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CME Cuts Gold, Silver, Platinum And Copper Margins

Tyler Durden's picture


It has been so long since the CME cut gold and silver margins that frankly we are a little bit stunned... In an extended announcement, which saw outright margins for virtually every commodity get cut, the CME just lowered Initial and Maintenance margins of gold (by 12%) and silver (13%), to $7500 maintenance for GC and $16000 maintenance for SI. Did the paper bull trap season just open? And how long before these are re-hiked by 15%, 20% or more? For now, however, this is certainly near-term bullish.



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Thu, 02/09/2012 - 18:04 | 2143702 JLee2027
JLee2027's picture

Sign that COMEX is dying off because they failed to protect MF Customers?

Thu, 02/09/2012 - 18:06 | 2143707 LongBalls
LongBalls's picture



Thu, 02/09/2012 - 18:15 | 2143749 knukles
knukles's picture

Yowza!  Buy dem clients back whose wents elsewere.

Thu, 02/09/2012 - 18:35 | 2143795 Pladizow
Pladizow's picture

Kaaraling the heard?

Like a dealer offering free drugs - Its best to decline the offer!

Thu, 02/09/2012 - 18:40 | 2143828 gmrpeabody
gmrpeabody's picture

I'm not getting it.... but I'm only a dog.

Thu, 02/09/2012 - 19:08 | 2143904 AldousHuxley
AldousHuxley's picture

12/2010 - 12/2011 BLS inflation CPI-W


Food at home..............................6.1
Motor fuel................................ 10.3
Thu, 02/09/2012 - 19:27 | 2143974 Troll Magnet
Troll Magnet's picture

Paging Mr. Celente...Mr. Gerald Celente...You may begin stacking paper again, sir.

Thu, 02/09/2012 - 20:15 | 2144103 trav7777
trav7777's picture



"TPTB" want to kill all the goled

Thu, 02/09/2012 - 20:20 | 2144114 akak
akak's picture

It's baaaaack .....

Thu, 02/09/2012 - 22:21 | 2144428 Comay Mierda
Comay Mierda's picture

Ah fuck, there is another MF Global brewing

Fri, 02/10/2012 - 00:09 | 2144702 RockyRacoon
RockyRacoon's picture

It's easy.   It all boils down to these three little words in the article:

...paper bull trap...

Fri, 02/10/2012 - 17:17 | 2147635 4horse
4horse's picture

post-close 2/10, rr

sadly, you called it: wisely . . . am as thick a brick as ever came outta the kiln

Thu, 02/09/2012 - 22:23 | 2144412 Al Gorerhythm
Al Gorerhythm's picture

Trav. You are either naive or blind to not consider the 2008 drop in price and the subsequent price moves to the down side, all recorded over a matter of days (From $21 down to $9, 2008) as not manipulative. There were no reasons for the metal, in monetary or fundamental (industrial use collapses or bonanza discoveries) terms, to plunge so dramitically. That's not price discovery, that's manipulation and if you can't or won't see that, you are making ignorant remarks.

The COMEX has a ring of short sellers, AKA boaard members and banker buddies, who will change the rules as they see fit, write naked short delivery promises to take out "Stops" to either gain from their illegal activity or so that they don't realize a loss. Just ask the Hunts. 

No manipulation. KMA. (Kiss My Ass). "Waahhhhaaa". What a statement. What are you? Four?

Fri, 02/10/2012 - 00:07 | 2144699 trav7777
trav7777's picture

Are you on crack?  There are sellers and there are buyers, dude.

There's no sinister power manipulating things so you idiot silverbugz don't getrichquick and become masters of the universe, ok?

Fri, 02/10/2012 - 00:16 | 2144716 AgShaman
AgShaman's picture

Yeah, yeah, yeah.....we've heard your drivel before.

It's perfectly normal for the Chicago Mafia Enterprise to always keep the silver contract margins more than twice the amount for the gold contracts.

Fri, 02/10/2012 - 00:21 | 2144722 tmosley
tmosley's picture

Trav thinks the markets are open and fair, lol.

Fri, 02/10/2012 - 00:45 | 2144761 akak
akak's picture

You know, if I consistently received as many red arrows as Bob Moriarty, er, "Trav", in this forum, I think I would seriously reconsider my tack, my opinions and/or my very presence in this forum. 

There is something not quite kosher about a poster who is so consistently at odds with so many others (if not almost everybody else) here, and yet who insists on hanging around and regaling us with his unsolicited and unwanted "truths", often rabidly and maliciously so.  Isn't this the very definition of "trolling"?

Fri, 02/10/2012 - 00:55 | 2144792 AgShaman
AgShaman's picture

Gollum hated those nasty little Hobbits' for having something he wanted very badly.

These PM and Silver Haters are like you said....rabid pathetic creatures. I feel pity for them.

I seriously doubt they would behave this way in the world away from their computer screens. Could you envision them giving Granny a verbal bashing in public for having her capital tied up in a MM or a CD earning a pittence....or having cash locked up in a bank with it's value evaporating daily?

Yet they come here to tell us "Fools" how crazy we are for turning 50% YOY for the last decade.

Like I said....I feel pity for the pathetic creatures

Fri, 02/10/2012 - 01:14 | 2144837 tickhound
tickhound's picture

Extremist behavior?  Nuke Trav?  Premise noted.  Appropriate action pending review by "them"

Fri, 02/10/2012 - 06:09 | 2144876 Al Gorerhythm
Al Gorerhythm's picture

No Trav. That's the real world talking. I was trading it and had a rather large trading account, (for the average bear, that is). I was burried by the manipulations, as were many others. There was no reason for the markets to behave the way that they did at the time. There were only manipulations. You try cornering the silver market on the long side why don't you, instead of dribbling incessant bullshit. Somebody must have clouted you alongside your head with a sock full of diarrhea, where it seeped in and is finding escape through the path of least resistance, your mouth. You truly are thick.

Straight from the horses mouth, which even Blind Freddie has seen:

"Central banks stand ready to lease gold in increasing quantities should the price rise". Ben Bernanke..... and they did and still do. Now, whose gold are they leasing Trav. Their own? Fuck me you're slow. Nothing of import to deduce here, Trav. Move along now, (pat, pat).

Sigh. What's the point?

Fri, 02/10/2012 - 07:34 | 2145087 4horse
4horse's picture

jesus. letters-to-the-editor .christ

Sigh. What's the point?


. . . don't know. yet did so . . .


mostly on account of this man:

have written to you before
the last time to acknowledge what appeared potential attempts at fairness, Justice, and/or just plain honesty, which of course never materialized
today saw you in a visibly discomfiting exchange with santelli on cnbc  .  .  .  while simultaneously trying to promote your new book
Lying is often easy, especially professionally  -politically-  when one's ambitions, career and future rely upon said Belief
you are beyond belief. nor believe what is expected said. even as if your life depended upon it  .  .  . 
which, not to be overlooked, would as well be consistent with the same people as, on the other hand, can see to the promise and promotion of, say, any published book
even as they insistently look over your shoulder every hour of every day, again consistent with the same people as edit texts and most future prospects in/and out of existence
and who no doubt will see this before you do: recording origin, isp and sentiment as with all such messages sent
not that they have anything new to tell you. nor, double-negative, anything these same sorta people don't already suspect 
preemptively. which's why, over-your-shoulder, they so vigilantly remain there: so closely. watched: cause most anybody already suspects what they've long-expected to suspect
protecting themselves. successfully, in effect. as well, e.g., as in fact__ There has been no instance, of which I am aware, of the CFTC ever busting up a manipulative crime in progress in history.
not that there's anything here you don't already know. nor, doubling-down-on-dumb, show you something you don't know better than most everyone 
except them, same sorta people  .  .  .  criminal  .  .  .  doubledealing MF corzine to gensler. recused? while JPM excused from silver


*     *     *     *     *


likewise give it a try  .  .  .


Fri, 02/10/2012 - 07:51 | 2145104 mantrid
mantrid's picture

Purchasing power of the consumer dollar
(1982-84=$1.00).......................... - $ .449 $ .450
Purchasing power of the consumer dollar
(1967=$1.00)............................. - $ .151 $ .151

but what's the issue about?

Purchasing power of the consumer dollar
(2012=$1.00)............................. - $ 1 $ 1


inflation is like vegetables: it's good'n'healthy, and grows rapidly.

Thu, 02/09/2012 - 19:18 | 2143942 Cheesy Bastard
Cheesy Bastard's picture

 I can't understand anything like this unless it is explained by cartoon bears.

Thu, 02/09/2012 - 19:46 | 2144023 akak
akak's picture

Too bad you need cartoon bears --- there is a whole channel of cartoon bulls on TV every weekday, one of whom likes to roll up his sleeves before dishing out the bull-shit wholesale in great stinking gobs after apparently smoking crack.  I think it is called the Cartoon Network Bulls Channel.

Thu, 02/09/2012 - 20:14 | 2144097 Cheesy Bastard
Cheesy Bastard's picture


Thu, 02/09/2012 - 20:23 | 2144124 Transformer
Transformer's picture

Well, you know, it's a pretty dry subject, so, I think we should appreciate the humor.   The really funny part is that only a few people get the humor of it all.

Thu, 02/09/2012 - 21:10 | 2144247 Raymond Reason
Raymond Reason's picture

ahahaaaha...hilarious!  Made my day. 

Thu, 02/09/2012 - 21:19 | 2144275 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Very clever akak!

Thu, 02/09/2012 - 18:30 | 2143796 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Step right up!  Get your own paper gold! 

It whitens the teeth, and you can eat it, too!

Thu, 02/09/2012 - 19:12 | 2143919 Race Car Driver
Race Car Driver's picture

The large print giveth - the small print taketh away!

Thu, 02/09/2012 - 18:20 | 2143760 nope-1004
nope-1004's picture

CRIMEX is dying bigtime.  PAGE will take a ton of biz away, as the crooked CRIMEX and CME are nothing but a Blythe Masters letterhead consortium.  Since MFG stole customer funds, the pig is dead.  Now, they are extending an invitation to anyone interested to come back into the ring and fight Medusa and Satan.

Here's some advice to any COMEX traders:  You'll lose!  You'll be stolen from.  And you'll have margins hiked again.


Thu, 02/09/2012 - 18:24 | 2143776 ZeroPower
ZeroPower's picture

Hey look, theyre cutting margins everyone... MANIPULATION, MANIPULATION!!1111

Thu, 02/09/2012 - 18:28 | 2143788 Michael
Michael's picture

The Nazification of America is in full swing bitches.

Heil Hitler!

Thu, 02/09/2012 - 18:45 | 2143841 ffart
ffart's picture

Except Hitler's gonna act like this guy this time around -->


Thu, 02/09/2012 - 18:54 | 2143863 Josh Randall
Josh Randall's picture

Did he say "egg Wuursh" ?

Thu, 02/09/2012 - 18:57 | 2143875 stant
stant's picture

Not the colonel!! stants a ky colonel .how did we arrive at this dark situation! wish i could find one of those white suits lol. besides col sanders lived before chicken nuggets.  Ive met the guy that replaced him now .nice old gent

Thu, 02/09/2012 - 20:53 | 2144206 JLee2027
JLee2027's picture

I used to cook KFC Chicken 35+ years ago. It still tastes the same to me and is damn good chicken!

Thu, 02/09/2012 - 21:18 | 2144272 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yeah, but it ages you like a hug from Hillary Clinton.

Thu, 02/09/2012 - 21:48 | 2144360 Al Gorerhythm
Al Gorerhythm's picture

Yup. Can never wash it off.

Thu, 02/09/2012 - 23:07 | 2144539 sullymandias
sullymandias's picture

Oh man. You better pray she doesn't sink her teeth into your neck while she has you in her embrace.

Thu, 02/09/2012 - 21:17 | 2144268 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

What most people didn't realize is that the colonel was just 39 years old when they made this commercial. 

Thu, 02/09/2012 - 18:55 | 2143867 kito
kito's picture

@zero----i cant wait till canada, so rich in water and natural resources, unwillingly becomes the 51st state.......

Thu, 02/09/2012 - 20:11 | 2144091 iDealMeat
iDealMeat's picture

You mean the next 7 states (territories)..  Obama already counted them remember?

Thu, 02/09/2012 - 20:50 | 2144194 fasTTcar
fasTTcar's picture

I can't wait for Canada to buy out the bankrupt US for a few loonies and it will become the 11th province.

Actually, I can.  Not sure I want that many Americans voting in Canadian elections.  Currently, Canada is where religion and separation of church and state are actually practiced.

Thu, 02/09/2012 - 21:13 | 2144256 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Wait Kito!  I thought Israel was the 51st state?!  I can even find it on a world map.  It's just 90 miles south of Florida.

Fri, 02/10/2012 - 05:40 | 2145010 Chaffinch
Chaffinch's picture

Didn't PanAm used to be the 51st state? What ever happened to them...?
; )

Thu, 02/09/2012 - 21:48 | 2144359 ZeroPower
ZeroPower's picture

Congratulations on having dreams. 


The country is too small to fend on its own. Nobody fucks with Canada now only because it is your hat. Or you its underwear, whichever.

Thu, 02/09/2012 - 22:12 | 2144405 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

in this video a girl actually calls Canada the 51st state, no shit man you ain't kidding.

Thu, 02/09/2012 - 19:58 | 2144053 Dr. Engali
Dr. Engali's picture

Okay so they raised margins at $1,500 because of "volatility " and they lowered them at $1,750 and that doesn't make you suspicious.

Fri, 02/10/2012 - 04:56 | 2144978 StychoKiller
StychoKiller's picture

Ya buy yer futures contract, ya takes yer chances! :>D

Thu, 02/09/2012 - 23:00 | 2144512 Al Gorerhythm
Al Gorerhythm's picture

Hey look, theyre cutting margins everyone... and no one's coming to the party. Very bland, low volume trading in Asia. Looks like ther're going to have to put on free booze... or cover some shorts to ramp the price. Might entice a few mugs.

Thu, 02/09/2012 - 19:28 | 2143976 xela2200
xela2200's picture

Sorry, I wished the CRIMEX was dying, but I don't think so. PAGE will only increase trading from arbitrage both from US and China. The short positions are almost gone, and the big boys are positioning on the long side. If PM are going up, the crooks are coming for the ride and, I hate to say this, they will profit greatly.

Thu, 02/09/2012 - 18:07 | 2143718 ddtrader
ddtrader's picture

Hit the nail on the head.  They need to get more sheep for shearing.

Thu, 02/09/2012 - 18:22 | 2143767 Jendrzejczyk
Jendrzejczyk's picture

Yes, what are they plotting?

Thu, 02/09/2012 - 18:25 | 2143778 Thomas
Thomas's picture

Why no spike today? Did they leak it days ago to give the front running plenty of time?

Thu, 02/09/2012 - 18:41 | 2143834 gmrpeabody
gmrpeabody's picture

A most interesting question...

Thu, 02/09/2012 - 19:27 | 2143971 Al Gorerhythm
Al Gorerhythm's picture

Sandpit's full of cat shit.

Thu, 02/09/2012 - 18:42 | 2143832 Ponzified Plebe
Ponzified Plebe's picture

Asked the same question myself, not that I am going to complain about a cut in margin requirements. But with the promises of ZIRP till 2015 and the Bernank intimating at QE coming down the pipe, it seems to make absolutely no sense. Even if there were a margin hike later on in the future, would it do more than a couple days dent if the bullishness in the PM's continues, or even picks up steam? I am new enough to investing in PM's that I honestly couldn't say. I'll just continue to buy up the phyzz each payday, b/c whatever this means in the near-mid term, I don't think that the CME/CRIMEX will be determining price over the long term.

Thu, 02/09/2012 - 18:47 | 2143848 Hopium Dealer
Hopium Dealer's picture

Basically people are running Usain Bolt style away from COMEX since November because of MF Global. COMEX needs these customers to come back, thus why they lowered margain requirements.

Thu, 02/09/2012 - 19:09 | 2143906 nope-1004
nope-1004's picture

Zackly!  It makes "no sense" if activity were high among futures.  But it's slow, and any business that is slow has to incentify customers.

Is that manipulation?  Not really.  Is it desperation?  Hell ya!

Thu, 02/09/2012 - 19:54 | 2143951 Hopium Dealer
Hopium Dealer's picture

The manipulation will come (in my opinion) around $1820 for gold and $42 for silver.

COMEX is a business, thus why they lowered the requirements, but when PM's start raising drastically, masta' will come in and give COMEX the order to rise requirements.

Thu, 02/09/2012 - 20:17 | 2144109 trav7777
trav7777's picture


Thu, 02/09/2012 - 22:58 | 2144513 tmosley
tmosley's picture

Trav says "no manipulation".

Everything must be fine!  All markets are normal, with no manipulation whatsoever!

Thank be unto mighty Trav who knows everything!  Now we can all go buy internet stocks and shut up and listen to His mighty wisdom.  Yes, let us all do nothing, and give praise unto his great master.

Fri, 02/10/2012 - 05:02 | 2144982 StychoKiller
StychoKiller's picture

Anyone that returns to the CME AFTER what happened with MFGlobal, is dain bramaged!

Fri, 02/10/2012 - 03:10 | 2144920 ruffles
ruffles's picture

Never, never, never underestimate how long the market can stay irrational... imo

Thu, 02/09/2012 - 18:11 | 2143728 akak
akak's picture

"New and improved C(ME)rack --- and half off for a limited time only!"

Thu, 02/09/2012 - 18:23 | 2143770 Jendrzejczyk
Jendrzejczyk's picture

I'm in if they throw in some wolf nipple chips.

Thu, 02/09/2012 - 18:27 | 2143784 IAmNotMark
IAmNotMark's picture

Get'em while they're hot...they're lovely!

Thu, 02/09/2012 - 19:39 | 2143878 akak
akak's picture

I'm sorry, wolf nipple chips are only available at the Chinese citizenism citizens kiosk --- please check the opposite side of the food court.

The CME/CRIMEX stand does, however, sell some lovely imitation, pulped-paper food product snacks in the shape and appearance of authentic wolf nipple chips, with every bit of their flavor and health benefits.  Really, they're just as good, if not even better!

The operators of this particular snack stand would, however, much prefer that you not actually take possession of your imitation, "just as good" pulped-paper wolf nipple chips, but instead merely take their word that their chips are indeed truly delicious, while allowing them to hold your just-as-good paper wolf nipple chips for you in their ultra-safe vaults.  Management is, however, not responsible for the spoilage or loss of any imitation wolf nipple chips thus stored, nor for the inexplicable loss of any wolf nipple chip trading accounts.

Fri, 02/10/2012 - 05:03 | 2144984 StychoKiller
StychoKiller's picture

Truth is so hard to come by, BRAVO!

Thu, 02/09/2012 - 18:11 | 2143730 HedgeAccordingly
HedgeAccordingly's picture

this could have catalyst thed 30 point GC sell off intra session today - 

they certainly have not lowered equity margins as apple added 5 billion market cap today

Thu, 02/09/2012 - 18:28 | 2143782 MillionDollarBonus_
MillionDollarBonus_'s picture


What an astoundingly ridiculous inference. Is it a conspiracy theory for the CME to attempt to attract customers? I understand that silverbugs are still licking their wounds after getting totally annihilated today post fix, but that doesn’t give you the right to come up with this preposterous nonsense.


Thu, 02/09/2012 - 18:29 | 2143792 mayhem_korner
mayhem_korner's picture



MDB - you need to refresh your lying skills.  You've really fallen off of late.

Thu, 02/09/2012 - 18:31 | 2143800 Pladizow
Pladizow's picture


Thu, 02/09/2012 - 19:00 | 2143883 nope-1004
nope-1004's picture

MDB, why would a reputable, clean, organized clearing house interested in only being "a mechanism for true price discovery" need to attract customers?


Thu, 02/09/2012 - 19:35 | 2143993 kill switch
kill switch's picture


You have been unmasked!!! Your troll badge has been terminated for amateur behavior...not in the positive sense,,, Now get your fucking shine box!!


Thu, 02/09/2012 - 20:41 | 2144164 Transformer
Transformer's picture

MDB is the real thing.  First place-- Hamy Wanger, second place--MDB.  the two of them have defined the medium.

Thu, 02/09/2012 - 21:25 | 2144290 Flakmeister
Flakmeister's picture

You have a question waiting for you.... take a guess where....


Thu, 02/09/2012 - 18:38 | 2143824 zerotohero
zerotohero's picture

Oh you - your such a fussy pot - shame on you MDB.

Thu, 02/09/2012 - 18:41 | 2143831 AC_Doctor
AC_Doctor's picture

MillionDufusBoner junked over and over, again and again.  You must have 2nd biggest collection of downward inverted red arrows other than the infamous RoboRoach!

Thu, 02/09/2012 - 19:00 | 2143880 NotApplicable
NotApplicable's picture

Keep that up and you'll give him a chubby.

Thu, 02/09/2012 - 19:45 | 2144025 Dr. Engali
Dr. Engali's picture

I just wonder how many people fall for his posts and junk him and how many people just junk him for the heck of it. Personally I think he is Robo. The two are never around at the same time. Although I have seen MDB respond to a commentator.

Thu, 02/09/2012 - 20:31 | 2144146 espirit
espirit's picture

I just like to junk It's junk, whether MDBoner or Robotard.

Thu, 02/09/2012 - 19:45 | 2143980 Al Gorerhythm
Al Gorerhythm's picture

Laughed my ass out Mdb. You still hoarding dollars, you unpatriotic piece of shit?

Thu, 02/09/2012 - 19:03 | 2143893 LookingWithAmazement
LookingWithAmazement's picture

COMEX of LBMA crash will never take place. It's a myth. Boring world we live in.

Thu, 02/09/2012 - 19:09 | 2143910 xela2200
xela2200's picture

The CME is rising rates? I don't understand. That is impossible. It does not compute.

I have to go lay down for a minute.

Thu, 02/09/2012 - 22:35 | 2144454 Buck Johnson
Buck Johnson's picture

Bingo, and most of the customers know that CME helped to have MF Global to essentially get away stock free from the situation.

Fri, 02/10/2012 - 19:47 | 2148094 thewhitelion
thewhitelion's picture


Thu, 02/09/2012 - 18:09 | 2143703 hack3434
hack3434's picture


Thu, 02/09/2012 - 20:33 | 2144149 espirit
espirit's picture

The Sheeple have left the casino.

Let's starve the Bitchez.

Thu, 02/09/2012 - 18:05 | 2143705 LongBalls
LongBalls's picture

PM's are bullish no matter what they do. UP YOURS CME!

Thu, 02/09/2012 - 18:06 | 2143706 junkyardjack
junkyardjack's picture

I'm sure that must have been a typo in their press release

Thu, 02/09/2012 - 18:07 | 2143713 vast-dom
vast-dom's picture







Thu, 02/09/2012 - 18:16 | 2143751 toothpicker
toothpicker's picture



fixed it for ya...

Thu, 02/09/2012 - 18:32 | 2143801 vast-dom
vast-dom's picture

u fixed it good, now rig it

Thu, 02/09/2012 - 19:37 | 2144000 kill switch
kill switch's picture

now rig it!! HA Thank You

Thu, 02/09/2012 - 18:32 | 2143799 vast-dom
vast-dom's picture

to the neg voter: smoke my yid while u google the jew google founders and my big black kike

Thu, 02/09/2012 - 19:16 | 2143935 vast-dom
vast-dom's picture

suck it you haters racists and inbreds! my liz-liz-lizard love you all!

Thu, 02/09/2012 - 19:27 | 2143972 blunderdog
blunderdog's picture

Are you like 12?

Thu, 02/09/2012 - 21:03 | 2144120 vast-dom
vast-dom's picture

like like 13 -- comments for the kids vast-dom for the kids!

Thu, 02/09/2012 - 18:07 | 2143714 Spider
Spider's picture

who cares - you shouldnt be buying gold/silver on margin...

Thu, 02/09/2012 - 18:18 | 2143755 fonzannoon
fonzannoon's picture


Thu, 02/09/2012 - 19:02 | 2143890 NotApplicable
NotApplicable's picture

Or worse, as Celente discovered, don't pay for the full contract and expect delivery, or you'll get Corzined twice! No gold, no cash, just farked in the ass.

Thu, 02/09/2012 - 21:23 | 2144281 Papasmurf
Papasmurf's picture

Could make a new rap tune from that.

Thu, 02/09/2012 - 18:07 | 2143715 Ned Zeppelin
Ned Zeppelin's picture

As the funny looking alien Rebel general in "The Empire Strikes Back" said: "It's a trap!"

Thu, 02/09/2012 - 18:18 | 2143757 achmachat
achmachat's picture


Thu, 02/09/2012 - 18:26 | 2143783 seek
seek's picture

Admiral Ackbar, a Mon Calamari. Such a common reference it's the first thing google pops up when you type "admiral."

Yeah... This is freaking bait. It's not like AU has gotten any less volatile.

It could be a sign that TPTB also need to re-prime the AU control pump for something big down the road. I could see them cutting margin now, letting things get going, and then raising them just as greece goes boom. Or maybe just as the US goes boom.

Thu, 02/09/2012 - 18:47 | 2143846 Ponzified Plebe
Ponzified Plebe's picture

You could be right, but at that point will a margin hike really matter? By the time the US goes boom will CME/CRIMEX be setting price? That's why the move makes no sense to me, unless they are capitulating to the bull market to maintain any shred of credibility after MF Global. Fuck, what do I know, it's one of the weirder peices of news I have heard in a while.

Thu, 02/09/2012 - 19:16 | 2143936 seek
seek's picture

I, like most here, am positive it's a setup/trap. It's the purpose that's a mystery. Option 1 is to keep COMEX relevant, and option 2 is to build up some fresh powder for manipulation down the road -- when the powder gets used is open to speculation.

Either way, it's a positive sign in a way, since any interpretation points at TPTB losing control of AU.

Brings a smile to my face knowing someone, somewhere in the bowels of the oppressors is losing sleep over this and making an effort to regain a handle on things. Enjoy the little things, you know?

Thu, 02/09/2012 - 20:26 | 2144130 delacroix
delacroix's picture

retreat, and set up a defensive position, on higher ground?

Thu, 02/09/2012 - 18:07 | 2143716 jekah
jekah's picture

Sorry if this off topic, but I think it's worth noting for anyone interested in markets and/or China (especially if it continues).

Thu, 02/09/2012 - 18:12 | 2143738 DoChenRollingBearing
DoChenRollingBearing's picture

FYI for those who do not know, Pettis is considered one of the best China analysts.

Thu, 02/09/2012 - 18:13 | 2143742 akak
akak's picture

Your link goes nowhere, except to a page which states:

"This account has been suspended"

Thu, 02/09/2012 - 18:32 | 2143802 Black Forest
Black Forest's picture

I am deeply and seriously depressed. The link sounded so promising.

Thu, 02/09/2012 - 23:01 | 2144521 Carmagnole
Carmagnole's picture

Behold, the magic of the interwebs

On a side note, in all the copies saved after August 30th 2010, the unique way the articles were replaced by viagra spam carefully crafted to look at first glance like the original articles seems to indicate a governmental hack by the chinese authorities to discredit the webpage, which make this link all the more interesting.

Thu, 02/09/2012 - 19:06 | 2143895 jekah
jekah's picture

Right. He lives in China and blogs about their economy, sometimes in not very flattering terms. Looks like he's been shut down.

Thu, 02/09/2012 - 19:14 | 2143931 akak
akak's picture

Just one more example of intolerant, crypto-fascist, hypocritical, repressive, blobbing Chinese citizenism.

Thu, 02/09/2012 - 19:50 | 2144034 Al Gorerhythm
Al Gorerhythm's picture

Mine says; "This Accountant has been suspended.".

Thu, 02/09/2012 - 20:00 | 2144057 IrritableBowels
IrritableBowels's picture

Google search results for Michael Pettis China:

Buy Online Viagra, Cialis, Levitra - Similar You +1'd this publicly. Undo This site may be compromised.
Two weeks ago on Wednesday night, after the Chinese markets closed, the People's Bank of China announced that it had cut the minimum ... Posted in Consumption and production, Economic growth • No Comments » .... Michael Pettis' book ...
  Looks like he's been hacked.
Thu, 02/09/2012 - 21:08 | 2144243 Cathartes Aura
Cathartes Aura's picture

I did a non-gaggle search, came up with this, may be of interest - it was the most recent Pettis link I could find;

Its impossible to prove one way or the other, but Horner sent me a paper in the Oxford Review of Economic Policy, by Oxford’s Bent Flyvbjerg, with the rather alarming title “Survival of the unfittest: why the worst infrastructure gets built—and what we can do about it”, which suggests why we need to be so worried about infrastructure spending in China – aide from the fact that the numbers are simply huge.

Thu, 02/09/2012 - 18:09 | 2143722 DoChenRollingBearing
DoChenRollingBearing's picture

Raise it to 100% (no margin).  Cash only for PMs!  Physical only!

Speculating is dangerous.  Holding is fun...

Thu, 02/09/2012 - 18:20 | 2143761 knukles
knukles's picture

Hah ha ha hahah haaha hhha hahahah
Fuck me.....
What a twisted world.
And then ask for delivery.
Actually, maybe they'll go all the way to zero margin and really get the troops back home before Christmas

And how long ago was the term CRIMEX figured out?
Like the nukes; Turkey Point, Millstone....
Can't make this shot up, eh?

Hey, I got an idea.
Let's start some false rumors about Greece, Portugal, Spain, Italy, Cypress. Mongolia and Buhtan.  Just for shits and grins.  Nobody'd be any the wiser, anymore, anyhow.
I can just see the folks on CNBS......

Thu, 02/09/2012 - 19:13 | 2143928 Peter Pan
Peter Pan's picture

I agree, otherwise you fall victim to their margin manipulations. Furthermore margins turn your precious metals into something like the fractional reserve banking which itself makes the financial structure quite fragile.

Thu, 02/09/2012 - 18:14 | 2143726 fuu
fuu's picture

Silver bitchez!

Thu, 02/09/2012 - 18:11 | 2143731 laserjock
laserjock's picture

All the easier to raise them later in a pinch. If they only raised requirements, they would quickly run out of ammo when TSHTF.

Thu, 02/09/2012 - 18:11 | 2143733 tony bonn
tony bonn's picture

this cut is most emphatically an wisely

Thu, 02/09/2012 - 18:13 | 2143739 caerus
caerus's picture

physical bitchez!

Thu, 02/09/2012 - 18:13 | 2143741 Cult of Criminality
Cult of Criminality's picture

Hmmm.......... Strange times indeed. Should I trust them..............?


 sticking with physical.  Up yours again CME

Setting up the whales for the kill maybe?

Thu, 02/09/2012 - 18:21 | 2143762 mayhem_korner
mayhem_korner's picture



Cue inflow of money from weak sheeple hands.  Must be building up a margin reserve for some big takedown a few days hence.  We'll see.

Just keep stackin'...

Thu, 02/09/2012 - 18:13 | 2143743 absente reo
absente reo's picture

Bullish?  Why?  It's simply a reflection of lower volatility since September last year.  ATR is still high, just not as high as it was.  Even presuming there was a correlation between ATR and directional price movement, we know not if volatility will increase, or continue to decrease, from here.

Thu, 02/09/2012 - 18:14 | 2143745 MsCreant
MsCreant's picture

Comingle with us, puhleeeeeze! We promise it's a gas (as in vaporization).

Thu, 02/09/2012 - 19:39 | 2144007 knukles
knukles's picture

Ain't it amazing?
When it comes so far beyond the plae, some numbnut adherent of Fast Eddie Bernays comes up with something along the lines of "the money vaporized."

Many folks claim the average Joe to be the dolt, but even them that follows this kinda shit knows that the only place money vaporizes is in the care of Unclethug.

Thu, 02/09/2012 - 20:30 | 2144143 delacroix
delacroix's picture


Thu, 02/09/2012 - 18:16 | 2143746 Zero Govt
Zero Govt's picture

CME throws some sweeties at the punters..

..because the soup has gone sour

Freeze out the CME physical and get rid of your digitised FRN's held with cooked book banks too

Thu, 02/09/2012 - 18:14 | 2143748 agent default
agent default's picture

There was a mention in an article here some time ago that the Asian investors are bypassing the exchanges and buying their physical silver directly from the miners.  That's also beginning to become a trend in the US. The CME wants to get people off the physical and back to their paper bucketshop again.  Just say no.

Thu, 02/09/2012 - 18:21 | 2143764 wrs1
wrs1's picture

the miners must be selling at steep discounts then because their stocks are just going through the floor as the rest of the market continues to rise.

Thu, 02/09/2012 - 18:54 | 2143857 agent default
agent default's picture

They are, courtesy of the CME.  Miners sell physical at spot plus some sort of premium to offset handling and other expenses.  But, it is always better to own the physical commodity than the producers shares.  So demand will move the metal before and more noticeably than the shares.

Thu, 02/09/2012 - 21:13 | 2144259 Big Corked Boots
Big Corked Boots's picture

And for the man in the street, here's a silver miner who accepts credit cards:

Thu, 02/09/2012 - 21:30 | 2144305 DosZap
DosZap's picture

Big Corked Boots


So does Gainsville, and their Premiums were not that expensive.

Thu, 02/09/2012 - 20:29 | 2144139 trav7777
trav7777's picture

oh STFU with this nonsense

Thu, 02/09/2012 - 23:00 | 2144516 tmosley
tmosley's picture

WHAT!?  You were the one saying that all the users got their silver straight from the mines!  You fucking idiot, now you are claiming that the Chinese DON'T get it from the miners!?

Hail the king of hypocracy!

Thu, 02/09/2012 - 18:18 | 2143754 silvercountry
silvercountry's picture

Fool me once shame on you fool me twice shame on me.

Thu, 02/09/2012 - 18:24 | 2143775 nope-1004
nope-1004's picture

Try to fool me three times, then you must be a desperate banskter-shill-whore.


Thu, 02/09/2012 - 18:36 | 2143817 NotApplicable
NotApplicable's picture

Fool me once, shame on you. Fool me twice... well, I won't get fooled again!

Thu, 02/09/2012 - 19:43 | 2144010 Money 4 Nothing
Money 4 Nothing's picture

Good Ole Gee Dubbya. wait.. I have a video for ya!


Barack O'Bamas last job.



Thu, 02/09/2012 - 20:24 | 2144125 Au Shucks
Au Shucks's picture

+1mm for that classic from the bumbler himself

Thu, 02/09/2012 - 18:19 | 2143758 Saro
Saro's picture

Relevant video.

Thu, 02/09/2012 - 18:19 | 2143759 surf0766
surf0766's picture

So this means someone big is selling gold and wants the price to increase ... no?

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