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The Gold & Silver Morning Smackdown Is Back
Despite NATO's warnings of Russian escalation in Ukraine, 8amET was a far bigger catalyst for precious metals this morning as the once ubiquitous morning meltdown is back. With gold relatively flat and Treasury yields down 10bps after a 60 point S&P surge, maybe this is catch-down but the heavy-volume plunge in Gold and Silver is notable in that USDJPY appeared to jerk higher at the same time.
Gold and silver appear to be dumping back to the same flush levels as copper and oil on the week
Heavy volumes flushing through futures...
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Why no mention of the smackups the last 3 days in a row? https://twitter.com/BullionBaron/status/499899289603031040
Because it was a steady upward grind the last few days and not an all at once event like this morning.
Stay the course, stackers. They can't keep it down much longer.
Buy MOAR you need to average in those $1800 buys
If you have figured it out then all they really are doing is giving you a gift here......NO complaints from me....ehhehehee I'll take it and even lower
Well then you should REALLY like what they have in store for you in the coming weeks - a triple dip back to $1200, then look out below as support cracks and we crash. Likely in unison with a general market crash.
I'm confused.
Do we BTFD? Or avoid CTFK?
The old triple dip. Hadn't thought of THAT one.
They are just reminding you not to get any funny ideas about making money in PM's because the Fiat scheme must continue. They are all-in and will not give up until the system collapses and they have larger priorities than PM manipulation. It is, embarassingly obvious to all but a Bankster?
If you are asking yourself, "Why fight the Fed?", that is exactly what they want you to think. And it is a good question to consider. IMHO, physical PM holdings outside the Banking system should be a small, but now overweight position, as insurance for when this Ponzi goes more "Tits up than Dolly Parton swimming backstroke".
I´m damn near 100% phyzz and will be buying as much as I can, for as long as it´s available to buy with pieces of paper fiat. If the PTB want to smash gold down to $300 bucks, and silver to $10 or less, I´m all for it. Any existing stock will literally disappear from the face of the Earth, and the miners will all collapse into oblivian. Then watch what happens.
I wish I had the income to survive during the drop to $300, but I don't. And it WILL go way down before the next exponential leg up as the Banksters attempt to extract every last drop of blood from the organism before allowing it to turn around and make them money to the upside. I don't live in the US so, IMHO, Real Estate in parts of Asia is still a very good holding. But, yes, all hard assets, none of the paper Ponzi trash!!!
New article title: "Gold Smacked Down to Lower Portion of Trading Range"
I bet the Chinese, the Russian, the other BRICS and their associates are buying this smackdown while they pledge some of their US treasuries as collateral. And they will demand the delivery, it will cause several things:
-wreck the COMEX, the main manipulation tool;
-revalue the gold (open door for the gold becked currency);
-somebody else will be the bag-holder;
-wreck the US$.
The irony in this? The USSA provided them with weapons which allow them win the WWIII, which is already on.
I had a few co-workers that are interested in the gold and silver market ask me how the end of the silver fix would effect the price. I said I wasn't sure but I was pretty sure the price would be down on the day of the transition. I just didn't think people would be allowed to make the connection that the fix was adding to the downward manipulated thus they'd hit silver hard today. I certainly don't know for sure that there is manipulation, but this adds yet another issue to the something smells fishy pile. I'll be buying this weekend.
Barring my theory is there anything in the news that would have caused such a massive pullback today?
The Chinese and Russians are already selling Treasuries and not buying more in preference for buying physical Gold. They SEE it, but most investors in the US don't. Yet.
But also they won't destroy the COMEX, YET, because it is providing them with a cheap source of physical Gold. When they are ready, in due course, and have accumulated enough Gold, they will then stand for delivery on thousands of contracts on COMEX and crush it. They will then set the price of Gold. And it will NOT be $1300/Oz....
When the COMEX run out of phyz, then they will destroy it.
And the price will be around 3-5 British thermal units for OZ in gas or crude. This is what I mean: http://sutr.info/content/quest-national-idea-%C2%ABenergy-ruble%C2%BB-bo...
Not necessarily in kWh, but they still peg the gold to energy .
What a crock. Mr. Victor Efimov spouts the same BS that every central controller does. He talks about his superior way of connecting the money supply to production (energy). It is not possible to tie a currency to something with a supply as variable, uncertain, and unstable as energy, this will cause it to be abandoned. No matter how good a plan is to maintain money supply it will always be abused by the government if they are given the opportunity, tying the currency to something like energy would afford more than the necessary opportunity. It reminds me of the French tying their currency to land, might convince some people in a paper, but would never work in reality. I am amazed any ZHer would post such non-sense.
This article is just another Russian spouting how he can make the motherland prosperous from the top down with no mention to freedom, individual and property rights, and sound money.
Sorry dude, you are wrong.
There is the problem, you need energy like for everything. Period. The end of story.
In previous eras it was mostly energy taken from biosphere firewood, grain etc measured in gold and silver.
Now we are using mainly heat energy generated mainly from gas, crude, uranium etc.
What you probably don't know there are rumors about Gold Rubel. Each 5 Rubel coin will contain 4 gram gold.
So they may say: We will sell 3-4 cubic meter of natural gas (roughly 3-5 BTU) for 1 oz gold only in Rubel. And it will be a honest deal either you can't deny the gold in the coins and gas/crude oil in pipes.
BTW I suspect the Russians will kill the fractional reserve system.
For the down-voter: Oh It seems like I found a thoughtless hater and Russian basher.
I guess I shouldn’t argue with someone who comes out with a gem like “There is the problem, you need energy like for everything.”
I guess dude like I’m just wrong.
Ok back to reality. Energy is not a good monetary base as I said its means of production; storage and growth are too unstable. It also isn’t fungible, energy from crude oil has different costs, benefits and risks than does energy from Uranium, natural gas or solar. All electrical energy is the same but can’t be stored economically.
You could say land (including subsea land) is much more vital than is energy considering 99.9% of our energy comes from the land, not to mention all of the other resources it offers. But due to it not being fungible it did not serve well as a monetary base and failed under the French.
Not to mention pretty much all the oil and natural gas produced each year is consumed, and obviously all of the energy from solar wind and nuclear is consumed barring what is stored in batteries (very little). That also shows a flaw in using energy. The more consumed a substance is, the less value it has as a monetary base. That is why gold is better money than silver and silver is better than copper, and also why gold is better than Platinum or Palladium.
Lets also consider that a contracting money supply causes a contacting economy, and there is a good chance, if there is any truth to peak oil, that we will have to deal with contracting energy in the near future. We don’t want a contracting money supply to add to the fundamental problem of less energy. That’s not to say that the Russian’s wouldn’t be the first to try an energy based currency it would just fail miserably like some of their other brilliant ideas (communism). I hope they do try it and convince the Chinese as well (fat chance) it will leave the door wide open for us to rise from the debt based monetary ashes.
I would agree that energy is arguably the most important resource for an advanced society, but that doesn’t mean it is good as a monetary base no matter what your little Ruski comrade says. Read some Von Mises and you’ll be right as rain.
Now if you are right, and there is a gold rubel then they might have something, but I have my doubts if like you dude have the inside track on that development.
PS The russians won't have to kill the debt based fractional reserve system, that will destroy itself.
Dude (LOL) of course energy is bad base for monetary system, I know that and I'm against measuring everything in electrical kWh for various technical reasons mostly mentioned by you. But I just wanted direct you where to look. And what if the Russians say: "From now we will sell energy carriers like oil, natural gas and coal based on their energy content measured in BTU for gold (in our Rubbles). And for every 3-5 BTU (I'm just guessing but it may be its tenfold or rather hundredfold) we will take 1OZ of gold (measured in Rubbles)."
It will accomplish several things:
-easier measure of the ROI of gold and silver;
-easier measure of the EROI of the energy carriers and sources;
-minimize the energy usage and especially the wasting of energy (good bye American way of life);
-etc.
Footnote: kWh's and BTU's can be directly converted into Joules (or into each other) and it will be temporally like the disconnection from the gold standard (about 40+ years, because the gold standard is coming back). Putin and his advisers knows these materials and using them, of course he have better informations then us about his and other countries.
BTW most of the people using Marxism and communism as synonyms, they are not. Marxism is fascism in disguise (terror of "elites"), while communism is society organized around common interests of people while keeping some rights for the private ownership (of course even this system can be hijacked by fascists). And without commons you can't define the private and can't determine the boundary between them. So the question is: Where are the boundaries or where should be?
About the pyramid scheme aka fractional reserve system: the current system will implode, it is inevitable of course. But what stops the bankers (better term is usurers) for starting another game? Nothing except the gulags or prisons where they have to work hard. So the Russians will ban it and put them into the gulag system for 20-30 years.
I have no problem with him bashing banks which I see as fraud in our current system, but his free market bashing is the same old soviet BS. I think some ZHers are getting a little to cozy with the Russians due to RT. Just because the new Russian system is not as clearly horrible as the Soviet one does not mean they have a good system by any means. Americans need to re-embrace their roots and own national values of freedom, free markets, sound money and private property promoting hard work, not supplant them with new Russian ideals.
Links to support your claim, please...
Though it's not the popular view, 'brownie may be right. For example, Martin Armstrong's computer model (Global Market Watch) is signaling weekly and monthly bearishness.
It's all about the "inteventionals" these days, since the bankster cartel can put the electron/paper price anywhere they want. The only limiting factor is physical offtake by the Chinques, Injuns & Ruskies.
The only thing I agonize over is whether to convert more cybercurrency to silver now, or later when I might be able to get even more ounces for the same FeRNs.
look at the bottom panel, it indicates that au price would be lower soon, then go higher later.
http://finviz.com/futures_charts.ashx?t=GC&p=d1
btw paper au is trading like currency. better keep physical au.
How else do you think Bloomberg gets away calling silver a $5T market? These smackdowns generate spendy paper metal. Until they don't.
Indeed. I've noticed that since I've switched from paper to accumulating physical, I've actually come enjoy the takedowns. I almost bought yesterday but got too busy. So today it is. Win.
Negativity just kind of makes a guy feel good!
Smackups, thats funny. When the price spends 2 hrs inching up and then gets slapped back in 1 flash, thats not a smackup. Guess we know they aren't going away quietly.
There was a smackup yesterday to $1320, as pointed out by ZH, but then got smacked down so fast it was over before you knew it.
Why is my comment getting manipulated with all these smackdown votes?
The smack up was actual buying the smack down is rediculous allways at 9 am and 6 pm wtf. When are people gonna do something to stop the manipulation accross all markets I dont get it
Watch the printing presses if you want to see the real smack in the system.
Yes, smackdowns are mostly either before or after Europeen/US open/close. I guess to stop out the maximum possible folks either up, or mostly down, since they have a perfect overview of the book...
Was beginning to think tptb may no longer be worried. Reassuring.
Keeping PMs down is a matter of national security. A rise in PM prices causes the sheep to doubt that Rothschild debt instruments are real money. Nothing is more important to TPTB than this. The entire planet must be enslaved to this ponzi. What pisses me off is that these private CB corporations print whatever amounts they need to slam down PM prices, and the public, including us stackers, are left to pay the tab.
Here's an excellent video, All Wars Are Bankers' Wars.
A quote from the video can be found here:
Founded in 1791, by the end of its twenty year charter the First Bank of the United States had almost ruined the nation's economy, while enriching the bankers. Congress refused to renew the charter and signaled their intention to go back to a state issued value based currency on which the people paid no interest at all to any banker. This resulted in a threat from Nathan Mayer Rothschild against the US Government, "Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war." Congress still refused to renew the charter for the First Bank of the United States, whereupon Nathan Mayer Rothschild railed, "Teach those impudent Americans a lesson! Bring them back to colonial status!"
http://whatreallyhappened.com/WRHARTICLES/allwarsarebankerwars.php
Quote has not been verified. But does make perfect sense.
“You are a den of vipers and thieves. I intend to rout you out, and by the eternal God, I will rout you out.” - Andrew Jackson
it's no longer a smackdown, today is the first day silver is free to trade unmanipulated, we are finally witnessing a free market at work.
Sure fonzie hang onto that!
Back to $50 next week......................arrggghh
This could be part of the continued psyop: "You thought market fixing was bad, just wait till you see real price discovery. Here comes $10 silver." The US Gov through its agent JPM still controls the market through future paper contracts. The fraud doesn't require a London Fix to continue.
Am I the only one who apprecieates your humor?
Nope, fonz is one of my favorite posters.
The CME is running the new fix... new boss is same as the old boss. If you think this is a free market you're high.
It's a free market all right. Free to continue all the shenanigans unabated. Good to see now we have true price discovery, gives me hope that metals will finally be where they should
/sarc
Haha plus 1. Looks like most don't get the sarc. Personally, I was expecting this. "See, look, it isn't manipulated downwards, the fix ended today, and the price dropped, there wasn't any manipulation"
The new silver fix is in!
They fixed the fix? Great news.
But, but, but, Bix Wier said the silver fix was over and we were going to the moon?
Bix can go blow goats, he knows as much as many of the more astute posters that lurk here.
Bix is so full of shit I cant believe anyone listens to this clueless moron. Anyone....ANYONE that would get involved with the Mulligan mint after all the deceit, taking of money, stealing dies that they pulled on Chris Duane, can't have much on the ball. I emailed Bix about the Mulligan mint fiasco when he announced he was forming a relaionship with them. He wrote back and said it was essentially a shipping schedule problem that was blown out of proportion. Yea, well blow me Bix! If you cant see through obvious and in your face thievery, how can you be counted on to read the more subtle tea leaves.
Your road to Roota leads to your clueless asshole!
and US$ down? and Oil up? just no end to this shit
The fixed London Silver Price "fix" is being implemented today. The best way to show things are normal is to slam PMs. Same old same old.
"We are told we will know the participants, the routes through which we can put our silver trades between now and midday, but it remains to be known who exactly that will be. So we will almost certainly have a valid silver price today, but we don't know how it's going to happen," he told CNBC. He then laughed uncontrollably until he lost control of his nervous system and crapped his pants on air.
http://www.cnbc.com/id/101922263
From the article --> "there are thousands of contracts that underpin this market" -- yes, yes there are. Go ahead, drop that price to 5$ an ounce and lets see if everyone can take delivery...
The silver fix is irrelevant to silver manipulation.
http://bullionbullscanada.com/
New fix but old same mini-puke !
Maybe the banks were manipulating the silver price fix upwards instead of downwards?
Banksters are getting more and more desperate. Endgame getting closer now. Loving it.
My father has been saying that since 1971. His father had been saying it since 1913.
we all have been acumulating PMs...
Every country in the world is operating on a ponzi fiat debt issued "money" scheme. That means that there are endless digits that can be added to any balance sheet of any entity that is deemed TBTF by TPTB.
Although we may be near some more turmoil, we are nowhere near the endgame.
new boss, same as the old boss
If only the working stiff like me could actually buy those dips...
Though we each need to buy according to our comfort levels, the only true value to be found these days is offered by physical in your possession. If you think long term, and not just for your own needs, then these dips are nothing but macabre theater; strangely entertaining.
The markets themselves are fun to play, but that's about the extent of it. Up or down, money is made.
Russia escalating?
One wonders why one does not consider the NATO/US backed bombing runs and invasion of the eastern Ukraine "escalation"?!?
If we ever wake up one morning to hear news that a mushroom cloud has gone off somewhere in the world, . . . . . the PMs will REALLY take a dump downward.
First thing I said this morning (while checking out the charts) . . . . " Bullshit ! "
so I thought Comex had the least Silver in stock ever, and Shanghai had an 8% premium to spot???????????
The banksters are desperate. JPM is shorting for its life. I short JPM!.
The banksters are desperate. JPM is shorting for its life. I short JPM!.
And how many times in the last 3 years someone said here that the banksters were "desperate"?????
chinese may have enough au for now, therefore, premium is 8%. also cny had been lower wrt au lately, it is expanse for chinese to buy. usd is strong due to jpy and euro.
One has to wonder how silver could be down with Russians APCs publicly entering the Donbass region... but then you think for a minute and you realize that the CME is in charge of the fixing: like having a wolf looking after your sheep.
Guess Oil about to get it then?, why have they left that positive?
Oil is one of the cartels that run the world. The US dollar is backed by oil (mainly by the military muscle that keeps the Saudi 'royals' in power and other rivals down around the world)
There will never be a legitimate market price for PMs, or any commodity for that matter, as long as they can be re-hypothicated several times over and contracts can be written at will for a product that doesn't exist.
Preach it, Doc!
Didn't work from 2001-2008. What's different this time?
These psychopaths have enslaved the world through their fiat 'money' system.
Instead of barking out orders to their slaves, or sending written orders to their foremen to be carried out by the slaves . . . . they use little pieces of printed green paper (and now the digitial equivalent - including fake 'derivatives')
But its all slavery in the end.
The "games" in PMs are back on most likely because of this: http://www.zerohedge.com/news/2014-08-14/putin-says-petrodollar-must-die-dollar-monopoly-energy-trade-damaging-russias-econom
Manipulating the "price" of PMs is all about protecting the $.
PM price in dollars will be irrelevant if the BRICs trade oil in their own currencies. However, if everyone keeps printing we are all going to see hyperinflation in essentials.
Settling international trade in PMs, oil, coal, or some other commodity is a good idea, fiat is fine if the government can be trusted to let interest rates reflect the true cost of capital. Artificially suppressing interest rates says it all...
Case closed. We are all living in some sick contrarian existence. Stock markets should tank but keep rising like they're on crack, while gold prices, which should be blasting into orbit, are well off their 4 year highs. Our friggin nobel peace prize winning president has us on the precipice of world war 3 while gods chosen people are turning out to be the worst manifestations of the devil himself these days than in all history of the world. What gives? How does this end well?
Define "well?"
...and for whom you are talking about.
My avatar, Bizarro World, Htrae..explains it perfectly
ahh, feels like old times.
Sell all float manipulation scams (AMZN, NFLX, TSLA, LNKD, etc) and buy gold (or GLD because it creates indirect physical v demand as new baskets are created). Convert the bubble of promises for earnings next decade into cash today and take advantage of the shakedowns while using their bubble against b then. If all the readers of this website exited obvious bubbles for cash and gold, the abuse would fail.
The problem being that many around here exited those positions at the end of 2013.
Then makes sure friends and family do... The way to end the games forever to is force BubbleMoney claims on real assets. There financial sector will go into internal war with itself...
If only all friends and family would listen to us and not teevee. So many sheep...so little time.
IridiumRebel: "If only all friends and family would listen to us and not teevee. So many sheep...so little time."
Ain't that the truth. I gave one family member a very basic book on money/banking/PMs 2 years ago. Ever once in awhile I ask him if he's finished it so we can discuss it together. He always says "I've been too busy."
Of course, he's not too busy to play golf, play racketball, play in a 3-on-3 basketball tournament, watch various crap on t.v. for hours each week, etc.
http://www.amazon.com/Dishonest-Money-Financing-Road-Ruin-ebook/dp/B004P...
Wanting to make it as simple as possible, . . . I've given other family members a freakin' 30 minute cartoon to watch. A lot of them have been 'too busy' to watch That. It seems that many people really would rather just put their heads in the sand when it comes to dealing with reality. Oh well, we can only just keep on trying to reach them and move on to someone more open to the truth.
http://www.amazon.com/The-American-Dream-Fighting-Stupid/dp/B0051BNVLI/r...
(The resources linked to above might be of use to others for informing their friends & family. I've actually found smart young people in their 20s to be more receptive. You've gotta get through the years of brainwashing in 'schools' that have turned their brains to mush, but those who have been out there and are working know they are being screwed over.)
+1000
Well, that's a relief. I was beginning to think they'd lost their touch.
Gold is like the Riots. Takes a long time to build a business up and only a few seconds to burn it DOWN to the ground.
This should be stickied at the top to point out the absurdity... we are down almost $20 in gold, over 1%, on what exactly? This is just so fucking senseless... meanwhile silver is down 1.5% which is even more senseless than that. How can anyone in their right mind not see this totally blantant, and daily, manipulation?
Traitor Dan and his band of merry numb nuts would likely tell you that what happened this morning at 8am EDT was just normal trading. Someone woke up and decided that they no longer wanted to own those smelly decrepit gold and silver contracts so they just put them out like the trash on the curb, all at once, with no concern for getting the best price for their junk.
That's how they roll in Traitor Dan's world.
Traitor Dan.....nice one. He was talking shit about how "gold bugs just want bad news and that is despicable". How about how he and his "industry" are fucking up the world and ruining generations of people. Never hear about that on Traitor dans blog.
The land of decpition by a few Bankers.
was waiting for them to continue their scam.
Hmmm, like the whole fucking mess this world is in. Fubar ...defies everything I have come to understand as logical with balance via a force with an a posing force. The new force same as the old- bankers, only this go around is leading to big mess-WWIII.
Back the truck up!
A VERY large number of GLD call contracts would have gone into the money had the rational reaction to the Ukraine escalation take place. So, they HAD to slam it down. There's been huge and building August OI. Looks like the BB have been doing calendar spreads, so they just need to keep it repressed a few more days...
Wondering how these manipulators are not taken to justice. Try to do that for any stock and see the reactions.
These are fractionally-reserved paper futures contracts which can never be delivered on. And the players don't even WANT real gold. This is BETTING, plain and simple, and bets should NEVER be allowed to influence the price of the real metal.
This will continue until every ounce of real gold is in hands that want to keep it and pass it on to their kids.
My dealer complains every time silver is below 20. Wonder when he'll quit selling or add premium as price hits 18..17...16.....and then 15
The SEC staff should be taken out behind the chemical sheds and shot.
and the CFTC should be stuffed head first into a portapotty tank on a really hot day.
Well if there is one thing we can all look forward to, it's the fact that Eric King at KWN will be busy today telling us he has the latest three fascinating charts, and an interview with Snidegrass Snipleheimer that will shock all the listeners.
they're just testing out the new silver rigging mechanism, successful test so far.
$20 ass whoopin
Why is the 30Y treasury moving in tandem with the S&P again? How do markets maintain this schizophrenia?
Said this 2 weeks ago...
Orchestrated sell off in stocks FOR:
Tame 10Y CHECK , Get Oil under 100 CHECK, Tame & Control Precious Metals CHECK
And now they sneak it back up..this going on for 4 years is proof positive the Fed is actively interfering in the markets. Watch the S&P take off again and once oil hits the 105 range and gold starts making moves they will do it again with S&P around 2100 or something
Always at 8 o'clock sharp.You'd think they'd spice it up a bit. But they arrogantly do so at the same time like they're untouchable. Any word on these criminals with the new silver fixing? I thought it was suppose to start today...
They are rather untouchable. As long as miners persist in selling on the comex and funds continue playing their game even while getting regularly fleeced, it will go on as a price-setting mechanism.
We should watch for premiums on real physical gold (outside the US) to start persistently rising above comex "prices" after the next fear-induced crisis or systemic failure drives people into gold again.
It's temporary. No need to panic. I buy paper gold and sell short term at the money calls so I just pocketed someone's money and I get to keep the shares. Winning!
It's a Sicilian message. It's about discouragement, it's about futility.
I am not fazed. BTFD. Fuck these assholes.
I think this is because they are worried about how things look for the price graph of the week. The pattern I've seen is that the Friday close cannot be shown to be trending higher because that is what is used by Technical Analysts to determine if there is an uptrend.
SEC, you can go back to porn watching and ignore this content.
SEC = Serial Evil Corruptors.
Well whoever sold the fuck out of that this morning should get fucked here