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Gold Sliding On Central Banker Script - First India Cuts Rates, Next Tries To Talk Down Gold
Gold has moved rather rapidly in the past few minutes and many are scrathcing their heads just why this is happening?
The reason is simple: central planning script 101, page 1. As we noted earlier, the RBI did a very surprising overnight repo rate cut from 8.5% to 8.0%, the first in three years, and in other words it has just joined the global central planning cartel in attempting to stimulate the economy nominally, even as inflationary packets still abound across the land (see China), by reliquidifying. Yet what does that mean from a modern monetarist standpoint: why crush gold as an alterantive to the local paper currency of course. Sure enough:
- INDIA ECONOMY SECRETARY: EXPECT TO LOWER GOLD CONSUMPTION IN ECONOMY - DJ
And there you have it: because the last thing India needs is a surge in gold buying now that it too has joined the global reliquification parade. That said, we are curious in what parallel universe will liquidity easing result in less demand for hard assets. Ask the algos who are selling on nothing but headlines, yet oddly ignoring the fact that India and now Austrialia appear set to enter the race to CTRL-P's bottom.
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Tradition just went on sale this morning. Get you some.
http://www.youtube.com/watch?v=6-I1mugY5Ds
gold bashing bitchez
Just a little intervention.....courtesy of the BIS.
Two years ago on the day I started the BUY SILVER - CRASH JPM MOVEMENT. This moveent was designed to not only crash JPM, but crash the dollar, and it gives us comtrol of the monie supply, and our right of equal exchange and fair value. Ya'll know the drill.....
BUY SILVER!
Max?
We love you Max!
I am not Max, and Max does credit Zero Hedge with starting the Buy Silver - Crash JPM Movement, as he should, since the post I made that summerized our motives was in due fact because he pointed out JPM's short position, and everyone was yelling about a Comex default. I just put 2+2 together.....on Zero Hedge....2 years ago today.
indians are compulsive liars who are trying to out lie Jews in their own ponzi scheme.
How about that nice V-shaped recovery just as the TOTUS speaks? Or is that a "V for Vendetta"?
That's not a V, it's a roshambo
Indians have a unique take on the English language -
It's pronounced CHEAP, it means SMART.
Indians are marvellous and no threat to anyone because
of lack of chutzpah. The religiously impaired part of
British India got amputated and is as intended only a threat
to herself.
"and everyone was yelling about a Comex default. I just put 2+2 together.....on Zero Hedge....2 years ago today."
COMEX defaulted, JPM didn't
http://i41.tinypic.com/i3tk44.png
What you forget is that we do not have fair and free markets. The Crimex increased margin on silver 5 times in just 8 days (up 84%) in May 2011 to crush investors. Sorry, JPM won that round hands down and made billions. Unless the Chinese and Indians pitch in, the Morgue will win the next round too.
http://goldandsilverblog.com/how-the-comex-crashed-the-silver-market-0235/
The great thing about the Movement is that we buy an item, silver, with great value, intrinsic value, with fiat money that has no intrinsic value. No matter the short term price fluctuation, we have collateral. And in due time, as long as we continue, we can take down the great Beast upon us, JPM, and it's proxie banking system.
I'll provide the bank account number. You send me that worthless fiat.
JustObserving wrote : 'The Crimex increased margin on silver 5 times in just 8 days (up 84%) in May 2011 to crush investors.'
I wouldn't call long, margined, paper traders "investors".
The Indian rate cut looks very ill-timed considering headline inflation is barely under control.
Just wondering how Gold pricing (the real pricing) based on actual global consumption, annual production happens ? Is there a production / consumption report one can refer to somewhere.. Not the futures pricing !!
http://www.kitco.com/ind/Holmes/holmes_feb222010.html - breakdown by usage, by nation (jewelry), by nation per-capita (tons)
http://www.kitco.com/charts/CPM_charts.html - highly detailed but data ends at 2009
And people wonder why so many of us have lost faith in government...
You can't lose what you never had...
Punish the savers and investors. Free market my ass. These PM's have been locked in a predetermined trading range and at the end of the month, your net -0- it seems to me.
options end this week; and PMs are basically an end game; watch what happens when everyone tries to save their own asses.
Mr Geithner what's the risk that gold spikes above $2000/oz as central banks print?
Geithner: No risk of that.
If Gold spikes and holds $2,000 troy oz, then they all become proven liars and the scharade is exposed. That's a big part of their cover up.
No. They will just continue like nothing happened, like they've done many times already. Nobody is putting their heads on a plate so they can continue to do what the f*** they want. And they will.
Eventually those shorts have to be covered or delivered. Imagine my shock when the NYFed and Ft. Knox have nothing in them. Nobody could have predicted it...nobody. (And this is certainly not a predicition or anything.)
Naked shorts are easy to cover. Smash the price with more longer term naked shorts and then cover your near term shorts. You can do this for frickin forever.
Eventually those shorts have to be covered or delivered
O RLY?
Why don't you tell that to the MF Global customers who didn't get delivery AND had their accounts emptied for a bonus move.
c-c-c-c-c-COMBO BREAKER
This fucking con game is now global!
Alert FOX, there's a War on Gold!
Murdock has his hands full as it is.
war on gold since '71
Well considering they lost the battle to tax gold, this was the next best thing they could come up with.
It has been for a long time;
They (Central Bankers) meet monthly at the BIS in Basel, Switzerland! The BIS is the man behind the curtain.
Inflation with no inflation protection. So awesome.
This bubble is well overdue for a collapse. We had the blow-off top at 1900+, and we had the bull trap retracement to 1790. This is the final stage of the gold bubble: capitulation. I feel genuinely sorry for goldbugs right now. I have warned them countless times to get out of this bubble, but each time my warnings have been met with dismissal and verbal abuse.
I believe MDB just laughs out loud as he hits submit.
On a side note this chick on my pop up ad that supposedly lives 2.8 miles away from me and is dying to chat with me is starting to wear on me. I have not clicked on her request yet but I must admit I take an extra look around the supermarket to see if she does exist....
Yes...because the 16 trillion debt bubble.....will never burst. It will just grow larger.
I live in a small town and it is essentially a sausage fest around here. The few women that do exist don't compare to the ones that supposedly live 10 minutes away and can only find a man via an anonymous chat room. Simply amazing how that works.
Well, I currently live in Panama, and the latinas that supposedly want to date me on the side adds do not measure up to chicks I randomly meet on the street. Count me lucky.
I predict a bubble in bad trolling...
the Troll curve parallels the GOLD curve
Not if you were in at $350.00.
Yep. Because gold isn't backed by ANYTHING. /sarc off
/sarc on.......and we can always print more gold.
Gold will always be backed by rappers
GartnerLetterBonus...
you been beat to that punch bowl too many times.
With all the top-calling failures and with Dennis flip-flopping off every deck of every boat he gets reeled onto in the vast sea of disinformation, you really don't have much room to joke no matter how you try to hide it.
2012 Apr 10 gold price performance 10 years | Flickr - goldpricemodel
Now's the time to get in gold and get in big. gld calls to buy > 90 days time remaining and stacking bars/coins. If you'd rather be more conservative throw the options out the window and just stack it. Silver's underperforming the 2x exponential performance vs gold it ought to have so... buy if you feel like it.
http://flic.kr/p/bzuBrS - 1.12x calculation & overlays of gold & silver USD spot prices
Who's afraid of the big bad wolf?
It's probably Mikael Charoze of the BIS selling gold!
You can bet your lifes finances that the Central Banks will use everthing they can to keep Gold down...they have to...they cannot allow an alternative currency or anything that looks like one.....that is a fact jack...but at some point they will not be able too....
Central Bankers worst nightmare is going to come true soon, your local bullion dealer won't be able to keep GOLD on his shelves because of demand. Right now the central bankers are melting down their large bars to pour small bars and coins to keep the shelves in stock. Once the shelves are emptied, GOLD will skyrocket and the EASILY PRINTABLE PAPER GLD will either keep up or fall to ZERO where it belongs
Or they'll smack the price of gold back down to 1200, for starters. They can do whatever they want. How does anyone know what they are GOING to do? I don't know. Does anyone here know? (those who do know, aren't talking)
i don't believe gold will fall to the $1,200 range because chinese and others will be all too happy to load up their trucks if/when gold falls to $1,500-$1,520. just my wild guess. personally, i'm looking to load up on more silver right now. just because.
Someone didn't update the text in that document? Didn't they just capitulated on increase import tax on gold after a jewelers' strike a few weeks ago?
Should have known governments lie through their teeth.
Enter to Win. Dinner with Barak.
Gloom's not coming in fast enough here. I'm off to Alex Jones and the USGS.
India rates @ 8%...
In todays world, they look better than most
Not so good when "reported" inflation is running at 9.1% and the actual rate is much higher.
In America, your gold bug is rare, most Sheople are flag waving, offspring sacrificing (to military industrial complex) paper money believing in fembots.
In India, the humble and the average, if they have any capital at all, hold gold, and are not so concerned about paper money scams and inflation of joke 3rd world currencies. They take that for granted (especially the wealthy) that is why they hold gold.
Down over $17.00in like 3 miniutes.....
Fuck Yous Bankers.....
Your day is comming.
Send them card with your gratitude - you can buy more cheaper :)
lol, Look at the rebound. Gold just got angry?
Nice world: algos trading on lies. What can go wrong?
Luckily, I can afford to have 'strong hands' in the PM game & these obvious manipulations make me even more determined to keep in the game until the bullshit unwinds & lands in their cheating faces. In fact, I feel a bit like a gold 'freedom fighter' - you know, the more they knock you down, the stronger you get up.
Perhaps rather contrarily, the more the game becomes obvious, the more bullish it is for me - if gold was 'just a commodity' they'd hardly bother with all the shenanigans would they? Proof positive.
they want irans oil for gold cheaper?
WTF when is lower interest rates meant to decrease the worlds appetite for gold? gold is a haven for money when there is no interest payments! fuck it, %15 interst rates is what destroyed gold at $800 back in the 80's
good point @ zilverreiger.... maybe this is just a ruse so to appear that they are trying to go along with US sanctions. Say one thing, do another!
Gold thrives in negative real interest rates. India's real rates just got even more negative. India's leaders know this. They are running huge deficits and need to print massively. They are running inflation as high as they can without provoking social unrest. And now they are trying to talk down gold. Last few weeks they tried to kill gold with taxes. Now they are trying to use propaganda to mitigate the effects of easing. India has to bail out itself. It is the old Fed playbook post Operation Twist. Why are they even bothering to talk about gold, if they didn't have this issue? The fed is playing this trick constantly. No wonder, because gold was creeping back over 1650 again. Next stop 1680 would happen rather soon and once 1680 is taken out, it will get to 1705 or even 1720 rather quickly. Lots of new spec shorts would be in pain over 1660 already. I believe it is getting rather hard for the shorts to hold 1650 now, I for one would be sweating on a daily basis while looking at the SMA:s. It is more of Pavlovian mass psychology market conditioning: ease + talk down gold + hit gold with outright market ops.
In case you haven't seen it, Rupee gold is exploding, near 90,000 Rupees!!
http://www.bullion-rates.com/gold/INR/Year-5-chart.htm
"Chart of the day"
If you were the Indian central bank and you saw this chart.....
You would have to ask yourself...
"What shall I tell my boss when it goes to 100,000 rupees?!!!"
Maybe just go drown myself in Gagnes....
BTD. Lets see if there's intelligent life out there to see through this blatant market management and take advantage of it.
Update: Apparently there was intelligent life able to see through that BS after-all.
Your words are not even worth a reply if you think gold is in a bubble and fiat money is anything but worthless. Suggest you move on to the cnbc website where your views are appreciated with the other "brilliant ones". We really have no use for you here.
To quote The Black Knight:
"It's just a flesh wound".
http://youtu.be/zKhEw7nD9C4
coincides with the current website attack on king world news. The site is down right now.
Anonymous we need assistance here. Can you guys tear the MAN a new asshole
thanks in advance
Good old Eric must have tried to post something too juicy.
I was just wondering.. why KWN was down...
YEAH! we buy more of that shiny stuff you tards! keep give us discounted prices now: more profit later when gold is 7000$ and silver is 600$!!! BUAAAHHAHH!
Central Banker just forgot silver. It is stable.
Comodities are almost all up: agriculture, oil, etc.,
The boat is leaking! They might keep gold in check but what about other commodities. Regardless of what they do, they are doomed. The terminally sick patient just got LSD...
PS
New world reserve currency will be iPad. Everybody wants it specifically the USA and China.
they forgot to turn on the Mega Silver Algo Bashing Machina™
One more thing: people , you are all wrong!
The flood of fiat money must go somewhere. There are no ifs or maybes about it. Therefore, the Zionist Banking Mafia would rather see gold at $3,000 than gas at $5-7/g or bread at $10. After all, Joe-sixpack is not watching gold prices...
So, be ready to see gold prices go exponentially up very soon!
Subject gold and all raw gems and jewelry to a 25%-50% luxury sales tax. :)
Subject the Dollar to sales tax when they print it, but demand payment in GOLD
That'll fuck em up
More info about the government's efforts to help homeowners at this link:
www.makingGOLDaffordable.fed
That link is FUBAR!
Clearly they are just trying - desperately - to preserve Princess Dennis's reputation, which is now in tatters.
Let's see if we get the exact same thing we got with the Brent Stocks yesterday: Brent artificially taken down, Brent Stocks UP nicely.
Reprise pattern today could be Gold artificially taken donw, Gold Stocks UP nicely.
And once again: We are in for some literally humongous - momentous - sector M&A, because it won't be based on juniors, but on takeouts and mergers-among-equals of XAU, TSX Gold, and HUI components.
It is about to start. Fasten your seatbelts.
The war on gold is ramping up. Two key articles on gold this month came out on King World News
The first: London Trader – Fed’s Global War Against Gold Escalating
The second: Expect Another $17 Trillion of QE & War in Gold
You can read the partial articles with the links above but the originals are unavailable atm (if anyone has alternate links please reply with them). TPTB did not want this information released to the genpop so they have run DOS and other attacks on the servers. The KWN servers are on lockdown (protected) for the time being.
What does this mean? Gold is a spring which is ever being more tightly squeezed by central planning, the sovereigns needs as much as they can for leverage when SHTF so they are dumping paper gold in step with relevant geopol news, smashing down the price then quietly loading up with physical.
so they are PRINTING paper gold, smashing down the price
there, fixed it
I have zero time for gold pumpers but I also accept that sometiems differing opinions needs ot come together to bend the man over.
This is one of them
facts
Gold plummets though a nothing floor for no reason other than:
India
King world site down on attack - happened on april 5 and 11th too
Canada's central bank troll threatens interest rate increase which is simply a gold attack.
They know that folks around the net go to Eric's site for a quick update and here. I would imagine Tyler you are next......
why is gold sachs trying prove us gold sucks all the time. Make it rise you axxxholes
Nice to see ZeroHedge covering this story. Most in the media don't have the cojones, even when it's known and reported that manipulation of all other things related to money (interest rates, bond purchases, and on and on) is right out in the open.
BTFD - but only on things where the underlying value can't be inflated away.
So the Fed and their bullion bank mates are actually acting in a Treasonous manner. Manipulating gold as low as they can, where it can be bought up in greater quanitities by other governments.
Wonder if they will end up executing some people for treason when it is realised they have given Asia all the gold and made the US an economic weakling.
Blatant open corruption in your face by the Fed and bullion banks. They know we know they are corrupt and breaking laws. They know that we know they own the regulators and politicians, so they wont be bought to account and punnished.....unless of course the shit hits the fan propertly and the US economy crash 2 x 1929. Then nothing will save them from the truth commissions that will follow.
They ought to study history to know what is going to happen to them.
Interestingly, I was watching the HUI & XAU closely throughout that little smackdown and neither of them seemed to buy into it. The $BPGDM looks like it has bottomed with gold making a higher low (right shoulder); which is usually a good sign.
http://stockcharts.com/h-sc/ui?s=$BPGDM&p=D&yr=3&mn=0&dy=0&id=p44946649940
If you all would do as I do and go buy physical every time they do this, eventually they would have to stop because there would be no physical left on the shelves and this would cause the price of physical to skyrocket
The war with the central bankers is being fought on the shelves of your nearest bullion dealer
Supply and demand
There, on the shelves
Believe it
Bitchez
ECB margin calls met with forced gold sales...Makes sense? Did anyone notice that the selling algo is now before 10am. It used to show up at 10:30, then at 10am.
So, now they got us back to a floor of $1,636. A lower low. Which means they need to make lower highs = They won't let $1,650 happen again, in a long, long time.
$1650 might be tested sooner than we think.
$1652 two hours after the guy above you posted. Not bad if you are a bacterium.
Great call about not seeing $1650 for a while, wow. Hope you posted it on facebook.
Indeed. It actually opened at $1652 ;O)
Bloomberg joins the party suggesting: "March Gold Sales Drop as Stability Returns, Perth Mint Says"
http://www.businessweek.com/news/2012-04-16/gold-sales-drop-in-march-on-...
Mmmm. I bought from The Perth Mint in March; obviously I didn't buy enough.
Or it could just be that there's a big chunk of April GLD options (put and call) in the 160 neighborhood, and pegging the price at that level for the next few days will make those options more or less worthless. So it's just good financial management if you're an options writer/bullion bank.
THe Fed pathetic. Trying to block the truth by blocking King World News, as though there are not another 10,000 holes in they dyke all over the world.
The Fed will have to get Obama to turn off the internet in the USA.
No Turth allowed in the USA.
So which one is Stalin?
An FukTard is talking down oil. I think Bernake and Obobo are going to get a lesson on capitalism real soon. The sad part is They won't learn just blame something or someone.
"March Gold Sales Drop as Stability Returns, Perth Mint Says"
Not good, means the Perth Mint might be paid for corrupt shills for the Fed. Do you then trust them with Gold and Silver purchases, if they can come out with such blatantly ignorant nonsense?
It just means that buyers are exhausted. The side ways grind is painful. Well, if making money was easy, we would live in an utopia.
30k contracts were sold at market today before the pm fix..that probably had something to do with it. Anyone have idea just who it could have been? Anyone?... nothing to do with the 4000 contracts sold at market last friday..
The problem is that gold futures are now traded electronically instead of on the Comex floor so it almost impossible to know who is doing the selling.
Interestingly, Gold is already back up almost to the level it was before all this bull.
Doesn't look a lot like a case of weakness in the Gold price. Maybe somebody has some outstanding derivative for which today's PM fix price was important?
Kingworld News off-line again.
One of those interviews has really upset someone!
How long before Zerohedge gets taken down???????????
In the long run, this is very bullish for the "Global Riots and Civil Unrest ETF".
Nasdaq symbol: SNAFU
Its 11:25 am eastern time - gold recovered the initial hit.
Interest rate cuts and gold price drops? We are truly living in bizarro world. This is a Darwinian Inflection point for the world population, one that separates those who will survive economically from those who will perish. TPTB are determined to keep gold out of the hands of the masses while they systematically destroy all paper wealth. These same people have been buying gold furtively, believe it. You must own physical gold and silver because these are the only stores of wealth beyond the reach of government. Western governments are insolvent and soon to be bankrupt. They will dilute their currencies, sieze the people's pensions and savings, and destroy their currencies before they finally capitulate to the basic law that says that there is no free lunch and all welfare states end in collapse. Gold and silver have passed unscathe through numerous prior episodes of human arrogance and economic boom and bust. This is nothing new, if you know your history.
Simple: It just shows that the RBI is now buying gold like the PBOC, Bank of Russia, Brazil, etc.
Gold is back. This was the weirdest dip for quite a while.
Repeat after me: There's no manipulation.
Why is it weird if it's a dip but normal if it surges upwards? Like on the 12th April. Here you go, have your cake and eat it too.
and......bounce...come on bitchez.......bounce
I would make three points about Gold in India:
A large part of the economy in India operates outside the goverment and regulatory perview and therefore what the government intends or declares does not have much impact.
There is a tendency to hoard something that is in short supply - in India it specially applies to gold.
There is a deeply ingrained cultural bias to look at gold as real money versus paper money.
Until the 1990's import of gold was highly restricted (almost banned) by the government and still India was the largest importer in the world through inward smuggling.
How ironic. People mine gold from the earth and send it to market, people buy it and bury it in the earth. Does that make gold bugs green minded recyclers?
I am happy with my goldminingstocks and i still love to trade gold with cfd's. No central bankster can change that!