The Last, Desperate Acts
The foolish, self-destructive Bullion Banking Cartel continues to crush and manipulate the price of paper metal. Their arrogance will be their undoing.
First things first. As you all know by now, paper price was crushed last night/earlier today. $23 was taken out in under a minute. This was nothing but regular, Cartel price manipulation where bids are pulled coincident to sell orders being placed. As usual, they got away with it. This time, however, we were watching and two, separate Turdites caught them in the act. Here is a C&P of an email I received last evening at 10:50 EDT, 30 minutes after the "event".
Turd,
I was watching gold sell off tonight, wondering how low it would go. Then I saw the spike down. On my depth of market order entry application (NinjaTrader), there was absolutely no bids or ask in the system. So I placed a limit order quickly at 1567. There was a long pause, but then my screens came back to life and suddenly the price slipped all the way down to 1556. I was pissed because I thought I was filled at 1567, but my long of 6 /GC contracts was filled at the absolute bottom 1556.4.
This almost conclusively proves to me that liquidity (bids) was purposely removed. How did I get filled at the absolute bottom?
Regardless to the inner workings of the access market, somebody dumped 1750 contracts in a market order, all at once. Same bullshit as always but this time I am getting even with these bastards.
I can prove that my order was filled at 1556.4 if you are interested.
Corroborating this was a second email I received a couple of hours later:
Hello Turd, I too was trading tonight when the bomb was dropped. I usually find the late evening hours from 8pm ET to around 11pm not too bad for trading,.....the volume usually is light and trading slow.........but tonight felt different.......I watch the Euro and the Yen and the Yen was catching some bids and moving on up........I am a one contract trader and just trade for a few dollars either way........I stopped myself out of a long at 1580.20 in the Aug gold and walked away from the computer.....when I came back a few minutes later I could not believe what I saw.......the volume for those 2 minutes if I remember was around 1800 contracts..........it usually won't trade that amount in 6 hours at night........they were gunning for the lows on the chart around 1579 and took them out with a vengeance..........this is not hedge funds trading in the middle of the night nor the small speculator......this was a coordinated massacre and the collateral damage was any long specs whose stops slipped by 5 or 10 dollars at least...........after the initial rebound rally, the market was so thin and quiet for the next 35 or 45 minutes.....most were shellshocked, if not broke, and there were no players left........I am done ranting..........and I think I will stick to trading the ES futures from here out..........and to those knuckleheads who say there is no manipulation in the metals markets, I say...........keep their heads in the sand......that way we won't hear as well what they are saying.
In the end, it's as if the entire bid/ask system was momentarily shut off. Into that void, a massive order was dumped for maximum effect and damage. A momentary, deliberate "flash crash" designed to game and flush any unsuspecting buy stops. It's deliberate, overt manipulation but it is sadly, for now, the way the game is played.
That game is changing but the blind arrogance of The Cartels keeps them from seeing it. Once again today, massive physical demand appeared in London. The Cartels selfishly crush paper price in order to game and manipulate the speculative managed money. They squeezed the shorts a week ago. They crushed the longs yesterday. The Masters of Disaster think they are playing this game and avoiding long-term consequences. As stated above, their arrogance will be their undoing.
Earlier this week, I wrote about the coming shift in the global trade settlement structure. If you haven't read this yet, please do so now ( http://www.tfmetalsreport.com/blog/3866/dot-connecting). The metal that is flowing out of London toward points East will be the basis of this new system. All metal used to back this new system is effectively removed from the global stage. As this transpires, physical metal will become increasingly scarce. Without physical metal to back the highly leveraged paper, the entire LBMA will collapse and, with it, The Comex. The LBMA and Comex collapsing will directly effect the solvency of the Bullion Banks and a new global paradigm will emerge.
Again, your only personal financial protection from this historic chain of events is the purchase and acquisition of physical precious metal, preferably gold but silver, too. (Though likely included within the new trade settlement structure, I expect silver to soar due to its own set of fundamentals.)
Please, I urge you to immediately consider whether or not you own enough physical metal.
Think.
Look around.
Trust your instincts.
Act.
TF
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Comments
Not my point
Not my point Turd.
Cipher
One from the Irish
whatever about our chances of winning the pic is priceless!
Irish footie fans: 'Angela Merkel thinks we're at work'
http://www.bbc.co.uk/news/uk-northern-ireland-18371142
http://news.bbcimg.co.uk/media/images/60781000/jpg/_60781453_photo.jpg
This is too much
I'll just let the data speak for itself.
5/31 OI 416,909
6/1 OI (after day of $58 rise) 429,088
6/2 OI (never allowed to follow-through, gold down 8.20) 423,433
6/3 OI (price back up $3) 423,941
6/4 OI (silver breakout and gold surges $17) 427,052
6/5 OI (gold smashed back $46) 416,785
NET change from 5/31 to 6/5 = 124 contracts
How much
You hear analyst suggest 10-20% net worth in PMs. Anyone in the know, knows that is way to little.
OK,
then what is your point? Not trying to be critical but I sense some puritanical reasoning again here. This is POLITICS, after all. Rand scratches Romney's back and shows he can play ball. It is what it is.
It still amazes me sometimes
It still amazes me sometimes how I can type and talk and not be heard.
What I said was this: Decide for yourself at what multiple the price of gold will reset higher. If you think 2X, then you should have half your assets in gold. If you think 5X, then you need 20%. If you think 10X, then you need 10%.
AGAIN, THIS IS NOT INVESTMENT ADVICE. I AM SIMPLY OFFERING A REASONABLE GUIDELINE.
I, personally, don't care if
I, personally, don't care if he got "permission" or not. He showed that he doesn't have a backbone, and would rather play their games than be a man.
America is dead. Now that Paul is out, the last thread binding me to this country has been severed. I am now committed to moving abroad. The only reason I am not leaving right now is because I want to make more money first. Once I feel I have enough, I'll be out. As it is, I am sending a trusted family member to work on starting up a household to be ready for me as soon as I am ready to go.
I will maintain a home in the US in case of a turnaround, or if I need to go back to work, but I won't be living here any more. Just existing until I can return home abroad.
I am so disgusted right now I can hardly see straight. Luckily I had decided on this well beforehand.
So you think
Turd, do really think they have some awesome plan to get in office and change the system from the inside out? Do the ends justify the means? Can he support Romney and liberty in the same breath. Give me a freaking break. Your right its politics to a tee. I will call them like I see them until I see otherwise. Do you think I am not disappointed with him. I did not think I could get disappointed anymore with all the BS happening in this country but I am. Its just really sad.
Cipher
I just read the KWN stuff
Almost sounds like the "London Trader" is Jim Willie's source, though I'm quite certain it's not the same guy. I guess we'd have to corner Eric King to find out.
Regardless, I've been on this train for weeks now and I'm confident in my conclusions.
Telegraph headline
Debt crisis: Barack Obama demands action as leaders ponder Spanish bank rescue
US President Barack Obama has demanded that European leaders act “right now” as ministers in Brussels deliberate over whether to impose a bail-out on Spanish banks.
In an impatient and forceful message, Mr Obama said there was “a path out of the crisis” if only leaders would take the “decisive actions” needed.
In Madrid, Berlin and Brussels officials denied that a rescue plan for Spanish banks was ready to launch this weekend, but Mr Obama blew their cover. “The focus must be on strengthening the banks, like we did in 2008,” he said. “EU leaders are in discussions about that and they are going in the right direction.”
http://www.telegraph.co.uk/finance/financialcrisis/9320507/Debt-crisis-B...
WTF? So demanding it is going to make it happen. What was that you said about blind arrogance Turd?
@ Turd
Please, I urge you to immediately consider whether or not you own enough physical metal.
Hey Turd-
I fight with this one all the time do I have enough.... when i add more to the stack i get screamed at by the wife ... since she hasn't woken up yet to this massive disaster that's going to come.
any chances you could do a anonymous/blind survey from all the fellow turdites
On oz Ag Stacked and oz AU Stacked and estimated fiat coverage expecting to cover?
Just a random thought - and I guess no one truly knows the answer during a currency collapse.
well, this time
... gold is approaching 1600 very slowly :)
and it looks to me there is no way we gonna see another 1525 retest.
If you aren't completely over TA yet...
Here is BrotherJohnF's latest:
I have no idea if many here follow BJF, but I find him to be a nice compliment to Turd and others.
CoT EXACTLY as expected, given the huge rally last week
numbers to follow
gimme a few minutes
All I know is...
...the frequency and force with which the Bullion Banks have attacked the metals has increased in recent months.
And yet, we haven't broken out of much of a range. That tells me that the effect of their manipulations is waning, albeit slowly. Reminds me a little of the whole QE thing, as in it takes more and more to create the same effects.
It's really only a matter of time. It's that simple.
Silver to Gold Ratio is 160 to 1
I am 100% all in in physical metal, at the ratio of 160 to 1, silver to gold. Either I get laughed at as the world's greatest fool, or I am surviving in style with the family on the other side of the collapse, whenever it comes, if ever.
Reminds me of the after action review we had when I was an active duty helicopter pilot in the US Army. My unit, a Cavalry Troop, had just been SLAUGHTERED in a war game exercise, by the opposing forces, who were all very good, by the way. Our unit's communications were terrible, command decisions were terrible, execution of the mission was atrocious, ad nauseum.
I will never forget this as long as I live.
About thirty of us, Army aviators, having just flown for five straight days, ending the last mission at about 1:00 p.m., were all gathered on a dry, wind swept lake bed. One of the observers, a Captain, was standing there, looking all smug. Us Warrant Officers, all of us pilots, were all dusty, tired, thirsty, hot, and exhausted. We were all hoping for some sort of faint praise, for how hard we worked, what sacrifices we had made, the progress we had made from the first day, etc.
Instead, we got nothing but lecture on how bad we all were. Idiots, incompetents, morons, words like that flew around. We were all stunned to hear this Captain lambast us all like that. We were too tired to fight back and argue, but the final insult was at the end.
The Captain asked us if we knew the difference between a chicken and a pig, in the context of a breakfast meal. We all giggled [well, me, mostly, because I had heard enough from the blowhard Captain anyhow]. The Captain quickly singled me out, then asked me, in a stern voice: "WELL, DO YOU!?"
So, I stood up, somewhat insolent, and said "Yes sir, I know the difference. One provides an egg and the other provides bacon or ham. They are both nutritious, and I love bacon." My friends chuckled.
The Captain yelled at the top of his lungs, at me: "NO. That's the problem, you ALL are a bunch of idiots!"
"The chicken makes a contribution, but the pig makes a commitment!" "You guys did not commit and you lost. Next time, MAKE A FUC--- COMMITMENT!!"
And with that, he walked over to his Hummer, and sped off in a cloud of dust.
We all sort of sat there, silent. I don't know what anyone else was thinking, but that lecture and lesson resonated with me hard.
I learned that to succeed, one must make a commitment. Period. Nothing half-ass. Go for it and succeed or fail, but do NOT half-ass it.
Hence, my 100% investment into PM's. I'm either making it or I will fail spectacularly. Oh well. I am committed. So, no paper miners, no paper stocks, no paper fiat, none of the bankster, fractionalized paper schemes for me. I am all in right now, sink or swim, succeed or fail.
The mindset I have is very liberating, for me at least.
Good luck everyone!
The Captain
Two Points to add to my first post:
1.) The market seems not to want to be without their metals over the weekend. This would seem to prove out the buying of metals this time based on fear. ie the FED smackin did not drive out the fear.
2.) Not pointed out anywhere to my knowledge.
I WILL COIN IT.
"THE LEARNING CURVE SEEMS TO BE SHORTENING."
Investors are instead of running away when the smack down occurs......
They are learning to hold, or buy back after these smack down's. Willie's buyers assure a floor.
The HUI looks like it will hold above the 200 weekly average.......reasons....same as above.(most investors still play paper)
Silver looks to hold above the $28.50
As the clock ticks, so will the prices progress. Remains to be seen.
I believe a pullback in HUI to test the 200 weekly.....rise in the miners will resume shortly....they will pull the metals higher.
People are beginning to feel something is about to happen.
I like that Rand is playing the game
If I have a major criticism of RP, it is that he has proven rather inept at playing the political game- so he has great ideas, excellent critiques, and an ideologically coherent political philosophy... and yet none of these are reflected in any policy passed at a meaningful national level. I like that Rand seems to be more politically savvy, it gives me hope that perhaps he can play the game in a way that his father was constitutionally (no pun intended) unable to do, and hence we might actually see libertarian, small-government philosophy play a part in formulating real policy. In my ideal world, Rand is Ron Paul 2.0 - a guy who knows how to craft his message in a way that will play with the public and not allow all those "gotcha" moments which allowed pops ideas to be marginalized by the media and the public.
@mosley
Sir,
Your decision to stay in this country, in the final hour, hinged on a politician?
Dear God.
@ California Lawyer
I don't think anybody will laugh at you!
I am 20% invested in cash. 80% in physical PM
Gold to Silver ratio: around 1/3000 in weight.
Endorsing
Pining you are an incredible asset here and I respect you very much. The problem I have with this is Party over Principle. When you "endorse" somebody, you are endorsing more than just them as a human. You are endorsing their policies, their crazy ideas about wars (which, unfortunately, and quite telling, Rand supports sanctions against innocent Iranians), the Federal Reserve, bail-outs, TSA, ect.
As a principled non-interventionist, non-aggression principled libertarian I can’t and could never support someone who supports big war and government intervention. I could look past a lot if a candidate was anti-war, anti-intervention, and adhered to the non-aggression principle. I dont see Rand sucking in many of Rons supporters on this.
Cipher
Survey
any chances you could do a anonymous/blind survey from all the fellow turdites
On oz Ag Stacked and oz AU Stacked and estimated fiat coverage expecting to cover?
I'd sooner tell you my age. I turned 64 yesterday. Honest.
Nothing is ever anonymous on the internet. Carved in stone and stored in some gubmit netherworld forever.
Things Are NOT Always What They Seem
For those who still have normalcy bias, it is time to be a critical thinker. Revered institutions fail, as they may from time to time, because they are made up of humans. The FED and the rest of the elites are no different.
Here is one example of why normalcy bias must be overcome, and one's critical thinking skills be sharpened to be able to adapt as the Keynesian experiment comes to its end:
http://onlineathens.com/breaking-news/2012-06-08/uga-professor-charged-prostitution
[from Drudge, by the way].
Rand
Rand Paul said all along that he would vote for whomever was nominated, so he is being true to his word. Think of Rands move as a hedge. It IS better to have him as vp then a senator. To echo a wise man...seriously, you don't think he called his dad first, or more likely that this is one of the many plays they can make at this stage of the game? C'mon man - this is Ron's third run, and how many years in congress...you think he doesn't have a little political savvy by now?
There has been way to much whining and crying from us Paul folks after the last few emails. We are the guerrillas in this campaign, and as such we have to continue to use the requisite tactics. Standing up and taking on the establishment toe to toe is expensive, wasteful, asinine. Our entire strategy is about outthinking the opponents, and now because something unexpected happens we fall all to s*, throw in the towel, point fingers? wtf? Desperate times call for desperate measures, I mean we are talking about the future of our very Republic after all.
Let's simply admit that we don't have all the info. needed to make sense of something near and dear to our heart, and keep doing what we believe to be right and let the chips fall where they may. Be it pm's, vp's, prepping.
Big L Not a politician but a
Big L
Not a politician but a real, honest, well educated MAN.
He is the only one who might have possibly turned this country around. His departure from the race is the last of many straws.
Thanks for acting like a prick, though. There aren't enough pricks on the internet.
Think about this for a few minutes
This week's CoT gives you some clues as to what it will be like when The Cartels are forced out of the management and suppression of paper price.
Remember that, for the reporting period, gold rose about $66 and silver rose just 24c.
On this week's CoT we see:
GOLD
Total Gold Cartel net short position rose by an astonishing 25,413 contracts or 19.5%! Why was it forced to rise so violently?...The total net long position of the large and small specs rose by the same amount. Speculators buy the unbacked/leveraged paper supplied by the Bullion Banks. The question is: When was the edict issued that declared/forced the bullion banks to be "market makers" in metal. The NYSE has "specialists" whose job it is to make a market in individual equities. This should not be needed in a commodity pit. Simple supply/demand fundamentals should determine price. Instead, The Cartel intercedes to control price. Why? Who benefits? Once the gold is gone, if/when the banks are dead, how will price react?
Anyway, with total OI now back to the level it was on 5/31 (the day before the $58 rise), it's safe to assume that this report is inconsequential. After yesterday, the specs have sold, the banks have covered and the CoT is back to where it was 10 days ago.
SILVER
Not as dramatic as gold simply because the price move was negligible. However, the same dynamic is seen. The total EE net short position increased by 2,191 contracts to a ratio of 1.37:1.
@cipher
Remember that the game has changed. And the only way to infiltrate must be through traditional means. We have to face the fact that not enough humans woke up in time to support Ron Paul....or at least, the criminal shenanigans were not thrown into the spotlight in time. Therefore, since humans are still asleep when it comes to the majority, this might be the only way. Think about it. Ron Paul is 77. This is his only chance. And Rand and Ron are a powerhouse team for Liberty. So, now is the time. Piggybacking on Romney is fine as long as the goal is still the same. And it most likely is. In my opinion, there is no way that Rand caved in his beliefs. They are men of principle. Of honor. They would rather bail than give in to the "other" side's thinking. So, I just don't think that is the case. That may be naive, but I truly believe it is smart, critical thinking. I think there is a plan here, which can't be obvious, for obvious reasons, and I think it will ultimately play out to the Paul's way of thinking. Road to Roota can confirm some of this. And the fact that the Romneys and the Pauls are close can as well. Think about it....if the media was on to this, they would have a field day over it and that would be it. They probably waited long enough to do this as its just short enough to the convention that "they" won't catch on and just long enough to build the rappore amongst the true supporters, who right now, are doubting this. They will come around when the see it for what it is.
Kcap
TPTB are peeling away at Our Rights and Way of Life...
@California Lawyer
While I wouldn't fight someone who wanted to be all in PM, I will say your 160-1 silver to gold ratio is super aggressive.
Part of buying PMs is being conservative about the system. Gold is the more conservative of the two metals. It is also a guaranteed central bank wealth storage unit.
Buy some more gold man!
100% in PMs
I am 100% in PMs, mostly Gold. Also doing some gambling for fun with paper silver on the FOREX.