The Next Step In Their Plan

Back on Tuesday I wrote that "they would be coming again". And so they are. What should come as no surprise is that today's manufactured selloff was prompted/signaled by another bearish report from Goldman Sachs.

In case you're wondering: Yes, you have seen this before. Recall that back in April of 2013, the criminals at Tungstenman issued a bearish report on gold just days before the major raid of April 12-15. Of course, all the while, Goldman was using the weakness to accumulate a massive long position in the GLD for the proprietary accounts. Muppets beware!

So what happened last night? Goldman once again released a "bearish" report on gold where they advised that they were "selling with conviction" with price above $1300. This story hit ZeroHedge at 8:44 pm and gold was sent reeling shortly thereafter:

It should then come as no surprise that the hammering has continued on the Comex this morning. The intent was to take gold down today and there is no stopping them. At this point, is is very important that you recall the warning I gave you just two days ago. The post can be found here: and it concluded with this warning:

"The point of this is to warn you but, more importantly, remind you that this is all managed and purposeful. The Evil Cartel Banks are desperately trying to knock price back down and below the main trendline that we've been following all year. Will they be successful? Maybe. Last week's geo-political events caught everyone, including The Forces of Darkness, by surprise and it clearly disrupted their intentions. With the overnight action, though, they've clearly shown their intent to resume their current operation. Let's watch for support first at the bottom of the 5-week range near $1305, then at the lows last week near $1292 and then at the all-important trendline and $1280."

And it is critical that you keep all of this in mind this morning. Note that the report from Goldman also stated that they very much hate copper, too, along with iron ore. But yet, copper is actually UP today by 1.5%. Do you now see how all of this fits together? The Goldman piece was purposefully designed to give gold a shove to the downside, breaking support and the bottom end of the range at $1305. This then inspired/allowed follow-on selling that has since taken gold down to the support of last week's lows near $1292. Will they be successful in taking those lows out, too? Probably. Why? Because their ultimate goal remains the main trendline that we've been following all year. It is the defense of that trendline that led The Banks to issue 100,000 new net shorts over the past 6 weeks and it is the defense of that trendline that is behind this current beatdown scheme.

In the short term, the options sweet spot likely remains near $1300 so the major effort to push down toward and below the trendline may hold off until mid week next. Regardless, just know that this is obviously their intention and goal and plan/prepare accordingly.

Since late June, I've been telling you that I wanted to see price come down and "ride" that trendline as support before turning higher again and charging to the next level, which would now be getting back above $1345. So, all of this is going exactly as planned and hoped. It just took a little longer to develop than I had initially expected. Nothing has changed my forecast, though. I still expect strong support at the trendline and the area between $1270 and $1280. From there, I expect price to reverse and turn higher in August, moving through $1345 and firmly establishing to all willing to look that The Bottoms are in and that the forced correction from 2012-2014 is over.

I'll conclude this post with one more snippet from Tuesday:

"You've been warned. Again, though, understand what's going on and use this knowledge to your advantage. Get ready to BTFD and profit from the rally into year end."



CPE's picture


monkey bastards!

Turd Ferguson's picture


And please welcome our newest advertiser/sponsor to the site.

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Klingon's picture



Turd Ferguson's picture

They're coming hard after silver, too


And, with price now under $20.60, it could fall very quickly toward $20.20 or even $19.80.

Be advised and be prepared.

Turd Ferguson's picture

The earlier "shove"


As seen by Nanex:


Joseph Warren's picture


do I watch 'prices' ?  Is it just an obsession ?  Since gold price suppression is a key to their maintaining power, its possible that we may Never see a real dollar price for it quoted. That is, until the whole system comes crashing down and there's a re-set.

Like in the first Matrix movie when the sell out crew member meets with the evil agents. . . .

"I know this steak isn't real, and yet . . . . ."

Turd Ferguson's picture

"Yats" is out!


I wonder what puppet Victoria and her buddies will put in next?


tyberious's picture

July 24, 2013 Barcelona,

July 24, 2013
Barcelona, Spain

Ten dark suited men entered the premises of FBME bank in Cyprus on Friday afternoon and took it hostage. 

It must have looked like a scene from the Matrix. And given the surrealism of how this conflict is escalating, maybe it was. 

The men were from the Central Bank of Cyprus (CBC). And they commandeered FBME because an obscure agency within the US government recently issued a report accusing the bank of laundering money. 

It just so happens that FBME… and Cyprus in general… is where a lot of wealthy Russians hold their vast fortunes. 

Bear in mind, there has been no proof that any crime was committed. There was no court hearing. No charges were read. It wasn’t even the government of Cyprus who accused them of anything.

There was just a generic report penned by some bureaucrat 10,000 miles away.

Funny thing—when HSBC got caught red-handed laundering funds for a Mexican drug cartel last year, the US government gave them a slap on the wrist. HSBC got off with a fine.

Yet when the US government merely hints that FBME could be laundering money, the bank gets taken over at gunpoint. 

Welcome to warfare in the 21st century. It’s not about battleships and ground troops anymore. 

This time the adversaries are battling each other using what ultimately affects everyone: money.

And on this battlefield the US doesn’t really have many options. 

  • US banks still form the nucleus of the global financial system, but this is quickly being replaced.
  • Just last week the BRICS nations met in Fortaleza, Brazil to launch the origins of a brand new, non-US financial system.
  • The US is still the largest economy in the world, but will likely lose this status to China by the end of the year.
  • The US dollar is still the most widely used currency in global trade, but even America’s closest allies (Canada, Western Europe) recognize that the time has come to move beyond the dollar.

So while the US is still running around and barking at others, it is quickly losing its capacity to bite.

Their only tactic is to haphazardly attack Russian interests wherever they can. 

They’re sanctioning Russian companies. They’re trying to torpedo international support for Russia. And now they’ve resorted to plundering Russian assets held in other sovereign nations.

Imagine you’re Qatar. Or China. Or Kuwait. Or Singapore. Or anyone else who holds substantial amounts of US debt.

All of these countries understand the lesson loud and clear: when the US doesn’t like you, they will do everything they can to make your life difficult. 

Does this inspire confidence? If you’re holding hundreds of billions of dollars of US Treasuries, does this really improve your level of trust in the US?

Probably not. 

By terrorizing Russian interests, the Obama administration is begging the rest of the world to reconsider their misplaced trust in the United States.

All these foreign countries really have to do if they want to retaliate is start dumping their US Treasuries. Or simply stop rolling over when the notes mature.

That will cause catastrophic consequences in the United States. Interest rates will soar, inflation will kick in, and the government will be even closer to default than it already is.

Inexplicably, Mr. Obama is practically begging the world to do this. It’s tremendously arrogant. 

It’s like the economic warfare equivalent of Napoleon pompously leading his overstretched, exhausted army into Russia. 

And neither Napoleon nor Obama gave the slightest consideration to the big picture consequences. 

At $17.6 trillion in debt, the US is trying to wage economic war without any ammunition. It’s not something that is going to work out well for them.

I’m off to Ukraine this weekend; stay tuned for further dispatches from the front lines.

Until tomorrow,

Simon Black

Turd Ferguson's picture

And here's a big surprise


As mentioned in yesterday's podcast, bonds are getting smacked today:

Longstreet's picture

Turd, What does "BTFD" you

Turd, What does "BTFD" you use stand for?

Mickey's picture

Housing terrible

new house sales bad.

IBM CAT MCD suffering with poor sales and funky accounting for CAT and IBM (MCD pretty clean on accounting except it has the China and Japan food issue) . banks still have the mark to BS accounting.You have to be a caveman to not understand where this is going.

GDP next week--John Williams says they will report positive but disappointing GDP-even though the real GDP is negative and the initial report next week will be revised down subsequently. And thats using real sales and activity with phony PCE pulled out.

Folks-metals are being held back, we know that. Everything else is suspect too-.

Read the CBO last week about its fiscal crisis warning and soc sec runs out of money sooner because the soc sec and medicare taxes received are less than what thought-meaning people getting paid less regardless of the reason (how about fewer full time and more part time and lesser quality). The CBO also says the benefit payments are higher than expected.

Thats social security and the tax receipts have to be the same prob for medicare, which last year was judged to run out of money in 2020--=probably 2019 now.

When it runs out of money the benefits are reduced 25% automatically. Our transparent govt for and of the people --it would be nice if the govt and media would be disclosing this--when it does get disclosed it will knock this country for a loop.

The problem is not going away--

of course what do we do, we add another health care benefit and misrepresent all aspects of it while the existing ponzi schemes are dying.

Once people figure out we are royally  scre%$%, its all over. We cannot afford bupkis.

someone will have to stand up and say, "oops, we are out of money and lenders so....." you are all on your own as of now". Its coming.

Turd Ferguson's picture

From the Simon Black piece above


This is exactly what I've been saying since February:

By terrorizing Russian interests, the Obama administration is begging the rest of the world to reconsider their misplaced trust in the United States.

All these foreign countries really have to do if they want to retaliate is start dumping their US Treasuries. Or simply stop rolling over when the notes mature.

That will cause catastrophic consequences in the United States. Interest rates will soar, inflation will kick in, and the government will be even closer to default than it already is.

Inexplicably, Mr. Obama is practically begging the world to do this. It’s tremendously arrogant. 

It’s like the economic warfare equivalent of Napoleon pompously leading his overstretched, exhausted army into Russia. 

And neither Napoleon nor Obama gave the slightest consideration to the big picture consequences. 

At $17.6 trillion in debt, the US is trying to wage economic war without any ammunition. It’s not something that is going to work out well for them.

Silver Sooner's picture

Ukraine Govt Collapses

More than just Yats.  Sounds like two of the coalition parties have pulled out of the Ukraine govt.  WTH

Turd Ferguson's picture

Buy the f-ing dip

Turd Ferguson's picture

Hi, SS


I hope that all is well. I imagine you've been quite busy tending to your extended family. With Donetsk under siege, do you have time to share any insights?

Longstreet's picture

Turd, What is you lowest

Turd, What is you lowest target low for this take dowan for both Gold and Silver?

CPE's picture


Buy The Fucking Dip

Turd Ferguson's picture

Somewhere between the $1240


Somewhere between the $1240 lows of May-June and $1280....a higher low in the recovery.

Narrowing it down further, though, I think we "ride the line" as it slides down between $1270 and $1280. That's my most likely, and most hoped-for, forecast.

ggnewmex's picture

With the utter corruption

that exists within the US Gov't ( O'mallia as prime example) and the takedown today...

It is so sad to say that one almost pulls for the underdogs... ( whoever they are) 

It is so sad, and all this is done while America is busy with American idol and the like... and the collection of benefits... 

normalcy bias is rampant... and will likely continue even after we have gone over the cliff. and those same "elites" that have did this to us are gone, laughing...

Yeah.... justice is God's to give out... and for these people, they will have to one day "bow the knee" and give account of what they did. Unless they change course..... wow, sad day for them

Turd Ferguson's picture

(Un)intended consequences


This has been my concern all along. If Hezbollah joins the fight and opens a "second front", things could get out of hand very quickly.

Silver Sooner's picture

Re: Hi, SS

I'm still lurking around.  I've been busy buying a sailboat and making plans to get it delivered and launched.  I can't believe how much I've forgotten about sailing.  I think my first order of business will be to take an inaugural voyage on the lake with my stack.  ;-)

In all seriousness, we've been looking at ways to get the family somewhere safe and keep hitting brick walls.  My brother-in-law has special needs (epileptic and at about a 12-y/o mental level), so simply getting a visa for mom and dad won't work.  This is the big reason why they've decided to just hunker down.  We've also been trying to get a tourist (B2) visa for sis-in-law--it would at most be for 6 months, but it would get her away from the conflict and be an extra set of hands when Little SS #2 gets here around Thanksgiving.  

I haven't had a lot to add that hasn't already been said.  From all of our sources, SBC consistently nails it with his summarization of the conflict.  I would say that there are still A LOT of people in Donetsk, but the city is just now taking on a war-time footing.  The 3 hours of daily water in Donetsk has been that way for a month already.  Dad's job was canceled (the work project halted) so he's now unemployed.  Mom still works part-time at a local company and sis is working for the Donbass county (chain of command to Kiev) finance dept.  They hear the battles at the airport, but so far, nothing has gotten too close to any of them.  So, life still goes on in Donetsk.  What's surreal is that there can be a tank battle at the train station one day, then two days later, everything is up and running normally.  

We don't have any friends or family who are directly supporting the militia or the govt forces, so I don't have any good intel in those areas.  A lot of friends have sent their wives and children to Crimea or Russia.  One Jewish family is trying to immigrate to Germany where his parents currently live.  On the whole, everyone seems exhausted by the conflict and just want it to end.  EVERYONE agrees it is virtually impossible to know what is true and what the real situation is.  Fog of war indeed.

I wish I could provide a golden nugget of info right now, but honestly, it's really tough to discern any noticeable trend.  NAF continues to squeeze the southern pocket, but neither side has achieved anything decisive.  UAF makes pushes on Lugansk, Donetsk airport and Severdonetsk, only to be repelled an lose ground the next day.  There has also been a lot of talk about an almost-coup in Donetsk that was being negotiated behind-the-scenes by oligarch Rinat Akhmetov.  Some feel that Strelkov's tactical retreat to Donetsk was in part to cut this move off by strengthening NAF presence in Donetsk city.  But all-in-all, it seems to be another unstable stalemate for the last several days.

I think SBC's assessment that the west is trying to lure Russia into overt intervention is correct and certainly consistent with Brzezinski's grand national strategy that the US seems to be following (re, Grand Chessboard).  MH17, pentagon advisors, etc seem to show the US is aggressively trying to get NATO presence involved in Ukraine.  Russia certainly seems aware of what's going on (ala Putin's public opening remarks to this week's RF security council meeting).  But who knows what will happen next.

A couple of other notable things this week were the Ukrainian parliament banned the Ukrainian communist party.  Hey, I'm no communist, but in a "free" society, one should be able to hold a different opinion.  Guess that's not the case in today's Ukraine.  Today, Ukraine has opened 308 criminal cases against the Ukr communist party members.  Great...ban the ideology then persecute the opposition.  Also, the Ukr Finance Minister today said there wouldn't be state funds to pay for the anti-terror operation past August 1st.  Finally, Poroshenko asked for (and was granted) an increase to the eligible conscription age to 60 (5 years past average Ukrainian male life expectancy).  

So, I wish had something enlightening, but right now, nothing seems too different than 3 weeks ago.  That doesn't mean nothing is happening (Lugansk got shelled HARD the day after MH17 crashed...about 40 civilians were killed) and there is still fierce fighting--it's only the overall situation remains more or less the same.  

And, honestly, this thing takes a huge personal toll on emotions, time and energy.  When there isn't much discussion, I tend to keep to myself.  

Turd Ferguson's picture

Pounding silver in waves


Again, the initial goal was to get price firmly below $20.60:

Once that was accomplished, it opened an air pocket down toward support at $19.80-$20.00. I have some dry powder to spend on ASEs (maybe I'll try out I'm looking to place my order sub-$20.

Clarki Stomias's picture

Ken Hoffman on Shift of Gold Trading to Asia

Not sure if this was posted previously but I don't remember seeing it on the boards, so:

Turd Ferguson's picture

Watch this in silver, too


To get back below its trendline, they need $19.60 at a minimum.

Mickey's picture

I kind of figure

next week brings a ton of bad news, PM friendly--so they have to knock down the price early.

Fed Mtg, expiry, GDP. and continuing world events.

Obama? his experience is talking to the inner city folks in Chicago, and I am not meaning to be disrespectful to them. But when he was community organizer he would speak to these folks and they listened and did not challenge him.

Now he is President and he finds some people actually disagree with him. And he does not know how to reply except to marginalize them. Its one thing for him to do that to republicans, its another to do that to the leaders of other countries, who, by the way might be correct in challenging Obama.

Its like someone going from single A minor leagues to "the big show". Weaknesses get exploited. We are there.

Turd Ferguson's picture

How about this?


From the op-ed pages of the venerable NY Times. A "new Chinese Gold Standard"?

Turd Ferguson's picture

And don't undersestimate the importance of this


As mentioned in yesterday's podcast, the S&P is closing in on 2000 and is only 10 points away as I type. Gold simply cannot be allowed to be rallying during this "historic" event.

Don't look for a +2000 close today. Instead, expect the S&P to close above 2000 tomorrow. That way, the MSM can herald and exalt it all weekend.

realitybiter's picture

Neocons are large and in charge, Turd

Read Project for New American Century, first established in 1997, by Bill Kristol (weekly standard and Fox guy) least 3/4 of the founders are dual Israeli-US citizens -no kidding no anti-semite - just fact...

Victoria Nuland is married to Robert Kagan

Kagan, on CFR, and his Brother and his Father - all are signers of PNAC....they proposed back then (late 90's) that we needed a "new Pearl Harbor" in order to rally the US citizens toward their way of thinkin'.   If you were Columbo, and you were looking for suspects about whodunnit regarding 9-11, I think you could do a lot worse than to set these whack jobs all in different interrogation rooms and asks lots of questions.....I doubt they all could keep all the lies straight....kinda like what you saw in Iraq, Syria, Lybia, and now Ukraine....Neocons...for the most part, a doctrine of "Israel First, at US expense."

By the way, this is not a rant against Jews.  I LOVE jewish people.  But the fact is that neocons signatures on PNAC are predominantly jewish people.  These folks are 2% of American population.  They are running 100% of the whole show!  They don't send their kids into the military....last time I checked,  a whopping 37 US military deaths in the last 12 years are jewish....that ain't right....and I feel for every vet...6700 have died in AFG and Iraq...2% of 6700 is what 134.  Those that identify themselves as jewish in the US military are less than half of one percent...75% underserved...37/134=.27...which is consistent with the "service" data.  This piece brags about the jewish sacrifice.  Are you kidding me?  Did the IDF operate in Iraqi freedom?  AFG?  Nope nada.  Total deaths in the IDF over the last dozen years is about 400, mostly from suicide and domestic accidents....

This is all fact, folks.  It is sick, disgusting stuff.  Put up or shut up.  As they say, put some real skin in the game.

Why?  I think the same group of people are generally NWO-types...not so much jewish, it just works out that way....and destroying the US (AND Russia) is necessary f0r the one world govt folks....who knows?  They don't hand out their secret notes and the CFR and Bilderbergers don't publish their gameplan...

Victoria Nuland should be held accountable for her actions and the whole lot of them should answer for their deeds.

CPE's picture


I bet we see an FUBM, I think these monkeys are also short viagra and bananas...


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