Thursday, September 29, 2011
Bob Chapman : something bad is going on because they attacked gold and silver and commodities as well and they were only partially successful because the downside was not that heavy , people in Europe told me that this vote by the Bundestag , may go against them , the heat that is coming from the people is enormous
India is one of the major Gold consumer in the world , especially during the Diwali celebrations where gold is offered as gift . As the major religious festival season of Diwali begins in India, the buying of gold and silver as gifts is a common practice. It is potentially a boom time for businesses across the board, with presents such as necklaces and bracelets traditionally bought and given to friends and family. But the recent dramatic increases in price of both metals is making it difficult for many Indians to be as generous as they might want to be. After hitting a high of $1,900 an ounce in early September, the price of gold has fallen to just above $1,500. European policymakers are struggling to resolve the region's debt crisis, and such fears would normally drive the price of gold higher. But with the commodity already at such lofty heights, many investors now feel the only really safe bet is cash itself, and hence the selling.
Bob Chapman : 5 banks control 94 percent of all derivatives most of them are CDS Credit Default Swaps , but out of that total 85 percent or 80 percent is owned by JPM , If he derivative market goes down JPM is history easily , the whole thing is a scam absolute scam even the options market is a scam , anybody that goes into options is out their mind , there is no way you could be a winner , do not trade the market I was a professional trader for 25 years listen to me you are going to lose you do not stand a chance , markets are not scientific