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Gold Plunges Back Below $1300 As "Someone" Dumps $2.3 Billion In Futures
With The Fed proclaiming bubbles in some of the most-loved segments of the stock market and explaining that the economy is doing "ok" but they must remain dovish for longer for feasr of "false dawns"... what better time than now to dump $2.3 Billion notional in futures... of course the dump in gold's anti-status quo price coincided with an odd v-shaped recovery in stocks... Gold remains above its pre-June FOMC levels still.
The break was precipitated by the sale of over 17,000 contracts (or over $2.3 Billion notional)...
But for now gold remains above FOMC levels...
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Hmmm, $1.5 billion. Where have I heard that number before?
It's Easy To DUMP $2.3B Paper Fiats, When YOU Are The Printer...
is there anyone left out there who actually fails to see the rigging at this point? paid liars are one thing... but real people should all be able to see that the world is run by criminals by now. from that standpoint, these PM hammerings have useful events... shining a light on how the world is controlled from the shadows.
Another case of panic selling. This is one of the reasons financial advisors always recommend that you stay away from risky commodities, especially those without industrial utilizes like gold. Trading commodities is very difficult and takes years of experience and training to grasp. Personally, I'm happy to leave the commodities for professional traders at established firms such as JP Morgan, Goldman Sachs, Chevron and BP. Buy-and-hold equity investing is the only strategy that is proven to work over the long term.
Trying out for a slot on CNBC are we?
Hey, that's cool dude...
Just means I can stack moar...
they're givin' the peeps a gift.....but do ya think the peeps even know or will have a clue until its too late......hehehehe......no chance......watch the lines of peeps at the coin store when silver hits 70......heheheheheh they'll be out the door
That is if the coin dealers are still allowed to operate. Fellow serfs I give you our government's Operation Chokepoint.
http://www.thenewamerican.com/usnews/congress/item/18537-rand-paul-protects-guns-ammo-from-obama-s-operation-choke-point
Crooked banks with the Fed as a client.
Gee, I wonder why there are no margin hikes anymore.
The Hunt brothers did the same in reverse with silver except they did it legally and had the money good collateral and the physical to back everything up.
Of course, they were swindled out of their legitimate cornering of the market by the Crimex and the Fed.
From the article:
"FDIC has labeled around 30 industries, including gun and ammunition dealers, as “high-risk.” Coin dealing, payday lending, and adult entertainment are also considered “high-risk.”
Coin dealing and guns thrown in with adult enterainment and payloans. From an agency that does have enough to cover the the bank accounts it's supposed to cover. The FDIC is high risk.
Actually, the CME Group lowered margins last Friday.
No need for high margins when the client can print all the Benjamins in the world.
That's just not possible. Jim Sinclair and King World News said so.
who has 2,300,000,000$ to plunk down on one trade like its nothing?
talk about manipulation.
So glad we have this one unrigged market, because they might rig forex and LIBOR and even the SPY, but they sure as hell don't mess with gold. It's the one place to be.
And just when john39 mentiones paid liars, up comes MDB. Now what could that mean?
Troll zombie moron
Accredited Performance Artist
http://accredited-times.com/author/milliondollarbonus/
That's some funny shit there. It's like a very dry version of The Onion.
Got to get those shorts cleared before, to da moon
Btw, drops like these mean nothing, other than to make phyzz cheaper. But a 50 cent drop is comical compared to the jumps we'll see next year
"especially those without industrial utilizes like gold"
Are you mentally retarded, or are you just really good at acting like you are?
http://geology.com/minerals/gold/uses-of-gold.shtml
I don't have time to read random links from the internet. Gold is used to make Jewelry, and that's about it. Unfortunately jewelry demand has been falling like a rock in recent years.
But you have time to troll down and try and refute his link?
Oh, and the computer you typed you trollish response has how much gold in it?
DaddyO
I see your gold manipulation and raise you a new thick stacking opportunity. Go buy your lady a nice tennis bracelet. It's on sale.
Rerally - jewellry demand has been falling.
Oh, gosh, someone tell all of the folks in India and China that their buying has not been factored into your lofty pronouncements of market saavy.
That million dollar bonus is fucking light years away from your grasp at this point.
Even Jim Kramer is a better financial seer than you, Bonus Dawg.
Milliondollar...without people like you, there wouldn't be these wonderful discount prices, and I wouldn't be able to accumulate as much. Thank you brother!
Do you detail cars, or clean windows? I'll return the favor and offer you a job someday.
ROFLMAO
I missed you
Thumbs up for top grade trolling
Silver For The People
AHH HAAH HAAH HAA HAA HA HA HA.
The only one better at sarcasm you believe in yourself - is Sarah Palin.
You two would be great together - i know some people, so I'll see what I can do to get your sorry airbrushed ass on network TV with moose meat mom.
See you when 2000 becomes the new 17000 topper bull market in paper shite.
Meelion Dollar Boner - the new market tell "hard" at work.
What's next for sheeple predictions as Rome burns - paper to to 25000 ?
mdb_ is either an idiot, a Goldman shill, or a master of satire....
Anyone who´s been around here for awhile knows that it´s option # 3. In fact I suspect MDB is a second knick of one of our most informed and respected bloggers.
Gold is still money...and ALL commodities are getting slammed.
Oil is still hanging in there...BARELY in my view.
Steve Liesman, obviously. Though he may be huffing paint by now in order to remain that stupid.
Huffing Post has that exchange between Rick and LIES-allLIES-man! They are saying Liesman was vindicated in that exchange. Ugggggg......
The HPost and Liesman are on the same team. No surprise they come to the pudge's defense. Its laughable and cryable at the same time.
;)
is there anyone left out there who actually fails to see the rigging at this point? paid liars are one thing... but real people should all be able to see that the world is run by criminals by now. from that standpoint, these PM hammerings have useful events... shining a light on how the world is controlled from the shadows.
Well, Doug Casey says all this gold-rigging talk is nonsense.
Generally, I like Casey, but when I hear him do his whiney 'eeeooorrr, theeease Gooold manipulation meeeeemes, there just riDIculous', I want to throw something at the screen.
Why won't the fucker have a perusal of GATA's webiste? I guess he just doesn't want to know.
Simple. Casey sells two metals mining stock newsletters in which the recommended companies have made big losses since 2011.If he were to represent that gold and silver are manipulated to the downside, even more subscribers would cancel.
Casey should go back to Argentina and stay there. I was a subsciber and took a beating with his gold juniors. He has an agenda for saying there is no manipulation when the evidence is well, evident.
The biggest joke was Jeff Clark, Editor of "Big Gold" saying that your total metals position including miners should not be more than 10% of investible assets!
Ever heard of "Rewards dictate behaviors"? Regardless of whether you have or haven't...
Anticipate and Plan accordingly, when it comes to salesmen of all types and ilk.
Apparently Doug Casey doesn't feel this market is manipulated. How he comes to that conclusion after watching this price action is anyone's guess. I personally think he staked out this position back when it was not very apparent and now he has his balls in the way so he won't back down. I can even understand that perhaps some large bullion banks are doing this for the purposes of whipsawing investors in and out of positions. Either way, it's manipulation and if the CFTC doesn't act it is because it is a sanctioned activity which in fact makes it gov't manipulation.
Yes, Keith Weiner of Monetary Metals. What a schmuck!
T h a t is a prime wanker if ever there was one.
Paging Mr Putin, Mr, Putin, gold sale now on at 33 Liberty St, New York, NY 10045, USA.
I wonder, what is the current price real gold for someone trying to buy a significant amount... doubt its published, but i suspect not the same price as on that chart...
Yep John, Doug Casey apparently is one
Ha ha, not the kind of gold Putin wants, only the paper stuff.
But you can turn the paper into phyzz just by taking delivery!
Allegedly.
Indian gold sale - remember 500t?
Don't forget the flood of scrap Gold!
Nadler used to go on about that ceaselessly............ When's the last time ANYBODY has heard mention of "Scrap Gold" after he flaked out?
Who has that GIF of the Dos Equis guy saying "I don't always sell gold, but when I do, it's at 3AM, $500 million worth at a time."?
You undershot that duo, its a $Bil at a time
And it's like trying to hold a beach ball under water!..
And this is a "problem" HOW? Ever heard of BTFD?
[beep, beep, beep] "Load 'er up, boys!"
The printer here is....... CHINA
$1.37 Billion notional yesterday and $2.3 Billion today. Mikael Charoze, Senior Gold Dealer at Bank for International Settlements - Hong Kong, must be quite busy this week.
http://www.zerohedge.com/news/2013-08-26/gold-pump-and-dump-deja-vuSerious question for one of y'all more knowledgeable people : aren't these futures dumps a lot more than what we have seen in the past, when the price would drop so fast trading was halted for a few seconds, because it seems like I remember those 'only' being a few hundred million worth. So why have they been able to dump billions of dollars at once without tripping these breakers? The manipulation is obvious, I'm just curious if these raids are starting to be less effective
Greenskeeper_Carl So why have they been able to dump billions of dollars at once without tripping these breakers?
----
What breakers do you refer too?
CME's Stop Logic events, for one.
seek CME's Stop Logic events, for one.
----
If you understand futures trading as I do, as I traded comex and csce in NY as well as trading the cme. This is nothing new and not really a circuit breaker. Once a market becomes illiquid because there are either no buyers (thus price crashes) or no sellers (thus prices skyrocket), a shutdown is in place on a predetermined level such as percentage or whatever the rule is. That doesn't stop the next day from being the same. A person could be long and have the market go limit down against them for several days. That type of rule has long been in place for decades. Its called limit up or limit down.
That is not the same as a circuit breaker which gives pauses and resumes trading.The intent of both is the same but they are not exactly the same. You will generally find circuit breakers are for equities. While a LU/LD are for commodities.
It's clear stop logic isn't a circuit breaker, but the term is used here all the time. The point is it's a move big enough to trigger intervention from the exchange.
CME said it was exploring real breakers back in April, but for the time being, for gold trading, this is what everyone is referring to when we say circuit breakers -- and yes, we know this isn't the same thing as in equities.
Since you already knew the answer, though, why did you ask the question?
Price falls until someone buys. This is telling us someone(s) with deep pockets is buying these contracts.
This in turn could mean several things: that the market is more liquid in the past (either due to more participants or more active participation), or that there is one or more participants waiting on the sidelines with a really big order that they're not puting into the market all at once because they don't want the price to move upwards.
Any way you look at it, the market absorbing this kind of volume with practically no price movement is bullish.
These amounts are peanuts to state-level actors (the Fed, China/Russia etc) on both sides of the equation, but I could see them being involved in order to control perception. Perhaps there's even an unwritten agreement to lock the price at $1,300, but I doubt it.
You're being too naive. The guy who is selling and the guy who is buying are from the same family. Their motivation is clearly to suggest stability and faith in the currencies. Without their meddling up or down, the price would long have gone bezerk off the charts in the real market place.
If people had heard 100 years ago that their governments and central banks are just printing, printing, printing to cover any bank losses, any budgets, any bond market they wouldn't have waited a minute longer to buy gold and silver.
Their machinations and propaganda today seem to work until they don't.
Bingo!
We all know manipulation happens -- but I think it's reasonable to think that at times actual trades are happening as well. We have no way of knowing which is which at the moment. What I am saying here hypothesizes this isn't a directly manipulative trade, where whatever manipulation taking place is somewhat secondary to the transaction happening.
In a nutshell, whoever is dumping contacts on the exchange is doing so either because they want to (e.g. manipulation) or they have to (fire sale.) If it's outright manipulation they can structure it however they want, but I think it's safe to say the puke everything at once approach is pretty ham-fisted.
Completely gut feel on my part, but I don't think these last two dumps are overtly manipulative. I think we've got a major bank in trouble and the sales are connected to this.
Thanks for the answer, that's kinda what I was wondering. I understand the stop logic, and I know there are differences in the way all this works between equities and commodities like gold, I just said 'circuit breakers' since that's the term most on here use. I know 1-2 billion is peanuts for orgs like the fed, etc. but my curiosity was how the market was able to absorb 3 billion in sell orders over 2 days without triggering a brief halt, when all it took in the past, especially late last year(I believe that's when it happened), was a couple hundred million, 10-15% of what was dumped today would slam the price down 30 dollars or so and trigger a halt. Someone or some group of someone's waiting in the wings to absorb this is possible, as you said. I've also heard others I here suggest that the threshold it's not being allowed to cross is the 1000 euro mark. If any of this is true, it's interesting that it is requiring billions rather than the couple hundred million it took less than a year ago to achieve similar results. And while it did make the price drop substantially, it still didn't trigger a halt like in the past, despite doing it two days in a row, which I don't remember happening often in the past. Interesting times...
That is a traditional way to celebrate Fed chairperson's testimony - has been going on for years.
Gold Yeller?
sheesh...seems like anti-gold Yeller
Oh well, you know what they say:
BTFD...hope they can smash paper silver down close to 20 bucks or less by the end of the week. Payday's a comin' and that'll be a good price to add more phyzz to the stack.
she is explaining in plain english that they need moar time for the distribution top phase of the pump and dump scheme
just a normal Tuesday AM trade?!?
Yay!! Keep selling assholes. Gold Is on sale!!
It's now been proven 3 or 4 times in the last 12 months that gold is inversely reacting to global issues as each one happens. You think the world isn't going to get worse? Gold has shown how robust a hedge it is big time. Headlines are down so gold is now on sale again end of story.
I feel like Dan Akroyd waiting for the selling panic to subside, and immediately following the Secretary of Agriculture's announcement, merely says:
"Buy 'em."
[Notice how silver and platinum have hardly budged. 'Unrigged' indeed...]
We print a much as we want and the price of gold will be whatever we say it is.
Pfft! Tradition!
"We have no need for ancient ways
The world is doing fine
Another toy that helped destroy
The elder race of man
Forget about your silly whim
It doesn't fit the plan" - Neil Peart...in his Randian Days
Calling LTER.
How come the militia doesn't storm these meetings and demand to see the GOLD !!!
If you're holding paper and you know there's no real stuff. You shut up and try to sell your paper without showing panick.
Sell the paper and buy other commodities. Copper, nickle, coal, oil,... whatever.
And that's where they weak spot is, they can't control everything and not expect to run into shortages which will create a hyperinflation as there's still plenty of money but a complete lack of commodities.
Dunno Suddent Debt, I think we have some evidence that those other commodities are re-hypothecated2 as well.
and how did they find out?
Because suddenly, people started to take possesion. That means there's people actually taking it into own hands now and shipping it to other locations.
Did you notice in china they stopped checking? Why? Because when you know it might not be there, you don't look into it. You keep the box sealed like a monsterbox and you sell it again. There's always somebody buying.
The day they'll show it in the msn will be the day, the last products left the warehouse a few weeks early.
Dunno Suddent Debt, I think we have some evidence that those other commodities are re-hypothecated2 as well.
Bingo.
Bingo.
anything that is traded in a futures " market" . Potential infinite paper supply.
correction: plenty of currency
There is not enough collateral to back all the paper crap at current valuations. Either the paper crap has to be deflated, defaulted massively or the valuations on all real collateral has to be allowed to go sky high.
Gold $50,000
Silver $1,000
Why is that so difficult to understand?
Thats a lot of trees...paper..call Greenpeace to stage a protest....I guess if your a 1%er..when you have to sell..you just dump it....
Audit the fucking Fed already. A complete audit of all assets etc.
Just add up the world's debts -- it would be easier than trying to audit the Fed. They equal the Fed's assets.
Amerika, you blew it when you didn't elect Ron Paul.
Man, I hope I live to see the Bankster "Truth and Reconciliation" trials...
as long as the trials are 'old west' style... short and to the point. otherwise i will get board waiting for the hanging...
Good luck with that. High priests with forked tongues have the power to conjure whatever they please, out of thin air.
...and disband the Plunge Protection Team, and the absolutely worthless CFTC.
You guys are dreaming!! The Fed and The powers in charge WOULD NEVER leave even one day to chance, when it comes to the only asset class that is the foundation of their daily deception - which is the US stock market. The level of manipulation is what everyone fails to wrap their mind around. This market, for the last 5 years, is guarded like a modern day Ft Knox. It is the bedrock between success and failure. All of the Fed's credibility is based on US equity action ALONE. There is ABSOLUTELY NO CHANCE of a crash or even a reasonable correction, unless it is allowed.
Why does Nutty yahoo look so much like hitler in all the current news pics. Perhaps his "actions" are a tell?
because he is as desperate as Hitler at the end... Israel is losing this war, just as the bankers are:
http://www.veteranstoday.com/2014/07/15/once-again-israel-is-defeated/
Grasping at straws article... I'm not pro Israel.
Gilad Atzmon knows Israeli culture better than anyone... I think he is on to something. Israel screwed itself. It can't "win" militarily, and bombing women and kids is only suceeding in exposing Israeli as a mad dog state run by psychopathss... Americans might be too brainwashed to notice, but around the world, people are seeing the truth...
Yeah, pretty funny. Americans still support Israel for the most part (but this has been changing the last decade), but ROW (Rest of World), not so much.
Most of the US Senate are card carrying supporters of U$rael. What do you expect? ROW is already making deals behind the US' back. Russia, China and Germany notably doing their thing. The ME is a basket case and who knows what is really going on in Syria, Lebanon and Iraq. Could take years to sort this mess out. In the meantime, the US is printing to cover its spending in a shitty economy with part time workers who are supposedly feeling a "recovery" just so that the top 0.01% can stuff their pockets more. There's corruption galore in Russia and China as well, some in Germany but the US takes the cake because the corruption in the US is sold to the people with patriotism and "feel good" propaganda.
Thanks for the discount!
What manipulation?
hmmm
https://www.youtube.com/watch?v=ozdQm7-zD4M
Now it's $2.3B.
uh, even I, the great Kim Jong Un can smell manipulation. Also, Janet Yellen is a stooge.
It's really looking like the endgame here. constant smackdowns with no real effect.
And what's the goal? Even if gold is at 1 dollar, people will buy it.
Even if a ounce was only worth 1 dollar, it would still give protection against the greenback.
That's what they don't understand.
Even bars of copper will do. And now it's becomming pretty clear that there's something going to happen which they can't control.
The cocksucker's know they have fewer and fewer hands left to play supporting a fading reserve currency. Most of those hands are circle jerking their soon to be former allies, while pushing PM's down as we all know makes the paper greenback look stronger. The BRIC's will entomb the Dollar's world monopoly in short order. Let's hope our dear leaders secretly still have all the color stored away to buttress the new American currency when it is announced... I don't know how to write and make it look sarcastic.
Also makes you wonder what's going to happen on the 20th he?
5 more day, and everything is escalating again.
Didn't Christine Lagarde hint that the 20th was "the big day"? http://www.peakprosperity.com/forum/86163/imfs-planned-global-currency-reset
We drilled too deep, men! Run for it! She's gonna blow!!
The goal has nothing to do with understanding the value of gold-backed fiat. The one and only goal is to manage expectations so that the facade might live another day.
It's lost aroun 4% in the last couple of days alone - I wouldn't exactly call that 'no real effect'.
But I'm sure my ounces weigh exactly the same... if only I could hold my breath long enough to swim down and find them after that UBA*.
*Unfortunate Boating Accident
try scuba diving.
Yes something will happen that they can't control. The question is when? AS long as printed dollars keep working the suppression will continue.
I remember when gold prices at least pretended to be about... gold.
When was that, exactly? My memory is a little foggy.
At least 40 years ago.
The day before the Fed opened it's doors in 1913.
the price is wrong bitch(ez)
Mr Yellen's head would look lovely in a basket, just sayin'
will VS would?
poxy Dow back green this is just such a farce
Monkey Hammer Time again. I smell a discount.
Monkey-Hammer-Discount-Time!
This is my worried face - :)
Great article over at Ole Remus and the Woodpile Report.
It'll put it all in perspective for ya.
Though they 'might' be able to keep the wheels on a bit longer; the end is plainly in sight. Hyperinflation is on the horizon and it ain't gonna be pretty, for a while. But rest assured, gold will figure prominently in what comes next. And so will lead. Caviar Emperor
The SWAT teams will trade their lead for your gold?
After reprogramming the corn algo circa 2013 to Soybeans circa 2014, it is oil/gold turn...
Libya mulls int'l intervention to stop violence Xinhau
From Washington Post
Ex-Libyan general battling Islamist militias faces dwindling support amid
Khalifa Hifter, the ex-general leading a revolt in Libya, spent years in exile in Northern
Fiduciary duty at its finest.
Frankly, I really don't care any more for how long they will keep suppressing the real value of gold. All kidding aside, when it comes to physical PM's, my investment horizon is measured in generations, if need be.
In this regard I feel a bit like those famous English landscape architects of the 16th/17th century, who designed fabulous gardens which sometimes would only show their full splendour some 50 or 100 years after they where actually laid out.
Fed prints money and shorts gold futures. Wha? Is anyone surprised? The FED can't let Gold reflect safety or be seen as a store of value. That would be counter to its central planning agenda. I find it hyprocritical that as a regulator, the FED itself is likely the worlds largest manipulator of free markets. It should look inward and recognize the damage its doing to society and ponder the hypocracy of its very own policies. Today, the FED is punishing savers and rewarding risk takers. It's making it impossible to be a prudent investor.
I am really starting to understand the damage that misallocation of printed capital combined with Central Interference can do to an economy. There is literally no way we can recover. It is impossible. It is like going outside every day and not knowing if you will have 200 pallets of toothpaste in your yard, your house will be on fire, you will get hit with a shrink ray, or you will get everyone in the neighborhoods monthly power bill to pay. There is no baseline of sanity or value to make judgements
look inward? for what? like these bloodsuckers have conscience? don't mistake the federal reserve for what it really is.
everything is going as planned. it's not about making them richer, they have all the wealth they need. it's about making everybody (even politicians are subhumans for them) else poorer so they could control and manipulate the masses even moar. money is just a mean to create neo-feudal civilisation based on slavery for no other reason than their sociopathic tendencies.
Nothing will ever be done because the riggers are the govt.
The only hope the Gold bulls have is that one day they lose control.
Now let me see, governments trying to manipulate prices then fucking up and losing control, mmmm, IT'S BAKED INTO THE CAKE!
As ever the timing is impossible to predict, they could lose control next week or not until 2018 BUT LOSE CONTROL THEY WILL.
It's this reason why I'm a PHYSCIAL buyer every month...
China just gave the boneheads in Washington a heads-up on The South China Sea:Don't interfere.The situation with Russia isn't any better so I think what's happening is there are a lot of big players bringing the price down on gold,to scrape out the bottom of the barrel.No record of what's going into China through Shanghai and military channels.Even James Rickards says politicians in the west seem to be fast asleep.She's all coming to a head this October.
Tyler(s) Wrote: "what better time than now to dump $2.3 Billion notional in futures."
What is the record amount for dumping? Will we see TRILLIONS one day, in a sudden GOLD "Sale"
MDB: The "Arrow People" missed you! Uh, I guess some of the arrows actually hit their targets....
bastards, making me load up even more. Smack down yesterday provided a buying opportunity and now well I guess I'll oblige and buy more. hehehe.
Someone is trading angry. I hope they have 2.3 billion in gold to deliver.
Or desperate.
This could be a bank or someone in a collateral chain puking up gold contracts to cover a loan, interest payment or margin call.
Lehman 2.0 is coming.
The only question remaining is the name on the box.
Nothing is happening on the South China Sea. The BRICS summit is what's happening as they are planning the funeral for the dollar there.
To avoid misery and embarrassment, Portugal antes gold?
Gold and Black Gold (oil) down at the same time.........
Something ugly is coming.
Very. Ugly.
I needed some money to paint the garage, shook down the couch but no luck SO I sold 17,000+ contracts....
With the bubbles in stocks..biotech....IPOs..social media...I cant figure out why they will not let PMs play in that game...they will not let us bubble....we are the only game left without a bubble...
The gold its in the...
https://www.youtube.com/watch?v=nHosQer4Jgo
well, that didn't last long. They need to double down tomorrow and do a $5 Billion smack down. Seems like the more they smack it the less it works.
1.3 bil to bring it down 30 bucks yesterday, 2.5 Bil to bring it down 10 bucks to day. Me detetcts a very interesting decreasing sequence here. Keep stacking physical Bitchez, these criminals are very desperate now...
It's called:
QUantitative Easing Effect Failure
aka QUEEF
Bitches keep pumping and dumping and the twats will keep queefing
I knew an ill wind was blowing...