Stocks managed to extend their rally and edged a little higher.This has the hallmarks of a squeeze on those who took cash or short positions as a result of the new hostilities in the Mideast.VIX continues to wallow with its MACD histogram now at a low for the year.Gold and silver endured a major bear raid this morning, no doubt led by the bullion banks and their cronies. The Banks are the dreadnoughts in the ongoing financial and currency wars.Speaking of gold, analyst Jan Nieuwenhuijs believes that the People’s Bank of China is covertly buying large amounts of gold in preprartion for a change in the global monetary structure. You can read the full article here.“The PBoC is in a hurry to buy enormous amounts of gold, indicating it’s preparing for substantial changes in the dollar-centric international monetary system.
Based on information from industry sources and my personal calculations, total gold purchases by the Chinese central bank (reported and unreported) in Q3 accounted for 179 tonnes.Year-to-date the PBoC bought 593 tonnes, which is 80% more than what it bought in the first three quarters last year.Its total estimated gold holdings are 5,220 tonnes, more than twice what’s officially disclosed at 2,192 tonnes.
The movement towards gold by central banks is showing no sign of slowing down. Mainly the Chinese central bank is on a voracious buying spree since 2022, and it’s obtaining way more metal than what is officially reported.”I think we’re going to need a bigger boat.The big, tectonic changes happen slowly, gradually, and then like an avalanche or earthquake of revelation, all at once.Have a pleasant evening. 
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