• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

So Was The Chairman Simply Lying?

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Thu, 05/05/2011 - 14:48 | 1244382 carbonmutant
carbonmutant's picture

Is this a trick question?

Thu, 05/05/2011 - 14:56 | 1244421 Texas Gunslinger
Texas Gunslinger's picture

If ZeroHedge is taking the position that the Fed is lying about supply/demand, then wouldn't Zero Hedge have been lying about the role of speculators in the price run?


Thu, 05/05/2011 - 14:58 | 1244432 Hugh G Rection
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Thats the problem with trolling Dungslinger, too often you let the mask slip and show your true colors.

Thu, 05/05/2011 - 15:17 | 1244475 Texas Gunslinger
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Thu, 05/05/2011 - 15:18 | 1244529 lieutenantjohnchard
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most people here already understand the plot. the usa government is bankrupt. the fed is the buyer of only resort vis-a-vis treasuries. and much of what one sees and hears from the fed and treasury is an orchestrated phalanx of lies and deception to make people who think and know otherwise that all is well.

Thu, 05/05/2011 - 15:34 | 1244629 bigdumbnugly
bigdumbnugly's picture

was he lying?

his lips were moving weren't they?

Thu, 05/05/2011 - 16:05 | 1244844 DaveyJones
DaveyJones's picture

He wasn't simply lying. All his lies are complex

Thu, 05/05/2011 - 16:21 | 1244940 malek
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Thu, 05/05/2011 - 20:43 | 1245960 Fish Gone Bad
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It is an art to be able to speak out of ones mouth and ass at the same time.  This is a prerequisite for politicians of all flavors.

Thu, 05/05/2011 - 17:44 | 1245322 JW n FL
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Republican-controlled committee voted for a 18-month delay of regulations intended to reduce risk in OTC derivatives.
Thu, 05/05/2011 - 15:12 | 1244500 lieutenantjohnchard
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do you think he's one of those guys paid to troll zh posting comments to sway the marginal reader? he's written some utterly ridiculous comments. my personal favorite was the one where he told us to think like a ceo - that's chief executive officer for the uninformed he told us.

Thu, 05/05/2011 - 20:37 | 1245955 Fish Gone Bad
Fish Gone Bad's picture

That is indeed pretty funny.  Maybe he has a day job translating Mexican salsa signs ("fuego" means "fire" in spanish) as well.

Thu, 05/05/2011 - 15:04 | 1244462 lieutenantjohnchard
lieutenantjohnchard's picture

zh is a website posting articles and opinions on the financial issues of the day. ben bernanke is the federal reserve chairman of the reserve currency of the world. there's a difference in their mandates. ben bernanke doesn't want to be held accountable for his printing actions.

and of course speculators moved the price of crude up. bernanke all but begged them to speculate through zirp, inflation expectations and money printing.

Thu, 05/05/2011 - 15:08 | 1244474 hambone
hambone's picture

Matters not - just look at the REIT's sitting at 2.5 yr highs...ahhhh, safe and sound there...nothing bad could ever happen to the REIT's.

And then there's the Russell 2000- up on the day.  Hmmm...safe and sound.

Thu, 05/05/2011 - 15:12 | 1244509 lieutenantjohnchard
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survivor bias in some of the reit's in the total return. but i get your point.

Thu, 05/05/2011 - 15:06 | 1244477 carbonmutant
carbonmutant's picture

You need to take the gun out of the holster before you pull the trigger...

Thu, 05/05/2011 - 15:17 | 1244538 lieutenantjohnchard
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lol. good one.

Thu, 05/05/2011 - 14:58 | 1244442 Arrowflinger
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The trick question is whether this buying opportunity will be as transitory as Bearnanny's credibility.

Thu, 05/05/2011 - 15:36 | 1244642 max2205
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Thu, 05/05/2011 - 14:51 | 1244384 FOC 1183
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Thu, 05/05/2011 - 14:49 | 1244390 Gubbmint Cheese
Gubbmint Cheese's picture

Lying? Ben Bernanke?? No. I absolutely believe him. I absolutely believe that the Fed Chairman could not possibly know there was a housing bubble in the making.. or that QE doesn't cause inflation.. or......


Thu, 05/05/2011 - 15:23 | 1244544 Re-Discovery
Re-Discovery's picture

"Was he lying?" Hmmm...  That's a tough one, let me consult my algo.

My algo has a two prong decsision tree on that:

Question 1  - Was his mouth shut, if "yes", then "no"; if no then Question 2

Question 2 - Did he say anything, if "yes" then "yes"

Algo will trade on the decision that Bernanke was, in fact, lying.





Thu, 05/05/2011 - 14:52 | 1244394 mogul rider
mogul rider's picture

Yup squeezing dickheads who went 100:1 leverage on commodities is a bad thing.


I mean c'mon why lower the risk any.

Thu, 05/05/2011 - 15:17 | 1244534 Dont Taze Me Bro
Dont Taze Me Bro's picture

Yeah thats true, leverage is a double edge sword for sure, but having a lot of trading desks blowing up is not a good thing either.


Thu, 05/05/2011 - 15:31 | 1244615 Urban Redneck
Urban Redneck's picture

If there is an explosion on the trading room floor all leverage is automatically off loaded to the FED balance sheet per revised business (profit & bonus) continuity plan.

Thu, 05/05/2011 - 15:40 | 1244651 Dont Taze Me Bro
Dont Taze Me Bro's picture

Sad but true. The only sucker left holding the bag at the end of the day is the US tax payer.


Thu, 05/05/2011 - 14:50 | 1244397 tekhneek
tekhneek's picture

Transitorial truth I believe it's called.

Thu, 05/05/2011 - 14:59 | 1244450 CPL
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Until next week when a new truth shall be revealed to all.

Thu, 05/05/2011 - 14:51 | 1244410 Gubbmint Cheese
Gubbmint Cheese's picture

if only they increased the margins on oil to protect investors from getting carried away.....



Thu, 05/05/2011 - 16:37 | 1245056 Note to self
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That's funny!

Thu, 05/05/2011 - 14:56 | 1244411 Popo
Popo's picture

This is the problem with parsing economic trends from granular price movements.   ZH / Tyler is as guilty as anyone else on this issue.   If it's not oil, it's silver, gold, treasuries or equities...

When silver soars, it's inflation of course.   But what about when silver plunges?  Is that deflation?  disinflation?  Or no wait ... it's a "take down".  Yeah that's it.  Rises are due to inflation, and drops are (of course) "manipulation".  

Sigh. The old saw never changes.   But it always cuts poorly.

Any market with sufficient volatility provides infinite ammunition for all opposing theses.

Thu, 05/05/2011 - 15:07 | 1244467 Construct
Construct's picture

Well 'they' did hike margin five times in one week in Silver. And given how equities are doing nothing to the down side while PM go down almost 30% then yeah that does scream 'manipulation'.

Thu, 05/05/2011 - 15:17 | 1244522 EscapeKey
EscapeKey's picture

Nooo, there's nothing suspicious about an equities markets staying static, while commodities are collapsing, in an environment where the central bank rigs the bond markets.

No manipulation whatsoever, those who think so are clearly conspiracy theorists.

Thu, 05/05/2011 - 16:24 | 1244968 DUNTHAT
DUNTHAT's picture

And with the Dollar launching !!!

Thu, 05/05/2011 - 15:10 | 1244484 txapela
txapela's picture

It took silver 9 years to go from $5 to $50. That might be inflation.


then again..


It took silver 3 days to go from $50 to $35.


That is, conveniently, deflation.


Right. Right. Moving along now.

Thu, 05/05/2011 - 17:15 | 1245232 Popo
Popo's picture

Rather convenient manipulation of the X axis don't you think, my friend?

How'd silver do in the last 6 months?  Was that all inflation? 


Thu, 05/05/2011 - 15:11 | 1244492 benburnyanki
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look ninkumpoopo if you try and daytrade comodities, it will surely bite you in dee a**.

However if you just ring big T and ask to buy the metals for ya, he will lock you in a good price based on current bid/ask. No don't be a don't bee and sell it in a week or you being beside da point. Buy metal and sit on um it kimosabe.

Oh I see Popo, you wouldn't be postin from the Jacuzzi over at the Rothschild's mansion with the 12 year old naked girls tied up in it monseur?

No mo day tradin and then winin', jesus you worse than a troll almost.


Thu, 05/05/2011 - 15:20 | 1244556 Dr. Porkchop
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I'd take advice from a pirate on PMs anyday over the paper pushers.

Thu, 05/05/2011 - 17:28 | 1245236 Popo
Popo's picture

> "Oh I see Popo, you wouldn't be postin from the Jacuzzi over at the Rothschild's mansion with the 12 year old naked girls tied up in it monseur?"

Yes.  Yes, that's exactly me.  Hello from the underage sex-party.   Could you send over some more Grey Poupon?

I love how all opposing non-mainstream theses are instantly labeled as "mainstream".  

If you're not a goldbug, you're a Rothschild, eh?   Lulz sonny.   Pull up a graph of M2 lately?     

Something's going to bite you in the ass.  It's not a dog, but does begin with a 'D'.





Thu, 05/05/2011 - 15:15 | 1244508 Whalley World
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Look at the Silver chart and tell me this was a bunch of day traders deciding to hit sell at the same time.  The rat is trapped and is fighting back hard.  The fundo's for Silver have never  been better, just check out Harvey Organ's blog. to check OI

Maybe I will sell my vault full of silver and exchange it for green toilet paper, or wait maybe not!

Thu, 05/05/2011 - 15:16 | 1244531 EscapeKey
EscapeKey's picture

yeah i applaud the raids. a bit further down, and i start buying more physical.

Thu, 05/05/2011 - 15:17 | 1244539 Construct
Construct's picture

At the end of the day who cares? If you go long Silver here without any leverage it matters not what their number for pushing down Silver to is. They wont be able to shake you out if you have paper silver without leverage or physical silver.

Thu, 05/05/2011 - 15:24 | 1244583 Smiddywesson
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Until this little display comes to an end, short paper gold, long physical gold.  Divert profits into more physical gold.  Sleep well at night.

Thu, 05/05/2011 - 15:35 | 1244580 benburnyanki
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I know some trolls out there are lurkin' but not sure about Popo.

I know you sheep head fucker Rothschilds just dumped about 1/100000th of a % of your gold and silver on the markets to make sheep shit hit the wall to scare the bejesus out of them so they start using fake Fiat dollars again and run from PM's)

In foot ball USA way they call this play a 'hail mary' since the JPM front for the Rothschilds owns too many puts on silver and gold for decades to keep price of PM low artificially. Therefore the R's been selling huge boatloads of Silver and Gold to trick everyone else to sell and then they can unwind their short pos. and go home and u know what 12 year olds stress free again.

Thu, 05/05/2011 - 17:26 | 1245263 Popo
Popo's picture

You've got me nailed, pirate boy.  I am Baron de Rothschild.   I love Zero Hedge because it's such a wonderful example of conformity of thought.    It gives me hope for another empire one day.

Now... back to counting my billions.   And you pirate boy, must get back making french fries.  Break time is over. 

Thu, 05/05/2011 - 14:52 | 1244413 NOTW777
NOTW777's picture

we're not monetizing debt, right?  that was true, right?

Thu, 05/05/2011 - 14:52 | 1244415 apberusdisvet
apberusdisvet's picture

Well they can slam the PMs, so why not oil?  They really are the Masters of the Universe.  Can they do something about my property taxes?

Thu, 05/05/2011 - 14:55 | 1244424 Alcoholic Nativ...
Alcoholic Native American's picture

Yea, raise them, they are not sure if local governments are too big to fail yet. They will try to squeeze the last juice out of the plebes that fell for the "ownership society".

Thu, 05/05/2011 - 14:57 | 1244425 Hugh G Rection
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Long Live Chairman MaoNanke!


You are insolent swine for questioning our supreme monetary wizard chief!

Thu, 05/05/2011 - 14:58 | 1244431 uhb
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Buying PMs is an insurance. Thou shall not buy insurance on leverage: thou shall buy your insurance physically so that you shall sleep well.


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