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"Stop Logic" Gold Slam Was So Furious It Shut Down CME Trading Again
It was precisely a month ago when, in "Vicious Gold Slamdown Breaks Gold Market For 20 Seconds" we wrote:
There was a time when, if selling a sizable amount of a security, one tried to get the best execution price and not alert the buyers comprising the bid stack that there is (substantial) volume for sale. Of course, there was and always has been a time when one tried to manipulate prices by slamming the bid until it was fully taken out, usually just before close of trading, an illegal practice known as "banging the close." It appears that when it comes to gold, the former is long gone history, and the latter is perfectly legal. As the two charts below from Nanex demonstrate, overnight just before 3 am Eastern, a block of just 2000 GC gold futures contracts slammed the price of gold, on no news as usual, sending it lower by $10/oz. However, that is not new: such slamdowns happen every day in the gold market, and the CFTC constantly turns a blind eye. What was different about last night's slam however, is that this time whoever was doing the forced, manipulation selling, just happened to also break the market. Indeed: following the hit, the entire gold market was NASDARKed for 20 seconds after a circuit breaker halted trading!
Moments ago it just happened again. As part of the already noted massive gold slamdown just before 9 am Eastern, when "someone" sold an epic 2 million ounces of gold in one trade, the CME just went dark for 10 seconds, blaming it on an appropriately named "stop logic" event.
What is Stop Logic? Basically, it is a the mother of all stop hunts, which takes out the entire bid stack and continues until such time as there is absolutely no liquidity left in the entire market! From the CME:
Stop Logic detects potential market movements caused by the triggering and trading of Stop orders where the resulting price move would extend beyond an exchange specified threshold.
The triggering of Stop orders can potentially exaggerate price movements in temporarily illiquid markets. When triggered Stop orders attempt to move the market to an executing price beyond a pre-established value, a Stop Logic event occurs. Stop Logic detects these situations and responds by placing the identified market in a Reserved state for a predetermined period of time, usually 5 to 10 seconds, depending on the instrument. During the Reserve period, new orders are accepted and an Indicative Opening Price (IOP) is published, but trades do not occur until the Reserve period expires, thereby providing an opportunity for participants to respond to the demand for liquidity. At the end of the Reserve period, the instrument will re-open and matching will resume.
When a futures contract designated as a lead month contract experiences a STOP Logic event, associated options markets are paused and Mass Quotes canceled.
Stop Logic will not prevent markets from ultimately moving in the direction of the order flow, but allows time for liquidity to enter the market so that new orders can be matched against the triggered stop order(s).
Of course, the liquidity we re-enter at a time when the prevailing price has been reset substantially lower on what is basically a "banging the open" type of event, or in this case market open, when one or more traders attempt to generate the well-known "momentum ignition" event so known to HFT algo manipulators everywhere.
The chart below from Nanex show precisely when and how the trading was stopped for 10 seconds in the aftermath of the furious sell trade.
So what is an investor who believes this was manipulative trading to do? Well, nothing. Recall that the ever helpful Bart Chilton already made it clear that commodity (read precious metal) traders are on their own because, as a result of the furlough, the regulator simply incapable of doing anything.
From: Chilton, Bart <BChilton@cftc.gov>
Date: Tue, Oct 1, 2013 at 9:32 AM
Subject: Re: Today's Smackdown
To: XXX@XXX
No regulators looking at markets due to government shut down.
B
NOTE: Ponzimonium: How Scam Artists are Ripping Off America, is now available in a FREE EBOOK edition. Go to the link for your copy and a Government Book Talk interview: http://govbooktalk.gpo.gov/2013/09/03/post-ponzimonium-an-interview-from-the-front-lines/
* * *
From: XXX@XXX
Sent: Tuesday, October 01, 2013 09:16 AM Eastern Standard Time
To: Chilton, Bart
Subject: Today's Smackdown
Commissioner Chilton,
Any comment on this morning's shenanagins in the gold and silver pits? Time to reopen an investigation?
Is credibility important to the CFTC?
Regards,
XXX
Expect market halting gold trading dumps to continue indefinitely, and certainly for the duration of the CFTC's "shutdown", which of course is helpful to those, like China, who continue to convert increasingly more diluted fiat into hard stores of value.
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I always sell my precious assets all at once when there are few buyers around. Preserving capital is so over rated.
If you don't hold it you don't own it.
Sinclair warned about "trading" long long ago.
I send a heartfelt warm fuck-you to Gary Gensler and Bart Chilton!
there is no definitive proof of manipulation my ass!
i do not get the point really ... it only subsidies the buyers at low prices at the expense of Joe Sixpac ....
otherwise all that nonse of gold being a barometer , canary etc. is just nonsense;
anybody who is anybody doenst need a thermometer to see the patient is dying, all you got to do is to look at how much printing is going on and you dont need gold or bonds to tell you that
I smell smoke.. still..
Currency war, plain and simple. ANY USD alternative will be slammed until a change in trade settlement, Petro dollar reserve, or bankruptcy occurs. Seems rather logical.
I need a backiotomy!
http://www.youtube.com/watch?v=8Ebe_6v2YXA
PHYSICAL BITCHES !!!
Why can't the NSA find and stop these terrorists?
First 'stop logic' event was in 1913 and the second was in 1971.
"" Why can't the NSA find and stop these terrorists? ""
... A Job For BATMAN ...
Anyway, it took a sale of 70 tonnes to bring the price down what, 1-2%? Soon they'll need to sell 1,000 tonnes worth of paper gold at a time to keep this charade up
Exactly! Gold prices dropping yet COMEX inventories (http://seekingalpha.com/article/1730402-weekly-comex-gold-inventories-go...) not growing andminers cutting back - someone desperate to get others to sell gold...?
--------------------
If you are fed up with whats happening with the government - it all stems from one major thing: the government's control of our money. We have placed in our government the ability to control the money supply and dish out new money to whomever they please (usually their cronies and the banks) and to spend and create that money in infinite amounts to SUPPRESS we, the People.
To break this system we have to bring back real money and thus limit government control over money and our lives. We can break the system by overwhelming the physical markets and give a no-vote to their control over money - they key is the small silver market.
Join the Silver Pledge - an effort to change the system by having investors join up and buy physical silver - together we can break this market and take back our government.
You can read more here:
http://www.communitysynergy.com/subscribe/silver_pledge_site.html
If you dont like it dont sign up - but for people who are sick of sitting and doing nothing at least lets work together to BREAK this silver market
Hear, hear!
If they can force fiat money upon us, they have all power and your votes have no effect.
It's as inevitable as gravity and thermodynamics that people who can create fiat currency at will must control the society completely. Next time you get pissed off about a politician, try to remember that you have been hypnotized. Watch the people who create the money -- they are the only powers.
State-money is the root of our enslavement.
Strike the root.
Shareholders of gold companies need to revolt against their management and demand that they will no longer abide by the paper prices for delivery of their gold and set their own price. It's a tough, tough business. That would require management of gold companies to get their heads out of their asses, grow a pair, basically wake the fuck up and open their closed eyes to the abusive attacks being waged against them. Basically stand up for their companies and shareholders and say FU to the exchanges that enable and/or are complicit in the paper price manipulation/attacks and they will no longer deliver to the COMEX or any bullion bank. Anyone who wants real physical gold needs to buy directly from the gold company. They need to price independent of the paper gold markets. BUST the COMEX!
the lbma and comex gold and silver markets have become visible frauds for all to see so they are going to be ignored
right now we have distribution of gold to purchasers - and daily silly price action is being ignored
thr fake london and new york gold markets are going to be replaced by moscow, shanghai, singapore where actual gold trading will occur
Why fight it? I want cheap PM's to buy moar.
I could care less the price for 3 1/2 yrs.
@Mick - EXACTLY! Gold/Silver aren't just investments they are a way to take back the system. You give them control of your money and you give them control of everything. I'm buying more to break this system!
That "silver pledge" websie is probably a government front. One million people buying five ounces a month is nothing. I'd wager there is triple that volume bought and sold on ebay in the same time frame, maybe more, possibly much more. It's a huge, active physical market and premiums have been anywhere from 20-40% for months now, since the big whack-down in March or May, I think it was.
Singing up for anything these days that is in opposition to the federal government's main aim to destroy the US and global economy is just plain stupid. When the SHTF, they'll have your name, address, email info, etc. and will be coming for your multiples of five ounces.
Fuck this shit. I have enough silver for now and generally, it's not a good investment, so long as the ponzi and manipulation are allowed to continue. I think a serious crash is coming and all the silver in the world - which will be worth much less than it is today, BTW - isn't going to help anybody. Food. Food. Food.
yup. I can use some silver for medicine, some for electronics but if I'm overburndened by weight I won't be able to run with it & sell it all inneed. With food there's barter & consumption in a more available manner than silver, though for weight I'd have to balance it vs silver for later trade purposes - a difficult guesstimate but necessary to try.
That's why primarily for stored purchasing power in metals I'm with gold. I don't care that silver is fiat exponential relative to gold: what I care about is I can run with a lot of it in purchasing power not nearly as burdened as a box of silver maples.
not exactly.
one shouldn't think so much 'invest' in metals as the exchange of a politically contrived instrument of debt-enslavement for a liberating universal instrument of actual physical value
holding metals should be considered an act of defiance to systemic corruption by pervasive political evil
we don't need to 'take back' what isn't ours, rather reestablish what actually is ours
honest exchange by purity and weight of value for value
we do not have "state" money. we have private federal reserve
notes and "state" treasury bonds as base money in a fractional
reserve system which is privately operated and state
sponsored, the worst of both worlds! the devil is in all
the devilish details and condemning the "state" as the culprit
releases and relieves the guilty private parties from their
actual responsibility. granted, even the individuals are
abstractions and mere legal "persons".
and the forms of enslavement are many and removing one
so identified does not guarantee or even suggest liberation
if you have not correctly identified the problem at the
source.
just saying there is more to it than mere condemnation
in such a sweeping manner if you actually think about it.
watch for the straw man incrimination while the guilty
disappear with all the money! it is control fraud and
become institutional at nearly all levels public and private.
Ah, that's a good point.
I usually think of the Fed -- and their masters -- as the State, since they are the only real power in the Subjugated West.
I think of the State as a two-stage thing: the real powers, and the puppet-show for kiddies. Instead of bread and circuses to keep the masses docile, EBT cards and political campaigns.
I guess step 1 of the liberation is to make as many people as possible see that the political game is a deliberately constructed false polarity: 90% of all people get drawn to one side or the other -- but that's the wrong polarity. Then the Matrix has you.
They have us pointing at each other, when we should be turning our gaze upon our real enemies.
right!
the problem has become extremely complex
yet visible to the naked eye.
(here ignore the heart stopping, mind boggling
horrible and beautiful
idea of digital money)
money must resonate with at least the two
parties involved in transaction. two
entirely? different individuals must share
something concerning the perception of the
value of the instrument in the transaction.
so what is perception? gold? value? language?
time? the state? it is a complex, complex.
.
today,
the state appears as the enforcer of the fraud perpetrated
by the private slave master is the way i think
about it. has been hijacked by the money interest
and financialised in desperation all aspects of life.
the results are dystopic for the vast majority of
living things , not that there are no qualities
derived but one might ask what is the price,
what has been lost or ruined?
the state is supported and created to
protect the rights (in some cases and states) of the individuals
from tyrannic trampling, it is not constructed to
become an instrument of enforcement for greater
tyrants! when it becomes compromised the founding
documents call for revolution, amendment, dissolution
or succession. then a particular state is done with
and invariably a new emerges from the ashes but, what
was it that destroyed the old state of things?
.
the people which, in a republic, are the state!
the state is plural in that it only exists in the
mind/s of a collection of individuals. shared mentality,
language/s, laws, sentiments ..etc. and money, legal tender.
.
if there is to be fiat and fractional reserve money i
think it must be state money or treasury notes and
could exist side by side with private hard asset money
or p.m.. but, private markets would/have leveraged
that to create credit money too/ the derivative market
was a private domain creation on the back of the state
sponsored bond market. now, no one knows what anything is
worth in any market. we know the cost of everything but
the value of nothing (someone said it).
.
so, there are babies and bathwater and we seek
a standard to tell us which is which.
someone said that the standard is, for better or worse,
always gold due to physics, parochial principles and the
marriage of the two. oh, the marriage is gold
itself.
anyway poems *t
#
beyond that you can't see it, hold it,
touch it or eat it, never mind i don'
think you can even smoke it;
the problem with digital money is that it
demands surrender of the human mind,
the individual,
to the machine,
virtually and literally.
the hardware and software offering thru the mind
of god to the highest bidder and then it is gone.
.
a can of philosophical worms
and infinite opportunities,
the power over world altering
creation, recreation and representation
from god to the highest bidder
and then gone.
debt slavery and beyond the
chicken coop/soup, into the fire!
Correct, the financial regime is ruling, not politics.
Good to read a sane voice among all this libertarian BS against the "evil" state behind all this, although the money masters have taken over the state a long time ago. It's a Plutocracy.
Only a strong state can establish the primacy of politics and therefore remove the money masters from power, not a even weaker state with even weaker politicians. How weak should politicians become? Isn't it enough, that they are weaker than the mass media conglomerates? Isn't it enough, that mass media determine what is allowed as free speech? Libertarians want an even weaker state! What sane person can see it as progress, if the money powers and their mass media would have even less to fear?!
If you take away the state, you take away the big escalator with the sign in front of it which says "Free Evil!" which sociopaths use to get to the top. If you want to kill a tree, you must strike the root not the branches. We can't stop sociopathy without revolutionizing parenting, but we can stop incentivizing it and cut down institutions which incubate it and seed hatred, depression, and anger, like the public schools and the welfare state. Within a few generations if we starve it out, the parasite dies.
We do not have state money, this is private bank money!
Private banks create the money by people making loans.
And state money is also not slavery, but INTEREST SLAVERY is slavery.
There can be interest free state money, too.
And without a state you couldn't even go out of the street. An open window in a summernight? Forget it. A judicial system? Not there! Police! Not there!
And last but not least: this is a regime of the money masters, it's a PLUTOCRACY.
The only way to stop this, is a STRONG state and politicians that fight the plutocrats instead of political actors playing roles.
To break the system we have other options than just buying silver. We can stop paying taxes. We can stop buying things from corps. We can stop using big banks. We could just march on and burn DC and NYC and hang all of the criminals, after a fair trial of course.
Go ahead, keep buying silver.
NO, dude your calculation is wrong 1000000 oz * 0.311 (troy oz in kilo) = 311000 Kilo= 311 T
So 2 Mil OZ = 622T roughly 10x your guess :) So Yearly Gold supply is 2690, Somebody
Just dump 1/4 of total yearly GOLD supply and Price went down $20 :))) Keep dumping, Crooks.
It's 32.1 toz per kilogram, so 2000000 / 32.1 ~= 62,000 kg == 62 mt.
Why don't they slam oil at 3:00 am in thin volume.... maybe give us niggas in the streets a break on our gas bill?
Yeah, so those dumbfucks can drive the gas gulping SUV's even more. Actually not a bad idea, might bring this bitch down a little sooner?
At least we know things get cheaper as gas goes down right?
Well?
Burning fossil fuels is better than burning trees at least. If we lived like that, the earth could only support about 1/10th the current population.
Dont forget Nov 22, 1963.
.
may be you are correct, it stares you on plain view ....
actually i have been watching the change in price and it corresponds to certain level of the euro exchange to the dollar ... i always thought was not about gold but about the exchange dollar and euro and perhaps other currencies.
that would explain, the hedge funds on foregin exchange being carried out in stretchers ...
EURUSD went from about 1.3565 to 1.3560 when gold was slammed down at 8:40am this morning.
Is that what you are basing your assertion on?
no, on observation over months. fex. the line for gold seemed to have been around $1330 and 1000 Euros. even if gold went higher in dollars (1360, 1370) the exchange rate would change so always gold was under 1000 in Euros. The 1000 euros seemed to have been a more important level
My most basic indicators are the price of corn, corn in relation to silver, and the combined new highs-new lows on the NYSE and NASDAQ. Lately, despite yesterday's completely contrived equity rally, they'll all been bearish, and deflationary.
This is the Fed's conundrum and why they must continue to print and not taper. They cannot stop deflation. Tried for five years and can't do it. Forget about the price of gas and food. Look at housing, basic, low-end housing. Still down in many areas of the country. Sure, it's up according to the "official" statistics, but it is going to go lower, because stuffing the 1% with all the money doesn't stop deflation for the 99%.
Since price discovery is all but destroyed in just about every commodity and sector, you have to improvise. I've seen significant sales on canned goods, poultry and, of all things, coffee, recently. Food continues to be super cheap, also somewhat dependent on what you buy and where you live, but the deflationary spiral cannot be stopped and it all ties together with the government shutdown and debt ceiling fiasco. They're fucked and they know it. They just don't know how to get out of it. After five years of trying in vain, that, at least, should be obvious.
Corn, for what it's worth, was what Adam Smith used as a basic guideline for everything, real price, nominal price, money price, discounted presnt value, etc..
Clearly you do not pay any utility bills or do your own grocery shopping, or you would realize that your so-called "deflationary spiral" is just a figment of your fevered imagination.
No fiat currency system in history has ever died in deflation --- they ALL died via currency collapse and/or hyperinflation. The notion that the printable-at-will fiat currency of a bankrupt nation will suddenly begin to radically APPRECIATE in value is both historically ignorant and utterly laughable.
That might be true if not for the fact that these fiat currencies are debt based now. Every time someone takes a loan, 90% of that is used as assets for a bank to make another loan to someone else, and so on and so forth. If all the debts start to default, or people start paying them off, the monetary base suddenly shrinks. They're trying to expand the monetary base incase that sort of thing happens, probably because they expect it to, or perhaps because they think they can turn the sentiment by driving the markets up with these new dollars. Unfortunately, every further dollar they create is having less and less of the sort of manipulatory effect they desire. If they print too rapidly they destroy the currency; if they print too slowly the credit markets seize up and it all turns to shit. They're trapped between a rock and a hard place.
When have fiat currencies ever NOT been debt-based, whether explicitly or implicitly? And PLEASE don't give me any of that Bill Still swill about the supposed beauty of Lincoln's greenbacks --- ALL fiat currency fundamentally represents an inherent theft from the population at large.
if you can't stop those manipulators in the "market", you can stop them in real world, e.g. shot them dead, burn their building, rally, revolution, etc...
If an entity held 1 or 2 trillion of US debt, and the sUS is printed and extra 1 or 2 trillion a year, and getting no growth, at what point do said entity take losses?
Bart has been impotent (in more ways than one) from the get-go.
..stand and deliver (in more ways than one).
Bart should write a book.
It would go something like this:
smoked muppets I suspect.
" do not get the point really ... it only subsidies the buyers at low prices at the expense of Joe Sixpac"
That is the whole point, precisely. The deal is that China keeps holding T-bills, but in return the Fed makes gold cheap for PBoC and SAFE to buy, in preparation for the next monetary system which involves gold to some extent.
The Fed "wins" by making Gold look less desirable than the dollar, and keeping the petrodollar game going, until all the Central Bankers agree on the next system. SDRs, maybe?
Remember when Warren "Wells Notice" Buffett was moving to corner the Silver market, and how quickly TPTB put a stop to that? There is no way that the present-day drain of gold, flowing to Asia, runs counter the the Fed's plan. All this is orchestrated and approved by the Fed, to bribe China.
dup
Perhaps Joe Sixpac is the whole point.
The Chinese and Indians aren't fooled - - - not at the national leadership level and not at the level of the people on the street. They buy gold. And they dwarf the American market in participation.
Perhaps the whole point is to keep Joe Sixpac dumb and in the dark - while the 24/7 spy and police state apparatus is constructed around them. If gold were blasting off to $ 2000, $3000, or even more an ounce . . . even Joe Sixpac might get his lazy butt off the couch and take notice. Though mind crippled by t.v. and public 'schooling', even he might ask "WTF is going on ?"
Understand gold and you understand money and you understand the nature of fiat fake paper 'money'.
They cannot let that happen.
Goldman it was then!
China imported +1000 tons of gold in the first 8 months of 2013.
http://koosjansen.blogspot.nl/2013/10/economic-power-shift-to-china.html
But I thought I read Bart 'is one of the good guys' ?
Yeah . . . . right. He's been on the govt tit for 30 years.
Bart has always been a stage act. I'm astonished at how many suckers still buy into it. Jesus Fucking Christ.
Bart is the distraction for the muppets. Gensler - ex-Goldman, CFTC chair and therefore a member of the PPT - is the Oligarchs' safe pair of hands.
But hey, lets pretend that Brooksley Born's gutting didn't happen and the CFTC serves the muppets. I need more delusion and insanity in my life, honest.
I'm not aiming that at you, HA. Just ranting.
I know what you mean. I used to subscribe to a PM newletter by a very knowledgeable and well meaning guy, but he'd go on about how Bart would 'come to the rescue'. This was several years ago and I dumped my subsription because of this. I knew the writer was engaged in hopeful, wishful thinking. Any of them that high up on the ladder have been throughly checked out with a fine tooth comb. Like the fake demo vs repub game, its a diversion and an illusion. Theyre basically vampires that suck off the rest of the people.
Heh, that wouldn't be Ted "Charlie Brown" Butler, would it? Lucy/Chilton keeps taking away the football, but Charlie keeps coming back to the same scam. We love you Charlie Brown - Ted - we love your innocence, but you're such a fucking chump.
It's cute when you're six years old. But it's pathetic when you're an adult.
Ted's a good guy. And, IMO his focus on the opportunities in the relatively small silver market is a very beneficial thing. But, (at least a few years ago), his trust in those in these institutions - including Chilton - was unwise. I don't know if he's changed his thinking over the last few years.
But perhaps many of us who have thought there would be a time when the PMs and mining company stocks would take off, are guilty of the same kind of thinking. We thought 'the market' would finally sort things out. Maybe things are so bad economically and so corrupt that they will never let real market pricing take place. Instead, the whole thing will come crashing down first.
but I strongly support Bart Chilton - to revive the Seagulls!
We need a whistleblower like Ed Snowden to spill the beans on all this PM manipulation. When is this bullshit ever going to stop ?
You nailed it. Just think: the secrets behind this are held more tightly than NSA's and CIA's law-breaking. That's a sign that this shit is more important than anything that happens at Langley or Fort Meade.
There have been whistleblowers including Andrew Maguire who told them what they do and how, and predicted how they would move the markets before it did what he said it would do. He testified before the CFTC . . . and nothing came of it.
The Fix is In.
Whistle blowers with evidence would be ideal. But even getting popular websites like Drudge Report to post headlines on these smack downs would be huge. Anyone remember the last time Drudge ran news of a major Gold smack down on it's main banner? Yep that lasted a few hours until news of the Boston bombing broke. ANOTHER coincidence. Major PM take-downs usually coincide with major terror related events. OBL death announcement, etc. Someone should put together a timeline of these from the past 6 years.
"no definitive proof of manipulation my ass!"
If a tree falls in the forest...........
I think most people know it's likely the Exchange Stabilization Fund controlled by the Treasury and the President doing this. The CME isn't allowed to reveal that. They would be fired or worse if they did.
only 20 bucks? in the old days they could get 200 for that volume ... few more zeros ...
China is on line 21214......somebody get that.......the phone rollover doesn't go that high.
i wish they would just bring it down to 400-500 an ounce all at once to scare the piss out of everyone. this way i can convert all my fiat at one time and be done with it. i would have a lot more free time to enjoy with my kids without having to watch this nonsense and waiting for days like today to do some converting.
thank god gold is the most common metal in the world!
It's actually become the most common paper in the world.
Well, we have to conserve all that precious tungsten.
General Jack Ripper would agree.
Just think of how many accidents are going to happen when they start building boats out of dirt-cheap gold.
Lagarde's Hermes scarf got caught in the sell button at the IMF. Pay no attention.
pro'lly an old souvenir present from little Nicky Sarko - she's eavesdropping on the G20 whilst the G20 is eavesdropping on the IMF. In other words, the Fed is holding court in two palaces.
I'm looking for a FUBM event here, as people like CD and me will decide to BTFD rather than BTFATH.
Buy lead,"they" control gold.With all the fake fiat printing,"they "can do what they want to gold.Lead ,will be worth just as much and is easier to get.
The Lie will Die,,,,,and when it does we all know gold will go stellar,"they" know it to....
BUy Lead!
Peter Schiff is covering this on his radio show now. He plugged ZH twice.
With all the bullshitters and rank amateurs crowing an d calling about gold, Schiff. Was. Right.
gotta give the big players a fair warning. must be nice controlling a rigged table.
This afternoon (I am in Germany right now) I started to place an order for some silver bars...then I thought to myself, "Wait, there will be a price slam in a few hours and then I can get an extra few ounces".
This is as easy as "buying the dip".
What/Who are these clown-shoes and how do they manage to do this every week without being investigated by some Federal agency?
(SARC)
Gold bitchez!
WTF!?!
I am not buying Gold today. Instead, I am going to buy Rosetta Stone Chinese for all of my family. I figure it will be a good idea to learn our new language.
Go East young man!
I've been trying to sell my kids on looking at Asia as a landing spot once they get out of school.
I came here nearly 30 years ago, no regrets
Better to go to the shooting range and learn BOOMese.
What if a specific language didn't matter?
And I would put short term sights on Spanish. It's very pretty, and like French, it's got some awesome swear words.
Me cago en su puta madre... for a start
It reads and sounds like a poem until it's translated.
They are shutting down the LMBA gold leasing.No more earnings from holding gold,so sell,sell.
http://armstrongeconomics.com/2013/09/29/gold-lending-could-stop-in-london/
If you read that article, Armstrong is muddling several topics into one and leaving out others to confuse rubes. You have to understand the terminology to not get fooled. He does that alot.
They didn't say they were stopping forwards.
If the stop forwards, futures still exist on other exchanges.
GOFO is no more an indication of lending activity than LIBOR is an indication of lending activity. It is a published rate and they just want to hide it. Stopping an offical GOFO does not mean stopping forwards or lending. They already stopped publishing SIFO. Silver still trades.
GOFO is a lending rate and the religious people he discusses would not have used it to lend gold for interest based on his own terms. He purposely confuses selling forward with a lending to dealers process.
Armstrong is a great con man.
What, you mean that Armstrong, the uncredited inventor of Artificial Intelligence and Margaret Thatcher's secret boytoy, may be...A PHONY???
All those pen-drawn rhythmic wave charts tying together Stonehenge, Easter Island, the Battle of Hastings, Nixon, marines in Grenada, and the gold price might be gobbledygook?
That he can't seem to progress past Singer-typewriter-style fonts in 2013?
Armsrtong must have got his mind bent pretty severely at Fort Dix. On the other hand he's been predicting $500 gold for years and still is.
The point is "if gold can no longer be used in this manner,there will be liquidation of gold holdings by those who still use it to park money and earn unofficial interset for religious reasons"
Whom is Armstrong trying to con?
>> Armstrong is a great con man.
Hey, it's keeping him out of prison.
buyer at 1200, 1100 and 1000
BRING IT ON BITCHEZ!!!
Come on, baby, all the way to $900-$1000. Daddy wants a new pair of Buffalo.
me too.
Paper Gold. They should write a song about it.
'Paper Gold' sung to tune of Purple Haze
Paper gold
All in my brain
Lately things
Just don't seem the same
Market's funny, but I don't know why
'Scuse me while I 'kiss this guy'
Paper gold
All around
Don't know
If it's goin' up or down
Makin' money, or fantasy?
Whatever it is, there's definately a smell on thee
Help me
Help me
(Oh, no!)
Paper gold
All in my eyes
Don't know
If it's day or night
You've got me buyin', buyin' the dip
BTFD will end this shit
Edgar Winter Group did that already; it's called Free Ride
banksta style
Just wait until the Carbon Credit exahanges start using HFT to maintain 'liquidity.'
The world as a whole is pretty screwed.
they are so predictable ... Maddoff should have a statue in central park
Every time I see/hear 'Maddoff', I think, "My, is he appropriately named!"
They will never give Madoff a statue, because government hates the competition. What do you think all those government agents did to earn their respective statues all across the globe?
So people are buying Treasuries as safehavens against themselves and selling gold? Logic in that?
Yeh I bought those 2 million oz, and Im taking delivery.
Which they will gladly deliver.. next Tuesday.
2000 contracts times 100oz per contract = 200,000 oz
NOT 2 million
Read the article hero.
I read ya but the numbers are not clear.
If 800,000 ounces of notional gold into the London Fix was sold that's 8000 contracts on the dump.
Moreover, 2 million ounces =20,000 contracts but look at the volume chart?
Sir Evelyn Rothschild...is that you?
When the cat's away, the mice wil play.
This is why we need to get the government open again!!! Bart Chilton isn't on the job!!!!!!!!
Vigilantism will be making a comeback soon. When the government abandons Justice, she will find others to take up the sword and scale.
"She" won't have to look very far.
This would have NEVER happened under Bart's watch!!!! I hope he's getting a haircut that little Euro faggot.
I'm sure when he gets back they'll investigate it for 20 years....and then go do something else I would imagine.
Yes Bart will earn his pay. He is a workhorse, tirelessly sacrificing for the little guy. Thank you Bart, and we love your new doo.
And so gold mines around the world go into mothballs..... supply of new metal stops...except from Chinese mines to the Chinese govt.
Likewise ..even more so silver.
So how tight are they winding this spring.....how many billions of oz they going to have to sell to keep the price down....
It depends on how fast they can cut trees down and make paper to print the gold on. Who needs gold mines? That's old fashined. Gold is printed on paper, everyone knows that.
Paper is so obsolete. It's all just numbers in an Excel Spreadsheet now.
So how tight are they winding this spring.....how many billions of oz they going to have to sell to keep the price down....
LOL, they are not selling 1oz. of Phyzz,it's all paper BS.
To : XXX @ XXX
From: Bart Chilton
F-U ......CFTC doesn't have any credibility to LOSE !
LET'S JUST GIVE IT ALL TO THE CHINESE FOR FREE!!!
people just don't realize that our governments ARE SELLING EVERY HOPE FOR A NEW FUTURE!!!
Who says that only the Chinese are buying physical?
No the US gov owes $1.2 Trillion to China. They are now delivering gold against that debt. In return China has agreed to hold off crashing our financial system by dumping large amounts of UST on the open market.
BTW - there is evidence (read Yamashita's Gold) that the Fed in conjunction with the CIA bought many more tons of gold from China years ago in exchange for Federal Reserve issued paper that China is now asking payment for. The dragon has awoken and is fighting for its seat at the table. As they would say in medeival times "Above the Salt".
Save us Bart!!! We're all counting on you to police the markets. We know you're on our side. Where are you Bart? Everyone send bart some Prell shampoo. QUICK!!
Save us Obe-Bart Kenobe. You're our only hope. <face-palm> <swig of 100-proof liquor>
It doesn't matter whether the CTFC is open or shut....this shit is the new normal.
The strangest asset in the world...the more in demand and more scarce it is the cheaper it gets...
Was this a paper or actual PM sale? And why? Simple profit or is there an underlying motive?
ummmmmmmmmmm, where have YOU been the past 6 years? It;'s called SAVING THE DOLLAR. Profit??? The govt. doesn't care about "profit" it's P O W E R that they care about. And killing as many people as possible. If they could produce real gold out of paper they would use it to beat people over the head with and kill them.
wait, wait!
The government's ... NOT here to help us?
whocouldaknowed!!
The Rigg-ulators are on the job again.
Why don't they stop fooling around and just 'price' gold and silver at Zero and get it over with ?
We will likely never see a true price quoted for PMs in the USA under the current system of rule.
Who gives a f**k what they quote ?
New Austrian School economist Antal Fekete writes that we'll never see the true price of gold quoted, that is we'll never see the high four figure + numbers others have mentioned. The gold futures market will crash before then and no one will give up real PMs for worthless fiat toilet paper at that time. So, you definitely want to have some.
Maybe Fekete is right.
So are these corrupt banks just buying and selling backward and forwards between each other....whence they can take the price to zero if they wanted at no risk.
Is POMO kicking in now? Nice little ramp in the DOW. Who wudda thunk it??
Cheap phyisical PM. Thx jpm/fed.
ps: please highlite you're talking about fiat paper gold slamdown,..eh!
It's the Criminals Marketplace Exchange [CME], where instead of brokers and their bagmen at the ready [from back in the day of open outcry], we now have electronic "glitches", where fools and their stops get filled at the bottom without ever seeing the tick on their screens. Same story, different dynamic; move along sheeple no story here.
http://vegasxau.blogspot.com
If China and other countries continue to buy gold the crisis will spike even more as more and more fiat currency is destroed in the process.
I have to assume that all the rest of the sovereign nations around the globe are witnessing this and are or should be panicking to get there hands on as much gold as possible before the dollar collapses. These manipulations are glaring signals that the fed is thrashing in the water and only moments away from drowning.
Hopefully gold will be cheap enough soon that I can pave my driveway with it. Maybe by next week.
Who are the stupids that buy all this ponzi gold?
So all that lease gold has to be 'given' back....buy buy buy
Com'on Tyler tell us we're talking about fiat PAPER gold,...eh!
He seems to be calling it "notional gold" at this juncture. I call it naked paper...
I call it Toilet Paper That Burns or TPTB.
I have only one request of our new Asian overlords when they eventually take over - find, prosecute and publicly punish, in your uniquely vicious and publicly humilitating ways, the vile, traitorous perpatrators of these crimes, and all those with full knowledge of what's being done who stood by silently and let it happen.