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.

paper_11-17amgold.jpgpaper_11-17amsilv.jpg

About the Author

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turd [at] tfmetalsreport [dot] com ()

  334 Comments


Nov 17, 2011 - 1:57pm

silver under spot? How is that

I don't think now is the time to buy physical...maybe tomorrow. the charts do not look like they are ready to rebound yet, in fact they look like they will roll over again.

But Provident is selling junk 90% AG for under spot (at 1:54 eastern time)... I am tempted, but will wait.

They may be shaking the tree now, but it is a strong tree, well rooted with no termites or rot. 

Hang on.

tpbeta
Nov 17, 2011 - 1:59pm

Sorry to be a bear...

...but being based in Europe, it's perhaps clearer that the Lehman's moment is coming down the tracks. Anyone speculating long in the last few days is taking crazy pills.

Having said which, this thing may well have bottomed out for now.

JackPutter
Nov 17, 2011 - 2:00pm
SuperManny
Nov 17, 2011 - 2:06pm

Gold/Silver Ratio

WOW!! surprise

GSR started out the day under 52 and it's already breached 55! Don't think I've ever seen it move that fast.

JackPutter
Nov 17, 2011 - 2:07pm

The Above Mentioned article is big news

Here's an entire page of articles on bloomberg about it. There's a hornets nest a stirring. When the white collars go to OWS it's one of those things the THEY are NOT in control of. Chaos has it's own timing, direction, morality, and weight.

https://topics.bloomberg.com/jon-corzine/

Ferd Torgerson Eric Original
Nov 17, 2011 - 2:08pm

@ Eric O Miners

I'm not too worried, at least not enough to sell any of my share.

But I'm back to where I was when we exchanged posts three or so weeks ago. I was tempted about a week ago to sell all my shares and buy back on the dip. Didn't do it and now I'm kicking myself for not being able to buy back in at today's prices.

Maybe this is the time I will learn my lesson.

Too bad Turd doesn't provide a "stupid" emoticon in the formatting section.

Pablo
Nov 17, 2011 - 2:08pm

"Stop Online Piracy Act" could shut down TFMR

The "Stop Online Piracy Act" and "Protect IP Act" are currently slithering their way around capitol hill and about to become law.

These laws will implement a root-level kill switch that the government can use against any website it doesn't like, much like the Chinese censorship system. One of the things those elites and pols just can't deal with is regular people knowing what they're up to, so now they're out to control the web.

We need to fight this bill. More information below.

https://www.digitaltrends.com/web/internet-titans-fight-sopa-with-full-page-ny-times-ad/

https://www.readwriteweb.com/enterprise/2011/11/infographic-effects-of-the-int.php

Click here to email your representative --> https://wfc2.wiredforchange.com/o/9042/p/dia/action/public/?action_KEY=8173

LaMachinna
Nov 17, 2011 - 2:08pm

Turd, help a doorknob here...

is your anger mainly MFG/corruption directed or Corruption et al directed?

I was just wondering.....was hearing Santelli just now saying just how big the MF thing truly is and was wondering if MFG is a semi-isolated cess pool or is it a truly intertwined whole ball of USA/global corruption all coming to play =crisis?

I know, repeat, I'm a doorknob, but a trying to learn doorknob at that. 

cpnscarlet
Nov 17, 2011 - 2:09pm

@kliguy - Calm down, nobody's

@kliguy - Calm down, nobody's saying they're all a bunch of maggot-infested-good-time-rock-and-roll-dope-smokin'-leftist-radicals. Just a large majority.

Still an interesting story. Although you get a sense that they were arresting a uniformed officer, he had been retired from the force for seven years. Long enough to be captured by communist spies and brain-washeddevil.

CarolD
Nov 17, 2011 - 2:11pm

MF Global article

Maybe I'm a bit slow but this little paragraph stood out:

At least 22,000 customers who only had cash in their MF Global accounts will get 60 percent of their $869 million on deposit. The transfers will now include investments considered“cash equivalents,” such as Treasury bills and credits. Glenn urged the trustee to seek a similar solution for customers who have a mix of cash and open positions in their accounts.

Cash equivalents such as treasury bills???? Former MF Global clients, would that please you?

ClinkinKY
Nov 17, 2011 - 2:12pm

To kliguy38

I tried to "reply" to your post about the retired policeman being arrested and your comment that "I guess he is a commie now too". Apparently your post has been removed because I got a box saying "this post doesn't exist".

My question to you is this. He appears to be a hero to you now. I suspect that before he retired, you were more than happy to call him a "pig", right?

JackPutter diegeiro
Nov 17, 2011 - 2:14pm

Yeah, but you got nice bikepaths now.;)

Don't you know that TPTB want the USA to be worse off than China? We'll all be on bicycles in the next 2 years.

https://www.youtube.com/watch?feature=player_embedded&v=6cqZffMZ_w8

clueless one
Nov 17, 2011 - 2:17pm

I've got a question for the pros...

I sit here at work, with a 4way chart on the screen. Yes, at work...I know. 

Is it all algos' these days? In other words, IF the "powers" in charge are trying to make a buck...so they're shifting digits from fund to fund, or oil to this or that... you know, moving HUGE amounts around, looking for a profit at all cost.

IF that's the case, and the algos' are simply reacting/responding to the requests of large chunks of capitol moving about, which causes other things to move and such...because that's supposedly what algo trading does...(correct??)

why is it that the chart support/resistance levels are in play, always??? I would think that IF "they" had such an upper hand, and IF "they" controlled things, then us little guys would simply be crushed, right??? Are there that many people out there that are that loose with their money, that they would buy something that was being sold off in a mad panic??

I understand there are millions of trades per day, so there are many many hands in the cookie jar at once...but it seems like the support/resistance points on every chart I look at are a constant. There's almost always a brief stop, or bounce or reversal...and there is ALWAYS someone on the other side of the "trade"...

Soooo... if things are so dire, and "everyone" that plays in this game is aware of just how dangerous and corrupt it supposedly is, then why in the world would someone or a firm or whatever, buy crap paper from a seller of crap paper? It makes absolutely no sense whatsoever.

I guess what I mean is, it seems to me that they'd be selling to themselves...and buying from themselves...just to get movement...ya know??

I dunno..

my head hurts... indecision

as is stated...I'm clueless. but my mind still asks questions....

TitanAe
Nov 17, 2011 - 2:28pm
Teach
Nov 17, 2011 - 2:29pm

Whatever...

At this point in time I really don't care much about the smack downs, liquidity crunches, margin hikes or fiat price. I am pretty much convinced that this is all going to go to sheeit anyways. The metal I hold gives me some sense of security about being able to survive the coming sheeit storm, and to rebuild something somehow from the ashes I feel may be left. I don't get that feeling from my retirement account, which I can't touch for another 51/2 years. I am recommending friends read "The Grapes of Wrath" so people get a hint..possibly followed by "The Road", and then "Illusions". FTSBTSFY! Peace out.

punchbowl
Nov 17, 2011 - 2:32pm

Gongshow

We live in an absolute gongshow. 

jlrchrds
Nov 17, 2011 - 2:33pm

Bad day

Short ramble. I've lost a lot of fiat "money" today, fiat that currently provides my family with long term security. Question is, what is money... I'm not so sure anymore. I think Martin Armstrong has it right, no single asset is a store of value ultimately. The definition of money changes, it ebbs and flows... slave girls, cowry shells, dollars, gold/silver... nothing is stable, it changes dependent on what society deems is valuable. This I know, I have lost fiat today, a government concept that supposedly tells "me" what their expectation of value is. I am reminding myself, however, that I have NOT lost something of value. I believe we are at the point, as "Goldbugs" or Hard-money advocates, that conviction is what matters - we are in uncharted waters where you have to live and die by your conviction. Computers and governments manipulate the markets and this economic order is an abject failure in what matters - providing economic security and economic stability. Government is a failure, the published economy is a lie. I'm holding my physical gold and silver since I can at least count and depend on the OZ. I cannot believe much else I see, it's a sad but honest fact. 

Fishdog FFF
Nov 17, 2011 - 2:37pm

Get rich

Suggestion on how to play oil?? Watch Hyperdynamics (HDY) VERY CLOSELY for good news on their current drill turning from a drillship offshore Guinea. HDY is operator, owning over 70% of a HUGE offshore concession. According to the CEO, HDY is also on the cusp of making a deal that will "transform" the company. Low float with many institutions owning and fabulous management.

Biscuit
Nov 17, 2011 - 2:38pm
JackPutter
Nov 17, 2011 - 2:38pm

Mr Apocolypse's Walking Stick- MFG Fallout

This fro Zero Hedge;

https://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-...

"It is with regret and unflinching moral certainty that I announce that Barnhardt Capital Management has ceased operations. After six years of operating as an independent introducing brokerage, and eight years of employment as a broker before that, I found myself, this morning, for the first time since I was 20 years old, watching the futures and options markets open not as a participant, but as a mere spectator.

The reason for my decision to pull the plug was excruciatingly simple: I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not. And this goes not just for my clients, but for every futures and options account in the United States. The entire system has been utterly destroyed by the MF Global collapse. Given this sad reality, I could not in good conscience take one more step as a commodity broker, soliciting trades that I knew were unsafe or holding funds that I knew to be in jeopardy."

Velocity
Nov 17, 2011 - 2:38pm

Mods (modifications) of free speech

Would the Mod that sniped my post care to email me what his/her problemo is?

Telling Turd and the Turdites the truth, that they're directly funding this ongoing and worsening corruption, by paying taxes to the US Govt is not a problem however you guys spin it

Truth hurts I know ...snipping my post just delays growing up and wising up and the ultimate solution to all this bleeding heart whining

CBDooper
Nov 17, 2011 - 2:39pm

Barnhardt Capital Management Has Ceased Operations

The reason given is due to the MF Global fiasco.

https://barnhardt.biz/

Edit... Oops a few minutes late

Icarus
Nov 17, 2011 - 2:41pm

E mail address for CFTC Commissioners

Does anyone have the email address for our illustrious CFTC commissioners? I know Ted Butler posted them somewhere but I cannot find them. I wrote this short missive to a client who was upset this morning and I'd like to pass it along to the Mob Bosses at the CFTC.

Dave,

I figured out the scam.

Two weeks ago MF Global went bankrupt and stole 700 million dollars out of client accounts (which they gave to JP Morgan as collateral). MF Global was primarily a commodities futures broker. With them gone, the volume in the futures market (where the price of gold/silver is determined) went into the toilet. Lower volume means the market is a lot easier to manipulate by Morgan, but that's not the whole story.

The big issue is that everyone (other than the banks) who holds a futures contract is scared to death that they too might have the money in their accounts stolen the same way. That means that they will not roll over their contracts but that they will stand for delivery on Nov 22 and take delivery of the metal before their accounts get raided. Morgan can steal money in an account, they can't steal the money if it's buried in someone's backyard. All these people standing for delivery at the same time, will cause the COMEX (Commodity Futures Exchange) to default. They just don't have the metal in inventory. This would cause silver to go to $100 an ounce and absolutely bury Morgan with it's HUGE short position.

This is a full court press to get those futures holders to sell their positions now, instead of standing for delivery on Nov 22. And thus saving the corrupt COMEX and JP Morgan (who has 60% of all short positions) from bankruptcy, and the markets from the biggest scandal since the Teapot dome scandal.

Why do we play in this corrupt, illegal casino called the U.S.A?

Regards,

Icarus

zilverreiger
Nov 17, 2011 - 2:42pm

anne barnhardt quit

What kind of profit was her company making? I see theres systemic failure risk, but was that the only reason she quit?

Watcher
Nov 17, 2011 - 2:43pm

Great post

That post by Turd should be on ZHedge.

I went all physical last year and add silver on major dips. Problem is my local coin guy is outta silver right now.

Greg Hunter had this to say:

Gold would be the big beneficiary if the dollar declined, and Rickards’ top price for gold per ounce iswait for it–$44,552! That price is the absolute highest possibility. Rickards and others predict that in the next few years, America will go back on some sort of gold standard. Meaning, the dollar will be backed by gold,butRickards has stated on many occasions that there probably will not be a 100% gold backed U.S. dollar. Instead, Rickards contends it will be more in the neighborhood of 40%. If that is the case, then gold would be $17,821 per ounce using Rickards numbers. It appears gold prices are going much higher.

https://usawatchdog.com/it%e2%80%99s-all-about-gold-now/#more-6278

Paper running to dollars right now. Hang in there.

Stormdancer
Nov 17, 2011 - 2:44pm

jlrchrds

That fiat will eventually go to zero. But there's still no denying it hurts losing it before that time. ReachWest's littany keeps running through my mind

"The game is no longer playable"

I've always been on the conservative side of the fence. Bills paid and bank accounts cleaned out every payday for three years already.

MF Global has convinced me that was the right decision even though I was way earlier than necessary. They can do the same thing to bank accounts they did to MFG accounts. And they will if they think they can benefit from it.

PM's and other "real" stuff I can put under my own lock and key is all I'm interested in.

T
Nov 17, 2011 - 2:44pm

Down waves

I think we will see another replay of this down wave action next week or in the next 10 days.... and the next level of lows might be a target for buying select miners and metals. I like prices a little lower than this.

diegeiro
Nov 17, 2011 - 2:44pm

silver/gold price

I've noticed that pretty much whenever I have been ready to purchase physical the price has always gone down just after, with the exception of February of this year, when I was ready to buy silver at $24 but didn't get around to it til it was $27 and also when gold was under $1500 in the middle of the night in Aug? but I did not want to call a bottom then. The February purchase was my first, although I lost most of it in a boating accident this summer after my sailboat was hit by a tornado. I have actual pictures of the devastation. I think the webbots picked up on my search for a replacement boat late July/August as well. I loved that boat.

WineGuy
Nov 17, 2011 - 2:45pm

It's A Great Day ....

to go for a walk, go work out, go to a pub or whatever turns your crank. I choose the pub and I'll be there in two hours. Log off the web and relax. We all knew this day, these events were coming. The markets sure look like TSWHTF soon. When you're right SIT TIGHT. Option Expirary is the 22nd. The miners look FABULOUS here. Could they go down from here, absolutely. BUT I do know when QE3 is announced it will be MASSIVE and GLOBAL in scale. You will not be able to catch a ride if you get off the PM train now. The Wanker Bankers want the least amount of passengers as humanely and HFT possible. When you're right SIT TIGHT. 

GoldMania3000
Nov 17, 2011 - 2:48pm

The world is not ending

Fed's Dudley: 'Deeply unhappy' with job outlook

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