Stand strong with gold
CIGA Eric

The difference between profit and a loss is often defined by your ability to stand strong, often alone, in the face of doubt.

Once again gold has risen to the currency of choice based on the inherent undisciplined nature of fiat money.

GDX remains sandwiched between two gaps as it fights with trendline support. The energy within the trend, however, has turned. This suggests higher prices over the short-term. Also, junior miners continue to outperform the majors during and after decline in gold (updated Junior to Major ratio GDXJGDXR). A rising ratio illustrates increased leveraged money flows. Rising leverage tends to coincide with rising gold prices (ta-gold-miners-follow-money).

Amex Gold Miners Index ETF (GDX):

Big money is fading strong dollar spin because it knows the following: (1) Resolution of three taps & out in the gold stocks is near, and (2) Gold is the mechanism for defeating another debt collapse at the end of an long economic cycle.

Gold Stocks 1922-:

Gold 1871-:

More…

Greetings Jim,

The Gold Currency Index is attempting to break out above congestion resistance this morning. A strong close this afternoon would suggest a retest of that all-time high in short order.

Best,

CIGA Erik
Prometheus Market Insight
http://www.prometheusmi.com

Erik,

Gold was strong going out of the US session.

Jim

Dear Jim,

I understood that Iceland’s unwillingness to pay was on certain CD type instruments. Is that correct?

Respectfully yours,
CIGA Arlen

Dear Arlen,

Specifically, yes. However the problem would never have occurred outside of the maze of OTC derivatives sold to Iceland which they are unwilling and unable to pay without a bailout from somewhere.

It is more of "just say no," this time coming from citizens demand.

Let’s see what the referendum does.

Regards,
Jim