Andrew Hoffman, Miles Franklin, Released on 3/28/16
OK, where to start following a weekend of unabashedly PM-bullish, everything else bearish news? Following which, the Cartel executed, amidst the slowest global trading period of the year (U.S. markets closed Friday, and Europe today), its 137th “Sunday Night Sentiment” raid of the past 143 weekends, and 611th “2:15 AM” attack – featuring the ubiquitous “Cartel Herald” algorithm, of course – of the past 701 trading days. And I’m talking about dead trading activity – with U.S. stocks, bonds, and crude oil futures flat overnight, and base metals not even trading due to the LBMA holiday.
Which leads me to this incredible “debate” between Harry Dent and Peter Schiff – in which the former, once and for all, proved his utter cluelessness of how markets work; whilst the latter, despite being, along with David Stockman, the most talented economist of our time,again displayed his gaping flaw of not realizing – or admitting – the gold markets is rigged. Aside from that, Schiff utterly destroyed Dent, point by point – with Dent, yet again, demonstrating his mastery of the art of misinformation. Which is a shame, as he too is a brilliant economist; but a terrible market forecaster; with frankly, a Cartel-like attitude toward gold. Don’t believe me? Check out this list of his “amazing” track record – which doesn’t even incorporate his mid-2011 prediction, with the Dow around 12,000, that it would plunge to3,000 in 2013; as opposed to what it actually did – start 2013 at 13,000, and end at 16,000.
Andrew (“Andy”) Hoffman, CFA joined Miles Franklin, one of America’s oldest, largest bullion dealers, in October 2011 and serves as Marketing Director. For a decade, he was a US-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 through 2005. Since 2002, his focus has been entirely on precious metals, and since 2006 has written free missives regarding gold, silver and macroeconomics. Prior to joining the company he spent five years working as an investor relations officer or consultant to numerous junior mining companies. Andy’s articles can be found on the Miles Franklin Blog, at www.milesfranklin.com.