Surviving the Mid-Week

If I had told you on Sunday that, by noon Wednesday, gold would still be $1390 and silver $22, you'd likely never would have believed it. But here we are...

I was worried, too. Having China "closed" through today had me and just about everyone else quite nervous over the weekend, especially considering the way things traded on Friday. However, after some Monday weakness, prices have held in quite well.

Now don't go getting too excited just yet. Just because we haven't fallen down the elevator shaft again doesn't mean that we're out of the woods. In gold, price needs to put a 14** handle on things again and silver clearly needs to get back above $22 before we can breathe a little easier. Hold tight with fingers crossed.

In the end, though, unless you think that decades of market control by The Bullion Banks has ended, then the latest Commitment of Traders and Bank Participation Reports tell you everything you need to know about the future direction of price, regardless of what all the chart-readers and media shills think. As discussed here quite a bit recently (http://www.tfmetalsreport.com/blog/4768/getting-ready & http://www.tfmetalsreport.com/blog/4750/speechless-turd), the levels of NET LONG BULLISHNESS now attained by The Bullion Banks will soon lead to higher prices...MUCH higher prices...of that I am 100% certain.

Other expert discussion is provided below. First, this excerpt from Ted Butler's weekly review as provided by Jesse: http://jessescrossroadscafe.blogspot.com/2013/06/cftc-gold-and-silver-bank-participation.html. If you want to read the entire thing, I strongly suggest you subscribe at http://www.butlerresearch.com

"Since the BPR of February 5, the US bank category position (in effect, almost exclusively JPMorgan) has swung by a net 100,000 contracts, from net short 70,000 contracts to net long 30,000 contracts (all rounded). There has never been a move of such magnitude before. Over that same time, the total net commercial short position (in the COT) declined by 113,000 contracts, meaning that JPMorgan accounted for almost 90% of the entire commercial decline. It is not possible for that extreme degree of concentration and market share not to be manipulation, pure and simple.
And here’s the manipulative icing on the cake – JPMorgan was able to flip a net short position in COMEX gold of 50,000 contracts in February to a net long position of 50,000 contracts on a gold price decline of as much as $350. I would submit that the singular purchase of 10 million ounces of gold (worth the equivalent of $15 billion) within four months on a greater than 20% price decline could only be accomplished if the price was manipulated lower by the purchaser. No other explanation would be possible...
JPMorgan’s emergence as the big COMEX gold long changes the dynamic of the gold market. In addition to conclusively proving that this is the most crooked and evil financial institution ever to exist, it confirms the extremely bullish set up for the gold price...
Of course, if JPMorgan can continue to accumulate inventory on lower prices, we will get lower prices temporarily. But having JPMorgan confirmed as being on the long side of gold is a game changer. That’s why I continue to throw money out the window on silver call options."

Follow that up with this explanation of the reports from Gene Arensberg:

 

A practical example of this was evident today. Though traditional analysis claimed that gold surged due to Greek fears (http://www.zerohedge.com/news/2013-06-12/gold-surges), this was hardly the case. At 5:47 am EDT today, our pal Andrew posted this prognostication for Turd's Army members:

"Gold fixed at 1377.25 vs.pm fix of 1374.25, fairly quiet with China absent but noting more Indian & South eastern Asian ‘at market’ demand. The PM fix is where CB and Sovereigns seek to allocate as volume is far larger. I would be surprised if the sovereign size 1380 bids are allowed to fill again for a second PM fix this afternoon. Yesterday were the 1st sub 1380 PM fix since the 28th May and forced large BB buying into London clearing."

Lo and behold, what did we see? Just as Andy had predicted, a rally began precisely at 9:35 am EDT and led to a London PM fix safely above the $1380 level.

(As a reminder, anyone seeking to receive this type of vital and important market information on a daily basis need only to subscribe by clicking here: http://www.coghlancapital.com/daytrades-application?ak=turd_army)

Therefore, taking into consideration macro issues such as ongoing Chinese, Indian and other sovereign gold demand as well as firm-specific concerns such as JPM's dwindling vault supply and the setup persists for higher prices, not lower. So, keep the faith and continue to convert fiat into physical. The Spec Sheep, which continue to blindly sell paper metal as they chase dots across their screens, are destined to soon experience a very expensive lesson in the economics of supply and demand.

TF
 

164 Comments

dumpster's picture

one but what is their to not

"one" but what is their to not believe

gold slut's picture

1ST?

Furst?? Swoon..

Dagnammit! Second. Partial swoon.

sengfarmer's picture

top ten!!

Good timing?

Turd Ferguson's picture

And this is interesting...

MODERATOR

From Bill Holter at Miles Franklin:

  As I mentioned in my earlier piece, there are now many "signs" that we are going terminal both globally and systemically.  Economies are slowing and or contracting and yes this includes China.  You can clearly see that the numbers here in the U.S. are thoroughly cooked.  If you look at "private" numbers such as "miles driven" or even something as simple as carloads of garbage hauled by the freight system it is clear that we are not growing.  If you look at  the pricing for sea shipments and volumes you will see that international trade is contracting.  You can also look at unemployment numbers  housing and food assistance numbers here in the U.S and abroad and you will get confirmation of the above, treading water at best and likely systemic contraction.
  Looking at the central banks of the West, they are all monetizing...because they have to.  They have to because there are few other buyers for sovereign debt that must be sold to rollover past debt, fund current "programs" and pay interest.  One might say "but the stock market is up so everything must be OK".  Well, margin debt has never been higher than it is now, insiders are selling at a furious pace and short interest is down substantially.  We will see how this works out but I highly doubt that "optimally" will be the description.
  Currency markets are experiencing unprecedented volatility.  How can trade work between Japan and the U.S. if their currencies are trading up or down 2% or even 3% in one trading day?  In the old days, 3% was a huge move in a months time, now it can happen on an opening trade!  And yes, as mentioned in my earlier piece, interest rates are beginning to rise.  It is only a matter of time in my opinion before one nation or even an entire region has their back up against the interest rate wall assuming that hedge funds or even investment banks themselves don't get blown up sooner by the derivative time bombs they are all sitting on.
  Another "sign" (or should I say sign's' plural) that sticks out in my mind but certainly not by the mainstream press are the scandals.  We've seen scandal after scandal in Europe, a scandal with the IMF's Christine LaGarde and of course the recent 24/7 storm here in the U.S..  Coincidence that all of this dirty laundry is coming out in concentrated fashion?  Is there "infighting" amongst the elites because they are losing control?  (Before I forget, there has been a rash of resignations of banking CEO's and high officials in the Middle East over the last 2-3 months, what's up with this?)
  I'd like to add one more sign to the mix and also break it down a bit for you.  Zerohedge posted this last night  http://www.zerohedge.com/news/2013-06-11/jpm-vault-gold-drops-284-overnight-slides-fresh-record-low-withdrawals-accelerate regarding the run on JP Morgan's Gold vault.  They saw 28.4% of their Gold get up and leave overnight.  Well, not exactly correct.  Yes the withdrawal was 28.4% of the total but the withdrawal was entirely from their CUSTOMER side of the vault!  The customer side dropped by 217,444 ounce...only leaving 136,380 ounces of Gold left.  This represents OVER 61% of JP Morgan's customer Gold leaving in one day!  By the way there was another 136 notices issued today which represents another 13,600 ounces or another 10% of the remaining which should leave tomorrow!  Is this a run on the bank (vault) or what?
  But wait, if you thought it couldn't get any better...it does.   If you look at the what has so far been issued this month it amounts to 4,946 contracts, this is 494,600 ounces yet JP Morgan claims to have only 413,526 ounces in their dealer account.  This means they have a negative 81,074 ounces of Gold for delivery?  I bring this up because so far this year I don't believe that they have added ANY Gold to their dealer account.  Harvey Organ went back and checked each and every day this year and sees none, zero, not one single ounce added to the dealer side.  What's up with this?  Is this a default?  They also "owe" over 81,000 ounces that was to be delivered by May 31st from the customer side due to a 1,000 contract issuance, today is June 12th...am I missing something here?  If I were owed a delivery by May 31st and still had not received it as of today, I would be screaming default.  "Where is my Gold?".  Are these not contractual obligations or are they just "kinda sorta's"?
  I bring this last bit up as just another "sign" that may or may not go hand in hand with the rest.  However, if you are a fan of connecting the dots, does this not look like people want their Gold and they want it now?  What if you were one of the owners of part of this remaining 136,000 ounces?  Would you maybe want to get your hands on it now...while they say that it's still there?  Regards,  Bill H.
NotWorthyDale's picture

Third!!

1st attempt...Wish Ag buys were as well timed.

erewenguy's picture

6th wut??????

Liking the action in gold this morning. Slow and steady so no one gets alarmed.

Howard Roark's picture

Whoooooaaaaa!!! Speed writing

Turd, 

Just like the metals these days! (I only hope!)

Up up and Away!

HR

Prize Fighter's picture

Some thoughts on gaps (reposted)

I am a student of all and master of none so I apologize for my random thoughts but I am trying as best I can to relay my reasoning and thought process on this in the hopes some of our more learned can correct or direct me.  I am more or less thinking out loud so I do appreciate your indulgence.

Much in the same way the basis for what constitutes our economic malaise are immutable natural laws, my basis for chart reading and interpretation is physics.  Basically, you can't fool Mother Nature.  That truism is inherently understood by most everyone on a basic level without having to quote the laws of Newton or thermodynamics. 

As Ayn Rand said, "We can ignore reality, but we cannot ignore the consequences of ignoring reality"  Knowing these laws are currently being repealed via fraud and Draconian usurpation is simultaneously our evidence and our challenge. 

I state this because my assertion that chart gaps must fill is based on my rudimentary understanding of physics and I want to try and put a finer point on it rather that just saying "trust me, it's a gut feeling." 

The structure of a price chart and a building blueprint are only similar in that they are lines on a 2 dimensional plane and that's about it.  How do I get from one to the other?  Does the associative property have relevance here?  Who cares if a gap exists on paper, it's not 3 dimensions and gravity plays no role, right?  That is the question I ask myself and the basis of my hypothesis.

What separates the imagination of a child drawing a fantasy home and a civil engineer designing a structure is one will actually be built and certain principles must be followed as it cannot exist solely on paper, otherwise pass the crayons and lets log in to Etrade.

Velocity, acceleration and the jerk are the 1st, 2nd and 3rd derivatives of position with respect to time.  The "jerk" is when a force is suddenly applied to an object and it can be useful as well as destructive, especially to human bodies or economic models. 

When you travel in a car, you must follow a linear path and you must travel to there from here via velocity and acceleration.  If there is a jerk involved, you did something wrong and you'll know it.  Jerks are only welcomed on roller coasters and extreme sports IF they are managed and planned, not trips to the grocery store or economic models.

It is my contention that the trend lines we track on charts are representative of velocity and acceleration.  Velocity being a constant and acceleration a change in that trend while the jerk is what causes our infamous gap, no pun intended.  It's science! :)  If a jerk in a car causes your car to jerk there is a consequence.  What is the consequence of a chart gap jerk?

These derivatives of position are with respect to time.  If a gap in the physical world is equal to collapse how is a chart able to repeal the law of gravity, if even only temporarily?  Energy is neither created nor consumed but merely transferred.  Therefore I believe time is borrowed in order to delay the inevitable gap fill on a chart and time MUST be repaid same as energy conservation.  I am taking liberties with the associative property and don't have the background nor inclination to formulate a proof of time-energy conservation but I am sure one exists and perhaps someone can point it out to me.

I hope some of this makes sense and doesn't remove all doubt of my ignorance but it's running around in my head and I must simply get it out there so I can clear some thinking room and perhaps make progress with it to whatever end.

I was preparing to post the above when I spied on my little chart a fresh new gap of .004, the usual suspect.  What a jerk!

P.S. This line of thinking makes me wonder if velocity and acceleration of money supply will end with a jerk? 

Spartacus Rex's picture

You know something is up when...

4_2.jpg

Karankawa's picture

Somewhat on topic in the grand scheme of things.

musicmaker99's picture

Intentions of Commercial Longs?

Now that JPM are long COMEX gold, everyone seems to be assuming that they are an independent entity, acting rationally for profit, and therefore preparing for a huge rally.

Here's an alternative hypothesis. What if JPM is not a rational profit-motivated organization, but simply the agent of the Fed, acting in the marketplace on its behalf? What if their goal is not profit, but long term PM suppression? (In return, the Fed treats them nice with effectively unlimited low interest rate cash.) They tricked the managed money into going short to suppress the price, and maybe the only reason they are long is to take the other side of the managed money shorts. It is quite possible that their goal is not long position profits on a price rise. It seems quite likely to me that they will dump the longs and go short again on the next rally to maintain the price suppression. After all, the Fed can't let the price of gold rise. If that happened the whole world would be able to see that they were debasing the dollar.

I'm not asserting that this is definitely true, I'm just wondering why no one has discussed this possibility.

I understand that JPM's gold coffers are empty, but maybe they can be refilled from their long COMEX position.

Any thoughts about this?

benque's picture

musicmaker99 re JPM

I have seen that view postulated and discussed many times before in TFMR.

Though I believe it is half the case, the other half is that they are not  "patriotic" public servants, struggling to do their best for the "federal" reserve, but are greedy, parasitic scum-sucking bottom feeders, who will do NOTHING, for ANYONE, without extracting every bit of possible profit.  I believe their deal with the fed includes massive profits, without risk, and also; we all know how they wage war on their customers.  Is the fed anything more than just another customer to be looted and pillaged?

Hunt brother's picture

Buy NGD at $6.75...

The New Gold acquisition of Rainy River was a great deal for New Gold.

NGD increased proven and probable reserves by 4 million ounces at a market bottom. Development of Rainy River will be capital intensive. New Gold management is connected to Franco Nevada. New Gold could cut a royalty deal if needed.

Most of New Gold's production will be from Canada. Jurisdiction is always an important consideration.

Turd Ferguson's picture

CoT week

MODERATOR

For the reporting week...

Silver was down 75¢ but its OI rose by 1400. 

Gold was down $20 and its OI rose by about 700.

Here's the interesting thing... During the reporting week, gold OI roundtripped. It began at a multi-year low of just 373,061. By Friday, it was 381,144 but by the close yesterday it was back down to 373,844. 

This week's CoT will be very interesting. Much more so than last week.

SRSrocco's picture

I THINK WERE ARE GOING TO SEE A BIG MOVE UP IN GOLD & SILVER

It really seems like we are going to see a big move up in GOLD & SILVER here at some point in time.  I can't point to any charts as most I don't believe in, however the system is so OUT OF BALANCE today, it just feels like in my GUT we are going to see something BIG SOON.

Just look at the way the NIKKEI is behaving.  It is like a DYING MAN whose vital signs are going all over the place.

Anyhow, I have been looking at BREAK-EVEN prices for gold and silver and I have to say, things are much worse behind the scenes.  I will be putting out a post about gold next week, but I have found that the silver miners (11 out of 12) are now losing money.

SILVER COSTS: Much Higher Than Most Realize

Bongo Jim's picture

Just got my Major Award!

Woohoo! The postman just dropped off my TF autographed yellow foam cowboy hat! Also included was a TF ruler and the chart from the day of the contest. I feel just like Ralpies Dad when he got the leg lamp! I'll post a picture when I get a chance. Thanks again Turd!

Byzantium's picture

@ Prize Fighter

If it is indeed an observable fact that gaps have to be filled, or are nearly always filled, then of course that is something that we are all interested in.

The reason as to why, is a related but separate issue. If it is indeed a near bankable certainty, then of course we are all just as interested in the why. I don't think that your last post does anything towards explaining it. I cannot see that it is an immutable law of trading in the same sense as laws of physics. It would be the result of the way that humans organise or run (or manipulate) trading platforms. I can see no reason why it would be an immutable law, that human activity is beholden to.

All the same, credit due for raising (and tracking) the topic.

Byzantium's picture

This weeks price stability

It is all because of Benque's letter to Chilton.

Well done Benque; they could not allow your detailed predictions to be validated!

rtabit's picture

@Green Lantern

Repost, just noticed new thread.
 
"An actuary doesn't issue an insurance policy until the risk assessment tells him that he can. "
I agree, the actuary didn't understand the essence of the model, as David Li said in 2005, “Very few people understand the essence of the model.”
 
"You  contradict yourself in the same sentence.  Nothing wrong with this specific model, but it didn't work in this context."
What I meant was nothing wrong with the Gaussian Copula Function.  A model would be the parameters you pass that formula, which would obviously be different when modeling two separate sciences.  Anyways Gaussian Copula Function was originaly created to model the broken heart phenomenon.  Broken heart phenomenon had two outcomes, life or death.  With mortgages and economics, the range of possible outcomes here was more complicated and more random than expected.
 
"The Gaussian copula is not an economic model, but it has been similarly misused and is similarly demonised. In broad terms, the Gaussian copula is a formula to map the approximate correlation between two variables. In the financial world it was used to express the relationship between two assets in a simple form. This was foolish. Even the relationship between debt and equity changes with the market conditions. Often it has a negative correlation, but other times it can be positive.
 
That does not mean it was useless. The Gaussian copula provided a convienent way to describe a relationship that held under particular conditions. But it was fed data that reflected a period when housing prices were not correlated to the extent that they turned out to be when the housing bubble popped. You can have the most complicated and complete model in the world to explain asset correlation, but if you calibrate it assuming housing prices won't fall on a national level, the model cannot hedge you against that happening.
 
The Gaussian copula was a statistical convenience which merely provided an approximation of a complex relationship. It cannot be compared to Black-Scholes, which revolutionised finance. Black-Scholes created a new market by providing traders with a whole new way to think about and price risk."
 
 
1.) Li ignored historical data
I could be wrong, and I'm in a rush to get out of here to beat traffic home from work, but I'm pretty sure it used CDS as historical data and they only went back to 1990 I think, I don't think he ignored data, he used limited amount he had for what he was measuring.
 
2.) Li did not bother to calculate "infinite relationships"
That was not the purpose of the model.
 
3.) the formula was adopted by everyone from traders, and hedge fund managers and rating 
I'm not sure if this is bad or good, you'd think if all those people adopted it they'd see it for what it was.  You'd think people would do a little more research before betting trillions of dollars.
 
4.) Nobody could see it coming and it's a useful model.  WRONG!!
The people buying the CDSs saw it coming.
 
5.) Li left the country and continues to refuse to grant interviews or comment on his papers
So what, that makes him a bad person?  From your own article: "Li can't be blamed," says Gilkes of CreditSights. After all, he just invented the model. Instead, we should blame the bankers who misinterpreted it.
 
"Finally, I'll assume that you've dispensed with the other rather strange coincidences regarding David Li because you start with the assumption, which many would call false assumptions, the model was fine and therefore the rest of the story is not applicable. "
I have no problem with conspiracy theories, I haven't researched this one, but this guy didn't do anything wrong.
dropout's picture

Sign. Sign. Everywhere a Sign.

Connecting the dots is fun!

The wealthy elite (1%) have been actively repositioning themselves financially, for the past while now. There are market clues as such as the likes of Soros and Paulson, dumping risk (eg. GLD) and going into tangibles such as miners or blue chip companies with value.   

Go outside the markets and take a look at auctions. Wine, art, jewellery, classic cars, high end real estate such as private islands etc. Almost all categories are setting new high records for winning price bids. They are dumping their fiat currencies as fast as can be and pouring their wealth into tangibles, that will help preserve their wealth from destruction by the ultra poor governmental fiscal policies.

The upward pressure on gold and silver continues to build. The longer the PM cartel caps the price, the higher and more violent the upward move in price will be. They count on your frustration getting the better of you, so you will dump your position. Don't do it. Continue to grit your teeth and if possible, add to your stack at these low prices.   

Byzantium's picture

Turkish civil unrest

Warning: conspiracy theory!

Jim Willie said that Turkey would be the clearing centre for the new gold based trade settlement system.

Such arrangements would need to be delayed and disrupted, from the cartel point of view. Is Turkey now facing its own revolution, and should it therefore be nominated as the vital clearing centre? Turkey's contempt for western allies by joining the gold scheme would also need to be punished.

I suspect western interference. They incited the trouble in Syria, they know how to do it.

These timing coincidences are very suspect. When Norway delivered a slew of 'No's' to the world order (pulling their men from Afghanistan, refusing to participate in Libya, refusing to contribute more to IMF slush funds) they quickly found a few dozen of their children suddenly dead at the hands of yet another of modern history's 'lone gunmen.'

So many coincidences.

Mad5Hatter's picture

Well

if we all are just surviving at this juncture, maybe we all need a pento mid week reality check. But in the broader perspective, based upon the migration of the evil empire, from Moscow to DC here on the earth, watching the action, real time, over a life time, I have two things to say about it.

M Pento coined the phrase "Counterfiteiter in Chief", guess who?

First taught the russians marketing, then advertising, and then intellectual property rights, and thought was finished, well guess what, they dont know how to eat artichokes either, how lame can you get. They probably dont surf either.

By Request:

My favs are:

1) Dont feed the sea gulls, they become dependent, on the San Clemente pier, and

2) Tsunami warning Area (at the beach, 40 feet from the surf, LOL)

dont you just love democrats!!! They're always good for a laugh!

benque's picture

Thanks Byz

It was fear of "The Night of the long TURDS" which was implied by my unsent letter, as well as my indefatigable assault upon bankster "physical stockpiles", I suspect.

Once again, kudos to ag1969.

Cry Me A River's picture

Musicmaker99, Benque, SSrocco

I'm Just Going To Quote Myself For You Guys And Leave It At That:

SSrocco:

Another week has come and gone but the commercials have done something that's a little more than nothing. They've posted a FLAT REPORT for the second time in about 12 weeks. Although this is encouraging in that they have slowed their relentless operation of covering more shorts into the down trend of falling silver prices, I BELIEVE LOWER PRICES ARE STILL AHEAD FOR SILVER

I also think it's possible that the banksters could let the price rise for a week before signaling what I call, a positive COT where they would increase net shorts as a percentage of comex inventory. In this case, the first bottom could materialize a few days before the first positive COT report. We shall see.

To sum this COT indicator up, I've said in the past that if we see rising silver prices along with falling net shorts, I'll be forced to conclude that each cycle preceding it, where "normal" conditions have consisted of INCREASING net shorts into rising prices, are just random events.

In other words, it may be that the net short condition of the commercials MAY have no correlation with silver prices. If so, I'll be the first one to admit and announce it.

Benque and Musicmaker99:

The idea that the commercials will "get long" because they want to be on the "right side" of the market and/or to make "money" (currency) is hard for me to accept because they are agents of the fed where their objective is to suppress the price of silver and gold in order to allay fears from low-information voters that the system might be collapsing. Although I can't verify this, I believe this "primary objective" is more important than "making currency"

Additionally, if they wanted to make currency on the price movements of metals, why not just get long at any given time? Why wait, and why manipulate the price so that we see these wide swings and cycles up and down? They know if they take their foot off the brake, the price would zoom. Why not get long and get on the right side of the market right now?

Well---the answer to this question is, THEY MUST KEEP THE PONZI SCHEME GOING. Move Along!

I don't think we will see a period called "The Banksters, As a Complete Group,  Are  Long And Making Money". Instead, a collapse of some kind involving paper/physical disconnect and or debt/derivatives blow up along with high debt service interest rates will materialize. When will it happen?---WHO KNOWS?  But, the banksters reaction will be default followed by temporary bailouts. The objective of manipulation will never be dropped as long as they can deceive the public.

I can't visualize the commercials as a group "getting long" or trying to "make currency" doing it when their objective is to manipulate gold and silver to keep the ponzi alive.

Of course they have a "profit motive", but I believe the "manipulation motive" takes precedent. Therefore, we'll probably never see them take their foot off the brake to allow the metals to "run-up".

The problem with comparing today's bankster action with the period '79-'80 is that our respective debt,economic and demographic environments are completely different now.

In  1979 our economy was "recoverable" meaning that high interest rates imposed by the fed were reversible because that long-ago, relatively healthy economy not only had 16 times less total debt, but was much more lively. It was manufacturing oriented. We had many more higher paying jobs, less people on Govt. hand-out programs---the list can go on and on how different things were back then. 

Today, THE PRIMARY DIRECTIVE of the fed is to keep the ponzi going at all costs. We can't raise interest rates, we can stop food stamp programs, we can't stop POMO-ing the stock market, we can't stop manipulating silver and gold and we can't stop clandestinely sending tons of cash over-seas to promote our agenda.

Therefore, the idea that the banks would get long to make currency from rising metals prices is absurd. There---I said it.

benque's picture

Jake-well put

I should have qualified my position by saying that the banks themselves matter not, it's the banksters who will individually profit from any likely scenario....until someone fires up the guillotines.

Prize Fighter's picture

Byzantium

Thanks for your thoughts.  "I don't think that your last post does anything towards explaining it."  That means you read it! LOL

No it doesn't and of course you are right.  My goal wasn't to prove anything other than to attempt to connect my intuition with factual terms.  It doesn't further the theory but simply calls certain observations by name based on my understanding of them. 

"It would be the result of the way that humans organise or run (or manipulate) trading platforms. I can see no reason why it would be an immutable law, that human activity is beholden to."

That's a good point but it raises another, are humans not beholden to immutable laws?  What isn't?  This is getting into The Secret territory which I haven't read but I hold dear the term, serendipity.  Everything is connected IMO.  I'm just attempting to connect some of my experience with this into verifiable and empirical terms.  Math being the language of the universe, price charts in the time of fraud seems like a fun place test it. 

Maybe it is a grand reach on my part. Maybe you're right.  It whittles the time anyway. 

argent rampant's picture

@SRSrocco

Saw your article regarding miners' actual cost of production on your website earlier today. Very educational. Thanks!

Wizard's picture

This could get interesting

$3 Billion Lawsuit Against Obama, Verizon, NSA and Judge

http://www.scribd.com/doc/146930457/PRISM-Class

Cry Me A River's picture

benque says,

"...it's the banksters who will individually profit from any likely scenario....until someone fires up the guillotines...."

Unfortunately, you're right. The ponzi scheming and the metal price suppression machine will continue until the day before we see another revolution in this country. Unfortunately again, those in power have prepared for it and will thus render this "next revolution" impotent.

What to do about it as an average debt slave in this country? Wait for a time when paper has lost it's faithful backing. The function of the metals will then be vindicated and they will function as a preservative of purchasing power.

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