I’m sitting on the edge here watching several indicators of what will confront the gold bugs in the next few weeks. I see alarm bells everywhere, bit that may just be peculiar to my own subjective myopia. I have a bit of dry powder on the sidelines that I am loathe to place right here.

The 10 yr. US bond has risen to over 10%...and if the market directors plan to maintain control, they must soon buy bonds and get that down…so that money flows back do not seek other assets (ie; gold; silver). The commodities are creeping higher, as are silver and gold and some of the stocks. It makes me pause to see that, on the heels of bad news, both Yamana and Kinross went up this morning. I am also twitching at the price of Silver Wheaton now up over $30.

Are the masters of the universe setting us up again? I’m guessing yes…but I could lose if this is the start of the much signaled take off in gold and silver. Corn, wheat and soya beans are screaming inflation…with the follow through increases in livestock, dairy and poultry to come. Gasoline in the U.S. is up to the $3 level. The Euro is the big short vs. the $US. The Central bankers are in turmoil, ready to rat on one another big time now…post LIBOR gate. The U.S. is fighting dirty to keep the $US the global currency with military drums beating in the background as the US dollar based system is cornered by the East. The shouts for QE3 and enhanced bond purchases are desperate. Can the puppet masters delay until September?

Jim Willie and others remind us that if gold hits $2500 the $U.S. will descend to the 70 cent level…with the US bond at 5% (now at 17%):”What JPMorgan does in order to maintain the price structures, much like a master maestro, is to raid Allocated Gold accounts while at the same time raid the GLD exchange traded fund gold inventories. Their routine naked shorting in the COMEX arena is inadequate, as their strategy requires some physical metal even if stolen or seized or captured. They repeat the process in the silver market for Allocated Silver accounts and the SLV exchange traded fund inventories for silver.” Of course, JPM is only acting on orders from above, immune to prosecution. One can only imagine the naked short positions of the PM/JPM stocks…like AUM (with double indemnity due to the raw punishment reminder to Bill Murphy and followers).

The above indicators and many more tell us that the systemic pressures building against the control mob are now reaching a crescendo. But that only suggests to me that this month I’ll be no different than last, unless the power crowd has lost control, and I can’t see it here…in spite of all the charts. The start of the financial rush into the PMs and a systemic upheaval are not in the cards for this month as far as I am concerned. I a betting that we will soon see a flow back into the ten year bond, support for the $US and the trashing of gold, silver and especially the stocks. Silver Wheaton looks just too good here.

When will the shorters act?