I Made $7,000 Shorting Gold Last Week

I Made $7,000 on Shorting Gold

This past week was a scary time on the market. I’m sure a few of you are scratching your heads at that one, since the markets went up and everyone is cracking open the champagne. The scary part is the volatility. Congress is in recess and the movers and shakers [ Goldman Sachs and friends ], are running rampant.

I didn’t get in on the beginning of the nose dive of gold, but i got in about halfway through. I put my sell in for 10 contracts, to short gold. I watched it for a bit, and as my usual habit, got distracted by something else, and didn’t even put in a stop loss. I woke up at around 2 a.m. in a sweat, opened up the market and put my stop limit buy in for 10 contracts. It immediately bought and CHA CHING I made $7,000.00.

Why Did Gold Take a Nose Dive?

It’s easy to see. First of all we saw people trying to put buys in and then huge sell contracts would come in. Also, we saw orders come in, then a 10 cent order would replace it. [ smells like front running ] [ sounds like front running ] [ tastes like front running ] BUT THE SEC ISN’T MOVING ONE MUSCLE.

So what could be the issue? OK the scholarly answer is that, with the Oligarchs of CNBC saying “the recession is over, the recession is over” all the morons are thinking they can do away with their gold, which they bought as a hedge against inflation and the recession.

The real answer is, the price of gold is being suppressed. Well who does that benefit? CHINA, for starters. China is currently on a gold buying frenzy. Why do we care about China buying gold? Oh, I don’t know, they are the only one floating the U.S. dollar at the moment. The least we could do is front their gold buying frenzy. And, what do we care. The U.S. government has more gold than all of the rest of the nations combined [ rest as in the people that actually matter ].

Did you know the world bank put limitations on how much gold could be purchased per year? OH, didn’t know that? Yeah so, even if China were to buy gold at $1 / oz, it would still take them 200 years to equal the U.S.

The problem is, we have the assets, gold, but we don’t back our currency by gold, nor silver. Interestingly enough, silver is actually a rarer commodity, but it’s prices are being suppressed as well. Silver is actually used in industry, unlike gold. Several companies are defaulting on their silver delivery. So as you watch silver prices decline, you can rest 100% sure that someone is manipulating the price. Supply vs Demand rules still apply in the real world don’t they? Why would a declining resource, have its price decline? Absent some mega load find of silver, it’s obvious the price is being manipulated.

And So is Gold.

Do you really think gold should decline when the dollar is hitting new lows for the year? It makes no sense? Oil is going up. Other markets are going up. Why? The declining dollar value.

So the dollar goes down and gold goes down. Does that sound even remotely logical to even the layman investor?

Well, I took advantage of the situation, and shorted gold. How can you fight Goldman Sachs? You can’t really. Unless you’re Lehman Brothers…. OOOOOOoooops.

Check out my legal website: Las Vegas DUI Attorney
See me on YouTube on Shakaama Live

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shakaama

Ex law school student. I was kicked out for revealing I had a heart actually beating inside. I used to be in a modern dance company. I'm working on my 7 miracles to be proclaimed a saint by the pope. #1 is really hard, but once i get over that hump the other 6 will be a cinch.

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