Antidote For Manipulation

Though, admittedly, it's anecdotal.

So, let's see...The Cartel uses the Chinese New Year holiday to jam price through the 200-day moving average. This trips a bunch of sell-stops and here we are. The gold chart now looks lousy and it is below each and every relevant moving average. Once again, if the LegHounds are going to go to work on ya, you'd better just let them finish their business. This too shall pass, though, and the opportunity to trade some paper may even present itself very soon.

So, what's this anecdotal antidote, you ask? Well, here's just a sample:

"Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty."

"Hi Turd.  Just got back to my apartment in Bangkok.  Went to china town, its Chinese New Year today.  WOW. Talk about quite the time.  I am here for a month exploring the city and trying to drum up some international business contacts.  Anyways on to why I emailed you. The gold buying was freaking NUTS!!! Stores were packed.  I walk by a huge horde of people and a big announcement, I weave through the line to see what the commotion is.  It is Disney announcing a new line of gold coins and jewelry they are launching, people were going berserk.  I thought I would mail you some pics.  Thought the Turdites might enjoy."

So, take it all for what it's worth. However, it certainly seems that if The Monkeys insist on jamming price lower in NY, there's an unlimited supply of physical buyers around the rest of the globe, from Central Banks to ordinary citizens. The question is: On whose side do you want to be on, the paper sellers or the physical buyers?

Lastly, I was honored to be on with Dr. Janda again yesterday. Here's a link if interested in listening: http://www.davejanda.com/audio/TurdFerguson021013.mp3

Have a great day.

TF

221 Comments

Dr. Fix's picture

First.

Who would have thunk it?

(Sorry, I didn't intend a double post.frown)

Dr. Fix's picture

Sometimes you just get lucky.

smiley

BIGNASTY's picture

Demand is high everywhere

Demand is high everywhere but the price keeps dropping, BTFD looks like my tax refund just got spoken for. Kind of crazy when the soviets are leading the way to structural fiscal /market integrity. Thanks Turd for more great info.

treefrog's picture

furth!

happy monday!  is that a bounce off of 30.82/1645-6?  too early to tell.  here's hoping, anyway.

Bollocks's picture

huh?

It's a thread-frenzy day!

ag1969's picture

Wow, Turd Busy today.

And he has not even gotten to the Petrus Romanus post yet!

Turd Ferguson's picture

And I doubt I will

MODERATOR

Maybe sometime soon but not today.

Anyone wishing to read upon their own, this wiki page pretty well sums it up:

http://en.wikipedia.org/wiki/Prophecy_of_the_Popes

acer rubrum's picture

6th

If fix is first with double post, and Turd's post doesn't count, them I would be the 6th... like the soon to be released wood bison http://silvergoldbull.com/1oz-2013-canadian-wood-bison-silver-coin

Kcap's picture

Come on now Turd...

It is indeed true that...

"everyone who wants to buy has already bought".....

BUT, what they are not telling you is that all the people who "don't know they want to buy have yet to buy"....

The smart people have already bought.  The sheep will follow...they have to, they always do.  CB's, SWF's, BB's....they are loading to the gills despite paper machinations.

The whole thing just warrants a big 'ol LOL!

Kcap

Turd Ferguson's picture

I hope that everyone in the

MODERATOR

I hope that everyone in the U.S. NE is ready for another massive snowstorm.

http://ready.arl.noaa.gov/ready2-bin/javaanim.pl?id=GFS&mdl=grads/gfs&file=panel2&nplts=33&width=800&height=700

Groaner's picture

The Fed is Yellen.. Not so loud please,, that

low prices allow unemployment focus..

so we get a pop.. on what?

I wear bifocul contacts and have a very hi res 17" Macbook pro so my vision looking straight at the screen stinks, plus my typing and spelling is even worse.. so there you have it..on my constant goofs.

The Green Manalishi's picture

Interesting status on Facebook from Mike Maloney

 
Facebook friends, we have a major announcement coming up. Hint, hint => The Federal Reserve won't like it :-)

Might be nothin'

Bollocks's picture

"we have a major announcement coming up"

The Green Manalishi: " Might be nothin' "

LOL. You eternal optimist.

 

ag1969's picture

That would be me Turd

Not only did we get over two feet of snow with another one coming, but it is snowing right now.

The Green Manalishi's picture

Bollocks

After listening to KWN for a few years you get like that. wink

Turd Ferguson's picture

Sylvia failed breakout

MODERATOR

And now could easily fall to 1660 or even 1600 before consolidating and trying again.

rtabit's picture

SI

SI Daily: 30.55 area at the lowest floating parallel (same as old green trend line) should offer strong support, if that fails lower parallel line is currently about 30.00 area, never been support before but I'd really like to see a nice bounce off that to further validate fork.  I currently have no SI positions.

http://www.screencast.com/users/RandyTabit/folders/Silver/media/c9bfee40-7d4e-47b6-b605-aec9a338f499

SI 240: Looks like currently 30.74 area may get support, but chart best for used for resistance, currently around 31.87 area, to either take off profits or open possible short position.

http://www.screencast.com/users/RandyTabit/folders/Silver/media/632990c1-8802-4528-bda9-262b3b9de126

Turd Ferguson's picture

fuck that

MODERATOR

...but I'm sure it's beautiful in the fall, when the leaves are changing...wink

treefrog's picture

blizzard!

currently 74 and cloudy at treefrog manor, behind the spanish moss curtain.

to quote sleazy willy, "ah feel yore pine."  (not).

Turd Ferguson's picture

Thanks, rtab

MODERATOR

On your top chart, I think we're going to hit that bottom fork blue line.

Response to: SI
Strongsidejedi's picture

Chinese new year

The party is still on in China.

Last year, the same thing happened...remember?

The markets in PM went flat line for a week... then pow.

Texas Sandman's picture

Brutal Paper Trading Today

Almost completely trendless in the NY session.  One sort of ok bearish trend to short, but aside from that, chop-chop-chop.

I traded my little heart out to eke out a gain of a mighty $75 (loss of $25 after commissions).

Very hard to make a buck in a market like this.

A.

Dr. Fix's picture

Thanks for the weather report,

I would not have seen that one coming. It looks like a trend. Might be a lot of storms.

I just listened to the Jim Willie podcast, there is some new news in there, particularly as it relates to all of that “non-monetary gold” that the US exported recently.

Seems like things are moving quickly.

Thanks for all you do  Turd.

Back to work for me.wink

tobydaniel's picture

Nah, platinum is not going back to the 1600's

You can sell the platinum phyzz for around 1800 right now or more online. The 1oz platinum maple leaf is actually going for 3000 dollars in England. Eff the paper price. Who cares!!!! 

Groaner's picture

Fed says focus still on job creation...

Maybe they should take the focus OFF job creation and then we might have some jobs.

With their interest rate manipulations, bubbles and busts have caused job destruction so thats what they need to work on.. 
Let someone else set interest rates...

ClinkinKY's picture

Newest winter storm:)

ca9.PNG

Nephi's picture

Fox news announcing Obama will announce another round of fed $

Sorry can't find the link, but it was just announced that Obama in tomorrow's State of Union Address will ask for more federal spending on infrastructure and education blah blah blah.. Could this also be a reason for today's blatant manipulation?

Bollocks's picture

If you're in the UK, grab some popcorn...

BBC1 8.30pm tonight:
Panorama -  Inside Barclays: Banking on Bonuses

ancientmoney's picture

Financial repression rules . . .

The markets are all geared for financial repression.  ZIRP means fixed investments like CDs, MM, etc. are negative after taxes and inflation (by a long shot after real inflation).

Nobody will be allowed to get rich in paper silver and gold.  Even if it moonshots from these levels while holding paper representations of the PMs, the dollar depreciation will mean the fiat gains will quickly be meaningless.

There are almost no ways to beat inflation in paper investments without huge risk (and tons of pure luck) in the house-owned casinos called stock and bond markets.

The only way to beat the FR policy is to keep as little as possible in fiat to pay the bills; sell any paper asset available, and use proceeds to buy food, water, protection, and physical PMs. 

Groaner's picture

ARe your kids bored playing old Extremely Violent video games?

then run them down to Drones are Us.

Yes, we have the latest real flying Drones that carry safe, M80 fire crackers which they can target their kids at school who bully them all the time.. 

They will learn first hand from experts who use them to murder people who they think are enemies, with out do process of course.

Yes Drones are Us..10% off sale going on now!  Fly American!

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