation may not be over.”

Joseph Lupton, a senior global economist at JPMorgan Chase, said in an interview that the inflation decline is partly a matter of supply bottlenecks easing, which is a good thing, and demand growth slowing, which is not so good. Lupton said he’s not in the business of forecasting gold prices, which tend to be whipsawed by speculation more than other commodity prices are. Says Lupton: “Gold is an animal in and of itself.”

Last week Goldman Sachs (GS) warned that the retreat in gold was accelerating after the longest rally in nine decades.

“Anybody who did some buying before this big drop is probably in some pain,” Donald Selkin, who helps manage about $3 billion of assets as chief market strategist at National Securities Corp. in New York, told Bloomberg News. “The perception is that gold is not really needed as a safe haven. People are looking at the stock market, and they’re stunned, and there’s no inflation. So people are saying, ‘What do we need gold for?’”

[...]

Read the full article at: businessweek.com




Over 500 Tons Of Paper Gold Sold In Takedown

From: King World News


Whistleblower Andrew Maguire told King World News that more than a stunning 500 tons of paper gold has been sold in today’s takedown in the gold market. Maguire also spoke to KWN about the staggering Chinese physical gold purchases. Below is what Maguire had to say in this remarkable and exclusive interview.

Eric King: “How much paper gold was sold to take this market down, and how much tonnage have the Chinese and others been taking out of the physical market?”

Maguire: “Just since the cross (today) of $1,550 into the (London) fix and the breach of $1,500, we are now looking at in excess of 500 tons of paper gold that’s been sold....

[...]

Read the full article at: kingworldnews.com




Tune into Red Ice Radio:

William Dean A. Garner - Hour 1 - World Control, Gold & The Jesuits

Sterling Seagrave - Hour 1 - The Secret History of Asia & Gold Warriors

Tracy Twyman - Knights Templar, The Banking System, Gold & Sacrifice

John Perkins - An Economic Hitman on Predatory Capitalism & Corporate Monopoly

Comments

We're Hiring

We are looking for a professional video editor, animator and graphics expert that can join us full time to work on our video productions.

Apply

Help Out

Sign up for a membership to support Red Ice. If you want to help advance our efforts further, please:

Donate

Tips

Send us a news tip or a
Guest suggestion

Send Tip

Related News

Goldman Sachs Is Manipulating Gold Prices Right Before Your Eyes
Goldman Sachs Is Manipulating Gold Prices Right Before Your Eyes
Leaves Of Gold: Researchers Find Gold Growing On Eucalyptus Trees
Leaves Of Gold: Researchers Find Gold Growing On Eucalyptus Trees

Archives Pick

Red Ice T-Shirts

Red Ice Radio

3Fourteen

Con Inc., J6 Political Prisoners & The Pedophile Problem
Kim Coulter - Con Inc., J6 Political Prisoners & The Pedophile Problem
Why European Culture, Art and Beauty Matter
Gifts - Why European Culture, Art and Beauty Matter

TV

Laughter: The New Weapon Of The Far-Right
Laughter: The New Weapon Of The Far-Right
London’s Fourth Plinth To Get Fat Black “Everywoman” Statue
London’s Fourth Plinth To Get Fat Black “Everywoman” Statue

RSSYoutubeGoogle+iTunesSoundCloudStitcherTuneIn

Design by Henrik Palmgren © Red Ice Privacy Policy