This page has been archived and commenting is disabled.
The Weekly Dose of Gold & Silver Market Manipulation
This strange event happened this past Tuesday in the COMEX New York markets but I didn't have time to post it until now. Not much to add here in the commentary that the pictures don't say themselves, except that market prices of two different assets do not plunge in tandem by 1.2% within a matter of half-an-hour or so at precisely the same time and then gain everything back in the next two hours if their prices are set by free and fair markets. In regard to the buzz on the blogosphere this week regarding rebuttals to gold and silver market manipulator deniers, I believe that a lot of gold/silver analysts that deny gold/silver market manipulation actually believe, and firmly believe, that the gold/silver markets are manipulated. How can you not believe, given the numerous instances of tens, and sometimes, hundreds of millions of paper silver (and paper gold) ounces dumped in the futures markets immediately before intra-day crashes in price that occur on a nearly weekly basis now? In the face of all the evidence, including documented minutes of the US Federal Reserve that actually admit to gold/silver market rigging (just refer to any of a number of GATA publications), the gold/silver analysts that continue to deny market rigging would:
(1) either have to possess so little critical thinking ability that they also believe that OJ Simpson was innocent of murdering Nicole, that Santa delivers gifts to billions of households in one night on Christmas Eve, and that a flying tooth fairy delivered money underneath their pillow when they were a child; or
(2) simply have chosen to deny manipulation as a pure Machiavellian business decision.
I believe that the reason for continued denial of gold/silver price suppression schemes from gold/silver analysts today is answer (2).
Rather than expose the truth about the corrupt and criminal banking cartel's price suppression schemes and help people understand the reality of rigged gold and silver markets, those that continue to deny gold/silver price suppression schemes and whose business depends upon analysis of gold and silver realize that such an open and honest stance is not the opinion of the mainstream masses. Thus, they know openly speaking about this would hurt their business sales, and perhaps quite significantly. After all, the sweet spot of money to be made for any business lies within the mainstream and popular view. As long as one can "sell" one's belief in this view, even if one may not really believe it, then one can keep convincing the largest market share to buy. And this is the REAL reason why I believe that many intelligent gold/silver analysts out there continue to publicly deny gold and silver manipulation while likely privately harboring an opposition view. Still, all the attempts of the banking cartel to suppress gold and silver prices remain subject to the Law of Diminishing Returns, and gold and silver, while still range bound at the moment, will break free and continue their upward trend soon enough.
About the author: JS Kim is the Founder & Chief Investment Strategist of SmartKnowledgeU, a fiercely independent, precious metals focused investment research & consulting firm dedicated to exposing the fraud of the global financial system and helping clients build wealth by understanding truth.
»
- advertisements -
+1
Maybe this is easy enough to figure out. J.P. Morgan has a big short position and they're just trying to protect it. Is there a better rationale for why the metals seem to have mini flash crashes every morning in spite of record deficits and money printing?
Bart Chilton spoke yesterday on Comedy Central (CNBC) about one trader having as much as 30% of the open interest in silver. Since that's out in the open and no one does anything about it, manipulation talk will continue. Hard to argue against it.
well...so far it appears to be a pretty unsuccessful "manipulation." let's look at lumber while we're at it:
http://seekingalpha.com/symbol/hd?source=search_general&s=hd
Exactly; if you subtract out the numbers during the "wonderfulling significant event" the author is so excited about; the price at the end of the day remains unchanged; the weekly average price remains unchanged. The metals boosters, almost none of whom know anything at all about the metals or their market, are getting wackier every minute tht their "precious" doesn't make wonderful new highs. Tough Shit. The man's a complete fool.
He's not a complete fool. You have retained the balance of any foolishness that he lacks. Let others run the numbers on that ratio.
What SAT800 doesn't tell you is that his name refers to his combined score.
There are some real stupid fuckers that post here on the PM threads.
They have the attention span of a gnat.
I've been watching these seemingly large volume swings for what seems like months now. Reminds me of the Peanuts comics..."If we can just kick the can a bit harder maybe we can get it over this wall.......nope. Oh well, try again Charlie Brown."
Charts exactly like this existed twenty years before there any manipulation conspiracy wackos; I know because I was alive and trading them. It's just another example of Internet Wisdom; "All my friends say so, so it must be true"; sorry, Alice, that's not the way reality works.
You mean during the London gold pool, the last big attempt to try and stop gold from moving up, you saw charts like this? AMAZING. Obviously you have proved the case against government gold interventions, even though gold interventions actually appear on some banker's job descriptions.
The attempts to influence gold prices are real and they will fail again...or rather, paper money will fail again.
You mean, humans did the trading back then, grandpa!? That's amazing!
BTW... I junked ya for claiming to be alive at one time, Zombie.
The people that are buying GOLD are the sane ones. You would have to be a WHACO to sell gold at this time in the game.
Exponential Paper Ponzi = Exponential eventual rise in the price of physical gold.
The price of gold on average is directly porportional to the M3.
The biggest dam ever built is about to give way.
Where do you want to be positioned?
Funded 2 IRA's with GLD on Tuesday, cocksuckers don't know that I can wait 5 more years to enjoy my profits. Hope the ETF market is still around in 5 years when I retire.
bullionvault.com, which you can google; does exist and is IRA certified; they will hold on to Silver Bullion for you in a vault in London that you can sell in whatever amounts you want on their online market; very convenient; and they will be around and so will your silver in five years. Only stupid people buy Gold; governments are very interested in Gold; nobody cares about Silver; plus it will appreciate more in value.
Britain is totally controlled by the NWO. They will raid BullionVault to keep the City's ponzi going for just one more day. Even if the metal is in Switzerland, I wouldn't trust it to a company whose managers and main office are sitting ducks for British pigs.
Xrated: Try a self-directed IRA.
Xrated: If you have bought GLD, you have not done your research and have acted opposite to your interests!
X, give heed to what Pladizow says; GLD is not in any way an investment in gold bullion. Read the prospectus: "gold investments", "do not audit", "do not require audits of custodians or subcustodians"....
GLD is a vehicle for suppressing the price of gold through paper sales, leveraged short positions and cash settlements. Bait and switch to the bone.
I would just like to mention that "SAT 200" is a compound imbecile.
Only stupid people buy Gold
What is this guy going to post next?
@ x-rated, you funded 2 IRA's with expensive gold-like air.
Who bought Italy's 32 tons of gold? The IMF? The Swiss? Bankfein?
The post would be more fun if you included the volume. What % of the world's yearly gold mining output does that drop represent? That would make me happy because that manipulation was such an epic fail and what did it cost them? You sell off the paper equivalent of some midsized country's national gold reserves and all you get is a couple hours of dip? This is what the great wall of China looks like. Asia will buy every dip they make until the West has no gold left. I think the guys in the banks are starting to sweat bullets now because they see the game is NO LONGER WORKING.
"What % of the world's yearly gold mining output does that drop represent?"
Or, silver for that matter. The manipulators are so used to creating the appearance of assets out of thin air that they have forgotten metals are mined and mining has limitations. These are the same leaders who possibly believe that Saudi Arabia can instantly pump more oil to make up any shortfalls due to Iran....
These manipulators have never gotten their hands dirty with a real job where reality meets the bs.
Indeed.. an accompanying snapshot of the volume of sell orders in context with the longs, the averages and the total size of the paper market in contrast with physical production would buttress the argument for manipulation, or perhaps more beneficently phrased in the words of a young Swiss banker, “intervention”.
They can dump all the paper shares they want.
Soon the physical metal will no longer be available at your nearest bullion dealer at any price.
WHY?
Because everybody knows that once the Ponzi reaches its finality, WE THE PEOPLE are going to need Physical Metals to start a new currency.
AND WE WILL
Hmmmm, should I buy PMs that are being kept down in price by the full force of the FED, CME, and other central banks, or should I buy real estate and stocks, which are being propped up by market interference, the FED, and the media?
Buy arable land first, plant a garden and start storing food. Then buy precious metals if you still have cash lying around. The shit is hitting the fan, and people are lining up in front of soup kitchens in record numbers. If a loaf of bread is $5 now, it will be $50 a loaf a year from now. Got food?
Your land could easily be taken from you, salted or you could be robbed or forced to re-locate.
Before you get the land get the gold, stored food you can carry and work out enough you can actually carry it. Get ammo, a passport and a bug-out vehicle. When you got all that THEN look at arable land - you may need to run and you can carry gold & food but NOT your land.
I have a Swiss Chard plant 4 feet tall and 4 feet across. I can't give the leaves away, even though at Whole Foods they get over 50 cents a leaf.
Duo, well said
..but the way America is going (soon the IRS can snatch your Passport and prevent you from leaving 'The Land of the Free' if they even suspect you've a tax bill outstanding) will US citizens be able to hang onto any asset that the drowning parasites of politics desire to repay their unpayable debts?
Either scenario works until it does'nt. Got timing?
So what!
It just makes it cheaper to buy? Get out of the kitchen if you can't take the heat.
Many fish bought at 1900 and are caught long.
The pumpers are to blame more than the manipulators.
They told Joe idiot that 4500 was around the corner.
Why is there no criticsm of them?
It is what it is.
James Turk is one of the worst offenders in this regard. Silver to $70, to $100, to $150, Real Soon Now.
Yeah whatever. I am all in on gold and silver bullion. No stocks. I even have small GoldMoney account.
But now I refuse to read anything by James Turk.
King World News, yes. Jim Sinclair, Jim Rickards, Chris Whalen, Marc Faber, yes.
But James Turk? Fuck off.
Marc Faber called for a 20%+ correction in the gold market. He was way ahead of that trade. Still sees more possible downside for precious metals... Why the hate?
James Turk is only talking his book as GoldMoneys representative at Ramp Radio, King World News
before the ramp on 28th Feb the ever breathless Eric King primed James Turk and both came out with the "incredible power under the market" lines
the power turned out to be over, not under, the market as prices fell through the floor these hopium-junkies were standing on but that didn't stop these 2 turkeys... post the 28th Feb smackdown Turk and King were talking about how "unbelieveably quiet the markets are" ...where'd the "incredible power" go boys??
KWN and its high on hopium guestlist are best ignored
Add that ass Jim Sinclair to the list.
You aren't the only one to notice it:
http://www.coinweek.com/commentary/opinion/major-gold-and-silver-price-suppression-now-a-weekly-occurrence-so-what/
Thus, they know openly speaking about this would hurt their business sales, and perhaps quite significantly. After all, the sweet spot of money to be made for any business lies within the mainstream and popular view. As long as one can "sell" one's belief in this view, even if one may not really believe it, then one can keep convincing the largest market share to buy.
Is this your business model JS KIM but the opposite way?
Why don't all you troll son of a bitches get a life?
TROLL
The rigging of the gold and silver markets just makes possible to save in metals, every month. The prices are simply ridicuously low... Blablablythe, carry on, baby, give it to us!