Comment: Maybe this is the reason

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DJP333's picture

Maybe this is the reason

for the beat down in PMs recently, there may not be much time left for the FED and Wall Street to keep propping up US equities and the Dollar OR the Chinese and Russians are gaming the COMEX to continue to stack PMs at low prices:

BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks

As Putin explains, this is part of "a system of measures that would help prevent the harassment of countries that do not agree with some foreign policy decisions made by the United States and their allies." Initial capital for the BRICS Bank will be $50 Billion - paid in equal share among the 5 members (with a contingent reserve up to $100 Billion) and will see India as the first President. The BRICS Bank will be based in Shanghai and chaired by Russia. Simply put, as Sovereign Man's Simon Black warns, "when you see this happen, you’ll know it’s game over for the dollar.... I give it 2-3 years."

http://www.zerohedge.com/news/2014-07-15/brics-announce-100-...

"It’s not pessimistic, brother, because this is the blues. We are blues people. The blues aren’t pessimistic. We’re prisoners of hope but we tell the truth and the truth is dark. That’s different." ~CW