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Gold & Silver Plunge Deja Deja Deja Vu

Tyler Durden's picture


Whether it is leveraged AAPL traders forced to sell winning collateral to meet margin calls, correlation-driven algos running stops down and up, or simply the whims of worried custodians managing risk for their clients' holdings; one thing is sure - someone (or more than one) has been a size seller of precious metals in the US-day-session-open to Europe-close period for four days in a row now...



Charts: Bloomberg


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Fri, 11/16/2012 - 12:03 | 2987958 Bay of Pigs
Bay of Pigs's picture

It almost looks like a pattern?

Fri, 11/16/2012 - 12:08 | 2987971 nope-1004
nope-1004's picture

Real money under attack, yet fiat allowed to multiply.  Gov't ruled by pigs.




Fri, 11/16/2012 - 12:08 | 2987995 ParkAveFlasher
ParkAveFlasher's picture

Still shiny.

Fri, 11/16/2012 - 12:10 | 2988014 mjorden
mjorden's picture

Shiny & Cheap

Fri, 11/16/2012 - 12:13 | 2988031 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Like $32 hookers.

Fri, 11/16/2012 - 12:21 | 2988094 Thomas
Thomas's picture

You might be wrong but you would not be considered imbalanced if you believed that somebody was intentionally monkey hammering the metals.


As an aside, BTFD.

Fri, 11/16/2012 - 12:31 | 2988158 Manthong
Manthong's picture

They can sell all the size in confetti paper that they want.

The day will come when those that trade paper will get pallet loads of it when they try to stand for delivery of the metal that does not exist to cover to the Super Post Panamax boatloads of paper..

Fri, 11/16/2012 - 12:42 | 2988227 BaBaBouy
BaBaBouy's picture

One Word ...


M A N I P U F U C K I N G L A T I O N ...

Fri, 11/16/2012 - 12:45 | 2988242 Coldsun
Coldsun's picture

Good use of tmesis.

Fri, 11/16/2012 - 13:02 | 2988348 tocointhephrase
tocointhephrase's picture

Like MDB was saying yesterday



Fri, 11/16/2012 - 13:04 | 2988358 Kick_the_Kan
Kick_the_Kan's picture

Those fraudsters ruling the gold and silver exchanges are playing directly into the hand of buy the dip eastern buyers. It's getting to the point where they don't even seem to care.....fleece the long specs and keep the gold and silver price under control at all cost.....not alone is it blatant fraud, it is also treachery as there will come a day when the Chinese will make known that they have drained the west of physical gold and silver...then us in the west will be in worse shit then we are now. Everything to protect the mighty fiat dolla. rWell done the bullion banks, backed by the western central banks. May as well just hand over the deeds of the property to the Chinese. While it has allowed people like myself to accumulate cheap metal it is getting fuckin ridiculous at this stage.

Fri, 11/16/2012 - 14:35 | 2988853 Stuart
Stuart's picture

what? R U suggesting a conspiracy??  those aren't real, at least that's what they said on CNBC.......  BEFORE LIBORGATE!   But nooooo,,... they never take place in the precious metals markets.   

Fri, 11/16/2012 - 14:20 | 2988774 TheCanadianAustrian
TheCanadianAustrian's picture

Just placed an order for $4k worth of gold, silver, and platinum maple leafs today.

Fri, 11/16/2012 - 19:56 | 2990097 Big Slick
Big Slick's picture

Pretty!  Especially the leaf side.

Fri, 11/16/2012 - 12:17 | 2988068 GubbermintWorker
GubbermintWorker's picture

And the vast majority of fiat, over 95%, is in digital form! They don't even use paper any longer!

Fri, 11/16/2012 - 13:25 | 2988475 TeamDepends
TeamDepends's picture

Shhhhhhh....  quiet.  The masses are sleeping.

Fri, 11/16/2012 - 14:49 | 2988937 Stoploss
Fri, 11/16/2012 - 12:09 | 2988001 knukles
knukles's picture

Mayhaps one of the bullion banks?
On behalf of some desirous to remain unknown anonymous major non commercial interest with a somewhat politically motivated interest in perceptions management to ensure that no further alarm bells begin shrieking too loudly "As the World Turns" to poop?


all coincidence....

back to work slaves...

Fri, 11/16/2012 - 12:19 | 2988082 disabledvet
disabledvet's picture

There's a lot of...ahem..."productive capacity" Europe and Japan. God I love of a gold standard...and God help me but it does appear we have some derivation there of insofar as the Dollar Bloc goes.

Fri, 11/16/2012 - 12:12 | 2988021 kliguy38
kliguy38's picture

Yes it is.....and I want to take this time to thank uncle Cartel for giving me an extra year to accumulate physical.......once again thank you boyz

Fri, 11/16/2012 - 13:24 | 2988472 TheAntiBen
TheAntiBen's picture

This years winner for "Most helpful US business to US consumers" is..... (drum roll) JPMorgan!!!! for manipulting the markets long enough to [still] allow US consumers to stack physical PM's at a fraction of where they should be.


And this years winner for "Most hurtful US business to US consumers" is..... (drum roll) JPMorgan!!!! for manipulting the markets long enough to allow eastern countries to take all our PM's from our vault's, thereby crashing our economy, or at the least, making our life that much worse when it does happen since the US will be broke...


Congrat's JPMorgan, you've done it again, a WIN in two major categories...



Fri, 11/16/2012 - 12:17 | 2988026 Sunshine n Lollipops
Sunshine n Lollipops's picture

You're crazy, Bay. Or maybe not.......

Fri, 11/16/2012 - 12:13 | 2988035 unwashedmass
unwashedmass's picture


SOMEONE?  i mean, come on. we all know who...we all know why. December should be sumpin else again. 

Fri, 11/16/2012 - 12:04 | 2987961 camaro68ss
camaro68ss's picture

get it as its cheap

Fri, 11/16/2012 - 12:09 | 2987977 hedgeless_horseman
hedgeless_horseman's picture



That is what Michael Dell said.

Down 41% over last 6 months.

Fri, 11/16/2012 - 12:04 | 2987963 Madcow
Madcow's picture

i don't buy the gold price conspiracy stuff.

if the money stock is simply evaporating, then it makes sense that ALL assets will collapse - 

if we can assume that governemnts will stop spending money to reflect the new reality of deflationary collapse - then there's no reason gold should not fall back to $500.

Fri, 11/16/2012 - 12:06 | 2987979 Aziz
Aziz's picture

"if we can assume that governemnts will stop spending money"

Why the hell would you want to assume that? 

Fri, 11/16/2012 - 12:08 | 2987990 flacon
flacon's picture

There is a fine line between zero and infinity. Gold is currently trading at ZERO denominated in ZIMBABWE DOLLARS. It might happen in USA too. 

Fri, 11/16/2012 - 13:37 | 2988549 tocointhephrase
tocointhephrase's picture

And that day cant come too soon

Fri, 11/16/2012 - 20:00 | 2990114 Big Slick
Big Slick's picture

"There is a fine line between zero and infinity."  I have a headache.  Your profundity is making it worse.  :)

Fri, 11/16/2012 - 12:08 | 2987988 fuu
fuu's picture

"if we can assume that governemnts will stop spending money to reflect the new reality of deflationary collapse "



 Ben monetized $3,060,000 since you posted that happy horse shit.

Fri, 11/16/2012 - 15:09 | 2989017 robertocarlos
robertocarlos's picture

What is he doing with it as in that same time period the value of all US housing assets has dropped $4 billion. Your Twinkie factory is worth much much less too. Not to mention any labourer is worth less every single day.

Fri, 11/16/2012 - 16:11 | 2989323 fuu
fuu's picture

None of that stops the spending.

Fri, 11/16/2012 - 12:15 | 2988051 GubbermintWorker
GubbermintWorker's picture

Assume that goverments stop spending money? Benny won't let that happen!  I really see the effects that madcow disease has on thinking ability.

Fri, 11/16/2012 - 12:20 | 2988089 Overfed
Overfed's picture

Governments not spending money.....sure; right after the monkeys start flying out of my butt!!! LOL!!!! ROFLAMO!!!!!!!

Fri, 11/16/2012 - 12:21 | 2988102 Northeaster
Northeaster's picture

"if the money stock is simply evaporating"

I am by no means an expert in all things finance, and I'm aware FRED data did away with M3, but how does this chart show "money stock" evaporating?

While not heavily weighted in PM ownership (physical), I do have it as a portion of my portfolio. I won't sell it, so even if everything turns out well, I just will it to my kids, no big deal, PM's will always have value, regardless of price movement.

I also don't believe our government will do anything significant about the debt/spending. However, I think they can play this game far longer than people realize, but at a tremendous cost.

Or, I have just been trolled.

Fri, 11/16/2012 - 12:35 | 2988185 chubbar
chubbar's picture

Don't put it into your will. Just leave them a note telling them where it is buried. It's none of Uncle Sams business.

Fri, 11/16/2012 - 12:25 | 2988124 Silver Garbage Man
Silver Garbage Man's picture

The only people selling PHYSICAL METAL are people desperate for cash or people who have no idea why they had the metal in the first place.
The day before the election the Dow was worth 420 ounces of silver, today it is worth 388 ounces. That trend will continue.

Fri, 11/16/2012 - 12:47 | 2988261 Harbanger
Harbanger's picture

SLV and GLD ETFs are being sold to cover losses in the market.  That's good news for buyers of physical.

Fri, 11/16/2012 - 16:34 | 2989465 klockwerks
klockwerks's picture

Man madcow, I hope your right and that would be cheap enough for me to jump and buy instead of just silver

Fri, 11/16/2012 - 16:38 | 2989485 TWSceptic
TWSceptic's picture

let's just say you picked the correct nickname

Fri, 11/16/2012 - 12:29 | 2987965 VonManstein
VonManstein's picture

All is well BTFD!

a reversal should be here shorlty. Charts look strong to me and Tech support is remaining support. gold has a $70 IHS Right shoulder being filled in now (if your into that sort of thing)

Fri, 11/16/2012 - 12:06 | 2987973 urbanelf
urbanelf's picture

Fucking reptoids.

Fri, 11/16/2012 - 12:14 | 2988037 knukles
knukles's picture

Annanuki Reptiods...
As was foretold on the Sumerian Tablets as decoded by Zachary Shitchins and properly elucidated upon by David Icke.

(to sarc or not to sarc, that is the question, whether is nobler.....)

Fri, 11/16/2012 - 13:20 | 2988451 Nobody For President
Nobody For President's picture

Oh just stop it Knucks, or arrows and slings will be flung at you.

Fri, 11/16/2012 - 15:39 | 2989142 knukles
knukles's picture

Took me quite a pause to get it....


Fri, 11/16/2012 - 15:12 | 2989022 robertocarlos
robertocarlos's picture

I understand we were genetically engineered and placed on this planet to mine gold for them.

Fri, 11/16/2012 - 15:42 | 2989154 knukles
knukles's picture

Therefore by pure Syllogistic Logic (derived from the Knukleodian term, "Silly", as in if A=B and B=C the A=C and whateverthefuck you want to have happen, happens) then we're here to mine gold for the Central Bankers!

Fri, 11/16/2012 - 12:06 | 2987976 Cognitive Dissonance
Cognitive Dissonance's picture

Taking profits, risk off, fear......whatever plausible excuse they want to use in order to control paper fiat's Kryptonite.

Fri, 11/16/2012 - 12:07 | 2987987 pods
pods's picture

I guess they flash-sold PMs and bought FB stock?

Somebody pinch me, please.


Fri, 11/16/2012 - 12:46 | 2988251 The Shootist
The Shootist's picture

It's face-fuck time!

Fri, 11/16/2012 - 12:09 | 2987997 zilverreiger
zilverreiger's picture

the relinuts at tfmetals said it's the iron dome and then pretended they didnt understand a poster pointing out their reuse of propaganda

Fri, 11/16/2012 - 12:09 | 2988000 Eternal Complainer
Eternal Complainer's picture

Buy Physical on the dips my bitchez!

Fri, 11/16/2012 - 12:10 | 2988004 krispkritter
krispkritter's picture

I hope silver and gold remain at these levels until the Big Bang goes off in Benny's printing press. More time to stack and more time to convince people TO stack. I think it gives the little guy a chance to acquire while the parasites in finance focus on big scores and raiding each other. By the time the Eye of Mordough turns to us, everything will be safely stashed in the bottom of a lake somewhere...

Fri, 11/16/2012 - 12:12 | 2988019 bania
bania's picture

...and someone (or more than one) has been a size buyer of precious metals...

Fri, 11/16/2012 - 12:17 | 2988066 swissaustrian
swissaustrian's picture

Commercial short covering in a sidewards market before the take off. COT data indicates covering has started about 3 weeks ago, but needs some more to go to reach historical precedents. When they're finished it's rally time for pms. This happened multiple times during the current bull market.

Fri, 11/16/2012 - 12:13 | 2988034 Dr. Engali
Dr. Engali's picture

Just checked my stacks and they are still there.

Fri, 11/16/2012 - 12:16 | 2988062 unwashedmass
unwashedmass's picture


me too....and funny thing, local coin dealer just called and asked if i want to sell him anything....seems he's beating people away from his doors....and he's got nada.....

gee......the real stuff seems to be disappearing Jamie....whatcha gonna do, Blythe, when no one wants your paper? they want the real thing...

and worse....anything you give 'em honey, they are going to want tested.....

whatcha gonna do? 

Fri, 11/16/2012 - 12:22 | 2988108 Overfed
Overfed's picture

Same story here. My local guy had all of 20 junk quarters and two dimes yesteray, and zero bullion, zero gold. Says he could turn his inventory three times a day if he could get it.

Fri, 11/16/2012 - 12:43 | 2988230 chubbar
chubbar's picture

I don't see why these guys don't just get inventory from Apmex or one of the big outfits? I mean they mark up way more than these outfits and could make at least some money instead of none waiting for wholesale inventory restocking. They could even do business by making customers pay now and wait for delivery at the higher mark up thereby taking any risk to them out of the equation. Not sure why someone wouldn't do this?

Fri, 11/16/2012 - 12:53 | 2988297 Overfed
Overfed's picture

I'm just a po' disadvantaged black man. I can only buy $100-$200 worth  at a time, so it's not really feasable for me. Plus I like to pay cash, no receipt.

Fri, 11/16/2012 - 13:37 | 2988548 Abitdodgie
Abitdodgie's picture

My guy can get anything , he does say there is a bit of a wait on junk silver but that is it .

Fri, 11/16/2012 - 13:18 | 2988444 petolo
petolo's picture

Shovel Ready here.

Fri, 11/16/2012 - 12:14 | 2988038 swissaustrian
swissaustrian's picture

Silver's outperforming gold on the downside. Pretty rare. Silver's unch over the last 4 days, gold is down.

Fri, 11/16/2012 - 12:14 | 2988043 Burticus
Burticus's picture

Dang, I might just have an opportunity to back up the truck for some cheap physical silver bullion again (lke this summer) using some December bonus FeRNs!

Go bankster cartel!

Also, still on sale at your shady internet ammo dealer ~ lead.  "Lead, the other white metal."

An "elephant gun" will work fine on jackasses, right?

Fri, 11/16/2012 - 13:24 | 2988468 petolo
petolo's picture

Not worth wasting good ammo on those miscreants. I have a team of workhorses that are real good at pulling heavy logs. They should be able to handle a dozen banksters and a few politicians to boot.Corzine will get the chain of honour . 

Fri, 11/16/2012 - 12:15 | 2988053 tooriskytoinvest
tooriskytoinvest's picture

meanwhile the US ain't leaving Afghanistan till at least 2024!! U.S General says he will NOT obey Obama's orders to withdraw troops from Afghanistan

it means more spending and more money printing.


Fri, 11/16/2012 - 12:19 | 2988084 SilverMoneyBags
SilverMoneyBags's picture

Then Obama will replace that General. I'm sure they can dig up dirt like they did Petreus.

Fri, 11/16/2012 - 12:25 | 2988121 Overfed
Overfed's picture

The big banks, MIC, CIA, and the DEA want us in Afghanistan, and in Afghanistan we shall remain.

Fri, 11/16/2012 - 13:07 | 2988370 NidStyles
NidStyles's picture

More likely they are creating a scene to make it look like Obama is fighting the good fight and meeting resistance everywhere. Most Victim Mentality, Guilt Trip BS.

Fri, 11/16/2012 - 12:15 | 2988057 realtick
realtick's picture

It must be that evil cartel Shithead Ferguson is always whining about

Fri, 11/16/2012 - 12:18 | 2988076 SilverMoneyBags
SilverMoneyBags's picture

The price is probably being slapped down by market makers, not banks.

Fri, 11/16/2012 - 12:19 | 2988083 venturen
venturen's picture

So I can take printed money and short real precious metals....what a grand world we live in!

Fri, 11/16/2012 - 12:20 | 2988090 Quinvarius
Quinvarius's picture

That is what happens when you let JPM handle your sell orders in PMs.  Why anyone would use their services for any sort of hedging or trading in PMs is beyond me.  All they do is front run your order, which they then execute in the worst possible way.

Fri, 11/16/2012 - 12:20 | 2988098 Bastiat
Bastiat's picture

Off topic but it looks like Petraeus is sticking it to Obama on Benghazi.  Gives credence to the scenario of him calling their hand when they tried to use the affair to blackmail him into telling and admin friendly version.

Fri, 11/16/2012 - 12:23 | 2988109 IridiumRebel
IridiumRebel's picture

I'd be everywhere on every "news" outlet stating the truth and that if anything happens to me it proves THAT THEY ARE FUCKING CORRUPT FUCKERS. BRING THEM DOWN


Fri, 11/16/2012 - 16:36 | 2989471 marathonman
marathonman's picture

Petraeus seems to have their collective nuts in his hand at the moment.  I'd like to see him give a good tug and twist.  Not that anyone has been able to land a punch on Obama with the media in full propaganda white wash mode.  It's really quite amazing to watch those liers and assholes in action.  It's even more amazing that they think that they still have an ounce of credibility.

Fri, 11/16/2012 - 12:21 | 2988100 IridiumRebel
IridiumRebel's picture

To the beat of the rhythm of the night! 

Fri, 11/16/2012 - 12:21 | 2988105 Deo vindice
Deo vindice's picture

This is a gift for all those who held PM's and lost their holdings conoeing last summer, so they can restock.

(Maybe spend a couple of dollars on canoe lessons first)

Fri, 11/16/2012 - 12:26 | 2988116 Kaiser Sousa
Kaiser Sousa's picture

alright, let's get one thing straight...


its gotten to the point where im just not gonna even monitor the phony paper price cause all it does is piss me the fuck off even though i know as long as i keep stacking I'M WINNING!!!!  

so keep printing more Silver and Gold Bennie you sociopath fuck...

thats bitches with a "C' not 'Z' of course you bitCh ass bankers.....


Fri, 11/16/2012 - 13:18 | 2988443 whotookmyalias
whotookmyalias's picture


I see people selling their gold and silver all the time to "take advantage of the high price"  Now I didnt' say these people were very smart, but they are doing it......

Fri, 11/16/2012 - 14:23 | 2988779 Kaiser Sousa
Kaiser Sousa's picture

i aint messed up nothing...

aint nobody selling Physical Gold & Silver to justify the downward moves in the phony paper price on the exchanges...

Who sold 77 metrix tons of Gold yesterday in 5 minutes that caused the price to get slammed the way it did..?

Who sold all that  Physcial Silver all week long to keep it under $33 per oz?

ive been in this too long homie along with others here at ZH who know the game...

the cash for Gold muppets r irelevant....

Fri, 11/16/2012 - 12:26 | 2988131 Al Huxley
Al Huxley's picture

Or maybe its just a good way to fuck over those stupid enough to play GLD (and GDX) via options as we head into expiry.  But no, that would imply something less than above-board in the markets, and the one thing we're assured of is that the markets are nothing but fair and open price discovery mechanisms.

Fri, 11/16/2012 - 12:29 | 2988153 Fix It Again Timmy
Fix It Again Timmy's picture

New Chinese leadership are liquidating their extensive inventory of "green toilet paper" and replacing it with you know what...

Fri, 11/16/2012 - 12:30 | 2988154 PaperBear
PaperBear's picture

Round and round and round and round we go.

Fri, 11/16/2012 - 12:41 | 2988220 dexter_morgan
dexter_morgan's picture

Cool, early Black Friday sale!

Fri, 11/16/2012 - 12:45 | 2988245 americanspirit
americanspirit's picture

Visited my local gold/silver dealer the other day. I live in a town of 20,000 people. He told me that he has sold over $1 million in gold alone the past 4 days. And this guy is not a bullshitter. Plus he says his guns and ammo sales are way up in the last week. Haven't checked the canned goods at the local supermarket. Over 100,000 of my fellow Texans have signed the secession petition. Signs and omens.

Fri, 11/16/2012 - 13:08 | 2988386 paulbain
paulbain's picture



I would like to know what price most silver dealers are charging these days. I understand that many such dealers ignore the "paper price" (e.g., Comex silver futures contract prices) and use a different, higher price. IOW, the market for physical silver is beginning to de-couple from the market for paper silver.

-- Paul D. Bain




Fri, 11/16/2012 - 12:53 | 2988298 Canadian Dirtlump
Canadian Dirtlump's picture

This price action in the metals has made me do 2 things:


1) buy silver like it's going out of style

2) dye my hair blonde and answer all questions asked of me by quoting rock and roll songs from the 1970s and 1980s.

Fri, 11/16/2012 - 13:43 | 2988574 Orly
Orly's picture

...'70's and '80's...


Fri, 11/16/2012 - 13:54 | 2988625 rqb1
rqb1's picture

Orly, responding to your comments about gold a few days ago, people seem to forget that the game central banks play includes inflation and deflation.  i could see your prediction happening next year as you said.

Fri, 11/16/2012 - 14:23 | 2988787 Orly
Orly's picture

What people forget, too, is that the previous QE programs were done in order to take "toxic" debt off the books of the banks and trade that for real credit, i,e., UST.  In the beginning of TARP, Goldman took that money and ramped oil, as it was the easiest market to do it in.

Second-easiest is in gold and the thinly-traded commodity spaces of the precious metals and the giant banks took al that free money and went to town on it, all the while hyping up the need to own precious metals.  But now, the Fed is looking elsewhere, other than the giant banks, to buy up toxic stuff.  Once Operation Twist is halted in December, the Fed will announce that it is going into the market to buy up municipal bonds and other instruments because what the giant banks haven't sold to the Fed for money-good bonds, they aren't going to sell.  The giant banks won't have all that free money to kick around any more.

What that means to the gold and other precious metals holders is that the loose money that went to ramp up PMs, copper, iron ore, molybdenum, etc., is all but gone.  Soros and Paulson and all the big players will then play that knowledge against the retail trader and cream them into oblivion.  Actually, when I said that gold would be $1530/oz. by Valentine's Day, that was an extremely conservative estimate.  More likely, it will be in an unstoppable downward flush, leaving everyone with their kids' college education wrapped up in a "shiny" box of rocks to be screwed.

I cannot stress enough that everyone needs to cash in their pretty chips now, before the end of the year.  The ramp-up before the toast will come and you can sell to the next-bigger fool but you only have about thirty days to do it.  Afterward, the moves will be seen as "profit-taking," then "tax-avoidance", then an "impending recovery in the US economy", so no one needs gold any more... all sorts of excuses as to why the little guy got trounced.

Don't let it happen to you.  Take your silver and gold down to the local dealer, who is apparently screaming for something to sell, and sell it now.  Take your profits and be happy with it.

Bulls make money and bears make money, but pigs get slaughtered.  Don't be a pig.  This is the top (or just past...).  Sell your metal now.

Thanks for listening.


Fri, 11/16/2012 - 15:09 | 2989015 DosZap
DosZap's picture


And JUST how are we going to get here?.The rest of the globe, sans China,HK,Singapore, are all screwed to the wall.

No export markets, where do we get this from?,what is the engine that sets OUR hair on fire economically?.

PLUS, we are losing more and more jobs by the uber thousands daily?.,How bout a Twinkie?.

"impending recovery in the US economy", so no one needs gold any more... all sorts of excuses as to why the little guy got trounced.

Fri, 11/16/2012 - 16:02 | 2989273 dexter_morgan
dexter_morgan's picture


Makes sense, but who are these little guys that own lots of gold? Isn't about all of the gold out there owned by CB's and/or bazillionaires? Please explain why they wouldn't be hurt the most.

Sat, 11/17/2012 - 00:44 | 2990882 Orly
Orly's picture

That is just my point exactly, dex.

We are at the endgame of the PM ramp, for reasons posted above.  There is nothing Jamie Dimon and friends (Paulson, Soros...) would like to see more than the retail trader holding their bags.  If you add up all the gold bought post-hysteria, that amounts to a huge volume of precious metals.  Someone upstairs just said he bought $4000 today!

All they need to do is manipulate the paper trade to the downside, just as they have manipulated the paper trade to the upside and voila! all those holders of "phizz" are doomed!  (Including the Chinese and Indians, by the way...which is to your question about central banks getting hurt buying "phizz;" think about why the US would want to possibly harm the Chinese economically...).

How would I know this?  Well, in the 4X world, it is called a stop-hunt, or to stock traders, it is the ole pump-and-dump (in super-duper-slow motion, of course...).  As a stock trader, you just learn to ignore this stuff but a 4X trader sees this stuff, especially in this trading environment, three to four times a day.  Just saw it today in the crash in the Euro at about the time when it was announced that Israel was taking on flak.  The algos read that and boom! your trade just crashed.  End of the day, the Euro was ahead of where it was before there was an "unmitigated meltdown in the currency pair."  Yeah, okay, whatever...

I have seen this pattern so many times, it's not even a mystery any more.  Same pattern over and over and over again, day after day.  Every morning, New York time open, there are massive stop hunts going on to get the paper traders out of the market.  In that way, only the "phizz" boys are left, making them especially vulnerable to a squeeze that gets them thinking (and I love this one, repeated day after day after day here on these pages....), "Gold is cheap!  Send it down, suckas!  Let's go buy more! Rabble, rabble rabble, manipulation, rabble, Blythe (whoever that is...)..."  And they do!  As posted above, they really do!

"Still shiny!"  And cans of beans!  And lead!

???  :/

To specifically answer your question: "but who are these little guys that own lots of gold?"  The answer is: all of them.  Sure, I can lose twelve bucks on a sour trade through manipulation.  It happens every couple of hours in 4X.  But my twelve bucks, added to their twelve bucks, and so on and so on and so on...pretty soon, you're talking about real money.  I can give you countless examples, believe me.

If the giant banks (read: JPM...that's your "mystery" seller, by the way.  They are just selling paper contracts, not the real thing, every morning, opening New York time for months on end...) are able to manipulate the paper price of gold as easily  as that, then they can leave you all holding the bag for huge losses, as you wait in the cold rain and snow for the dealer to open, only to have him send someone out to say, "Hey.  The market is plummeting right now, so I tell you what Im-a gonna do..."

Don't get stuck in that long, cold line.  Leave it to someone else to hold the bag.

Look, you're on ZeroHedge.  You have an economic will and some semblance of reason, but only as long as you choose to listen to the other side of the rah-rah story.  In the end, you should make up your own mind because  I'm not saying whether I am right or wrong; all I am saying is that I see this same pattern play out forty times a day in other, more liquid markets and it behooves you to at least heed a warning about your current position.

That's all.


Fri, 11/16/2012 - 13:02 | 2988343 sink critically
sink critically's picture

Wherever a pattern is found there is money to be made, for people who have no emotional deterrent to pure fiat gambling.

Fri, 11/16/2012 - 13:26 | 2988480 DosZap
DosZap's picture

IMHO, It's the CB's(protecting the USD) , or China, trying to drive it down to SCOOP up all they can.

Fri, 11/16/2012 - 14:44 | 2988910 Conax
Conax's picture

Trying to cover all those shorts while keeping prices capped where they are creates charts like these.

Then there's the Friday dump.. They like to keep the Friday close price a few cents under last Friday's, whenever possible.  MOPE.

Dirty, rotten, scum sucking, champagne swilling trash.


(You might have surmised I am going to sell a bit of silver due to unforeseen difficulties)  ;)

Fri, 11/16/2012 - 14:54 | 2988958 abhieshek
abhieshek's picture

when gold goes down, tyler says that it is just a case of algos running stops and that it will revert back but when s&p goes up, tyler blames it on stupid frenzy.... tyler, have you ever made money in the markets?? i guess one with such strong biases goes on to make any significant money. No wonder you just crib about everything 

Fri, 11/16/2012 - 15:14 | 2989032 youngman
youngman's picture

Harvey Organ is saying its the big banks taking ti down to get the options out of the money for delivery...because there is no metal....

Fri, 11/16/2012 - 15:46 | 2989172 DosZap
DosZap's picture

Well,in Orly defense we have seen this before.

The huge CB's, have(supposedly) a LOT of Gold.

If Benny gives the signal, and they release, then there is not enough demand even for the East, or India to stop the FLUSH.

But, I still cannot fathom the US economy turning with SO many millions, and more daily hitting the dole.

Not to mention our debt.Which is going NOWHERE.

Answer me that, and I would be convinced.

Fri, 11/16/2012 - 15:51 | 2989196 fijisailor
fijisailor's picture

Have patience.  THis is pure desperation from TPTB.

Sat, 11/17/2012 - 03:45 | 2991130 terryfuckwit
terryfuckwit's picture

I like what orly says and short to medium term he could be very close to the mark.. Us stackers could yet get some nasty price shocks..and I thank him for that in rethinking the balance of what I invest in cash/pm/btc Look what the uk did to the gold price with their big offload..
The crux of it is understood when you understand wether you are on a raft drifting hopelessly out to sea or safely on dry land. Fiat propaganda would have you believe that their 40 year old desperately failing untied fiat nonsense is the new dry land. History provides a very obvious unequivocal answer in what is the real dry land when it comes to store of value. Just tell me of any signs that the flakey raft is not taking in water and you might have an argument for selling pm but unti then keep stacking...

Sat, 11/17/2012 - 03:53 | 2991135 terryfuckwit
terryfuckwit's picture

One other huge failing in the orly argument is when Tptb want to fleece the sheep by promoting a balloon the MSM would ensure a much larger amount of sheep would be on the pm bandwagon than currently is..
But never forget tptb redefine what dry powder means in what they can achieve with manipulation. So be prepared for tumultuous price fluctuations

Sun, 11/18/2012 - 02:37 | 2993168 papaclop
papaclop's picture

That's not someone; that's JP Morgan. It's not four days but four years of manipulating the silver market. The CFTC knows but does nothing. The who'll system is rotten and Jamie with his JPM henchmen are a puss filled wound. Honest investors get raped again with the govt ok.

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