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Another Gold Smash, USDJPY Dash

Tyler Durden's picture




 

SSDD... the overnight ramps are getting weaker and the morning monkey-hammerings of precious metals are not as aggressive but once again, for the benefit of those playing at home, USDJPY is surging in an attempt to drag stocks healthily green and prove that everything is fixed and gold is being dumped to also prove that the status quo rules and barbarous relics are a thing of the risk-strewn past.

 

The problem is... stocks are not behaving as they should - no ramp

 

But Gold's deja vu is now 6 days old...

 

Charts: Bloomberg

 

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Fri, 03/28/2014 - 08:30 | 4601985 GetZeeGold
GetZeeGold's picture

 

 

We have to crash real money.....to save the fake.

 

We're doing it for the children......cause they're paying for it.

Fri, 03/28/2014 - 08:34 | 4602003 slaughterer
slaughterer's picture

What large investment bank or government agency might be behind these smash downs?  Nevermind.

Fri, 03/28/2014 - 08:41 | 4602029 TeamDepends
TeamDepends's picture

Saying "I love you" is easy.  But when you want to murder someone, well, that shows you really care about them.  So they must have a huge crush on gold.

Fri, 03/28/2014 - 08:43 | 4602034 jaap
jaap's picture

Look at the option calendar and you know why...

Fri, 03/28/2014 - 08:52 | 4602055 fonzannoon
fonzannoon's picture

Exactly. It's the option calendar. Also the fed meeting. Yup the option calendar and the fed meeting. Also China copper crapper. Defintely the options calendar, the fed meeting and the china copper crapper story thingy. Also 4 old white guys on phones in London. It's definitely the options calender, the fed meeting, the china copper crapper story thingy and 4 old white guys on phones in London.

Oh but also...

Fri, 03/28/2014 - 08:58 | 4602068 greatbeard
greatbeard's picture

They are doing to it crash silver and save JPM.  Yeah, that's the ticket.  WFC why?  This can, and has, gone on for a long, long time.

Fri, 03/28/2014 - 09:19 | 4602144 TeamDepends
TeamDepends's picture

Perhaps the jig is up, because silver is + .5%, and gold is about to turn green.  Could this be the day?

Fri, 03/28/2014 - 09:48 | 4602243 fonzannoon
fonzannoon's picture

no

Fri, 03/28/2014 - 09:57 | 4602273 AllThatGlitters
AllThatGlitters's picture

Gold's trying to bounce right now...

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

Although for a change, silver is the metal that's looking a bit stronger, with a much better bounce abvoe the last low:

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

When can we actually get a sustained rally? This last beatdown is more, and longer than I expected.

Fri, 03/28/2014 - 09:59 | 4602279 AllThatGlitters
AllThatGlitters's picture

Miners look like they've got some legs under them, possibly bottoming yesterday?

Did somebody say that miners tend to move before gold?

Fri, 03/28/2014 - 10:08 | 4602312 Al Huxley
Al Huxley's picture

You have to be really careful about the miners, because after a big selloff, they'll make what SEEMS like a big bounce, but is really just a sideways consolidation move before the next leg down.  The only way you can be even remotely confident that it MIGHT be a real reversal is if the move is so big you're left feeling like you missed 'a huge buying opportunity'.  And even then, more often than not, after it LOOKS like the kind of a breakout that can be bought and held, it will be reversed for double-profit on the part of the market makers as all those 'buy the breakout' buyers get their asses handed to them.

 

Short answer is, the miners are more crooked and manipulated than street games of 3 card monte, and any moves in them should be treated as highly suspect.

Fri, 03/28/2014 - 21:51 | 4604583 X_mloclaM
X_mloclaM's picture

yep, n spect a managed rise punctuated with with the obligatory 'fear fests' or 'phys shoppin', depending on the asset market in question, the ish is can China force the timing due to contagion, degree, and unmanageability of the situation despite JPM being in there as coach

yep:

miners move first

silver denom in pound, krona lead historically

going into most weekends historically set up "pretty" : precious ugly, Ts ugly, copper & equities hopeful

. .. till one fateful Sunday night in early Asian news

Fri, 03/28/2014 - 10:04 | 4602291 TeamDepends
TeamDepends's picture

Yes!!!!  (does a little happy jig around the room)

Fri, 03/28/2014 - 09:31 | 4602186 eclectic syncretist
eclectic syncretist's picture

Because it's only bits of paper and cybernumbers and they can.  The lust for power can make people do some stupid shit.

PS - JPM has been buying PMs lately.  5 tonnes of gold delivered to the vaults just yesterday.

Fri, 03/28/2014 - 08:59 | 4602072 negative rates
negative rates's picture

It really was the 5 guys and fries that put them over the top.

Fri, 03/28/2014 - 09:22 | 4602157 BandGap
BandGap's picture

Fonz, you're losing it. The real Fonz never lost it, even surfing over the shark.

Accept the current unreal reality. Let it wash over you. Watch, listen and learn. It is no use fighting the rip tide, but swimming parallel and waiting for it to pass will save you.

Peace.

Fri, 03/28/2014 - 09:41 | 4602213 fonzannoon
fonzannoon's picture

Bandgap I think you are speaking to Tyler and not me. I am just repeating the narrative on here. I own gold and just continue to btfds until further notice.

Fri, 03/28/2014 - 10:35 | 4602350 ParkAveFlasher
ParkAveFlasher's picture

When I'm old, I'll have one heavy cane.

Fri, 03/28/2014 - 08:34 | 4602004 I am more equal...
I am more equal than others's picture

 

 

K-Mart shoppers, we have a blue light special on gold.  Please run in an orderly manner to the back door.

Fri, 03/28/2014 - 09:10 | 4602111 sodbuster
sodbuster's picture

I hope it goes down more- got a bunch of FRN's I would like to dipose of. Any time they will give you gold for paper is a good deal.

Fri, 03/28/2014 - 08:35 | 4602006 Croesus
Croesus's picture

If Gold wasn't that important...TPTB wouldn't spend so much time and money "proving it"; THAT ALONE, should be enough to tell you where you SHOULD be investing your hard-earned "currency units". 

 

Fri, 03/28/2014 - 09:25 | 4602170 Mr. Magoo
Mr. Magoo's picture

If Gold wasn't that important they wouldn't have robbed it from Iraq, Libya and most recently Ukraine

Fri, 03/28/2014 - 10:41 | 4602425 markar
markar's picture

Not onlly that, it's the first thing they rob

Fri, 03/28/2014 - 10:18 | 4602340 Crash Overide
Crash Overide's picture

$100 in 7 days or was it 7 countries in 5 years?
I keep getting my cartel agendas mixed up...

Fri, 03/28/2014 - 08:32 | 4601990 Rakshas
Rakshas's picture

WOO HOO GOLD SMASH FRIDAY !!!!

 

I LOVE GOLD SMASH FRIDAY !!!!!!

I LOVES ME A GOLD SALE THANKS ASSHOLES KEEP EM COMING!!!!

 

 

Fri, 03/28/2014 - 08:38 | 4602007 GetZeeGold
GetZeeGold's picture

 

 

A couple more times and I'll be able to afford the new Affordable Healthcare.....you might know it as Obamacare......hope they have the hacker problems solved by then.

 

Twenty-twenty-twenty four hours to go.....I want to be extended!!!

http://www.youtube.com/watch?v=N-EKcjpEIGo

Fri, 03/28/2014 - 08:41 | 4602030 Rakshas
Rakshas's picture

No idea where home is for you but there are some decent places here in SEA, Malaysia/Singapore is alright lots of expats from all over the world and lots just across the Malay border some pretty decent housing for reasonable prices; health care is pay to play but for me is gobs cheaper than anything I've seen in the US. 

I'm even thinking of getting that Politican removed from  my ass......... Can't do that under Obuma-care 

Fri, 03/28/2014 - 09:02 | 4602083 negative rates
negative rates's picture

Cut me, i'll feel better in the morning.

Fri, 03/28/2014 - 09:00 | 4602078 greatbeard
greatbeard's picture

>> I LOVES ME A GOLD SALE

I'm so fucking sick of hearing that god damned nonsense on here I could just puke.  Does Turd know you're over here?

Fri, 03/28/2014 - 09:08 | 4602095 GetZeeGold
GetZeeGold's picture

 

 

Good thing you weren't around over a decade ago. Gold was up a dime one day....then down a dime the next. You'd be a blithering mess by now.

I just feel fortunate to have made it out of there with just a mild case of insanity.

Fri, 03/28/2014 - 09:14 | 4602122 Rakshas
Rakshas's picture

Turd..... where's Turd... Turd's comming... oh shit I need to take a shower...... 

TURD'S COMING TURD'S COMING!!!  THANKS MAN I LOVE YOU !!

TURD'S COMING!!!!

 

Oh shit sorry man I haven't been that excited for a long time, are you sure Turd's coming by?? Anyway i share your pain but I get paid in USD so I'm sure you can see the reason for my angst, paid in USD, YELLEN running the presses, Obamba being Obamba, Kerry might open his mouth at any moment - the risks are too great gotta dump the paper for something real....... sorry if that gives you gas... 

Fri, 03/28/2014 - 09:18 | 4602138 Chump
Chump's picture

What's the problem?  I'm sure any dealer would let you pay more for your gold and silver if you asked nicely.

Fri, 03/28/2014 - 08:32 | 4601994 NoDebt
NoDebt's picture

I was OK with this when smashing gold resulted in higher stawk prices.  But this whole "everything goes down" thing we've had going on lately..... nah, this isn't working for me.

 

Fri, 03/28/2014 - 08:36 | 4602013 Rakshas
Rakshas's picture

Bloated stocks for gold on sale ...... sounds ok to me man.  Its kind of like exchanging rubber checks for real money ...... 

Fri, 03/28/2014 - 08:34 | 4602000 Serfs Up
Serfs Up's picture

Bankers overstaying their welcome and overplaying their hand...yet again.

Must be some sort of cultural amnesia

Fri, 03/28/2014 - 08:38 | 4602021 dontgoforit
dontgoforit's picture

They only have one gear - stuck in first.

Fri, 03/28/2014 - 08:44 | 4602039 SoilMyselfRotten
SoilMyselfRotten's picture

If one looks at the economy, reverse is the more likely gear.

Fri, 03/28/2014 - 10:04 | 4602294 RaceToTheBottom
RaceToTheBottom's picture

From the Banksters point of view,it is petal to the metal.   All the way over the cliff.

Fri, 03/28/2014 - 08:47 | 4602044 disabledvet
disabledvet's picture

or maybe amnesia period. scary if you think about it. "a loss of any and all recall and recognition for what happened for a unspecified and extended period of time."

different from being "knocked unconscious" of course.
we just "lose our memory" either way though.

we know time is real. so real in fact that we know it only exists in the abstract...existing only in our "make believe" world, our mind.

Can this knowledge be manipulated to set a "price"...a number, a "fiction for our fact-ion"? well, to do so you need to have very open and free communications...with a lot of oversight of said communication as well. a "bitcoin" for example.

I find it interesting that neither the President nor the President (Obama, Putin) have travelled to Kiev...the source of all this "knashing of teeth."

Sure looks like a competitive election to me.
"Winner take all"?

Fri, 03/28/2014 - 08:35 | 4602008 RealityCheque
RealityCheque's picture

Cheers you assholesisterfuckers.

It's been a while since I could pull the trigger so this sale has come at the perfect time.

Stack and forget. Daily bullshit is for traders and psychos.

Fri, 03/28/2014 - 08:48 | 4602046 toys for tits
toys for tits's picture

Being a bit redundant, eh?

Fri, 03/28/2014 - 08:35 | 4602010 buzzsaw99
buzzsaw99's picture

there is a disturbance in the farce

Fri, 03/28/2014 - 08:53 | 4602062 messymerry
messymerry's picture

May the farce be with you...

Fri, 03/28/2014 - 08:35 | 4602011 101 years and c...
101 years and counting's picture

this is how distribution is done.  melt up via hft and then dumping by the pros.  wash rinse repeat for 6th day in a row.  this is why tops are rounded.

Fri, 03/28/2014 - 08:36 | 4602014 hooligan2009
hooligan2009's picture

in 4 short weeks... it will be 4 long trillions

http://www.newyorkfed.org/markets/soma/sysopen_accholdings.html

Fri, 03/28/2014 - 08:40 | 4602028 LawsofPhysics
LawsofPhysics's picture

Yes, scary shit, but does anyone really know what the equivalent is at the people's bank of China?

We are fucked...

Fri, 03/28/2014 - 08:37 | 4602015 dontgoforit
dontgoforit's picture

The time is coming when QE becomes a useless waste - not even keeping the non-fundamentaled stawk market going....and then, when silver and gold collapse, head for the exits.  Be prepared.

Fri, 03/28/2014 - 08:37 | 4602017 Kina
Kina's picture

But stocks at twice their real value....or buy gold at half its real value....hmmm

Fri, 03/28/2014 - 08:40 | 4602020 Smegley Wanxalot
Smegley Wanxalot's picture

The concept of the USDJPY "surging" when it is fluctuating in a 1 US cent band is beyond me. 

WTF is going on here on with such nonsense - the most minor fucking fluctuation is now a trend of pending doom?  Did Al Gore buy ZH or something?

Fri, 03/28/2014 - 08:52 | 4602059 disabledvet
disabledvet's picture

and undoing...

and undoing...

and undoing...

Fri, 03/28/2014 - 08:39 | 4602024 Calculus99
Calculus99's picture

Be patient Gold bulls. Just keep taking advantage of any weakness to steadily increase you holdings with NO margin.

Strength and weakness are just part of the game. Right now it's weakness, so what?

Fri, 03/28/2014 - 08:41 | 4602031 LawsofPhysics
LawsofPhysics's picture

Don't get mad, just say "thank you", as silver goes on sale...

Fri, 03/28/2014 - 08:48 | 4602045 Platinum
Platinum's picture

That's my attitude. I'm waiting until the end of today before I decide how much to grab. I've been getting 10 oz bars lately.

Fri, 03/28/2014 - 10:41 | 4602413 fockewulf190
fockewulf190's picture

Although for me it´s the # of ounces that count rather than the fiat price, I know there are plenty of other stackers out there who hang on the fiat price everyday.  Reading "BTFD" can get real old, real fast, especially if your nerves are shot. 

Nonetheless, if you were buying phyzz when silver was over $40, now is a great time to dollar cost average your phyzz stack if you have some dry powder laying around. 

If you don´t, scrape up some shekals for some single-malt whiskey and turn the computer off.  Your just going to have to wait this bitch out. 

Fri, 03/28/2014 - 08:55 | 4602064 disabledvet
disabledvet's picture

"building a base around twenty bucks an ounce. and yes, that can be traded." we drowning in it apparently...

Fri, 03/28/2014 - 08:44 | 4602037 Kina
Kina's picture

They are reduced to frantically juggling more and more balls every day.

Fri, 03/28/2014 - 08:50 | 4602052 toys for tits
toys for tits's picture

Agreed.

They have half the American population's balls in the air ... now they are going for the world.

Fri, 03/28/2014 - 08:44 | 4602038 youngman
youngman's picture

If the candy crush IPO was worth 7 billion......then gold should be $5,000...IMHO

Fri, 03/28/2014 - 09:00 | 4602074 disabledvet
disabledvet's picture

very interesting comment.
"is an asset nothing more than what I can borrow against? Or is it in fact something you can borrow against and BELIEVE said paper based note can only go up in value"?

Fri, 03/28/2014 - 08:48 | 4602047 Bill of Rights
Bill of Rights's picture

Obamacare Navigators Helping People Enroll At Mexican Consulates

http://www.breitbart.com/Big-Government/2014/03/27/Obamacare-Navigators-...

Fri, 03/28/2014 - 08:53 | 4602056 GetZeeGold
GetZeeGold's picture

 

 

Dammit.....those poor Mexicans are about to be robbed blind!

 

You know those Navigators have every one of their fake SS numbers.

Fri, 03/28/2014 - 08:52 | 4602057 Son of Captain Nemo
Son of Captain Nemo's picture

But of course!... 

What else were we expecting in Rick Santelli's (Down is up... Left is Right... Buy the dip...) bizarro market paradigm? 

Might as well have the markets broaddcasting that most important of Orwellian fundamental speak that the "War is Peace" model will continue to provide green shoots to the economy in the U.S. and EU otherwise known as the United States of Oceania as long as we maintain that status quo!

Wonder if DOW and S&P will reach the 20K and 2K respectively when they proudly announce that the U.S. Congress has officially declared WWIII because of another attack against one of it's own!

Fri, 03/28/2014 - 08:58 | 4602069 PontifexMaximus
PontifexMaximus's picture

stocks will behave, do not worry, march 31st is looming... paychecks will be written!

Fri, 03/28/2014 - 08:58 | 4602071 jmcadg
jmcadg's picture

This past week or so, I've had my arse handed to me on a plate, my face ripped off and now someone is using my eye balls as click clacks.

Note to self: stick to physical you twat :(

Fri, 03/28/2014 - 09:00 | 4602077 Cult of Criminality
Cult of Criminality's picture

One thing leads to another...Yep

Setting our own 'fixx this morning
Cheers

http://www.youtube.com/watch?v=pIe-Cj071l0

Fri, 03/28/2014 - 09:02 | 4602084 mingkim
mingkim's picture

Mutherfuckers. Shoot them.

Fri, 03/28/2014 - 09:02 | 4602085 Hongcha
Hongcha's picture

Also to hinder nations that value the metal and want to trade it for commodities among themselves.

Fri, 03/28/2014 - 09:05 | 4602092 astoriajoe
astoriajoe's picture

Funny thing is, when you smash gold, it still weighs the same, so it can just be melted and recast.

Fri, 03/28/2014 - 09:05 | 4602094 disabledvet
disabledvet's picture

we know it's some type of inflation. It feels like an "embargo" of sorts though, access to goods is being denied "via price."

that would include food and energy it would appear.
"Enter Ukraine."

Fri, 03/28/2014 - 09:06 | 4602098 konputa
konputa's picture

A 5 pip move on the yen? Over a 30 minute period? Are you fucking kidding me?

 

I miss the old zerohedge.

Fri, 03/28/2014 - 09:30 | 4602181 DYS
DYS's picture

I liked it better when I didn't understand all the comments.   People were really in to finance and investing.   They really understood how the market works.   This site is now just a bunch of comedians.

Fri, 03/28/2014 - 09:36 | 4602198 TideFighter
TideFighter's picture

There are retail traders left? Don't think so, DYS. Commenters are former traders (many of them) waiting for something....but it won't be fair markets, ever again. Humor trumps the tears. Enjoy the humore.

Fri, 03/28/2014 - 10:14 | 4602328 BeetleBailey
BeetleBailey's picture

Hey...we can be funny AND understand what's going on.

It's a rigged casino market. You must trade the lie dude.Stawks?

It IS funny. Asinine. Ridiculous. Detached from reality. But that's today's Denial Market.

I'm a pro FX trader. Lovely volatility for me and my clients....

By the way....Nutri-System...just a thought

Fri, 03/28/2014 - 09:30 | 4602183 1stepcloser
1stepcloser's picture

Do you complain when your car insurance goes down? No! So don't complain when wealth insurance goes down either. Increase your policy value.

Fri, 03/28/2014 - 10:13 | 4602326 TalkToLind
TalkToLind's picture

+1295!

Fri, 03/28/2014 - 09:56 | 4602270 Cashboy
Cashboy's picture

I think this fall in the gold proce is people havinf to sell gold to close their share positions for the quarter and cover the losses.

I have noticed this at the end ofseveral quarters over the last 3 years.

Fri, 03/28/2014 - 09:58 | 4602276 Lewshine
Lewshine's picture

The precious metals smash is nothing compared to the 100 points painted on the tape of the Dow, or the 15 points to the SPX that can and does happen at any moment WITHOUT reason or cause...When ever they feel it is needed. There is absolutely no validity to a synthetic market, that those profiting from it, break their own backs to ignore or justify with fundamental stock talk. We are all being slowly hypnotized with this fraud. They are trying to turn us all into little Jim Cramer's. Bantering, mindless cheerleaders of the greatest fraud of all time.

Fri, 03/28/2014 - 10:34 | 4602407 Fast Twitch
Fast Twitch's picture

By Warren Buffet's own definition, Bershire Hathaway stock is actually the biggest and most expensive "Barbarous Relic" of them all. It just sits there AND It doesn't pay a dividend either...

Bullshitter

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