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.
There.
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

Stuart:

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?

Cheers

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

Here you go:

JAMES DINES PREDICTED THE TOP IN SILVER AND TO SELL (interview May 7, 2011)

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/5/7_James_...

 

 

 

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:

...no 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...
LOL

http://online.wsj.com/news/articles/SB1000142405270230443110457955487210...

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

PHUCK YOU WALL STREET JOURNAL YOU PHUCKING PANSIES!

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.

 

http://finviz.com/futures_charts.ashx?t=SI&p=d1

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."

 

http://www.thewarningsecondcoming.com/new-world-order-plan-to-control-yo...

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.

Do NOT follow this link or you will be banned from the site!