Furloughed Government Workers Selling Gold, Silver?

Tyler Durden's picture

While gold prices remain above their pre-Un-Taper levels, they have been monkey-hammered once again this morning as the world awakes to a US Government shutdown for the first time in 17 years. Silver has retraced all its post-Un-Taper gains and is holding at those lows. It seems the department of precious metals selling has been deemed essential... or are the furloughed government workers all selling their gold?



Of course, for the conspiracy fact crowd, this makes perfect sense. On a day when the foundation of the USA is shown for its farcical reality, what better signal to the world is there than a US equity capital market rally and barbarous relic selloff to signal the status quo is as strong as ever?

and sure enough, it's getting worse...

It seems  - given the weakness across all commodities that a deflationary impluse is being priced in...

Charts: Bloomberg

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slaughterer's picture

Dollar dropping, PMs dropping: MAKES PERFECT SENSE!  LOL.

ziggy59's picture

Dollar up, PMs down..Dollar down, PMs down... Yes there is a direct correlation there somewhere...somewhere over the rainbow...

Looney's picture

This whole Shutdown.gov reminds me of a bad guest who keeps saying Goodbye, Good Night, Goodbye, Good Night and NEVER LEAVES!!!


P.S. Can’t wait for the DEFAULT.GOV

Max Hunter's picture

US and China keeping Gold and Silver prices down so China can fill their vaults. US treasuries live to see another day.   A macro long term view; US citizens giving up gold for plastic shit from China.. Nice.. Our children will admire us and our strong will.

GetZeeGold's picture



That's America......always thinking about the future.

GetZeeGold's picture



Yeah....that's pretty normal.

EnslavethechildrenforBen's picture

Chinese are bribe American politician to counterfeit GLD shares backed by paper. American politician like small Chinese penis.

HoofHearted's picture

I'm guessing it means that Bart "Hulk" Chilton has been furloughed and that the SEC is having to watch porn on its own time. Great, now the IBs and hedge funds can cheat. We'll see how badly we need the government when the EXACT DAMN SAME thing happens without them as happened with them. 

synergize's picture


After all it only costs more money to mine gold with total all-in costs (http://seekingalpha.com/article/1543782-the-true-all-in-cost-to-mine-gold-complete-2013-first-quarter-figures) than it does to sell it on the market - that means SELL!

And the COMEX just lost 3% of its total gold last week ... in ONE DAY!


Traders ... LOL!

malikai's picture

Linear thinkers are food in our nonlinear world.

The move should be a surprise to no-one. It's been viewable for free for several days yet again.


AllThatGlitters's picture

Oh goody, another dip to buy. Don't need to no funky charts to see the consolidation and continuation move.

Standard spot price chart does it:

Live Spot Gold: http://www.pmbull.com/gold-price/

Live Spot Silver: http://www.pmbull.com/silver-price/ 


EnslavethechildrenforBen's picture

The title of this article should read GLD and SLV, not Gold and Silver.

BaBaBouy's picture

Manipulation CENTRAL.


O Blama Unbullish For GOLD ???

GetZeeGold's picture



Everyone had to sell their gold to afford the wickedly expensive cheap healthcare....didn't see that coming.

Zero Point's picture

Maybe already happening? A disturbance in the force, even beyond normal parameters.

Fuck me.... And so it begins.

ForWhomTheTollBuilds's picture

Not only that, it won't even be a "default" since most paper gold holders have certificates that specify paper settlement is an option.


As evil as TPTB are, you gotta admire them on some level.  They are only doing what they said they would do.

Sudden Debt's picture

Yes but never the less it now UP TO PUTIN TO WIN THE NOBEL PRICE OF PEACE!!



Putin nominated for nobel price of peace! Ex KGB CCCP!

LawsofPhysics's picture

"US and China keeping Gold and Silver prices down so central banks can fill their vaults" - Fixed.  The U.S. and China have been on the same page for 40+ years.  The plan is simple, the sheeple in both contries will work for the "elite" at chinese wages.  Wake the fuck up.

Max Hunter's picture

Well.. I can't be sure the CB's are not all getting gold. But the US citizens are selling their gold in shops that pop up like Xmas kiosks at the mall.. This gold is being melted and sent to Asia.. That's my guess.. and it's not changing..  Wake up!

LawsofPhysics's picture

Nixon made a deal with China a long time ago, even before he destroyed the final link between the dollar and anything real.

No one I know is selling any of their gold.  Sucks to be in your neighborhood I guess.

CaptainObvious's picture

Really?  I see "we buy gold" signs all over the place, from those cheesy "Cash 4 Gold" mall kiosks to the corner jeweler, and the funny thing is, nobody is ever there selling their gold. 

fonzannoon's picture

The "we buy gold places" by me are all starting to shut down. I find that very interesting.

Max Hunter's picture

could be the weak hands are running out. I haven't noticed the decline yet.. will be interesting

Jack Napier's picture

Weak hands won't be around much longer. Once the COMEX runs out of metal they won't have an avenue anyway.

Until then strong hands be rewarded for accumulating at cost of production.

Stuart's picture

The paper gold market especially is a rigged market.   If one does not know that by now, they're a fool.  It has official govt intervention to manage prices.    Gold companies need to ignore paper market, force a complete bifucation and sell directly at prices that are more reflective of the value of the real stuff.  If you want my gold it's $100s higher than the BS paper scam market.

chdwlch1's picture

Yes, that plan would make sense for the gold companies if their goal is to maximize profit. It's always been my contention that the same folks who are shareholders in the Central Banks of the World are also owners of the major gold/silver miners. Afterall, with unlimited resources available to them, why would they leave this direct selling loophole unaddressed? It's easier/safer for them to just buy and control the miners and close the loophole threat.

Just one man's opinion...

Dan The Man's picture

Its all a bit monty python-ish

PP's picture

Maybe some rally gathered to Wall Street and physical burn these crooks/manipulators and their building can only stop these kind of monkey hammer.

Terrorist attack? No need terrorist, there are enough outraged investors.



astoriajoe's picture

If shareholders do the burning, no problem right? its like burning your own barn down because you want to build something else in its place.

So maybe the cops will have to check monthly statements and confirms to determine eligibility.

astroloungers's picture

Everyone has completely missed it......conspiracy theory 101. We are happily giving our gold to the Chinese for paper and plastic. The Anunaki are coming back and boy are they pissed. They love gold and they want it all. The reptoids will take all the gold, enjoy a Mandarin meal and will not even give us a second look, no stomach for paper or plastic. As you can see,the transfer of the gold to China must be done quickly and completely.....a matter of national security.

Max Hunter's picture

I don't know about all that.. Just trying to put together what I see when I leave my house.

Jack Napier's picture

If the Annunaki exist why haven't we found any skeletons of them? Sure there are mountain ranges that were leveled off in Peru thousands of years ago. Sure the Cydonia ruins date back about 17,000 years. It's still a leap of faith to believe in reptilian overlords. True or not, only those who are slaves now will be slaves to any would be invaders. Freedom cannot be taken, only given away. Human life can be taken, but eternal life is a gift none confined to this plane can interfere with.

Born once, die twice.
Born twice, die once.

EnslavethechildrenforBen's picture

JPMorgan does not bother to counterfeit GLD shares any more, now they just transfer them electronically.

Nothing to see here...

Looney's picture

... Holy Fuck!


I am listening, my child!



Holy Fuck


LetThemEatRand's picture

Nice to meet you finally.  Incidentally, sorry I take your name in vain 100+ times a day.

Jaspergers's picture

1250 here we come, lets get this over with!

The.Harmless.Who's picture

OK, 1250... but then what? 


I'm a believer in gold, but this is really testing! 

TeamDepends's picture

“Never give in. Never give in. Never, never, never, never—in nothing, great or small, large or petty—never give in, except to convictions of honour and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy.”
  Winston Churchill

LawsofPhysics's picture

Wake me when you can take delivery for under $300 an ounce.  That's the last time I bought physical gold.  Meh.

Sweet Chicken's picture

"Great kid, don't get cocky!" - Han Solo

LawsofPhysics's picture

All these folks talking about the "price" of things.  Please, we haven't had any true price discovery in 30+ years and all the corporates are still using "mark to fantasy" accounting.

HoofHearted's picture

As one of my students graduated to go off and earn his PhD, he asked me the simple question of what is the most important thing for him to know in the world of finance. After thinking for a minute, I had only one suggestion, "Know the difference between price and value." So we still keep in correspondence, and he is stacking gold and silver, firearms and bas metals, just like the old prof.

CaptainObvious's picture

Very true.   I have long seen a disconnect between the value of paper GLD and the asking price of actual gold at the coin dealer.  My coin dealer can't keep gold coins in stock, and he's not asking bargain basement prices.  An ounce of the shiny stuff is running about $1500-$1600 at his shop. The coins sporting "USA" generally run at the top of the price range.  Would somebody please tell me why gold is worth more if it has "USA" stamped on it? 

AllThatGlitters's picture

Because no tax forms are filled out when it is sold?

RaceToTheBottom's picture

What was his PHD in?  That tells a lot about a person.