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The Gold & Silver Morning Smackdown Is Back

Tyler Durden's picture




 

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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Fri, 08/15/2014 - 08:27 | 5096643 bullionbaron
bullionbaron's picture

Why no mention of the smackups the last 3 days in a row? https://twitter.com/BullionBaron/status/499899289603031040

Fri, 08/15/2014 - 08:29 | 5096651 Latitude25
Latitude25's picture

Because it was a steady upward grind the last few days and not an all at once event like this morning.

Fri, 08/15/2014 - 08:35 | 5096670 Took Red Pill
Took Red Pill's picture

Stay the course, stackers. They can't keep it down much longer.

Fri, 08/15/2014 - 08:38 | 5096682 power steering
power steering's picture

Buy MOAR you need to average in those $1800 buys

Fri, 08/15/2014 - 09:08 | 5096797 kliguy38
kliguy38's picture

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

Fri, 08/15/2014 - 09:17 | 5096846 actionjacksonbrownie
actionjacksonbrownie's picture

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.

Fri, 08/15/2014 - 09:26 | 5096893 AnonymousCitizen
AnonymousCitizen's picture

I'm confused.

Do we BTFD? Or avoid CTFK?

Fri, 08/15/2014 - 09:27 | 5096898 SilverIsKing
SilverIsKing's picture

The old triple dip. Hadn't thought of THAT one.

Fri, 08/15/2014 - 09:55 | 5096989 philipat
philipat's picture

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".

Fri, 08/15/2014 - 09:59 | 5097123 fockewulf190
fockewulf190's picture

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.

Fri, 08/15/2014 - 10:06 | 5097178 philipat
philipat's picture

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!!!

Fri, 08/15/2014 - 10:42 | 5097428 MalteseFalcon
MalteseFalcon's picture

New article title: "Gold Smacked Down to Lower Portion of Trading Range"

Fri, 08/15/2014 - 10:14 | 5097240 Oracle 911
Oracle 911's picture

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.

Fri, 08/15/2014 - 10:22 | 5097296 bwh1214
bwh1214's picture

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?

Fri, 08/15/2014 - 10:28 | 5097329 philipat
philipat's picture

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....

Fri, 08/15/2014 - 11:08 | 5097622 Oracle 911
Oracle 911's picture

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 .

Fri, 08/15/2014 - 11:29 | 5097816 bwh1214
bwh1214's picture

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. 

Fri, 08/15/2014 - 15:00 | 5098979 Oracle 911
Oracle 911's picture

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.

Fri, 08/15/2014 - 16:17 | 5099458 Oracle 911
Oracle 911's picture

For the down-voter: Oh It seems like I found a thoughtless hater and Russian basher.

Fri, 08/15/2014 - 16:26 | 5099510 bwh1214
bwh1214's picture

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.

Sat, 08/16/2014 - 03:16 | 5101323 Oracle 911
Oracle 911's picture

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.

Fri, 08/15/2014 - 11:35 | 5097853 bwh1214
bwh1214's picture

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.

Fri, 08/15/2014 - 10:23 | 5097282 Keyser
Keyser's picture

Links to support your claim, please... 

Fri, 08/15/2014 - 13:36 | 5098568 Burticus
Burticus's picture

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.

Fri, 08/15/2014 - 08:43 | 5096699 oak
oak's picture

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.

Fri, 08/15/2014 - 09:55 | 5097094 Bendromeda Strain
Bendromeda Strain's picture

How else do you think Bloomberg gets away calling silver a $5T market? These smackdowns generate spendy paper metal. Until they don't.

Fri, 08/15/2014 - 10:44 | 5097445 magnumpk
magnumpk's picture

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.

Fri, 08/15/2014 - 08:30 | 5096658 MeMongo
MeMongo's picture

Negativity just kind of makes a guy feel good!

Fri, 08/15/2014 - 08:35 | 5096673 SoilMyselfRotten
SoilMyselfRotten's picture

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.

Fri, 08/15/2014 - 11:03 | 5097623 Frank N. Beans
Frank N. Beans's picture

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. 

 

Fri, 08/15/2014 - 08:44 | 5096706 bullionbaron
bullionbaron's picture

Why is my comment getting manipulated with all these smackdown votes?

Fri, 08/15/2014 - 09:08 | 5096798 Bossman1967
Bossman1967's picture

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

Fri, 08/15/2014 - 09:57 | 5097115 Bendromeda Strain
Bendromeda Strain's picture

Watch the printing presses if you want to see the real smack in the system.

Fri, 08/15/2014 - 11:34 | 5097843 CHX
CHX's picture

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... 

Fri, 08/15/2014 - 08:28 | 5096650 bentaxle
bentaxle's picture

Was beginning to think tptb may no longer be worried. Reassuring.

Fri, 08/15/2014 - 09:24 | 5096837 HamFistedIdiot
HamFistedIdiot's picture

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

Fri, 08/15/2014 - 10:11 | 5097210 Harry Dong
Harry Dong's picture

Quote has not been verified. But does make perfect sense.

Fri, 08/15/2014 - 13:25 | 5098509 Burticus
Burticus's picture

“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

Fri, 08/15/2014 - 08:30 | 5096652 fonzannoon
fonzannoon's picture

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.

Fri, 08/15/2014 - 08:32 | 5096663 MeMongo
MeMongo's picture

Sure fonzie hang onto that!

Fri, 08/15/2014 - 08:40 | 5096690 power steering
power steering's picture

Back to $50 next week......................arrggghh

Fri, 08/15/2014 - 09:21 | 5096871 HamFistedIdiot
HamFistedIdiot's picture

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.

Fri, 08/15/2014 - 08:34 | 5096667 Latitude25
Latitude25's picture

Am I the only one who apprecieates your humor?

Fri, 08/15/2014 - 08:42 | 5096695 agstacks
agstacks's picture

Nope, fonz is one of my favorite posters.

Fri, 08/15/2014 - 08:52 | 5096727 SilverIsMoney
SilverIsMoney's picture

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.

Fri, 08/15/2014 - 09:22 | 5096874 quasimodo
quasimodo's picture

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

Fri, 08/15/2014 - 08:57 | 5096750 Greenskeeper_Carl
Greenskeeper_Carl's picture

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"

Fri, 08/15/2014 - 08:29 | 5096656 jmcadg
jmcadg's picture

The new silver fix is in!

Fri, 08/15/2014 - 08:58 | 5096749 SilverIsKing
SilverIsKing's picture

They fixed the fix? Great news.

Fri, 08/15/2014 - 08:30 | 5096657 agstacks
agstacks's picture

But, but, but, Bix Wier said the silver fix was over and we were going to the moon?

Fri, 08/15/2014 - 09:23 | 5096880 quasimodo
quasimodo's picture

Bix can go blow goats, he knows as much as many of the more astute posters that lurk here.

Fri, 08/15/2014 - 14:11 | 5098746 Michigander
Michigander's picture

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!

Fri, 08/15/2014 - 08:30 | 5096660 jubber
jubber's picture

and US$ down? and Oil up? just no end to this shit

Fri, 08/15/2014 - 08:31 | 5096661 Cognitive Dissonance
Cognitive Dissonance's picture

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.

Fri, 08/15/2014 - 08:35 | 5096671 fonzannoon
fonzannoon's picture

"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

Fri, 08/15/2014 - 08:44 | 5096705 LawsofPhysics
LawsofPhysics's picture

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...

Fri, 08/15/2014 - 08:32 | 5096665 Latitude25
Latitude25's picture

The silver fix is irrelevant to silver manipulation.

http://bullionbullscanada.com/

Fri, 08/15/2014 - 08:33 | 5096669 coulous
coulous's picture

New fix but old same mini-puke !

Fri, 08/15/2014 - 08:35 | 5096672 katchum
katchum's picture

Maybe the banks were manipulating the silver price fix upwards instead of downwards?

Fri, 08/15/2014 - 08:36 | 5096676 Tigg47
Tigg47's picture

Banksters are getting more and more desperate. Endgame getting closer now. Loving it.

Fri, 08/15/2014 - 08:48 | 5096689 LawsofPhysics
LawsofPhysics's picture

My father has been saying that since 1971.  His father had been saying it since 1913.

we all have been acumulating PMs...

Fri, 08/15/2014 - 09:30 | 5096922 actionjacksonbrownie
actionjacksonbrownie's picture

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.

Fri, 08/15/2014 - 08:36 | 5096678 1stepcloser
1stepcloser's picture

new boss, same as the old boss

Fri, 08/15/2014 - 08:40 | 5096686 LawsofPhysics
LawsofPhysics's picture

If only the working stiff like me could actually buy those dips...

Fri, 08/15/2014 - 08:40 | 5096687 IronShield
IronShield's picture

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.

Fri, 08/15/2014 - 08:41 | 5096688 Notsobadwlad
Notsobadwlad's picture

Russia escalating?

One wonders why one does not consider the NATO/US backed bombing runs and invasion of the eastern Ukraine "escalation"?!?

Fri, 08/15/2014 - 09:43 | 5096996 HardAssets
HardAssets's picture

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 ! "

Fri, 08/15/2014 - 08:41 | 5096691 jubber
jubber's picture

so I thought Comex had the least Silver in stock ever, and Shanghai had an 8% premium to spot???????????

Fri, 08/15/2014 - 08:47 | 5096713 Tigg47
Tigg47's picture

The banksters are desperate. JPM is shorting for its life. I short JPM!.

 

Fri, 08/15/2014 - 08:48 | 5096714 Tigg47
Tigg47's picture

The banksters are desperate. JPM is shorting for its life. I short JPM!.

 

Fri, 08/15/2014 - 10:05 | 5097176 cpnscarlet
cpnscarlet's picture

And how many times in the last 3 years someone said here that the banksters were "desperate"?????

Fri, 08/15/2014 - 09:05 | 5096782 oak
oak's picture

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.

Fri, 08/15/2014 - 08:42 | 5096692 rayban
rayban's picture

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.

Fri, 08/15/2014 - 08:42 | 5096697 jubber
jubber's picture

Guess Oil about to get it then?, why have they left that positive?

Fri, 08/15/2014 - 09:48 | 5097021 HardAssets
HardAssets's picture

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)

Fri, 08/15/2014 - 08:42 | 5096701 Dr. Engali
Dr. Engali's picture

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.

Fri, 08/15/2014 - 09:12 | 5096819 F.A. Hayek
F.A. Hayek's picture

Preach it, Doc!

Fri, 08/15/2014 - 09:25 | 5096888 disabledvet
disabledvet's picture

Didn't work from 2001-2008. What's different this time?

Fri, 08/15/2014 - 10:03 | 5097152 HardAssets
HardAssets's picture

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.

Fri, 08/15/2014 - 08:46 | 5096709 Being Free
Being Free's picture

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 $.

Fri, 08/15/2014 - 09:00 | 5096712 LawsofPhysics
LawsofPhysics's picture

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...

Fri, 08/15/2014 - 08:47 | 5096715 intric8
intric8's picture

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?

Fri, 08/15/2014 - 09:01 | 5096768 SilverIsKing
SilverIsKing's picture

Define "well?"

Fri, 08/15/2014 - 09:02 | 5096774 LawsofPhysics
LawsofPhysics's picture

...and for whom you are talking about.

Fri, 08/15/2014 - 09:09 | 5096801 ziggy59
ziggy59's picture

My avatar, Bizarro World, Htrae..explains it perfectly

Fri, 08/15/2014 - 08:48 | 5096719 astoriajoe
astoriajoe's picture

ahh, feels like old times.

Fri, 08/15/2014 - 08:48 | 5096721 techstrategy
techstrategy's picture

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.

Fri, 08/15/2014 - 09:01 | 5096771 LawsofPhysics
LawsofPhysics's picture

The problem being that many around here exited those positions at the end of 2013. 

Fri, 08/15/2014 - 09:19 | 5096861 techstrategy
techstrategy's picture

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...

Fri, 08/15/2014 - 09:41 | 5096994 IridiumRebel
IridiumRebel's picture

If only all friends and family would listen to us and not teevee. So many sheep...so little time.

Fri, 08/15/2014 - 10:55 | 5097542 HardAssets
HardAssets's picture

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.)

Fri, 08/15/2014 - 10:06 | 5097180 cpnscarlet
cpnscarlet's picture

+1000

Fri, 08/15/2014 - 08:52 | 5096725 Who was that ma...
Who was that masked man's picture

Well, that's a relief.  I was beginning to think they'd lost their touch.

Fri, 08/15/2014 - 08:54 | 5096735 Seasmoke
Seasmoke's picture

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. 

Fri, 08/15/2014 - 08:59 | 5096755 SilverIsMoney
SilverIsMoney's picture

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?

Fri, 08/15/2014 - 09:06 | 5096786 SilverIsKing
SilverIsKing's picture

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.

Fri, 08/15/2014 - 09:15 | 5096831 whopper
whopper's picture

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.

Fri, 08/15/2014 - 08:58 | 5096758 MFL5591
MFL5591's picture

The land of decpition by a few Bankers. 

Fri, 08/15/2014 - 08:58 | 5096759 vyeung
vyeung's picture

was waiting for them to continue their scam.

Fri, 08/15/2014 - 09:03 | 5096777 new game
new game's picture

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.

Fri, 08/15/2014 - 09:11 | 5096810 F.A. Hayek
F.A. Hayek's picture

Back the truck up!

Fri, 08/15/2014 - 09:18 | 5096845 techstrategy
techstrategy's picture

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...

Fri, 08/15/2014 - 09:18 | 5096856 sno55@me.com
sno55@me.com's picture

Wondering how these manipulators are not taken to justice. Try to do that for any stock and see the reactions. 

Fri, 08/15/2014 - 09:21 | 5096868 Kreditanstalt
Kreditanstalt's picture

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.

Fri, 08/15/2014 - 09:47 | 5097023 Harry Dong
Harry Dong's picture

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

Fri, 08/15/2014 - 09:23 | 5096882 Kreditanstalt
Kreditanstalt's picture

The SEC staff should be taken out behind the chemical sheds and shot.

Fri, 08/15/2014 - 10:37 | 5097402 Conax
Conax's picture

and the CFTC should be stuffed head first into a portapotty tank on a really hot day.

Fri, 08/15/2014 - 09:28 | 5096911 quasimodo
quasimodo's picture

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.

Fri, 08/15/2014 - 09:31 | 5096929 smc1982
smc1982's picture

they're just testing out the new silver rigging mechanism, successful test so far.

Fri, 08/15/2014 - 09:37 | 5096978 Billy Sol Estes
Billy Sol Estes's picture

$20 ass whoopin

Fri, 08/15/2014 - 09:58 | 5097127 juggalo1
juggalo1's picture

Why is the 30Y treasury moving in tandem with the S&P again?  How do markets maintain this schizophrenia?

Fri, 08/15/2014 - 10:13 | 5097238 John McCloy
John McCloy's picture

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

Fri, 08/15/2014 - 10:22 | 5097298 AgeOfJefferson
AgeOfJefferson's picture

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...

Fri, 08/15/2014 - 20:43 | 5100549 Kreditanstalt
Kreditanstalt's picture

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.

Fri, 08/15/2014 - 10:28 | 5097341 Raoul_Luke
Raoul_Luke's picture

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!

Fri, 08/15/2014 - 10:30 | 5097357 Conax
Conax's picture

It's a Sicilian message. It's about discouragement, it's about futility.

I am not fazed.  BTFD.  Fuck these assholes.

Fri, 08/15/2014 - 10:48 | 5097486 Dr.Engineer
Dr.Engineer's picture

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.

Fri, 08/15/2014 - 10:52 | 5097516 AgeOfJefferson
AgeOfJefferson's picture

SEC = Serial Evil Corruptors.

Fri, 08/15/2014 - 10:56 | 5097561 jubber
jubber's picture

Well whoever sold the fuck out of that this morning should get fucked here

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