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Gold and Silver Plunge – Called “Intervention”, “Window Dressing”, “Temporary Smash”, “Paper Fiasco”
From GoldCore
Gold and Silver Plunge – Called “Intervention”, “Window Dressing”, “Temporary Smash”, “Paper Fiasco”
Gold’s London AM fix this morning was USD 1,721.00, EUR 1,289.812, and GBP 1,079.13 per ounce.
Yesterday's AM fix was USD 1,788.00, EUR 1,329.96, and GBP 1,120.79 per ounce.
Gold fell 5% in New York yesterday and closed at $1,696.70/oz. This was its largest one day loss since December 2008. Spot silver was down 6.4 percent at $35.54/oz, reversing the 4.5% seen Tuesday.
Cross Currency Table – (Bloomberg)
Spot gold has risen more than 1% today after the sharp drop yesterday as Asian jewellers, traders and investors rushed to take advantage of attractive prices. Gold in Europe remains near the highs seen in Asian trade and is now trading at $ 1,718.38/oz.
There was blood in the gold and silver trading pits yesterday as leveraged longs got their heads handed to them on a plate.
The massacre was attributed to a host of different reasons - from month end book squaring, to the positive PMI numbers to Bernanke's suggestion that ultra loose monetary policies may soon come to an end.
None of these reasons would justify the scale of the massive sell offs seen in gold and silver yesterday.
Gold and silver markets saw massive sell orders from large institutional sources - as only large institutions selling could have caused a price falls of the magnitude seen yesterday.
There were highly speculative unsourced rumours of an Asian fund selling gold and rumours of a single bullion sale of 31 tonnes or some 1 million ounces by an unnamed seller.
The unusual trading activity saw some very determined sellers who appeared to not be motivated by maximizing trading profits.
One trader said how he had not seen that sort of volume before and the activity was akin to "computerised manipulation" and that there were “massive volumes going through and appeared as if some large entities had bids and offers at the same price”.
5 Year Gold Price Daily– (Bloomberg)
The positive PMI data would ordinarily result in some price weakness as would the testimony from Bernanke which suggested that the Federal Reserve's ultra loose monetary policies may not continue much longer.
However, the scale of the selling and size of the price falls was unusual.
Respected analysts such as legendary Jim Sinclair, John Embry and Jean-Marie Eveillard suggested that the sell off was due to manipulation by bullion banks.
Sinclair said it was an “intervention” and was “window dressing” that long term bullion investors should not be concerned about as inflation was coming due to “QE to Infinity.”
Embry said that it was a “smash down” and a “paper fiasco.” Jean-Marie Eveillard suggested that central banks may have intervened, as they are doing in fx and bond markets, and sold gold in volume into the market.
It is of course very difficult to ascertain what caused the sharp falls in the precious metals yesterday however it would be naive to completely discount what Sinclair, Embry and Eveillard believe may have happened.
The Commodity Futures Trading Commission (CFTC) has been investigating manipulation of the silver market for more than 3 years now.
While Bernanke’s nervous testimony in front of the US Congress yesterday drove down stock markets and boosted the dollar, many market participants believe the US Fed will launch another round of quantitative easing and will flood the markets with more cheap money.
This will lead to inflation - giving investors an additional reason to buy bullion.
European banks took €530 billion of cheap 3 year funds from the ECB yesterday, bringing to over €1 trillion the amount of money the ECB has dumped into the financial system in two months.
Bullion is still up 10% this year, on track for its twelfth yearly gain, as interest rates remain low and central banks continue to inject cash into the markets boost liquidity.
It provides yet another great buying opportunity for gold and silver bullion buyers whose are focused on the long term and realise bullion's ability to protect and preserve wealth.
It shows the importance of being wary of leveraged trading which should only be engaged in by experienced professionals and even they should be wary. 'Widows and orphans' should avoid all forms of 'paper gold' and stick to physical bullion.
The sharp fall in silver may again be used to warn and prevent investors from buying silver as it is "too volatile".
When similar sharp falls occur in equity markets (Nikkei and many European indices in recent years), it is never used as a stick to beat stocks. This again shows the continuing bias and double standard against gold and silver and in favour of equities.
Currency & Precious Metal Ranked Returns YTD – (Bloomberg)
It is worth remembering that while gold and silver fell sharply yesterday, gold and silver are up 9.5% and 24.5% YTD. Again, showing the importance of focussing on the long term diversification and safe haven benefits of the precious metals.
For breaking news and commentary on financial markets and gold, follow us on Twitter.
SILVER
Silver is trading at $34.77/oz, €26.13/oz and £21.81/oz.
PLATINUM GROUP METALS
Platinum is trading at $1,695.50/oz, palladium at $710.00/oz and rhodium at $1,475/oz.
NEWS
(Reuters)
Gold bounces back, bullish tone intact
(Reuters)
Gold down 5 percent, biggest one-day drop in 3 years
(Wall Street Journal)
Gold, Silver Take It On The Chin; Bernanke Warns Of Inflation
(Money Control)
Is the profit-taking in gold a buying opportunity?
(Jim Sinclair)
Today’s Window Dressing Fall In Gold
(Forbes)
Ron Paul Tells Bernanke He Killed The Dollar, Silver Coin In Hand
(Zero Hedge)
Ron Paul To Ben Bernanke: "People Lose Trust In The Government Because You Lie To Them About Inflation"
(King World News)
Embry - Gold & Silver Smash Temporary, Oil to Super-Spike
(Reuters)
Iran's gold-for-oil offer won't shake bullion world
»
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GOLD BITCHEZZZZ, oh wait maybe not...
What do you suggest then?
Speaking of gold and silver...You have to see this: http://youtu.be/jMnZXPz4KXU
How the media should be treated by Ron Paul
Hyper report had the link.
silverbugz got blowtorched
Look at a 10 year chart......we blowtorch back.
look at the 100 year chart and you farted
100 year chart is proof that the precious metals are money. Paper "money" is a joke, company scrip at best.
Gold 100 years-- From 21 to 1700 US Dollars per OZT
Silver 100 Years-- From 1 to 34 US Dollars per OZT
When the USA was on a Silver Standard.
1792 to 1964 (172 years) - One Dollar = 371 1/4 Grains Fine Silver or 416 Grains US Standard Coin Silver.
For all those years, the dime, quarter, half and dollar coins adhered to that standard. During that time, paper money was always redeemable for this much silver coin.
I find it incredibly interesting that this book speaks for almost a chapter about the 'value' of silver per ounce.
http://www.archive.org/details/coinsfinancialsc00harvuoft
The truth about things is often very counterintuitive. I do think that silver and gold are a form of durable wealth and intrinsic value. I also think you have to have good coinage laws and public/private mints and assay offices to draw this durable wealth into circulation to create prosperity and productivity.
You are talking about the legal definition of a dollar, also a "Thaler?" Non? Spanish Milled Dollar all the same thing or roughly~ the same since 1500 to 1964.
British "Pound Sterling" which was once a actual pound of .925 silver? Must have been a weeks wages, I have a hard time imagining one pound as one actual pound of silver.
Anyway the US dollar was sharply debased starting in 1933, ending in 1969, when it became an absolute joke and worth nothing.
When you speak of the Dollar being debased from 1933, 'The Dollar' was never debased until 1964. In fact, more and more silver coins were put into circulation as wealth. The Eagle Coins (The Eagle was the unit of measure for Gold coins) were encumbered by debt and removed from circulation in 1933. Now, think about this, if you have a bunch of wealth circulating as gold and silver coin and you remove all of the gold coin from circulation, wouldn't that cause a depression? If a whole crapload of that wealth went to some other country like Germany and they used it to build a huge war machine..could that cause a war?
http://www.afn.org/~govern/mcfaddengif.html
Read a book bitchez... The truth is self evident once you understand it.
"All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation." - John Adams
Now you can watch this speech with new eyes.
http://www.youtube.com/watch?v=iRzr1QU6K1o
you speak the truth
amazing how here in the age of "information" that it is next to impossible to find educational material in the united states that has honest information about how the corrupt banking system works
even here on zero hedge for example, you never hear anything about "usury rate/forclosure ratio curves"
not even the Tylers will tell you about that because they too have to answer to somebody
The Great Depresssion started long before gold was removed from circulation.....
Get your facts straight...
My facts are pretty straight I think.
You know, it took a while...about 20 years. (most) of the rest of the gold coin was seized in 1933 to pay the so called 'debt'.
You have to look at HOW the gold was removed. Read the congressional record. Senator Mcfadden was a banker.
Oh yeah, the gold mines in operation after 1933..and there were some huge ones... Where did all that gold go?
Atlas = the poor (uneducated) People of the USA..that the rest of the nations of the earth are always making fun of..and Atlas is currently shrugging (I don't like Ann Rand..just think the picture fits).
First the gold, then the silver, then the land, then the people. We ain't got nothin else to trade for scrip money. 16 Tons and What do you Get..another day older and deeper in debt.
http://www.youtube.com/watch?v=zqyRAxW-uOg
When was the executive order signed?
When did the economy collapse?
Please read the sources I gave you. You are speaking to someone who has done hundreds of hours of reasearch. I keep thinking that maybe, just maybe, there are a few people that belong to the TPTB Club that read Zero Hedge and actually might want to fix things and restore prosperity to this nation and the other nations of the earth. Even when we just partly followed the foundation laid out by the people who started the USA and the others before them it was a wonderful thing.
It is amazing that we have all of this information exchange but so little understanding or wisdom. All of the knowledge needed to fix things is already there.
http://avalon.law.yale.edu/18th_century/bank-tj.asp
Here is another one...back when men were men and you put your objections on the record.
http://avalon.law.yale.edu/19th_century/ajveto01.asp
Look you allude to US gold being shipped to fund the German war machine in the 1930's....That is quite a statement....
Funny since, the Germans ran a full blown Keynsian stimulus....
Gold was freely convertible until April 5th 1933...
Any idea what fraction of World gold reserves were in US possession at the time??
Silver was, well, our coinage...
So you don't like the Fed and Central Bankers.... neither do I, but that doesn't mean you get to make stuff up....
I didn't allude to anything. I asked some questions. My questions may have formed a possible idea in your mind...but that is all you, not me. Nothing ever wrong with asking questions. How exactly did the Weimar Republic recover from all that inflation. Yes, I know what you are taught in your history books...but how did it really recover? It was like magic right? The people just accepted the new currency? Why did they accept it? Who owed "who" a big debt after the first war? Here is another question. Was the 1913 Currency Bill similar to the Reichbank act? Did the Reserve Banks just have branches in the USA or could their notes be redeemed in other countries? What exactly does it mean to redeem someones note? What exactly is a bank?
Here is a quote of your from above...
I suggest that you read "Lords of Finance" for an in depth discussion or read up on the origin of the Rentenmark...
Now I really should do something constructive, bandying words with you has proved to be an utter waste of time....
Tell ya what Flakmeister. Do this, go on ebay or to a coin store and find a series 1914 Federal Reserve Note - any denom will do. Flip it over and read the fine print on the back and also the little blurbs on the front. Now find a series 1899 United States Note and read the print on that. You might even be able to find a readable image of these notes on-line somewhere - I am not going to search. After you do all that, then go read this. Here is a nice HTML version of what I linked earlier.
http://www.afn.org/~govern/mcfadden_speech_1932.html
Then read the book Coin's Financial School. You will understand more about money, economy, credit, etc. after doing those things than 98 percent of the population. I promise! Lights will go on..bells will ring, you will have epiphanines...etc...well maybe not...but it is an incredibly interesting subject to study.
Oh yeah, if you purchase one of those 1914 notes, try to find out if it can still be redeemed according to the text on the back.
Good luck.
Wow... just get over it, already... go out buy some silver or gold or whatever you think should be the foundation of monetary system and leave the rest of us alone...
You can't put Humpty Dumpty back on the wall...
I don't know why you say that. I don't get my ideas about life from Children's nursery rhymes. I am sorry that now you sound angry. After you get over that, start educating people. I am pretty sure that most of the problems Can be solved and that most of our troubles do come from lack of education. I also think some forgiveness for the people who are currently trying to keep this system from going off the rails would help.
I know this is hard to believe, but if you read the history of some of the old industrial age factories in this nation, there was a time when gold coin was 'almost' counted as nothing.There were huge factories that paid their workers in gold coin every week. You can find a lot of those factories in ruins now around some of the big cities. There was no personal income tax. You traded your labor for coin. That was it...even swap. The USA made about 50 percent of the worlds merchandise. There was A LOT of gold coin in circulation. Federal Government was funded mostly by tarrifs/customs on imports.
Here is a little tiny one...this one was converted to making parachutes and such for the war effort.
http://www.youtube.com/watch?v=eu7jameurcQ
http://en.wikipedia.org/wiki/Scranton_Lace_Company
Know that they paid their workers in US Gold Coins from a documentary.
You have no idea what the USA was like when we (almost) followed our Constitution.
"When you speak of the Dollar being debased from 1933, 'The Dollar' was never debased until 1964."
Revert I beg to differ on this point. Up until 1933 in the US paper money were gold certificates. Each "dollar bill" was a certificate or chit for gold or silver? After 1933 the gold was removed and reneged as backing for the dollars. I'm surprised the shee-- oops, the "greatest generation" didn't flush their debased notes and make a switch to Swiss francs (a similar tactic used by the smart in Weimar, Zimbabwe, Yugo etc) and let the dollar go to its more natural value.
Rosenvelt not only reneged on the promise/contract to redeem gold certificates for gold, which should be considered fraudulent and criminal, but furthermore he stole at threat of jail and huge monetary fine the physical gold from the entire shee, sorry, "greatest generation" who promptly elected him 13 more times.
1933 was a debasing event, also 1965, 1969 (when the last, reduced silver was withdrawn from the .50 piece) also to a smaller extent 1982, and the last two which will occur the future is when they remove the nickel from the "nickel" then when they remove everything and eliminate cash and go digital mark of the beast currency.
All that being said the US dollar is still the worlds strongest currency, backed by bombs and drones and soldiers willing to die to enforce it, down the throats or willingly on places like Iraq, Zimbabwe, and I heard a few Latin countries are using it not sure.
Shh...don't tell them about the nickel.
You have to read the book I linked and you can't let paper credit money confuse you. The dollar was defined as a measure of silver by the 1792 coinage act. It was like saying a Gallon of Milk. A Dollar of Silver. Paper money was all redeemable for specie. A gold eagle coin was 'worth' ten dollars but the dollar was always silver and the eagle was always gold. The whole idea of the founding fathers was to coin money and regulate the value thereof. The Silver Dollar never changed in all those years. That was the standard. The regulation of value was 'supposed to be' accomplished by varying the amount of gold in the Eagle. The gold coins could be reminted because the amount of gold was so much less than the silver in circuation. This could either have the effect of drawing gold or silver into or out of the country. It was a brilliant system. Issac Newton had a big hand in figuring it out. Read Coin's Financial School. I am a piker compared to Coin Harvey. You have to sit down and read the whole book. Once you have understanding it is really cool and very counter-intuitive. I can't do in a post what he takes an entire book to explain. Keep in mind while reading the book, he is bitching (technical term) about them jacking (another technical term) with the Coinage laws for Silver. You will get it by intuition if you read the whole book. Banking back then was also very different. Paper money (credit notes) could be discounted by Banks.
I think we are on the same page. I have tried reading coins financial school but I got bogged down on the jumping back and forth on gold vs silver values and the little differences. I'll try again and I will read all the links you posted in your above posts.
I like your posts.
BTW: Coin Harvey wrote other books. He even penned one after the Fed was established called "The Book". It is very hard to find. I have read it. It is even better than Coin's Financial School. Coin's financial school was 2nd only to the Bible in sales for quite a number of years. I think it is interesting that most people these days have never heard of it.
You have sorta hit on the fundamental difference between script money and specie. With specie money like gold and silver people have a natural desire to have it and it is accepted and traded freely. Watch the last episode of Gold Rush..some of the miners were paid with placer gold. They freely took 5 or 10 ounces of gold dust for a hard season of work. They were happy with their pay. It is an amazing scene. I have some theories about why people almost always want gold and silver but I am still thinking about it. There is another interesting scene in Bering Sea Gold on Discovery Channel where the young couple trade some placer gold for Federal Reserve Notes. You can't really learn a lot from reality shows about human nature because those people know they are on camera and I think people can change their behaviour a little bit when they know they are being watched but you can discern a little bit from those scenes. You have to keep in mind how far out in the wilderness they are and it is interesting that guy would venture all the way out there to purchase less than 2oz of gold. That show also shows one of the monstorus abandoned dredges from the first Nome Gold rush.
This is an interesting picture for someone studying banks and money.
http://old-photos.blogspot.com/2010/11/miners-and-merchants-bank.html
Also reccomend Mark Twain's 'Roughing It' chapters on his experineces in the Silver Rush. There is always a little truth in humor.
Wanted to say one more thing about FDR, etc. (neverminding WHY he had to do it) The end result of his whole deal was to re-value the dollar in terms of gold. That was what the whole mess of Bretton Woods accomplished. Now..wouldn't it have been easier just to re-mint some smaller $10.00 eagle gold coins? Think about it. It would have accomplished exactly the same thing. People would have went along with it because just by turning them in, they woulda got 1 1/2 or 2 or maybe 3 new $10.00 gold eagles for their old $10.00 gold eagle. This is an ah-ha moment when thinking about the Constitution and the original money system. So simple, so subtil, so beautiful..."Coin Money and REGULATE the value thereof". Silver Dollar always stays constant. Just change the weight of the gold coin if necessary to do some regulatin. So cool.
Too bad McFadden couldn't or wouldn't just call the euro-bankers Jews.
http://www.youtube.com/watch?v=yldgS-ySo24
100 years? I have underwear older than that. PMs have attributes that make them very usefull as money but money is not limited to PMs. The most successful monetary system in history, lasting almost 800 years, was a fiat system.
It's not the fact that it's paper that makes it a joke. It's not even the fiat system that is a joke. It's the people running the system. The Gold standard is coming back and the same people who control the current system will control the gold system. Why on earth does anyone think this will benefit the people? It may benefit a tiny fraction of zerohedgers but the majority of people will be screwed. Gold and silver will never circulate as money again, at least not until after a nuclear Armageddon.The reason government was conceived was to check and balance the corruptness of man. If the corruptness is held to a reasonable level, the people benefit. If the corruptness goes unchecked we have the situation we do today. It is not possible to "system" our way out of this. If Congress was full of Ron Pauls, we might have a fighting chance. I don't agree with everything Ron Paul says but his record speaks for itself. He can't be bought, blackmailed or threatened.
As long as our representatives can be bought blackmailed and threatened, we have no chance of ever getting our country on the right track and make no mistake, the vermin that make up the Congress are put there, by the money power, precisely because they are criminals misfits and perverts who can be bought, blackmailed and threatened.
Sinclair said the 70's Gold Rush, it was common to see $50-100.00 a day moves THEN.
And he also said to EXPECT $100-$400.00 swings THIS time in 10 Minutes.
Just have your precious, and sit tight, it's just a matter of time.
We fold, they win, only paper pussies fold or weak hands.
Stay in the good fight, in the end WE WIN.
No doubt about it.......screw them.
Not really. Silverbugz don't sell silver for dollars. We buy silver with dollars.
As I have said many times, the lower the paper price, the better. Not only does it allow us to buy more, it depletes supply by a greater and greater extent, bringing the inevitable industrial panic closer.
we're going Zimbabwe soon
buy as much pm as you can at any cost
or go hungry when the shit hits the fan
coming soon to your neighborhood
brought to you by the friendl united states government
wow, so your goal is to cause an industrial panic. That's totally fuckin awesome. You are really a bighearted fellow...I wonder how many people needing silver for antibiotics or other critical industrial uses will die as a result of your and silverbugz' desires to be petty tyrants.
You piece of shit...you say I worship Bale and death...fuck you. You are here hoping to cause a fucking PANIC. LH called you exactly for what you are, you fuckin scumbag.
Hey trav I heard that black people like silver
Silver toofs, bitchez!
"My" goal?
Yeah, sure. My goal is also to make the Earth go around the Sun once this year. Or to have the government collect taxes on incomes. Or to make water wet.
Nevermind that I am stockpiling silver to meet the needs of those people you talk about, while you want people to squander it all now, and leave them to die with absolutely no option when the industrial panic comes anyways.
You are pretty pathetic there, Trav.
yeah, bitch YOUR goal. That is what YOU want and you are trying as much as you can to make it happen.
You're going to "meet the needs" ROTFL. You fucking liar; you are going to try to lord it over their heads and be a petty tyrant. You will be killed by sane people.
.
So, Trav, sending yet another lame recruit from your veritable army of strawmen onto the field of intellectual battle again?
I could rip your capacity for critical thinking, as well as your sincerity and honesty, to shreds here once again, but suffice it to say that preparing for the inevitable is hardly equivalent to the inevitable being a desired "goal". Or does every ship captain who keeps lifeboats aboard secretly wish for his ship to sink?
WTF...the dude SAID that one of his purposes was to SPEED the industrial panic.
That's like ah, the old guy is gonna die anyway, let's push him now.
You people aren't preparing for the inevitable, you are hoping to help CAUSE a panic so that you can capitalize on it. You are all a bunch of pieces of shit.
And YOU are a flaming hypocrite and a blatant liar.
Why do you own gold then, if not because of the inevitable dollar depreciation and/or collapse? So you intend to thereby profit from the coming financial and monetary chaos, right? That makes you just as much a "piece of shit" as is anyone holding silver in your eyes.
But, in the REAL world, holding neither makes anyone a "piece of shit" --- only those who rabidly and irrationally rail against those who hold gold and silver, such as Jon Nadler and Bob Moriarty, and who maliciously try to steer investors and savers away from the financial lifeboats of precious metals, are the actual pieces of shit.
Trav is succeeding as a troll as I never could. Where did I go wrong?
I mean to say silver got blowtorched when it's higher than three weeks ago is preety good stuff
When you're mainlining lithium....you have a pretty short attention span.
Mogul is a close second to Trav for the new Troll of the Year/Methman Award.
Make me laugh!
You are forgetting Anymouse, our dear nose-picking, roadside shitting, running dog imperialist Chinese citizenism friend, who has blobbed-up any number of threads in the last couple of months.
I think "success" as a troll should probably be measured not by how many posts he puts up, but by how many people take him seriously, don't you?
Paper silver readily burns.
Blowtorched ?? Silver bugs see this as just another buying opportunity.... seriously, for a true silver bug it's buy and hold, buy and hold, buy and hold. We see silver as a store of wealth, not some casino game you play with pieces of paper or digital inputs. That's a fools game....
true bugz love smackdownz: like taking candy from idiotz
As of two days ago Silver was up 30% since Jan of 2012. It's now at around 25%. If a 25% return in two months is being blowtorched, Please Blow me!!
Hey, Trav, silver's still up 24% THIS YEAR. Blowtorch it out yer arse, ya wanker.
Oh, and FU.
Each FED paper note contains 12.44 BTU. They can be used to start a fire so you can cook that fresh (or not so fresh) road kill.
Thanks, man! That gives us a way to calculate a lower limit on the value of the 'dollar'!
If we look at largest-denomination bills ( assuming they don't start printing something larger ) -- the dollar will not fall below the point where a pile of hundreds has heat-output parity with a cord of hardwood.
A cord of white oak has 26 million BTUs. A hundred dollar bill has 12.44 BTUs.
26,000,000 / 12.44 == 2.1 million hundreds.
The Federal reserve Note will not fall below the point where a cord of hardwood costs $210 million.
Ah, but to scale that down a little -- there are about 700 nice-size pieces of hardwood in a cord. so 210 million / 700 ==
$300,000 per nice-sized piece of white oak firewood.
And so many of you guys said it would go to zero! Bah!
Would be good to cook Ben's,Timmy's , Jaime's and Blythe's goose with it
Guns/Ammo/Scotch
"When I first heard about the Bureau of Alcohol, Tobacco, and Firearms, I thought 'Man, there is the job for me!' "
land. and a kubota tractor. and a "farmer john song in your head" while your plowing "your field." this song is a good one:
http://www.youtube.com/watch?feature=player_detailpage&v=PBmZMdq-kwM
Sorry to see you go, Davey Jones!
LOL...good luck getting diesel fuel for that and parts, you doomer idiots
Who's going to SHIP IT TO YOU when the "trucks stop bringing food to the cities"?
You really should stop putting words in other people's mouths.
Why did you put quotes around the words that came out of your own dumb head?
Oh yeah, because you are a liar.
how did you know I was talking about you? Oh yeah, I said "idiot."
of course it was manipulated ... still doesn't mean I wasn't as happy as PIIGS in shit that I had tight stops in place. sorry you manipulative elite scum, but you did not crush me this time. go ahead - play your games. we are on to you.
Looks like they've already got their hands on greece's gold.
They had to paint a red candle for gold on the monthly chart. They couldn't wait until today.
so. manipulated.
one can only image how far re-hypothecated gold and silver are.
if i may ask a simple question, with an answer in the form one may find in...." manipulations for dummies"
i understand naked shorting..
when they apply the naked shorts in the silver market...how does that start the cascade downward?
do others have to sell their positions to allow success of the attack to occur?
and please expand your answers as needed..thanks in advance
.
Steep run ups on volume such as occurred in the silver markets over the last few weeks tend to catch the long term institutional shorts exposed.
The only tactic for them is to let the price skyrocket to the point that short term speculators (usually retail speculators and panic buyers- weak hands) start taking profits, then start a high volume short selling campaign, driving out the speculators and weak hands and then they can cover all their shorts at a lower price. This tactic requires that short term speculators join the selling frenzy to lock in their profits. It also ensures a rebound and future buying pressure to cover the recent short selling. That should be happening over the next few days. Ideally the market manipulators (institutional longs and shorts) want to see a managed increase (this is inevitable) with predictable (manipulated) volatility as opposed to these dramatic upward spkies which can squeeze them. Short attacks like yesterday's are a very risky business for naked shorts.. there is always the possibility that the longs overwhelm the short sellers and the spike upwards continues. Yesterday's volume was quite remarkable and reflects the magnitude of the upward momentum in silver demand.
Lots of stops getting triggered also helps. Some of the weaker hands have set stops on their paper contracts to lock in gains or to keep from going bankrupt if they are highly leveraged. Further, you'll probably see some margin calls over the next three days, keeping paper prices subdued. When it all washes out, you can expect some climbs in price next week.
thanks stupid...
so most likely the other day was a test to see how much paper would be needed to get the desired result....
Ponzi is coming to an end in March, bitchez!
Fonzi says "Ahhhhhhhhhh!"
FONZI pushing reverse mortgages on TV........really just equity refi's.......makes me gag.
Been hearing that for five years now... not gonna happen... they may substitute one false currency for another, but the ponzi will continue until that begger class of all the baby boomers expires.
No it continues until oil can no longer be bought with US dollars....
So ponzinomics has a ways to go unless your faith in the US military is not what I think you think it is.....
They were calling the drop in gold and silver the result of a fat finger on CNBS today. Call it what it was.... A hit job to scare people out.
> A hit job to scare people out.
Our history is rife with parables.
The Boy Who Cried Wolf comes to mind here. He fraudulently scared the townspeople one too many times, until one day they caught on to his machinations - they then beat him sensless and threw him out of the villiage.
The quality of life increased for the townspeople after that and the boy was killed in the woods by wolves some time later. He died scared and alone.
But the boy who cried wolf did'nt have the entire resources (natural and man made) of the planet at his disposal. I have zero faith in a revolution, peaceful or otherwise. Have you talked to the average person? How about the above average person? How about the really really above average person? They are all clueless, no matter what educational level they are at. They have been systemically dumbed down through the JEWISH controlled Department of Education, the Jewish controlled news media, the Jewish controlled entertainment media, the Jewish controlled FDA, the Jewish control of our water supply.. which is full of chemicals designed to reduce your cognitive abilities.
As long as people continue to be oblivious to the differences in nature between the people in charge and the serfs... America is doomed. When you consider that this difference in nature is further widened and strengthened based on inequity in IQ between the groups,... well the situation looks utterly hopeless.
My reply was merely regarding the PM markets... sooner or later folks who trade, purchase, collect or hoard PM's will see thru this manipulation shit and scare tactics, like crushing the paper price, won't much matter after that. As a minor point, ASE's continue to sell in record numbers even after some of the mindblowing takedowns over the last year(s).
Otherwise, I understand your point.
Don't say I didn't tell you so...
Ok, you told me but that wasnt the important question...
If the banks are spending their money on a bailout how will they ever buy gold?
Because otherwise this is just a solid banker takedown.
well... if greece is an example, they just take it.
what exactly did you tell us ORLY?
Scientific Study Shows That The Powerful and Privileged Are More LIkely to Lie, Cheat, and Steal
http://jessescrossroadscafe.blogspot.com/2012/02/study-shows-that-powerf...
causation is backward
I thought the same when reading the article
A. Correlation is not causation, FOR THE BILLIONTH TIME.
B. That paper didn't say anything about causation.
C. You are an idiot.
I could have gone without restating C, as it is implied.
Today, C. is going through my mind every time I pick up the phone to someone in my credit department.
You motherfucking moron.
The TITLE OF THE ARTICLE ON WIRED: "Greed Isn’t Good: Wealth Could Make People Unethical"
English, MOTHERFUCKER, DO YOU SPEAK IT? From the THIRD paragraph: "Occupying privileged positions in society has this natural psychological effect of insulating you from others,” said psychologist Paul Piff of the University of California, Berkeley. “You’re less likely to perceive the impact your behavior has on others. As a result, at least in this paper, you’re more likely to break the rules.” "
How many times are you going to need to get your ass handed to you?
You do realize that you are referencing the Wired article, and not the published paper, right?
That is actually your own ass you just handed me. Thanks, dumbass.
You fucking RETARD.
Did you even BOTHER TO CHECK YOUR FACTS before running right in to get your head cut off again? You are a truly SPECIAL kind of stupid.
The guy I quoted in my second cite WAS THE AUTHOR OF THE STUDY. He was quoted by Wired in their description of his findings.
Good fucking GOD you are a clown.
I'd love to see the biological tests that lead Mr Piff to these conclusions. You do understand that the foundation of any medical science is biology? You reference a field that is completely fraudulent and demonstratively unscientific. Psychology is not science. Psychology is a bigger and more dangerous racket than the whole ponzi economy.
Oh My GOD, psychologist Paul Piff said "having money is bad!" .
Oh my GOD Obama spokesman Jay Carney said "the economy is growing, unemployment is at an all time low and everyone in America will receive a new car from Obama if he is reelected." YEA!
Nature vs Nurtrue? Some children are seemingly influenced by their early family environment, some seem totally immune to their early family environment.
This debate among sociologists, psychologists, etc, has been going on for a long time.
Anecdotal comment: My ex son-in-law was an embezzler... so was his father... I am wondering how those grand kids will turn out. :)
The debate has been resolved in favor of nature for some time now. You really should keep up with current research.
Family environments are the way they are primarily because of nature. Culture is created by people, not the opposite.
Don't listen to pseudoscientists like psychologists for answers on science.
Right, cause Trav the Liar sez so.
Take a hundred white babies and dump them in the middle of the rainforest and 30 years later there will be a thriving metropolis there.
Dark Ages never happened. Whites were never stupid. IQ was always what it is today. Normalcy bias unto death in all things.
how many ways do you want me to take apart your idiocy?
Any post by you is so target-rich I can barely figure out where to start. Between the utterly stupid things you say, the strawmen, the reductios ad absurdum, just the sheer MORON that is you.
What a clown you are.
When you die, the world will be a better place.
Don't listen to pseudoscientists like psychologists for answers on science.
But you just referenced Paul Piff, a "social and personality" psychologist at the University of California, in order to make the point that rich people are bad.
I don´t understand the whole "I´m backing the truck up if we have a correction" thing... Why didn´t you just buy your gold a month ago, when it was at the very same level?
Not everyone has fiat available at the time PM's ebb and flow. Being a fiat system (for now) cash flow is vital and conjuring it up only works for the CB's.
You might as well say, why did'nt you buy it four months ago when it was even cheaper or why did'nt you just buy it all in 2002 when it was $400. Most people trade their labor for greenbacks and have to wait for a paycheck. Buying on the dips and cost averaging is basic stuff. If the trend is up, it makes sense to buy when the price dips... as you can afford to.
Beacuse a lot of people here are bullshit artists when it comes to PMs
Gold goes up, gold goes down.
As opposed to bonds and equities; they go up, they go up (as long as Bernanke has his way).
my GOLD and SILVER have skyrocketed since 1971
i don't know what the hell you're smoking
even if your glorius paper went up 20% per year it wouldn't even come close to keeping up with inflation
you fucking troll
Very transitory. Oil and gold will rise together. 10-20 million new Chinese drivers per year. I don't believe they'll be buying ETFs, more like wedding rings and physical.
Can't see most Chinese buying paper gold or silver. Long experience with being abused by governments over thousands of years. They know they don't own it if they are not holding it in their hands.
Physical metal has been in their culture for centuries, this can only mean their past hoarding is still off the radar and can now buy more, legally so I read. That = less and less and less...
Even Hugo Chavez figured that out, even before MF Global disappeared. There's sure to be more Madoffs and such. That's probably why it's taking so long for Europe and the U.S. to go bankrupt. They don't know what cards they're holding.
No time to wait BTD! Physical Gold and Silver 317CHEZ
I BTFD yesterday. I've been told delivery will take 4 to 6 weeks due to shortages.
Maybe you should buy in bulk at Tulving then.... 2-3 days tops for 20 Kruggerands...
or any of a number of other dealers....
Maybe they are just trying to get their dig in after the Ron Paul questioning of Bernanke. Holding up his silver coin and having the audacity to call it Money.
In an interview with King World News last night, market analyst and mining entrepreneur Jim Sinclair details the intervention against gold undertaken by central banks today.
Sinclair says: "Today does qualify as one of the biggest injections of liquidity into the system in the history of the system. Today was a cover-up by the Federal Reserve and by the mainstream media of one of the largest injections of liquidity into the system that has ever occurred."
The link to the KWN interview is here.
(From Ed Steer in today's email letter.)
Desperation move by WS...."death throws" my doctor calls it.
Like I needed a reason to buy more. Thanks JPM...
I backed up the thimble today
Your sexual orientation is not the issue.
This one was too easy to predict. I got short on it tuesday and sold some GG near the top, actually over $50, the recent top. This is a mini repeat of September when they collected on all the ITM options. This time it's only 29k that were ITM and so far, according to the OI report this morning, 11k were collected. There are probably another 15k to go. That should allow one or two more days of drops and possibly a bottom at 1650. Then I think back onward and upward toward $2000 again.
However, if the stock markets begin to implode then gold and silver may have problems. Silver should revisit $30 IMO but it seems to have found support at $34.50 right now.
It looks like it bounced off the 200 MA pretty well, that being @ $1,688 or so, no?
I am confused...do I buy a Greek CDS or Gold...or Apple.....lol
BTW the miners are a great buy, all you physical pumpers listened to Cramer and missed the real bus backup last December. Oh wait that would make me a miner pumper
forget it....
It is a prediction of EUR/USD long term trend, which was made in October 2011 and which starts to resemble reality relatively well just now. In essence it says that while PM's in USD will be going up, so will be USD value vs EUR, or in EUR PM appreciation in 2012-2013 will be about 20% more than in USD. I suppose that means in general that USDx is moving up for few years.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&start=1520#p36692
The reason I see USD doing fine vs. other USDx currencies is that despite losing its value vs. commodities, it will still be the most wealth preserving currency due to its partial nature of being commodity itself (which is right now of course being eroded slowly but surely with printing, and will be gone with the USA partial default).
The USDx chart I made in October proposes dramatic upswing right now. Need more time to check against reality, even though so far it has been correct. You may disregard comments I made around the topic in the post, they were reflecting ideas I had at that time.
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a&start=600#p34401
I will make a new EUR/USD slightly squeezed on time axis prediction chart once it becomes clear that the top at 1,35 was the right one. Or not.
You back spamming again full time?
They are getting scared. Look out for making it harder to own physical or outright confiscation real soon.
Any thoughts on the relative merits of purchasing junk silver vs. a monster box on this pullback?
Thanks in advance.
Do you have any junk silver now? If you don't have any, that would be my choice.
I only have Gold and Silver American Eagles now... But I've got some fiat burning a hole in my pocket.
If you can find the junk silver at a good price, go for it. My coin shop charges $1 over spot per ounce for junk. It's going to be real useful soon. Use coinflation.com to assess the value of junk silver coins.
or just multiply face value of the "junk" x 0.715
Whaever you can get at the lowest premium to spot is good. Avoid "numismatic value" items unless you are already an expert, or you will pay high premiums/get ripped off.
Thinking about the desireability/strength of the silver when you want to sell it is good. ASE are good for this. Everybody (pm bugs) recognize ASEs so these are preferable silver products for Americans to own.
Find the best face value conversion. Provident metals is currently around 25x face. Tulving is great if you have enough money to play.
Kitco bag of silver.
Can kicking is an art form with all the manipulation and liquidity pumping. PM's make rational sense but are those in control making rational sense?? expect the unsenseable, find the motivation of those in power and good luck timing it.
We need some Kyle Bass porn, Any recent updates from him? would love to hear is opinion on LTRO and some new perspectives.
Yep +++1000 to more KB !
Fedfather Bernanke
Silver is dead. So is gold -- Momo Grean -- Stocki -- Bondi -- Today I settle all
Fed Family business, so don't tell me you're innocent, Dr. Paolo. Admit what you did.
apologies to M.S.
"The Commodity Futures Trading Commission (CFTC) has been investigating manipulation of the silver market for more than 3 years now."
..............................
Perhaps the CFTC investigation will still be ongoing when PM trading has shifted to the East and the results of their 'investigation' are irrevelant?
The favorite ploy of all governments is to prolong a decision until there is no decision left to make... excepting, of course, any decision that effects favored banker bonuses and campaign funding.
Yes,
...look into it.
it seems to make some sense the effect of additional queasing may be approaching a nonlinear zone do paper and physical track in these events? did the ltro affect gold? is it a coincidence that Benny released his news roughly concurrent with the ltro - good test of the algos. there's a huge dichotomy Europe is on the brink while US is poised for renasance - right? I suspect Ben was embarrassed by his bullshit data.
"There's a huge dichotomy Europe is on the brink while US is poised for renasance - right?"
..............................
A couple of questions:
Europe is on the brink of what?
What is the 'US renasance' you are seeing? BTW, it's 'renaissance', not renasance... and, I'm not being a grammar cop but I have been seeing so many misspelled words that it's screwing up my spelling... which is screwed up enough already.
Europe on brink of financial collapse - hence the apparent dichotomy. if you take it at face value think like robo
I don't know what all the fuss is about. Counted bars and coins last night, same number as the day before. If compared to fiat, both gold and silver are up big on the year, and up even bigger the last 10+.
I hear you but does that mean that you're not richer if gold goes up over $2000/oz? You still have the same amount of gold, don't you? Then what is the point?
I hear you but does that mean that you're not richer if gold goes up over $2000/oz? You still have the same amount of gold, don't you? Then what is the point?
You decide to lose, or win less, when you sell.
price drop manipulation by the fed no doubt about it, but the interesting part was they can't move the needle far enough. like every other time, i could be wrong, but it seems to me that was their max range of manipulation and their hand is now revealed.
If you are a PM bull, buy physicals and put them away near where you sleep at night(or most of it) and don't trade futures(especially Silver), unless you can honestly conclude that you have extreme gifts in the trading arena, or at least a ton of experience.
There are still "pits" around? You mean with "humans" in them??! Nah can't be
Not Human!?!?
C'mon! Just look at these teeth!
http://www.hdwallpapersdesktop.com/Movies/Terminator/Terminator-t800/Terminator,%20t800%20wallpaper,%20robot,%20desktop%20wallpaper.jpg
By The Fucking Dips
http://1.bp.blogspot.com/_0y9fxTUPzEo/TCY0sYNXtvI/AAAAAAAANSc/9POuE10ki3...
Finally I got one right! Backed off on Tuesday and went back in this morning levered!
Although, really... it was more luck than judgement.
I learned one thing though - never stay in levered without a stop