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Gold Plunges Back Below $1300 As "Someone" Dumps $2.3 Billion In Futures

Tyler Durden's picture




 

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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Tue, 07/15/2014 - 11:02 | 4959024 tmosley
tmosley's picture

Hmmm, $1.5 billion.  Where have I heard that number before?

Tue, 07/15/2014 - 11:07 | 4959062 BaBaBouy
BaBaBouy's picture

It's Easy To DUMP $2.3B Paper Fiats, When YOU Are The Printer...

Tue, 07/15/2014 - 11:10 | 4959071 john39
john39's picture

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.

Tue, 07/15/2014 - 11:14 | 4959106 MillionDollarBonus_
MillionDollarBonus_'s picture

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. 

Tue, 07/15/2014 - 11:17 | 4959132 Greenskeeper_Carl
Greenskeeper_Carl's picture

Trying out for a slot on CNBC are we?

Tue, 07/15/2014 - 11:19 | 4959139 MeMadMax
MeMadMax's picture

Hey, that's cool dude...

 

Just means I can stack moar...

Tue, 07/15/2014 - 11:22 | 4959149 kliguy38
kliguy38's picture

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 

Tue, 07/15/2014 - 11:58 | 4959326 SMG
SMG's picture

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

 

 

 

Tue, 07/15/2014 - 12:04 | 4959358 Manthong
Manthong's picture

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.

Tue, 07/15/2014 - 12:09 | 4959376 SMG
SMG's picture

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.

Tue, 07/15/2014 - 14:27 | 4959860 GTC
GTC's picture

Actually, the CME Group lowered margins last Friday. 

Tue, 07/15/2014 - 14:35 | 4959899 Manthong
Manthong's picture

No need for high margins when the client can print all the Benjamins in the world.

Tue, 07/15/2014 - 15:45 | 4960237 Motorhead
Motorhead's picture

That's just not possible.  Jim Sinclair and King World News said so.

Tue, 07/15/2014 - 19:05 | 4960849 Four chan
Four chan's picture

who has 2,300,000,000$ to plunk down on one trade like its nothing?

 

talk about manipulation.

Tue, 07/15/2014 - 12:11 | 4959379 SumTing Wong
SumTing Wong's picture

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?

Tue, 07/15/2014 - 11:17 | 4959133 SuperRay
SuperRay's picture

Troll zombie moron

Tue, 07/15/2014 - 11:33 | 4959211 MsCreant
Tue, 07/15/2014 - 11:46 | 4959268 Overfed
Overfed's picture

That's some funny shit there. It's like a very dry version of The Onion.

Tue, 07/15/2014 - 11:19 | 4959138 camaro68ss
camaro68ss's picture

Got to get those shorts cleared before, to da moon

Tue, 07/15/2014 - 11:47 | 4959272 SuperRay
SuperRay's picture

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

Tue, 07/15/2014 - 11:20 | 4959144 firstdivision
firstdivision's picture

"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

Tue, 07/15/2014 - 11:24 | 4959172 MillionDollarBonus_
MillionDollarBonus_'s picture

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.

Tue, 07/15/2014 - 11:29 | 4959196 DaddyO
DaddyO's picture

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

Tue, 07/15/2014 - 11:29 | 4959199 IridiumRebel
IridiumRebel's picture

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.

Tue, 07/15/2014 - 11:44 | 4959261 SILVERGEDDON
SILVERGEDDON's picture

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.  

Tue, 07/15/2014 - 16:40 | 4960457 NoDecaf
NoDecaf's picture

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.

 

Tue, 07/15/2014 - 11:24 | 4959173 goldpercent
goldpercent's picture

ROFLMAO 

I missed you

Tue, 07/15/2014 - 11:25 | 4959174 fiftybagger
fiftybagger's picture

Thumbs up for top grade trolling

Silver For The People

Tue, 07/15/2014 - 11:40 | 4959227 SILVERGEDDON
SILVERGEDDON's picture

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 ?

 

Tue, 07/15/2014 - 12:21 | 4959425 Duffy Duck
Duffy Duck's picture

mdb_ is either an idiot, a Goldman shill, or a master of satire....

Tue, 07/15/2014 - 14:18 | 4959830 douglas
douglas's picture

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.

Tue, 07/15/2014 - 12:44 | 4959494 disabledvet
disabledvet's picture

Gold is still money...and ALL commodities are getting slammed.

Oil is still hanging in there...BARELY in my view.

Tue, 07/15/2014 - 11:14 | 4959107 NotApplicable
NotApplicable's picture

Steve Liesman, obviously. Though he may be huffing paint by now in order to remain that stupid.

Tue, 07/15/2014 - 11:16 | 4959129 Dr. Richard Head
Dr. Richard Head's picture

Huffing Post has that exchange between Rick and LIES-allLIES-man!  They are saying Liesman was vindicated in that exchange.  Ugggggg......

Tue, 07/15/2014 - 12:07 | 4959362 spekulatn
spekulatn's picture

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. 

;)

Tue, 07/15/2014 - 11:19 | 4959142 BigJim
BigJim's picture

 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.

Tue, 07/15/2014 - 11:33 | 4959216 Jack Sheet
Jack Sheet's picture

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.

Tue, 07/15/2014 - 12:12 | 4959386 Whalley World
Whalley World's picture

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.

Tue, 07/15/2014 - 12:22 | 4959430 Fuh Querada
Fuh Querada's picture

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!

Tue, 07/15/2014 - 13:02 | 4959576 Kirk2NCC1701
Kirk2NCC1701's picture

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.

Tue, 07/15/2014 - 11:30 | 4959204 chubbar
chubbar's picture

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.

Tue, 07/15/2014 - 11:50 | 4959284 dressguard
dressguard's picture

Yes, Keith Weiner of Monetary Metals. What a schmuck!

Tue, 07/15/2014 - 12:21 | 4959422 Fuh Querada
Fuh Querada's picture

T h a t is a prime wanker if ever there was one.

Tue, 07/15/2014 - 11:09 | 4959074 BigJim
BigJim's picture

Paging Mr Putin, Mr, Putin, gold sale now on at 33 Liberty St, New York, NY 10045, USA.

Tue, 07/15/2014 - 11:14 | 4959102 john39
john39's picture

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...

Tue, 07/15/2014 - 11:14 | 4959110 SoilMyselfRotten
SoilMyselfRotten's picture

Yep John, Doug Casey apparently is one

Tue, 07/15/2014 - 11:16 | 4959124 Al Huxley
Al Huxley's picture

Ha ha, not the kind of gold Putin wants, only the paper stuff.

Tue, 07/15/2014 - 11:22 | 4959153 BigJim
BigJim's picture

But you can turn the paper into phyzz just by taking delivery!

Allegedly.

Tue, 07/15/2014 - 11:30 | 4959197 meatworm
meatworm's picture

Indian gold sale - remember 500t?

Tue, 07/15/2014 - 16:14 | 4960358 bilbert
bilbert's picture

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?

Tue, 07/15/2014 - 11:11 | 4959086 duo
duo's picture

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."?

Tue, 07/15/2014 - 11:24 | 4959169 SoilMyselfRotten
SoilMyselfRotten's picture

You undershot that duo, its a $Bil at a time

Tue, 07/15/2014 - 11:54 | 4959301 pizzedoff
pizzedoff's picture

And it's like trying to hold a beach ball under water!..

Tue, 07/15/2014 - 13:04 | 4959585 Kirk2NCC1701
Kirk2NCC1701's picture

And this is a "problem" HOW?  Ever heard of BTFD?

[beep, beep, beep] "Load 'er up, boys!"

Tue, 07/15/2014 - 15:25 | 4960161 AmCockerSpaniel
AmCockerSpaniel's picture

The printer here is.......   CHINA

Tue, 07/15/2014 - 11:22 | 4959094 AlaricBalth
AlaricBalth's picture

$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-vu
Tue, 07/15/2014 - 11:26 | 4959182 Greenskeeper_Carl
Greenskeeper_Carl's picture

Serious 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

Tue, 07/15/2014 - 12:12 | 4959388 sessinpo
sessinpo's picture

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?

Tue, 07/15/2014 - 12:17 | 4959412 seek
Tue, 07/15/2014 - 12:39 | 4959480 sessinpo
sessinpo's picture

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.

 

Tue, 07/15/2014 - 13:09 | 4959602 seek
seek's picture

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?

Tue, 07/15/2014 - 12:14 | 4959393 seek
seek's picture

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.

Tue, 07/15/2014 - 13:11 | 4959607 walküre
walküre's picture

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.

Tue, 07/15/2014 - 14:26 | 4959846 douglas
douglas's picture

Bingo!

Tue, 07/15/2014 - 14:36 | 4959900 seek
seek's picture

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.

Tue, 07/15/2014 - 14:39 | 4959913 Greenskeeper_Carl
Greenskeeper_Carl's picture

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...

Tue, 07/15/2014 - 11:03 | 4959025 JustObserving
JustObserving's picture

That is a traditional way to celebrate Fed chairperson's testimony - has been going on for years.

Tue, 07/15/2014 - 11:10 | 4959076 NotApplicable
NotApplicable's picture

Gold Yeller?

Tue, 07/15/2014 - 11:31 | 4959205 Save_America1st
Save_America1st's picture

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.

Tue, 07/15/2014 - 11:03 | 4959029 buzzsaw99
buzzsaw99's picture

she is explaining in plain english that they need moar time for the distribution top phase of the pump and dump scheme

Tue, 07/15/2014 - 11:03 | 4959031 Charles Nelson ...
Charles Nelson Reilly's picture

just a normal Tuesday AM trade?!?

Tue, 07/15/2014 - 11:12 | 4959032 F0ster
F0ster's picture

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.

Tue, 07/15/2014 - 11:18 | 4959130 Pool Shark
Pool Shark's picture

 

 

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...]

Tue, 07/15/2014 - 11:04 | 4959033 Bastiat
Bastiat's picture

We print a much as we want and the price of gold will be whatever we say it is.

Tue, 07/15/2014 - 11:13 | 4959103 A Nanny Moose
A Nanny Moose's picture

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.

Tue, 07/15/2014 - 11:04 | 4959036 Seasmoke
Seasmoke's picture

How come the militia doesn't storm these meetings and demand to see the GOLD !!!

Tue, 07/15/2014 - 11:09 | 4959068 Sudden Debt
Sudden Debt's picture

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.

Tue, 07/15/2014 - 11:13 | 4959092 MsCreant
MsCreant's picture

Dunno Suddent Debt, I think we have some evidence that those other commodities are re-hypothecated2 as well.

Tue, 07/15/2014 - 11:17 | 4959137 Sudden Debt
Sudden Debt's picture

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.

 

Tue, 07/15/2014 - 11:13 | 4959093 MsCreant
MsCreant's picture

Dunno Suddent Debt, I think we have some evidence that those other commodities are re-hypothecated2 as well.

Tue, 07/15/2014 - 11:20 | 4959143 Stoploss
Stoploss's picture

Bingo.

Bingo.

Tue, 07/15/2014 - 12:15 | 4959400 Fuh Querada
Fuh Querada's picture

anything that is traded in a futures " market" . Potential infinite paper supply.

Tue, 07/15/2014 - 11:25 | 4959179 _ConanTheLibert...
_ConanTheLibertarian_'s picture

correction: plenty of currency

Tue, 07/15/2014 - 12:01 | 4959348 walküre
walküre's picture

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?

Tue, 07/15/2014 - 11:04 | 4959037 youngman
youngman's picture

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....

Tue, 07/15/2014 - 11:04 | 4959039 LawsofPhysics
LawsofPhysics's picture

Audit the fucking Fed already.  A complete audit of all assets etc.

Tue, 07/15/2014 - 11:08 | 4959064 Uchtdorf
Uchtdorf's picture

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.

Tue, 07/15/2014 - 11:16 | 4959121 Herd Redirectio...
Herd Redirection Committee's picture

Man, I hope I live to see the Bankster "Truth and Reconciliation" trials...

Tue, 07/15/2014 - 11:18 | 4959141 john39
john39's picture

as long as the trials are 'old west' style... short and to the point.  otherwise i will get board waiting for the hanging...

Tue, 07/15/2014 - 11:17 | 4959122 A Nanny Moose
A Nanny Moose's picture

Good luck with that. High priests with forked tongues have the power to conjure whatever they please, out of thin air.

Tue, 07/15/2014 - 11:16 | 4959126 grekko
grekko's picture

...and disband the Plunge Protection Team, and the absolutely worthless CFTC.

Tue, 07/15/2014 - 13:58 | 4959724 Lewshine
Lewshine's picture

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.  

Tue, 07/15/2014 - 11:04 | 4959040 MeMongo
MeMongo's picture

Why does Nutty yahoo look so much like hitler in all the current news pics. Perhaps his "actions" are a tell?

Tue, 07/15/2014 - 11:11 | 4959081 john39
john39's picture

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/

Tue, 07/15/2014 - 11:40 | 4959247 blabam
blabam's picture

Grasping at straws article...   I'm not pro Israel. 

Tue, 07/15/2014 - 11:44 | 4959258 john39
john39's picture

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... 

Tue, 07/15/2014 - 11:57 | 4959322 Herd Redirectio...
Herd Redirection Committee's picture

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.

Tue, 07/15/2014 - 12:35 | 4959466 walküre
walküre's picture

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.

Tue, 07/15/2014 - 11:04 | 4959041 Shrapnel
Shrapnel's picture

Thanks for the discount!

Tue, 07/15/2014 - 11:04 | 4959042 JRobby
JRobby's picture

What manipulation?

Tue, 07/15/2014 - 11:05 | 4959046 1stepcloser
Tue, 07/15/2014 - 11:05 | 4959051 Uchtdorf
Uchtdorf's picture

Now it's $2.3B.

Tue, 07/15/2014 - 11:06 | 4959053 bcking
bcking's picture

uh, even I, the great Kim Jong Un can smell manipulation. Also, Janet Yellen is a stooge.

Tue, 07/15/2014 - 11:06 | 4959055 Sudden Debt
Sudden Debt's picture

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.

Tue, 07/15/2014 - 11:11 | 4959075 AL_SWEARENGEN
AL_SWEARENGEN's picture

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.

Tue, 07/15/2014 - 11:12 | 4959091 Sudden Debt
Sudden Debt's picture

Also makes you wonder what's going to happen on the 20th he?

5 more day, and everything is escalating again.

Tue, 07/15/2014 - 11:24 | 4959167 Dagny Taggart
Dagny Taggart's picture

Didn't Christine Lagarde hint that the 20th was "the big day"? http://www.peakprosperity.com/forum/86163/imfs-planned-global-currency-reset

Tue, 07/15/2014 - 13:01 | 4959566 lakecity55
lakecity55's picture

We drilled too deep, men! Run for it! She's gonna blow!!

Tue, 07/15/2014 - 11:12 | 4959088 NotApplicable
NotApplicable's picture

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.

Tue, 07/15/2014 - 11:13 | 4959101 BigJim
BigJim's picture

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

Wed, 07/16/2014 - 06:58 | 4961974 samcontrol
samcontrol's picture

try scuba diving.

Tue, 07/15/2014 - 11:16 | 4959120 Latitude25
Latitude25's picture

Yes something will happen that they can't control.  The question is when?  AS long as printed dollars keep working the suppression will continue.

Tue, 07/15/2014 - 11:07 | 4959061 Mrs. Cog
Mrs. Cog's picture

I remember when gold prices at least pretended to be about... gold.

Tue, 07/15/2014 - 11:09 | 4959069 NoDebt
NoDebt's picture

When was that, exactly?  My memory is a little foggy.

Tue, 07/15/2014 - 11:13 | 4959095 NotApplicable
NotApplicable's picture

At least 40 years ago.

Tue, 07/15/2014 - 11:14 | 4959104 grekko
grekko's picture

The day before the Fed opened it's doors in 1913.

Tue, 07/15/2014 - 11:12 | 4959087 buzzsaw99
buzzsaw99's picture

the price is wrong bitch(ez)

Tue, 07/15/2014 - 11:11 | 4959084 WTFUD
WTFUD's picture

Mr Yellen's head would look lovely in a basket, just sayin'

Tue, 07/15/2014 - 12:58 | 4959557 RaceToTheBottom
RaceToTheBottom's picture

will VS would?

Tue, 07/15/2014 - 11:12 | 4959085 jubber
jubber's picture

poxy Dow back green this is just such a farce

Tue, 07/15/2014 - 11:12 | 4959089 Tigg47
Tigg47's picture

Monkey Hammer Time again. I smell a discount.

Tue, 07/15/2014 - 11:14 | 4959100 Tigg47
Tigg47's picture

Monkey-Hammer-Discount-Time!

Tue, 07/15/2014 - 11:14 | 4959109 Obama_4_Dictator
Obama_4_Dictator's picture

This is my worried face - :)

Tue, 07/15/2014 - 11:15 | 4959114 Gringo Viejo
Gringo Viejo's picture

Great article over at Ole Remus and the Woodpile Report.
It'll put it all in perspective for ya.

Tue, 07/15/2014 - 11:15 | 4959118 IronShield
IronShield's picture

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

Tue, 07/15/2014 - 12:47 | 4959507 FeralSerf
FeralSerf's picture

The SWAT teams will trade their lead for your gold?

Tue, 07/15/2014 - 11:22 | 4959157 SDRII
SDRII's picture

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

Tue, 07/15/2014 - 11:24 | 4959168 FieldingMellish
FieldingMellish's picture

Fiduciary duty at its finest.

Tue, 07/15/2014 - 11:27 | 4959186 highly debtful
highly debtful's picture

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. 

Tue, 07/15/2014 - 11:27 | 4959191 Sach Mahoney
Sach Mahoney's picture

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.  

Tue, 07/15/2014 - 11:48 | 4959275 Quinvarius
Quinvarius's picture

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

Tue, 07/15/2014 - 13:20 | 4959628 layman_please
layman_please's picture

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.

Tue, 07/15/2014 - 11:30 | 4959200 Calculus99
Calculus99's picture

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...

Tue, 07/15/2014 - 11:30 | 4959203 Herdee
Herdee's picture

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.

Tue, 07/15/2014 - 12:31 | 4959218 alexcojones
alexcojones's picture

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....


Tue, 07/15/2014 - 11:36 | 4959226 vyeung
vyeung's picture

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.

Tue, 07/15/2014 - 11:37 | 4959235 Quinvarius
Quinvarius's picture

Someone is trading angry.  I hope they have 2.3 billion in gold to deliver.

Tue, 07/15/2014 - 11:40 | 4959248 seek
seek's picture

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.

Tue, 07/15/2014 - 11:38 | 4959237 seek
seek's picture

Lehman 2.0 is coming.

Tue, 07/15/2014 - 13:14 | 4959618 RaceToTheBottom
RaceToTheBottom's picture

The only question remaining is the name on the box.

Tue, 07/15/2014 - 11:38 | 4959241 vyeung
vyeung's picture

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.

Tue, 07/15/2014 - 11:40 | 4959246 Fix-ItSilly
Fix-ItSilly's picture

To avoid misery and embarrassment, Portugal antes gold?

Tue, 07/15/2014 - 11:41 | 4959254 Uber Vandal
Uber Vandal's picture

Gold and Black Gold (oil) down at the same time.........

Something ugly is coming.

Very. Ugly.

Tue, 07/15/2014 - 11:48 | 4959277 Fix It Again Timmy
Fix It Again Timmy's picture

I needed some money to paint the garage, shook down the couch but no luck SO I sold 17,000+ contracts....

Tue, 07/15/2014 - 11:49 | 4959283 youngman
youngman's picture

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...

Tue, 07/15/2014 - 11:51 | 4959287 Ban KKiller
Tue, 07/15/2014 - 11:52 | 4959292 vyeung
vyeung's picture

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.

Tue, 07/15/2014 - 11:54 | 4959298 Hulk
Hulk's picture

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...

Tue, 07/15/2014 - 12:12 | 4959384 Fuku Ben
Fuku Ben's picture

It's called:

QUantitative Easing Effect Failure

aka QUEEF

Bitches keep pumping and dumping and the twats will keep queefing

Tue, 07/15/2014 - 12:46 | 4959506 MsCreant
MsCreant's picture

I knew an ill wind was blowing...

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