Guest Post: "Gold Market Manipulation", by Gary Savage

Back on Wednesday, technical analyst Gary Savage published a terrific video presentation that dissects the ongoing price manipulation in the paper gold market. Since it covers several of the topics we routinely discuss here at TFMR, I wrote Gary to ask if we could use it as a guest post and he happily obliged.

So, please take some time this weekend to watch the video below. You'll notice that Gary points out several of the features that we've followed for years. For example, Gary discusses the downtrend that has been enforced since 2013. Here at TFMR, we call this "The Nemesis Line" and the significance of this trendline and succession of lower lows is well known to Vault subscribers.

Gary also takes some time to address what appears to be an ongoing, overt effort to prop up the equity markets. Again, Vault subscribers will recall how many times we've pointed out all of the V-shaped recoveries in the S&P. The chart below from last week shows at least 21 over the past twelve months.

Gary makes several other worthwhile points, too, so please take the time to watch this video over the weekend. You'll be glad you did.



by, Gary Savage of

In this video, I explain how and why I think the gold bear market is artificial, and due to manipulation by a few big banks in the paper market. I discuss the market reaction that will confirm I’m correct. The analysts that for a couple of years have been trying to deny manipulation are ultimately going to look like idiots, and the Sinclairs of the world are going to have the last laugh, and will be proven correct in the end.



Turd Ferguson's picture

Follow up video


On Thursday, Gary released a follow up video that he called "Gold Manipulation Part 2". You should be sure to watch this, as well.


Rakka's picture

1st in Japan

Now to listen

Wingy's picture

What? 2nd?

Merry Christmas all!

Louie's picture


We don't count posts by the chief, do we?

Merry Christmas to all, and happy, healthy, and prosperous New Year.

Here is hoping that in the coming year we are satisfied with fighting the (unending) war on drugs, and the (unending) war on terror, and that we don't have a huge blow up in Syria/Turkey/Ukraine and surrounding areas.     

canary's picture

Disoriented and lost my count in Siberia

2c piece's picture

Merry Christmas and happy New

Merry Christmas and happy New year to all.
Saw the big short with two family members and my son's friend. They came in without a clue, enjoyed the movie and left without a clue.

4 oz's picture

Nice to Hear Gary Articulate So Clearly!

I confess that I do have some affection for these:


....but at the same time I have come to understand that exchanging this currency that I do have some affection for,  for the thing to do.....

These.....which I have come to see as more precious & believe to be dramatically undervalued; Not even factoring in coming write downs, 'haircuts' and bankster shenanigans or factoring in years of clear price control as Gary referred to...also widely called manipulation. Know I'm preaching to the choir, but am encouraged by Gary Savage adding his voice to those that see this shit...

I will strive to add phyzz every chance I get --even as the spot price rises.

SS121's picture

Silver Stacking 101: Don't disturb the mouse


These guys actually like to do this.

That's why they do it, because they like to do it.

they like to climb up in one of those little contraptions and start running.  

the faster they go the faster the wheel goes so they never actually get anywhere.

they are not ever going to get anywhere, but it is familiar, and they just like it.

they just like to run in that little wheel.

most mice usually go at it for a solid 1 to 2 minutes and then they stop and go about their day.

It is important in the process of maturing as a Stacker of Silver (and Gold) to know this.  

Why?... because, as you experience your allotted time here on Earth you might run across mice running in those little mouse-wheels and you might think "hey, i should help that mouse get out of that wheel"  or "i should tell that mouse why running in that little wheel is never going to blah blah blah".  

but NO, the mouse likes what it's doing, and if you disturb the mouse while it is doing what it is doing, it will not enjoy it's familiar activity.

- -

Quick Review

  1. The mouse likes running in the little mouse-wheel
  2. the mouse should not be disturbed while running in the little mouse-wheel
  3. You should keep stacking Silver
Safety Dan's picture

Gold P&F shows important

Gold P&F shows important resistance $1160 for keeping bearish objective $901, with $1050 key support

Gold Spot price is currently $1075

Note the ratio resistance has been broken suggesting uptrend

Marcus's picture

@4 oz

You know it and I know it, but it bears repeating: 

“Paper is poverty… it is only the ghost of money, and not money itself.”~Letter by Thomas Jefferson to Edward Carrington, 1788

Someday, and perhaps soon, the "paperbugs" will learn it too.

chocolatechiphorses's picture

How many of Craig's pallets would this be? 46 million

A Mark Rothko painting sold for $46.5 million at a Sotheby's auction in New York, an evening in which several records were set including one for a work by German artist Sigmar Polke.

Employees of Sotheby's auction house pose with US artist Mark Rothko's© AFP Justin Tallis Employees of Sotheby's auction house with US artist Mark Rothko's "Untitled (Yellow and Blue)," which sold for $46.5 million at a Sotheby's auction in New York.

amarula4's picture

New Star Wars sucks - Stefan Molyneux review

I knew it did just from the trailers...

Merry xmas

gold slut's picture

@ chocolateciphorses

Great post (hat-tipped you) but had to comment on the last post you made, and probably get myself shot down in the process...

What the hell is that thing in the picture that they are holding up?? Is it really worth $46.5 million?

Once upon a time, wifey and myself were done a good-turn by a nice guy who we knew many years ago, and knowing that he was into 'modern art', we decided to say 'thanks' by giving him an original modern art work.  Both of us are quite arty, so we arranged a canvas and between us painted him a picture (very modern and alien to us both) which required next to no effort on our part and was bashed out between chores and in stolen moments.  When it was finished, and we gave it to him signed by both of us (he thought a joint-effort painting was sooo modern!)  He remodeled his lounge around it, the works!  Although we were happy that he was pleased with it, we both thought it was crap.  No effort involved and we could knock-out two of those things a day with a little effort!

Sorry for the rant, but modern 'art' as seen in chocolaitchiphorse's post IS NOT ART!!!  It is something painted yellow and blue!

Sorry for the rant everyone, fire away.....

infometron's picture

@gold slut Re: Rant

"Sorry for the rant, but modern 'art' as seen in chocolaitchiphorse's post IS NOT ART!!!  It is something painted yellow and blue!"

That's exactly the way I see it too, @gold slut, and I fancy myself to have a fairly refined aesthetic sensibility. $46M!? There's a sucker born every minute... tsk tsk

Edit: on second inspection, I think I get it! It's a natural infinity pool looking out over a vast expanse of ocean from a crab's eye view from a sandy beach using an ultra high powered telescope designed especially for crabs looking over the ocean into the sun, the curvature of the horizon has been rendered linear... brilliant!! <sarc>

chocolatechiphorses's picture

@gold slut

I agree, and thought the "art" price was ridiculous, which is why I posted it.  It's amazing what passes for  "art" these days.  If I had 46 million, I would much rather have Craig's pallets of silver or gold.   *:) happy.

Image result for silver and gold  kilo coin photos  

cc horses

Angry Chef's picture

46.5 Meg For That ?

I'm feeling inspired by that painting. I'm going to my garage right now and get some old paint and a roller out. I think I'll call it " Purple and Green ". I'll probably get at least a Meg for it and I'll then convert it to Silver & Gold !

Bohemian's picture

RE: Oil Painting

$46.5 Meg, it means that for the basic, primed canvas and oil paints -- $375, the first class material -- $1,500; and about $46 Meg for the signature. That's the problem. ;-)

Angry Chef's picture

The Big Short: Repackaged Into 2016

New post from Denver Dave. I like this line...

"Perhaps one of the finest directorial features of “The Big Short” was watching the players who made huge bets against Wall Street as they waited in a state of torture for the mortgage market to collapse while Wall Street’s web of fraud, market manipulation and propaganda was used to hold up the mortgage market.   Sound familiar? 

Sounds like a Turdite waiting for the COMEX to blow doesn't it ?

lakedweller2's picture


Thinking the same thing.

LostMind's picture

Just saw the Big Short

Excellent movie for what it was and what it was trying to convey. My fiancee has always been a little worried about my analysis, now she is a believer. My kids have a little better understanding, but neither trust the system anyway (yes, I'm proud of that!)

Do I think it will wake people up? Yes. Enough? No...

Also, I too felt that overwhelming sense of helplessness waiting for what we all know to be the next major crash...

2015 was a great year for planning, catching up, and learning. Added a lot of AG, lead, lead delivery systems, medical, and food. Expecting 2016 to be the same as 2015, just a little closer to that final "oh shit" moment...

Anyway, thank you to everyone. Hope you all had a wonderful Merry Christmas and will have a very blessed New Year!!

canary's picture

I had a good laughter....

...when my friend told me that on Christmas day when him and wife stepped outside of their was likely their dog that locked them out........and then "refused to negotiate".

To make it a gold related (holiday) story....I think it was a Golden Retriever.

Wingy's picture

Re: The Big Short

First, I have NOT seen this film yet. But for the folks that are waiting for the next big fall for the economy. (That's me too.) My worry is that in 2008, TPTB found out that if you print enough money, you can even out the balance sheets and the banks emerge unscathed. Well, if the commodities markets blow up, what's to keep the PTB from making the shorters whole and it's "No harm, no foul"? The banks open the next day and it's business as usual. A few stories in the press about ANOTHER intervention by the Fed, and except for a larger debt for our great grandchildren, no one will care. The power bill will get paid and the grocery stores will still take EBT cards, so who will care? So who will tell the FED that they can't print more money? The Treasury? The New York Times? The President?

Just a thought...

Fatso's picture

Cliff High mostly on PMs for 2016

Clif has posted a video that I find compelling. Personally, I highly recommend viewing it. He suggests Comex default about March/april 2016.

SS121's picture

zh dubai/turkey/ iran gold "smuggling" stories beyond ridiculous

so, a company that runs some pgold vending machines folds in the night

then all-knowing zh spins out a mini-series about gold "smuggling" ...turkey, iran, dubai... ...,  'gold laundering' etc...

is this supposed to be the followup to the gold for oil silliness they ran a couple of years ago?  maybe with the added subliminal warning for cash laden people to stay away from gold, ...big risk, "investors losing all" etc etc..

zh is of the system, by the system, and for the system.  zh takes disenfranchised system investors and molds them into the controlled opposition for the franchised system investors.  both sides falling under the umbrella of the "markets" and "charts" being legit and all the east vs west, red-team vs blue-team narratives that keep them too busy to ever look around and actually think for themselves.

i might be mistaken but it seems that some are awakening, and many others are slowly starting to stir. (i get notes that i'm not nearly as crazy as i used to be, even tho i've been explaining the same simple reality of the situation the entire time)

everybody's all excited about The Big Short.  has anyone considered that it's actually pro-system propaganda.  no?  don't "get it"?  you think the bros. give a rats @$$ about the "Big Banks"?   they'd sac them in 2 seconds and then offer the breathless masses another solution within their system.  and 'oh how the people would then be bought in'.  

zh said everybody should watch The Big Short, and be really pissed off!!!  just trying to get the sheep's feet moving so they can run them over the cliff.  all so so so so so so so obvious.

How about recommending everyone stack physical Silver and get away from all central investment "chart" based arenas??   How about questioning who owns those privately owned charts?  How about explaining why the silver chart has overtly reacted directly to public physical Silver demand for over 2 years??  No way could HFT Algos, big banks, trading, etc..  have anything to do with it.

it's all a lie, a hoax, a charade, and it's not even very complicated.  a 12 year old kid could see how this all works.  but a system educated adult with a system manufactured worldview can't handle the implications of reality.  except, thankfully, for some.

"ALL THE GOLD WENT TO IRAN!!" says Agent Durden

"oh dear, all the gold went to iran" says the lost sheep as they wait to be told what this means. 

the bros. own the charts, the currencies, and the financial media.  INCLUDING Agent Durden!!  

The Big Short... All The Gold Went to Iran...  still??   Is that where you want to be when all is revealed??  you still want to be humpin' and lovin' that old worn out sex doll that agent Durden blows up for you when Silver and Gold have returned to their global monetary position??

Only Silver and Gold are Money 

Louie's picture

Gold for Iranian oil was real

The Iranian oil embargo prevented Iran being paid for their oil in USD.  Turkey paid Iran for oil in Turkish Lira, which is not much good for settling international debts.  Iran used the Lira to purchase gold, then shipped it to Dubai.  In Dubai, Iran sold gold for USD and then used the funds to settle their international debts.  

It was the real deal. 

infometron's picture

@Louie Re: Iranian Deal

I recall hearing that a highly unpublicized part of the Iranian deal is that they would agree to stop doing that oil for gold trade... This was apparently part and parcel of Kerry stating that the deal must pass in order to maintain dollar reserve status.

I hate hearsay. Can anyone verify?

Louie's picture

Oil sanctions lifted

Iran no longer has to do the oil for Lira for Gold for USD swap because the sanctions have been lifted. Iran can now sell oil directly for USD.  

The oil for gold scheme was not (in my opinion) that big of a deal as far as gold shifting from west to east.  When Iran sold the gold, Dubai would then either sell the gold in their markets, or send it back to Turkey to give to Iran for the next shipment.  The gold was circulating, not going out of circulation.   

It may have had some impact on the global support for the petro-dollar.  Last thing we would want is for people to start asking for gold in payment rather than FRNs. Right. wink

bp9291's picture

Kerry and the dollar reserve

My opinion that Kerry's comment about the dollar reserve ending with a shake of the hand and "its kind of shaky anyway"  was a warning, this followed Obama a week earlier saying essentially the same thing.   There was no discernable reason for either comment, except to be able to point back and say I warned you, look at the tapes.   I may or may not be full of it but I do believe they like to clear their past, look at Greenspan's comments about Gold in New Orleans, and there are many others.   Just my opinion but I believe that this whole thing is  decided and just playing out.  

If Goldman and gold and Jpm and silver is true then you follow the lead of the banks and buy au and ag.   They always win and the people always lose.  This will absolutely be described by history as the greatest fraud and robbery  in the history of the world.  I also really enjoy the now 12.6 billion interest payouts to the banks for "excess liquidity" for money that doesn't exist and doesn't belong to them if it did.   Got to hand it to them, they don't miss a thing.

SS121's picture

@Infometron re: hearsay

I hate hearsay. Can anyone verify?

No.  Nobody can verify.  Or question.  Or receive one single objective verifiable fact regarding any of it.

zh introduces a narrative, then follows it up with another story that usually starts out "what was originally suspected has now been proven as blah blah blah..." and what is the proof??  ...their next story. It really is that ridiculous.  They're self-referential and self-validating.  over and over and over again.

Tyler Durden's picture Keep The People Straining To See Behind The Curtain So They Will Never Notice What Is Happening Right In Front Of Them!  

- - -

and fwiw, the transaction would still have been a usd denominated transaction since they traded x "Dollars" worth of gold for x "Dollars" worth of oil.  

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