Friday, May 6, 2011
Gold & Silver get thrown under the bus to rescue the US$
Another day, another London and New York trading session where Gold & Silver (and Oil) get hammered down in a massive short squeeze rally in the US$. Whilst many talk about shorts in the silver market, the recent shorting of US$ as it was heading for a near death experience of below 72 on the USD Index was many multiples of anything ongoing in Silver & Gold.
Many analysts have suggested that whilst Obama's popularity may have experienced a boost with the killing of some frozen Saudi Arabian, Obama and Clinton are certainly all smiles over the murder of Tim, the real reason for the thawing out Tim was to save the US$ from the pits of Hell. As a result anyone on the short side of 72 on the USD Index have been cluster bombed for days on end as the index has risen back above 74. Also those traders long the Aussie$ over the $1.10 mark must be hurting with the AUD going below $1.06 overnight.
~ Background: Why do I refer to Osama Bin Laden as Tim.
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