The burned hand teaches................from Rico

Watching the obvious and blatant monkey-hammering of the precious metals (Gold and Silver) on the CRIMEX....er, COMEX this week one might be unaware that the unbacked-paper games [read: naked shorts] being played in Chicago to manipulate 'spot' prices downward don't matter much to a number of sovereign nations.

- In fact, almost everyone but the insider option traders of CME's paper market are ignoring said shenanigans.

 

There are no Chinese buyers this week...and no Chinese market...because the entire country is closed to celebrate their annual "Golden Week" holiday, which makes the orchestration of drive-by paper raids on the metals possible in Chicago.

- The Chinese return from holiday and are open for business again on 09 October. Watch the precious metals price action after that.

 

It's not just the Chinese who value Gold, we all know the Russians and the Indians do, too.

- But those 'conservative' Germans are demanding Gold at a pace that outstrips the Chinese.

 

Surpised? You should not be.

- The Germans have had some very unhappy experiences with inflation and valueless/worthless fiat currency, and they remember those hard, unpleasant, lessons quite well.