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The Sunday Gold Smackdown: East Ukraine Independence Edition

Tyler Durden's picture


...because there's no better time (or fiduciarily dutiful moment) than a Sunday night at 650pm ET after the majority of Eastern Ukraine votes to secede to Russia to sell $231.5 million notional worth of gold futures...



And in case you were wondering... no other asset classes reacted in any way like this...


Charts: Bloomberg


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Sun, 05/11/2014 - 19:36 | 4749198 Ignatius
Ignatius's picture

Thank God there are no conspiracies.

Sun, 05/11/2014 - 19:42 | 4749221 knukles
knukles's picture

Yeah, because if there were, then markets could be manipulated and all sorts a bad shit like that could happen.
Make people stop thinking there are conspiracies.
All set.


And now back to our regularly scheduled programming, the Mysterious Alien Abduction of MY 370 with Wolf Blitzer and Anderson Cooper, standing in for Ronan Farrow....

Sun, 05/11/2014 - 19:42 | 4749224 Squid-puppets a...
Squid-puppets a-go-go's picture

Look! Bloke in a dress wins Eurovision!

Sun, 05/11/2014 - 19:44 | 4749235 Keyser
Keyser's picture

Good thing gold is just an ancient relic and has no intrinsic value... 


Sun, 05/11/2014 - 19:51 | 4749267 Pinto Currency
Pinto Currency's picture


This is not gold trading.

They are trading primarily unbacked virtual gold instruments to set the price of physical gold.

It is a farce.

Sun, 05/11/2014 - 20:00 | 4749291 synergize
synergize's picture

Sounds good to me - I wanted to buy some more monday morning and now i'll get a chance at a lower price.  Thanks US Government Dollar Defending Manipulators!

Sun, 05/11/2014 - 20:12 | 4749310 BigJim
BigJim's picture

I just went to King World News! Apparently it's all JUST ABOUT TO KICK OFF!!!! LOOK!!!!
Sprott - It Is Possible That We Will See $400 - $1,000 Silver
Today billionaire Eric Sprott spoke with King World News about whether or not it is possible to see the price of silver reach the astonishing levels of between $400 to $1,000 an ounce. The Canadian...

Maguire - Stunning Asian Gold Demand & A Surprise In Silver
Today London metals trader Andrew Maguire spoke with King World News about the stunning Asian gold demand and a huge surprise in the silver market. Below is what London metals trader Andrew Maguire...

Eric Sprott - West Dishoarding 4,000 Tons Of Gold Each Year
Today billionaire Eric Sprott shocked King World News when he said that the West was dishoarding a staggering 4,000 tons of gold each year out of Western central bank vaults. The Canadian billionaire...

Russia, Putin, The United States & The Frightening Endgame
Today an outspoken hedge fund manager out of Hong Kong spoke with King World News about Russia, Putin, the United States, and the frightening endgame. William Kaye, who 25 years ago worked for Goldman...

Underneath The Stock Market Hype The West Is Imploding
Today Canadian legend John Ing warned King World News that “Russia’s annexation of Crimea has laid bare the vulnerability of our financial system.” Ing, who has been in the business for 43 years, also...

America Is Headed For A Tragic Day Of Reckoning
Today one of the legends in the business warned King World News that the United States is “headed for a tragic day of reckoning.” Keith Barron, who consults with major companies around the world and...

This Is Only The Third Time This Has Happened In 35 Years
Today one of the legends in the business includes two fascinating guest commentaries discussing what is really happening in Ukraine, and something that has only happened three times in the last 35...

The thing is, as far as I can tell,  these headlines haven't changed in seven years! So it must be true.

Sun, 05/11/2014 - 20:13 | 4749329 DirkDiggler11
DirkDiggler11's picture

KWN is a trip. I will admit, those times when I want to shut off logical thoughts in my brain and just buy the S&P 500 and go long as opposed to continue my stackin' KWN is always around for a good pick me up.

If tKWN would drop the financial collapse in the next hour shit and just state their case as to why they pump long PM's they would actually build some credibility.

Sun, 05/11/2014 - 21:21 | 4749470 NeverForgetSilver
NeverForgetSilver's picture

I start to see how valuable KWN is. It is no longer investment it is a war. KWN keeps me focused. I shall increase my PM position untill the evil governments give up. Our governments are the ones who will bring the sheeple poverty, absolute ruin. I will try my best not being tricked into losing everything.  

KWN, thank you for waking me up

Sun, 05/11/2014 - 22:36 | 4749681 flacon
flacon's picture

While KWN will eventually be proven correct, the sad truth is that KWN didn't see the HUGE drop in the metals coming. As far as I know, it was only James Dines who tipped off his insider people to SELL SILVER in the upper $40's a day or two before the fateful day when silver crashed on a Sunday night. 

Sun, 05/11/2014 - 22:50 | 4749711 freedom5000
freedom5000's picture

what the king reports is true, just who can know when? It will be like a theif on the night.

Sun, 05/11/2014 - 23:18 | 4749754 Stuart
Stuart's picture

"This is not gold trading.

They are trading primarily unbacked virtual gold instruments to set the price of physical gold.

It is a farce."


But Execs of gold miners blindly follow this price like beaten down subservient losers.  They need to collecctively say FU to this criminal circus.  Our price is $500 higher or go phuck yourselves. 

Mon, 05/12/2014 - 01:38 | 4749948 Mistress Raindrop
Mistress Raindrop's picture

Gold is so much more important than blood and human life.  That's why I'm invested in nuclear and biological weapons

Mon, 05/12/2014 - 04:20 | 4750074 Doña K
Doña K's picture

I still believe that those responsible for the drop make money by going through all the stops and then buying on the way up as well. These sweeps can be very profitable given you have unlimited resources.

The other thing it does is scares longs to stay overnight with a position.

I AM STAYING OUT OF ALL MARKETS. Except physical PM's. I sleep well  

Mon, 05/12/2014 - 07:20 | 4750199 Tabarnaque
Tabarnaque's picture


Barrick Gold's new CEO is an ex high level Goldman Sachs executive. The ugly untold truth is that a lot of mining cies are "owned and controled" by the bullion banks. And the cartel uses them is several ways to manipulate the price of PM's. The Banking Cartel has a vertical control of the entire PM business; mining, Comex future trading, LBMA, wholesale, official minting, refining, etc.

Mon, 05/12/2014 - 11:03 | 4750780 Lord Koos
Lord Koos's picture

But only in the west...

Sun, 05/11/2014 - 23:19 | 4749756 UrbanMiner
UrbanMiner's picture

Dines made that call? I'm sure he wouldn't mind you providing a snippet of now very old material, I'm curious, can you provide the call?


Mon, 05/12/2014 - 08:38 | 4750325 flacon
flacon's picture

Here you go:





Sun, 05/11/2014 - 23:36 | 4749789 HardAssets
HardAssets's picture

The secret to getting a prediction right is to make Lots of them.

And then forget to mention the ones you got wrong.

That goes for anyone who claims they can predict the future.

Mon, 05/12/2014 - 07:22 | 4750205 Tabarnaque
Tabarnaque's picture

I predict the futur is coming soon.  

Sun, 05/11/2014 - 23:08 | 4749739 HardAssets
HardAssets's picture

Anybody in the PM game already knows why they smack down prices.

Anybody with any experience in markets can recognize perfectly timed 'waterfalls' before various national & global events, ain't really a market.

This has gone on longer and in a more blatant fashion that most of us would have imagined 5 years ago.

No one has a crystal ball including KWN.

Is that really a surprise to anyone ?

P.S. - I dumped all newsletter/online subscriptions except Jim Willie & Turd. I kept them because I like their style, not because I think they can predict tomorrow or next month. - - This is beyond 'economics' or finance. Its really about criminology now.

Mon, 05/12/2014 - 01:51 | 4749970 Lore
Lore's picture

It took me a few years to deprogram, but now I see mainstream business news coverage for the sham it is.  Certain commentators stand out as excellent candidates for Blackwater target practice. 

Sun, 05/11/2014 - 20:13 | 4749330 Manthong
Manthong's picture

The finance version of noise canceling headphones.

Sun, 05/11/2014 - 21:22 | 4749442 NeverForgetSilver
NeverForgetSilver's picture

King is the rare one who is telling you what is going on. It is your government who screws you. Make sure to think straight.  They may be optimistic but they are our conscience. When the world is dark, you should feel grateful there is a weak little light which let you see something instead of blaming it not able to light up the universe. Be thankful my friend. 

Mon, 05/12/2014 - 05:11 | 4750097 Squid-puppets a...
Squid-puppets a-go-go's picture

i am grateful for KWN, they bolster my spirits and just occasionally give a little bit of new info for me. But you gotta admit, Eric has no penchant for balance and thus he will never get his timing right.

OK, example

King always bangs on about how the minute there is a failure to deliver, gold prices will go through the roof.

No they wont. The failure to deliver will always be a 'stretched timeline' - just like paper claims to phyz went from 20 to 1 to 30, 50, now 110 to 1.   When they run out, they will rehypothecate delivery timeframes - 3 months, 4 months, 5 months - each with MSM bullshit covering it up or spruiking how 'temporary' it will be with anticipated demand drops to come

so once again, the price will elevate, but not skyrocket.

Im not saying gold will never skyrocket - there are other catalysts for that (russia demanding gold for gas, for example. Deliberate reset could be another)

Mon, 05/12/2014 - 11:06 | 4750801 Lord Koos
Lord Koos's picture

There has already been a failure to deliver gold, just ask Germany.  This is in essense a default, but the sky is not yet falling.  It's unfortunate that Germany doesn't press the issue, but then the leaders of their government is captured too.

Sun, 05/11/2014 - 20:07 | 4749316 cifo
cifo's picture

Sell $231.5 million paper gold. But it back 5 minutes later for $230 million. This is faster way to make money than the NYC guy selling his $31 million dollar condo next day for $41 million.


Sun, 05/11/2014 - 20:33 | 4749386 eddiebe
eddiebe's picture

I doubt that the 'riggers' even care if they loose 'money'. after all they have access to the printing press, and equivalents.

Sun, 05/11/2014 - 21:03 | 4749464 JackT
JackT's picture

Wouldn't the easier way just be to leak the sales slowly rather than in one intense dump?

Do these guys print their own paper gold?

Sun, 05/11/2014 - 22:42 | 4749695 bonin006
bonin006's picture

That is the attraction of paper financial instruments. You don't have to own something to sell it. The short position is created when you sell a promise to sell something for real at a latter date (but the promise can be paid off by buying it back for cash). So - there is really no downside for someone who can print money (fiat).

Sun, 05/11/2014 - 19:45 | 4749238 knukles
knukles's picture

Wow!  Now wouldja lookit that!  Say, I'll betcha he used to work for the SEC....

Sun, 05/11/2014 - 19:44 | 4749236 maskone909
maskone909's picture

Just for shits and gig's i will flip to cnn
... Yep still relentless coverage of the #370 saga
Should change their name to the comedy channel

Sun, 05/11/2014 - 19:48 | 4749250 RockyRacoon
RockyRacoon's picture

Um, right: other asset classes reacted in any way like this...

That's because no other asset class IS like this.

This is GOLD, dude!

The fact that the gold "price" is behaving this way (being beaten into submission) is the real tell, not what nominal dollar "value" it may be at any given moment.

Sun, 05/11/2014 - 19:50 | 4749260 knukles
knukles's picture

Rocky....  You'll get a kick outa this...
WSJ berates Timmah's new book about Timmah...

Sun, 05/11/2014 - 19:56 | 4749285 disabledvet
disabledvet's picture


Mon, 05/12/2014 - 06:29 | 4750151 fockewulf190
fockewulf190's picture

Didn't silver also get piledriven as well?

Mon, 05/12/2014 - 08:36 | 4750318 El Hosel
El Hosel's picture

Yes.... Last Year, Silver has been piledriven into a large flat base around $19. Tickets are cheap.

Sun, 05/11/2014 - 20:23 | 4749356 RockyRacoon
RockyRacoon's picture

My 2-cents is on Neil Barofsky.  Ole Neil is not a man to trifle with!

Sun, 05/11/2014 - 20:36 | 4749392 sleigher
sleigher's picture

Who has the gold makes the rules.

Sun, 05/11/2014 - 19:44 | 4749230 Bindar Dundat
Bindar Dundat's picture

China/Russia keeping the price down?????

Sun, 05/11/2014 - 19:52 | 4749275 Greenskeeper_Carl
Greenskeeper_Carl's picture

All I can think of to say is thank you. I am going to make a above average sized(for me) purchase, and was trying to decide the best time to do it, preferably after a fresh monkey-hammering. I was kinda thinking Friday would be good, since gold isn't typically allowed to close green going into a weekend, at least when I'm watching. But ill knock that out tomorrow. If stocks could hit another record high, that would be nice too. Have fun while you still can, you fuckers.

Mon, 05/12/2014 - 01:10 | 4749904 Kirk2NCC1701
Kirk2NCC1701's picture

The only way this is relevant to any of us, is that Paper Chase allows us to buy low and hold.

Mon, 05/12/2014 - 01:33 | 4749939 hobopants
hobopants's picture

Pretty much...but these reminders help as well as the occasional cheerleading article. It can get mighty lonely stacking metal in a paper world, folks thinks you's crazy and enough folks think that...well you start to think it yurself! I tell ya...

This Blog helps as well, if I'm nuts at least I have entertaining company.

Mon, 05/12/2014 - 04:53 | 4750089 Remnant_Army
Remnant_Army's picture

Sunday, April 17th, 2011


"Some of their cunning schemes are already being revealed yet many people believe that the world is simply going through yet another financial crisis. Wake up all of you – now. Look around you and see for yourselves. Stop trying to imply that the world is simply in the throes of a depression, caused by a slump in the economy, because this is not true. These people will now control each of you through a global currency and your country’s indebtedness. No country will escape their clutches. Please heed My Word. Your money will be worthless. Your access to food and other necessities will only be possible through “the mark”, the identification I spoke about."

Sun, 05/11/2014 - 19:36 | 4749202 AUD
AUD's picture

Gold futures are an entirely speculative venture that bears no relation to geopolitical or even economic events. You don't pile into futures to avoid economic catastrophe.

Sun, 05/11/2014 - 19:43 | 4749227 THX 1178
THX 1178's picture

unless you buy from major online retal outlets. or in person from wherever. In which case you would want to smack the price down before you buy the phyzz.

Sun, 05/11/2014 - 19:45 | 4749241 Bindar Dundat
Bindar Dundat's picture

And that you  know you will be forced to deliver with paper...

Sun, 05/11/2014 - 19:50 | 4749262 THX 1178
THX 1178's picture

Yes. It is only a matter of time.

Sun, 05/11/2014 - 20:00 | 4749297 disabledvet
disabledvet's picture

Went to "Maverick" to buy a gallon of milk.

Four friggin bucks.

Went to Wal Mart where it cost 2 bucks and now I'm persona non grata.

Pardon me for being an economist. A MIGHT pissed off one I might add.

I mean "hey, assholes...we had a gold standard once in this country."

Sun, 05/11/2014 - 19:49 | 4749258 AUD
AUD's picture

People with the finances to move the gold price do not buy from major online retail outlets.

Sun, 05/11/2014 - 19:50 | 4749264 knukles
knukles's picture

Oh, so now I'm a fucking odd lot retail piker, eh?

Sun, 05/11/2014 - 20:00 | 4749296 AUD
AUD's picture

A Zero Hedge 'contributer' has the finances to move the gold price?

Fuck off

Sun, 05/11/2014 - 19:53 | 4749280 THX 1178
THX 1178's picture

well if they want phyzz then they ain't getting from a bank...

Sun, 05/11/2014 - 19:58 | 4749288 AUD
AUD's picture

A bank is exactly where they get it.

Sun, 05/11/2014 - 20:25 | 4749363 THX 1178
THX 1178's picture

A bank that has gold? get out of town...

Sun, 05/11/2014 - 20:23 | 4749357 Kreditanstalt
Kreditanstalt's picture

This tactic can only work as long as they can still convince some entity, somewhere, to part with real, physical metal - at these ridiculous "gold prices".  Must be getting tough...

Sun, 05/11/2014 - 22:54 | 4749721 AUD
AUD's picture

True, but that's the way it presently is.

Sun, 05/11/2014 - 19:37 | 4749204 maskone909
maskone909's picture

I blame the gay nfl person

Sun, 05/11/2014 - 19:48 | 4749226 Smegley Wanxalot
Smegley Wanxalot's picture

You're probably right, but be prepared to be accused of being a gaycist.

Gaycism ... rears its ugly (dick)head at the most inopportube times.

Sun, 05/11/2014 - 20:03 | 4749302 disabledvet
disabledvet's picture

Now I have to worry about that too?

What can I say? Or is the best I aspire to is the happy face killer here?

Sun, 05/11/2014 - 19:43 | 4749229 knukles
knukles's picture

Oh and so the EuroVision bearded tranny singer gets off Scott free?

Sun, 05/11/2014 - 19:38 | 4749206 BurningFuld
BurningFuld's picture

Caus' Gold has no where to go but up! 


Did I push the wrong button?

Sun, 05/11/2014 - 19:39 | 4749211 jubber
jubber's picture

"And in case you were wondering... no other asset classes reacted in any way like this..."


Well Siver certainly did, as i got stopped out of that as well as my Gold !


Sun, 05/11/2014 - 19:40 | 4749213 ebworthen
ebworthen's picture

Futures...fucking paper!

Sun, 05/11/2014 - 19:40 | 4749214 BeanusCountus
BeanusCountus's picture

Why dont we just get a bunch of people together to do the opposite? It would only take 20 billion, levered up to 200 billion. Bingo!

Sun, 05/11/2014 - 19:40 | 4749216 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yep!  It was Sunday night May 1, 2011 when Osama died "again" and Silver was just shy of $50.  The rest is history!



Sun, 05/11/2014 - 19:49 | 4749255 Cacete de Ouro
Cacete de Ouro's picture

Those silver fixers in London are really screwed now. Deutsche Bank is gone and no way are 2 guys in Scotia and HSBC goin to be able to convince the market that they're not riggin silver

Sun, 05/11/2014 - 19:52 | 4749278 knukles
knukles's picture

And just about the time Osama died again for the 7th time, the Big Bad Bear of the Soviet Union Once Again Comes Tromping Back Into Our Lives.

Anybody else but me see a pattern here?

Sun, 05/11/2014 - 19:59 | 4749292 BigJim
BigJim's picture

That evil doesn't sleep in its attempts to wrestle the Godly American Republic to the ground? Huh? Huh?

Sun, 05/11/2014 - 20:35 | 4749390 Greenskeeper_Carl
Greenskeeper_Carl's picture

Ya when it goes from 3 people down to 2, it really loses a lot of credibility...

Sun, 05/11/2014 - 19:41 | 4749218 ultimate warrior
ultimate warrior's picture

1280 support is like a trampoline. Even it it breaks through that I don't see gold breaking 1180.

Keep stacking.

Sun, 05/11/2014 - 19:45 | 4749242 Squid-puppets a...
Squid-puppets a-go-go's picture

there's a mountain of bids waiting to pounce on any sub 1280 break

Sun, 05/11/2014 - 19:41 | 4749219 Hal n back
Hal n back's picture

its only 178,000 ounces of gold. a mere 5.5 tons.

Sun, 05/11/2014 - 19:54 | 4749281 ebworthen
ebworthen's picture

No physical involved.

If someone asked for delivery they wouldn't get it.

It's all a part of the paper Ponzi.

Sun, 05/11/2014 - 20:00 | 4749295 Greenskeeper_Carl
Greenskeeper_Carl's picture

Ya that's spare change for me too, I was getting rid of my old couch, and when we turned it on its side to for through the door, guess what fell out? Needless to say, I sold it all, all at once, cuz who care about trying to get the best price, and put the proceeds into a triple leveraged long S&P fund.

Sun, 05/11/2014 - 19:42 | 4749223 Bárðarbunga
Bárðarbunga's picture

I was not aware of this. I better open my safe and check to see if my gold has gone down too.

Sun, 05/11/2014 - 19:42 | 4749225 OC Sure
OC Sure's picture

Maybe "they" just see the dxy going toward 85 instead of 75?

Sun, 05/11/2014 - 19:46 | 4749245 Cacete de Ouro
Cacete de Ouro's picture

Looks like Mikael Charoze at the BIS in Hong Kong got out of bed on the wrong side this morning

Sun, 05/11/2014 - 19:49 | 4749252 FieldingMellish
FieldingMellish's picture

Such unriggedness...

Sun, 05/11/2014 - 20:05 | 4749309 disabledvet
disabledvet's picture

"Paper covers rock." Never thought I'd see the day actually.

Real gold is very soft actually.

And VERY heavy.

Sun, 05/11/2014 - 19:49 | 4749253 Schmuck Raker
Schmuck Raker's picture

Sell futures, buy physical.

Simple, if you can get away with it....

Sun, 05/11/2014 - 19:52 | 4749274 THX 1178
THX 1178's picture

What is this backwardation or sumthin!?!?!?

Sun, 05/11/2014 - 19:49 | 4749254 Dr. Engali
Dr. Engali's picture

Nothing to see here.... Cartel business as usual. Move along.... Move along.

Sun, 05/11/2014 - 19:51 | 4749265 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

I take it Blackwater ain't accepting IMF middleman funds denominated in hyrvnia unless it is backed by gold colateral.

Sun, 05/11/2014 - 20:07 | 4749270 QE49er
QE49er's picture

What reason is there for the prices of paper Gold & Silver to go up?

Answer: None, Not 17.5 trillion in debt, not QE infinity, Not inflation going up every where you turn, not record physical buillion sales, not GDP in the toilet, not a global recession.  Nothing.  Keep buying physical until this whole rigged game ends.

Sun, 05/11/2014 - 19:52 | 4749272 i_call_you_my_base
i_call_you_my_base's picture

That was me.

Sun, 05/11/2014 - 19:52 | 4749276 lasvegaspersona
lasvegaspersona's picture

repeat after me: who would buy paper gold? Then say: physical is so small it does not effect the price.

See? It is not a 'gold smackdown'. It is a paper smackdown.

After all who in their right mind would continue to hold paper gold as the world crumbles?

Get some physical and wait this out.

Sun, 05/11/2014 - 23:24 | 4749764 Stuart
Stuart's picture

It is a gold smackdown if the pussyassed miners continue to abide by these rigged prices. 

Sun, 05/11/2014 - 19:55 | 4749283 Peter Pan
Peter Pan's picture

The Americans seem to be selling what they don't have. They "sell" democracy but do not have one. They sell gold futures but have no gold. They sell freedom but the buyers end up slaves to debt or the IMF. They sell technology but it's bugged. They sell government bonds but they are unbacked. 

AS a government it is a disgrace both in the eyes of its people and the world.

As a nation, it is to be pitied for having wasted its original inheritance.

Mon, 05/12/2014 - 00:04 | 4749838 wanderintheland
wanderintheland's picture

Well said.

Sun, 05/11/2014 - 19:58 | 4749289 navy62802
navy62802's picture

Fuck 'em. I'm buying!

Mon, 05/12/2014 - 02:51 | 4750029 Fred C Dobbs
Fred C Dobbs's picture

I am and always will be buying.

Sun, 05/11/2014 - 19:59 | 4749293 Peter Pan
Peter Pan's picture

When the dam breaks it will not be about what your dollar is worth but about how many oz of gold you have.

The dollar is just a price tag, it is not the real thing unless you care to believe in it.

Sun, 05/11/2014 - 20:03 | 4749301 Fix It Again Timmy
Fix It Again Timmy's picture

Just who are those fucking guys?.....


Sun, 05/11/2014 - 20:06 | 4749313 HaroldWang
HaroldWang's picture

Rally in US markets cuz we hate uncertainty. Or something like that.

Sun, 05/11/2014 - 20:12 | 4749318 Quinvarius
Quinvarius's picture

No one likes it when the gold longs are right again.  I guess it gets annoying enough to lash out emotionally.  If you want to know the future of your economy and politics, ask a gold long.  If you want to know the future of the gold price, don't ask a gold long.

Sun, 05/11/2014 - 20:13 | 4749327 Haole
Haole's picture

The only relevance I can find in this post is that it's a great title for a video game, which may not be far off the mark unfortunately...

Sun, 05/11/2014 - 20:17 | 4749338 Goldilocks
Goldilocks's picture

Red Hot Chili Peppers - Can't Stop (Offical Music Video) (4:37)

Foo Fighters - Learn To Fly (4:35)

Sun, 05/11/2014 - 20:17 | 4749339 GittyUP
GittyUP's picture

Gold won't bottom until there is carnage in the space. That won't happen until china lets up on the buying and gold plummets. Eft holders and all you gold bugs puke on themselves and sell. Gold drops 25% in a small time period to mid triple digits. Coincidently them gold finally drops below the long term inflation adjusted price and will finally be a buy. Check my posts over the last few years my calls gave been dead on. Good luck buying now suckers...

Sun, 05/11/2014 - 20:23 | 4749355 FieldingMellish
FieldingMellish's picture

Define: "inflation". I hope you don't mean CPI.

Sun, 05/11/2014 - 20:41 | 4749406 Quinvarius
Quinvarius's picture

Or, on the other hand, it just goes up to the midrange inflation adjusted price of 5900 this year.  Where it is now is the same as if it had gone under 300 in 2009.  It is all a matter of historical ratios.

Sun, 05/11/2014 - 22:57 | 4749723 SilverIsMoney
SilverIsMoney's picture

I dont diiscount paper Gold could retrace a full 50% like it did during the 70s bullrun but if you think there will be any physical at that level, for that price, good luck...


The only ones who should be waiting on prices are those with established stacks. If you have nothing and you havent been buying here youre setting yourself up for something fierce.

Sun, 05/11/2014 - 20:26 | 4749367 Kreditanstalt
Kreditanstalt's picture

The idea is to knock the "gold price" down early so as to set the trading tone at lower levels.

Everyone has has of course forgotten the reasons for $1400/oz. gold, let alone $1900.

By opening tomorrow the new day will start at this new, lower, level...$1280.  They'll have forgotten even $1289.

Sun, 05/11/2014 - 20:34 | 4749389 Freebird
Freebird's picture

Pastrami on rye would do nicely K

Mon, 05/12/2014 - 01:08 | 4749897 spine001
spine001's picture

This behavior is designed to exploit a cognitive bias we humams have called anchoring. That is why they anchor gold lower every Sunday night. 

For those who understand gold, they just have so many ounces of gold, the lower the selling price, the better since you can buy more of an old relic. Lol. Or, as Kramer says lol, if you like a stock, the cheaper it becomes the more you can buy. And physical can't go banrupt. It also is the best collateral you can possible have.

Sun, 05/11/2014 - 20:31 | 4749381 eddiebe
eddiebe's picture

So ok. the markets are rigged, the word is out and mostly accepted. The riggers are saying: What are you going to do about it?

Sun, 05/11/2014 - 22:59 | 4749726 SilverIsMoney
SilverIsMoney's picture

Ship all the gold East and make other markets for price setting...


There's a reason the CME is trying to step in now to "officially" control price. Inventories are still bleeding at the GLD because no one wants to play in a rigged game.

Sun, 05/11/2014 - 20:33 | 4749384 D-liverSil-ver
D-liverSil-ver's picture

So what would the over and under line for Gold be if WWIII broke out,  $700?  Maybe that's too high.

Sun, 05/11/2014 - 20:44 | 4749411 Personality Disorder
Personality Disorder's picture

Another fat thumb event?

Sun, 05/11/2014 - 20:46 | 4749416 Obama_4_Dictator
Obama_4_Dictator's picture

It ain't gonna last. Games about up.

Sun, 05/11/2014 - 20:47 | 4749419 Arrrr
Arrrr's picture

I'm not a futures guy, maybe someone who trades futures can answer this:
When the $231.5 million notional worth of futures changed hands, what were the contracts themselves worth? It seems to me that it's not costing these guys an arm and a leg to do this kind of manipulation.

Sun, 05/11/2014 - 21:10 | 4749454 Againstthelie
Againstthelie's picture

Currently initial margin is 7150 USD and maintenance margin 6500 USD. One contract is 100 ozs.

231,5M notional - let's use 1280 USD as price per oz - that makes 180.859 ozs or 1809 contracts of GCM4.

1809 x 7150 USD = 13M USD.


In my chart the volume in the 0:50 minute of the smackdown was 1818 contracts.

If it was a freshly opened short position and not a closed long, then this position right now is nicely under water.

If this was part of a central bank program to keep the sheeple calm despite the developments in Ukraine, at least one other smackdown would be necessary to take out 1280.

Sun, 05/11/2014 - 20:46 | 4749420 gdpetti
gdpetti's picture

Eric King:  “Andrew, when you look at the bids, how stacked are they in terms of the physical market?  Is there an area you don’t think they (the bullion banks) will penetrate to the downside (in the gold market)?”

Maguire:  “Yes.  I think the area the bullion banks would not want to enter is the 100-day moving average....

“These things are so obvious.  And you don’t think the physical buyers are smart enough to know that the target has been the 200-day moving average?  They did move in to buy significant quantities and are buying anything below that (level), which is around the $1,300 level.

And the 100-day moving average is around $1,285.  This is an area they (the bullion banks) have been avoiding all week.  It is an area where it would require an awful lot of synthetic supply to come in to offset what the bullion banks have to do to buy against these physical buyers.

And I (don’t) believe that structurally the managed-money category, which is approaching historically (large) short positions, would actually have enough ammunition to pull that off (taking gold below $1,285).”



Sun, 05/11/2014 - 21:41 | 4749554 Haole
Haole's picture

... and what a tremendous interview it was from the London Wistleblower...


You may as well listen to what the guy at the 7/11 says about the gold "market" considering how accurate any of the KWN "rotation" have been for years now, with the exception of Louise Yamada.

Mon, 05/12/2014 - 00:41 | 4749877 NeverForgetSilver
NeverForgetSilver's picture

Nobody canpredicts the future especially what JPM will do in the near future to rig the price. However, they uncover the truth. It is good enough. I am holding more and more gold and silver as savings and not playing the game the power that be wants me to. As for Louise Yamada, she told me nothing.

Mon, 05/12/2014 - 09:39 | 4750485 Haole
Haole's picture

Well then you've been distracted and haven't been listening because as hard as it is for people to admit things like this sometimes, her and Martin Armstrong have been uncannily accurate for the last few years to present unlike all these other stopped clocks being absolutely wrong.

Sun, 05/11/2014 - 20:49 | 4749426 Againstthelie
Againstthelie's picture

The smackdown appeared at 6:50 pm EST.

The desastrous Japanese data were released exactly one hour later at 7:50 pm.

Maybe the Japanese data release should have been the news to hide the manipulation. If a Mars satellite came down due to confusing metric and imperial units a time mismatch error is nothing impossible. The good thing: this time the manipulation is visible like a lighthouse.


Sun, 05/11/2014 - 21:00 | 4749451 Bemused Observer
Bemused Observer's picture

Gold "futures"? LOL!!!

"I'll gladly give you gold on Tuesday if you buy my 'futures' today..."...

Right...and neither will they.

If you aren't currently holding it IN YOUR HAND, it ain't 'yours'...

Sun, 05/11/2014 - 21:15 | 4749497 ray1268
ray1268's picture

            Tyler you see this happenening but refuse to give GATA the time of day or credit .                

Sun, 05/11/2014 - 23:01 | 4749735 SilverIsMoney
SilverIsMoney's picture

Yea what is with that?

Sun, 05/11/2014 - 21:23 | 4749516 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Well, I'm also glad to see that the NASDAQ e-mini 100 futures are already up the required .30 percent....although sometimes they get a little smack down to allow some BTFD'ing at the open. 

Sun, 05/11/2014 - 21:45 | 4749577 luckylogger
luckylogger's picture

All you guys screaming buy, buy, buy, hang on....... Have seen this movie before..... Put your order in at todays low minus a typical stop move down, the market will double check the prices. Almost always does.... Unless of course it doesn't................ Good luck all.

Sun, 05/11/2014 - 21:47 | 4749584 luckylogger
luckylogger's picture

BTW- it could take more than a day for it to happen, don't get excited about... Just put the order in GTC and forget about it. It will eventally fill and bounce. Then get out.

Sun, 05/11/2014 - 21:52 | 4749599 robertocarlos
robertocarlos's picture

You can only have so much weight in your carry-on luggage when flying and currency is lighter than gold. Currency for the win.

Mon, 05/12/2014 - 00:28 | 4749860 buyingsterling
buyingsterling's picture

Maybe $100 bills, but I doubt even that

Sun, 05/11/2014 - 22:10 | 4749634 q99x2
q99x2's picture


Sun, 05/11/2014 - 22:24 | 4749656 El Hosel
El Hosel's picture

"The Markets", Gold, Silver, and the Vix ....  All Primary Tools of the Fed now, they don't reflect any reality other than the corruption of our "Leadership". It makes sense that it makes no sense, why would it?

Sun, 05/11/2014 - 22:35 | 4749682 kw2012
kw2012's picture

That's fine with me. Gives me time to get physical gold before the collapse

Sun, 05/11/2014 - 22:48 | 4749706 highwaytoserfdom
highwaytoserfdom's picture


Mon, 05/12/2014 - 01:22 | 4749928 hangemhigh77
hangemhigh77's picture

I think I'll buy a bar so I can eat gold leaf on my Cheerios every morning.

Mon, 05/12/2014 - 02:02 | 4749985 JPMorgan
JPMorgan's picture

They are really starting to disappoint on the downside action.

Come on you fuckers you called $1050 now where is my buying opportunity? 

Mon, 05/12/2014 - 03:02 | 4750036 CHX
CHX's picture

Why worry? I've come to the conclusion that these "attacks" ARE likely hedges, or at least they very likely could be. We know the physical market is tight. We know that for many reasons the price of physical should be much higher (paper gold is traded ~100 times more often than physical... go figure) so there is just not enough phyzz out there to meet demand. I guess all big players know this, and any big player could end this paper charade in one single market-busting phyzz order (think 200+ of phyzz at current market prices). That's a chicken-sized 8.3 billion USD and the game would be up. This has not happened, since those that want phyzz, much of it, profit from the lower prices, so THEY ARE LIKELY RESPONSIBLE for lower prices. They don't want to bust their source, if they don't have enough yet, do they? Nor do they want a gold mania (esp. in the west now - when average Joe realizes what's wrong with the world it'll be too late), so they don't want a BTFATH mentality for gold in the west, since there is not enough... That'll be what'll drive price of gold to much higher levels, when general fear will kick in. Not there yet, so just BTFD and be happy, and yes uneducated gold bashers, just short short short gold you don't have. Go ahead'n make my day. 




Mon, 05/12/2014 - 03:12 | 4750041 elwind45
elwind45's picture

The gold market susqpects that PUTIN has a new baby to pay for since selling dolllars will be harder and more controlled than selling gold forward and much less profitable? The cost to maintain and/ or obtain treasures from the past are counted by dollars and not per oz. Of anything as substitute!

Mon, 05/12/2014 - 05:48 | 4750121 jubber
jubber's picture

Well Gold and Silver now moving the way you would have expected, after that ludicrous open, presently Gold 1295 Silver 1952....guess we wait for thenext smackdown...

Mon, 05/12/2014 - 06:09 | 4750140 jubber
jubber's picture

So Gold up Silver up Oil up Bond Yields up and all Futures up on the wonderful Ukraine news...makes sense

Mon, 05/12/2014 - 06:39 | 4750159 jubber
jubber's picture

DAX explodes 100 points to the upside, DOW hits hew record highs, market utterly crazy this morning

Mon, 05/12/2014 - 11:24 | 4750869 Lionhearted
Lionhearted's picture

Reality does not give a crap about the fake value of paper. The real value of gold is that which a miner is willing to part with his real gold. Currently that price is $1000.00 to $1200.00 an oz. Real gold in the end has a real hard price (cost of production). The paper pushers can play their games to gain more paper but in the end their paper will become worthless. My PM's will still weigh the same and have a real value based on the real COST of production. Reality will eventually win.

Really if you are trying to make a profit by buying gold with paper and selling the gold to get more paper I think you are missing the point. PM's are really a store of value. They are a hedge against people playing games with paper which always ends in the devaluation of currency. History has proved this over and over and over again all the way back to the Roman empire. Fiat money is a legal way to steal your wealth by constantly devaluing your currency. Eventually the people wake up to the crime.

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