"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput


Wednesday, September 7, 2011

Gold holding firm in terms of the Swiss Franc

Note the chart of gold priced in terms of the Swiss Franc. While it is sharply lower today as the Central Banks of the West declare war on the metal, it has only retraced about half of its strong gains made against the Swiss Franc after the Swiss National Bank effectively devalued their domestic currency on Tuesday of this week. While the SNB set about to debauch their currency, those Swiss wise enough to have accumulated gold have fared quite well as their wealth has been protected.

This is what gold does historically  - it serves as a haven against the depradations of Central Bankers, monetary officials and inept political leaders who look only at the short term and do not focus on the longer term. This group of leaders seem intent on plundering the wealth of the citizens of their nations.

Carerfully compare the two charts and you will see that gold's strong, sustained rise against the Swiss Franc began exactly on the same day that the SNB first announced efforts to derail the strength in the Franc. It moved steadily higher, retraced some gains and then exploded into new highs Tuesday of this week when they effectively devalued their currency and destroyed its safe haven status in the process.


  1. Yes, once again short term manipulations are but a guy pointed into the wind with his device. It does not take long for it to blow back all over himself. Sorry, I scourage all websites looking for insight. Mr. Noricini, yours has truly been a beacon light in the darkness. Harry's as well. For that matter Jessee, Turd's, Edelson, Weiss, Sinclair, all are perused for hints on things to come. This one item (price of gold in swiss franc) was very interesting to me. One safe haven left, as now, they (Central Bankers), chose again to bury the truth, and attempt to alter the things that will come. Hui, xau, still holding very well against the onslaught.Thanks Dan.

  2. Again the mushrooms are blooming everywhere. Hell, I have to buy more as that means they don't have enough money to short miners, payoff hedgies, and buy the PRO ETN's.ZNN, and a few of the others were soaring, now they are slowly falling back to earth. They are running out of ammo Dan. A few more tricks up their sleeves. If we only had a clue to when the CME increases the margins again. Right before the FOMC minutes? After? Gotta becoming soon. Gold continues to bound higher...

  3. A few more things. DJIA off in volume nearly 50% yet it surges and mushrooms galore. Short funds (Gold and Silver) up about 5% price, yet, volume at 66% levels going into close. Gold stocks hardly touched, until, they need to make these violent turns to try to quash it because it represents truth! I am very tired Dan. Waiting until it finally crushes them all under a wave of MARKET TRUTH. Great Jimmy H. told all of us to go to hell yesterday. Fine Jimmy, just that you have no idea of how large an army you face. "Mene, Mene, Tekel, Upharsin".

  4. This comment has been removed by the author.

  5. hey dan, the relative outperformance of silver vs. gold (less downside today) is pretty interesting to me.

    A lot of metals gurus are saying that Silver will outperform Gold and today jives with that theory.

    I would love get some insight from you on today's performance in silver markets.

  6. thanks Dan, this is most reassuring

    and to the bankers:

    take that you farging bastiges!

  7. What IF the attack on gold is just a way to reduce the price of gold before Obama speech and possible coming announcements from central bankers -read QE3 + QE1/2 from the ECB....
    I have noticed many, many times the manipulation (down) in gold before either bad news -like monthly unemployment or QE or major speech from the "leaders.... After such "negative" events the POG jumps higher and higher...
    The answer could come as soon as Friday morning after Thursday's Obama speech on QEJOBS.

  8. Hi Dam, as always very insightful -- while that 22ton dump was quite shocking, my question is what is your take on Au holding that 1800 line, despite a short 179x breach? I thought that was impressive comparing to last 1700 hold. Can we say, strong resistance is also moving higher with each raid?

  9. Hey Dan,

    How about Swissie Silver, The Big SS :)

    Thank you.

  10. Doctor Dan would you please educated us about your opinion on Silver...interesting how resilient silver has been in the last two criminals corrections. Grazie

  11. September 7, 2011, at 12:39 pm
    by Jim Sinclair in the category In The News | Print This Post Print This Post | Email This Post Email This Post

    Jim Sinclair’s Commentary

    Let’s go back to visit with Master Kenny:

    On August 25th Kenny suggested that a correction of $212.50 in two days seldom finishes quickly. However, the chance that the low of $1700 was the bottom was 50/50, which is good after such a waterfall correction.

    Kenny suggested that as a minimum, this correction would last 15 to 18 days and 36 to 40 days maximum.

    $1917.90 is the challenge that keyed the pre Swiss action selling to contain gold. This is the hard chop that Kenny has called for before gold sees above $2000.


  12. Dear Mr. Norcini,

    I was reading your blog for about 1 year and I have found it always very helpful. So first of all thank you for the work you put into educating others. It really helps a lot.

    The reason I'm writing to you is because I saw that you sometimes aswer questions posted here on the blog.
    Currently, I'm working on a simple strategy with future options on silver/gold futures and I was wondering whether you could help me out with some rather technical questions? (about writing american style call/put options on silver/gold futures)

    Of course I would understand if you don't have the time to elaborate on these kind of requests. In this case it would be enough if you could just indicate me some good reading sources.

    I'm also not sure where to post my questions. Should I write you an e-mail or should I just post them here in the comment section?

    Thank you for your attention,


Note: Only a member of this blog may post a comment.