An Overnight Read

Hang in there tonight. Silver is desperately trying to paint a reverse H&S on the hourly chart. We'll know a lot more by tomorrow. In the meantime...

My Australian buddy, Turdle, just brought this to my attention and I thought it was worthy of publicity here. It comes from this site:
http://babybulltwits.wordpress.com/2011/05/16/ranting-andy-unity-in-common-sense/
To save you time and effort, I've c&p'd it below. I have no idea who "Ranting Andy" is but he's certainly got the right idea. Thanks, Andy, wherever/whoever you are!

Ranting Andy: Unity in Common Sense

RANTING ANDY – As another week of horrific market manipulation concludes, my mind is aflutter with thoughts.  Yes, the Fiat Age is nearing its end, led nose down into hell by the U.S. dollar.  But we know that already.
Yes, gold and silver represent the ONLY successful currencies, and stores of value, in human history.  But we know that already.
Yes, the gold Cartel, which is essentially Washington, Wall Street, and their puppets in London, spend the entirety of their working days (if you call robbery work) manipulating markets in order to maintain a status quo in which they own and rule everything in the Western world.  But we know that already.
And yes, it’s blatantly obvious that these manipulative efforts, particularly suppressing Precious Metals while simultaneously supporting the Dow and U.S. Treasury markets, have taken a quantum leap skyward in recent weeks, starting with the May 1^st SUNDAY NIGHT SILVER MASSACRE. 
Yes, we already know that, and yes we know they did it because gold, silver, and the Euro were all making new all-time highs just as the end of QE2 is planned to end.
Given all this “common knowledge”, which I say facetiously because 99% of Americans haven’t the slightest clue, what is it about this week’s markets that stands out in my mind?  And here’s the answer, yet again: 
Occam’s Razor. 

The simplest explanation is usually the right one, and in this case it couldn’t be more simple.  I have no problem with the aforementioned ignorant 99% not getting it, and frankly most of them never will.  But what irks me more than anything, more than Goldman/Morgan, Paulson/Geithner, Greenspan/Bernanke, and Bush/Obama combined, is the inability of the 1% to consistently unite in their quest to depose the evil and instill the just.
Every day for the past nine years, I have watched my net worth, employment prospects, and sanity get besieged by illegal acts by psychopathic criminals bent on my destruction.  As have my small band of allies that believe gold and silver are the market’s most attractive investments in the world (the only ones I’ve owned during this time, and likely the only ones I’ll ever own).  I haven’t met them all, but feel a strong kinship with these hearty souls, whom as a group have dedicated their lives to not only self-preservation, but helping others to do the same.  I believe the fight for real money is my calling in life, and nothing I’ve ever done comes close to the passion I feel for this issue, particularly as we stand at the precipice of the most earth-shattering currency events in the history of mankind.
It’s bad enough to watch GOVERNMENT COMPUTERS naked short Comex futures, GLD, SLV, and Precious Metal miners all day long (just watch SLW or SLV trade for an hour, and you’ll know what I mean), while fabricated economic statistics, lies, and propaganda are spouted on the TV and internet all-day long.  But to watch so many of the so-called “gold bulls”, for years and years on end, continually shoot their followers in the back with doubletalk, top calling, and, worst of all, FLAWED CHART ANALYSIS, is what puts me over the top.
These people will one day talk about PM manipulation, and the next (usually after an attack occurs, citing “technical damage”) talk about how the “charts have turned bearish”, and if they don’t turn around soon all will be lost, or something of the like.  My favorite such drivel is the type that says “if gold breaks below $1,490, it could fall to $1,460, and if it breaks $1,460 it could fall to $1,420.”  Well DUH!  Of course it could fall to $1,460, or $1,420, or ZERO for that matter.  But then again, it “could” rise to $1,530, or $1,570, or a ZILLLION.
We have been in a gold bull market for eleven years, and likely will be for the rest of our lives.  And the people writing this commentary (many of whom have paid followers) are for the most part highly intelligent believers in the cause.  But for some reason, they refuse to fully grasp what is going on, which in essence is the same battle that has repeated itself for centuries.  And that is the 24/7 SUPPRESSION OF GOLD AND SILVER!  Every time I read them write that gold fell due to “the rising dollar”, “risk trades being turned off”, “economic worries”, or “the swooning stock market”, I realize that perhaps I will never see the day when our “team” for once works together against the evil that is out to destroy us.  Not only is this information completely wrong, and easily refutable (especially because 99% of gold’s declines occur at the same three times of day), but it creates an immense amount of fear to those looking for guidance in a financial world gone mad.
I really don’t want to name some of the most egregious culprits, for fear of making enemies, but there are some very prominent people that still cannot stop looking at their silly little short-term charts, which are all MEANINGLESS IN A RIGGED MARKET, and consequently fear-mongering.  But I do want to single out one such person, whom I have never met, simply because he is so revered as a prophet of some sort.  I have a great deal of respect for Martin Armstrong’s writings, as he is obviously a very bright man.  However, aside from flowery language and his deep knowledge of history, Mr. Armstrong is not writing anything different than I and many other lesser-knowns have been writing for the past decade. 
Surely, someone as knowledgeable about the concept of “money”, and as revered in the PM sector, should be a true champion of the cause, one who can rally the troops in the manner that true leaders such as Sinclair, Sprott, Embry, Turk, Willie, Keiser (Max), Maloney, and Murphy do. 
Surely, by now someone of his caliber has figured out that the gold and silver markets are the most manipulated on earth, just as they ALWAYS HAVE BEEN, and thus if the government can buy stocks all day via the PPT (sorry, the President’s Working Group on Capital Markets”), and T-Bonds all day via the Fed, than they certainly can be naked shorting PAPER gold and silver all day via the Gold Cartel (sorry Ted, Goldman Gary Gensler has NOT done a thing to help us out, and NEVER will!).
But just as my idol Richard Russell refuses to acknowledge that his beloved Dow Theory was rendered USELESS a decade ago by market manipulation, Armstrong refuses to acknowledge that his “Long Term Primary Channel” analysis is equally useless for the same reason.  In fact, the following paragraph from his latest piece, “So you thought the Sovereign Debt Crisis Was Over?” (the conclusion, by the way) is what inspired this article, and states the following about one of his proprietary gold charts:
“Now that we exceeded the top of this channel, it will be the test to fall back to make it support, which lies at $1,227.90 in 2011 and $1,239.30 in 2012 (mathematically calculated).  Technical resistance stands at $2,000.90 in 2011 and $2,037.20 in 2012, with initial support at $1,374.10 in 2011, rising to $1,410.50 in 2012.  So those that think I am long-term bearish by merely saying a retest of support is the next stage to prepare for the big rally, need to understand that this is simply a pattern that unfolds in how markets trade.”
When I read drivel like this, particularly from someone so well educated and versed in history, I tremble with anger.  The fear-mongering this creates among the poor souls desperate for guidance through the Gold Wars is incredibly counter-productive to the cause, which in essence is a real life saga of good versus evil.  Such double talk only reinforces fears the Cartel creates through its daily attacks on gold, silver, and PM shares, and to see it come from ‘gold army leaders’ such as Armstrong (and many others) only makes it worse.
YES, MARTIN, YOU ARE “LONG-TERM BEARISH” (in terms of the average person’s investment horizon and ability to sustain losses to the Gold Cartel)! 
If gold falls to “$1,227.90 in 2011”, that would represent an 18% decline (or 22% from last month’s all-time high of $1,575), which by definition is a BEAR MARKET.  Not to mention, if gold falls to “$1,227.90 in 2011”, silver would likely fall further in percentage terms, perhaps to $25 or so to throw out a round number, which for non-mathematicians represents a 50% decline from April’s all-time high of $50.  And I won’t even broach the topic of how much the HUI would decline if gold falls to “$1,227.90 in 2011”, which would probably wipe out the remaining PM investors that have survived to this point, particularly through the horrific, GOVERNMENT-ENGINEERED PM MASSACRE OF LATE 2008.
Of course, anything in the markets is possible, and certainly gold and silver could decline further.  However, to intimate that gold is likely to dramatically plummet in the current environment is not only ridiculous, but insulting to my intelligence.  Unlike in 2008, when the government was able to attack PMs under the guise of “deflation fears”, today’s environment is much different.  Back then, the Fed and its pathetic puppets in Europe and Japan at least had some ammo left, such as lowering interest rates to zero and promising that printing trillions of dollars, pounds, yen (and other currencies) could fix what was wrong.  However, today all those bullets have been shot, and what we have now is a ZIRP society with massive inflation, rocketing debts and deficits (especially in “King America”), and soaring inflation.  And further declines in the Western economies (which, by the way, will occur with 100% certainty) will only expose the situation more, in other words that the dollar (as well as the pound, Euro, and Yen) will continue to decline against ITEMS OF REAL VALUE under essentially all scenarios. 
The rush to PHYSICAL GOLD AND SILVER, as well as NECESSARY ITEMS such as AGRICULTURAL PRODUCTS, has begun, and will NEVER END until the fiat currencies are destroyed and replaced with REAL MONEY, in other words the re-establishment of a GOLD (and possibly SILVER) STANDARD in the not-so-distant future.
Years ago, I would have been too modest to challenge leaders in my field, but no longer.  I believe I have proven my ability to understand what is going on in the world as well as most (but definitely not all) of my peers in the “gold army”, and if no one else is going to call bulls—t than I will do it, and do it proudly.  My goal is not to make friends in this fight (although I’d certainly like to), but to help as many people as possible to navigate through these shark-infested waters. 
The Precious Metals manipulation this past month escalated from “Phase 1” to “Phase 2”, as my brilliant friend Mike Krieger penned last week, as the Cartel was nearly destroyed by the PHYSICAL SILVER EXPLOSION in late April that led to the aforementioned SUNDAY NIGHT (PAPER) SILVER MASSACRE.  The amount of despicable, illegal acts they will perpetrate in the coming months (such as non-stop margin increases, incessant naked shorting of GLD, SLV, and PM shares, propaganda, falsified economic data, double dealing (such as pretending to end QE2 when in fact they’re still doing it), etc., will only increase dramatically in 2011, I assure you.  The end game is nigh, and this is the last stand by the EVIL EMPIRE to try and stamp you out, and thus maintain the status quo.  They will win some battles, such as they have with this month’s PM bashing, but listen to what I am about to say, and listen carefully: 
No matter what they attempt in the paper markets, they WILL NOT be able to stop the Chinese, Indians, Russians, Arabs, and others from buying every available ounce of gold and silver, and it WILL NOT be at $1,227.90, I assure you!  Technical charts are for free markets, which no longer exist in America.  The America we have grown up with is GONE, and with each passing day its ideals will more rapidly distance themselves from the rear-view window.  The unholy alliance of Washington and its “massas” from Wall Street know the U.S.S. America is going down, and their only goal is to take as much of what’s left (from YOU) before the final bell rings on the dollar.
PROTECT YOURSELF, AND DO IT NOW.  Buy gold, silver, food, and other ITEMS OF REAL VALUE.  These items CANNOT, and WILL NOT, depreciate in value against paper currencies in the coming maelstrom.  I cannot speak for stocks, even PM stocks (although the odds are they will rise), but I can speak with certainty about the value of REAL, PHYSICAL ITEMS such as the aforementioned.
And for those of you writing commentaries to the public about the gold wars, including free articles such as those by Mr. Armstrong and subscription based works by others, PLEASE UNIFY IN THE CAUSE OF THE JUST, AND STOP SCARING YOUR READERS, PARTICULARLY WITH MEANINGLESS TECHNICAL ANALYSIS!