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Catching The "Silver Crusher" Algorithm In The Act
There was a time when catching the silver "whack-a-mole" algo, or process, or intervention, or manipulation, or whatever one wants to call it, in action was a myth: an urban legend, perpetuated by silver conspiracy theorists. Until today that is. Courtesy of Nanex we now have direct evidence of just what the reflexive market (in which derivative products such as ETFs influence underlying assets) goes to town by taking silver to the woodshed at a whopping 75,000 times per second! From the broken market sleuths at Nanex: "On March 20, 2012 at 13:22:33, the quote rate in the ETF symbol SLV sustained a rate exceeding 75,000/sec (75/ms) for 25 milliseconds. Nasdaq quotes lagged other exchanges by about 50 milliseconds. Nasdaq quotes even lagged their own trades -- a condition we have jokingly referred to as fantaseconds." Translation: so desperate was the desire to crush silver at precisely 13:22;33, that the Nasdaq order flow directive ended up moving faster than light. Frankly, we don't know about you, but when someone is willing to bend the laws of relativity, just to get a cheaper price in silver, to perpetuate a failing monetary system or for any other reason, we quietly step aside...
From Nanex:
SLV 1 second interval chart showing trades colored by reporting exchange.
SLV 1 second interval chart showing the NBBO
Shaded black if normal, yellow if locked (bid = ask) or red if crossed (bid > ask).
SLV 1 millisecond interval chart showing trades colored by reporting exchange.
Chart shows about 200 milliseconds of time.
SLV 1 millisecond interval chart showing the NBBO
Shaded black if normal, yellow if locked (bid = ask) or red if crossed (bid > ask). Note the insanely high quote rate in the bottom panel. Chart shows about 200 milliseconds of time.
SLV 1 millisecond interval chart showing the quotes and trades from ARCA (red) and Nasdaq (black).
You can clearly see the delay in Nasdaq quotes, yet their trades aren't delayed at all. Chart shows about 200 milliseconds of time.
SLV 1 millisecond interval chart showing the quotes and trades from BATS (purple) and Nasdaq (black).
You can clearly see the delay in Nasdaq quotes, yet their trades aren't delayed at all. Chart shows about 200 milliseconds of time.
SLV 1 millisecond interval chart showing trades colored by reporting exchange.
This chart shows approximately 150 milliseconds of time.
SLV 1 millisecond interval chart showing the NBBO.
This chart shows approximately 150 milliseconds of time.
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"It's hard out here for a pimp."
Dr. Engali (in his $1,654.80 suit)
Nope I wear $200 suits. I'm too tight to buy a nice suit. I'd rather buy precious metals like gold and silver and semi precious metals like lead and brass.
I jest. I'm particular to track suits that max out at around $150
And 1 oz of gold back in 10 AD would buy a nice toga to go to a party in .... toga! toga! toga!
It's kinda like Einstein's station leaving the train. How much money will a suit buy. As more dollars are produced the more dollars a suit will purchase. As below. As gold is pretty stable in quantity, as more dollars are printed the more dollars an ounce of gold will buy. But paper money is actually worthless -- it has no value -- it's just a medium of exchange -- its not permanent --- gold is permanent --- it will always exist. Not paper money. That's a big difference.
The market determines the value of both assets, production & money. Like how many dollars will a loaf of bread buy? Of course as the fed prints more money & the banks create more paper money a loaf of bread buys more & more paper money. Just like stocks. As the fed & banks create more money stocks buy more & more money. As gold is pretty much fixed in quantity it buys more paper money as more paper money is created. Pretty simple.
The economy continues to work as long as producers are willing to swap their production for paper money. As long as they are willing to buy money with the bread they create, etc.
In a fantasecond. the Bernank will re-brand the operation twist program just prior to its extinction. The mouth breathing crowds will roar into a auto-erotic asphyxiation position.
These fuckers. Why don't all these millionaires and biliionaires in the silver market do something about it. To me Turk, Sprout, Butler, Leeb are on the short side trying to sucker retail into PM's. To me Gold and Silver are manipulated and the smart ones know how to play it.
Didn't you watch Bernank spin to the youths, holding tradition is only for the smart folks leveraging against printing money out of thin air? LOL
One man gangs are subject to position limits
Bullion Banks, market makers, and authorized hedgers are not....they are exempt
So they have silver bullets to protect them? Not sure your message, please explain.
Sure
He's calling for vigilantes like Turk, Sprott, Leeb, and Butler to do something about the manipulators they "rail" about in interviews....like load up on silver contracts and take delivery
These entities shorting silver in the large commercial category are dumping sell orders of nearly half the yearly mined supply in a day's trading action when the Bernank gets a silver coined verbal bashing in front of Congress.
The idea for position limits is to keep one trader from gaining manipulative advantage. Turk, Butler, and the roughriders from GATA aint got the juice to match pocketbooks with a cabal that's not encumbered with position limits rules.
I believe the extension on their exemption comes up for review again in May. It's not outlandish to surmize they will once again receive another pass in the form of another extension...to review the matter more thoroughly. The CFTC is in place to offer the illusion that "something's being done" about position limits and the over concentration by aforementioned entities. Stall tactics to buy time for their masters to employ their own plans and tactical advantage.
At the end of the day...people hate this Ground-Hog Day on Dante's 9th circle ferris wheel for reasons that are worthy....
The bankers scheming behind the scenes are deserving of our hatred.
I would suggest that people enjoy the show...increase their stacks and their preps....draw down their debt loads...and carry on.
The CME's casino is becoming more obsolescent by the day....the fiat deep pockets of the bullion banks and their co-conspirators will only take them so far. The world will awaken to the problem with silver's supply fundamentals soon enough IMO....
Stack building is easy now....but won't remain so forever.
How to trade on a price before it hits the NBBO: Read a single exchange and ignore NBBO.
So Long, Farewell
http://www.youtube.com/watch?v=5lvz49U-D5s
I'm looking forward to SLV's funeral...
For those of us here at ZeroHedge, why are we not suprised...at all.
Seriously hilarious post, Tyler. I now welcome a global market implosion just to see what snarky comment you come up with.
Protoculture - Ghosts in the Machine[Trance]
http://www.youtube.com/watch?v=t98IWdc-Zb0
Leave my Silver alone.
The name says it all. Bring on da Arm-O-geden. Yee Haw.
go long, Long John Silvers fish n chips
Gee whiz Wally, it's almost like someone had set a trigger.
Weird huh?
Gensler at home, spankin' Hank, as usual... when is that China silver exchange supposed to open?
I hear American soldiers like to shoot and piss on the corpse.
Maybe they could use Bart on one occasion.
As long as Zero Hedgers keep buying and holding physical silver we can crush the silver crusher. 30 dollars an ounce is artificially low and artificially low prices are impossible to sustain.
Exactly, buy and hold physical Silver Bitchez.
BUSTED!...Thanks to MY MAIN MAN!!...Now, how do we make 'em pay for getting BUSTED?
ONE EYE OPEN AT ALL TIMES!...AND DON'T FORGET IT!!
Ummmm, what ever happened to good old fashioned estimating whether something is cheap, expensive, or about right, and trading accordingly ?
This has to be one of the most baffling discussion threads I've ever read. Am I still adequately equipped to operate in these markets !?
Rise your hand if you traded in ms interval with your account. Nobody? Hmmm.
Now tell when you last received an email message with a noticable delay? No, nobody?
Well, that's technolody, baby.
There are computers to make noise, and computers to filter noise, and computers to report eccessive noise. Why would I care about all this technical crap as a retail investor? I don't care how email is delivered, unless it's delivered instantly and spam is filtered. So I don't care eiher how many quotes per ms in any ETF till I see tight bid/ask and instant order execution.
What happened? I did not go to a porn site. Now I'm getting ads of women and teenies attacking men instead of the old standbys Barak and Michelle Obama. Cookies can't be read from my other browser can they?
Now its muscle men eating bananas and singles ads that show men. And Obama. I guess its just some advertising algo fresh out of beta.
q99x2 said:
Your computer might be fucked, unless you really meant to post this:
http://www.zerohedge.com/contributed/2012-12-21/are-middle-east-african-...
whoa.
please tell me if my account ever starts trolling detergent. . . or anything else!! :((
Silver is still a bubble ~ http://www.optionmillionaires.com/2012/lnkd-just-like-the-doctor-ordered...
Silver bitchez!
I see numerous posts like TruthDetector's "Silver bitchez!". Someone please translate.
" ______ bitchez!" is a long standing ZH sign of approval. Don't know the origin but perhaps a lore master will sing out.
Thanks for the heads up, Silver Bitchez
Wasn't it Chumbawumba?
"I want you to hit me as hard as you can"
Sometimes we just need to learn to adapt and appreciate a current situation. There is always an arbitrage opportunity. In this case, obviously, the winning bet is to continue to buy physical silver.
On the other hand, arbitrage may not always seem like an advantage. Being a teacher, I get paid monthly, so once we're past the 20th, I'm a bit poor. Like many ZH fans, I like a drink now and again. Cheap wine gets old, and the beer I like makes me fat.
When I ordered from our terrific, affordable, local Chinese delivery establishment today, the owner's daughter brought me a gift. Since I am such a regular, the owner sent me some Chinese saki.
I appreciate it, and since I am poor for a week or so, I am drinking it (or trying to). They warned me several times--little sips.
Have any of you ever had the, ahem, pleasure of being gifted with Chinese saki? It's a blessing, kind of like a cricket in your house that won't shut up. The smell alone should warn a normal person.
All I can say is that one has to be a man to hold this stuff down. It hits the esophagus like lava. I'm still sweating from my first "little sip."
The fun part, though, was getting my wife to try it. I couldn't stop laughing. She instantly turned into that dude on the Jagermeister ads.
She had to make a trip to the bathroom and then gobble some of our ultra papaya tabs. She's a trooper, though, and is trying to finish her half shot glass over the next hour of steaming me clams.
Dang! I just heard her bark downstairs. No, it wasn't the dog. She must've had another "little sip." Now I hear her cursing.
Sometimes life is just this way. Buy more physical. In a year or two, we will pleasantly remember this gift. Tonight, swallowing it brings us mixed feelings.
Quick thoughts:
-You are far too smart to be a teacher.
-Since you made a bad choice with teaching, you probably made a bad choice with the wifey. Dump that dumpy broad.
LOL
Sometimes life is this way. I like your message of buying physical. Keep going!
Um, Vic, thanks for the compliments, but I love my wife, and I love my job. I help our non-traditional community college students reach their goals and enter four-year colleges. It is very rewarding.
Not everyone's goal is to get filthy rich. I do play the lotto, though.
Some call teaching "God's work." I'm not trying to sound like Blankenstein, but hey, I work hard, and I see the results. Many of the students thank me later, actually.
If ZH ever wanted to hire me as an editor, though, I'd jump at the chance. They need one.
Financial Services Committee Begins In-Depth Look at “The Future of Money”
WASHINGTON-Cell phone-based retail payments, the metallic content of circulating coins and other issues involved with value transfers in retail settings will be featured in a series of hearings that begin this week in the Financial Services Committee.
Dubbed “The Future of Money,” the series starts Thursday at 10 a.m. in the Financial Institutions and Consumer Credit Subcommittee with a hearing entitled “The Future of Money: How Mobile Payments Could Change Financial Services.”
The Committee’s in-depth look at the future of money will examine the technology used to conduct mobile payments, identify potential security problems, and consider whether statutory changes are necessary as mobile payment systems become more widely available, said Financial Services Committee Chairman Spencer Bachus.
Bachus said the purpose of the hearings will be to ensure that consumers, retail establishments and financial institutions all have access to the broadest range of forms of payment and that each form available is as robust, safe and practical as possible.
“Advances in technology give consumers and businesses new options on how to make and receive payments. It’s up to Congress to ensure that each one of these options is safe and secure, that regulation is carefully crafted to allow innovation but prevent abusive practices, and that the mobile payment system operates as efficiently as possible,” said Chairman Bachus.
Subcommittee Chairman Shelley Moore Capito said Thursday’s hearing is the first of three planned this spring in her subcommittee that will focus on the opportunities and challenges presented by mobile payment technology that is rapidly becoming available. The hearing will feature five experts on mobile payments. Later hearings will focus on the various business and technology models for mobile payments and on regulatory and security issues.
“The idea that you could make a payment at the grocery store or restaurant with your cell phone, and potentially have greater security and less chance of identity theft than you do today is exciting,” Capito said. “At the same time, technology innovations always present regulatory challenges. We want to ensure that we have proper regulation in place so that clever, motivated criminals cannot take advantage of these new technologies. The goal of these hearings is to examine these issues now, while the technology still is developing, and make any necessary changes to the system before it is widely available when changes would be much harder.”
Lovely. Another step towards the cashless society the scumbag oligarchs dream about. I love how this Capito puppet thinks that making a payment from your friggin cell phone is going to be safer and more secure than physically handing a retailer money. What a useful idiot.
The world is awash in dollars. Where do we hide?
$17usd for 31.1 grams of silver coming? Maybe for streamers or multi nationals direct from the 3rd and 4th world miners; however for big hat no no cattle option and etf daily price checkers, it won't happen.
Joe Satriani - Surfing With The Alien
http://www.youtube.com/watch?v=aHN-B40WjlI&feature=related
I would have bought silver today if my credit card hadn't been hacked again (last year and again this year and no I'm not stupid with it).
And, I'm buying with cash, but backing up the purchase for shipping requires the credit card.
Yeah, that computer stuff is so safe and secure.
Not the same credit card number was it? Hopefully after the first incident you cancelled it and got a replacement with an entirely different number on it.
As an alternate means, and you probably already do this, but acquire your PMs at your local coin shop guy. Straight cash, no compu-tracking-recording of the transaction.....and you take immediate possession. Little by little, avoiding monster-box style purchases which trip all sorts of 'reporting requirements' etc.
If anything (because there will be plenty of times to ride paper precious metals up and down in exchange for physical), we should be more vigilant and adamant that the markets behave based on supply and demand and not hft's out banging each other and being predatory off the order flow-- that's not what markets are supposed to be nor behave because outside of PM's, commodities have devastating effects upon everyone.
Let's not forget the real lesson to be learned here and demand more from the people supposed to keep the markets free and true.
As long as they manipulate the price downwards, I don't really care.
How to identify a Stock Market Bottom
http://stockmarketbottom.com
JP Morgan...what a bunch of crooks. Plus, the government likes it because high metal prices give a clue as to the worthlessness of the counterfeit money being printed by the US,EU, Japan, and more.
I find this comical, it just bewilders me why the TPTB pick on silver so much more then any other metal...its $32 an ounce for christ sake, $32 doesnt impress the average materialistic obsessesd sheep. Its like the school bully picking on the skinny nerdy kid who also happens to be on crutches. Its getting quite silly.
Ah yes, the Bully.
Don't worry he will pick on the wrong mouse for the last time. I had a habit of taking down school bullies myself. But always adding salt to wounds by ensuring school rules were in my favor by getting them to attack first.
And we have a winner. This is the question that needs to be asked but hasn't been. Is it JPM's inherited short position? Is it industrial needs? Or is it the poor man's metal? Another reason?
Clearly there's a concentrated effort for the long haul. Knowing why (for sure) would be empowering.
I suspect the answer would be yet another question: how much monies do JPM make on the silver manipulation over time?
then add such things as SNAP benefits cards they administer, etc. etc. - it all adds up for them, no doubt.
THE CRUSHER
http://www.youtube.com/watch?v=HcnE3MtvQgg
Remember, folks, it's all "supply and demand".
LOL
Just watch the spot chart. Every day it's just a repeat. Hong Kong up, London smackdown. Comex fiddles horizontally. But at the end of the day it's the London smackdown that counts. You can see it practically tracing the exact line day after day.
Hope it drops some more. Picking up PMs this weekend. :)
This is how we do it
https://docs.google.com/file/d/0ByJAC-sfXwumZzI2bVlON2VTMnFyYVZZSnpDYnNy...
in the beginning god(cheney) said, deficits do not matter. At the time no one blinked.I think cheney was right. he said it with a smirk. and he meant it. A Deficit is only paper. We the world may be looking at the biggest default in history, and it will not be Europe. USA may have the largest default in history,and rise again on gold and silver. The saddest part is that Americans will cheer this theft.
For there to be economic growth I can see why they would want to try and keep the price of PMs under control.
The amount of applications that silver has alone is very broad.
I'm guessing the strategy is to burn and scare people out of there positions, they don't want a tangible asset class such as PMS becoming a main stream investment vehicle.
You mean scare off the Paper Mountains that will strip the Physical dry.
What economic growth are you referring to?
Equity firms like BATS get what they deserve if they are still trading SLV.