by Andrew Hoffman
Miles Franklin
It’s 1:00 AM Saturday morning, and I’m writing this article with limited lighting and just a few hours of sleep. Unfortunately, Giselle’s inability to settle down amidst lightning and thunderstorms has caused me to wake up – and consequently, I figured I’d pen a few thoughts about this week’s historic events – particularly in the Precious Metal markets. And doggone it, “take a bow” for having been so dead on about this year’s events!
To wit, back on May 18th, when the Cartel launched the “Fed Minutes Attack” – by doubling up their historically high gold and silver shorts, under the guise of an awkwardly telegraphed potential June rate hike, I emphatically predicted it would miserably fail, in the longest, most emphatic Audioblog I’ve ever published. Which couldn’t have been more accurate; as following the issuance of the Fed’s most dovish policy statement since the 2008 crisis a mere five weeks later, both gold and silver had surged back to their pre-Fed Minutes Attack levels, whilst the COMEX “Commercials”’ short positions hadn’t been reduced one iota.