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Goldman Closes Gold Short
It appears Goldman (together with virtually everyone else focused on physical not paper gold) has bought enough gold from its clients. Now, there is only upside.
Goldie on gold:
We closed our short trading recommendation on gold
We have closed our recommendation to short COMEX Gold, as prices moved above the stop at $1,400/toz. We have exited the trade significantly below our original target of $1,450/toz, for a potential gain of 10.4%. The move since initiation was surprisingly rapid, likely exacerbated by the break of well-flagged technical support levels. Our bias is to expect further declines in gold prices on the combination of continued ETF outflows as conviction in holding gold continues to wane as well as our economists’ forecast for a reacceleration in US growth later this year.
Explains the rip in gold this morning, and why it will continue to do so consider Goldman's "bias" to keep buying more gold from its clients (especially since any forecasts of "reaccelerating" growth now merely spark bouts of uncontrollable laughter). Buy until Goldman says to go long.
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How come there are no gold coins to buy for days now if there is no conviction....
not as easy to find as before... but if you look hard, you'll still find them.
If you can, find a few investment buddies and buy together. You can still get good deals if you buy a minimum of 10 one-ounce gold coins.
Its very hard to find any gold coins right now... The ones that are available have a huge premium attached! This is insane! looks like price controls are backfiring!
Our bias is to expect further declines in gold prices on the combination of continued ETF outflows as conviction in holding gold continues to wane as well as our economists’ forecast for a reacceleration in US growth later this year.
They are so full of sh&t! If they really expect falling gold prices, they would have held their shorts! Either liars or Dumb a$$es, you decide!
Like a thief in the night.
'The move since initiation was surprisingly rapid, likely exacerbated by the break of well-flagged technical support levels.'
Yeah that and a 400 tonne short, but we won't go into that eh, people might get sent down...
Ooops, made myself titter then for a moment...
Harlequin - it is amusing how Goldman writes like no one else has any information. They might have said
"The move since initiation was surprisingly rapid coming two days after 15 bank CEO's met with President Obama and was triggered by a single 400 tonne (12+ million oz.) sell order dropped on the market by one major bank over 30 minutes which took out major stop losses and artificially cascaded the market when asian markets were closed for the weekend."
And they could have said "And timing is everything in trading, and we somehow nailed the timing, better listen to our advice next time, we are smart and looking out for you"
When gold got hammered down I made the comment that "buy when people are fearful", my buddy tells me "Wait for Buffett to say it". These people seriously believe these big boys are out there looking out for them???
"Our bias is to expect further declines in gold prices on the combination of continued ETF outflows as conviction in holding gold continues to wane as well as our economists’ forecast for a reacceleration in US growth later this year.
They are so full of sh&t! If they really expect falling gold prices, they would have held their shorts! Either liars or Dumb a$$es, you decide!"
Oh ye of little faith. They've obviously left the money on the table as a gift to the muppets.
I gotta admit I felt worried up until the middle of the statement. But then I realized they were bearish due to:
BTW what do ETFs have to do with holding gold again? This interpretation makes sense to me: ETF operators are no longer convinced that they should even try to hold any physical gold for their clients.
Imagine if GS was under the honesty spell from "Liar Liar". They would be bankrupt in one week.
In your bra.
Even this doesn't help, they still f**king metals every morning, so far $10 been eating since AM. Everyday same sh*t, and those crooks not letting Americans trade Gold/Silver on Forex platform, otherwise due to this manipulation there never been much easier trade, Wake up at 6:30 AM push SELL 1:20 PM close short. Day after day. Friday Biggest drops always. Crimex GOLD trade is an ATM.
Today target 1402-1405 by 1:30 PM Manipulation? Of course, If everyone knows that in 8:20 AM it must
drop and when it's going after that
what kind of "FREE" Market is that? ATM machine.
So what you're really trying to say is keep stacking.
Yeah, they are trying to condition people, that the easy money is in TRADING GOLD, not holding gold. Sell in the morning, and buy at the end of the day, will make you some money, but you are being co-opted by TBTF, you are helping them. And the day that the paper gold market dies, don't think they will tell you to buy physical on that day, either! You will lose your ass with a paper Gold short on that day.
There's a muppet born every minute.
@ Maxmad:
My friend, everything is up to interpretation.
Ignore the rest of the "noise" in their statement. The first 4 sentences are basically GS telling the world how great they are. As you correctly pointed out, the sentence starting with "our bias" is hypocritical bullshit.
But there is a grain of truth in it:
"Our bias is to expect further continued ETF outflows"
Now I have a question for you, if silver spot is $23 ish and I can buy real silver for $28 ish, what is the premium say against corn, or oil.
How much are these other 'stuffs' actually trading at over spot, and why?
@ Harlequin001:
I can't tell you, since I follow the Gold market, almost exclusively.
Very true if you look at gas, we are paying such a high premium compared with the spot Brent Crude its sick! But you have consider things like taxes, deliery costs, forward costs, etc... They make it virtually impossible to fiqure out the exact premium charge on certain commodities such as gas.
Croesus,
re. "Our bias is to expect further continued ETF outflows"
Agreed. We can expect to see the ETFs drawn-down as investors take physical delivery.
@ Pinto Currency:
The demand side for Physical Gold, is almost unreal. Two Short Planks had a post yesterday, where he summed it up, perfectly:
Quote: "You think the squeeze is tight now...LOL...you haven't seen anything yet. Try to imagine a Gold Market where Central Banks are scrambling to repatriate their Leased Gold as well as a Retail Market hell-bend on buying physical...it won't happen...THEN, try to cope with the prospect of the general public - fuelled by MSM - getting into the market."
RE: http://www.zerohedge.com/news/2013-04-22/bill-fleckenstein-hold-tight-yo...
Fundamentals do matter, in the real world, contrary to what some may think. The fundamental demand for physical Gold, virtually guarantees that its relative purchasing power will eventually be multiples of where it is now.
If there's one thing the Squid is NOT, it's "dumb". More like "crazy like a fox".
Liars.
Got a briefcase full of IOUs. Trade it with you for some gold.
I'm talking real gold.....not COMEX Gold.
i might be interested in the briefcase...
http://www.youtube.com/watch?v=7GSXbgfKFWg
Let me guess the combination of the briefcase....007
GOLDFINGER !
Yeah, more like a Briefcase Full Of Blues.
Where have I heard that song before?
The finest economic "brains" in the world people:
"The International Monetary Fund (IMF) has been hosting a conference on rethinking economic policy, organised by four experts in the area, including the IMF's own chief economist.
One of the other organisers - the Nobel Prize winner George Akerlof of the University of California - had a vivid analogy for the state of uncertainty the economics profession now faces.
"It's as if a cat has climbed this huge tree - the cat of course is this huge crisis. My view is 'oh my God the cat's going to fall and I don't know what to do'."
Another one of the organisers, David Romer also of the University of California, picked up the analogy: "The cat's been up the tree for five years. It's time to get the cat down from the tree and make sure it doesn't go back up."
The trouble for the economics profession is, according to the last of the conference hosts and another Nobel Prize winner, Joseph Stiglitz: "There is no good economic theory that explains why the cat is still up the tree""
*SLOWCLAP*
http://www.bbc.co.uk/news/business-22223249
Bernanke says "Shoot the cat!"
I think the plan is to either drop bundles of paper from a helicopter onto the cat's head so it "voluntarily" falls out of the tree or to stack paper so high they can climb the tree. Solution #1 may kill the cat (failure) and solution #2 is a failure because the tree is surrounded by quicksand and they can't stack pallets of paper high or quick enough.
While those are the present "solutions" the ongoing modus operandi is to pile the bodies of debt slaves and serfs so high that the kleptocrats can avoid the quicksand and stand atop the carnage they wrought while they devise more "solutions".
Now their policies are the equivalent of taking axes to the tree to get that god damn cat out.
No worries, cats always manage to get themselves down from trees. You say that cat's been up there 5 years? Oh my...
short cat, long gold
Shoot the goddamn cat and then go get a dog.
Using a different analogy then...
I know for fact that you can always get more pussy (cat) if you have more gold.
Benjo Shalom says: you can shave a cat's balls many times, but you can only circumsize him once.
I thought his beard looked familiar.
Here is a better analogy: A parasite entered the cat and is slowly devouring it from the inside out.
The trouble for the economics profession is, according to the last of the conference hosts and another Nobel Prize winner, Joseph Stiglitz: "There is no good economic theory that explains why the cat is still up the tree""
Try Ludwig Von Mises's book "The Theory of Money and Credit"
Only been around since 1912!
Logical Positivists are fucking morons!
"What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit boom is built on the sands of banknotes and deposits. It must collapse."
"If the credit expansion is not stopped in time, the boom turns into the crack-up boom; the flight into real values begins, and the whole monetary system founders."
"The final outcome of the credit expansion is general impoverishment."
"Credit expansion is the governments foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending, to expropriate the capitalists, to contrive everlasting booms, and to make everybody prosperous."
"What is needed for a sound expansion of production is additional capital goods, not money or fiduciary media. The credit boom is built on the sands of banknotes and deposits. It must collapse."
Human Action by LvM. Published in 1949
They don't ever dare say the name of the dark lord out loud.
5 years in a tree w/ no food, and those are your best guys??
The big economic thinkers still believe in their flawed economic profession. Econcomics has evolved into statisticly driven economic modeling, practices by academics who have not worked in any "wage generating" activity in which labor is converted to capital. They do not have a clue, but have convinced politicians who also have not worked in wage generating activities, that they have all the answers. Perfect marriage of two useless occupations.
That said, economists are not capable of doing true economic analysis. Macro economic analysis is a function of human social behavior. I would be more impressed if this group had also invited the top people in social behavior to this meeting.
They are not trying to fix the system. Rather they are trying to prevent the current finacial system from imploding/exploding. Nothing new will come out of this meeting.
Exactly, they aren't trying to put the house thats on fire out (which is a better analogy), they are trying to keep people calm at the front door, and convince people of the merits of their firefighting effort, while the back door is wide open, and the 'select few' are smash and grabbing everything they can get their hands on. I mean, just the theft from seniors, by keeping interest rates so low, is of criminal proportions, and yet, most Baby Boomers haven't even caught on yet! What do they think is going to happen over the next couple years as they try to cash in their stock portfolio? Up, up, up???
When you utterly destroy the middle class, nobody cares about your cat. The rich got theirs, and everybody else can't afford a ladder.
These idiots don't understand the simple fact that people won't spend what they don't have.
They've been spending what they don't have for years, now their credit is tapped out. That is the problem.
the plan backfired.
instead of fleeing in panic, the peasants bought...and keep buying.
with leverage at 100:1, you have to be one lucky person to get the one ounce.
too bad, ben, lloyd, and jamie, the peasants KNOW what you've done, and what a pickle you are in.
and our hearts fuckin' break for you.
We may not know why, but I would suggest the plan didn't backfire at all. These guys don't do failure. They knew exactly what the response would be. The bigger questions are: how were the measuring the response? and why are they encouraging the concentration of pms in other countries?
The people never win. We need to look harder and smarter. Jesse's Americain cafe has an interesting piece that references Fekete's ideas regarding backwardation and contango that are a good place to start.
I think you are giving Bernanke and the boyz a lot more credit than they deserve. they are arrogant. they are isolated. they have no contact with the real world. think mitt romney and having no clue -- no connection == to average folks. they believe they are superior.....and that everyone else is stupid and easily led.
i think they've been stunned by the reaction in the retail markets. if they hadn't been, we would have seen them paper bomb gold down to 1K. silver down to 19.
Now they've made what was a very bad situation for them exponentially worse.
now the world is going to see them exposed...if they can't keep a very tight handle on the mainstream media.
this could result in major calls for breaking up the TBTF banks.
and.....god help us I never thought this might happen --- if things get very nasty, a takedown of the band of jokers at the CTFC.
In our universe, we parse units of currency in local, regional economies. In their universe, they create waves of value instruments with the purpose of enriching a small segment of the population, over the entire planet. They deal in trillions, not thousands. They live in sterile extravagance, while we aspire to a McMansion. In terms of scale, we have zero ideas regarding their map of the future- except it includes the continued dominion over us all.
I think they have been stunned that more people didn't participate and bring down the LBMA and Comex and are now looking at what price they have to hit to inspire the right amount of panic buying. Panic in China and India? Yes. In America and Europe- merely pressing. The premiums have gone up, but they are manageable and mines are accepting the new price schedules.
Stock is delayed in silver, but still obtainable, especially from NTR. Gold is very available in most forms with a $55-60 premium.
Why would they breakup banks? Only if they have something better in store- and not better for us.
Think of this Boston bombing, for eg. Do you want to concoct a story that will convince/fool the top 5% most intelligent members of society, or do you concoct a story that will convince/fool the other 95% of the population? Because one story is unlikely to convince both groups.
So transferring the analogy to the gold smash, I think they knew what the reaction would be from 90% of those in the West, and they likely knew what the reaction by the other 10% would be. So in that sense, they knew what the outcome would be, and it was what they wanted (granny sold her gold earrings), but that doesn't mean they control the entire outcome (Middle East, India, China, and stackers doing what else... Stacking!)
"Ain't we got all the fools in town on our side? And ain't that a big enough majority in any town?"
- Mark Twain
@ Sean7K:
My thinking is leaning in the same direction, that the plan is moving, according to plan. These guys aren't stupid.
Something to think about:
There is no way to clear the derivatives mess from bank books. The amount of "money" simply doesn't exist. They know this too, and it wouldn't be the first time that "someone set fire to their own house, so they could collect the insurance money".
No, there isn't, but who could payoff any default? Could this be the way they get rid of the big bank structure to pave the way for something wicked this way comes?
Unfortunately, there are too many scenarios right now to narrow the focus and we probably won't know for certain until just before they lower the boom. On the other hand, WE will probably have some inkling, the general public will just get hosed.
I agree and think a reset is coming. Follow the flow of gold and I think the picture becomes more clear. Here's some history that should put today's shift of gold from West to East in perspective (from Julian D.W. Phillips of Gold Forecaster)...
"When the U.S. dollar was devalued in 1935, it was done so only in terms of gold. It was not devalued against foreign currencies. Exchange rates were then fixed against each other. Other governments did not devalue their currencies against gold. The result was that while gold was trading outside of the U.S. in the foreign currency equivalent of $20 there, it was trading at $35 in the U.S.
With markets relatively unsophisticated in those days, alongside limited communication abilities the original arbitrageurs [dealers between two markets] found they could buy gold at the foreign currency equivalent of $20 and sell it into the U.S. for $35. Is it any wonder that the U.S. gold stocks roared up to 26,000+ tonnes?
Was this a financial error in an undeveloped world? We have no doubt it was not. It was the ideal quick way to shift the gold reserves of Europe away from the war zone to the relative safety of the U.S. The war arrived in Europe four years later.
But foreign governments weren’t stupid. European governments permitted this move, even though it was seen as a market event. Remember that gold was the basis of money then so such a shift had to happen with government approval. This had to happen within the monetary system in force at the time. The fact that it happened so smoothly implied total government cooperation.
We see it also as an example of how the banks work completely with monetary authorities to ensure complete control over the monetary system. The same is true today as we see the efforts of governments primarily directed at repairing the banking system and government finances with scant attention to the national economies below them.
With a war on the way Europe sent its gold to the U.S. without governments being seen to do it. The move came about as a result of ‘market forces’.
But you may rightly say that surely that wasn’t the end of the story? Of course not!
With a huge U.S. army based in Europe after the war, the flood of dollars from the U.S. to Europe happened from the forties right through to the sixties [Eurodollars] continued. European nations, including France, Italy, Switzerland and Germany led by President de Gaulle, kept selling their U.S. dollars for gold. Once Europe’s gold returned to it [as the war was out of the way and reconstruction just about complete], Europe had its gold back. Then the change in the monetary system occurred and the dollar (the exclusive currency in which nations could buy their oil to run their economies with) closed the gold window and excluded gold from the day-to-day system but remained in national vaults. It was then that the experiment, now 42 years old, in un-backed paper currencies began. European central banks were then rewarded by the extraordinary rise in the gold price in the seventies and eighties.
This two-way process of gold to and from the U.S. only became visible with hindsight."
Nice work.
Shows me how little I know.
Amazing insights...almost like the good ol' days on the Hedge.....
I would love to meet a Muppet...they truly must be one of a kind.
muppets actually made money this time -- 10%. far less, of course, than what GS usually makes on its recos designed to fleece the muppets.
that said, this one was done under government orders......so it wasn't like GS could do its usual full frontal on the clientele.
thing to watch is what they do now......i'm sure they were buying hand over fist during the 1300s.
They could be a manly muppet.
http://www.youtube.com/watch?v=2MFn8L9tIrg
The 'Muppet' doesn't matter. Focus on what you CAN do.
Each beat-down strips another layer off the bullion market, as different supply types and unit sizes disappear (change owners).
The first layer we saw getting stripped in the paper-to-bullion conversion, is the retail level of coins and 1-10 oz silver bars.
The next layer to go will be the rich retail market. 100-400 oz silver will go, as well as 1-10 oz units of gold.
At the same time, the CBs of BRIC+ countries are buying up the 400 oz gold bars by the ton.
When all the bullion is sold off, the big players will act. Buy that's for another time.
Silver is a better buy right now:
The GSR (Gold/Silver price) is getting really hight which means Silver is getting very depressed.
I compared the silver price to copper, oil , the commodity index and the usd index. It got quite depressed versus all of them recently. That means Silver has been hammered much harder than anything else. That makes it a bargain right now.
Another info that you might find useful is the following:
I got daily gold and silver prices from 1968 to 2011 some time ago from the LBMA website and used it to do some statistics. Here is what I found:
The probability for the GSR to be < to:
55 = 48.9 %
56 = 52.2 %
60 = 60.3 %
67 = 72 %
72 = 80.8 %
77 = 90.1 %
86 = 95.8 %
97 = 99.9 %
99 = 100 %
As you can see Silver becomes a good buy for a GSR > 55.
We are now at GSR> 60 so we have a > 60% chance to see Silver outperform Gold.
If the GSR goes to > 77 there would be a > 90% chance to see Silver outperform Gold.
At that point exchanging Gold for Silver would be a no brainer.
Statistics is a lie.
Where are Asians lining to buy silver ? None. They only like Gold, just like all ce tral banks.
Only misguided western goldbugs like silver.
Place your bets. I say GSR moves above 100
How much gold does Apple use in their computers?
How much copper is used by builders in their buildings ?
Gold has a 100 year supply overhang, but is it being sold ?
Silver is like nickel, copper, iron, wheat, You just consume them each year.
Are you even remotely aware of how much silver China is mining and importing? They export none.
Wrong. China exports Silver but they do not export Gold, which they mine.
Thanks El Indio, this is great stuff. I follow your silver calls which have been accurate for quite a few turns now.
To answer that question read Grant Williams piece out last night - the only comments that make any sense. Where are you Tylers? Missing the boat - who the fuck cares about Goldman?
US Growth? What, in food stamp numbers?
Growth?
Like Pinocchio's nose.
Fucking lowlifes should not be allowed to have Gold in their names.
so another smack down coming then?
Right, to meet their $1,200 call. They just don't want to be in the trade because of all the phyzz they're buying. At least their call is lower, how do they justify to their clients otherwise? What a joke.
Possibly, but the smackdown in China today happened due to the weak Chinese PMI.
You would think that Goldman/JPM/et. al. wouldn't use the word "conviction" - convictions can't wane if there aren't any arrests made in the first place.
Oh... Wait.... Nevermind.....
who the hell sold their gold? Were they collecting paper?
Not just any piece of paper! Its a piece of paper that says you have a piece of paper that says you own gold.
I want to get whatever the hell Goldman is smoking.
Hopium and belly-button lint. Its a potent cocktail.
I don't know what Goldman is smoking... But if you're taking their advice, YOU are smoking circumcised poles...
They're not smoking anything. They're telling the muppets to sell so they can buy cheap.
No, Sell Gold on the 24/25th and and buy back on 2nd Of May
Eh?
Chinese banking holdiday from April 29th-May 1st and options expiry on April 25th.
did you mean the ooposite?
when i say "sell" i mean short. never sell your gold. but the trade above is the plan
two things you never sell; gold gun
don't buy it if you cant keep it for life and pass it on to kin...
this assumes you have a pot to piss in.
"...as conviction in holding gold continues to wane..."
Ahem...that's holding gold PAPER ?!?!
1000 tons have gone to Shanghai now over the last couple weeks of this "intervention".
the days of the dollar are ending.
welcome to the third world.....
and all this is happening to save the banksters' butts.
UNREAL>
"the days of the dollar are ending", might be, might be, but I had a good friend that started to say that on August 15th, 1971 and repeated this in his letters every August thereafter, until 2001... the USD outlived him
I have a good friend who is an investment banker. I asked him a few years ago when Greece would default on his debt. He (necessarily) is very "bought into" the system. He basically very reluctantly agreed that it was going to happen. But he allowed a lot of wiggle room that it might work out. Said something like: ' You would be surprised how long these things can take to resovle and what might happen along the way.'
Of course Greece has defaulted many times in the last few years. It's just that the ISDA won't call a spade a spade.
so far, we've seen the aussies walk out on the dollar in trade with china
half of asia with their emerging trade union
brazil
russia
turkey
france
and several smaller countries....
its vaporizing beneath our feet.....
so it might not have been happening in 1971, but it sure is shit is happening now.
all its going to take is one arab country walking out now..... and its game over.
anyone selling their gold or silver bullion now is simply deranged.
China and KSA are already working together building refineries and not using the USD to do so. KSA exports more oil to China than the USA.
It takes a while for an empire to end. Faster today than ever before though.
GOLDMAN SACHS = FILTHY SCUM
What pisses me me off the most is their "in your face" behavior that that they can do what they want by their manipulations, knowing they have the backing of governments. Taking credit for their "trading calls" and telling the public how well their research is. Screw them all.
When the system collapses, they will have nowhere to hide or run. They will be caught in the streets and strung from the nearest pole where they belong.
Exactly!
When the public come looking for the architects of this disaster, how is Blankfiend et al going to protect themselves?
What if people start crowdfunding executions of these kleptocrats?
In the interconnected world of the 21st century, I just can't see how these wankers will get away with it!
Vive la (anarcho-capitalist) revolution...
jamie dimon bought hisself an island in micronesia last month. you think these guys are gonna stick around? get real. they are readying their bunkers now.
And a little reconaissance will locate the stupid fuckers! Find the island, and you've found Dimon!
How does a bodyguard protect you from a sniper rifle a mile away?
That's why they are toughening and dumbing down their police forces, and buying them millions of rounds of ammo and thousands of armored personel carrieres (with your money).
a bit of change in the wording of your sentence and you will not be so upset ... from "backing of government" to "owning" ... so, it is their little board game and if you dont like it so be it.
So where are the Chinese walls at Goldman? Looks like they don't exist if top executives like Blankfein and others liaising with the US Gov and with other central banks can 'influence' both the research department and prop traders. Did someone say SEC?
And anyway, who wrote this trade recommendation and it's closure statement. Who are the research guys, or is this a publication without individual names?
In India, Jewellery makers cannot get ANY PHSYICAL. This is how fucked up the exchanges have become.
WOW! Goldman still thinks that its statements/recommendations are relevant?
I wonder what GS had to do with the recent HUF rumourville about dropping the rate from 5% to 1% given the EUR/HUF buy recomandation made 2 days ago
And that's why they're buying and closing their short ??? Funny, even their lies don't make sense anymore.
to perfect a trade....its a we know it all trade..and you don´t....they knew the paper was going to be dumped...and they knew when it was going to stop too...rigged...they have computers right next to the NY Stock exchanges computers....and probably more....I wonder how Bart Chilton is dong on his investigation..probably got another cool million in his off shore account to look elsewhere again...no fox in this henhouse...you can bet they are buying the real metal....and have a safe place to store it for the "partners".....they know the paper market is dying out...that scam is over...so they are dumping the paper for the real metal....I too think the paper price will go down as people realize that there is no metal behind it....just a fee or two...and the day traders will move to NetFlix or some other play...
Buy! Buy! Buy!
See King World New today - already this morning:
Andrew Maguire interview on LBMA "default" refusal to deliver, and
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/4/23_Andre...
Jim Sinclair (trough King) friend refused delivery from Swiss allocated account - drug money laundering concern - although its OK for HSBC:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/23_Si...
What is going on is insane. The entire Western financial system will collapse.
Dude.....you can't actually say that crap.
Hold it down.....you're gonna scare someone.
I am inclined to think that their activities are in keeping with the final defense of the "new world order." There is also the legacy wealth of centuries tied up in fiat money regimes that must not be allowed to evaporate. They will defend all of this for no other reason than their belief that social order has to be maintained at all costs in order to still pursue the "one world order."
The governments have implicitly approved the gold price manipulation last week. They are looking the other way if not having commanded it. Much is made of the meeting of the heads of the hydra in the Oval Office a day before the gold crash. Make of that what you will.
The case that we are having the equivalent of a bank run against physical gold which has been fractionally reserved ad infinitum is very, very solid. I can only postulate what will happen. My educated guess:
1) AG Holder refused to prosecute obvious criminal bankers for drug laundering on grounds of banking stability,
2) The banks will be hard pressed to make good on the gold. There will be a huge argument over the settlement price. Would it be the average coin sales price, or would it be the price "arranged" by those same banks which now have to make good.
3) The government(s) have already revealed their attitude towards...shall we say...private property through the Cyprus action,
4) In the name of banking stability, the governments are likely to come in with a hard line and tell the gold holders to take the price dictated to them,
5) There will be massive litigation,
6) If nothing else, the nakedness of the banks will be totally exposed,
Will that collapse the system???? I think that it will usher in the change. That might be the break up of the big banks. It might mean the continuation of the games with a global currency e.g. SDRs. My rose colored galsses tell me the former. Survival instincts say the latter. At least in America there will be a lot of anger. Americans down deep don't trust government. Witness the recent refusal to regulate guns.
just a tad of confusion; this is the logical outcome of manipulation.
stand back, relax and play some chess with a great player and sharpen your skills.
think 4 moves in advance if you have a brain that can take 2 to the 4th power.
then multiply that by x(manipulation) and walla-who the fuck knows...
...our economists’ forecast for a reacceleration in US growth later this year.
Their economists either
1) believe this - in which case anyone taking GS' deserves the screwing they will surely get
2) don't believe this - in which case you want to be on the opposide side of whatever GS says to do from here forward
barter is becoming the new norm. when these brokers can not supply the demand they will go under with their overhead-no product. the beginning of the supply chain will hold out for higher prices as greed is in contol right now.
same, ditto, gov. manipulation; as is the ammo situation(h.s. buy of 1.6billion). 9mm .5/bullet blaz brass-say what? double.
markets are breaking apart as government/gs jpm-cartels of manipulation has created this.
what is next?
Goldman Sachs will (if not already are) become the world's greatest contrary indicator. Whenever they say sell, buy, and vice versa.
I'm waiting for them to make a loud, boisterous call on stocks, like S&P 1750 or some other shit, so I can buy puts. Meanwhile their duplicity never ends. It is even in their own comments, after closing out their gold "short," they say:
Fucking wankers are so damn bold as to speak out of both sides of their cock-filled mouth at the same time.
Hang Blankfien and the rest of these crooks.
Did the muppets just get flipped for real ?
Short and distort, muppet bitchez.
It is pretty clear from recent gold price fluctuations that the price has hit support due to supply side destruction at the cost of production of an ounce of refined gold at around US$1400
If the price were to drop lower, the refiners would terminate supply so we now have market price/quaitity equilibrium.
This is similar to the situation back in the 90's when central banks like the Bank of England were selling off their physical holdings and the price hit bottom around US$250 per ounce, except now they market movers are dumping digital gold.
News of US economic "reacceleartion" without significant job creation and in the face of endless Quantitiative Easing is just dishonest disingenius reporting.
As the cost of gold production rises, it can be seen how gold bullion holdings are a hedge against inflation.
WHICH PRICE is at support?
Coin prices (not collector / numismatic) ?
Bar prices?
PAPER contract prices? These prices are now moving distinctly. Collectively they move sort-of together, sort of like how darts from a sabot all move sort-of together for a while.
The govt is revising the methodology for computing GDP:
http://www.youtube.com/watch?v=g5OfBxk00LI
Instant growth!
No problem buying in Canada.In Calgary or elsewhere you can go to Albern coins online,they welcome American buyers but you can only use a credit card for collector coins from the Mint(not for bullion).ScotiaMocatta has an online store and of course you can talk to Kitco.ca up here and open an account.I believe you need $2,500 to open with Kitco.ca and they don't use credit cards.Not sure about any taxes at the border.The other option is to simply buy through Sprott on the stock market. Gold is PHY.U , Silver is PHS.U , Plat. & Pall. are PPT.U ,Sprott is easy to find on the web. I believe their Company stock symbol is Sii -Toronto.Other options are precious metals royalty funds: FNY, RGLD, SAND, SLW. And finally,low mintage coins are available at the Royal Canadian Mint (Mint.ca),they also take credit cards for collector coins.
silvergoldbull.com is in Canada and keeps running out of silver inventory.
I got my deliveries pre-crash.
COLLECTOR COINS cost extra money, they are not an investment, they look pretty. You overpay for collector coins.
Fuck that.
Either Goldman is lying and everyone should be ready for a rapid rise,
or Goldman is lying and signalling they hear of deeper cuts in which case people should be ready to buy like gangbusters.
There's no long-term downside to gold, anyone selling gold to Goldman for fiat paper is finished
KingWorldNews has been reporting on the LBMA defaulting. LBMA actually stands for 'Ill Be Amazed', as in if they make it through May without being burned to the ground.
What else is left to buy when you own everything? Ultimate power. The honorable G. Edward Griffin nailed it.
If we are the 1% of Americans who even think about owning gold then we will be the new so-called "rich" when the rest of the country is left holding their dicks.
I never thought I would buy into conspiracy theories, but TPTB don't live in reality, they create it. Crash the dollar, impoverish the populace, and they will hand over their sovereignty...for their own good. We saw it with the bombers in Watertown. There was a time when the local citizenry would've formed a posse and hunted down those mother fuckers...not anymore.
Dimon, Blankfein, et al could easily sip Mai Tais and bang lady-boys in Thailand until they die, but I don't think that's the way they tick. They want it all.
This will end badly...by design. I hope I'm wrong.
If you invest through Goldman Sachs or bank with goldman Sachs you are fucking delusional and part of the whole problem.