Today one of the greats in the business said, “what we’re seeing now is a sign of desperation on the part of the shorts in various markets.”
March 19 (King World News) – Eric King: “James, gold and silver weakened this week because of the paper markets. I know you had seen the report we put out from Alasdair Macleod showing the bullion banks were all-time record short the gold market (once again). That type of action (naked short selling driving price lower) is all being created in the paper market, not in the physical market. Where does that lead us because in the nickel market we already saw that blow up on them?”
Signs Of Desperation By The Shorts
James Turk: “Yeah, Eric, and what’s important at the end of the day is what’s happening in the physical market because you cannot create physical gold or physical silver out of thin air. You can create all the paper you want out of thin air but it doesn’t mean anything because when push comes to shove and people start to worry about their purchasing power they want tangible assets, they don’t want (paper) promises.
And I think what we’re seeing now is a sign of desperation on the part of the shorts in various markets. There was an interesting article in Bloomberg news today that caught my attention. It said that ‘Major commodity markets are beginning to seize up.’ That’s an exact quote of what they said. This does parallel other periods that I’ve seen in the past where there is tremendous uncertainty…to continue listening to James Turk discuss commodity markets seizing up as well as the gold, silver, mining share, and commodity markets CLICK HERE OR ON THE IMAGE BELOW.
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