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Tuesday, February 28, 2017

Blast from the past

I thought I would give grief to someone other than Gary Savage, especially since Gary is doing such a good job making a royal ass of himself.

No, the dodo I am going to focus on is Andrew Maguire. In 2013, Gold crashed. Peak to trough, Gold fell 16% in 3 days.

Quite astounding to say the least. This came on the heels of Andrew Maguire saying that bullion banks were desperate and they were going to lose this fight. He even wrote an article which went into great depths on this price suppression mechanism.

However with the price a good 25% lower than when he wrote the report above, Andrew said “that the crash is solely in the paper gold market … and that there is actually a shortage of physical gold.” Yep. How about I fucked up and I have no clue. Nope. Let's tell everyone that the price is completely wrong and there is a massive shortage of pet rocks. 

In fact the shortage was so fucking intense, that 30 months later the price was another 25% lower. Deep stuff. I shit you not, Gold bugs must have a low double digit IQ to believe people who are so wrong all the time. 

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