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It's 830ET, Do You Know Where Your Precious Metals Smackdown, USDJPY Ramp Is?

Tyler Durden's picture




 

In the glorious game of pin the 'explanation' tail on the 'manipulated market' tail, this morning, we suspect traders wil be hard-pressed to find a fun-durr-mental trigger for the 830ET trigger pull to dump gold and silver and buy USD against JPY in size... but then, since when did explanations matter?

 

 

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Mon, 03/24/2014 - 08:46 | 4584923 jubber
jubber's picture

Didn't Yulia Timoshenko just suggest nuking Russia as well?

Mon, 03/24/2014 - 08:50 | 4584943 WayBehind
WayBehind's picture

Gold on special. I love discounts! 

Mon, 03/24/2014 - 09:03 | 4584986 eclectic syncretist
eclectic syncretist's picture

Looks like a good day to buy some silver!  And maybe some ASM, CROCF, or HL.  Decisions, decisions, ...thanks JPM.  Thanks Federal Reserve assholes.  Thanks China.  I appreciate your gifts.

Mon, 03/24/2014 - 09:10 | 4585024 SoilMyselfRotten
SoilMyselfRotten's picture

One would think they'd mix it up once in awhile. B-o-o-o-r-ing.

Mon, 03/24/2014 - 09:38 | 4585149 saveandsound
saveandsound's picture

On a regular basis ZH shows chartporn to prove Gold and Silver becomes smackdowned or monkeyhammered. That is misleading and I believe it is done on purpose.

Somebody sold a chunk of gold. Calm down.

We are not smarter then the other market-participants. Gold was a bargain in 1999, 2000 and 2001. Today it is not a bargain anymore. I'm not saying you shouldn't own or buy any. But you better be careful before you throw all eggs in one basket.

jm2c

Mon, 03/24/2014 - 09:42 | 4585156 the not so migh...
the not so mighty maximiza's picture

Somebody sold a chunk of paper gold. Calm down.

 

 

just had to clarify it

Mon, 03/24/2014 - 10:09 | 4585258 AllThatGlitters
AllThatGlitters's picture

Dealers are flush with inventory. They even dropped premiums on some silver rounds and bars to just $0.49 over spot.

http://www.pmbull.com/silver-bullion/

Perhaps they hedge. Or maybe they knew something?  In any event, great deal for those who buy the smackdowns!

 

 

Mon, 03/24/2014 - 10:49 | 4585403 saveandsound
saveandsound's picture

BTFD?

I prefer the "keep on stacking"-method. On a regular basis. In any asset-class.

Mon, 03/24/2014 - 09:50 | 4585180 NotApplicable
NotApplicable's picture

 

Protip: The Invisible Hand has been replaced by the Printing Press. Market participants???? Really????

 

Mon, 03/24/2014 - 10:52 | 4585417 saveandsound
saveandsound's picture

The Invisible Hand has been replaced by the Printing Press

That's true. However, to cite Jim Rogers: "Doesn't everybody know that?"

If you want to beat the market, you need to know (or bet on) something market-participants don't know (or believe in).

Mon, 03/24/2014 - 12:57 | 4586005 Took Red Pill
Took Red Pill's picture

It's gold that doesn't exist! Only on paper

Mon, 03/24/2014 - 08:46 | 4584925 Rakshas
Rakshas's picture

WOO HOOO I LOVE SMACKDOWN MONDAYS!!!!

Mon, 03/24/2014 - 08:54 | 4584953 TruthInSunshine
TruthInSunshine's picture

Precious metal smackdown days ending in "y."

From markets to "mark its."

Mon, 03/24/2014 - 08:47 | 4584931 Truther
Truther's picture

Long gold man. Long gold

Mon, 03/24/2014 - 08:49 | 4584935 The wheels on t...
The wheels on the bus are going to fall off's picture

+1

Mon, 03/24/2014 - 08:49 | 4584936 101 years and c...
101 years and counting's picture

8:30 am is when NYFed logged into Bloomberg Terminal.  I assume.  "upon login, exceute program dump yen, dump gold".

Mon, 03/24/2014 - 08:50 | 4584938 jmcadg
jmcadg's picture

Options Expiry - Quelle Surprise!

Mon, 03/24/2014 - 08:51 | 4584944 tradebot
tradebot's picture

It's their ace in the hole for fixin currecy...it's paper, easy to buy easy to sell and since it's used to prop currency, no one in authority cares...if anything it's job security.

Mon, 03/24/2014 - 08:51 | 4584945 ZeroPoint
ZeroPoint's picture

Ok, so buy more physical at 8:30 am. Got it.

 

Mon, 03/24/2014 - 08:52 | 4584947 cwwang
cwwang's picture

Good grief...  Time to get some more silver!  Doesn't seem like much a smack down to me...  Relatively to a year ago.

Mon, 03/24/2014 - 08:53 | 4584948 jmcadg
jmcadg's picture

What's the half life of this episode?

Mon, 03/24/2014 - 08:53 | 4584949 NoDebt
NoDebt's picture

Ah, the 8:30 PM smackdown.  The universal "all clear" sign indicating strong health and wellness in the world of central planning.  One more day they haven't lost control.

You may begin buying stawks.

Mon, 03/24/2014 - 09:45 | 4585163 Al Huxley
Al Huxley's picture

Auntie Janet's got the situation in hand - lever up, nothin to worry about now, the economy's on fire.

Mon, 03/24/2014 - 08:55 | 4584956 J S Bach
J S Bach's picture

Some day we're going to look back on this time as a bad dream.  Future generations will remember ours as the "corrupt" generation because we allowed this sort of thing to happen over and over and over again.

 

Patience, Grasshoppers.

Mon, 03/24/2014 - 08:56 | 4584961 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Hard to believe that we were up to 1392 pre-market last monday. I'm glad to see that the Crimea/Ukraine situation has been rectified, and that the global economy is back on track....as indicated by the much lower price of gold. 

Mon, 03/24/2014 - 09:30 | 4585111 Carl Popper
Carl Popper's picture

If china growth stops and they crash hard we may see 900 gold.  

 

Buy the shit out of it if that happens. 

Mon, 03/24/2014 - 09:49 | 4585175 Al Huxley
Al Huxley's picture

If all those financing deals unwind, I agree.  I don't think the buying in the futures market that will require will make a dent in the overall selling pressure.  But if China's defaulting on its own internal debts, I wonder how keen they'll be to prop up even the short-end of the Treasury market - I mean if I had to choose between covering my own debts and covering those of my insolvent, belligerent neighbor (who had somehow gotten use to me paying his bills every month and assumed 'that's just how it works') I'd tell my neighbor to fuck off and look after myself.

Mon, 03/24/2014 - 11:15 | 4585522 RaceToTheBottom
RaceToTheBottom's picture

International Macro Economics:

"I'll buy yours if you buy mine".

Mon, 03/24/2014 - 08:57 | 4584967 Ban KKiller
Ban KKiller's picture

Get thy tubes.

Physical must really be getting scarce if they need to "frighten" everyone back. MSM will have articles on how gold is dead, not money, relic, etc., in five minutes. 

Death, by law, to Banksters and their stooges!

Mon, 03/24/2014 - 08:58 | 4584969 firstdivision
firstdivision's picture

If you think that is a fun ride, look at $NG trading from 7am to now.

Mon, 03/24/2014 - 08:59 | 4584971 LawsofPhysics
LawsofPhysics's picture

Right on time...

 

Same as it ever was.

Mon, 03/24/2014 - 09:02 | 4584981 new game
new game's picture

now we know china dumping paper on que to aquire phyzzz. copy the copycat-all is well at the well...

Mon, 03/24/2014 - 09:15 | 4585044 LawsofPhysics
LawsofPhysics's picture

Yes, don't get mad, just say "thank you" and keep stacking...

Mon, 03/24/2014 - 09:21 | 4585068 new game
new game's picture

exactly! simple strategy even a dirt poor china man or woman can have wealth-true wealth along with happiness. direct ones anger at the sociopaths....

Mon, 03/24/2014 - 09:03 | 4584985 g'kar
g'kar's picture

It's not very green of the FED to kill all these digital trees to make all this digital paper.

Mon, 03/24/2014 - 09:04 | 4584994 Ignorance is bliss
Ignorance is bliss's picture

Someday future generations will look back at this period and lament that their forefathers did not have the foresight to buy precious metals and protect them from the enslavement and poverty that emerged for tens of millions of Americans in 2015.

Mon, 03/24/2014 - 09:32 | 4585115 Dave
Dave's picture

Are you implying that those who hold PM's will be slave owners?

Mon, 03/24/2014 - 09:34 | 4585129 Carl Popper
Carl Popper's picture

Yes of course.  

 

Have you forgotten the Golden Rule?

Mon, 03/24/2014 - 09:36 | 4585137 Dave
Dave's picture

My bad, I almost forgot.

Mon, 03/24/2014 - 10:33 | 4585358 quasimodo
quasimodo's picture

Somedays it feels more like being a bagholder.........then I go and grab a walking liberty half and a mercury dime and listen to what they sound like in my pocket.

Mon, 03/24/2014 - 10:34 | 4585359 quasimodo
quasimodo's picture

Dupe

Mon, 03/24/2014 - 09:05 | 4584995 new game
new game's picture

hey china? how low are you going to bring it to? just curious...

Mon, 03/24/2014 - 09:07 | 4585010 Dr. Engali
Dr. Engali's picture

Meh.... I'm so used to it that it has become meaningless at this point. PMs won't go anywhere significant at this point until the whole system melts down.

Mon, 03/24/2014 - 09:29 | 4585102 Quinvarius
Quinvarius's picture

That is what they want you to think.  Gold rising is what will stop the meltdown, and they know it.

Mon, 03/24/2014 - 09:08 | 4585016 Ignorance is bliss
Ignorance is bliss's picture

Buy your PMS while the oligarchs wage war. Once they are finished I guarantee the victors will not be making the real deal available to the public at any price Joe Six could conceivably pay.

Mon, 03/24/2014 - 09:10 | 4585025 agent default
agent default's picture

Stop looking at the price, STFU, stock up while you still can and brace yourselves because the time of reckoning is getting closer.  Stop playing the up and down game because everything else is going to absolute zero.  This is not the time to chase profits and performance, it is the time to prepare for total collapse of historical proportions.

Mon, 03/24/2014 - 11:40 | 4585647 OceanX
OceanX's picture

"This is not the time to chase profits and performance, it is the time to prepare for total collapse of historical proportions...."

 

Total collapse will only come with extinction.  As long as there are humans, there will be trade.  It is encoded in our DNA...

Mon, 03/24/2014 - 12:10 | 4585781 agent default
agent default's picture

I doubt the trade will be in USD though.

Mon, 03/24/2014 - 16:01 | 4586868 dizzzave
dizzzave's picture

Stop playing the up and down game because everything else is going to absolute zero.  This is not the time to chase profits and performance, it is the time to prepare for total collapse of historical proportions.

Completely sane, rational, useful investment advice.

Mon, 03/24/2014 - 09:27 | 4585084 Carl Popper
Carl Popper's picture

China weakness is a good explanation. 

 

Any explanation will do.  How about animal spirits?

 

Keep the party going a while longer.  I ain't ready yet. 

Mon, 03/24/2014 - 09:29 | 4585105 JPMorgan
JPMorgan's picture

I read that Goldman is calling for $1050... yet AGAIN (lol wankers).

Imagine how much physical gold will fly out the door if that becomes a reality.

 

 

Mon, 03/24/2014 - 09:32 | 4585119 Carl Popper
Carl Popper's picture

I am calling 900 something.   

 

Get ready for a big gold sale if china fucks up their soft landing. 

Mon, 03/24/2014 - 10:21 | 4585314 Jim B
Jim B's picture

Yes, they need more paper dollars...... Desperately!  (/Sarc)

Mon, 03/24/2014 - 12:28 | 4585800 agent default
agent default's picture

It's the Treasuries that will get thrown under the bus if this happens.  China has aligned with Russia and both are sending a clear message to the USD world.  It should be clear that Russia (resources) and China (labor and production (over)capacity) view the whole USD system as redundant.  I cannot find a single argument to counter their position.

Mon, 03/24/2014 - 09:51 | 4585182 goldenbuddha454
goldenbuddha454's picture

Is it plausible that the penalties imposed on JPM were a diversion from the far larger manipulation ie. Precious Metals?

Mon, 03/24/2014 - 09:52 | 4585184 Al Huxley
Al Huxley's picture

I have to say, all the 'buy the dip','yeah, gold's on sale' sentiment here makes me think there's more downside to come.  When the comments turn to bitter, angry 'fuck you Janet, fuck you JPM, drop it to fucking 0 if you want' and the idiot bear crowd turns out in force, that will probably mark the real rock bottom sale price (or when Kito buys again!)

Mon, 03/24/2014 - 12:12 | 4585798 kill switch
kill switch's picture

I think gold silver certainly  have fundamentals but the fact that this market is TOTALLY RIGGED BTFDips mantra has grown old..these slamdowns can go on for years.....The only way the AMMERRIKKAN sheep will lose faith in the USD is when their fucking bank accounts go into capital controls.... and then they will run to the feds for a handout...game over..as for gold/silver theses Ammerrikkan idiots wouldn’t know what to do with it or how to procure it....

THESE TBTF ASSHOLES WILL DO ANYTHING TO KEEP THIS GOING,,,I FOR ONE TOTALLY THOUGHT THAT THIS SHITSTORM WOULD HAVE COLLAPSED THREE YEARS AGO...

Mon, 03/24/2014 - 10:03 | 4585227 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Back to 1200 soon. Same old shit different fucking day...

Mon, 03/24/2014 - 10:39 | 4585375 Conax
Conax's picture

F*** JPM, F*** GS, f*** the stinking chinese.

Hang onto your metal.  Buy moar.  They're running psychological stops. Don't fall for it.

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