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James McShirley: There is no doubt the past month has been a pre-planned, coordinated attack on gold and silver.
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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Fuck off moron. You display your pure idiocy of knowledge by mentioning RSI. Real chartists don't use that crap.
BTW I will give you that the chart is looking attractive at this point and the major trendline is not far below. Entering around this area would certainly not be a 'horrible' descesion but id like to see it lower. I'm not blurting out my areas of interests find them on your own.
Are you forgetting that TA does not work in a manipulated market?
Fri, 12/21/2012 - 20:33 | 3088871
MeelionDollerBogus
My quantitative (not "technical" jargon "clouds in the sky") analysis works BECAUSE of a manipulated market. If it wasn't manipulated it wouldn't visibly repeat past charts:
277 weeks ago,
2012 06 18 277week roc 04 goldpricemodel trend-channel without prices
2012 06 18 277week roc 02 goldpricemodel 2011 Jan to 2012 Dec 28
52 weeks ago,
goldpricemodel 2013 roc 52-week
goldpricemodel 2013 projection
At least it's way easier than back when I had to use sine-waves (kernel function) to increase the R2,
Goldpricemodel 2010 July and Middle Video continues that one, 3rd video finishes the sine wave because of a phase & amplitude shift in the manipulation. Re-alignment restores R2 & model accuracy for prediction.
Oh really? I suppose that's why traders that acually make $ are all chart readers? Do you run with millionaire traders? I do.
Since you all like gold I told everyone here to buy GSS when it was just over a buck 6 months ago and that was a solid double.
Difference between a chart reader and you: I never would've piled in gold at the highs that's why you're all bitching.
While I expect no one here to take my advice I offer it anyhow just for amusement purposes of seeing how fucking stupid some of you are.
You all were in blast off mode when one of the greatest had the top plotted over 5 fucking years ago.
Also, the number of negative votes vs. positive votes prove that only a small % know what they are talking about. Have a nice day.
Fri, 12/21/2012 - 20:36 | 3088875
MeelionDollerBogus
"traders" ?
Says who? Jim Rogers makes money off gold and he doesn't give a damn about the chart, only the fundamentals. Who's a trader? What's your definition? Amounts? Margin? Time-frame? Direction(s) of trade?
He's talking T&A based on short term trading dollars exchanged for gold, not long term value.
As everyone knows, there is a buyer for every seller and all fiat currencies are always as good as gold...just look at the long term chart of this paper fiat ;-)
I don't understand (really, I do) how this is not plastered everywhere and demand to abolish the FED now!! Happy 100th birthday you mutherfukkers!
However just to make everyone happy I would have no doubt there is some sort of intervention but unless it's a one day wonder event the charts still hold and sometimes 1 day wonder events can be seen coming before they happen. It's entirely possible to read the future and it happens all the time.
Also I think you're most likely thinking it's being manipulated for the wrong reasons. They already know where things are heading they aren't trying to crash gold for reasons you state.................they want to buy gold at a lower price.
Were you aware that the Federal Reserve hires and maintains a staff of the best T/A traders that $ can buy?
Thu, 12/20/2012 - 18:03 | 3084258
Debeachesand Je...
Just buy the dips,just buy the dips.
Thu, 12/20/2012 - 17:17 | 3084129
THE DORK OF CORK
Thu, 12/20/2012 - 17:35 | 3084166
Quinvarius
According to Harvey Organ, the COMEX has been failing to subtract silver deliveries from dealer inventory at the COMEX as well. I am pretty sure the inventory at the COMEX doubles as SLV inventory thanks to JPM's double duty as a vault for both. But I don't follow the reports as closely as he does. I would bet the house that SLV and COMEX inventory numbers are fabrications and they are getting their bluff called.
FYI been swanning around africa for the last decade ( a brutal place where they have been suffering austerity x2.) guess what!! this internet malarkey has enboldened them to demand 20/50% wage increases for digging in them deep ( getting deeper ) dark holes. you know what this means ; costs of production are gonna rocket and inturn Prices of All the metals. Gone are the days ( well for the greatest part ) when the brothers are digging with bare hands for a bowl of gruel.
buy them dips
I'm sure gold and silver are being manipulated, and maybe more lately than always.
HOWEVER, maybe a lot of people have made a lot of money (on paper) on gold over the past few years, and want to take their profits now, before their tax rates rise.
If the selling stops instantly after December 31, 2012... that's one of the reasons for the recent action.
For now, time for anyone with fiat to back up the truck and take on physical gold.
Thu, 12/20/2012 - 23:21 | 3085425
Jungle Jim
The trouble is, I already backed the truck up, and now I'm all out of fiat. And I still have the rent and a lot of bills to pay.
Fri, 12/21/2012 - 20:47 | 3088901
MeelionDollerBogus
goldpricemodel 2013 projection perhaps in the future this will help your timing
Fri, 12/21/2012 - 04:10 | 3086023
sink critically
When you reach the end of your rope it's more than okay to view your investment as a savings plan. In other words, your stash represents a rainy day fund. If it's raining and there's an umbrella handy ...
Another option is to get busy starting a business or doing odd jobs for cash.
Parting with the precious is a powerful motivator for some.
Thu, 12/20/2012 - 16:32 | 3084010
Money By Trading
Thu, 12/20/2012 - 16:31 | 3084006
Joe moneybags
If any market is being manipulated, that means that someone is behind it, and that there is a method that they use. So WHO? and HOW? Please provide an answer with real evidence, rather than circular links to the many rants on the internet.
Fri, 12/21/2012 - 20:47 | 3088902
MeelionDollerBogus
evidence here: http://scharts.co/U1AFlo
Linear patterns in ROC indicates repeated price-charts from years' past.
Fri, 12/21/2012 - 10:07 | 3086428
AE911Truth
Supressing the price of Silver has been public policy of the US
Government since 1965.
Quote from President Johnson remarks while signing Coinage
Act 1965:
"If anybody has any idea of hoarding our silver coins, let me say
this. Treasury has a lot of silver on hand, and it can be, and it
will be used to keep the price of silver in line with its value in
our present silver coin. There will be no profit in holding them
out of circulation for the value of their silver content. "
Source:
http://www.presidency.ucsb.edu/ws/index.php?pid=27108
Thank you GATA for finding and presenting this fact.
In the case of Blanchard vs JPM, lawyers for the defendant chose to plead for dismissal of charges of manipulation based on evidence they provided the judge that they were acting on behalf of the Federal Reserve...
when somebody upstairs realized just what cat had been let out of the bag with this ingenious defence\self incrimination, things got settled up real fast, and the subsequent ruling by the judge imposed a sealing of all the evidence...that's as close as we've gotten so far.
I won't spend my time digging out all of the pertinent links...it's all there and easily accessible to the curious...proof of the sincerity of your request will be provided by your doing the homework.
Thu, 12/20/2012 - 21:35 | 3085028
Bay of Pigs
Joe,
You really want to learn something? Then read everything you can here at ZH, and also go read up on the Rothschilds, the FED, UST, ESF, COMEX, LBMA, JPM, GS, SEC, CFTC, etc...and then come back and talk to us.
I'd start with the Creature From Jekyll Island by G Edward Griffin. Good luck on your educational enlightenment and journey.
http://www.youtube.com/watch?v=bhMacPvc5qc
Hey bro....looks like the lunatics are in some deep chit to discount physical under these condidtions with the Chicoms accumulating and virtually all CBs starting to wake up.....they've been at it a long time so I suppose they have a good reason. stay well....can't believe I had another year to accumulate silver at these prices.
"So WHO?"
TPTB.
"and HOW?"
By offering, on paper, at any moment, half of the gold ever mined.
Have you ever traded anything?
Thu, 12/20/2012 - 16:18 | 3083948
IamtheREALmario
They have to buy what they sell ... especially if they sell it first. So, they need to buy at a lower price than they sold at. Where is the question?
I call it inflatulationary whiplash.
You gotta build up gas before you launch it.
You gotta pull the string back on a bow before you can launch the arrow.
Sure; I don't doubt there is manipulation. but deflationary pullback is also a strong factor at the moment.
lemonobrien: They ALL sell their contracts at the exact same times of day, every day, and all in a way that guarantees losses for them? Wow, I guess investors are just all retards.
Thu, 12/20/2012 - 16:26 | 3083984
The_Euro_Sucks
Yes I do it too. I wake up get a breakfast and after that I sell gold. When back from lunch I sell gold. Then right before dinner I always feel the urge to sell gold. Then before going to bed I also sell gold. Sometimes when I wake up from a nighmare I also sell some gold.
For me its heartwarming to see so many people on the globe have the same rythem in their daily life as mine. If I was alone it would be impossible to see markets like this.
Thu, 12/20/2012 - 15:39 | 3083774
Richard Whitney
In the late 90's, with gold at about $278, the same gold-is-manipulated conspiracy theories were popular.
Gold has been a 5-bagger-plus since then. What was the manipulation?
How is it that when Apple sells off, Apple deserved it, but when gold sells off, some cabal did it?
Thu, 12/20/2012 - 19:17 | 3084439
WhiteNight123129
Very true, but the entire Silver ETF complex is about 18 billions, you could not even squeeze Zynga when IPOed in the entire Silver ETF.
So if you have 1,200,000,000 above ground ounces of Silver, that is 36 billions of which the majority goes for industry. Where is the bubble?I am not saying that Gold and Silver are cheap, but there is no bubble here. Assuming you mine about 750 million ounces of Silver a year and assuming AAPL at 700 USD, you would need what 29 years of mining at the current price of Silver and at today s rate of 760 million ounces to equate the market cap of AAPL when it was trading at 700 USD per share.
Ok granted there is scarp Silver and there is increase in production, but I am sure you get the idea, you would need a few hundred years of Silver mining to equate the entire paper assets? 210 trillions of debt wordlwide, versus 22.8 billion of Silver dug out of the ground each year. putting aside teh scrap and increase in mining quantity, you need 9,210 years of Silver digging to equate this quantity of paper at 30 USD per ounce... Duh!!!!
Thu, 12/20/2012 - 18:40 | 3084352
Hugh_Jorgan
Assuming your comment is genuine... it is time to spend some time on commodities and history education there, Richard. Although some would try to trade them like Apple or Amazon, Gold and Silver are not your run-of-the-mill securities. Precious metals are the end of the line when the banking establishment loses its collective mind like they have today and think that they can solve any problem by coordinated debasement of the world's currencies.
One thought that uh comes to mind is yes they did and yes they do, arent you supposed to still be breaking rocks in upstate New York Mr Whitless?
One thought that uh comes to mind is yes they did and yes they do, arent you supposed to still be breaking rocks in upstate New York Mr Whitless?
Thu, 12/20/2012 - 16:23 | 3083973
Joe moneybags
Your exactly right, Mr. Whitney. Gold and silver charts show the same zig and zag, both in amplitude and frequency as other commodity charts. The basic bull uptrend is apparent, with the expected corrections. The articles on the gata site simply repeat the same assertions that these metal prices are manipulated, with no material proof.
Thu, 12/20/2012 - 17:44 | 3084198
LynRobison
Oh yeah. No doubt. The U.S. dollar is the way to go. $16 trillion federal debt. $84 trillion in unfunded federal obligations. $1 trillion in additional debt and $7 trillion in additional obligations every year for as far as the eye can see. No problem. That paper U.S. dollar is as solid as rock -- it's as good as gold. In fact, it's better than gold. There is no way that the dollar will ever lose its value. You can take that to the bank! Oh yeah, and banks are absolutely rock solid too. Your paper and electronic dollars in the hands of the big banks -- a winning combination for your financial future!
Thu, 12/20/2012 - 21:55 | 3085134
H E D G E H O G
Lyn (like your avitar), please denote <sarc> for "MillionDollarBonuses" NEW "redheaded stepchild, Joe MoneyBags.
Ever consider a shot at remedial reading you never know blithe spirit
Thu, 12/20/2012 - 17:14 | 3084125
Bay of Pigs
Really? Wow, great insight Joe. Thx.
Well, with silver and gold, there is proof of manipulation. please go to www.gata.org and read the articles. The references to manipulation are not fantasy, they are published in black and white by internal government and FED documents.
Thu, 12/20/2012 - 19:35 | 3084560
WhiteNight123129
Actually there are documented evidence of attempt to prevent Gold trading with the June 21st 1864 law.
http://gentlemaneconomics.wordpress.com/wp-admin/post.php?post=315&actio...
There is also the constraints put and Gold embargo from September 7th, 1917, to June 10th, 1919.
http://gentlemaneconomics.wordpress.com/2012/04/29/there-is-no-manipulat...
There are memos that zerohedge was showing about what governments were doing in the 70s.
Come on, read history. All governments in trouble have attempted to manipulate Gold, all attempts failed eventually.
Thu, 12/20/2012 - 15:27 | 3083734
Joebloinvestor
They will crash the paper gold and silver market before they will admit the FIATs and their policies are failing.
Thu, 12/20/2012 - 15:27 | 3083731
Blue Horshoe Lo...
Central bank paper is what humans will eventually wipe their asses with.
Let me see, you have Japanese pension funds buying paper with no possibility of taking possession. You have the new China etfs, you have money being printed and in the hands of CB's to invest wherever they want and they need to suppress the price of gold and silver.
Gold on the comex has yet to draw down the dealer inventory, even though 9.8 tons have been delivered. Silver is even worse. What are they delivering?
Yet, look for one ounce gold pieces or 40% and 90% silver coins- sold out.
There is something going on, but this writer has no idea what it is and it will be interesting to find out. I'm sure they will let us know when they have already locked it all in. Until then, we get to read moronic articles like this.
Consequently, I prefer to focus on fundamentals. Gresham's law.
The UK is showing a serious silver trade deficit this year (a Proxy for Gold movements)
Who is really buying in such quantity ? .....and why
Silver trade balance UK (£ millions)
Y2002 : -165
Y2003 : -3
Y2004 : -80
Y2005 : +87
Y2006 :-577
Y2007 :+232
Y2008 :+1,169
Y2009 : -1,560
Y2010 : -108
Y2011 : -451
Ok now look at Y2012 so far – a different beast, so far at least.
Q1 : -473
Q2 :-1,372
Q3 : – 1,256
October : -440
http://www.ons.gov...er-2012/index.html
PS look at the silver trade deficit in Y2009
What happened to silver in 2010 & early 2011.
I would not bet the house on it but something else is in the water.