Without question, the least understood, least visible force that affects almost everyone's lives, certainly in the Western world, is that of the elites, the moneychangers, the relative handful that controls everything, from the BIS, IMF, and down to the central bankers. These individuals remain nameless and faceless, but their roots are founded by that widely known banking clan, the Rothschilds.
There has been an increase in the vague awareness of the elites acknowledged as forces that control everything, but by and large, such people are pseudo-intellectually aware, a part of the "crowd" that professes to know more than the average individual [which is an easy accomplishment, anyway], but in effect it is a false sense of awareness because these individuals otherwise lead a similar life to the less informed. Both groups remain a part of the "system," maintaining bank accounts, use of credit cards, registered to vote, in fact registered to do everything to meet the requirements of the system that keeps everyone suppressed.
For as little as we know about the Rothschilds, their banking and social history, the unparalleled financial control they have exerted over the world, how they and the select, chosen moneychanger partners have wielded such utter and unfettered control over everyone's lives is beyond the comprehension even of those within the system. The Jamie Diamonds, Lloyd Blankfeins, and their UK counterparts, while widely known to be in the upper echelons of power, these guys are still very well-paid "gofers" for the elites who will always remain in deep background.
The point is, the level of controls is so great, the level of corruption so pervasive [no laws apply] that the extent of the depth to which control is exerted remains buried, yet this is the part of the [unknown] equation that has influenced the price of gold, probably for the past two-plus centuries, ever since Mayer Amschel Rothschild founded their banking dynasty. No one, absolutely no one has a handle on how the elites operate, or none has a complete picture or understanding of how control is so absolute when it seems so implausible.
Almost everyone else deals with known factors of supply and demand and maintains a fairly healthy compliance for the powers that be: those governments "elected" and those that are installed, unelected, like the EU. Everyone knows that unicorns and mermaids "live" only in one's imagination, and they are never considered are real. Yet, everyone believes in the similar fictions [mostly outright lies] espoused by governments and/or by central bankers, like Draghi, Cameron, ex-Fed chairman, Lying Ben Bernanke, or the layers of unelected bureaucrats like Van Rompuy, Tusk, et al. All heads of States are a given as puppets acting at the behest of the elites and are total liars.
Unless and until people get a grip on the powers that control them, especially in the United States where people naively believe everything they hear and read from the establishment/news media, the elites will have no opposition. Fiat paper will be more "valued" than gold and silver, paper assets like stocks and bonds, retirement accounts will continue to be the go-to form of "asset holding," until the day when the true worth, and there is none, of these paper assets will disappear.
Based on known factors of supply and demand, the easiest and most aware being China and Russia amassing every tonne of gold available, the West being near-depleted and unable to meet any more demand, and add to the mix that the one asset class that does not reflect simple upward adjustments for inflation, gold and silver, we have not seen or read any credible explanation that accounts for the ongoing inexorably lower price path PMs continue to follow.
Failing to accurately "predict" where PMs would be in 2013, similar attempts have been made for the end of 2014, when "much higher prices will prevail." After the end of the 3rd Quarter, all bets are off as to when gold and silver will rebound to higher levels, let alone rise to new highs.
The inability to accurately assess the criminal banking enterprise that controls the global economy, to its detriment, and the impossibility of perceiving the true powers deeply rooted behind those enterprises, will preclude an understanding of the "When" factor, as in when will gold and silver turn? We certainly are with that group that cannot intelligibly articulate when there will be a transition from down to up in the PMs. What has transpired in the past several months has been a surprise, certainly for us.
We have not been hurt by the relentless assail that has driven the price of gold and silver to their current lows, at least in the futures. The advice for the purchase of physical gold and silver has always been to "buy regardless of price." Many may be dismayed, even perturbed over such an unalterable call to keep on buying, keep on "stacking." That cannot be changed, and the fact that one cannot move forward by always looking in a rearview mirror, we continue to stand behind what was said, and we practice what we preach, having paid substantially higher prices for some silver and gold purchases.
The purchases were recommended and made on the belief of a system that is doomed to fail, and not a single nation in the history of man has escaped the inevitable doom of a fiat system. We have always viewed purchases of physical gold and silver as one of the best alternatives to a destructive regime like the United States, and the best antidote to the criminal system run by the elites. That has not and will not change.
We have no clue on when the unavailability of buying physical gold and silver will occur, nor at what price. Could it be another year, or two, or more? Yes, it can. The likelihood diminishes with passing time, but the point of this article is that no one can outguess the sustainability of the power of and control over the entire system the elites have. It has already gone passed the "due date" of most.
The one salient beacon on which to remain transfixed has been the trend, as shown on the charts the many consider bogus, but none offering a viable alternative measure. The elites continue to win the majority of the battles, and so control the war. Things just took a turn for the worst, and there is no turnaround in sight.
Each Quarter-ending, we review charts few ever look at, the annual and Quarterly charts. The longer the time frame, the more controlling and the greater effort it takes to effect a change. For all of 2014, so far, it can be readily seen that any rally attempts have been weak, making no upside retracement progress. How much lower could silver go, based on the annual? The low of the wide range rally of 2010, and that would be the $15 area.
The breaking of support in September is a narrower range bar relative to a similar break of support in the 2nd Q, six bars from the right on the Qtrly chart. Irrespective of where price may find support, the developing market activity shows no sign of bottoming, and the trend will not change until a bottom forms. Time-wise, this does not argue for a near-term turn from down to at least sideways, before going higher.
On the monthly, we give $14.65 as a Last Low Before High [LLBH], an area where price will sometimes return as a retest. That price is close enough to the $15 level from the annual, and one can see a low there on the Qtrly, as well, so it is a price to watch should silver continue lower.
The crux for silver and gold is in the discussion on the weekly chart. Unless and until demand enters the picture, price will continue lower until it finds demand sufficient to effect a change. For right now, there is no demand apparent. It may develop next week, next month, next year, we do not know, but when demand does show up, it will make its presence known.
The daily says just how weak the silver market is. Whenever price goes under the lower support channel line, it is in oversold territory. Look for how long silver has remained oversold, evidencing no ability to rally, none. Here are a few signs to watch as a check on the character of this market. Resistance can now be expected at failed support, the 18.70 area, seen by the thin horizontal line. If the next reaction rally fails to reach that price, and forms a swing high under 18.70, it will leave behind another area of bearish spacing.
Once again, reading the information in present tense, the market gives the most reliable indicators upon which one can rely.
As with silver, annual gold has not rallied very much in 2014. At the same time, the decline has been small, but in a down trend, supply has been proven. It is demand that must meet the burden of proof for change and demonstrate an ability to sustain rallies.
The Qtrly chart could not be any clearer in begging for a lower low under the 1200 area of support. We saw that at the end of last week, after the Qtr ended, but there is no definitive level of support above 1,100.
As shown on the monthly, 1,000 +/- is a logical area of support. Based on the inability of the market to show any kind of support, and knowing Anything Can Happen, that level must be viewed as a possibility, unless or until proven otherwise.
What else can be said. This is like watching a car teetering on the edge of the cliff, waiting to see if/when it falls. The trend is down, and that is all ye need to know.
It is a known fact that we are not big on conventional TLs. Sometimes, they can be used to determine the angle of assent in an up market and descent in a down market. Whenever the angle steepens, it can be an alert for a possible end to that phase of trend. This is a daily chart, the lowest of the time frames considered here, so it is not controlling. It is just another factor to watch as the market develops.
It seems all the news you read has not affected the down trend, at all, when expectations would dictate otherwise. It is the news no one sees that continues to weigh on the PMs, so a diligence in reading the charts remains the best handle, to date. Do not be long any futures is the clear message. Hold all physical purchases as price is nearer the lows than not, and it is strong hands that buy low, weak hands sell. Pick the kind of company you wish to follow.
