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About Those Gold Shorts....
One wonders: at what price does the squeeze of the collateral-scarce (as per today's ongoing negative GOFO) yellow metal begin, now that Bernanke has made it clear (supposedly) that the new gameplan is just more of the same old?
Source: CFTC CEI Gold Non-Commercial Short Contracts/Combined, CMXOGNCS
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Gold, bitchez! (Despite Jim Sinclair and the other pumpers.)
The longs in the paper markets are the real idiots. If they had any brains they would have dumped incementally long ago, buying each dip towards $0 and converting to bullion....
Wow look at the moves in commodities, fx, oil, right after his q and a. That asshole bernanke might have caused somebody to get a margin call and its liquidation might take down the whole system. Good job bernank, i think u just set off the first piece of a stack of doMiNos.
SQUEEEEEZZZE, SQUEEEZZE HAARD! Last short out of the pool drowns,...well, ..actually all but the first short out of the pool drown. Prisoner's dilemma for sure. Going to be fun to watch. I love the smell of burnt shorts in the morning!
We might be watching gold shoot up for the next couple days. We might be looking at 1,400 before the squeeze stops.
http://www.youtube.com/watch?v=8veFm0dnQOA
Them damned short people......:
http://www.youtube.com/watch?v=1NvgLkuEtkA
Never mind the paper shorts... it's the physical shorts, the failure to delivers is where it a happen' in's my gut on this.
Allo, Bundesbank! Quick everybody, get yours while there's still somebody elses' in the vaults!
In a day or two, after the DUST settles..., it might be wise to hedge a little towards the next shove down. These guys don't give up so easily, and dearly want your PM shares.
i'll let em have a couple ounces at 5000$
Short? who you calling Short :P :)
How much des it cost to mine and refine gold and silver? When the supply dries up, how much longer can the paper price control the markets? My guess is not very long.
You can say that again.
How much des it cost to mine and refine gold and silver? When the supply dries up, how much longer can the paper price control the markets? My guess is not very long.
We are running that very test right now.
it only costs $5 dollars to dig it out of the ground.
.
William Kaye: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2013/7/10_W...
Previous post: http://twoshortplanksunplugged.blogspot.com.au/2013/06/chinas-goldreserv...
My quote on reason: "The real reason Gold was systematically removed from the financial system (Globally) was to place it even deeper into the financial system (LOL). A Gold Standard is akin to Gold acting like the mortar between the financial bricks of the Global Economic Building however, removing the Gold simply meant that Gold then flowed into private vaults of the same entities who owned the Gold within Central Bank vaults in the first place. They merely relocated the financial strength."
http://twoshortplanksunplugged.blogspot.com.au/2013/05/gold-nwo-elitesth...
The average person doesn't own the vast majority of the Gold nor any of the Fiat system, nor will he/she. The best you can do is to own a small portion of Gold for (of) the next system.
You are far better off completely forgetting the paper Gold market; it's just a tool to control price and strip punters, nothing more. You can disconnect from everything now and you won't miss a thing, because everything now is false and/or misleading. Fundamentals are now concrete inevitabilities.
Soon the 'Custodians' will need to sacrifice their Fiat for a transfer. The West and East must trade places for the next (Chinese) Fiat Empire to emerge (every Empire needs its slaves, modern day slavery is simply ultra low wage producer nations). JPM, GS, HSBC and most of the TBTF will migrate with the physical Gold itself.
This Gold rout will end only when the Gold transfer cavitates and the Gold mines are secured (Gov or Bank). This isn't too far away.
PS. On a personal note; fuck am I getting hacked...iPhone, PCs etc.
My nine year old made some small clay models of food that were very nice, and they were displayed at the local library. She got them back yesterday and brought them in for me to look at as I was sitting at my computer. I asked if she intended to do more, and she said she didn't have any more clay, that grandma had bought it years ago overseas. I told her we'd have to buy some more for her.
The next day I was searching Ebay for something totally unrelated. At the bottom of the search page, there were recommendations from international sellers - just five, and all five were modeling clay produced overseas.
Same thing happened to me a few months back. A co-worker was talking about some fancy juicer I had never heard of. Later that day, blam... my phone ads start showing that juicer.
I did some research online, this is apparently old news that they are using our mics to illegally capture what we say and target us.
Teh G00glez r reading my minds
Google and other spy centers track some 20 types of electronic info from your computer. Typing, mouse movements, which hand you use, how fast you type, how your mouse moves (roll overs) icons and how long you pause over an icon before clicking. Also your wireless router and computer monitor emit lots of radiation that generates feedback signals your computer can be used to transmit back to provide more info on you. It may be someone else in your family used the same computer, or a different computer in the same household, to lookd for clay or items related to working with clay, but you as the bread winner, bill payer will get the ads as you are more likely to be the decider of what gets purchased. Everything you do with your computer, everything, is tracked and stored and used to build an ever more detailed profile about you and what you are likely to do.
Leave the computer microphone unplugged until you need it. Put tape over the camera till you need it. Otherwise it is collecting data on you.
Money Squid - excellent description.
I just want to add one thing.
to build an ever more detailed profile about you
I completely agree with this, but it's only part of the story.
Digitized observations of everyone feed aggregation engines. This amounts to feedback, very valuable feedback on how the manipulation is going for example. This "window" into the various aspect of the sheeples and peoples minds improves their ability to maintain control and keep the ponzi-.gov going.
Example;
Politico: "Hey let's grab the guns. It's time." or Politico: "Hey let's bomb Iran. It's time."
Techno-wonk-crystal-ball: "No will robbinson. Danger! Danger!"
Alternatively -
Politico: "Hey let's open the borders. It's time." - Politico: "Hey let's do some taper talk. It's time."
Techno-wonk-crystal-ball: "M-ya, Ok."
And so with this new ability to aggregate the zeitgeist in a way never possible before. They're able to adjust the leash w/o letting go.
And don't use google. Try startpage.com
was utubing around looking at buffets in las vegas
later was looking at room prices in vegas
the flamingo offered me room for 4 nights
with 2 free buffet passes [good any where]...
168.$ total cost ..pre christmas week
fits my itinerary for east coast holidays..
can't beat the price...
the spy system works..
Those gold shorts are having their balls squeezed today.
I might shed a tear for them if I hadn't loaded up on gold last week. Hah!
Gold, bitchez! (Despite Jim Sinclair and the other pumpers.)
What did Jim Sinclair say that would put him in the pumper camp, just the opposite
"The bottoms in".... about ten times.
Man, what I'd give to see a spot price chart overlaid on that one. Tyler....... please. It would confirm or put to rest my theory of collusion between the major players on the Crimex.
GOLD IS CRASHING AS WE SPEAK! Oh wait it's going up...that's unusual.
What is this green on my kitco app? I am not used to seeing it.
I thought I needed to download new video drivers.
double digits green no less!!! its like hooking up with sisters!!!!! youre normally happy to score with just one, and then bam!! in walks the second!!!
Arsonist Ben lights the match, release the cracken.
That was funny :-)
Ha... Look out below assholes, you're about to get your faces ripped off.
Fuck them. Gold should cross $1300 today. And silver $20.
USA has debt and unfunded liabilities of $141.7 trillion and they rise at over $8 trillion a year. Bernanke can never stop printing.
You're telling me that they can't continue to deal with the unfunded liabilities with accounting gimmicks forever? OH MY GOD *runs off to vomit*
Boy, have you got it straight. Few people understand what those unfounded liabilities actually mean. First thing is, they include future growth in both receipts investment returns and claims. So there might even be too much optism in that. Second, these unfunded amounts slowly move to ACTUAL liabilities that will bear an interest cost barring a rise in tax revenues to pay them. Every bonehead on tv keeps talking about debt to GDP as some type of meaningful metric. They should be paying attention instead to debt to revenue (aka tax receipts) to see the problem. I have yet to see one single projection that can prevent a total collapse of our budget in the next 30 years, when about 50 trillion of the total 141 trillion of those unfunded liabilities hit the balance sheet, that can be sold to the American public without extreme social unrest. They will never get it done without cutting benefits huge or taxing people to death. Only solution: that would be the deval of currency. And that, you gold haters, is why you should own some.
Guess Bernanke's line.
The richness of the farce never ceases to amaze.
Errrrrr....there's something about that chart...that is...well, I cannot quite put my finger on it.
I tried to get some gold shorts before and couldn't find any so I just settled for teeth.
Getchuself onea dem gold shirts from New Dehli, dude.
Good lookin' guy like you witch yo' one big eye, sheeeit, Doc, there be women all obah de plaz just a waitin to be crawlin' on you, my man.
Damn....
....................Crush the Bastards ..........
"Crush your enemies, see them driven before you, and to hear the lamentation of gold shorts!"
Tradition!
Cue the deer Tyler...
Mmmmm venison...
To quote Alan Shepard:
"Roger, liftoff, and the clock has started"
You mean "we're" going to the moon again? This time for "real?"
take your protein pills and put your helmet on....
commencing countdown engines on...
Is it Sandy Vagina week? -2 on David Bowie?
Fuck.
They were certain that everyone on the same side of the boat was a fantastic idea this time. They just needed more people.
Man they are getting a-raped at the moment. I guess they didn't expect the trap to spring in the middle of the night. Almost to 1290 now.
Of course not. After a decade of overnight longs in profit in gold with intra-day (North America) being less so (and not at all if strictly intra-day, as shown many times on zh, prime interest, capital account), who'd a thunk it would happen this time.
For the -1 sandy vagina: http://www.skoptionstrading.com/storage/short%20intraday%20long%20overni...
Japan is up next and then next in a month or so it will be back to the UK and Europe and then by Jackson hole it will be the US turn again to debase their currency. This will go on for years.
I have a feeling gold will come back down and the stock market will be red by tomorrow close.
Ah hell we've come this far, why not..but the last 3 hours feels great!
At this point nothing would surprise me, even that.
It's becoming more and more obvious that the Fed's verbal vomit is a handy tool for setting up the markets for nice profitable trades for the squid and the morgue.
when the 'markets' are safely into new high territory, were gonna see the metals get beat up some more i fear
Good chance of it...
Do what needs to be done.
"Execute order 66!"
Price of paper gold is moving higher fast. A glitch of The Matrix most likely...
I hope those shorts get screwed today.
A little hockey stick action going on now.
love me some green 1-min candles, 8 in a row
who's heading for the penalty box on high-sticking?
Someone with a red arrow is a little margin'ed I thinks.
When you hit the red arrow, did you remember to adjust your stops too?
Bernanke just killed the DXY trade down over 1.3%, close to capitulate sell at 2%, Asia will buy dips. Massive short squeeze on the AUD and volatility. Stocks...who cares. Gold short squeeze, but could be bull trap. UST market is still on for Sept tapering.
Love that oil price.
Everything you say is believable, except that UST action might not be related to any tapering, it could be a total loss of control...
Looks like there is one bad apple in the currency basket:
USD | EUR | JPY | GBP | CAD | CHF | AUD | NZD
Do you think that the Chinese had announced a slowdown, knowing that woiuld impact gold ands US equities.
This would of course "force" limp dick Bernanke to effectively backtrack on his previous "we might taper soon ". The Chines had alraedy bought below 1200/oz.
The Chinese know that they have the Obama / Bernanke / US banks/ US Media over a barrel. They just tap their asses anytime they want a market move.
Don't know anything about the gold shorts. But the shorts of Smith and Wesson (SWHC) are not feeling too well tonight.
http://finance.yahoo.com/news/smith-wesson-increases-tender-offer-212855...
Up is the new down, bitchez :D
Can't wait for China to release their numbers on their June gold purchase!
Is this going to be like VW shares?
VW * 10.
I predict this rise in $ price of gold will compound with the firesale generated shortages to generate accelerated buying in the physical.
I predict this is gonna hurt a little for all those stupid fucks who thought it was a good idea to chase the short side of this trade. Gee, I wonder what a $30 price bump does to a leveraged short position established at 1220? It will be interesting to see if Shanghai takes charge again tonight.
You go your route to skimming off the spoils of QE. I'm going to siphon off through the educational path. Might have to invest some student loan money into gold but for right now I'm pretty busy getting an education about all the freebees that the FEDs are handing out as they bring this country to its knees.
Gold is still in a bull market. Just no one likes it right now.
If the shorts lose everything they own, on their trade, then let God be their new-found wealth. I pray for thee.
On-ward and up-ward, to $1900 we go.
GOLD BITCHEZ!!!!!!
I up voted myself bitchez!!!!!!!!!
If the gold manipulation is factual, why all the hub bub about Ben B new statement and the increase on gold prices today?
Or is this just a "normal" reaction that will die shortly?
Raphael
Here's an SA article today y'all will like:
http://seekingalpha.com/article/1542652-what-gofo-is-and-why-it-s-now-ve...
Here's an earlier July 2 article by the author that's even better:
Gold: Last Friday Was Likely The Bottom
This gives a pretty good account of GOFO goings-on. Not quite as simple as ZH is making out, and not such good news for goldbugs.
http://ftalphaville.ft.com/2013/07/10/1561322/the-hand-of-gofo-strikes-again/
Summary:
1) The opportunity cost associated with lending cash against gold is rising because rates are rising. For as long as Libor is stuck down this can only be expressed in a higher lease rate, which itself can only be pushed higher by means of a negative GOFO rate, because lease rates = Libor minus GOFO.
2) The cash-for-gold window is firmly closed since cash lenders would theoretically have to pay a punitive negative rate if they wanted to invest their cash in gold collateral. If you need cash and have gold, chances are you will be forced to liquidate instead, unless you can negotiate off market terms.
3) High lease rates are forcing an unwind in previously established cash-for-gold positions, as cash lenders pull money out of the gold market and take it elsewhere. To unwind the position, they’re needing to buyback their shorts and sell their forward hedges, which is backwardating the curve.
4) Despite higher yields, a scarcity of USTs is once again encouraging fails-to-deliver despite the existence of a penalty rate. This is creating a new floor on rates in repo markets (the penalty rate):
The gold forward market is consequently once again being forced to price in a negative cost of money on the forward curve, to compensate for artificially supported rates elsewhere, a function of rising real yields.
5) It’s Libor that should be much lower, if not negative.
Holding gold (or any commodity) rather than cash is now an opportunity cost.
Dude, that is some ridiculous posturing.
1. No.
2. Obviously no.
3. You don't even know what a lease rate is. And you are still wrong.
4. a ruined Treasury market means buy gold.
5. No one is ever going to pay you cash to borrow cash. That is just stupid. LIBOR is a lending rate for cash. Only a central bank would be that stupid and that would be reflected in the rates they pay on excess deposits at the Central Bank, not in LIBOR.
Don't take advice from MSM journalists.