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Eurosceptic coalition in Italy agrees on new bid for government.. and Silver/Gold


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Mar 28, 2010
Eurosceptic coalition in Italy agrees on new bid for government
Published time: 31 May, 2018 18:23
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Former senior International Monetary Fund (IMF) official Carlo Cottarelli arrives to talk to the media after a meeting with Italy's President Sergio Mattarella at the Quirinal Palace in Rome, Italy, May 31, 2018. / Reuters

Italian anti-establishment parties that won the latest general election have reached an agreement for a new bid to form a coalition government, averting the possibility of new snap election.

Former International Monetary Fund official Carlo Cottarelli, who was appointed by President Mattarella as interim head of the government potentially leading Italy to new election, has formally gave up his mandate after the success of the talks was announced.

“All the conditions have been fulfilled for a political, 5-Star and League government,” 5-Star chief Di Maio and League leader Salvini said in a joint statement on Thursday. The two parties, which lie on the opposite sides of the left-right political spectrum, negotiated revival of their coalition for several hours.

The new bid for the cabinet keeps Giuseppe Conte, a law professor close to 5-Star as proposed Prime Minister. Paolo Savona, whose candidacy for the position of the economy minister was vetoed by President Sergio Mattarella earlier this week, is no longer on the list. He was replaced in the proposed government by Giovanni Tria, an economy professor at Rome’s Tor Vergata University, according to Reuters. Tria is a Eurosceptic, but he didn’t argue for a possible withdrawal of Italy from the euro zone, which was the reason for Savona being blocked.

“Maybe finally we have made it, after so many obstacles, attacks, threats and lies,” Salvini said on Facebook shortly after the deal was announced.

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There are no two ways around it. The Gold Cartel has put the gold/silver markets in lockdown. Due to the flap over the turmoil in Italy, the gold price held up very well despite the weakness of the dollar/euro. The setup was all there for gold to make a substantial move to the upside when the euro reversed course.

That is the way free markets work.

Today the euro is sharply higher, yet gold and silver are barely green in the early going. Same old annoying drill.
There has been some talk about the price of gold being reset of late and over the past year. Some thoughts…

*Who does the reset?
*The presumption is the US will do so. Who gives us that right?
*China? Russia? Can you say war?
*Many of us think that a good portion of the US gold reserves of 8,135 tonnes is not there. How does that figure into the equation?
*If the US does a reset, do we offer to buy gold at a certain price? Say $3,000 or $5,000 … which can replenish our depleted reserves.
*The over night losses on a reset would be staggering to the leveraged shorts. How could the Comex survive? The Comex is part of the CME, or our financial markets.

How do they survive?
*The US intervened in the Long Term Capital Management blow up because of their short gold position. They were afraid of their covering of 300 to 400 tonnes of gold overnight would blow up the gold market and wreak financial market havoc. No one knows that better than their attorney at the time, Jim Rickards. That was Mickey Mouse compared to a reset.

*The Gold Cartel is all about a covert US operation with the bullion banks and the BIS. IF a reset were ever to be in the works, wouldn’t they:
  1. Buy as many cheap out of the money calls as possible to protect imminent losses.
  2. Buy as many gold the gold/silver shares possible to make over night fortunes, and not be subject to obvious inside information cases.
  3. Cover their shorts ASAP. Can you imagine Goldman Sachs, with their affiliation to the White House, not taking advantage of the biggest overnight money making opportunity in history? It is difficult to imagine that such an epic event would not be telegraphed in some way.
*A reset is too good to be true. BUT, if it ever to occur, The Gold Cartel would not have to do their thing anymore. The explanation would be the gold price was reset for technical reasons … BS after BS. The barometer of US financial market health would not be dysfunctional anymore. It would not exist.
Here is a surprise. The gold open interest fell 5,184 contracts to a new recent low of 469,382. And yet the insidious silver open interest rose 2,146 contracts to 207,610. The silver scene worsens and remains the most boring, AFFECTED financial market in history. It is getting to be reminiscent of the London Gold Pool days in which the gold price was set. In the case of silver it would be $16.50, plus or minus.
With the dollar having one of its worst days in memory, gold and silver just sat there. Finally the dollar losses seemed to wake up the gold/silver Energizer Bunnies and they suddenly popped. Gold printed $1304 and silver crossed the net at $16.50 AGAIN. The bad guys then woke up from their slumber and both precious metals were put back in their place.
James Mc…

Silver ball gets stuck in the net.....
The Comex close wound up being a big silver ball stuck right in the net- exactly $16.50. The RSI is at 50, and the MACD is 0.000, so it doesn’t get any more "net" neutral. Maniacal capping to say the least, ensuring certain entities will continue to get fixed pricing. The Tropic of Torpor goes on, with no end in sight.
Of course the ADP number was very bullish for the metals, but alas, only equities and the chosen ones were allowed to party hardy. Let the splainin’ begin with the metal’s non-reaction. Maybe not splainin’, but rather, a morbid non-curiosity as to WHY. There have been literally thousands of "counterintuitive" gold days over the past 2 decades yet Kitco has never once lifted a finger to investigate. They instead churn out the same old tired headlines, over and over:
Gold Sees Little Reaction To Disappointing U.S. ADP Employment Data
Fear In Equities But Not In Metals

Gold To Fall Below $1,300 Even With Italian Turmoil In Play – Strategist

It’s challenging when investors can’t even get the straight scoop about manipulation from a prominent (alleged) gold site like Kitco. Obfuscation, denial, and silence reigns supreme. In doing so it’s too bad 90% of the people will miss out on the greatest investment ever. Just like in 2011 they will constantly be warned by the "experts" to sell before the "bubble" bursts. Those same experts though have no problem with Tesla at $300, or Amazon at $1500. In a world full of endless bubbles and gross overvaluations there are only a handful of investments which can be described as undervalued. Furthermore there are only 2 which could be considered SEVERELY undervalued. One is currently stuck in the net, the other stuck at $1300.
James Mc