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CFTC Probe Gold Plunge, “No Visible Central Bank Activity” Say Blackrock
From GoldCore
CFTC Probe Gold Plunge, “No Visible Central Bank Activity” Say Blackrock
Today’s AM fix was USD 1,397.00, EUR 1,070.17 and GBP 917.09 per ounce.
Yesterday’s AM fix was USD 1,379.00, EUR 1,046.12 and GBP 903.14 per ounce.
Cross Currency Table – (Bloomberg)
Gold lost $0.20 or 0.01% yesterday to $1,373.20/oz and silver also finished with a slight loss of 0.9%.
Gold in USD, Daily – (Bloomberg)
Lower gold prices have led to a rush to buy gold coins and bars globally. Value investors and store of wealth buyers are more than happy to exchange devaluing paper currencies for physical gold at these much cheaper prices.
It is ironic that manipulative selling by a large hedge fund or bullion bank may have ignited a mini gold rush globally.
US Mint data shows that a record 63,500 ounces, or a massive 2 tons, of gold were sold on Wednesday (April 17th) alone. This means that total sales for the month of April have surged to a significant 147,000 ounces. This is more than the previous two months combined with just half of April gone.
Gold Ounces Sold By Mint – Zero Hedge
Similar strong demand is being seen throughout Asia and in western markets. We saw more buying than selling again yesterday and most of the selling was of small orders, less than fifty ounces, while buy orders were lumpier and from high net worth clients.
Demand is again particularly strong in India as Indian consumers are buying gold jewelry, coins and bars in record numbers which will boost gold imports this quarter as traders and banks run out of gold bullion inventories.
Overseas purchases may jump 36% to 305 metric tons in the three months ending June from 225 tons a year earlier, Mohit Kamboj, president of the Bombay Bullion Association Ltd., said in a phone interview with Bloomberg.
Imports may climb as much as 20% this month from year earlier, he said.
Buyers are flocking to jewelry stores and bank outlets to buy ornaments, coins and bars ahead of India’s main wedding and festival seasons after gold slumped to a two-year low.
The Commodity Futures Trading Commission (CFTC) is looking at the role of market speculators, CFTC Commissioner Bart Chilton told Bloomberg TV overnight after gold futures on Monday suffered their biggest one-day decline since at least 1983. Some have said that it was the largest decline ever.
The CFTC may take a deeper look into the price of gold following Monday's price plunge. Democratic CFTC Commissioner Bart Chilton told Bloomberg TV today that the drop doesn't necessarily mean "anything nefarious" happened but whenever something like this happens "we got to look at it."
“When you see such sharp move that is obviously something that raises our concern and we look at the trades and see what is going on,” he said.
Regulators must look out for end-users first and ensure markets perform “properly”.
XAU/GBP, Daily – (Bloomberg)
The CFTC is already scrutinizing whether gold prices are being manipulated in London by a handful of banks who meet two times a day to set the spot price for a troy ounce of physical gold. The CFTC said in March that it is looking at issues including whether the setting of prices for gold—and the smaller silver market — is transparent and if it is fixed.
The $20 billion gold futures sale and concentrated selling of gold futures on the COMEX on Friday and Monday is far more likely to be “nefarious” than the gold fixings in London.
The CFTC’s track record to date has not been great and regulatory capture remains a real risk with the CFTC seeming to be reluctant to hold Wall Street banks who may be involved in price manipulation in the futures market to account.
After the Libor revelations, it is surprising that there is not more scrutiny and hard questions asked of banks and regulators in this regard.
Separately, large institutional fund manager Blackrock said that there was “no visible central bank activity” as the gold price plunged.
They said that gold's fundamentals remain strong and that the fall in price was driven by an outflow of "hot money" and that gold prices are now near the marginal cost of new supply which should provide strong support at these levels and lead to higher prices again.
NEWS
Coin Sales Surge Despite Drop in Metal – Wall Street Journal
Bargain hunters look to cash in on gold price slump – The Telegraph
Gold Drop Spurs Demand From Indian Bazaar to Chinese Mall - Bloomberg
Gold Drop Splits Central Banks as Sri Lanka Sees Opportunity - Business Week
Video: Gold Decline a `Gift' - Still Safe Haven – Business Week
Video: Gold Price Drop Not Based on Fundamentals Say Blackrock - Business Week
Audio: The Secret World of Gold - CBC
Gold Rout: Central Bank Manipulation, Says GATA – Yahoo Finance
»
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When you are part of the theft you find no one is guilty of anything.
Bwrt Chilton on the scene.The CFTC exists to stymie real reform. See their 5 year old silver investigation. Read CFTC Justice Painter on how former CFTC Chairman Wendy Gramm advised never to rule for a plaintif allefing manipulation.
If your head is far enough up your ass, you can't see anything.
Chilton is working on credible evidence that the person responsible for the gold takedown was "Billy Rubin"...
Don't think, just buy the fucking dip!
The CFTC may take a deeper look into the price of gold following Monday's price plunge.
We might do our job......then again.....we might not.
"I seeee nu-think!"
http://www.youtube.com/watch?v=34ag4nkSh7Q
Nothing to see here
https://www.youtube.com/watch?v=5NNOrp_83RU
Blackrock = shitcrock
Gensler got his Goldman supplied report...Pay no attention to that man(company) behind the curtain
No central bank activity... Yeah, I was thinking of offloading a few hundred tonnes myself don't you know, surprised more small investors don't do it...
Fucking ridiculous, why don't we just march this bullshitter off to prison with all his lying friends. They aren't difficult to find, just look for those that made the most money at expiry.
And I don't even need diddly squat of the CFTC's budget....
'Regulators must look out for end-users first and ensure markets perform “properly”.' But the markets did 'perform', they did exactly what the manipulators wanted. Nothing to see here...
Hey Chilton you waste of fucking space, go get a proper job and earn your fucking money.
'They said that gold's fundamentals remain strong and that the fall in price was driven by an outflow of "hot money"' Yeah first 100 tonnes to drive gold down to long term support and then 300 tonnes two and a half hours later to smash it through. Nothing to see here for dumb fucks. That's just 'hot money' These fuckers should be hanging from trees, not taking huge bonuses for successfully being 'in' on trades like thsi.
Pay no attention to the Goldman behind the curtain
Chilton the Charlatan. This guy has turned into a complete laughing stock. I wish he would just shut his mouth. Let's ask Jeff Christian if he'd like to take over the job.
The first step in solving a crime is the desire --- "the want to" --- to solve it. I have yet to see that trait exhibited by anyone at the CFTC.
Sing it Gary:
We're a Gangster Family,
All my Bankster buds and me,
That's the way it's gotta be,
Gotta keep Jon Corzine free.
Motivational Thought of the Day: ttp://www.youtube.com/watch?feature=player_detailpage&v=8X7h9jLCqFc#t=19s
Gold Is Over – Just Like in 1976nothing new under the sun--same thing as today
http://www.caseyresearch.com/cdd/gold-over-just-1976
"Currently, Mr. LaLoggia has this to say: 'There is simply nothing in the economic picture today to cause a rush into gold. The technical damage caused by the decline is enormous and it cannot be erased quickly. Avoid gold and gold stocks.'" New York Times, [today?]
no
August 19. 1976
...The CFTC said in March that it is looking at issues including whether the setting of prices for gold—and the smaller silver market — is transparent and if it is fixed.
Is the daily gold 'fix' a form of market fixing? *frowns hard in thought*
Be on the lookout for a one-armed man -- put out an APB, 'cause that's how we roll!
In other news Chilton is also now helping OJ relentlessly until they find “the real killer!”
We are seeing crazy activity in the physical market here in Australia:
Scramble for Physical Gold and Silver Continues: http://www.bullionbaron.com/2013/04/scramble-for-physical-gold-and-silve...
"Of all the traffic that we've had over the last few days, and we've had queues like this since Monday, as well as our internet and phone orders running off the hook, the ratio between people buying and selling physical is, and this is no exaggeration, basically 99 to one."
there is almost no metal available from dealers in New England in US.
Stop exporting your gold dipshit.
From what I can tell this correction is exactly what the metals needed. The massive buying of physical supply will be what pushes gold and silver to the next level. Nothing has been fixed around the world, governments are printing money faster and faster. Interest rates are still low and the markets are facing more risk now than any other time in history. Sounds to me like this correction just lit the fuse under gold and silver.
Keyword here is "visible"
You notice that 2-ton sell-off last night (here) occurred just as the Sydney market opened? Gotta clean out that paper debris and buy that physical to get ready for the AUD-RMB trade, doncha know.
Bart Chilton at a recent press conference-"I'd like to raise a glass to myself, leader of this flock. I work hard everyday at getting this hair in check, other then that I don't really work at all".
Took the words right out of my mouth
Gensler handing in his Goldman supplied report?
To CFTC: "What, you were maybe expecting gilt-edged, embossed stationery from JPM?" Time to consult with Sgt Schultz...
Move along.....nothing to see here.
Exactly
Is there only one market for gold and if so where is it?
A reader posted this article yesterday. It is really quite good. Explains much.
We Have Seen Gold Prices Act Like This Before
http://www.alhambrapartners.com/2013/04/15/we-have-seen-gold-prices-act-like-this-before/
it was all good when it was going up $50-100/day in 2011 and now the bubble finally collapses and its rigged? ITS A BUBBLE THAT BURST. Same as nasdaq 2000 and the housing bubble.
Yes, because after bubbles burst, thats when you get a huge frenzy of buying activity.
Oh wait.
You always have to look at the opposite asset to figure out if you are in a bubble.
The opposite asset to future cash flows (financial assets) are present goods forming the circulation (that is goods and services, commodities as they are part of the circulation).
We have too much debt to GDP.
The debt of someone is hte finanical asset of someone else.
the GDP is the cumulative transaction or the circulation.
The sentence ~We have too much debt to GDP~ =
We have too many finanicial assets to Circulation of present goods.
THe finanical assets are future cash flows discounted by interest rates.
The present goods are undiscounted, not subject to the discounting mechanism, since they are present goods.
When the newly printed money will enter the circulation, the nominal GDP (not real) will rise. AT the same time the interest rates on the long end will rise too.
This will help restore the ratio of financial assets to circulation since the finanical asset will be discounted by ever rising interest rates, while the present goods will rise in because the money printed stops playing with financial assets and enters the circulation.
Gold is a present good.
There are two ways to discount very steeply the future cash flows.
The 1 is massive bankruptcies occuring.
The second is very high interest rates.
That is why the Gold-Dow ratio gets very low during massive bankruptcies (1933) or in 1981 with very inflation and very high interest rates. This is why present goods and future cash flows behave inversely most of the time. At the end of the delveraging in 1950s the money printed had fully entered the circulation, the gov debt was high but total debt (consumers + corporations) had bottom from 1933 high. At that point the expansion of future cash flows against present goods was in order.
The opposite asset of Gold is the Treasuries. You are looking at the wrong side to look for a bubble. Bubble is in the Treasuries.
The bubble in Gold will occur when financial asset are totally trashed while we have deleveraged. Probably with 15%+ inflation in 10 years and every stock trading at 6-7% dividend yield and single digit PE.
At that point you will have thrown the towel in financial assets and you will buy Gold which I will gladly sell to you.
The nominal price of the S&P could be 2,200 by that time and Gold at $5,000 an ounce.
When stocks were in a bubble (1999), real assets were totally trashed.
Right now stocks are in the middle of their adjustements (not super cheap, not in a bubble) and real assets are in their way to a bubble as the discounting mechanism of treasuries will inflate away financial assets while pushing up the prices of what makes the circulation.
Granted if we had huge increase in productivity, the ratio copuld be restored without too much inflation.
-1 for you : the rise to 1900 was out of bounds as well and also rigged by lowering margins & luring people in using margin. For those who hedged with options while buying physical the entire market had a different outlay. There is no bubble and there is no bursting here. Money is still printed, bonds are in a bubble, stock markets are levitated on fraud in balance sheets & freshly injected inflation. To conclude otherwise is to ignore reality itself.
Of course there was no visible central bank activity. Which does not mean, there was no central bank activity at all ...
that's correct, even CB activity of this kind would have been executed by their shared handmaiden, the BIS
but we know who is the Masters-mind of this little accident, don't we? and the Squid's tentacles left clear signs on the scene, too
Central Banks are massive buyers save Japan and...I imagine the USA. That would excluding the IMF of course. "and what country would ever exchange there thousands of tons of gold for a loan."
Right; and All Capone was just a tax evader with no other visible criminal activity.
Exactly. "what is Washington DC up to again?"
If I was a central bank I would have a whole shadow network of lackeys to do my bidding, that way it can't be traced back to me... Just saying.
Well, we all know there are no central bank lackeys
Visible being the operative word.
Henry Gondorf: There's no visible fraudulent activity here!
+1 For the Sting reference.
"There's been a mistake! I want my money back!"
Oh....ok.
CFTC? Criminal Federal Toady Cabal?
+1 for Toady!
It was the "Honorable" Jon Corzine, in Cyprus, with the CANDLESTICK!!!!! CLUEDO!
Another fully vested criminal organization says that no crime occured. Sounds good, move along.
Keep up appearances of impartiality and competence, nothing more. Joe-Q public ohs and ahs and goes back to sleep and it is forgotten in a weeks time. Just like Heinz and the SEC. Horse and Pony show.
yeah, whatever happened to those options bought by GS in Switzerland on behalf of a "private client"?
must be in the closet with the rest of the skeletons...
"The CFTC is already scrutinizing whether gold prices are being manipulated in London by a handful of banks "....
Nah does not sound like LIBOR.
FINE them ....ONE MILLION DOLLARS!!!!!
ONE meeeelion!!!
http://4.bp.blogspot.com/_Ji5ZKp5toUI/SeZxfOODoKI/AAAAAAAAF44/e2iGv3I4s6c/s400/lolcat_raisebid.jpg
Lazors not included with Banker Cat.
WHY are we even having this conversation? Everybody and their brother knows the Fed and Central banks are the big manipulators of the world equity markets! They, along with their bought and paid for media, admit buying equities. So all of a sudden its a stretch to KNOW they directly influence the price of anything other trading vehicle asset?? Especially one that has such great influence on the world's primary paper fiat, that GOLD exposes as the greatest ponzi scheme on planet earth - NO, the banks have absolutely nothing to do with this mammouth move - Thanks everyone for not using even 1/10 of your brain...Now get back to CNBC for some real truth!!
Indeed. The patent and obvious truth here, and the hysterical denial of it by every 'mainstream', establishment-coopted lackey and Quisling, is why I now finally write off Doug Casey as an intelligent and honest analyst as well, after reading the following interview in which he flippantly and disingenuously denies any official role in the suppression of the prices of the precious metals:
http://news.goldseek.com/GoldSeek/1366297513.php
Fuck you, Doug Casey.
No visible central bank activity on the physical market but plenty on teh paper market. We agree thanks Blackrock.
The recent Gold move is 100% Japan related.
A 5 sigma move (JBGs stopped) on the same day a 7.5 sigma move on Gold. Here is teh explanation below.
The recent move is 100% Japan related.
Japan has 20 times debt to GDP or war like Debt.
Japan consumes 20 % of budget interest even with very low rates.
FIRST THINGS WE ALL KNOW. BRIEF RECAP.
Japan has now a trade deficit because of Fukushima and because they move some their logistics out of the country to hedge against earthquakes. AND THEY ALSO ALIENATED CHINA with Senkaku.
More people are now moving out of the workforce then entering so in aggregate they are di-savings, creating problem for demand for JGBs.
So the debt situation is the most serious.
There is a way to avert that, and taking down the Gold price.
Japan wants to inflate away in an orderly way (like Britain post world war II) However the currency had declined by 25% in a short period of time
At the same time the Gold price in Yen was breaching a 30 years all time high.
The backdrop of this breach was a QE announced which is 2 times larger in proportion than the US.
Normally an old all time high breached after 30 years with such a backdrop would mean Gold off the races in Yen.
That would have potentially created a panic since Gold since Gold is purchased in panic.
Gold shapes inflation expectation and the secondary effect could be a disorderly JGBs.
Remember that the JGBs were showing great volatility BEFORE with 2 stops in JGBs market.
So who did the take down?
My answer is Global central banks who have debt problems and need to maintain negative interest rates on their Gov bonds.
Why? If the JGBs go disorderly, it would immediately trigger uneasiness with other sovereign bond markets.
Hence the Gold price in Yen, which could be the fuse for this event had to be squashed.
Who squashed it?
People who can do it. And they should do it in order to avoid a big problem for Japan and the rest of the world.
People from ECB (Draghi), to BoE, the US Fed.
How did they do it?
First a short recommendation by Goldman on Wednesday last week
Next Draghi says Cyprus has to sell its Gold.
However, how reliable is Goldman in warning its clients about an impending bubble?
Absolutely not reliable.
Remember Abigael Cohen in 1999 (Goldman was the biggest IPO promoter of internet bubble)
Fabrice Tourre was structuring crap to be sold to clients (while Goldman was short subprime with AIG)
Goldman made a call for 200 USD oil back in 2008.
So this is why Gold had to be squashed, the JGBs were stopped because of daily limits while the Gold price in Yen was moving strongly above its 30 years all time high while Japan was announcing massive QE.
We had a 7 sigma move in Gold, even in 1970s you never saw a 7 sigma move, while at the same time the government with the highest risk of disorderly adjustment being halted for excessive move down? How often are the JGBs halted?? And on the same day that Gold has a 7 sigma move down.
http://www.cityam.com/blog/volatility-jgbs-sees-them-halted-again
Soros had figured it out that central banks would not let a panic start on the Gold in Yen terms, and he sold his Gold back in September and started to buy puts on the Yen.
". . . They should do it? ". What ever happened to seppuku?
some details to your theory: the ECB's 17 are not part of the "gold is barbaric" front. "Next Draghi says Cyprus has to sell its Gold". Nope. It's the Cypriot government that put their gold into discussion (another poisoned pill for which I suspect their Prez is being paid to). Meanwhile, the Cypriot CB governor (also under attack from their Prez) said it's not theirs to sell, to which Draghi said that it's correct, and IF it gets somewhere then to the ECB as part to the ELA funding
this of course led some US media to form the meme "Troika+Cyprus = all peripheral gold on the market = flee gold!"
Your "analysis" is a total bullshit. More importantly, all the bloggers screamed that there is a disconnect between the price of "paper" and physical gold. Now everybody suddenly shut up.Because there is no such disconnect. The price of physical gold plunged and as a result of it, demand for the Gold went sharply up. What is unusal here? Obviously, we will see a price rebound (but not to the original level).That is it.
How often does the JBGs are halted?
What is the likelihood of a 7.5 sigma move on Gold?
Then the two happen on the same day?
Then this thing about Goldman to sell Gold 1 day before?
The problem is that many people are not intuitively statistician, that means that while they can compute odds with methods and a calculator, if you ask them to guess the odds of something, they can not do it.
Go ahed compute the odds of a JGB market halted and a 7.5 sigma move on Gold at the same time.
And then from qualitative standpoint and pyschological standpoint try to argue that Gold price in Yen slipping too fast does not affect inflation expectations.
Next please tell how inflation expectations rising very quickly would have no impact on the JGBs.
Here you can get history books for free. www.archive.org
I am eager to find a good refutation once you have computed the odds. If I find a better theory, I will switch to the one which is better gladly.
-1 for your ignorance
http://flic.kr/p/ecbWVH
Disconnect visible right there.
Get Bart Chiltons hair on this folks,
It'll know what to do..
Billy Rubin
Nothing to see here,
Muppets, bend over and bite down hard on yon bitey stick..
Regards
CFTC
In other words, we covered our short position and we're now long again.
BART CHILTON??? ARE YOU F... SERIOUS?? The only thing I would hire that guy for is to entertain as a clown my kids birthday parties...and even then, I am not too sure...he's got the look of a f...psycho....
Hey, go easy on the guy. Bart would make a great boxing promoter.
I would recommend not letting any of these Luciferian assholes anywhere near a kids party. Just sayin'....
The catal is trying to put gold under $1400 and silver $24 now. This is so nefarious
Not transparent...
Can't see the CB hand up the puppets ass?
!
The CFTC should speak with Chris Martenson for an unbiased, rational piece on the Gold moves.
http://www.peakprosperity.com/blog/81535/gold-slam-massive-wealth-transf...
I was watching Gold last night and all of a sudden, out of nowhere (with high volume) Gold just fell through the floor, spiking down below $1340. Pure HFT move (felt very similar to 6th of May, albeit a much smaller move). But then that's only anecdotal - and it's back near $1400.
DavidC
...Separately, large institutional fund manager Blackrock said that there was “no visible central bank activity” as the gold price plunged...
truly heroic, and spoken in the mold of Nelson himself, who, when at the Battle of Copenhagen, was confronted with Parkers' signal to break off the engagement, held the telescope up to his blind eye and said
In a sea of iniquity, nobility still lives!
HOT MONEY!
Will Waddell & Reed never be brought to heel?
AH yes....so as long as 'hot money' no longer 'outflows', gold price is steady here and will go higher, as long as there's no further 'hot money'.
K...got it.
whole thing is bullshit, they can move markets without touching or moving one physical ounce of gold.
An anal probe is indicated for Bart.
It'll be difficult to get past the bullion bankers arm
Blah blah blah...Here's the question: WHY would a profit maximizer sell 400 tons at a precise, predictable time? And if there were derivatives involved to profit from this, why would that maximizer be able to get away with it on a sustainable basis (i.e. since the Feb 29/12 dump). Last question: How the fuck is it possible, that there is leverage enough to sell paper gold for the equivalent of 400 tons, but there is none to buy 400 tons?
The day someone answers these three questions, I will give up with my conspiracy theory. Not a moment before.
Yes, I'm sure they'll "investigate" this the same way they "investigated" why/how 10m put options on AA were purchased on Sep 10 2001
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/100019...
.
Fed and Bank of Japan caused gold crash
Commodity prices have been falling since September, culminating in a rout over the past two weeks. That is a classic warning for the global economy. ...." ...
Awesome article, thanks...
the S&P versus commodity index is very telling...
No visible money laundering of Sinaloa cartel cash, says HSBC executive.
No visible manipulation of silver, says CFTC.
No visible rigging of Libor, say UK banks.
No visible faking of mortgage documents, say US banks.
No visible theft of gold from allocated accounts, says ABN Amro.
No visible coercion of Cyprus, Greece, and Ireland, says Troika.
Triple D, deny, dodge, and deflect...
rolling with laughter. yeah the four hundred tons dropped by Merrill materialized out of nowhere......
Some of the articles and comments here remind me of that blowhard, Alex Jones. He blames the "globalists", and the "NWO boogiemen". He never "names names", because if he did, he would be attacking members of the tribe, and it’s the tribe who butters his bread. If you want to take down these criminals, you have to "name names" of the tribal members at the very top. No, it's not Bernanke, or Blankfein: those are tribal members who are just puppets; doing what they are told to do. It's going to take some serious investigating and research. But, when you have the names of actual people, then, and only then, will your claims be considered valid.
The Rothschilds own JP Moirgan, the Sassoons own HSBC. Both banks are naked shorting silver and the Rothschilds and Sassoons are an intermarried super dynasty. They are the eyes atop the evil pyramid.
Very interesting, it seems you know something we don't.
I looked at the list of tips shareholders of JPM and didn't see that.
You won't see my name listed as a shareholder of my company, either.
I think the tard with an 'opinion' was just wasting out time. The Rothschild Sassoon have been projecting their power vicariously since the year dot.
You would not.
One of my clients .with his brother, has control of a very large worldwide food
outlet/franchisor.His name only appears once as a minor shareholder.Family trusts, and shell company
fronts offshored own the controlling stakes.The banks real owners have played this game a
longtime and have more experience than him at hiding the reality.
CFTC does investigate, but only to figure out where it needs to cover up the crimes of the squid.
That is why Gensler, ex-Goldman, is CFTC chair. A safe pair of hands, I think we can all agree <wink>.
The Fed and Goldman Sachs do not operate in concert.
Goldman Sachs was not behind the 400 ton dump which triggered the price fall of gold.
The gold price is not being manipulated to prevent the Petrodollar from being abandoned for being less secure and stable than gold., or for depreciating relative to gold.
[please repeat the above three times, then click your heels]
http://www.321gold.com/editorials/schoon/schoon041813.html
http://www.globalresearch.ca/fed-orchestrated-smash-in-gold/5331174
there’s no place like Rome
there’s no place like Rome
there’s no place like Rome
we don’t need no water… http://youtu.be/a8XsZwtmYik ... LET THE MOTHERFUCKER BURN
"When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it"
Frederic Bastiat
Round up the usual suspects.
Could the CFTC just issue their report now and save us all the sharade.
CFTC - we know you are full of shit and that the chances of you finding evidence of nefarious activity by a bullion bank or the Fed is -273k.
The last person to provide irrefutable real time evidence of silver manipulation by JPM to the CFTC was almost murdered because of it.
We can't see the invisible hand.
Uncle Ben teaching those Germans a lesson?... Yeah, you can have your gold back as soon as we get the price down, don't call us we will call you.
More like a message to China, get that asshat in the DPRK back in line or we trash your gold holdings...
The germans will wait patiently to pull it out of his cold, dead ass!
Doug Casey agrees, if you care any longer what he has to say.
A real seller doesn't place a 20 billion dollar sell order at market at illiquid hours. Pull your heads out Bart you dumb ass. Oh, you don't want your secret Caymen Island slush fund bank account to disapear, couirtesy of your real masters....
Better study up on your French Mr. Shillton, ie. FORCE MAJEURE. How about we finish up the silver manipulation investigation you'll started 4.5 years ago first?
This was just a slight order imbalance that was resolved with the new price. My local coin store confirmed there was no liquidity problem because buyers were lined up out the door with cash in hand.
"Regulators must look out for end-users first and ensure markets perform “properly”. "
Oh, they're performing "properly" all right.
"Separately, large institutional fund manager Blackrock said that there was “no visible central bank activity” as the gold price plunged."
.. and you can best believe that nigga aint lying. He's one of those folks on the fed's special pre-announcement mailing lists haha
i think i spotted a trend; guns, ammo and now gold...
intended consequences?
CFTC: "...And no Central Banks were involvement in Libor fixing, drug cartel money laundering, HFT, hyper-hypothecation of any global assets, any mortgage foreclosure fraud, criminal pursuit of ratings agencies, or the stealing of any segregated client accounts at MFGlobal, either. We at the CFTC stand vigilant."
we are the foxes eating the chickens when we get hungry...
Where there is man, and there is money, there is corruption
The London fix is "tradition" for this barbaric relic. Nothing to see here, move along.
The CFTC and SEC are bankster controlled shit shows.
I look forward to the day when they become completely irrelevant.
choice is yours: you can make them irrelevant right now. You don’t have to subject yourself to their whims even if you want to continue to be critical of their crimes.
The CFTC is on the case? Talk about the blind leading the blind...
I just want to thank whoever is responsible for crashing G&S. I didn't know enough to get in on the ground floor last time. Please feel free to take it down some more.
It will (no sarcasm). When the banking system cracks open, like 2008 but worse, banks will use gold in desperate efforts to raise funds, causing a selling tsunami on paper gold markets. Background here:
http://www.alhambrapartners.com/2013/04/15/we-have-seen-gold-prices-act-...
http://www.alhambrapartners.com/2013/04/16/gold-follow-up-cyprus-wasnt-f...
feel free to send twitter messages to @federalreserve to double-dog dare them to drop it some more… these discount prices won’t last for long so the more you can grab, the better. Premium % sure is growing but even so the full $ paid for gold or silver IS lower than what it was before the drop so jump on in
CFTC - a wholly owned subsidiary of GSAX, JPM, CITI, BOA, and the U.S. Dept of Treasury.
If they are looking into the beatdown like they looked into silver's systemic manipulative regulation, four years out they will realize it never happened. At 400 million a year, it will cost us a bil and a half to get there.
It's not worth it.
Disband the CFTC and put the Keystone Kops on the kase.
Based on the evidence here there was HFT fuckery at play which sent it into flash crash territory. Open season on gold apparently.
Jon Corzine made an error of risk management .... nothing more ... nothing to see
But Bernie Madoff IS really a fraudster & crook ...... hmmmm .... if it looks like a duck, quacks like a duck, etc, ....might it be a 'duck'? Not if you are former Goldie head, former US Senator from New Jersey and former Governor of New Jersey.
Goldbuggers (trust me - I am not a goldbug person ... but what realisitc alternatives are out there to fiat/instantly-made-up-'money' ala QE?) ...notoriously wear tin foil hats, see conspiracies everywhere and suspect the democratic process that got one Jon Corzine elected.
Hey, Mr CFTC Bart .... suggestion ...... instead of a 'throw away' ...."we have to at least look like we are looking into it" investigation approach ... you might keep an open mind to what data & behavior suggests.
Jon Corzine ....never forget ........ oh, I almost forgot ...... Marc Rich, remember him Attorney General Holder, ... some people (and too big to fail banks) get 'more equal law' than others .... how can that be, sir? Just askin' And of course, so much of the population that is invested in a certain political party & administration will never see what they do not want to see ... is that correct 'jornolists'?
I thought they are going to sit this one (and numerous more in the future) out just so that we get the picture.
Off topic...
But I am being really heavily sprayed by chemtrails today.....
Started by 6:00 am....
Anyone else...?
I'm already feeling better Bart Chiton and the rest of the do-nothing gang at the fucking CTFC are on the job. Central Banks won't supply them with even their used toilet paper, let alone details of market manipulation? Their job? To keep nosy people away from the truth.
Gambling in Casablanca?
I am shocked!
JPM manipulation story is out of the mainstream bag http://www.cbc.ca/doczone/episode/the-secret-world-of-gold.html