by Andy Hoffman, Miles Franklin:

It’s still early Sunday morning, before the French election has been concluded. Like the BrExit referendum and U.S. Presidential election, the powers that be are doing everything they can to rig expectations, in the hope of stealing the election for perhaps the least qualified, likeable, or competent candidate possible; and thus, prevent the “BrExit times 100” political, economic, social, and monetary ramifications that would unquestionably result from a Le Pen victory. In a few hours we’ll know if they succeeded; but even if so, it will be a Pyrhhic victory at best – starting with the all but guaranteed stalemate at next month’s French Parliamentary elections; and more importantly, the continued economic, social, and monetary collapse.

Despite the fact that the results will be decided on a Sunday night – i.e., the Cartel’s “Sunday Night Sentiment” key attack time; the concept that Precious Metal prices would materially decline if Le Pen loses is frankly, comical, given that gold and silver have been taken down by 5% and 12%, respectively, in the past three weeks, despite collapsing economic data; plunging commodity prices; flat interest rates; escalating North Korean and Syrian political tensions; and oh yeah, a falling dollar, for those who propagandize the fallacious “relationship” it has with gold.

I kid you not, “the dollar” closed Friday at its lowest level since…drum roll please…November 9th, the day after the Election! And how about that, gold and silver were $1,270/oz and $18.25/oz, respectively, on Election Day, compared to $1,228/oz and $16.30/oz, respectively, today. And for perspective of how blatant this Cartel attack has been, copper and oil were $2.52/lb and $46/bbl on Election Day, compared to…wait for it…$2.52/lb and $46/bbl, respectively, today.

The benchmark 10-year Treasury yield has “surged” to a still near-record low 2.35%, from roughly 2.00% on Electio Day, well below the 50 basis points the FOMC comically raised the Fed Funds rate by; and of course, the “Dow Jones Propaganda Average” has risen 2,000 points, given that it is no longer allowed to decline. Unfortunately, the propagandized “reasons” for this dotcom-like surge never materialized – given that per above, “Trump-flation” hasn’t emerged anywhere other than rigged, and patently useless, “soft data” indicators like “confidence” indices. Unfortunately, the real world has experienced plunging economic data – such as the first quarter’s (comically overstated) 0.7% GDP “growth”; with essentially all material indicators worsening each month. Then again, when financial markets have been commandeered, it makes total sense for the VIX to decline to multi-decade lows; and silver to fall 15 days in a row; amidst a backdrop of explosive political and economic uncertainty, and “dotcom-like valuations (of both stocks and bonds) in a Great Depression environment.”

As for silver, it shouldn’t surprise anyone that after taking the largest naked short position in COMEX history – to offset the equally largest speculative demand – the “Commercials” viciously attacked prices for weeks and end; until eventually, underlying physical demand was so strained, it was time to start covering said shorts. Which, as we learned late Friday, they did so for the week ending Tuesday, May 2nd, at the sixth fastest rate in the three decades I have COMEX data. And likely, will do so en masse in the coming weeks, especially if Marine Le Pen loses.

In other words, exactly what the Cartel did in late 2014, just ahead of the “Save our Swiss Gold” referendum; when, alongside one of the most virulently anti-gold propaganda campaigns in history – spearheaded by SNB President Thomas Jordan – Precious Metal prices were viciously attacked until the day of the referendum, to make sure the voting populace didn’t take an undue interest in this equally “BrExit times 100” political event. Comically, Jordan vehemently espoused that mandatory gold purchases would prevent the SNB from having the financial flexibility to maintain its peg with the Euro. Which, what a coincidence, was abandoned just three weeks after the referendum was voted down. And wouldn’t you know it, gold bottomed the day of the referendum, and rocketed higher in the months ahead.

As for the “stock market,” I want to set the record straight, once and for all, for anyone who actually still believes it is not 100% rigged to the upside – just as paper Precious Metals are, for now, to the downside; starting with these three charts that demonstrate unequivocally, that the fraudulent, fallacious “Trump-flation” meme that supposedly is behind stocks’ dotcom-like valuations, is DEAD. Not to mention, that as of last week, for the first time ever, the annual interest paid on Treasury debt – despite artificially QE’d rates to record-low levels – exceeded $500 billion.

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