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Gold Is Smashed By The Banks / Jim Rickards Is Wrong On SDRs / Stay Away From Minco Silver

Tuesday, July 15, 2014 15:40

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(Before It's News)

TND Guest Contributor: Dave Kranzler |

BRICS establish $100bn bank and currency reserves to cut out Western dominance:

The big launch of the BRICS bank is seen as a first step to break the dominance of the US dollar in global trade, as well as dollar-backed institutions such as the International Monetary Fund (IMF) and the World Bank, both US-based institutions BRICS countries have little influence within.

Here’s the link to the article (note: Bloomberg is misreporting this story – surprise surprise – as being a $50 billion agreement): LINK.

I’ve been saying for quite some time that Jim Rickards was wrong in his persistent and presumptuous insistence that the next reserve currency would be the dollar-dominated IMF SDR…

…Gold was smashed once again by the Comex bank cartel. Once again Doug Casey looks like an idiot with his arrogant and presumptuous insistence that the gold market is not manipulated. It would take an absolute idiot to not see manipulation here, especially given that there not any news or event triggers when gold was flash-crashed AND none of the other related securities markets (stocks, dollar, bonds, commodities) behaved with any degree of volatility when gold was hit (click on graph to enlarge):

Believe it or not, I don’t just publish reports which present the bullish side of junior mining stocks. I was writing a report on Minco Silver and thought it looked interesting on the surface. But when the Company refused to take my calls or even return my voicemails to let me know when they could chat, I took a deeper look at the issues I wanted to have them clarify. Conclusion: red flags everywhere.

Seeking Alpha, unsolicited, published my article in its PRO section, which gives higher paying subscribers to Seeking Alpha a first crack (I did not solicit a PRO designation for the article).

You can read my analysis and why I recommend avoiding Minco Silver (and Minco Gold) here: Minco Silver Doesn’t Pass The Smell Test

I may be wrong, but the risk that I’m not wrong will help anyone avoid the pain of my being right. There’s too many other good ideas out there, like the ones I have posted here: Junior Mining Stock Research.

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About Dave Kranzler

I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics. Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund.