Global Gold Manipulation Update - MAP Wave Analysis
Commodities / Gold and Silver 2014 Apr 01, 2014 - 03:55 AM GMTBy: Marc_Horn
This commodity is perhaps the most misunderstood and has the most disinformation spread (with the possible exception of silver).
The most common misconceptions are possibly;
1 - Gold is "real money" - This shows a total lack of understanding of what money actually is, and what gives it value!
Money simply is a medium of exchange where users have confidence that it will retain value and be universally accepted for the exchange of goods and services.
Anyone that thinks it is more than that has a total lack of understanding of what money is! Fiat paper money was used in China over 1000 years ago, and in addition to gold silver, sea shells and cigarettes have been used!
Possibly the best concept of money is that on which bitcoin is based - one where the governments have absolutely NO control over (yes they have their problems BUT it is the innovation and first step towards an electronic cashless society, and in internet business they are already working on third generation node technology which will make the permutations into the billions not only for security but also to make it harder for the government spies (if you really believe the NSA and GCHQ is about terrorism then you really need to get your head out of the sand!) .
For those of you that have taken the time to educate yourselves know that no currency has survived due to the self fulfilling nature of what GOVERNMENT metamorphe into after revolution. Self interest is what Adam Smith called the Invisible Hand: Even in ancient time when gold and silver coins were used the government just like those we have today have reduced the value by making coins smaller and decreasing the PM content. This has not only happened once, but NUMEROUS times which highlights what money actually is and totally invalidates the nonsense that Gold is Money! It is just a commodity like anything else and is only worth what people are prepared to pay for it!
And then we have those that preach that governments will return to a gold standard. The reason they moved off it was so that there is NO ACCOUNTABILITY of their spending! Long before that happens governments will continue to implode from within before accountability is re-established!
2 - Gold retains its value - against what? see 1 above!
3 - Gold is inflation proof - against what currency?
4 - Gold is manipulated - Another observation is the claims that price and volume behaviour reflects the decisions of all market participants to only continue with how central banks and the conspiracy theorists keep manipulating the prices and that the real value of gold is something other than what people are prepared to pay for it! Manipulation is only possibly short term, but NOTHING can be manipulated for extended periods of time. Simply analysts constant claims that manipulation is the reason that prices are not $X thousand need to have their heads examined! The market reflects the price!
If there is any long term manipulation of gold that is carried out by non other than your caring loving governments! There is no way that they will let you hide your money in gold and transport it out of their TAX reach! They have brought in draconian regulation where now even miners and recyclers have to report who they sell what to, and in most countries there are restrictions over the purchase of gold.
All of this nonsense over gold is almost as bad as the nonsense over the FED where conspiracy theories are so numerous highlighting the lack of taking time to educate oneself and spreading unsubstantiated gossip like a bunch of bored housewives! The FED was set up to provide liquidity into PRIVATE bonds when liquidity decreased, and as they needed to physically move cash around they devised the FED. This however got manipulated into the government forcing them to purchase government bonds and now no one really knows other than that they can take over any company they feel like! Why - so the politicians can make more empty promises to the electorate, and just like has happened so many times before the empire will collapse because of the greed, corruption and self interest of politicians!
A lot of this disinformation from so called "experts" has caused a lot of people to lose fortunes including their retirement funds.
Those who like waffle and gossip don't waste your time reading further!
So for those of you that have not read Massive Global Gold Price Manipulation Exposed it will give you an introduction and context to the following analysis.
Gold is still in decline but this correction off the 2011 top will be over no later than June 2017 and could go as low as $400.
MAP Wave Analysis is based on the combination of my modifications of Elliott Waves, Babston's Action and Reaction, and, Andrews Pitchforks, all of which unfortunately are so misapplied. It would appear that they all took their secrets with them to their graves.
Their principles are so simplistic, and being a believer in the KISS principle (Keep It Simple Stupid) I quickly took to them.
To me it was clear though that it was not the result of Newtonian physics, but human behavior!
MAP Wave Analysis gives unemotional high probability projections, BUT ONLY IF YOU USE THE CORRECT PIVOTS!
A good starting point is to speak the same language, so start with the Terminology which you can refer back to whilst going through the Theory. For a quick summary see my first publication The Euro as an Example of my Techniques.
YEARLY: 2014 Support 1058 / 975 / 734 and Resistance 1400 / 1550 / 1708
Unfortunately the data provider does not hold enough history which in today's age is unbelievable with the low cost of data storage! So I have intersected prices and time, and due to time warp as explained in Understanding Fractal Waves and Time Warp, MAP Analysis Part 6 I have shown it on a log scale.
Above I have added in bull and bear periods showing % change as well as duration from tops / bottoms. So we have had a 9 year bull market, followed by a 19 year bear market followed by a 12 year bull market and are currently in the 3rd year of the bear market from the 2011 high, but only 2 years from the 2012 high close.
Below you can see MAP Wave pitchfork analysis, together with the 3 year correction support line and target, as well as the current bull confirmation retest line. Once M-4 is confirmed then the bull confirmation retest line will be updated, and this line will become resistance.
Below I have shown the same chart with Yearly, Quarterly and Monthly support (green TL's) and resistance (red TL's) which are derived from MAP pitchfork's, and removed the remaining lines for simplicity and clarity.
I will be updating smaller scale charts over this week if I can complete migrating the blog to a new hosting~so please check my blog out for latest projections.
Using my MO (Market Oracle front page most read articles) indicator more gold articles are bearish..... so it looks like one more new high before the bulls start to en-mass throw their towels in before gold breaks support to unbelievable lows before it can start base building for new all time highs after 2017
MAP Wave Analysis, unlike Elliot Wave and Andrews Pitchforks, is a systematic methodical rule based approach, details of which can be found either on my blog www.mapwaves.com or here on The Market Oracle and data is archived and updated in a format that is traceable. This allows easy evaluation of MAP Wave Analysis effectiveness when making investment decisions, as well as traceability to improve the methodology.
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