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Gold Price "Manipulated For A Decade", Repeatedly Slammed Lower, Bloomberg Reports
While the FT promptly retracted an article on precisely the topic of gold manipulation from earlier this week (recorded for posterity here), Bloomberg appears to not have had the same "editorial" concerns and pressures, and today released an article once again slamming the final conspiracy theory that while every other asset class is manipulated, gold is in a pristine class of its own, untouched by close-banging, price fixing traders or central bankers, and reports that "the London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say."
Of course, over the past 5 years we have reported time and again how official gold manipulation started in earnest some time in the 1960s (who can forget the "reshuffle club") but we will start with a decade.
Here is what BBG finds:
Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five of the biggest gold dealers, are a sign of collusive behavior and should be investigated, New York University’s Stern School of Business Professor Rosa Abrantes-Metz and Albert Metz, a managing director at Moody’s Investors Service, wrote in a draft research paper.
“The structure of the benchmark is certainly conducive to collusion and manipulation, and the empirical data are consistent with price artificiality,” they say in the report, which hasn’t yet been submitted for publication. “It is likely that co-operation between participants may be occurring.”
The paper is the first to raise the possibility that the five banks overseeing the century-old rate -- Barclays Plc, Deutsche Bank AG, Bank of Nova Scotia, HSBC Holdings Plc and Societe Generale SA -- may have been actively working together to manipulate the benchmark. It also adds to pressure on the firms to overhaul the way the rate is calculated. Authorities around the world, already investigating the manipulation of benchmarks from interest rates to foreign exchange, are examining the $20 trillion gold market for signs of wrongdoing.
Tell us something we didn't already know. Then again, this time may be different, because one of the authors, Abrantes-Metz, advises the European Union and the International Organization of Securities Commissions on financial benchmarks. According to Bloomberg, her 2008 paper “Libor Manipulation?” helped uncover the rigging of the London interbank offered rate, which has led financial firms including Barclays Plc and UBS AG to be fined about $6 billion in total. She is a paid expert witness to lawyers, providing economic analysis for litigation. Metz heads credit policy research at ratings company Moody’s.
By way of background, the history of gold price fixing is well-known and is one of the longest running traditions in banking:
The rate-setting ritual dates back to 1919. Dealers in the early years met in a wood-paneled room in Rothschild’s office in the City of London and raised little Union Jacks to indicate interest. Now the fix is calculated twice a day on telephone conferences at 10:30 a.m. and 3 p.m. London time. The calls usually last 10 minutes, though they can run more than an hour.
So what exactly did this "erudite" authority on manipulation uncover?
Abrantes-Metz and Metz screened intraday trading in the spot gold market from 2001 to 2013 for sudden, unexplained moves that may indicate illegal behavior. From 2004, they observed frequent spikes in spot gold prices during the afternoon call. The moves weren’t replicated during the morning call and hadn’t happened before 2004, they found.
There’s no obvious explanation as to why the patterns began in 2004, why they were more prevalent in the afternoon fixing, and why price moves tended to be downwards, Abrantes-Metz said in a telephone interview this week.
“This is a first attempt to uncover potentially manipulative behavior and the results are concerning,” she said. “It’s down to regulators to establish why there are such striking patterns but banks have the means, motive and opportunity to manipulate the fixing. The results are consistent with the possibility of collusion.”
And the punchline:
Large price moves during the afternoon call were also overwhelmingly in the same direction: down. On days when the authors identified large price moves during the fix, they were downwards at least two-thirds of the time in six different years between 2004 and 2013. In 2010, large moves during the fix were negative 92 percent of the time, the authors found.
Unpossible - the bank prop traders manipulating gold and the central banks for whom precious metals are the holy water that can destroy their fractional reserve ponzi scheme would never lie. Because otherwise the historic silver slam from May 1, 2011, in which silver cratered by $6, or about 15%, in milliseconds and ended the parabolic rise higher in the metal could be... gasp... criminal.
In other news, we may have officially run out of conspiracy theories.
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Ya dont say
Learn from Germany. Always, always, always demand physical.
Fate the Magnificent
"Push the Button, Max"
ummmm yeah....learn from Germany, always let others keep your assets in safe keeping.
Learn from Germany ? Their polite request for THEIR physical was to late.
I reckon the Noodlefrau was just trying to be diplomatic
when she ruled out getting useless EU opinion on her putsch in Ukraine.
Imagine what the Bundesbank probably got told by the Fed:
What gold ? Fuck you !
fed said - 'my name is bennie bernake, her name is yellen and his name was greenspan. we are of the faith. you want what?'
forgiveness is a bitch. it's bigger than most of us. anything is bigger than those 3 names, 3 fcking stooges are bigger. bought and sold by the big banks.
as an american citizen, i'm ashamed. we move on by getting over. germany is supposed to be a close ally now.
but of course, the fed sold the american gold also.
god bless lloyd and jamie! you really are smarter than us, so you are richer.
end of story.
Re: Learn from Germany
Don't insist when the first answer is No?
Gold will be manipulated down until it can't be - and when that happens you will be glad you were smart enough to stack up some beans, bullets, and bullion.
Like the Goddam Suckers and the rest having zero losing trading days, completely rigged in their favour
Does the SEC have time to change gold positions before the price change? Please say yes.
Rats in the markets. I'm ready for some more NSA docs.
How am I susposed to go jogging if it is always raining in California. This sucks.At least in NY you can jog in the snow.
You won't melt.
Being Called a Conspiracty Theorist is a badge of honor.... ya hear that Vince Davis!
What we really care about is April-June of 2013. That permanently injured many people especially in PM stock world.
Well at least China got their gold cheaply to support their currency and alleviate some UST bill issues and no entity has the time or wherewithal to track down the perps for 2013 and the last 10 years. TBTGC too big to get caught.
You have to be blind and deaf and mentally incompetent not to know that - unless you are working for the banksters or the SEC or the CFTC. Then your job depends on ignoring the truth
From infinite spying to infinite manipulation to eternal wars and infinite printing and complete coercion and control, what is fair and just in the land of the free?
What is TRULY free in the land of the 'free'?
Only the criminals from the NSA and the banksters
The markets.
[LAUGHTER]
Healthcare.
[LAUGHTER]
http://www.israeli-connections-to-911.com/zim_shipping3.htm
If you're shipping your physical, why not choose Zim?
You can count on Zim!
And they carry a ton of insurance. It is a can't lose proposition!
each day, one more layer of foil gets removed...
Guess Bloomburg isn't owned by some antipodean sleazeball....yet.
http://www.youtube.com/watch?v=KjsqmFMGpJE
Gee, thanks captain obvious. More importantly, what will be done about this?
Nothing? Fucking cunts.
Yeah, call me crazy, but I'm starting to think the reason all of this is coming out is specially because there's a block or ban on prosecutions.
Maybe there's some sort of unofficial grace period. I don't think they'd be exposing the lies if they expected they would be immune forever, which is leading me to think there are special conditions occurring.
And yet, does it really even matter for us who own physical gold?
I often think that the manipulation worked to our advantage. As long as you did not speculate in gold.
The best is yet to come, FOFOA at his best:
http://fofoa.blogspot.com/2014/02/think-like-giant-3.html
In other news, Bloomberg reports that Building 7 seems to have fallen in way that resembles controlled demolition.
now that we are all fully aware what's going on, WHAT WILL BE DONE TO STOP THEM! I say seprarate the paper and the phisacle markets price/feeds this way let them play in their paper uncoupled to phisacle
The Queen is willing to give you what you ask, but you have to be willing to give up your country. Death of the USD$ means the death of America.
Re: WHAT WILL BE DONE TO STOP THEM!
Who?
Bart "The Hair" Chilton should be brought in to investigate. He and his hair will get to the bottom of this.
Nothing seems to be criminal in our Ponziconomy.
LIBOR rigging, Gold price slamming, paper gold that is unbacked by tangible, vaporization of other people's money, etc.
Everything is backwards, upside down, inside-out, fucked up.
With this coming out from a MSM source maybe it's the beginning of the end of PM price fixing and the TRUE price will finally emerge. Keep stackin'
as I said, we'll cross $1600 this year.. then start selling into the fade.. hold on for more at your own peril (current $1800 bagholders will still be bagholders but they dont care since they just rub themselves on their stacks everyday)
true...it's soooo nice and shiny ;-)
This year will rise above 2500.
NEXT YEAR will hit 3500.
The bag-holders are those with bitcoin: it just hit $5.76/btc less than 2 days ago & will stay there soon enough http://flic.kr/p/kyKgtF
Those 19 Saudis should enjoy reading this.
You mean the guys the BBC found and interviewed in 2002? Like the Egyptian Dr. Mohamed Atta, whose passport photo was splashed all around the world but was very much alive and working in Egypt just as he had for years?
Now that they've exposed LIBOR and Gold Price manipulation, maybe next they can look into professional wrestling - I understand there are many 'conspiracy theorists' who think that's fake and fixed as well.
So, the market is "offically" manipulated for a decade?
Can't be much of a "market" then.
No shit!
FUCK YOU, BLOOMTURD!!! You authoritarian, tyrannical, anti-gun, motherfucker.
http://www.youtube.com/watch?v=LA7cYG13wZk
So now that everyone knows the criminals decide to put it on the front page and deal with it. Of course since these problems are so deep it could take at least 20 years to get to the bottom of it. "But we're working on it".
Bring in The Hair Chilton, he'll investigate.
Bart "Seagulls" Chilton will only have nefarious half-findings. We need a professional here: Jon "check's in the mail" Corzine.
"Of course we were spying at you and your elected legislating officials will sort out any remaining confusion about our great services to our nation`s security.
From NSA with love from Moscow "
"You all knew we had to fight the gold conspiracy against
our great dollar since 1971. Evil speculators tricked us
out of our gold despite the patriotic efforts of our great
banks to price speculators out of the market."
What did you expect? Socialists lie about everything. They have to.
http://youtu.be/4Ml7-aDXrgQ
What socialists?
I didn't see any.
Fascists a-plenty but they are anti-socialist as much as they are anti-capitalist.
And that is why the banks and governments in the West don't have any real money left. They sold everything they were trusted to safeguard.
I always give gold jewlery to girls who manipulate me!
Booty -
dirty money (call)
loot
pillage
plunder
prize
But Bart "The Hair" Chilton said everything was on the up and up? How could Bart The Hair be wrong?
I hope they disembowel every fucking one of them.
Alan Greenspan, 1993 :
"central banks stand ready to lease gold in increasing quantities should the price rise."
http://gata.org/node/8208
Greenspan: Lying sack of sh**..
"Potential Application of the CEA to OTC Derivatives
"The vast majority of privately negotiated OTC contracts are settled in cash rather than through delivery. Cash settlement typically is based on a rate or price in a highly liquid market with a very large or virtually unlimited deliverable supply, for example, LIBOR or the spot dollar-yen exchange rate. To be sure, there are a limited number of OTC derivative contracts that apply to nonfinancial underlying assets. There is a significant business in oil-based derivatives, for example. But unlike farm crops, especially near the end of a crop season, private counterparties in oil contracts have virtually no ability to restrict the worldwide supply of this commodity. (Even OPEC has been less than successful over the years.) Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
To be sure, a few, albeit growing, types of OTC contracts such as equity swaps and some credit derivatives have a limited deliverable supply. However, unlike crop futures, where failure to deliver has additional significant penalties, costs of failure to deliver in OTC derivatives are almost always limited to actual damages. There is no reason to believe either equity swaps or credit derivatives can influence the price of the underlying assets any more than conventional securities trading does. Thus, manipulators attempting to corner a market, even if successful, would have great difficulty in inducing sellers in privately negotiated transactions to pay significantly higher prices to offset their contracts or to purchase the underlying assets.
Finally, the prices established in privately negotiated transactions are not widely disseminated or used directly or indiscriminately as the basis for pricing other transactions. Counterparties in the OTC markets can easily recognize the risks to which they would be exposed by failing to make their own independent valuations of their transactions, whose economic and credit terms may differ in significant respects. Moreover, they usually have access to other, often more reliable or more relevant sources of information. >>>Hence, any price distortions in particular transactions could not affect other buyers or sellers of the underlying asset.<<<"
http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htmLeasing central bank gold out is like leasing out your wife.
Bart The Hair said, "I'm SHOCKED!! Just shocked". Nice hair Bart
So basically the banks are now long, and their employee lackys are about to go to jail....
This is slightly off topic, but I'm interested in learning how to invest in gold/silver mining. Can anyone recommend a credible information source where I can learn to choose mining stocks that I like? I appreciate the help
goldsilverdata.com but there are loads of others as well. There is no real need to subscribe, BTW.
You are brave n8. You never know what you are going to get with the miners. My advice is to learn about copper mining and how it relates to durable goods indexes if you haven't already. Most major producers of Au and Ag are the copper miners. If you want to play the juniors you are just gambling and is a good way to lose your ass. That's just my opionion though.
easy-peasy.
Credible sources: there are none.
Now, place your bets.
No, really, that's the actual state of affairs.
How long do I have to wait to see criminal bankers rounded up and prosecuted??
you won't - they run the whole show - its going to have to happen from the bottom up
uh, "every single thing in the world being manipulated by the existence of fake money"
No shit
All they want us to do is trade PM etfs so they can take digital transaction fees every time they run a stop. They do not want us to hold physical but that is why I still do.
Gold will gap up to $5k when no one owns it. It will happen very fast. Don't sell your physical. You're paper is worthless trash, to be exchanged for worthless currency. Think me speaketh to the choir on this.
You are correct Chuck. 15 years in here brother. I don't trade paper.
Dollar below 80. Ukraine, Syria, Afghanistan, Iran, Iraq, massive debt and unemployment. Food stamps at records, absurd Obamacare. A useless Congress and more useless Administration. Michele takes 5 million dollar vacations with the "kids". Russia on the move.....And gold and silver are..... Lower.
Manipulation. No way. (sarc).
In other news
"Did Jeremy Bieber Abandon His Family To Party With Justin?" <-- This is actually a story
Merica WANTS TO NO...
Most poeple are not paying attention to the world around them.
NOOOOOOOOOOOOOOOOOOO SHIIIIIIIIITTTTTTTTTT.
Break the belief that because Bloomberg or FT or now a major university CONFIRMS what the obvious has told you for YEARS that it's now 'official', otherwise your just a lemming.
The gold price MUST be controlled!
If they lose control that would be the end of the dollar reserve system....They will fight this until the last day.
Do not expect 'something to be done'...it won't.
If gold could be used as a reserve then entire 'American way of life' would become third world almost overnight. This is not just playing games with a commodity for profit. It is maintaining a system in which gold price is kept near production cost. If gold rises to a value in which it can be used as a wealth asset on a national level it would be the obvious choice to be the world's reserve and the dollar's final day would be here. No effort will be spared in keeping the price of gold under control....none...
It's true. People don't see the big picture. They cannot see past their own portfolios. The USD$ is the cheap glue that holds it all together, and they expect some kind of managed transition to something new? HAHAHAHA!!!
The Neoconservatives will promise you paradise. Hope they know when to stand down. You put a lot of faith into people you don't know, and couldn't give a rat turd about any of you.
Someone's going to get suicided with a nail gun over this sordid affair.
Nations are about to collapse, and you're worried about one person?
Not really. I wish they'd hurry up and collapse already.
typos fixed - or else
Someone's going to commit suicide with a nail gun over this sordid affair
Certainly wouldn't want to hang out in tall buildings if I wrote something like this. I'd probably also avoid bridges with 15 foot fences in fear I might climb over and jump!
Release gold from its manipulated price.
RELEASE THE KRAKEN!!!
http://www.youtube.com/watch?v=gb2zIR2rvRQ
Guys come on - shouldn't we wait to see what the official statement is from Gartman? That should clarify everything considering how brilliant he is.
He's a graduate of Kabbalah State University? Did he major in Magic, I mean Economics?
but Karl Denniger said this was rubbish for years....
LOL, that cocksucker worries about Denninger and Denninger only. If I remember correctly his byline states "I dont care if its right or long, I just care if it makes me money" He's a worthless piece of shit telling people what they already know then pumping people to invest in ways he can scam them.
“Libor Manipulation?” helped uncover the rigging of the London interbank offered rate, which has led financial firms including Barclays Plc and UBS AG to be fined about $6 billion in total."
Paid to who? Citizens or the Goverment? People that got hurt by the minipulation never saw any money.
So when these banks start paying fines for what they did no one deserving of that resitition is going to get it.
But its only the paper price! Buy and hold. Buy and hold!!!!
Crazy shit. Two years ago I could buy a hard piece of metal for more than I would today.
Not paper gold. Pure, bite your teeth into it metal gold.
Yet I am told if I just hold onto it, everything is going to collapse, and I will be happy with my gold....that would be worth about 1/3 of what it today.
Someone tell me why I should buy and hold gold. It seems kind of stupid.
I hold gold but you shouldn't. As you say, it's stupid.
I suggest that you buy bitcoins and an Obama IRA.......
Ya der eh, maybe sell it to me, trade you for back bacon
because the day is coming when you wake up and can't use dollars.
Mark my words you will be trying to get gas, food and pay bills with dollars and everyone will say to you "that's not real money anymore, we don't take those"
Dun dun DUN!
Thanks evil manipulators for giving us more time to stimulate the underwater salvage sector.
PMs are the anti-FED.
Therefore any action against the PMs should be traceable back to the FEDs.
The FEDs have it in their charter to defend the dollar, against anything, that includes the PMs.
That is probably why they keep saying it is not illegal manipulation when the FED (or someone acting on their behalf) does it.
By doing this ...they think they are fooling the western world....the problem is the eastern world is not buying it.....the lie that is..they are buying the hell out of the real metal...and sometime in the near future they will own 99% of it...and all that paper that the west likes to play with...will blow up....and then we will see who is telling the truth or not...I think even then the politicians will have to ask the question as to where their gold is...our gold..
Looks like I'll have to switch my full attention finding Bigfoot.
If you find BigFoot, ask him to give my GOLD back. He stole it.
I am not like these fake boating accidents here
Can someone explain to me why Obama hasn't dusted off FDR's EO 6102 yet?
Because now the banks are free to use fraud to claim entire homes & all contents, and governments own the banks, banks own the governments, so it's a done-deal already. What do you think all that robosigning & Linda Green nonsense was really about? You didn't sleep through the true conclusion, did you?
Congratulations Zerohedge. Fuck you all tame and compliant, head in the sand financial media - you know who you are.
In other news, water is wet, winter gets cold and the sun rises in the east...
Be grateful your insurance policy is being subsidized.
It is only insurance in physical form.
well it sures feels like its been manipulated the last few days, should be way higher on Ukraine
In response to the article:
No $hit Sherlock
As I write, dollar down 51 basis points....gold down $8.
This shit is going to blow up in their face.
not a market - an ongoing crime scene...but without any interst of the "police" to even send a squad car.
and when the rule of law is dead, probably best to do and buy as you are told. BTFATH as long as there is no law but "their" law.;
all the same, I'll sit this out as the fact that we'll find out next week that the monetary base has begun shrinking as of Feb St. Louis Fed report will not be welcome news???
AT the moment both the USDX and spot gold down .60% -- as if the USD was tightly connected to something of real value.
-- Beat me to it, Gringo.
USDX isn't a measure of anything at all. It's pointless to look at.
If it was accurate it would change based on the number of euros, yen, dollars, aud, cad, etc., but it doesn't, and if it was useful, and it isn't, it would be related to supply & demand of COMMODITIES not just other currencies.
It never will be. You're wasting countless hours and maybe even betting dollars on a rigged mathematical artifact.
In the grand scheme of markets USDX is nothing more than a burned out pixel that only shows white or red or something and never changes.
Manipulation???
2013 - Total silver ETF holdings are 3% below the all-time peak (currently @ 22k tons) while the price of silver fell 36% - Global inventory is likely about 1.5 yrs (500k invetnory / 300k/yr ton demand)...Silver ETF outflows were 1% of '13 supply
2013 - total gold ETF holdings (1.5k tons) have dropped 34% from their peak seen in December 2012 - Gold price fell 28% (global inventory is likely 35 yrs plus...175k inventory / 4500/yr ton demand)...Gold ETF outflows were 20% of '13 supply
Your argument is just a mass of random statistics with no guilding logic at all.
yeah - that is the point...there is no rhyme, there is no reason.
No logcal arguments to make.
these "markets" are riddled with actors behaving in manners not in accordance with a primary goal of profit but instead control
I believe, but Im no expert, and I am ready and willing to be corrected, but it is not the short or ETF position that is important, as the means of driving down the price is by insider trading from one member of the cartel to another. Every so often the roles are reversed, so they could effectively keep the price low without any long term positiion. Its simply electronic fuzz. A sells to B who sells to A at the fix price in massive volumes when the price rises above the fix price. A five year old could code the algorithm.
These things (Gold and Silver ETF's in this case) are alike but behaving completely contradictorily. This is typically the sign of manipulation or otherswise known as lawlessness and how can one think critically or act in a contrarian fashion without the rule of law. So many hedge fund mngr's and smart investors getting beat as they are re-educted on the new central planned reality
the time for independent thinking is dead (or in a coma) and this is a time for assimilation when fundamentals are simply not relevant...power is. Absent the fear of law (or with the consent of those in power) these markets are simply about how much you can steal and you don't even really need to worry bout covering your tracks.
Another gold manipulation article, and nothing changes.
Only after the banks are taken to court and sued by every spec trader in the wrold will they back off from shorting gold and silver.
More likely when they finally, utterly fail to deliver.
Well....BTFMD Buy the Fucking Manipulated Dip.
www.kingoftherepublic.com for the campaign to sue Deutsche bank for silver manipulation.
So far over 500 views, one comment and no donations. Come on chaps, why whinge about the manipulation if you just let it happen. We need to pool our resources. The next time you spend $1000 buying silver, think about donating $5 to actually get the banksters before a court, and maybe we can get this unravelled where the regulators have failed.
So WHY didn't YOU donate? What foolishness you post, hypocrite!
Because I am running it, and I am putting my own money into it already.
The judges are bought.
It would be pointless.
The prosecutor is bought: look at OJ Holder still looking for the "real gunrunners" http://flic.kr/p/edpUf8
No -1 for you only out of pity that you are so naive.
Today is a perfect example of manipulation....the dollar is down, commodities are up, the shit's kicking off all over the world, and gold and silver are...down??? Huh???
ZH, you forgot the "may have been". Conveinent error.
Captain Obvious says..."sun rises in the East and sets in the West". Stay tuned for more life questions!
( See last missive " Is the price of gold manipulated"? Details following...)
No shit, Sherlock?
Thanks for the info elCapitan obvious.
Has anyone checked the PM content of the metals given out at the Winter Olympics?
Its always somewhere between fuck-all and zero.
An article during the last olympics said the gold medal was mostly silver.
What I cannot understand is why the miners have not been raising hell or creating law suits all this time. Are they in on it somehow?
They are owned by the manipulators. The banks have already bought them out. And those that have not been bought out have been sabotaged by the cartel. It is fixed at every level. Its like Political Correctness - no chinks in the wall allowed.
www.kingoftherepublic.com
That make sense. I expect they do not complain for threat of death or worse. I own some stock Yamana and wonder if I should just sell it.
Well all the advice I give out turns out to be bad, guess I am no insider. But my feeling is that any paper is only as good as a promise from a bankrupt. If all the countries begin defaulting then there will be nationalization of foreign assets on a global scale, in which case shares in a foreign company will not be worth more than the paper they are printed on.
I would. If I was to hold a miner, and I don't, it would be SLW or FNV.
I'd rather hold USLV ETF instead, the performance is more impressive, more attuned to the actual metal price.
That's my personal preference as I did the math relating gold to silver, silver to USLV & time-to-gold price (compress date-scale using logarithm, look at 10 year chart, watch repeat of 2008-9 rebound back up already happening now). This puts gold to 3500 next peak & it could take 18-36 months.
The math on trend is:
ln(silver) = 19/12 + gold x 3 / 2635 : http://flic.kr/p/f17z1s
USLV = silver 3.92 / 2364 (can be 6000 in decay flic.kr/p/kprn3f , flic.kr/p/kppK2Z )
decay goes up with time so let's use 6000.
ln(silver) = 19/12 + 3500 x 3 / 2635 , silver = 261.949848547
I'll go with 262.
262 3.92 / 6000 = $503,025.28 so splits will happen but pre-split share will hit that price, closed under 60 last. That's a big jump.
I estimate if this peak is hit a drop to 2500/oz USD will then happen for gold & fairly quickly. Enough to kick people in the balls hard despite 2500 still being far higher than today's price or the last 1900 peak.
hey - dat's raciss. most famous wall be chinese.
It's the Bush administrations fault. Or something.
Let's be honest here - at least the manipulation greatly helps physical stackers. Without it, I would've been shut out a long time ago. As for the traders...it's certainly your choice to try, but you're probably playing the wrong game on this one.
Short fiat, long phyz.
It does NOT help when the stackers fall into distress. Suppose you lost your health tomorrow and your income stopped. Then you would be forced to sell at the reduced level. Then it would not seem such a great help. In that case, it becomes a dire issue. It will also not help if most the silver has been pushed abroad and your countrymen are so impoverished that they simply dont care how they get hold of money, as long as they get it in the end. In that situation, your money will be worthless. That is why we need to end this ASAP, so that our countries are good places to live, and our countrymen not made mad in desperation.
www.kingoftherepublic.com.
Don't get me wrong, I'm not condoning manipulation, just trying to make lemonade.
If it ever came time to sell, given the scenarios - I would rather have phyz to sell at a lower price, than NOT have any at all. Much like the struggling nations, I would sell alot of shit off before even considering the phyz.
Someday, and it will be oddly appropriate - all those paper slips with dead presidents on them will only be useful for wiping your ass. Just sayin to put them to better use now and keep stacking while they attempt to sell you this "be-happy-all-is-fine" crap.
if you can afford to stack then stack, just please don't crack open a bottle of champagne when the price is hit.
i agree with smuckers. for 3 decades, i avoided physical and was all in doing well balanced between stocks, bonds and interest on deposits.
now - i'm 100% cash, because i lived through 1987, 1998, 2001, 2008 and i did pretty good selling long stocks and going short stocks in 2001 and 2008 after learning from the euphoria from 87, 98.
i sold puts on the dow 2 days before qe1, i never could have imagined what should have been such an illegal action, and i got crushed. am i bitter? oh hell yeah. the stock markets are completely rigged, sure, everyone was always trying to rig, but even madoff, with all his connections was running mostly a ponzi, NOT a stock manipulation fraud. and others - sure, they could manipulate a few stocks here and there, but now, it is the entire market.
last year my savings retirement account had $100,000 and they gave me $8 interest for an entire year. thanks. keep the change pal. send it to bennie.
so finally - i gave in and started stacking. and i'm very thankful for the opportunity, because at the real price, i couldn't get in. but at somepoint, the real price will kick in, and that's where i'm very happy.
well then DON'T.
I didn't. I did quit my job. Not lose my job but QUIT. I didn't count on a massive drop or rise in gold. That was 2011 January.
I did sell a bunch of gold bars for cash into the peak, 1 after the peak back around 1460.
Prepare, don't complain. This is Fight Club and if you're not ready you can stay on the fucking porch before joining Project Mayhem.
it's hard to believe that we hit 1345 at 1 am on Tues morning. It's almost as if hitting new high acts as a reverse springboard with gold. You blast down back through the level from which the new high was hit, down to lower levels.
It is called the Gold Fix. The Silver fix, for silver, is explained on my website www.kingoftherepublic.com. The reason it goes down is because the banksters drive it down, once it goes above the fix price.
HELLO The FT article is back on the FT website. It has been for days now.
Nothing is an accident or coiniedence. This information has been allowed to be released for the benefit of someone. It feels nice I'm sure to have suspicions validated, but this is deliberate. There is more to this conspiracy, I'm sure.
Yeah. I have been seeing way too much of this coming out in the MSM lately. If the media is going on a witch hunt, there is a government/banker purpose behind it.
Only thing I can think of is either the Too Big to Prosecute no longer give a rat's ass or they're trying to gain some credibility for the bought and paid for MSM. After all, they'll still need propaganda in the future.
I'd guess that the Germans didn't complain too much about not getting their gold because they were probably told if they raised a ruckus there'd be a new import tax on their cars....similar to what happened to their utility battery business a few years ago when they had the temerity to cross swords with United Fruit.....just one more example of who actually runs our government.
The German banks, particularly Deutsche Bank, are instrumental in balkanizing the UK and US:
https://www.db.com/cr/en/docs/Americas_Newsletter_Spring_2013.pdf
The injustice doesn't just flow one way. Germans have to speak out against this.
Has the ghost of Marc Rich made an appearance at the house of Himpton?
http://tradewithdave.com/?p=17193
Nobody knows the troubles I've seen, nobody knows my Soros.
I know it's been said over and over the Fed likes a lower gold price in order to make the dollar seem stronger. I suppose that could be true. But it might be something simpler. Such as, if you know you can take the price down, and when you will be doing it, you (or your really good friends) will know exactly when to place your leveraged naked short bets, and when to cash them in.
Doug Casey and Rick Rule: not that those in the know haven't seen through your tired Bozo acts for years, but now you guys (and many others like that bow-tied ASSHOLE Jim Grant) have been exposed as pompous, bullshiting blowhards who wanted their cake yet couldn't bring themselves to come clean for fear of their mainstream credentials getting yanked...
No manipulation, eh fellas? F*CK YOU!
forgive me if this has already been mentioned above in this thread, but how does this story jibe with the fact that gold ROSE in value 5x in the late 2000's, during this period that was studied? Was that manipulation too? Just wanna know.
yes, and inflation, and external forces (like the busts of 2000, and 2008), with just a hint of actual supply and demand.