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Gold & Silver Suddenly Slammed As Dollar Surges
Around 1030ET, The US Dollar suddenly went bid, driving broad-based commodity weakness. Silver had been creeping higher all morning but it appears someone wanted to keep it below its 50-day moving average and has thrown 1000s of contracts short at it, slamming the precious metal to the lows of the day... Gold also saw a sudden heavy volume monkey-hammering...
Silver back below 50DMA...
Gold slammed too...
Which all started as The USDollar went bid...
On the bright side, we asssume China will be backing up the truck at newly low prices...
Dear China, here is your chance to buy another 20 tons of gold at lower prices, signed BIS
Charts: Bloomberg
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No manipulation according to Armstrong.
The MoneyChangers are starting to lose control
The beginning of woes....
Gold ain't going to zero....your paper with the pretty pictures will.....on a long enough timeline.
Thank you Socrates. I love that you are able to forecast pure financial fraud and the dumping of millions of ounces of futures that is, of course, devoid of all human emotion because all responsible fiduciaries want to sell as much, as quickly, as possible.
Now pass me my stupid sauce for this sheeple sammich.
This is probably just an attempt to scare weak-handed bulls for now. And it came exactly as we found out China increased their gold reserve in July by another 19 tons.
The technical indicators MACD, RSI, ADX with +DI/-DI and the candlesticks are all bullish now for gold. It looks like gold is heading towards 1140-1170 USD/oz the coming weeks. So my view is that this is just a very weak attempt to scare away some bulls.
From 1140 USD/oz however, gold might start a new downturn again, maybe even towards and below 1000 USD/oz.
The technical indicators MACD, RSI, ADX with +DI/-DI and the candlesticks are all bullish now for gold. It looks like gold is heading towards 1140-1170 USD/oz the coming weeks. So my view is that this is just a very desperate attempt to scare away some bulls.
FIFY
"It looks like gold is heading towards 1140-1170 USD/oz"
Based on what testicle indicator? Number out of a hat? Darts? Or worse, opinion.
Smart, informed people started dumping the toilet paper
And things start to take shape, most likely USSA is preparing for war - they needed cheap oil to fill their strategic reserve till overflow levels, levels not seeen since - guess what! last World War!
If CBCacanada reports it - it means it is really a thick one ...
http://www.cbc.ca/news/business/oil-storage-tanks-filled-to-levels-not-s...
Lucifer you need to meet Jesuslovesyou.
Not at all - certainly he didn't enjoyed too much our last date. And I don't have any plans to change something for the next one, so if he doesn't
change his options and likes better to stay far 'cause i'm the same badass bastard ...
All the commodities are taking the big suck. It's just a good thing won't don't need any of that stuff to survive since stock certificates are quite tasty with enough ketchup.....
I am not sure whether it makes much sense replying to a simpleton like you are. But, ok, look: Gold is no commodity. Gold is money. China made its "bought 19 t of gold in July" shot today, someone else had to fire back in order to neutralize China's attack. Of course the insider banks made money on both moves, no matter what Sokrates means.
Tsk, your brilliance is blinding to such a simpleton such as myself. It's just so great that I've accidentally, since I'm a moron, been buying gold since it was $300 per oz, Plus the property I built my house on and all the nifty little things I've collected that have high barter potential. Yep, the complete idiot I am, I've wasted and continue to waste all my fiat buying physical gold, silver, platinum and palladium instead of throwing at the markets like a super genius. I guess I'll go back to my corner and drool awhile, admiring your obvious super awesomeness....
You are not a complete idiot but just a simpleton. Not judging, just an observation.
Ah yes, because knowing nothing about me, you know everything about me, must be nice.....
Ok, you are not a simpleton.
"The MoneyChangers are starting to lose control" 'starting' ha good one!
Today he noted that the PPT is imaginary.
His factual and historical analysis is suspect to say the least despite his diehard supporters here who ignore it.
The man is about as right and wrong as everyone else. I don't understand why he has such a following.
He also noted yesterday that the Fed is buying equities, fwiw.
yesterday's surge on thousands of contracts - normal
today's dump on thousand of contracts - manipulation
(or, someone made money yesterday and sold today for gains??????) OMG, the horror.
No, that isn't what happens. If you look and see when and how the smackdowns take place, you would know that. We are talking huge differences on the amount of contracts flushed all at once.
ZH has covered this issue many times in your 5 plus years here. How did you miss it?
You are right. But what you say is too complicated for simpletons.
Totally false. Many spikes have been on large contract buys and vice versa. Gold bugs will always cry manipulation when their investment drops and it's wave the magic wand time and claim no manipulation when it goes up. Samething happens with any stock investment. Just go to stocktwits and see any stock that drops is manipulation but when it goes up it's magically not. Show many any sustained yearly evidence of spikes down and spikes up resulting in what you claim, denoting blatant manipulation. You can't. You believe anything zerohedge spews, peter schiff etc who have been dead wrong on PM's, many with an invested interest in having gullible smucks buy gold and silver. There's always a small fraction of tin-foil hat, gullible, and an easily manipulated niche that will always exist and will be taken advantage of.
If you were foolish enough to buy PMs the past 5 years, when they were an obvious short, then you have no one to blame but your own gullibility and ignorance. Just like the people in the 80's who thought gold was going to the moon only to be wiped out. They too believed the dollar was going to 0. Many of them are now dead.
If you like your used toilet paper US$ you can keep your used toilet paper US$. Let us know in, say, a year, how it worked out.
Even some of the talking heads are admitting maniplation now. The evidence from GATA is so overwhelming that the only explantion for Armstrong's apparent stupidity is that he's paid off.
Not exactly true. Armstrong says all markets are manipulated. It's just that they can't manipulate them out of the larger trend they're already in.
"No manipulation according to Armstrong."
Which charlatan? Neil or Martin?
Liberty is a demand. Tyranny is submission..
LoL
"No manipulation according to Armstrong."
Just savy traders who understand that "gold isn't backed by anything."
Gold is backed.
By FEAR in bad times,
By GREED in good times.
But the gold bugs will be on the wrong side of things if the worldwide financial system collapses. Gold and silver will go into freefall. PMs are only good in localized collapses, not in a worldwide collapse.
"PMs are only good in localized collapses, not in a worldwide collapse. "
Ha ha...what an idiotic statement.
Like saying food is useful when you are a hungry...but not when you're starving.
Just as stupid as your assertion that PM investors are only driven by FEAR and GREED.
*Note: Apopheles - a disease spreading parasite...you chose an appropriate name to post your brand of bile under 9 weeks and 4 days ago.
People like you throw personal insults when you have run out of rationional arguments.
First, I never said fear AND greed, I said fear OR greed. Your turn, prove me wrong.
You can't read and jump to your own conclusions. Because of that, it's obviouly you have no clue about worldwide events or what happens in major collapses.
There is no rationality in your original assertion troll (noting that you did not present an argument...only an unsubstantiated opinion).
Now go and do something useful...like changing the litter box for your mum's cat.
Call it an opinion or whatever you want. Prove me wrong.
You never bothered to even respond in a rational way, you only insulted and continued to insult. If you think you are so right, it should be easy to prove me wrong.
http://www.gold.org/supply-and-demand/gold-demand-trends
Exactly:
ANSWER: You are correct, as there is no PPT. This is precisely the sort of conspiracy theory that creates investigations every time. There are people who need to believe in powerful groups whom control everything for they need that image to justify being wrong. They say if God did not exist, man would create one. They have been doing that since Babylonian times. The same takes place in markets.
Japan tried to support their share market and lost. China did that and then turned to devaluation for in a sense that is like raising interest rates upon foreign capital inflows since it is a charge or loss on that foreign capital. The Japan bubble was in full swing when the yen and market were rising. That attracts foreign capital. A purely domestic rally in equities is distinguishable by a declining currency. China’s move was to drive a spike in foreign investors’ profits.
Nobody can support the market. They tried that during the Great Depression, but companies bought their shares back to try to support the price and went bankrupt. In his memoirs, Hoover apologized for starting the Senate investigations that gave birth to the SEC. He said he received a phone call that claimed there was a Democratic conspiracy to ruin the Republican Party by Socialists. Based only on that phone call and conspiracy theory, they launched an investigation to find that short, but no one was ever found.
Right from Martins mouth.
and he adivised a lot of central banks(according to him)
So he must know it.
Ahhh, the trading equivalent of "get back in the kitchen bitch!"
pods
All downward moves in bullion are sudden. Like hitting a keystroke to dump a few billion in futures.
But US regulators are on the job. Or on the take. Which is the same thing in the land of the free markets.
Forward - to free gold and silver
Regulators: oversee the market = overlook the crimes.
At least this one was during normal market hours. The illiquid sunday night 3am flash dumps are my favorite.
They're getting desperate...too desperate to make even the slightest attempt to conceal their crimes.
Not "on the take" but under orders, is my guess.
Oh. What a surprise.
No physical silver was harmed during this incident.
I like that, I added to my stack of Silver today.
Funny isn't it how the stack does not lose one atom of substance...and in fact even seems to grow bigger after such events!
Slam it some more, I'm not done
Slam it some more, I'm not done
Me either, I was hoping to pick up some silver eagles that are on $2.99 premium special today.
Yeah, just like gas <---> oil this isn't reflected in the price.
https://comparesilverprices.com/
Shake out the paper, let's see what this shit is really worth.
Paper price has gone down much in the last few months, premiums have not followed. In fact, some junk silver is actually higher for me now than it was when silver was in the 16's. It is starting to decouple, and supply and demand is starting to take hold of physical market.
Nothing to see here. move along. move along.
-Lt. Drebin.
Yes...all downs are straight down....and the ups are slow and steady....
It is a bit odd, isn't it.
I'll take "Barbarous Relics" for $5000 Alex...
the London close...
all you need to know....
any other questions?
That damn Navinder. They let him out and he is right back to flash crashing markets.
What would happen, for instance, if the shares of Berkshire Hathway were suddenly smacked down in the order of billions, in one single trade at, let's say, a Sunday, 21:30pm out of Singapore?
People would buy the contracts and take delivery of them. Whoops!!
"Do over", I assume?
Am I the only one who is perfectly fine with this? Let them smash silver prices. In the end I will be better off as I accumulate moar at lower prices.
this is true...
its just the blatancy of it all...
and the regulators which the MoneyChangers own just sit there and do nothing because they r owned...
and do they really think they can convince those of us who understand that Silver's TRUE VALUE is $15 U.S. debt coupons????
not gonna happen....smell the desperation....
What comes first, the end of you or the end of the current system?
current system has already ended..
why do u think they r doin what they r doin????
me - im still standing....
next question....
Ending is not ended. This could go on well past your lifetime. It took 100 years for the Roman Empire to die.
The Romans didn't have the internet. The Romnas took so long to collapse because the powers could bullshit the people sooooo much longer. That doesn't work today. When the Chinese stock market craps out halfway around the world, we read and talk about it real time. This collapse will be MUCH faster.
IMHO
Timing? Indeed.
Ahhh.....and therein lies the rub.
Well I hope you are hedged for that. The end has been nigh for decades.
. . . and we're 40 or 50 years into it already.
i wouldnt worry about my lifetime man...
more like worry bout your own...
besides why u worrying about shit that dont matter...
remember -
"on a long enough timeline...."
u should know the rest cause ur here yappin....
Well actually it took about 400 years and in if you consider the eastern half of the empire, it survived another 800/1000. One could even argue that the Russian Orthodox part is still here or at least until 1991 depending how you interpret it.
But what's is a few centuries amoung friends.......err enemies. How dare you shisimistic(sp?) bastards make something on your own. Don't we have another Crusade or Inquisition or something we could do to them in Ukraine or Chechnya?
Well, it depends.
I would put the actual start date of the collapse at Sept 11, 2001
You could argue the point of no return was 1992, becuse soon after the jobs started going overseas
There is a great argument that it's 1971 with the closing of the gold window, at that moment a 40 - 50 year collapse count-down timer started per historical analysis.
There are other arguments that it's 1917
In all cases, it's already been YEARS.
That said, if you are a Gen-X there is a really strong chance you will see it in your lifetime.
I am a Gen X-er, and all my life I have only see things get worse and worse. I was born around the pinacle of human achievement, the moon landing, and it has been a steady decline ever since.
Exponential acceleration...
It's getting very close to vertical.
http://www.quora.com/What-is-the-limit-of-1-x-as-x-approaches-zero
When we reach vertical, the line appears deep in the negative but then grows back to the mean. Friggen beautiful.
If Lurch(Kerry) is talking about the end of reserve currency status, it's real soon.
yes but then the f criminals with seize it or ban it, except of course for congress the horehouse & washington
Did you think they forgot to smash the PMs? Lot of balls in the air, but this is still to important to let PMs run.
It was the 'Hound of Hounslow' back on th einternet again....having just been released on bail in UK!
Fridays always bring out the hammers. Good day to buy on a weekly basis.
ZH article at 10:19 today: "Gold Jumps."
ZH article at 11:05 today: "Gold & Silver Suddenly Slammed."
So you see, sometimes correlation DOES indicate causation.
stocks have PPT (Plunge Protection Team)
commodities have PGT (Plunge Guaranteed Team).
This is why reports on Chinese gold buying should be faded.
I feel so stupid today, lost $150 in 2 5min candles
I can be sure there is more going east right now with the devaluation.....when the Chinese get scared they buy gold....and I bet a few million are really scared right now....
"the global monetary system will crash immanently, you must buy PMs to get salvation"
=
the biggest scam of this era.
PMs = dead money, AT BEST
That's right because fiat currencies never go to zero.
You act like you are omniscient and know with certainty that the dollar will go to 0 in your lifetime. Chances are it won't. Just like the people in the 80's thought, many of which are now dead.
Who's acting? The US dollar has lost 97% of its value over its lifetime which leaves only 3%. And three is pretty close to zero.
Fiat is a medium of exchange. You don't hang on to it until it hits zero.
It's the faulty augument that all gold bugs make. They try to justify their losses in holding gold.
krugman wannabe
You can't be serious! Gold & silver out montize any fiat currency in the history of this world! Have fun when you go to stock up once the SHTF and your C notes aren't worth the gas it took to get to the store.
You can't be serious! Gold & silver out montize any fiat currency in the history of this world! Have fun when you go to stock up once the SHTF and your C notes aren't worth the gas it took to get to the store.
If my US treasuries become worthless and stop paying interest,
and the USD becomes worthless,
THEN
you had better have good military-type survival skills AND weapons and lots of ammo to survive - PMs won't help you if the entire monetary, financial, governmental, economic, and social systems disintegrate.
You PM fanatics are operating in a mutually-reinforcing fantasy world.
You're beloved treasuries are already losing value when compared to real inflation.
My treasuries are not "beloved" - they are just an income-producing, capital-preserving investment.
YOUR beloved PMs are the emotional "investment" -
which produce ZERO income
AND
do NOT preserve capital
AND
do NOT appreciate faster than inflation - in fact they are LOSING value !
Another unscheduled buying opportunity PM's are a long term accumulation play the less fiat this costs in exchange the better, please carry on
World gold council sez:
"Gold demand declined to 914.9t in the second quarter – a 12% year-on-year drop – as consumers faced a number of challenges. Jewellery demand came under pressure from negative consumer sentiment, while investment was undermined by stock market gains and a lacklustre price environment. On a half-yearly basis, global demand was 6% down at 1998.9t. The outlook for the second half of the year is more optimistic; there are signs that the recent drop in the gold price has sparked a revival in demand since the end of June."
http://www.gold.org/supply-and-demand/gold-demand-trends
WGC consistently supplies false data on world gold demand. There are many web sites that report true SGE gold withdrawals. Here are some:
http://lawrieongold.com/2015/07/18/huge-latest-week-sge-gold-withdrawal-...
https://finance.yahoo.com/news/shanghai-gold-exchange-withdrawals-strong...
"Dear China, here is your chance to buy another 20 tons of gold at lower prices, signed BIS"
Another 20 tons; spot on Tylers. This will go on until the west chokes in it's own debt-vomit.
lol fights will go on as long as they have to.
Soon China will have all the gold and their plan for world domination will be complete. Cash in your gold and start learning Chineese.
No manipulation according to Armstrong.
Gotta keep one's parole officer happy.
The cheaper I can get these Morgan Silver Dollars the better!
Major smackdown coming next week. You haven't seen the worst yet ... gold bugs brace yourself!
Why are individuals who are so good at understanding what real money is at the same time so incompetent at navigating boats?
http://www.bbc.com/news/world-europe-33880350
I don't think the Chinese are as dumb as the US colony, Japan. Able Abe has been trashing the Yen and driving local inflation higher. Citizens get financially nuked this time b/c they don't own gold. Maybe the Chinese will start preserving their wealth in real money. Moving from stocks to metal big time.
Smart, informed people started dumping the toilet paper
And things start to take shape, most likely USSA is preparing for war - they needed cheap oil to fill their strategic reserve till overflow levels, levels not seeen since - guess what! last World War!
If CBCacanada reports it - it means it it really a thick one ...
http://www.cbc.ca/news/business/oil-storage-tanks-filled-to-levels-not-s...
SHOCKING
Fuck this insect shit. For those of you love fiat paper, from today forward you will be referred to as a Fiat Bug.
Gold jumps, gold slammed.
That's right up there with "put up your hands, nobody move".