This is the takedown I have been expecting. At this writing, gold has dipped below $1,300:
Silver dipped below $20:
![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)
This is the classic takedown play after the Federal Reserve’s meeting. The intent of this takedown is to dissuade investors from fleeing to the precious metals as the Fed is continuing its debasement of the U.S. Dollar to the tune of $85 Billion per month. The markets are now addicted to the Quantitative Easing (money printing) and when you take away the addict’s stash, he goes into severe withdrawal. If aggressive money printing isn’t working, why would you continue it? Out of fear of collapse.
Is this the bottom? It is hard to say. Typically, Friday is the day the central planners force the price down in order to “paint” the technical charts into bear territory. Nonetheless the second half of this year will possibly be chaotic. Once again, the Chinese are smiling as they buy these metals at bargain prices… unbelievable!