This page has been archived and commenting is disabled.
Gold & Silver Sold As Benoit Gilson Gets Back To Work
What goes up (and tests $1,280 overnight)... must not be allowed to go up for the sake of the children of the status quo. It would appear the BIS' Benoit Gilson took over the reins from Michel Charoze this morning and the precious metal pilfering has begun. Why not? What else would you do faced with an Emerging Market FX crisis, various nations in mass upheaval, China's liquidity crisis front-and-center, and growth hopes around the developed and emerging world collapsing... buy US stocks and sell gold...
The BIS head of FX and Gold trading is hard at work
- 15354 reads
- Printer-friendly version
- Send to friend
- advertisements -




This is nothing more than another FED fart.
Thank goodness. I had another round of shopping to do.
Yawn
This is not gold and silver. Gold and silver are elemental money. There are no markets on Earth for gold and silver.
Cue weird outer space music
Instead of going along with this "gold and silver are manipulated" BS why not grow some balls and stand up and say there are no gold and silver markets? As Mr. Willie said, if you aren't selling a Mercedes, you don't get to determine the price of a Mercedes for sale. If you're not going to demand that your boss pay you in gold, ifyou're not going to ask the coffee shop you go to to accept your silver dime, it is the least you can do.
Well Mister Multi Level marketeer...
You are correct that I an not selling Mercedes. That is such a Red Herring Argument that I would not have even bothered responding. But your post demonstrates such profound ignorance that I felt compelled to STOP YOUR DISSEMINATION OF MISINFORMATION.
First Point...MARKETS AND HOW PRICES MANIFEST.
There are two parties who transact in the setting of a price for that Mercedes, or, anything for that matter. There is the Seller who is asking a price. Then there is the BUYER who is bidding a price.
If there is an AGREEMENT IN PRICE by both Seller and Buyer then a transaction, a sale, happens. Markets are where TRANSACTIONS happen. A Market is a collection of transactions between willing sellers and willing buyers acting voluntarily without coercion.
This concept is covered in High School Economics. Are you that fucking ignorant to not understand that it takes two parties to meet in agreement so that a transaction happen?
I am involved in Physical Gold and Physical Silver MARKETS as I purchase, and rarely sell, Gold and Silver. Obviously those PHYSICAL METAL Markets exist. If they did not exist then I would not own any Gold or Silver.
I am certain that Jim Willie's statement was taken way out of context. In fact I am tempted to email him YOUR STATEMENTS and a link to this dialouge. I am certain that he will find it as entertaing as I do. He is fun to trade emails with.
SECOND POINT...USING PRECIOUS METALS IN REAL MARKETS
As for asking the Coffee Shop to accept a US Silver Dime as a tender for a cup of coffee...Coffee is not that inexpensive these days. Actually it takes a Silver Quarter to purchase a decent Caffe Latte. Yet I am NOT a Coffee Drinker. I prefer my Caffiene Buzz from Soft Drinks. But setting that aside...
I have gone into the Sandwich Shoppe in my local neighborhood and have tendered a Silver Quarter...for a Sandwich. They accepted that as a Tender and I enjoyed a Roast Beef and Swiss Cheese on Rye. I did that as a NOVELTy. The Store accepted my tender as a NOVELTY. They rang up a Twenty Five Cent Sale on the Cash Register. (I am sure that the California State Board of Equalization did not appreciate that their revenues were reduced because it is based upon a PERCENTAGE OF SALES REVENUES. In fact if everybody did that we can starve their REVENUES as that US Silver Quarter is LEGAL US MONEY.)
However for most transactions I will continue the use of divesting myself of US Currency as the value thereof is DETERMINED to realize a value of NOTHING. All Fiat Currency will realize the true VALUE of ZERO. Why divest myself of SUPERIOR Precious Metals when SELLERS of Goods and Services are more than willing to take an INFERIOR TENDER of a DECLINING QUALITY?
Finally I will address your assertion that Gold and Silevr are NOT Manipulated???
Manipulation of the prices of Gold and Silver have been so widely accepted that it is no longer a contention of some fringe "Conspiratcy Theorists" but is now accepted by the Main Stream. There are active investigations into the Manipulation of the Precious Metals Markets with new evidence supporting the assertion being unveiled at an ever increasing rate, an Exponential Rate.
If you choose to deny the Empirical Evidence then that is just your choice.
Your credibility has been compromised as you profess a profound IGNORANCE about BASIC MARKET INTERACTIONS AND TRANSACTIONS.
Who is breaking out the red herrings here? I think it was pretty obvious I was not debating what your silver dime should buy you at a coffee shop (in fact, I didn't even ask if you were buying an Espresso, a latte or a muffin). I was speaking to the fact that the "stackers" here have done little or nothing to further the cause of a return to sound money. fonestar has actually gone the mile and requested of his employer to be paid in silver coin or in Bitcoin (no luck on either count but that is not the point). This battle is not about wealth preservation or getting rich, it is about supreme philosophy.
And as for you trying to say that I have denied gold and silver manipulation? Again, my points have obviously gone straight over your head. If these "markets" are for gold and silver paper contracts that can be naked shorted and flash-traded are gold and silver metal manipulated? No, in fact there is not even a market for gold and silver. You only serve to empower your enemy through your abuse of basic logic and language.
The Physical Markets and the Paper Markets are two different Markets. THEY BOTH EXIST.
You confuse the two when you bring up the issue that "the Market does not exist" when the Empirical Evidence is obviously to the contrary. That was an ignorant statement or a dishonest statement.
You wrote and I quote, "There are no markets on Earth for gold and silver." That is in your initial post, isn't it?
You wrote and I quote, "Instead of going along with this "gold and silver are manipulated" BS why not grow some balls and stand up and say there are no gold and silver markets?"
You wrote and I quote, " ...if you're not going to ask the coffee shop you go to to accept your silver dime, it is the least you can do."
Well I actually went to a Sandwich Shoppe and DID THAT.
(But I will not continue to act toward my destruction but toward my preservation. I did that to demonstrate to myself, and others, that it can be done.)
I ACT UPON MY BELIEFS. And yet you claim that, and I quote, "I was speaking to the fact that the "stackers" here have done little or nothing to further the cause of a return to sound money."???
Who in the FUCK ARE YOU TO MAKE SUCH A CLAIM? You have NO FUCKING CLUE about what any of us do. None.
Is your "supreme philosophy" about DUPLICITY?
Paper gold, paper silver, physical gold and physical silver all exist. But there are no honest (mainstream at least) price discovery mechanisms for physical gold and physical silver. So when Zerohedge writes an article about gold and silver being smashed (not gold and silver futures markets being smashed) and everyone here mindlessly goes along with it, they only hurt themselves. Technical language and precision means everything.
And as for is more active in their activism about sound money? Are you honestly going to say it is the "stackers" with their quisling acceptance of the paper rectangles? What a load, the Bitcoiners are making much more noise and reaping the rewards as they damn well deserve. The proof as they say, is in the pudding.
There's none honest for bitcoin either so what do you gain by your comments?
The dishonesty if fiat-bitcoin exchanges is what put it to 1200 for bag-holders, 847 not long after & soon to be half that again. plus the cloud-btc wallets that will vanish with "owners" losing it all, which never happens with physical gold & silver.
I get what you are saying there so +1.
I disagree that there is no market. If we can exhaust (with China, India, and Russia's help) the physical gold supply then the paper market would have no backing and would go belly up and expose the fraud. Since this whole banker/economist scheme rides on nothing but confidence it should be a good blow to strike.
I don't believe bitcoin is viable but good luck with that. Don't be bitter that people hate it. Think of it as they are trying to warn you.
Were you trying to say the gold and silver sold was really paper and not metal? Correct.
I'm confused. I can buy gold and silver. I can sell them too. How is this possible without a market?
ALL markets are IMPOSSIBRU markets! Ready for Impossibru Coin, the bitcoin that travels back in time to make you a berzeeliyun fwazeeliyun dollerrrrs!
http://www.gizmodo.fr/wp-content/uploads/2013/07/Impossibru1.jpg
When do we find out how many OZ are standing for delivery in Feb? That should be interesting.
How about 60T last week in China. That's a fucking delivery.
I was always suspicious of those "I'm long gold and I'm glad when the price falls" types. It sounds kind of desperate.
But I now realize I've joined them. I think Jesse (of American Cafe fame) has the most balanced overall perspective on what is happening at the comex these days. In theory the eligable inventory numbers show that there is a significant amount of gold that could be used for deliveries, but the problem is convincing it's owners to make it available.
One motivator would be significantly higher gold prices. So as a long, who is sick of the paper games, why not hope for prices to stay about as they are and cut off this important incentive? Not that there aren't other incentives or arms to be twisted, but you see my point?
I don't get mad, i get stabby---Fat Tony
The beatings will continue until morale improves.
The moral hazard will continue until the beatings improve!
The beatings will continue until the beatee snatches the hammer from the beater and commences a comeback-of-the-ages pummelling.
You know Doc, that is the law of the universe. Until you get your head right, you keep getting it whacked. Once you know you don't need anything, anything at all to be happy, then the beatings stop. Most people can't seem to see the humor in the way this law is misinterpreted.
Limbo
How Low Can You Go ...
Don't know about y'all, but I like 19.73 - a good year besides.
BTFD, now
$19.84 is the one that freaks us out.
I bloody knew this would happen.
Fuckers.
you knew gold would drop a whole $5 and silver down 10 pennies? you are a genius. maybe you can be the next miss cleo? god, you gold/silver bugs are a bunch of little whining bitches.
If I were to tell you, "I knew you had a good hand, and that's why I folded mine," would you conclude I was a genius, and should try out for the next "Miss Cleo" (whatever that is)?
Yeah, nobody should ever sell gold. Anytime the price falls is because the government is selling gold they don't have. Anytime the price rises it's because the world is coming to an end and smart people know they should buy gold.
It's worse than day traders and casino players in here.
OH no, the world is not coming to an end.
I am however, betting on the USD coming to an end as world reserve currency. And, I do believe that will makes it value drop like a stone.
P.S. I'm not whining, just waiting ...patiently waiting.
May I ask, what investments do you believe are the most resilent? 5 year, 10 year turn around?
After a while of saying the US dollar will soon have no value you start to wish for the day it happens so you can prove how right you were.
Be careful, you might just get what you wish for.
Just consider for a moment what that would look like and whether the little gold you have will rescue you from the mob of starving people.
In the end the herd will do what they want even it it's wrong, and the little you do will not be able to save you unless you convince the majority of people to do the same. Won't happen.
The collapse of the USD is not what I wish, it appears imminent. One must make their wager's prudently and play the hand their dealt.
I wish for clean air, clean food and clean water. I wish for truth, justice and equity.
In my view, the stock market is a fraud, realestate is overpriced, bond and savings returns are a joke ...so, where is a good place to maintain a store of value? I have very little gold and tend to favor silver...
I sold my home because the property values were high and my income would not keep pace with the tax and cost of living increases. It became obvious that it was only a matter of time until I would be forced out...
Life is good, I want it to stay good!
Then leave.
There is a time when people need to divest from Gold as Gold is money. The optimal time for divestment is during the time of the Great Reset. In that way the owners of the true wealth can purchase extremely stressed assets for a mere fraction of the true value.
Anything that is US Dollar denominated will collapse as the US Dollar collapses. What follows a Hyperinflation is an extreme Deflation as the Currency Bubble Bursts. That will be the last bubble to burst.
The cycle is Deflation-Hyperinflation-Massive deflation. Increasing amounts of indebtedness does not solve debt. US Dollars, the Currency, is a Debtor Instrument, a Debtor Note. Increasing Debt ensures the Hyperinflationary event which follows. The Hyperinflation is sparked by a LACK OF CONFIDENCE that the debt can ever be retired. We are well into that phase at this point.
Harry Dent is correct in that a Massive Deflation is headed our way. What Harry Dent misses is that there will be an interim Hyperinflationary Event before the realization of that total Deflation.
Until that time it is wise to accumulate as much Dry Powder (Gold) as one can. The Gains will be unimaginable. The Gains will just not be denominated in US Dollars.
Thanks for the treat, stupid! Honey badger don't care. It isn't his gold debt that is accumulating.
Generational theft is easy......they're pretty tiny and don't put up much of a fight.
yeah...that looks about right....if we define normal as an on going trend...like the happy family...its normal, except it is rare....
Whatever they do now the real story is China:
China set to hike official gold reserves to 5,000 tonnes next to combat its growing financial crisis?
http://sufiy.blogspot.co.uk/2014/01/china-set-to-hike-official-gold.html#
Yeah. Somebodies over there have a real appetite for Au.
http://www.ingoldwetrust.ch/week-3-2014-withdrawals-from-sge-vaults-60-tons-ytd-159-tons
Barbarians!
Just rotate those Ui and Disability checks into phizz
It works until it doesn't. And when it stops working hopefully many of them will face the guillotine.
While Jamie gets a bonus?
$10-15 dollar increase/decrease is nothing. No need for phyz holders to be concerned about it.
Buy on large dips (i.e. -$40-100) and hold... that is all you need to do.
It's too bad that Snowden wasn't able to get copies of internal spy service communications on:
The plunge protection team.
The manipulations of hard assets.
Inside trading by government and para-government entities.
We need to know what their game plan is on a day to day basis.
The Presidents Working Group on Markets, aka. the PPT, is no secret spy service. It was established by Executive Order 12631..by free mkt champion: RONNY REAGAN.
Whew - thanks for that red team-blue team blame game update. All better now.
Maybe he did and he just hasn't released them yet.
I heard an interview (I think it was a British show called Hard Talk or something) where the journalise he worked with claimed to have released a very small percentage of the information he had. It was clear from his comments that he had a specific agenda wrt US Government spying and wanting the American people to have a fair chance to make an informed decision about what kind of surveilance state they wanted to live in.
I don't think he's very interested in crushing banks, outing "Family Values Republican" hyprocytes or opining on Obama's birthplace etc etc etc. Its all about the spying for him.
Perhaps that is all he was looking for - low hanging fruit considering his position. To get deets on the other stuff would have been more invasive than just looking at existing records and training material.
Day-to-day would do you no good. If it started to work for you they'd change all their plans that moment.
Mao was complaining about the price of gold again...
Normal market. Yep.
Gold is only valuable as jewelry. In the digital age it's role as a safety play is gone.
I agree it's an inflation hedge but so is income producing real estate which also pays a divided and can be leveraged.
IPRE>GOLD
LOL!!! Good luck with that thinking. Got any worthless gold you want to dispose of?
ask king tut if he still wants his worthless digs!
If you look at your Deed you will see you are a "Tenant", not a true owner. You are subject to the whims of your taxing authority, and if you stop paying, they will decide to get another tenant. Better to own gold -- it will have your back even when you lose your source of income.
Real estate is not money. You need to analyze the economy before deciding whether or not it is going to make you more wealthy. You can't just repeat ignorant statements. Using leverage to blindly buy a bunch of rental property in an economic collapse is stupid. People with no jobs don;t pay rent. Gold's value is as money and as a tool for the government to rescue its finances.
I would wager a considerable amount that my net worth is greater than the combined net worth of all the idiots who have commented on my post. I have been buying prime income producing real estate for many years just as I sugggested.
It's no surprise that I have done extremely well.
Gold is for foolish dreamers with no hope or fund manager salesmen like Eric Sprott. He didn't get rich investing in gold. He got filthy rich suckering idiots to think gold would make them rich.
Buy prime income producing real estate with conservative leverage and watch for yourself.
You write foolishly of the past as if it is the future. Gold & real estate are inverse.
Real estate's had its great run & now it's over. Gold's had its down cycle and now that's over.
What you are pretending is true will not be so until 20 years from now, perhaps 30.
That's how the cycle works.
I doubt your net worth is anything of what you pretend it is, especially if you measure in fiat dollars while they are themselves in danger of ceasing to exist in the mid-term.
So many fools think they are geniuses when in fact they simply picked, as you did, one lucky direction once in your life.
Once the bull starts to buck you the OTHER way you'll break your spine.
THERE IS NO PRIME INCOME PRODUCING REAL ESTATE. NONE.
it does not exist. It used to exist. Now it doesn't. Factories are closed. Jobs are leaving. Wages are dropping. Renters can't afford to keep renting. Home owners are turfed to the street. That means no income for real estate. You're finished. Pack up your bags & move on or you'll find those bags picked clean by the vultures of the economic collapse.
For the time being you still have value to carry with you. Be thankful for that.
It is not a dream that gold went from 35 to 800. It is not a dream that gold went from 260 to 1900. It will not be a dream that gold will go to 2500 from current prices, even 3500.
It's simple reality. Real estate is crashing like crazy around the world because of credit bubbles & collapsing wages.
China, England, Canada, USA, all have property price bubbles. Prices slam up with credit, INCOME slames DOWN from rent, be it retail or housing.
I'm listening TO the conferences of those real estate property landlords, I can hear them all telling investors it will be years before they can even break-even because vacancy is too high & demand is too low.
Ignorance can be cured, Stupid is forever.
Yea, like you have some lots in Detroit that you'd like to rent???
http://content.time.com/time/photogallery/0,29307,1882089_1850973,00.html
Your ignorance is priceless.
Gold is in electronics, teeth (I use it for both), for money (which it always will be & I have it for that), and coming up,
http://pubs.rsc.org/en/content/ebook/978-1-84973-528-5
nanoporous gold catalysts which outperform ALL the other precious metals catalysts - some of which work at room temperature.
Come on Gilson. I want sub $1200 gold and sub $18 silver. Do a proper job on it you useless fool.
Bank for International Sleazeballs, Basel, CH 4002
From Urban Dictionary - Sleazeball
"A person who lies, cheats and steals to get what they want. A person who knowingly violates rules to prosper as long as they don't get caught. A person who manipulates others to join in their unethical behavior.
A person with no character. A person with no ethics, or is unethical. A dishonest person."
.
Yay! Gold is on sale! The price of PHYSICAL gold will only matter when you really NEED to exchange it. When that time comes, gold's buying power will be incredible. Until then the sale price is a good thing.
This shit is old and pathetic! On Thursday JP Morgan had the biggest day on recod for removal of Gold so time for the TRIBE to help them replenish with cheaper gold.
WE all knew the tribe cant have an illusion of hope.
People in general are not at all interested in gold right now. This is truly their bad, bad luck. Accepting "1984" schmucks as bonafide authorities indeed has tragical consequences.
In India and China there are a couple billion people who are always interested in gold
That is so funny! Thanks Tyler for these gems.
I cashed in some gains last Thu, so I honestly hope they crash PMs more because my trades will be settled tomorrow.
I've got a question everyone (myself being the exception) knows which...uh, I'd like to know. The SGE- currently bid is 1611-ish, vs the 1260 westy-futures price...is the SGE Au priced in $?
Remember this fellows, remember this: Gold will not rally until one central bank announces a major sale. Only after the banks recover their physical from central bank reserves, if any, will gold be allowed to rally. Not before.
Those bullion banks are competing with the central bank of China and the populations of China and India - good luck,
When printed money has no cost, it is quite easy to overwhelm any Gold rise.
. . . until delivery demand break your back.
That will never happen
OK, how about: until delivery demands force you to fail to deliver, settle in cash and break the credibility of your price rigging toy?
really surprised no one has taken out these criminals already.
The sheeple will be willingly led into the trains before any of that happens.
Rick Rule from Sprottglobal.com interviewed.Whatever you do,don't invest your money in banks,invest in commodities.http://www.finnewsnetwork.com.au/archives/finance_news_network25550.html
ZH is just like a big grocery store. A lot of food for thoughts in here...
Cheers.