Martin Armstrong stated in his blog Post that the reason for the “flash crash” in silver Sunday night, May 19, was due to the lack of bids. He goes on further to say “Despite the gold/silver promoters, there is no expansion of buyers for the precious metals. It has been the same choir over and over again.”
While I have a lot of respect for Martin Armstrong’s work on his pi-cycles, it amazes me when he makes a comment such as this. Of course there were a lack of bids during one of the most thinly traded times of the day — it goes without saying.
The flash crash wasn’t due to silver fundamentals, rather it was due to garbage trading of fiat currencies taking place in the Forex markets. [Read more...]