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        

Comments

[vamoose1]

given anny  consideration to  forever?

[lemonobrien]

no, cause eventually, they'll start to want to take delivery. and that's when the bullshit starts blowing up.

now, it's a volatility game; just go to cash, wait.

[Enslavethechild...]

The big dogs always sell a boat load of counterfeit paper GLD to drop the price of GOLD before they buy themselves tons of the shiny yellow metal.

BUY Bitchez!

[jeff montanye]

per jesse:  The one (explanation for this year and last) which I favor is that if a certain party is carrying a enormous, and losing, short position, one of the ways to manage the end of year mark to market would be to smack the price down as much as possible, and cover at least part of the short position going into year end, ending around Dec 26 or 27 given the "Buy to Close" rules.

This also provides a method of gaming that long term short position. Not only do you get to mark it at a lower price, but you can 'trade around it,' picking up metal on the cheap as weaker longs capitulate and toss it at the bottom. And the momentum wise guys get in on the action, the trading desks start spreading their rumours and deploy their useful idiot analysts and talking heads, and we have a major price bottom in the making. http://jessescrossroadscafe.blogspot.com/2012/12/gold-and-silver-smackdo...

also whistleblower and long time trader andrew mcguire has three excellent comments on king news.  this is one:  http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/20_W...

central banks like china, taiwan, south korea, hong kong (foreign reserves separate from china), singapore, even brazil and saudi arabia, are overflowing with dollars but have little gold and are diversifying:  http://en.wikipedia.org/wiki/Gold_reserve (beware the large double counting, i believe, in the eu reserves, apart from the question of how much u.s., british and eu gold is leased and, hence, really gone.

[GetZeeGold]

gold is leased and, hence, really gone.

But the boys at J.T. Marlin promised me they would give it back.

[Mr. Mandelbrot]

Extend and pretend . . .