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James McShirley: There is no doubt the past month has been a pre-planned, coordinated attack on gold and silver.

lemetropole's picture




 

Bill,
 
There is no doubt the past month has been a pre-planned, coordinated attack on gold and silver. It has been carpet bombed over and over, in a most conspicuous manner. There has been NO attempt to be discreet, and the algo bombs are little more than scheduled events for all to know. Anything that has a 90% chance of happening at specific times might as well be listed in the TV Guide programming. Since the CME curiously (at the time) lowered gold and silver margins gold has dropped $120, and silver $5. In light of the subsequent attacks that too looks very much coordinated. Think of it, since late October ALL of these have had a 90% and above chance of occurring:
 
* PM fix lower, or no higher than $5 than AM fix.
* Smash on the Comex open.
* Smash on the London close.
* Smash on the post-Comex pit close.
* Smash on the Comex access trade reopen. 
 
If any one of these anomalies had a 90% probability of occurring it would be highly suspicious. The fact that is happening on FIVE different times during the trading day takes it to the level of absurd beyond belief. "Banging the close" looks quaint compared to "banging everything in sight".  If the CFTC claims to be powerless to stop it they should at this point be calling the FBI. There have been investigations launched into far less suspicious trading. Even Enron never manipulated energy derivatives this blatantly. Anytime gold plummets on not one, not 2, but on 3 rapid-fire hyperinflationary events (QEinfinity, QE unlimited, and the fiscal cliff stalemate) it can only be manipulation. In fact gold is so badly manipulated I can't think of a single bullish development that would lift it. If the Treasury announced an instant 30% devaluation in the dollar they would still crush gold, saying it was less than the 50% devaluation pundits were expecting. THAT's how absurd it has become.
 
Something BIG surely must be coming to justify the ferocity of the cartel. We will wait and see, and wonder where they are getting the physical to pull this off. Non-physical gold investors may come to better understand the phrase "getting Corzined".
 
James McShirley        

 

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Fri, 12/21/2012 - 18:27 | 3088520 auric1234
auric1234's picture

I was wondering... wouldn't it be a good idea to go SHORT on the paper gold? We all know gold futures are going down to zero when physical decouples from spot and paper holders rush to sell them.

When the ponzi crashes, this makes for an additional profit as gold futures go down while physical gold skyrockets.

If economy takes too long to get past the zombie state (e.g. 20 years like Japan), during this period the short positions offset physical ownership.

If some miracle happens (like, nuclear fusion is discovered) in the meantime, we're covered too.

Thoughts?

Fri, 12/21/2012 - 14:10 | 3087512 Arcturus
Arcturus's picture

Manipulation only happens when the prcice goes down. when the price rises it is just normal trading.

Sheesh - everyone knows that!

if you are a believer in manipulation or even if you are not, when the price dives, just buy more, it is a gift.

 

When the bankers get their gold to build their reserves for the upcoming Basel lll rules. It will be in their best interest to then drive the price of gold skyward. This will increase the amount of money they can lend without having to reserve a fixed fiat price.

 

Fri, 12/21/2012 - 10:05 | 3086423 monopoly
monopoly's picture

I am no expert on manipulation. I think we are giving the inmates way too much credit that they know what they are doing. But, I do know that at some point the miners will be the buy of a lifetime. Just the inflection pont. But, we are close.

Fri, 12/21/2012 - 09:50 | 3086377 Contrary Casanova
Contrary Casanova's picture

Why is this news. This is why the fed was created. Doesn't change a thing about why we buy insurance.

Fri, 12/21/2012 - 09:32 | 3086311 lakecity55
lakecity55's picture

I opened my safe door. My PMs are not moving at all. They sit silently, emitting a soft reflection of light......

Conclusion: Paper Manipulation! PMs on Sale!

Buy!

Keep Stackin'

Fri, 12/21/2012 - 09:37 | 3086336 d edwards
d edwards's picture

And the last few months various gov'ts around the world have been adding to their stockpiles of gold. Hmmmm...

Fri, 12/21/2012 - 09:15 | 3086269 malikai
malikai's picture

One man's manipulation is another man's blue light special.

Fri, 12/21/2012 - 08:59 | 3086234 MacroAndCheese
MacroAndCheese's picture

Yeah there's an attack, called "selling."

Fri, 12/21/2012 - 08:59 | 3086228 Martel
Martel's picture

no doubt the past month has been a pre-planned, coordinated attack on gold and silver.

That is utter cry-baby BS. Did someone forget to tell the Little Princess that PM prices can also fall?

I have no problems with gold, it is the gold bugs I can't stand. Hopefully the current slide continues, so I can increase my position.

Fri, 12/21/2012 - 09:33 | 3086320 tetsujin
tetsujin's picture

the point is regarding market manipulation. why hate on someone because they like gold?

Fri, 12/21/2012 - 11:44 | 3086854 Martel
Martel's picture

My point was, loving gold does not require coming up with conspiracy theories every time prices fall.

Fri, 12/21/2012 - 07:04 | 3086119 Bastiat009
Bastiat009's picture

"James McShirley: There is no doubt the past month has been a pre-planned, coordinated attack on gold and silver."

No kidding Sherlock ...

And "pre-planned" as opposed to "post-planned" ... next time, try "pre-planned in advance"

Fri, 12/21/2012 - 07:03 | 3086118 NuYawkFrankie
NuYawkFrankie's picture

Re Pre-planned attack on gold... - James McShirley

 

OMG! McShirley not!

Fri, 12/21/2012 - 07:23 | 3086117 NuYawkFrankie
NuYawkFrankie's picture

No signs yet of Planet Niburu in these parts...

 

... so far so good I guess

Fri, 12/21/2012 - 09:58 | 3086328 lakecity55
lakecity55's picture

+1. NYF: is it not already tomorrow in Oz?

I think we are safe.

 

Fri, 12/21/2012 - 05:05 | 3086053 hooligan2009
hooligan2009's picture

when the animals lose spirit and i feel decrepit

i pull out my gold and again feel bold

it is mine not theirs with no splitting hairs

but i tell no man what i have (no can 

to kick) so i don't lick

the wounds to come when markets

...close 

 

 

 

 

damn this remy martin champagne cognac!

Fri, 12/21/2012 - 02:11 | 3085901 Element
Element's picture

When it goes back up, its going to go back sharpish. Pumping a housing-lead recovery ain't gonna work because it just isn't real.

If it were, foodstamps wouldn't be breaking new records all the time.

Oh, and massive enduring QE would not be necessary to try and hide banking system insolvancy, and tax revenue collapses with rising deficits.

 

Collapse is the new recovery.

Fri, 12/21/2012 - 00:02 | 3085557 headless blogger
headless blogger's picture

Maybe use this time to buy a little more. Maybe the Cartel doesn't want the metals to sky-rocket just yet, which would likely coincide with a large dollar decline....They don't want that to happen until they are completely set up and ready. I guess everyone has to wait until it is convenient for the Cartel.Since nobody wants to stop these people, you just have to live with the consequences.

Fri, 12/21/2012 - 00:36 | 3085716 cynicalskeptic
cynicalskeptic's picture

Painting the year end... can't have gold and silver looking too good.  

Rising gold is like the canary in the coal moine dropping dead.  It's a signal that things are getting bad in the fiat world and it's time to get out.  

They're doing all they can to keep the canary in the fiat coal mine from signaling that 'It's time to RUN!!!!'  - they're hoping nobody will notice they stuffed the dead canary and tied it in place.

 

One has to wonder about such long term suicidal behavior.  Ultimately, all they're doing is letting China et. al. buy physical on the cheap - they're trading paper $ for real, tangible value with a clear intent of setting up a new - or at least alternative - world reserve currency that will not continually be losing value (as the dollar has).   The West plays for the short term looking to next quarter or maybe a year at most - using smoke and mirrors when all else fails - while the East is playoing a long term game where the outcome is decades in the future.

 

Fri, 12/21/2012 - 04:07 | 3086020 mr_T
mr_T's picture

Do you remember the ... What we need is a bank holiday speech.. with Corzine and VP.

Ur keeping money in the banks after hearing that speach.

Reminds me of an old Olvia Newton John song...just the first phrases.. the the leg warmers were hot too.

Thu, 12/20/2012 - 23:37 | 3085478 DowTheorist
DowTheorist's picture

Today a primar bear market for gold and silver has been announced by the Dow Theory. Of course, this refers paper gold and affects short and medium term traders; not the secular investors invested in physical.

 

Here you have the relevant chart and the details:

 

http://www.dowtheoryinvestment.com/2012/12/dow-theory-update-for-dec-20-...

 

 

Fri, 12/21/2012 - 09:44 | 3086361 sablya
sablya's picture

Does anyone still think that the Dow theory is accurate?  It would have predicted a primary bear market for gold and silver last December too after both gold and silver were off 20+% from their recent highs.  But as soon a January rolled around, silver went on a nice run.  

Fri, 12/21/2012 - 04:41 | 3086040 foxenburg
foxenburg's picture

no disrespect, but sweet jesus, since every other theory of rational economics seems to have become inverted and senseless, then if this rational and predictable dow theory of bear market ought to kick in.....then we in fact out to see gold take off. 

Fri, 12/21/2012 - 00:28 | 3085677 Go Tribe
Go Tribe's picture

Wouldn't be surprised to see a whipsaw move up. They love torching everyone. The idea isn't to screw the longs, but to screw the trade itself.

Thu, 12/20/2012 - 23:42 | 3085491 jekyll island
jekyll island's picture

You had me at banging the close. Good times.

Thu, 12/20/2012 - 23:31 | 3085455 SAT 800
SAT 800's picture

Oh, stop whinning and BTFD.

Thu, 12/20/2012 - 23:20 | 3085423 NOPOMO
NOPOMO's picture

It is Tradition.....&.........not money.

Thu, 12/20/2012 - 22:59 | 3085320 strannick
strannick's picture

"If the CFTC claims to be powerless to stop it"?

The CFTC IS the problem.

Did nobody read CFTC Judge Painter on how CFTC Chairperson Wendy Gramm told a new CFTC Judge never to rule in favor of a manipulation-claiming plaintiff?

CFTC Commisioners Jill Sommers, Scott OMalia and Bart Chilton seem to have fully inbibed this corrupt corporate culture.

Jill Sommers oversaw the CFTC hearing of John Corazine as he got let off. Jill Sommers tried to stop the CFTC's public comment on precious metals position limits.

Scott OMalia is trying to stop the CFTC's appeal of a judge's rejection of derivative limits.

Bart Chilton is the precious metals uncle Tom. He shucks and jives, shrugs his shoulders, has assinine interviews, and plays the good cop, do nothing cop, just happy to collect his huge bureaucrats salary, while perpetuating silver's ''crime in progress''. Hows that 4 year silver investigation coming?

These CFTC Commisioners enable the mispricing of commodities worldwide. They will play a very large part in the worldwide shortages that will result from their bankster enabling corruption. Thats quite a legacy.

Fri, 12/21/2012 - 08:09 | 3086163 nathan1234
nathan1234's picture

The CFTC is nothing but a bunch of crooks facilating the TBTF Banks and the Admin's efforts in keeping Gold down.

The fact that they are quiet is absolute proof that they are blissfull of their performance because of the Admin's backing.

They forget the Nurnberg's court ruling which said one cannot pass the buck but must take responsibility for their actions.



Fri, 12/21/2012 - 00:41 | 3085736 cynicalskeptic
cynicalskeptic's picture

When Blythe was saying that JPM didn't take direct positions I had to gag.  A JPM exec said point blank, in private - that they were involved in 'all kinds off things a bank shouldn't be in' that someday it WAS all going to blow up.

Thu, 12/20/2012 - 22:48 | 3085312 tony bonn
tony bonn's picture

jim willie has been speaking for months - ever since the 2/28 smackdown - about a concerted and desperate effort of the central banksters to destroy gold.....the problem with their strategy is that it is depleting their reserves as some very serious buyers are taking large quantities on the dips....anyone who thinks the "gold bubble" has popped is a fucktard.

Fri, 12/21/2012 - 09:49 | 3086374 sablya
sablya's picture

It is a lose-lose situation for them.  If they succeed in destroying gold, they will destroy the economy because it is gold-based whether they like it or not.  No matter whether Bernanke thinks it is a barbarous relic and just a shiny rock with no intrinsic value, the fact is that the more they try to drive it down, the tighter they will compress the spring because people will snap it up, decreasing the physical supply.  And if JPM is trying to unwind its short position, then whatever they do will be temporary at best and create a glorious buying opportunity for the rest of us.

Fri, 12/21/2012 - 05:24 | 3086080 ydderf1950
ydderf1950's picture

for every seller there is a buyer.

Thu, 12/20/2012 - 22:23 | 3085235 Fix It Again Timmy
Fix It Again Timmy's picture

Someone screamed inside Fort Knox and the echoes were deafening....

Thu, 12/20/2012 - 22:13 | 3085191 americanspirit
americanspirit's picture

I just took the first of the many credit card offers I receive - usually tear them up - and bought the limit on silver eagles. And the sale went through! Thank you cartel gods. (Last silver I bought was $11.23. Still have it - don't plan to sell.) I plan to get back 10X in 6 months or less on the back of this bank, or I just won't pay the damned card. I have no use for a credit score anyway. Even better - it was a Chase card. Boo Yah.

Fri, 12/21/2012 - 10:53 | 3086601 TheGardener
TheGardener's picture

Kill-the-Rich envious little americanspirit trolling about tiny silver purchases on potential fraudulent credit getting up voted like this is not a good sign. Fight club greetings,
consider yourself being kicked .

Fri, 12/21/2012 - 20:10 | 3088825 MeelionDollerBogus
MeelionDollerBogus's picture

With such grammaring of american AnTrollonism can't discern 'middle class' from 'back of class'

pffft :D

Boating accidents, bitchez

Thu, 12/20/2012 - 22:04 | 3085170 Pejorative Requiem
Pejorative Requiem's picture

Wild fluctuations in gold and silver weren't completey unpredicted. Bouncing between 1600 and 1750 in about a week, but if you look at physical sales by non-traditional means, the value holds well at about 1680. 32 for silver is still a good number. One of the advantages of looking at the little peoples sales is you know who sold how much for what. US dollars (mostly - but the forex isn't tough to figure in) are traded for real pm's - mostly in coins which are not counterfeit shocked yet. But, yeah, there's some dumping going on; but of what? counterfeit bullion? paper? Who knows. Buy tulip bulbs......... they're back in.

Thu, 12/20/2012 - 21:48 | 3085101 egoist
egoist's picture

It's spooky and all, but really, keeping the faith is as simple (and sound) as thinking that the Fed will not soak up the dollars it deployed, let alone will not continue to pump. Your phy PM is safer by the advancement of every microsecond - provided nobody conks you on the head to get their hands on it.

Fri, 12/21/2012 - 06:22 | 3086102 D-Man
D-Man's picture

You know it! I added to my phys silver yesterday, what a gift! Stack the smack and hold for the long term!

Thu, 12/20/2012 - 19:01 | 3084430 razorthin
razorthin's picture

Thank you Sir, may I have another!

Thu, 12/20/2012 - 19:00 | 3084427 logicalman
logicalman's picture

Simple question.

If you have a choice between a pile of phys, a pile of paper or a virtual pile of zeros and ones, which would you choose?

 

 

Thu, 12/20/2012 - 23:17 | 3085416 Jungle Jim
Jungle Jim's picture

That depends on how much I have to pay, and how soon, to go on living indoors, and keep the electricity on and the phone connected.

Thu, 12/20/2012 - 21:57 | 3085142 kliguy38
kliguy38's picture

The game is very simple for the peeps. Stay out of the paper market! Stack your physical and hope that when the SHTF the splatter doesn't take out your continent. This game is played by psychopaths and they have pushed this now to DEFCON 5.....gl

Fri, 12/21/2012 - 02:03 | 3085892 StychoKiller
StychoKiller's picture

DEFCON 5 = keep yer eyes peeled.

DEFCON 4 = Hmm, something's not right, NORAD calls in the whole crew.

DEFCON 3 = Saddle up the B-52's, let's ride!

DEFCON 2 = Open the bomb bay doors...

DEFCON 1 = TEOFTWAWKI

IOW, DEFCON 5 is nothing to worry about.

Thu, 12/20/2012 - 18:37 | 3084346 rsnoble
rsnoble's picture

I am going to offer my t/a opinions on this matter.  While I am no one to most of you it should be noted that I might know a thing or two on this matter.  

Going forward: Gold topped in in October and plummeted until early November. So curiously.........why are you bitching about the past few days?

Secondly with this kind of downward momentum it is highly likely to find lower support levels.

This is all  just chart speak, with nothing else taken in consideration.  One of the greatest chart readers of all time imo, which you also wouldn't know, once told me you can find justification for whichever case you may want.

Nothing goes up or down forever.

Fri, 12/21/2012 - 20:16 | 3088843 MeelionDollerBogus
MeelionDollerBogus's picture

Most chart-readers are idiots.

Most penny-stocks go down & stay down.

Most bubbles go up sharply & pop with no discernable long-term gain.

Most rules are meant to be broken: watch for exceptions (who, when, where, why).

 

Fri, 12/21/2012 - 10:09 | 3086438 sablya
sablya's picture

I looked but I didn't see any TA in your post.  The chart says that gold and silver, with RSI below 30, are oversold and are due for a technical bounce.  The price has retraced 61.8% of the overall move and 76.4% of the expansion region (this may be too technical for you).  That's a typical place to find support, even in manipulated markets.  

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