"Of all forms of tyranny the least attractive and the most vulgar is the tyranny of mere wealth, the tyranny of plutocracy."
J. Pierpont Morgan
As you may recall I warned several times over the past two months that this option expiration would get 'hit' because December is a big delivery month.
And so it has.
I am going to reset the upward curve on the gold daily chart to wherever this takedown ends up, after the shenanigans are over.
As you can see on the more detailed gold futures chart, the last low in October was reached a day or two before the option expiration. I am not so sure it will play out that way this time because of the delivery issues and the holiday shortened week. But let's see how the charade progresses.
It says a lot about a society where customers can be openly robbed, and markets can be blatantly rigged, and even more about the people who defend it and hold it up as an ideal for the rest of the world.
This is what the average American mind cannot yet grasp, but those outside the system see it clearly. And it is puzzling to them. How can a reasonably educated and well off people act as such willing fools for those who take such shameless advantage of them?
Well after all, it is a currency war.
