It looks like there will be an attempt to cap gold and silver until the election or Kingdom come, whichever comes first. Some days it is hard to tell. The elites of the world seems quite determined to have another go at provoking destruction on a massive scale to escape the ennui of another Great Depression, successfully achieved once again.

I should like to think that the key resistance on the charts is rather obvious, for both gold and silver. Even a dreary fellow like Bernanke can see it, although it appears invisible to certain precious metals analysts, who have a less expansive repertoire of forecasts than the Magic 8 ball. All they can say is 'lower.' A coin flip has a better track record that those knuckleheads. And that in itself should tell you something about their true function in serving their employers.

If the financial cartel does lose control of it here, they will back up to the next higher level and try to hold it even more firmly there. Again the lines of resistance are fairly well established.

While it is possible, if the CFTC actually does its job and reports honestly about the manipulation in the silver market, I will be duly astonished. If they say anything, it is more likely to be a coverup and a series of thinly done excuses for what will some day be known as massive interference with the markets that started from 'good intentions' but just got out of control due to human stupidity and greed.

Stupidity and Greed could be the twin founders of Wall Street, represented by JP Morgan and Goldman Sachs, suckling on the Fed like Romulus and Remus, the mythical founders of ancient Rome.

By Jesse

http://jessescrossroadscafe.blogspot.com

Welcome to Jesse's Café Américain - These are personal observations about the economy and the markets. In plewis

roviding information, we hope this allows you to make your own decisions in an informed manner, even if it is from learning by our mistakes, which are many.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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