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Post-Close Algo Acrobatics Send Gold Sliding, Spiking

Tyler Durden's picture


UPDATE: As if by magic, the 'spike' lower has been fully retraced with a 'spike' higher. Of course, in the preceding sentence one should replace "magic" with a selling algo suddenly taking out the bid stack simple because it is programmed to do so, only for another algo to step in and try to make the entire move less obvious, in the process showing just how much of a farce price discovery in paper gold has become...

With markets quiet, what better time than now to smash the 'price' of spot gold lower than the moment US futures close and all that is left are a few Spot FX traders. Of course this makes perfect sense for any 'rational' bullion seller looking to unwind a position (or even a short looking to set out a decent trade) - wait until there is no liquidity so that your price action culls the order book and leaves you with anything but 'best execution' - but then again, when you don't have to worry about MtM, that doesn't matter. It seems that while the volume cat's away, the gold manipulators will play...




Charts: Bloomberg


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Mon, 05/27/2013 - 14:04 | 3601428 longwind
longwind's picture

Wheeee! (Is it true goldbugs have more fun?)

Mon, 05/27/2013 - 14:06 | 3601434 THX 1178
THX 1178's picture

The blonde metal has been known to grease a few palms.

Mon, 05/27/2013 - 14:33 | 3601479 Big Slick
Big Slick's picture

I liken being a gold-bug to being a Christian. 

If & when you are proven right, paradise awaits.  In the meantime, you really don’t mind practicing the activity because you have steadfast faith in your belief AND derive a tremendous amount of pleasure from it. 

My atheist friends think they get to me by deriding my religion.  To the contrary, much like I imagine the gold doomers in the media or markets think they get to us through their continual derision and worse, dumping, of gold, their efforts are futile and actually quite amusing.

In the end, if I’m wrong, big deal…

In the Christian metaphor I’m worm food anyway…

In the gold-bug metaphor, everything works out and I just own a lot of gold while I participate in an economy that hums along.

Happily stacking & praying the Our Father…


Our Father who is in heaven

Hallowed be thy name

Thy kingdom come

Thy will be done

On earth as it is in heaven

Give us this day our daily bread

And forgive our sins

As we forgive those who sin against us

And lead us not into temptation

But deliver us from evil



Mon, 05/27/2013 - 14:42 | 3601511 DoChenRollingBearing
DoChenRollingBearing's picture

This Rolling Bearing feels the same way, + infinity.

Mon, 05/27/2013 - 15:00 | 3601548 RockyRacoon
RockyRacoon's picture

When all the smoke clears it will be said, "Who could have seen this coming?!"

Well, the list is long, that's who.   Wake up, CFTC, and the rest of you so-called regulators.

If this were going on with a popular stock, the SEC would be all over it -- not because they are known for doing the right thing, but because somebody more "important" than Ted Butler would be screaming about it.

It sucks to be wrangled around like this with nobody in charge taking charge.

But since nobody goes to jail for outright theft and manipulation any more.... who cares?

Hell, they don't even lose their jobs!

Mon, 05/27/2013 - 16:31 | 3601755 Al Gorerhythm
Al Gorerhythm's picture

But since nobody goes to jail for outright theft and manipulation any more.... who cares?

Hell, they don't even lose their jobs!

The apologists are painting the meme that the heads of government and their departmental managers are not responsible for the actions of their underlings. Joe the janitor will be ultimately held responsible for the illegalities of the Department of Defence's loss of the $2.5 Trillion that Cheny couldn't trace. Sally the tea lady will be held responsible for the Attorney General's signing off on the AP wire taps. Acording to the guy above on FOX News, Eric can't be held responsible for the criminality of the department he oversees, because he is just the Robo-signing figurehead of his minion run department. Hell, is he even a lawyer?

There are no directives from above; the staff just come up with bat shit crazy policy and he just has to place his signature on them. If that's all that the Washington honchos do, then, what's the point of office? Sack them all so that we can point the finger at someone. Watch your back, Sally.

Mon, 05/27/2013 - 16:34 | 3601774 AmCockerSpaniel
AmCockerSpaniel's picture

TPTB can not own you if you own gold. Happiness is just a state of mind, and we all have long term control over our own minds (but only if we will it). When others use words to change your mind set, you can take comfort that it is they, and not you, that have lost control of their minds.

Mon, 05/27/2013 - 15:01 | 3601522 ZerOhead
ZerOhead's picture

Son... Christianity was created (then marketed and legally enforced by Consantine I et al. through to the numerous papacies) to train you to turn the other cheek and peaceably and politely take it up the wazoo hole.

Kindly continue to "render unto Caesar what is Caesar's and unto the priest's what is your G-d's" all that which used to be YOURS... good sheep that you no doubt are. (and I'm sure you're probably a decent bloke at that!... :)

And just like with the Federal Reserve and TPTB you'll get your reward after you're dead Kid.

In the meantime they've got this ginormous shitshow podged together with duct tape and bailing wire and it's beginning to show some cracks...

Mon, 05/27/2013 - 15:01 | 3601550 joak
joak's picture

Well Son... In Christianity, lending with interest was a sin, same in Kuran (search on riba). Actually, only judaism highly encouraged usury, which explains why so many bankers are from the Jewish community. It changed with the Protestants... So if Christianity wisdom would still be in force today, I don't think this website would exist. If interest would be illegal, I don't see why CDS, derivatives, etc would be legal. I don't know if God exists, I know the Pope is not the living rep of God, but if Christian moral code would be applied today... Wall Street and the City would not exist. Amen.

Mon, 05/27/2013 - 15:17 | 3601572 ZerOhead
ZerOhead's picture

Ponder this...

Christians ARE Jews in the sense that Jesus never refuted the words of the God of the 'Old Testament' while he was alive. They are just cursed with a Social Conscience that Jesus instilled in his teachings that makes it tougher to make a buck off of people and feel good about it.

Then there is that whole bogus thing about the lineage of the 'Family of King David' thing which never really existed (no archeological evidensce for it anyway)... I mean 700 wives and 300 concubines? WTF is with that? the entire cowtown of Jerusalem had only 1,000 inhabitants in 1,000 B.C.

And EXODUS? Give me a fucking break... 600,000 male Jews left Egypt (Around 2,000,000 total with wives, families & slaves etc.) while the population of Egypt was around 4 million at the time and NOT a word about it in the historical Egyptian texts even though the Egyptian written records go back almost 2,000 years before the supposed time of Abraham and his sister spouse Sarah if they existed at all...

Don't get me started... I am a FORMER and still recovering Christian nutjob...

Mon, 05/27/2013 - 15:22 | 3601588 Hulk
Hulk's picture

700 wives !!! Thats 2 anniversaries and 2 birthdays a day. Fuck that shit !!!

Mon, 05/27/2013 - 16:12 | 3601721 ZerOhead
ZerOhead's picture

Don't forget the concubines either... they can really make life hell for you...

  1 Kings 11:1-3

New International Version (NIV)

Solomon’s Wives

11 King Solomon, however, loved many foreign women besides Pharaoh’s daughter—Moabites, Ammonites, Edomites, Sidonians and Hittites. They were from nations about which the Lord had told the Israelites, “You must not intermarry with them, because they will surely turn your hearts after their gods.” Nevertheless, Solomon held fast to them in love. He had seven hundred wives of royal birth and three hundred concubines, and his wives led him astray.

Mon, 05/27/2013 - 16:37 | 3601780 Al Gorerhythm
Al Gorerhythm's picture

Fuck that. 300 screeching at you to take the garbage out. Drive a man to drink!

Tue, 05/28/2013 - 19:24 | 3605572 Big Slick
Big Slick's picture

"Well Son... In Christianity, lending with interest was a sin" - joak

Dear Dad - According to Christianity's highest authority (the Man Himself) lending with interest is no sin.

Matthew 25:14-30

I think we can agree Christ would never posit sinful activity within a parable in order to teach a virtue. 

Mon, 05/27/2013 - 17:05 | 3601849 Hulk
Hulk's picture

Thats my experience too, its the foreign women that do you in , portugesebites,asianbites,ukranianbites and persianbites ...

Mon, 05/27/2013 - 17:36 | 3601937 TuPhat
TuPhat's picture

Zero, you seem to be very proud of what you don't know.

Tue, 05/28/2013 - 00:32 | 3602738 ZerOhead
ZerOhead's picture

I'm not proud of anything 2Fat.

I just know what I know and am not afraid to do the research and check out the actual historical record of the evolution over the centuries of the political document known as "God's Word"or the Bible. I mean if you love HIM so much wouldn't you think it rational to want to get to know HIM better? I sure did.

It proved to be my undoing in faith. He feel as hard as The Tooth Fairy, Easter Bunny and Santa Clause. And such a violent book at that... killing raping and disposessing other nations all to his glory of his chosen people. It may have been good instruction back in tribal bronze age culture but it sucks badly now. The god of the bible is a classic psychopath. Narcistic, homocidal and jealous, demanding of worship and to be placed above the other gods... oh hold it... I thought there was only one...


It's just sad that you have already surrendered your critical thought processes over to one of the thousands of gods that are still in existance with absolutely no evidence for any...

I mean couldn't an all powerful GOD give us a sign of some sort to remove all doubt (and those thousands of other false gods) ?

Of course then we wouldn't require faith.

In God We Trust The Man Behind the Curtain...

Tue, 05/28/2013 - 09:56 | 3603351 Drachma
Drachma's picture

If one needs to get to know their creator better, whatever that may be, one need only look to one's own mind, not someone else's book, and no faith need be involved. The Bible is a book about the ultimate control-freak, written by control-freaks, for subjugation of those without any sense of control.

Mon, 05/27/2013 - 15:23 | 3601591 walküre
walküre's picture


Common sense is prevailing. Christianity is a "lighter" form of Judaism. Been there, done that. Couldn't get the answers I was hoping for. There's more to anthropology than the last 2000 years of Judeo/Christian worldview, context and imperialism. Most scholars can't even get their time lines straight.

Mon, 05/27/2013 - 15:40 | 3601636 john39
john39's picture

judeo-christianity is an oxymoron...  Jesus pointed out that te pharisees were basically worshipping satan, and those same people are still at it today...  btw, the Koran expressly endorses gold and silver for money precisely for the reason that it is honest money, as opposed to the beast paper we are all currently forced to use.

Mon, 05/27/2013 - 15:53 | 3601656 Lore
Lore's picture

Here's a quote, followed by a question:

Lay not up for yourselves treasures on earth, where moth and rust does corrupt, and where thieves break through and steal: But lay up for yourselves treasures in heaven, where neither moth nor rust does corrupt, and where thieves do not break through nor steal: For where your treasure is, there will your heart be also.  - Matt 6:19-21

What in God's name is the Vatican doing with a big hoard of gold?  :X

Mon, 05/27/2013 - 16:03 | 3601697 SubjectivObject
SubjectivObject's picture

 Because they looooooooooove it,


for its symbolism.


<jackoff snarkoff>

Mon, 05/27/2013 - 16:19 | 3601737 john39
john39's picture

>> vatican

teamed up with the pharisees... Martin Luther pointed that out a long time ago...  

btw, hoarding and using a medium of exchange (gold) are not really the same thing...

Mon, 05/27/2013 - 23:07 | 3602639 cornflakesdisease
cornflakesdisease's picture


20 In God’s eyes, Satan’s entire world is bloodguilty. Its political systems, portrayed in the Scriptures as vicious beasts, have slaughtered countless millions, including many of Jehovah’s servants. (Daniel 8:3, 4, 20-22; Revelation 13:1, 2, 7, 8) Hand in hand with these beastlike powers, business and science have worked to create some of the most heinous weapons imaginable, making huge profits in the process. How true that “the whole world is lying in the power of the wicked one”!—1 John 5:19.

21 Because Jesus’ followers are “no part of the world” but remain strictly neutral toward its politics and wars, they avoid personal and community bloodguilt. (John 15:19; 17:16) And in imitation of Christ, they do not respond violently when others persecute them. Rather, they show love for their enemies, even praying for them.—Matthew 5:44; Romans 12:17-21.

22 Above all, true Christians avoid involvement with “Babylon the Great,” the world empire of false religion and the most bloodguilty of all. “In her,” says God’s Word, “was found the blood of prophets and of holy ones and of all those who have been slaughtered on the earth.” Thus, we are warned: “Get out of her, my people.”—Revelation 17:6; 18:2, 4, 24.

23 Abandoning Babylon the Great involves more than having one’s name removed from a membership roll. It also includes hating the evil practices that false religion condones or openly advocates—such things as immorality, political meddling, and the greedy pursuit of wealth. (Psalm 97:10; Revelation 18:7, 9, 11-17) How often these activities lead to bloodshed!

The Vatican will soon be destroyed as will almost all organized religion by a change in world governement and the general population in their view of religion and it's usefulness.  Religion's support will contine to dry up and fizzle.

Mon, 05/27/2013 - 16:16 | 3601728 walküre
walküre's picture

Judeo-christian worldview or world order is commonly accepted. If the Koran says that than why are even islamic countries using counterfeit money? Does Iran even have gold or silver coins? Just asking.

Mon, 05/27/2013 - 16:21 | 3601741 john39
john39's picture

look around, evil runs the show for now, and has for along time.  Jesus taught a lot of things that most so called Christians manage to totally ignore...  i don't really blame Jesus for that.

Mon, 05/27/2013 - 17:09 | 3601860 walküre
walküre's picture

The concept of Christ and ideology in terms of Christianity has value, I'm not going to argue that. Many good things being done in that spirit or at least claiming to do it in the spirit. But are charity and charitable actions exclusive to that spirit? Was there no charity anywhere before the days of "Christ"? There's good evidence that the idea of Messiah was adopted by several people who claimed to be the Redeemer during the days of Roman occupation. So essentially that spirit of Christ was known before "The One" was born, raised, preached and executed as others before him. It's a shame the library of Alexandria burnt to the ground where many texts had been kept over centuries. Texts that recorded history from different POVs other than the the Jewish fairy tales and fables or the attempt by Christian writers to establish a new world order with the birth of the Christ. They succeeded in many ways. Not by divine intervention. Simply by political power and influence. That is the world order to date.

Mon, 05/27/2013 - 19:10 | 3602126 trader1
Tue, 05/28/2013 - 02:55 | 3602877 joak
joak's picture

Of course Jesus has refuted the old testament, what do you he think he did when he expelled the moneychangers at the temple (with some violence and anger, BTW), for example ? And yes he refuted it very clearly when he proposed a new alliance, that was rejected. Anyway it's so obvious, the Old and the New testament are like black and white. When I was a kid, I asked many times how God could be a complete racial psychopath in the Old Testament, and the incarnated Compassion in the new one. Never got an answer ; for me, it's clear that those 2 books have nothing to do together. I know the old testament is crap, the exodus is a fairy tale (Schlomo Sand). For me, Jesus tried to change his society with positive values and rejected judaism ; 

Christianism is the new testament, judaism and protestantism are the old testament. Jesus does not say it's a sin to make money ; it's a sin to make money on other people work, and it is what finance does.

For the facts that you mention... well, I thought we were having a discussion about Christian moral code, which was my only point (I was raised in a Christian family but since my childhood I'm an agnostic, my point is just that we would be better off if we would follow the Christian moral code. I'm sorry but I prefer catholics to pussy riots, and all that shit they promote to destroy christian values).


Mon, 05/27/2013 - 15:14 | 3601569 booboo
booboo's picture

"Son... Christianity was created (then marketed and legally enforced by Consantine I et al. through to the numerous papacies I et al. through to the numerous papacies) to train you to turn the other cheek and peaceably and politely take it up the wazoo hole"

well that was a mangled take on christianity. The guys who profess christianity that I know would fold you up like a cheap lawn chair if you tried to invade the several square feet they were occupying much less try to force something up their ass, but you can only go as far as you have been led, right?


Mon, 05/27/2013 - 15:41 | 3601638 akak
akak's picture

It's both funny and sad how many people can be awake to the innumerable crimes of the sociopaths who claim to be our "leaders" while at the exact same time falling prey to the equally pernicious delusions of organized religion.

Mon, 05/27/2013 - 16:05 | 3601680 Lore
Lore's picture

Re: "well that was a mangled take on christianity."

He actually summarized most organized religion quite well, including the carbon tribute-demanding save-us-from-ourselves Gaia Cult.  Original spirit of pursuing God's Truth notwithstanding, all the religious institutions seem to be hijacked by rotters in the quest for better mechanisms of control.

There are truly good people out there, but don't look to Man's edifices for God's glory.

Mon, 05/27/2013 - 17:23 | 3601899 zhandax
zhandax's picture

He actually summarized most organized religion quite well

Don't confuse "organized religion" with Christianity.  They are as different as news and what's on CNBC, CNN, or FOX, and for the same reason.

Mon, 05/27/2013 - 22:28 | 3602521 Lore
Lore's picture

I thought that was implicit. Whatever Jesus actually preached is a matter of conjecture. He would probably regard the modern church as an abomination.

Mon, 05/27/2013 - 17:04 | 3601846 MeelionDollerBogus
MeelionDollerBogus's picture

These days there's just no comparing Christians vs those who seek to follow words of peace of Jesus Christ. I'm an atheist and I'm happy to have neighbours who follow those words of peace & sheepliness even if I don't want to. They won't be trouble. MODERN DAY Christians, they're a heap of trouble, war & murder and I can do without them.

Mon, 05/27/2013 - 14:51 | 3601532 oddjob
oddjob's picture

I liken all religions as opium for the incredibly weak and ignorant. Gold bugs are not god bugs.

Mon, 05/27/2013 - 15:32 | 3601611 booboo
booboo's picture

That was an incredibly weak and ignorant argument, so whats your crutch? booze, pot, your evening date with your hand? Of course academia and leading scientist have done a wonderful job of reach new heights of humanity, you know, with the war, (no, it is not a holy war as much as you would like, it's a protection racket for hard assets) Democide (done by godless statist) Monsnato, nope, global food domination, no God under that rock. Hey, maybe we need to give some libertarian christian guy a whack at it afterall, can't hurt, the godless statist have been fucking it up for a century, so I guess their opium is fucking up eh? yes, give them "moar" power, thats the ticket. It seems to me as much as the mainstream vilifies christianity it is pretty clear what is going on, unless the mainstream is right on ONE subject, yea, thats it, what a what a stroke of genius.

Mon, 05/27/2013 - 15:47 | 3601648 oddjob
oddjob's picture

Do I need a crutch?.....don't project your closet statism upon me, it has no place here. Your so blessed religions Catholicism and Judaism, they fit together like rape and murder.

Mon, 05/27/2013 - 16:21 | 3601743 booboo
booboo's picture

So statism is your crutch, got it.

Mon, 05/27/2013 - 16:24 | 3601750 oddjob
oddjob's picture

and chanting is yours, how medival of you.

Mon, 05/27/2013 - 17:15 | 3601874 WAMO556
WAMO556's picture

Sounds like your religion is ATHEISM.

For the past 100 years it has been murderous atheistic governments that have slaughtered millions all in the name of the STATE!

Abortion and Illegal Immigration are linked. So instead of having American citizens "who are natural born" citizens, we allow illegals to come here (who also have no background in liberty, freedom and have no intent of ever assimilating) who actually pay no taxes, freeload on the system, use there illegal status to NEVER support the system. Their culture and belief system are about slavery, subservience and subjugation.

We have allowed the continued SLAUGHTER of innocents and we couch the LIE in the euphemism "pro choice", when the real term is PRO DEATH. IF YOU AIN'T FOR LIFE, what is the alternative?

We need the illegals to fill in where the slaughtered babies would have been.

ABORTION has allowed the rise of trans-national NARCOcriminal gangs that have invaded our country.

DRugs were flooded into our cities and suburbs (facilitated by the CIA and FRS) to fight an illegal war with???? IRAN! Again!

But the ultimate reason for ALL of this immoral and illegal activity is due to dishonest money (Fractional reserve banking, fiat printing, etc...)

Do you actually think that John F Kennedy was assassinated by: the Cubans, mafia, Russians, etc... It was the bankers.the very same types that had Jesus Christ killed after throwing money changers (bankers) out of the temple.

Mon, 05/27/2013 - 18:56 | 3602099 oddjob
oddjob's picture

which one out of 26 purported gods do you suggest?

Mon, 05/27/2013 - 19:57 | 3602247 WAMO556
WAMO556's picture

I personally don't know about polytheism since I am neither a Hindu, catholic, Buddhist, Taoist, catholic or Muslim.

The ball is in your court as far as what you want to believe and could care less until you try to make me care, then well cross swords.

Homosexuality is also a religion - a religion called HUMANISM. With that said, you have a choice of 6 billion gods you can get on your knees and pray to!

Mon, 05/27/2013 - 20:28 | 3602299 oddjob
oddjob's picture

How very unchristian of you.

Mon, 05/27/2013 - 16:41 | 3601796 Al Gorerhythm
Al Gorerhythm's picture

OK. I've got gold, booze, pot,and my hand, now prove there's a god.

Mon, 05/27/2013 - 14:53 | 3601536 savagegoose
savagegoose's picture

you mean your beliefs  beint usurped by the  biggest evil on earth to corrupt and control  and ruin civilisation for 1000 years?  i dont think  chri... umm gold, ,... hey you maybe rights

Mon, 05/27/2013 - 15:24 | 3601592 walküre
walküre's picture

So being a good sheep, you're going to surrender your stash when they come asking for it in the name of your church or your government? You would have to.

Mon, 05/27/2013 - 17:01 | 3601840 MeelionDollerBogus
MeelionDollerBogus's picture

I can't believe you just compared tangible money to a sky-fairy as if they were on the same side of history

Epic Fail.

Mon, 05/27/2013 - 14:41 | 3601507 Hulk
Hulk's picture

Speaking of Blondes and palms, years ago, I convinced a lady friend of mine to buy 10 Gold Maple leafs.When I delivered them to her and placed all ten of them in her palm, the sparkle in her eye, as her eyes locked on those gold maples in her hand, was one I will never forget !!! 

The moral of this story:

Buy Gold for Bitches, Bitchez !!!

Mon, 05/27/2013 - 14:44 | 3601519 max2205
max2205's picture

Less than 1%...big deal.  Try those flash dips last week.   One day there may not be an ask to bring them back up.   Locked down!

Mon, 05/27/2013 - 14:12 | 3601450 slaughterer
slaughterer's picture

Overnight there should be smash downs in PMs: low-vol + options expiry approaching.  To be expected.  PMs on sale tomorrow.  

Mon, 05/27/2013 - 14:34 | 3601493 walküre
walküre's picture

Can I get that in writing? Tomorrow is POMO "light".

Mon, 05/27/2013 - 14:53 | 3601534 slaughterer
slaughterer's picture

Tomorrow = Tuesday self-fulfilling prophesy = the lemmings have been trained to lift the market on Tuesdays.

The takedown in gold/silver should start between midnight and 2 am. and continue into London session, when the smashes will get even worse.  

The whole commodity space will be carried down as well, including nat gas and WTI.  It will be the way the Street gets over its Hamptons hangover.  

Mon, 05/27/2013 - 15:58 | 3601681 fonzannoon
fonzannoon's picture

Damn right. I have clients telling me we need to make sure we work around tuesdays now, as they are always up days.

Mon, 05/27/2013 - 16:03 | 3601698 disabledvet
disabledvet's picture

if Japan gets slaughtered tonight and tomorrow night then gold and silver are going to get crushed. the amount of demand off line if Japan is "disappeared" is simply staggering...almost impossible to quantify actually. knock on effects in London will be a sight to behold as spreads blow out for sorts of debt and "debt like" instruments. simply put: "europe goes bankrupt." you'll see devaluations in Spain, Sweden...obviously the Swiss franc is already falling off a cliff. the British Pound even? quite possibly. i wouldn't want to be long equities going into the open on Tuesday...this is the "real deal" when it comes to Demand Destruction. all eyes on the Federal Government and what ever policy implications result from said "escape velocity." the Mandarins are talking tough that's fer sure....

Mon, 05/27/2013 - 16:59 | 3601836 MeelionDollerBogus
MeelionDollerBogus's picture

Good. I have some SLV calls to buy & I'd prefer to get 'em cheaper. It's only marginally cheaper to where I think silver & SLV will go by 2015 but that suits me fine.

Mon, 05/27/2013 - 14:04 | 3601431 Schmuck Raker
Schmuck Raker's picture

I can hear circus music. Anyone else?

Mon, 05/27/2013 - 16:15 | 3601725 disabledvet
disabledvet's picture

here's the song i'm hearing:

Mon, 05/27/2013 - 14:08 | 3601442 BadKiTTy
BadKiTTy's picture

All your algos are belong to us.......

Mon, 05/27/2013 - 14:09 | 3601444 BurningFuld
BurningFuld's picture

Markets have become a complete fucking joke. Just nod if you can hear me. Is there anyone at home?

Mon, 05/27/2013 - 14:28 | 3601482 Ignatius
Ignatius's picture

Sometimes I wish I had a more criminal turn of mind.  Ever get the feeling that there will be those with such a turn of mind looking back at this lamenting wistfully, "Now those were the days."

Mon, 05/27/2013 - 16:45 | 3601806 Al Gorerhythm
Al Gorerhythm's picture

Amen, brother. (Nodding) Amen. (Still nodding).

Mon, 05/27/2013 - 14:10 | 3601445 DogOfSinope
DogOfSinope's picture

This is like children playing restaurant game with a kitchen set toys: make-believe cookies are served, make-believe tea cups are poured, make-belive money changes hands...
But after a while, when they get REALLY hungry the game stops and REAL dinner won't be served before all toys are neatly packed and all hands are thoroughly washed.

Mon, 05/27/2013 - 14:33 | 3601489 Jonas Parker
Jonas Parker's picture

The banksters could wash their hands in boiling acid, and their hands still would never get clean. This "game" won't end until the "make-believe" paper gold is consigned to the garbage can. And banksters are always hungry... their stomachs are never filled, no matter how much of other peoples' food they can get!

Mon, 05/27/2013 - 14:11 | 3601446 FranSix
FranSix's picture

I suppose in the advent of failures to deliver, that gold lease rates aught to spike, much like failures to deliver treasuries are resulting in negative nominal rates on the repo markets.

Mon, 05/27/2013 - 16:19 | 3601736 disabledvet
disabledvet's picture

explain. (i'm just guessing here but you seem to be arguing all those levered to the friggin' hilt now our shown to be a bunch of posers with neither gold nor interest rates are in fact soaring on the "barbaric relic"...if you can even get any of the stuff" thus causing a "market failure" and a striking collapse in price. what else is overbought to insanity here? hmmmmmm.)

Mon, 05/27/2013 - 14:11 | 3601447 debtor of last ...
debtor of last resort's picture

Commodities in space bitchez. First step on the moon, by whom?

Mon, 05/27/2013 - 14:15 | 3601454 ApollyonDestroy
ApollyonDestroy's picture

My gold's worth more than your gold

Mon, 05/27/2013 - 14:21 | 3601465 Youri Carma
Youri Carma's picture

Typical WTF!-Gold??? if you wonna know what typical is ;)

Mon, 05/27/2013 - 14:32 | 3601473 Xue
Xue's picture

Sometimes I wish the US does not exist, because the highest gold volatility is always seen when your market is opened, and most of the time, it goes down during that period. And after the US market session, we in Asia try to put the pieces together and buy the fucking dip.

Anyway, thank you yankees for selling us the physical stuff.

Mon, 05/27/2013 - 14:33 | 3601491 laomei
laomei's picture

Think of it this way... they are making real gold cheaper while they get left holding useless paper

Mon, 05/27/2013 - 16:24 | 3601748 disabledvet
disabledvet's picture

is it loanme? "what type of inflation rates you got going to get throws spectacular growth rates again"? don't tell me you're compounding at 10/12 percent...i ain't like Venezuela ain't got oil either bro. "it just costs them 100 billion to get it out of the ground" as they say.

Mon, 05/27/2013 - 14:34 | 3601494 Jonas Parker
Jonas Parker's picture

Xue, you're welcome (I think).

Mon, 05/27/2013 - 14:53 | 3601535 DirkDiggler11
DirkDiggler11's picture

Choose your words carefully Xue, some of us take great offense in being called a "Yankee"...

Tue, 05/28/2013 - 01:08 | 3602800 Xue
Xue's picture

ok, let me correct myself:

you yankees and southerners

Mon, 05/27/2013 - 14:28 | 3601480 lord of the flies
lord of the flies's picture

if people would understand how the real gold standard (with real bills) made USA the head of industrial revolution in the 19th century, there would be a revolution in usa starting tomorrow with the biggest sell of gold and silver by the us mint no matter what fiat debt currency priced!

Mon, 05/27/2013 - 14:34 | 3601495 laomei
laomei's picture

Actually it was mainly based on the blatent theft of IP and completely ignoring any claim made against it.

Mon, 05/27/2013 - 14:41 | 3601504 akak
akak's picture

Are you sure that you do not want to simply blame it, as your anonymous compatriot here incessantly does, on "US 'american' citizenism, whose blobbing-up nature is eternal"?

Make me laugh.

Tue, 05/28/2013 - 01:53 | 3601827 MeelionDollerBogus
MeelionDollerBogus's picture

"intellectual property" is blatant theft of innovation from a free market that works best with no such concept existing. Innovation should be unbounded. Removal of copyright & patents merely makes an environment were dumb people can't prosper & rich people can't re-sell information about inventions to keep everyone else poor.

Mon, 05/27/2013 - 14:40 | 3601503 walküre
walküre's picture

But paper pushers weren't billionaires and bureaucrats didn't have gold plated pensions.

There is so much fat to trim. The whole nation is suffering from obesity on every level. Government is obese and in turn has allowed an entire nation to morph into a nation of people who barely resemble a human being. Fake tits and ass, fake face and steroid induced abs on the one side and lard ass, lard face, lard tighs on the other side.

Freak show comes to mind. Of course gold isn't recognized for what it's really worth because everyone is too obsessed with the fake stuff. An ounce of gold is smaller than a chocolate bar. How is the ordinary obese American even able to appreciate that something that small is worth about 2800 chocolate bars? I mean c'mon!

Mon, 05/27/2013 - 14:30 | 3601485 cnmcdee
cnmcdee's picture

That is standard stop hunting and it is fully explored and explained in the book 'Beat The Dealer' where brokers call each other at off low volume times when they can manipulate the bid stack and the price is hammered up and down to hit the stops and when market reopens they have cleaned up a bunch of their clients money.. I study the graphs looking for lots of strong 'candle hairs' which shows their repeting pattern of such action - to which I follow up with Entry Limit orders to catch their stop hunts.. Thanks Brokers!!!  

Mon, 05/27/2013 - 14:33 | 3601490 FreeMktFisherMN
FreeMktFisherMN's picture

Nice, man, if you can identify where the stop hunts are likely to take place, might as well capitalize on it. 

Mon, 05/27/2013 - 16:51 | 3601820 MeelionDollerBogus
MeelionDollerBogus's picture

I bet Eric Hunsader has an idea or two.

Thankfully NANEX software, NxCore is opensource.

The feed needs payment but servers aren't free.

Mon, 05/27/2013 - 14:35 | 3601497 therover
therover's picture

Ladies and gentlemen.....start your algos. 

Mon, 05/27/2013 - 14:45 | 3601520 PontifexMaximus
PontifexMaximus's picture

Non c'è materia prima carissimo!

Mon, 05/27/2013 - 14:43 | 3601516 ...out of space
...out of space's picture

hard to understand this guys about manipulation on PM markets. coz no matter in what price you get PM coin and never sell you still got  that coin.  psychological affected about short/medium or even a long time price action? doubt it if you hold a phsyical and you know why you buy. and its not like you can buy on this dips.

but if you play on paper market its not matter which way price will go as long as you are on a right side of a trade.

and all you PM bugs complain about manipulation its just funny to me coz i know everybody buy some phsyical when it was on sell. i know i did and we all know how this will end. so the longer it take the bigger position you got. 

Mon, 05/27/2013 - 14:44 | 3601517 unwashedmass
unwashedmass's picture


i am bettting they try a major smash and grab tonight. 

all their usual smoke signals to each other have been visible this past week. 

the option expiry is tomorrow --- and they don't have the gold or silver to deliver. 

and, at this point, everyone knows that the CTFC is absolutely bought and paid there is no blowback guaranteed --- from the US regulators....


that said, it will absolutely crucify whatever microcosm of credibility the US financial markets have left ...

but the banks don't care...not a  bit...they will just move on after they utterly destroy the US economy. 

and as far as the US gold being allllllll gone? who cares? they won't be here, the destruction of the US as a world power is completely irrelevant to them. 

right, Jamie? Blythe? Ben? Gary? 

Mon, 05/27/2013 - 16:49 | 3601815 MeelionDollerBogus
MeelionDollerBogus's picture

But... but... Bart Chilton says he's found something NEFARIOUS!!

Mon, 05/27/2013 - 14:47 | 3601524 slaughterer
slaughterer's picture

Algos + summer interns = fuck ups.  

Mon, 05/27/2013 - 14:54 | 3601537 savagegoose
savagegoose's picture

everyone drops their shorts for weeekends now?

Mon, 05/27/2013 - 15:07 | 3601558 Yen Cross
Yen Cross's picture

     The manipulation in the gold market is beyond criminal! Look at this M-1 chart.


Mon, 05/27/2013 - 15:10 | 3601562 debtor of last ...
debtor of last resort's picture

Should i discuss paper prices, or keep stacking and wait for the inevitable Hamptons Hangover? I'm surprised though the paper pm 'markets' did make it till now...

When they tease me, i always jump on the phyzz...

Mon, 05/27/2013 - 15:49 | 3601595 optionsman
optionsman's picture

best words in the article: price discovery. lets stick to this theme across all markets where one would hope to one day establish free price discovery. please note that i did not use the word reestablish......the question is then: is there hope out there that markets will ever be a place for free from any manipualtion price discovery? if the answer is no, then the question really is whether we live in the capitalist society period.

Mon, 05/27/2013 - 15:36 | 3601624 ebworthen
ebworthen's picture

Futures and robot trading are much akin to FED money printing to infinity; they both seek to detach markets from reality - to provide the appearence of something that isn't so.

Mon, 05/27/2013 - 16:37 | 3601781 MFLTucson
MFLTucson's picture

The fraud is global

Mon, 05/27/2013 - 19:52 | 3602181 Fuku Ben
Fuku Ben's picture

Any of you religious zealots tithing your gold?

I didn't think so

Apparently your church is only good enough for fiat

You'll all burn in hell for your sins

Tue, 05/28/2013 - 09:36 | 3603273 WallowaMountainMan
WallowaMountainMan's picture

"a farce price discovery in paper gold has become..."

as if paper gold isn't a farce to begin with....

as are all paper commodities.

bid on it, buy it, take delivery. F.O.B destination. until and unless, then prices are poker gamed bluffes.

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