Profanity-Laced Tirade

334
119
Thu, Nov 17, 2011 - 11:01am

Oh, how I would like to launch into one. What we have seen recently, and what we are currently witnessing, is the most blatant and disgusting manipulation of the metals I've seen. That it is allowed to stand without question by the CFTC, the SEC and the media sickens me to the point of nausea.

However, for the sake of our none-Fbomb-loving readers and in the spirit of inclusiveness, I will do my best to avoid lacing this post with the profanity it deserves. Let's instead just simply lay it out chronologically:

(Before we start, full disclosure: I do not currently have any positions. Heck, I don't even currently have a broker. I do not have an ax to grind regarding trading losses. I'm simply disgusted by the ongoing corruption.)

1) In the wake of the S&P downgrade of U.S. credit, gold rallies from 1650 to 1920 over a period of six weeks, primarily on the back of Cartel short-covering. New longs also enter the gold market as gold and the Swissie are viewed as the only "safe havens".

2) This absence of sellers panics The Cartel. They petition their friends at the CME to raise margins.

3) Gold trades back to 1750 but then rebounds almost as quickly.

4) The rallying Swissie frightens the Swiss and unbalances the currency trade in Europe.

5) The Swiss decide to devalue their currency by 10% by pegging it to the euro. Knowing this will cause a steep rally in the only remaining "safe haven", a dastardly plan is put into place.

6) The Swiss announce their plan in the overnight (U.S.) following a U.S. bank and government holiday.

7) Five minutes before the announcement is made, the Swiss National Bank sells a massive quantity of paper gold, causing gold to drop over $50.

8) This has the desired, counter-intuitive effect of suppressing what should have been a massive gold rally on the back of the Swissie devaluation.

9) This also "saves" The Cartel from a runaway gold price that would have likely smashed through $2000.

10) The Cartel springs into action, forces the downward momentum, gets some additional margin hikes out of the CME and down goes gold, falling from 1923 to 1525 in 15 trading days. Over the same time period, JPM puts the wood to silver, taking it from 44 to 26.

11) All the while, the world geopolitical and economic landscape continues to deteriorate.

a) U.S. economy in toilet. U.S. government total debt reaches $15T. Blah, blah, blah.

b) Europe in crisis. Dexia, Greece, Italy, France. Blah, blah, blah.

c) The Middle East on the brink of war. New IAEA report shows Iran close to nuke. Blah, blah, blah.

d) Chavez repatriates 100 tonnes and other central banks are massive net buyers of gold. Blah, blah, blah.

e) Rioting, protest and insurrection is seen around the globe. Blah, blah, blah.

f) Blah, blah, blah.

12) Gold and silver rebound. Gold back to 1800 and silver back to 35.

13) MFing Global blows itself up, effectively removing, seizing and/or freezing thousands of futures traders accounts. This destroys confidence in paper markets and removes potential buyers.

14) MFing Global assets seized and stolen by JPM to be liquidated and confiscated for their own use.

15) As we approach the December option expiry, JPM and other Cartel members begin to actively sell and suppress gold and silver. Despite increasingly strong fundamentals, the PMs are pressed lower, perhaps to the point of collapse.

Will they collapse? That is the question, now isn't it. It certainly looks like they might.

I'm on record as looking for a November high in gold between 1780 and 1840. I split the difference and called it 1810. The high, so far is 1805. That may be as close as we get. With all of the uncertainty today...crude over $100, the impending failure of the "super committee", the future of the euro, just to name some...gold is down another $30. It is obvious that there is currently a deliberate and intentional manipulative event taking place. Where it stops, nobody knows.

Could paper gold and silver go lower from here? Heck yes they can! The evil C/C/C has:

1) Raised margins to nearly untenable levels.

2) Destroyed trader confidence and trust by closing MF and stealing clients asstes.

This leaves us with way, way more sellers than buyers and.....down she goes, regardless of the fundamentals.

So, what do you do. You definitely DO NOT trade on the LBMA or the Comex. These disgustingly-manipulated playgrounds of The Cartel will continue to be entirely manipulated against regular investors. They will continue in this manner until they finally collapse from the weight of their sins. WHEN they collapse, the value of physical gold and silver will skyrocket. Therefore, take this time to continue to add physical metal. Speed the demise of The Cartel by using their suppression against them. Take delivery. Add to your stack. Hold your metal in your own two hands. Only by physical possession can you be certain that you truly own it. Only by physical possession will we ever be able to crush the evil, soulless banking cartel. And I want to crush them so fucking badly that I can hardly see straight.

TF

(at least I made it all the way to the end before unleashing the Fbomb)

p.s. All that said, I know many of you are looking for charts, nonetheless. So, here you go.

About the Author

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  334 Comments

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buffalo3
Nov 18, 2011 - 11:53pm

Lets quit wasting our time with a non market

Somebody that has the brains, just start a real pysical market trade.. Oh i guess they supposedly do that at the crimex. ebay or want ads.

TechTradepunchbowl
Nov 18, 2011 - 9:40am

Tinted Glasses

As I said in my post, :"Long term, of course I still believe silver and gold will go to new highs.". That will be in response to the world's financial problems. In the long run, fundamentals will assert. But to bitch and moan about the markets being manipulated because prices go down and you want them to go up - that's wearing rose tinted glasses. Inability to accept the short term market direction, when the indicators clearly show that a correction is underway.

ArjenNoSuckerNoBloodsucker
Nov 18, 2011 - 7:20am

I would like to second that

I would like to second that question. :)

Does gold show up differently (and obviously?) on screening machines?

Would be nice if i could just put some krugers in my wallet and have no questions :)

Espescially since im planning to go buy a little sailboat in guatemala and questions in a country like that might easilly mean confiscations by some corrupt officer.

punchbowl
Nov 18, 2011 - 4:37am

tech trade

Yeah, the movement in the PMs is completely organic. Zero manipulation. GATA and all of that noise is hooey.

Just like the tint of the glasses you are wearing everything is roses -- the world finances are all in order and that is why Pms are selling off. What was everyone concerned about?? the printing presses are getting warmed up -- pour yourself another cocktail. Lets party!! Doom and gloom this!!

Yeehaw.

NoSuckerNoBloodsucker
Nov 18, 2011 - 2:58am

Undeclared coin(s) on an airplane.

Does anyone have any experience, or advice, or warnings about moving 1oz coins through international airports, in carry-on luggage? I am thinking about moving only 1 gold coin at this time, but in general, I'm worried about people stealing my property in the guise of authority, and generally causing problems for me. I'm also interested in learning, precisely, what the limitations are on freedom at this time. I know that for the US, $10,000 is a threshold... but I'm not exactly sure what that means, or what it's for.

Pretty soon I'm leaving Korea and going back to the US. For the practical matter of moving a single gold coin in my carry-on luggage, is there a way to disguise it? (in a jumble of fiat money?) Does gold show up differently (and obviously?) on screening machines? Is keistering even a viable option? (sorta jk...)

Anyone who has successfully taken gold through international airports, (or had their property stolen...) I'd love to hear what you have to say.

exiledbear
Nov 18, 2011 - 2:19am

Dutch stereotype

Self-righteous? I lived there for a year. I'd call them Berkeley liberal - they're ultra liberal on things that do not directly affect them - and ultra right wing on things that do. That's not quite self-righteous.

The classic Dutch stereotype in my mind is they're penny pinchers and money hungry. Then again, if you live there, you quickly figure out that everything they have has to be imported, as they have no natural resources other than agriculture and trade over the seas. So either you become a very skilled and savvy farmer, or you become a very skilled and savvy pirate.

However, they treat their workers fairly well and everyone there seems to live comfortably. I wouldn't mind living there again, but then, I'm kind of weedy - I can live in places other people wouldn't. I don't think I'd do too well in Southern Europe, but most of the northern countries, yeah, I wouldn't mind it.

Rui
Nov 18, 2011 - 2:19am

Bollinger band already signaled a big move

One of the good usage of BB is its ability to predict a sizeable move although not sure in which direction. If you turn on the 8-hr chart on the silver spot chart you can see silver is locked inside a tight, concentrated band for 2 weeks, which signals a big move. The Sept ambush was preceded by a similar tight, concentrated Bollinger band.

TechTrade
Nov 18, 2011 - 12:49am

Boo-de-Hoo-Hoo

How pathetic, TF. Blaming a natural decline on all sorts of conspiracies, manipulations, evil empires. Grow the F**K up.

This is a natural market correction. All you have to do is watch the technical indicators, and you can see the sell signals. You can see the daily stochastics roll over as it gets overbought at $1800 and $35. Once the STOs cross over and start heading down, you sell the rallies, moron. $1780 - 1800 was a natural sell target, and a gift, for those who aren't blinded by the unquestioning loyalty of gold $2000 / $2500 / pick your price, and TF's prediction (based on God knows what, you obviously can't read a chart to save your life, because you're so biased to the long side) of $39 by Thanksgiving. If nothing else, that was my signal to start getting short.

And did, and have been making great returns on the short side in the short term.

Long term, of course I still believe silver and gold will go to new highs. WHEN silver gets down to $30, or $25 or $22, I will buy even more physical. I'm loading up on April and May gold and silver call spreads right now. But for futures, until the daily STO bottoms (and even more concerningly, the daily MACD is just about to cross over to the down side), you have to sell the rallies. That's where the easy money is. Trying to pick bottoms, until the daily STO crosses back up, is trying to catch the rapidly falling knife.

I don't know where you get your chart reading "skillz", but you're so prejudiced in one direction, it blinds you to what is happening in reality. Gold has a good chance of getting to at least 1690-1700, and perhaps 1650-1660 (8% correction from the last high). Could test the lows of 1550 area, or even get to the 23% Fib extension of 1470 or so. Silver is almost certain to test the 30 level. Might be 28, 26, or even at an extreme, 22. Are these places to buy? Yes. But buying here, while the indicators are still going down, and have lots of room to go, is suicide, just as it was 2 months ago, when we dropped from 44 to 26. Buying at $35-36 on the way down at that time, because it was "cheap" relative to 44, was a losing play in the short term.

This is a natural market correction. No conspiracies, no bogey-men, just human nature in a correction of a bull market. The sooner you quit whining about how the market doesn't meet your preconceptions and you start following and accepting what the price action, and the technical indicators are screaming to you, the happier (and wealthier, if you want to do short-term trading) you'll be. Accept reality, profit from it, and then when the correction plays out (as it probably will by Dec. 1), you'll be ready to THEN get long and participate in the next up-cycle. Until then, keep your powder dry, short term trade on the short side, and don't buy too early. And don't blame "unseen forces" for your market not doing what you wish it would do. That's childish.

BTW, great call on buying those soybean calls at 1350-1375. Let's see - beans now at new lows of 1160-1170. Ever think about SHORTING IT, once your support levels got blown out? I thought not. Obviously you look at the gold and silver markets the same way - i.e., ONE WAY. Enjoy the Kool-Aid - it can kill ya.

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atarangi
Nov 18, 2011 - 12:05am

Dr.Jerome - - -

Silver is the winner. Everyone is trying to theorize what's going on. Who the fuck cares. Silver is no.1. The fundamentals are suggesting it will remain no.1. for some time. Like about the next 20 years. Dr. Jerome, to me you have got winner written all over you, don't let me down. - - - all the best mate.

Canadub
Nov 17, 2011 - 10:42pm

Well if this isn't the biggest...

Kinda felt like this today...

Clark Freaks Out - Christmas Vacation (9/10) Movie CLIP (1989) HD

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