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Dear CFTC: Here Is Today's Illegal "Spoofing" In Gold Futures

Tyler Durden's picture




 

Dear CFTC,

It's us again and as promised, we're here to lend you a helping hand in your very serious quest to eliminate all vesitges of illegal manipulation from our beloved markets. Today, we bring you 3 examples of spoofing in gold futures which, you'll note, aren't difficult to spot if one is willing to expend the tiniest effort. 

Without further ado, here (courtesy of Nanex) are several examples in the June 2015 Comex Gold Futures this morning. All times are Eastern Daylight. In each of these cases, no trades (or a tiny few) executed against the large "spoof" order. You can see how prices were influenced by the sudden appearance (and disappearance) of these large, outsized orders.

1. June 2015 Comex Gold

Note how large buy and sell orders push prices up and down.

2. Another set of instances appear about 50 minutes after the first set (shown in chart 1).

3. Another set of spoofing instances appear about an hour after the second set (shown in chart 2).

You're welcome CFTC — it's the least we can do.

Best wishes,

Zero Hedge

Reminder: We won't stop this until you are forced to address the glaring hypocrisy and utter incompetence of everyone involved in the regulation of market microstructure.

 

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Tue, 04/28/2015 - 16:51 | 6040090 SandiaMan
SandiaMan's picture

Amen Brother!

Tue, 04/28/2015 - 16:53 | 6040101 Deathrips
Deathrips's picture

Look at all that digital gold ...i cant eat.

 

Stack on!!

 

RIPS

Tue, 04/28/2015 - 16:57 | 6040114 BuddyEffed
BuddyEffed's picture

Please look for Twitter spoof on the morrow.

Tue, 04/28/2015 - 17:00 | 6040117 back to basics
back to basics's picture

ZH should have photoshopped some 36D tits into that chart, it's the only way it would get their attention. 

Tue, 04/28/2015 - 17:01 | 6040124 AIIB
AIIB's picture

The CFTC only gets turned by prepubscent penises

Tue, 04/28/2015 - 17:18 | 6040172 BuddyEffed
BuddyEffed's picture

I can see this HFT spoofing analysis morphing into a weekly guest poster thing, while everybody and their brothers use the comments for their own conspiracy theories and rationales for specific stocks.

Am still looking for an update/status/fond memories about CYNK too.

Tue, 04/28/2015 - 17:57 | 6040367 negative rates
negative rates's picture

I don't think they are listening, or care much for that matter.

Tue, 04/28/2015 - 19:22 | 6040703 Ballin D
Ballin D's picture

Tyler, if this is going to be a daily thing, keep accruing links of prior day's posts somewhere prominent with an indication of 'not prosecuted' vs 'prosecuted' to highlight the long run hypocracy.

Tue, 04/28/2015 - 20:49 | 6040989 seek
seek's picture

There have been many instances that provide proof that ZH is watched by TPTB or faux regulating authorities, and sometimes the site is even mentioned by name, or like Prince, by the euphamism of "a fringe investment blog." As these asshats like to feign incompetence and use a lack of knowledge of wrongdoing as a cover, ZH pointing out stuff like this backs them into a corner because the lose the ability to deny.

So they are listening, and they do care, but for the wrong reasons (getting caught rather than doing their job.)

Wed, 04/29/2015 - 07:50 | 6041985 Nage42
Nage42's picture

Actually, it's quite more likely that the concept of "acclimatisation" is at work here.  It is important to have the naked and nasty truth presented in a clear and rational way, so that gradually as it becomes mainstream, it can be pointed out as not a new revelation, thus people have sort of "eased into the outrage."

So it's like you start with raving lunatics (people who quite possibly have a valid point but can't enunciate it well: think the guy with his willy hanging out of his rat-infested pants) reaching a very small audience that "the government will take everything from you... and infect you with mind-control juices!!!!11!!one!"

Proceed to quite eccentric people (who definitely have a point, but can't present themselves well due to poor public speaking technique, tonality, or public perception, the likes of: Bill Murphy ala GATA's case to CFTC, or Max Keiser when he’s excited… they are just unpleasant to listen to… or Jesse Ventura, although I like his stuff, I can see how an average person would write him off as a “blowhard bully”), where specific/relevant information is presented, but the subtleties cannot be picked up by the layman easily, or there are jumps in the logic chain that a person familiar with the topic can follow, but that a layman cannot consciously or clearly see the links (their subconscious mind will link it later).

Next you bring in someone who is really quite “normal” and presentable to bring in the topic in a way that is clearly, solidly presented, showing the whole shooting match (i.e., Chris Martenson of Crash Course, or Ron Paul 10 years back when he’s talking about the FED), so that calmly, clearly, and comprehensively the topic is presented in a way that a layman cannot but see

So the next step is that there is paradigm change in response to this topic, right?!?  Wrong.  It has been brought forward in a structured way so that slowly and carefully the layman can realise that not only “is this the true case,” but that “and it’s been this way for a LONG time!”  This is a process wherein the average man can be fed something intolerable in a way that he can tolerate it… so that he can take it in as “this is just part of the environment that you have to get with and move on.”

 

Of course there will be a small number of individuals that will bypass their subjective bias of not liking the personality/presentation of the speaker up at the “eccentric” stage, and make personal change, but it’s not how public opinion is converted into ground-swell action.  I’m pretty sure the elements of society that are interested in having things continue in the status quo are more than familiar with this dynamic and shepherd it along so that mainstream can be held to the script and acclimatise to their role in towing the line…

 

 

Just my 2 cents worth.

 

Nage42

Tue, 04/28/2015 - 18:02 | 6040392 Pool Shark
Pool Shark's picture

 

 

CYNK?

 

Oh, that's so 'last year.'

[Unless, you're Jim Cramer, who probably went down holding thousands of shares...]

 

Move along; nothing to see here...

 

 

Tue, 04/28/2015 - 17:04 | 6040131 actionjacksonbrownie
actionjacksonbrownie's picture

Now let's see last Friday's slamdown chart as Citi was finalizing it's agreement with Venezuela and paying a little over $700/oz. for Venezuela's gold.

 

And just how much of that "illegal manipulation" was courtesy of Citi?

Wed, 04/29/2015 - 00:04 | 6041492 RaceToTheBottom
RaceToTheBottom's picture

I am sure the goal was just to provide liquidity.

These are reputable WS firms we are talking about, here.  You don't think that anything underhanded is going on, do you?

Tue, 04/28/2015 - 17:11 | 6040162 ZH Snob
ZH Snob's picture

Tyler is the CFTC's best friend.  but do they even send a Christmas card?

Tue, 04/28/2015 - 17:43 | 6040318 williambanzai7
williambanzai7's picture

Tue, 04/28/2015 - 18:29 | 6040494 raywolf
raywolf's picture

i put in the max sell order 2 points above the S&P E mini - every day to protest this CFTC nonsense.....

 

 

Wed, 04/29/2015 - 04:00 | 6041752 legend247
legend247's picture

Since I started freelancing I've been bringing in $90 bucks/h… I sit at home and i am doing my work from my laptop. Th? best thing is that i get more time to spent with my family and with my kids and in the same time i can earn enough to support them... You can do it too. Start here... www.globe-report.com

Wed, 04/29/2015 - 04:08 | 6041761 Blano
Blano's picture

Oh dear God not you again......

TYLER'S!!!!!!!!

Tue, 04/28/2015 - 16:52 | 6040096 LawsofPhysics
LawsofPhysics's picture

LOL!!!  I am sure they will get right on this...

All animals are created equal, it's just that some animals are "more equal" than others...

Tue, 04/28/2015 - 16:57 | 6040102 Chuck Knoblauch
Chuck Knoblauch's picture

It will continue until China stops it.

I hope China takes every ounce from the Vatican's vaults at these prices.

Tue, 04/28/2015 - 17:10 | 6040154 fleur wriggley
fleur wriggley's picture

right on !!!!!!!!!!!!!!!!!!!!!!

Tue, 04/28/2015 - 16:57 | 6040109 ronron
ronron's picture

thanks for the help. sincerly Bart.

Tue, 04/28/2015 - 17:02 | 6040126 Pancho de Villa
Pancho de Villa's picture

Whatever happened to that Chilton fella'? Thought he was gonna ride in like the Lone Ranger, and get his ass kicked... lol

Tue, 04/28/2015 - 18:48 | 6040562 ronron
ronron's picture

he open'd a hair salon.

Tue, 04/28/2015 - 23:59 | 6041481 RaceToTheBottom
RaceToTheBottom's picture

He went to a HFT firm.

Sold out like a politician.

Wed, 04/29/2015 - 01:33 | 6041633 Colonel Klink
Colonel Klink's picture

He revealed himself to be a cocksucker like all the rest of them.

Tue, 04/28/2015 - 17:04 | 6040132 czarangelus
czarangelus's picture

You guys are actually sending them this evidence, certified mail, and keeping a copy and the receipt, right?

Tue, 04/28/2015 - 18:55 | 6040610 ronron
ronron's picture

GATA has been screaming for years. it's fucking fun to see it in real time daily at the hedge. they got it. oh ya.

Tue, 04/28/2015 - 20:01 | 6040851 GRDguy
GRDguy's picture

Let's see:  GATA has been tryin' to point out the gold/silver manipulations for 15 years. That in itself shows just how important gold and silver are to the powers-that-be.

It took 10 years of SEC ignorance before the fall of Madoff.

It took 5 years of silence to keep what Sarao was doing from becoming pubic, thus showing how JPMorgan, Goldman-Sachs and the other were lyin' and stealin' electronically.

Maybe we're making some progress.  Nah.  Sometimes The Dragon Wins.

Wed, 04/29/2015 - 08:00 | 6042002 Nage42
Nage42's picture

Nail hits head.

 

If someone has "passionately been trying to do something for 15 years," and not actually achieving something, then we can say that their goal is not to achieve something, but to be percieved as someone who is trying passionately...

Change your inputs and methods until you get the outcomes you want.

I mean really... how hard can it be for an investigator that knows how to socially engineer and do real ground work to get inside and get actual forensic-quality evidence that would hold up in a class action suit?

I'm being honest here... if after more than _2_ years (let alone 15!), if a group is not achieving it's suppose charter, why hasn't new leadership been appointed in an effort to actually achive, rather than sustain the same methodology that has [QED] failed to achieve an outcome?

Is it not fair to demand results from people?

Tue, 04/28/2015 - 20:07 | 6040865 ronron
ronron's picture

and if the Durdens put it up? you got mail. forever. ha.

Tue, 04/28/2015 - 17:05 | 6040136 GRDguy
GRDguy's picture

Another reason for the constant manipulation of gold and silver is not only to subsidize Apple and other high-tech companies that use gold and silver (at the expense of the mining industry), but like a gasoline gauge in your car that bounces around 1/4 full, the sociopaths don't want you figuring out that you're about to sputter out.

Tue, 04/28/2015 - 17:09 | 6040149 agent default
agent default's picture

So someone is learning from Sarao?  Time for CFTC to play whackamole.

Tue, 04/28/2015 - 17:09 | 6040152 dcohen
dcohen's picture

Wonder if there is any spoofing for Twitter - shares have plunged 22 % after trading halt.

Tue, 04/28/2015 - 17:15 | 6040175 ZH Snob
ZH Snob's picture

I doubt it.  everyone is finally realizing how useless Twitter really is.

Tue, 04/28/2015 - 17:23 | 6040207 Bastiat
Bastiat's picture

Yeah that had a big miss.  Maybe there's concern about them making money.  I can't believe I said that.

Tue, 04/28/2015 - 17:21 | 6040195 Weaponized Innocense
Weaponized Innocense's picture

(((- -)))

Tue, 04/28/2015 - 17:27 | 6040225 orangegeek
orangegeek's picture

Dear CFTC,

 

You do fuck all.

Signed, the Market

 

Dear CME,

Fix your shitbag exchanges and stop this fucking fraud, just like you did last September when you ended HFT.

Signed, the Market

Tue, 04/28/2015 - 17:30 | 6040240 NoWayJose
NoWayJose's picture

Look up any and every email address on the CFTC web site - and forward these every day.

Tue, 04/28/2015 - 17:49 | 6040339 orez65
orez65's picture

"We won't stop this until you are forced to address the glaring hypocrisy and utter incompetence of everyone involved in the regulation of market microstructure."

THANK YOU ZERO HEDGE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Tue, 04/28/2015 - 18:02 | 6040394 Herdee
Herdee's picture

I don't know why the morons at the CFTC can't use the NSA to find out the truth.But then again there might be a good reason for not wanting to find it.After all,it's gold.

Tue, 04/28/2015 - 18:13 | 6040433 RMolineaux
RMolineaux's picture

Tax the bastards !

Tue, 04/28/2015 - 18:25 | 6040481 Born2Bwired
Born2Bwired's picture

Thanks keep it up! Eventually something will happen...

Tue, 04/28/2015 - 18:32 | 6040511 The Duke of New...
The Duke of New York A No.1's picture

Who cares about Gold futures manipulation ...... I just wanna know who does Bart Chiltons hair dammit!

Tue, 04/28/2015 - 18:39 | 6040544 venturen
venturen's picture

I got it....Spoofing is like the ultimate Cock Tease!

Tue, 04/28/2015 - 18:40 | 6040551 venturen
venturen's picture

A nail gun truck is likely to run into the nanex facility!

Tue, 04/28/2015 - 19:00 | 6040620 booboo
booboo's picture

Next up, a law forbidding the use of public information by a private serf or collection thereof to tease, cajole, make fun of, laugh at, fart in general direction or any other thing used in an effort to embarrass a public regulator, official, King, Queen, Prince of the America.

 

You probably think I am kidding.

Tue, 04/28/2015 - 19:10 | 6040652 DoolieDoink
DoolieDoink's picture

Does anyone know how large or how many tons have to be sold to do this ?

Wed, 04/29/2015 - 09:00 | 6042196 Quinvarius
Quinvarius's picture

None for spoofing, unless your orders are too slow or entered wrong, and someone actually takes you up on your offer.  The gold lost is from people who think the price is real and should be transacted at.  The end result is a faster transfer of gold from ignorant to knowing.  The faster the better.  When every last ounce is sold low, thanks to this stupidity, the market will find a price much higher than it should and all at once.

Tue, 04/28/2015 - 19:18 | 6040681 Seasmoke
Seasmoke's picture

Viva ZeroHedge !!!!

Tue, 04/28/2015 - 19:21 | 6040699 essence
essence's picture

Tyler

Next time, CC Martin Armstrong & Doug Casey.
They're slow learners.

Tue, 04/28/2015 - 20:21 | 6040907 ronron
ronron's picture

ther is only one down arrow on this thread. layoffs? not good for the gdp

Tue, 04/28/2015 - 20:33 | 6040939 TheReplacement
TheReplacement's picture

Dear Tylers,

We don't care.

Most very sincerely,

CTFC

Tue, 04/28/2015 - 21:03 | 6041039 Bunga Bunga
Bunga Bunga's picture

You can't them disturb in the middle of their pr0n session, can you?

Wed, 04/29/2015 - 00:29 | 6041526 onmail
onmail's picture

The good thing is : Gold is again moving east to China & India where billions of people want to own kilos of Gold each.

When there is no more gold left with west, what it will do. Well just like East India Company, it may again launch wars, topple governments, install puppets (with privy purse) & loot the Gold.

But hey , arn't they doing already , in the name of fighting terrorism with Al-Queda etc. , which are their own creation and meant for the purpose of creating (deliberate) chaos.

But west should know that Gold rich countries are now equipped with nukes, and we would be so happy to make wild wild west , wild wild waste for thousands of years.

Wed, 04/29/2015 - 02:54 | 6041695 Bear
Bear's picture

We see it every day ... Worth repeating

Wed, 04/29/2015 - 02:53 | 6041696 Bear
Bear's picture

We see it every day

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