Repulsion Revulsion

Fri, Apr 20, 2012 - 10:03am

As the paper price of precious metal continues to be suppressed and capped, I'm finding it difficult to find the inspiration for a comprehensive new post. So, while we watch gold continue to be capped below $1650 and silver held under $32, I thought I would pass along this terrific history of central bank price suppression admission.

I've got to hand it to Ranting Andy. The guy knows his stuff and he wears his heart on his sleeve. Sometimes you can almost feel his anger coming through the screen. It's great. He's passionate and determined and we need his energy in this fight against The Cartels. He and I are going to record another podcast next week so, if you're not familiar with his daily email newsletter, be sure to listen in next weekend. In the meantime, I'm going to reprint below some of his report from yesterday.

We all know about the price manipulation of gold and silver. Incredibly, there are lots of folks out there that deny this manipulation, even though many of these same folks are quick to admit the manipulation of the exponentially-larger equity, Forex and treasury markets. Yesterday, Andy laid out a succinct chronology of central bank gold manipulation statements, going all of the way back to the Gold Reserve Act of 1934. I strongly suggest that you retain this information somehow. Maybe print it off. Memorize it and pass it along to your internet friends who haven't seen the light. Thanks, Andy. Great work!

Thursday Morning Commentary 4/19/2012

This morning, I am ANGRY, as ANGRY as at any time in my career - for MANY reasons.

I have already been at my wit's end watching six weeks of the most blatant, heavy-handed, mocking Cartel suppression in ten years - actually, my 10-year PM anniversary is next month - not to mention fending off the vultures that continually state no such manipulation exists. Essentially EVERY global market - stocks, bonds, commodities, and currencies - is not only "managed," but done so OVERTLY. Yet, the tiny, easily "managed" PM markets are not?

After 10-years of presenting EVIDENCE, ADMISSIONS, and COMMON SENSE from watching on a daily basis - not to mention, the presence of a secretive U.S. agency mandated with gold manipulation - the Exchange Stabilization Fund - even traitors within our camp constantly attack us, the worst kind of sociopathicvipers imaginable. Amongst the REAMS of PROOF I have given over the years is the actual MISSION STATEMENT of the "ESF":

The U.S. Exchange Stabilization Fund was established at the Treasury Department by a provision in the Gold Reserve Act of January 31, 1934. The fund began operations in April 1934, financed by $2 billion of the $2.8 billion paper profit the government realized from raising the price of gold to $35 an ounce from $20.67. The act authorized the ESF to use its capital to deal in gold and foreign exchange to stabilize the exchange value of the dollar. The ESF as originally designed was part of the executive branch not subject to legislative oversight.

As well as the Bank of International Settlements (BIS), i.e. the "Central Bank's central bank," which through its Director - William White - in 2005 stated the following:

Among the five objectives of central bank cooperation are "the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful.

Which is EXACTLY what they did on December 8th, 2011 - the commencement of "OPERATION PM ANNIHILATION II" - when gold was about to take out Jim Sinclair's "heralded" $1764 "Angel" following a surprise ECB rate cut...

MNI Reports Coordinated Central Bank Intervention Sends Gold Lower Intraday

...SMASHING gold with the help of "the Federal Reserve and Bank of England," the latter of which sold nearly all its gold at the BOTTOM of the market in 2000.

Then you have Fed Chairman Alan Greenspan's comment before a Senate committee on July 30, 1998, "Central banks stand ready to lease gold in increasing quantities should the price rise." And former Fed Chairman Paul Volcker, writing of the events of February 12, 1973:

That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.

Not to mention the Reserve Bank of Australia, whose 2003 Annual Report, states, "Gold reserves are held primarily for intervention in foreign exchange markets."

Or in 2002, when Barrick Gold was sued for illegally suppressing the gold price, it admitted it was involved in "hedging," but filed to dismiss the case under Federal Rule of Civil Procedure 19 (b), stating that if a necessary person cannot be made a party to a lawsuit, the court may determine the action "should be dismissed, the absent person being thus regarded as indispensable."

In other words, it was acting on behalf of the ULTIMATE "indispensable person" - the Federal Reserve - and thus, should also enjoy the protection of Sovereign Immunity! By the way, the motion was denied, and Barrick ultimately settled out of court. Yes, they are working for "indispensable persons," just as JP Morgan is selling billions of ounces of PAPER gold for "clients."

And how about the Grand Daddy of them all, from Eddie George - governor of the Bank of England - in September 1999 following gold's spike (and subsequent plunge) after the initial announcement of the Washington Agreement, limiting Central Bank gold sales:

We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake.

Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.

And finally, the most smoking gun PROOF possible, which no "admission" is required to understand. On September 6th, 2011, hours after the end of the Labor Day weekend, and five minutes before one of the most gold bullish events of the past decade - the Swiss National Bank devaluing the Franc 9%, pegging it to the dying Euro - gold PLUNGED $50/oz from its ALL-TIME HIGH in a matter ofminutes...

...launching the most blatant Cartel attack ("OPERATION PM ANNIHILATION I") since the May 1st, 2011 "SUNDAY NIGHT PAPER SILVER MASSACRE."

If you want to DEBATE ME PUBLICLY - at ANY TIME, at ANY PLACE, in ANY FORUM - then come on, "MAKE MY DAY."


To his point at the end: I would PAY to see Andy debate a weasel like Christian or some other disinformation agent. Not only would Andy win the debate, he'd likely end up tearing his opponent limb-from-limb in some type of macabre performance art. How can we make this happen? Soon!!

Anyway, if you'd like to receive Andy's free daily emails, simply click the link below ands sign up.

Again, the metals are stuck here and look like they will be most of the day. However, as mentioned yesterday, today's CoT should be very interesting so check back for a new thread that discusses the report later today.

Keep the faith and hang in there, TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 20, 2012 - 10:04am

Can it be that I am FIRST???

Can it be that I am FIRST???

Apr 20, 2012 - 10:06am


First...turd then

Apr 20, 2012 - 10:06am

own it

own it

edit: dOOd that was close...enjoy the VIP w/ mrF today. kate N me weLL stay busy.peace

Apr 20, 2012 - 10:13am

on friday mornings for the past few months

i wonder about what kind of "big" news item will be released after the close. any guesses?

Apr 20, 2012 - 10:14am
Apr 20, 2012 - 10:19am

Andy Hoffman

I know Andy Hoffman personally and he is a very smart guy! If you don't subscribe to his daily emails you definitely should. Also, if you are looking at increasing your physical holdings you should look into Miles Franklin, because that is who he works for. You can repay him for all that he does for us "average joe's".

Apr 20, 2012 - 10:31am

Yep....Same Sh*t, Different Day

Hi all - still alive and still lurking. Will be back soon...maybe, but this thread's lead by Ranting Andy gives me no reason for daily participation.

When all the smart people are wrong on their predictions and angry in their outlook, what's left to do? Just one note - A call by Davies back in January was for gold at 2109 and silver at 40 by now. And he's no slouch, right?

We are at the mercy of evil men at the moment and I think only some very stupid moves by Iran and very smart moves by China will get the PM market back to something like normal.

I wait for those events and I keep reading Santa for entertainment.

Apr 20, 2012 - 10:31am

Can I put a message here for

Can I put a message here for no particular reason and get the most hat tips of the day?

Apr 20, 2012 - 10:31am
Roger Godberd
Apr 20, 2012 - 10:32am


Excellent post from Turd/Ranting Andy....seems all we can do is stack on the dips.

Fact is we know it happens but the main issue is that Joe Public does not nor understand the significance. It is hard enough trying to get them to understand how inflation & negative interest rates are stealing from right under their noses. They know all about rising prices, but do not make the link that it their government defaulting/stealing their purchasing power & destroying their fiat in the process. As for buying the phys, well "extreme" I think is their opinion of my views.

I was thinking earlier of an allegorical picture of the Crimex, seems the banksters are like a beached (London) whale and the tide is slowly going out. This will undoubtedly kill the whale but the govt are there trying to refloat it & keep it alive, but essentially it is a lost cause.

What happens when JPM & Crimex destroy the paper game? We can already see signs of it it now with decreasing volumes, people are sick of the whiplash (what was that joke about traders taking court action against Heli Ben for whiplash?!), what will be left when WOPR gets to play on it's lonesome? Will it be phys buying & selling in the pit, with the retail contribution on the side, or game over for fiat and then defend your stash with all endeavour?

Anyways, we have to keep informing and spreading the message that the only way is getting physical.

TFI Friday...

Apr 20, 2012 - 10:32am

Nice to see you, cpn

Hang in there and have a nice weekend.

Apr 20, 2012 - 10:35am


Is there any reason to believe the central banks will ever allow gold/silver to move like it wants to? What is to prevent them from manipulating prices for ever? I guess when they run out of gold the game is over for them. I know they want to discourage gold bulls like me. During moments of weakness I think about throwing in the towel, but I am remaining strong for now. I am surprised they ever let gold rise to 1600.

Apr 20, 2012 - 10:35am

FOMC next week

just sayin

Apr 20, 2012 - 10:36am

This is stuck in my mind today

Was a BIG sound back in 1985 when The Turd was just 19. Pay attention to the lyric. Also notice the fantastic rhythm of the great Kenny Aronoff, the world's greatest drummer.

John Cougar Mellencamp - Justice and Independence
Apr 20, 2012 - 10:37am

Andy would wipe the floor with Christian

Bill Murphy can't hold a candle to Andy in a manipulation debate. It's a shame he's the spokesman for GATA. I know he's done great work, but he shouldn't be the front man. Unfortunately, the same can be said for Ron Paul. He's better at generating new ideas, than he is at defending them. GATA needs a speaker with charisma!

Apr 20, 2012 - 10:38am

worldend, I would hat tip you again

but my laptop is on the fritz. For those of you who didn't know, you can hat tip twice using your laptop and desktop. Simply log in to one and be guest status on the other.

Apr 20, 2012 - 10:45am


...for the update.

Just got back from fishing early this a.m. Landed two rainbows, had another one shake off.

One hen about 7# and a nice buck, solid 12# (32 inches). Great way to start the day!

I released both fish

maravich44 TF
Apr 20, 2012 - 10:51am

@Turd...Authority Song..

how I feel. ...J. Mellencamp... John.,,

Apr 20, 2012 - 10:52am


This month's de-motivational calendar pic. Calendar was purchased on, great site....

Apr 20, 2012 - 10:56am

Who Cares

I echo CPN's sentiment. BTW, sending this article or any other fabulous informative gems of information that may help people in the tumultuous times ahead is an exercise in futility. Its not like throwing a bucket of water on someone because they are lazy and wont get up. They have to want to want to wake up and change, and those individuals are few and far between. Anyhow, SGT, Brother John and Chris Duane had an excellent Round Table discussion yesterday on the problems and solutions of this exact topic for anyone who hasn't listened to it, it is excellent.


Apr 20, 2012 - 11:00am


And never forget that PMs are a hedge. Spiritual wellbeing, health, communityand family are the real wealth. Trust and truth are the currencies that never lose their value.

Max Keiser recently reported on the situation in Somalia. They still use shillings issued by a central bank that has ceased to exist. The currency operates because there is a level of trust in it. The clans play fair, because they understand that the only value in their currency is the fact that it is a unit of exchange, and for it to function, people have to trust it.

The Somalians have much to teach us.

Apr 20, 2012 - 11:03am

I like James Turk

As it's a slow day I thought I would come out of the closet. Yes Turk, Davies and others who go on KWN month after month with short term targets should keep their prognostications to themselves as it does look like talking their books. It does lessen their credibility. But in the overall scheme of things they are on the same wavelength as most here and read the writing on the wall as clearly as Turd does.

Turk and GATA are out there trying to educate a lot of folk and I think Turk does a pretty good job of communicating the issues in a sober way (not saying you do it drunk, Turd, though who knows ;). Ranting Andy has a different style and will connect with different people than the bank manager persona of Turk.

I agree that GATA need another front man.

Apr 20, 2012 - 11:04am

paulindoon - first and last!

I saw you also posted new thread, and wanted to give you a hearty pat on the back! (And it is nice to see you around - had you also gone into hibernation?)

cpn - you are missed, but I am sure the trains and the wonder cat are happy to have your attention.

My normal sanguine self is somewhat concerned about the IMF/WorldBank/G-20 meetings all happening on the same weekend in the same place. Something is going to be announced on Monday morning. If the US actually agrees to give 50 billion (currently peanuts it seems) to this fund, then the Euro will bounce at the USD expense. I used to think that the US gov't would want a weaker dollar - but if they are trying to hide QE, are they trying to keep the dollar strong? I now think that perhaps the situation has gotten so far out of hand that it is now simply a question of constant effort to keep things as they are right now - not because it is ideal, but because any wobble out of the range will be catastrophic. When you take the charts out to all data, it really looks like someone desperately trying to hold something still that is vibrating. Now I don't believe in one 'someone', but I certainly believe in central bankers - and when they all get together, something is up - and the public statements do not console me. One more desperate attempt at public QE before the election, and before the debt ceiling is reached, and to keep this fake but reported 'recovery' going and save Europe all at once?

But more and more one must believe that the fat tail that is coming is going to be spectacular - mathematics is very unemotional about these things.

Apr 20, 2012 - 11:07am

The SMASH is coming

Isn't it obvious that the smash in Precious Metals is coming? They are holding it below resistance and just above support. With the first down draft of selling coming this spring they will smash it down. Heck they won't even have to do it, the momentum of the selling in the market will take it down by itself.

I'm LONG silver and gold and miners. But that's my feeling. I'm holding through it.

Apr 20, 2012 - 11:16am

Excalibur and tsos20

Yes to all points, really. James Turk has a soft and gentle approach, and his understanding of the market seems excellent - I find most predictions that call for a specific date/price in the far future silly, but a general trend? Of course. But Gata really could use a new front man - they do such excellent work but have such a low profile. And I was terribly disappointed in that much publicized debate. It is sad that Ron Paul is too old for the cameras - and the smear job done on him was highly effective on the younger generation - at least the ones I know - they all just tell me he is a racist - and then the whole conversation gets derailed. You know, how Herman Cain was a womanizer, but Clinton was a great president - and then my head catches fire.

The Euro has taken a happy bounce. I wonder if gold might follow? As measured in USD anyway.

Apr 20, 2012 - 11:25am

Platinum Investor

First, I must say, I am jealous of your cyber name. A tiny amount of platinum has sunk in the seas on our travels, and I always want more (I am a girl, what can I say).

But no, I do not feel a crash coming, not in the price of silver and gold, anyhow. I think we have been held in an equilibrium that is allowing the can to be kicked, and it is about to lurch to another holding area. But I am also think we are at a bottom, because I am convinced that the money printing will continue for possible years, before this old currency finally crumbles, and that without it, disaster will be upon us. So I think a stair upwards is coming.*

*But don't use your credit card to invest based on anything I, or anyone, even Mouse, says. Does this caveat really need to be stated?

Apr 20, 2012 - 11:28am

I'm absolutely shocked...

... after I went to look in my local coin store for some gold and silver but they had none. So I went online and all the big dealers, Gainesville, Apmex, Blanchard are totally out of gold and silver! OK, of course I'm fibbing. But at what price does that happen again? My belief is it will be at a much lower price than today.

Meanwhile the cartel is getting ready to relieve Syria of its gold and dump it on the market. (i.e. Libya redux). So I've got that to look forward to, timed exactly for early summertime.

Eric Original
Apr 20, 2012 - 11:34am

Facing Facts

The miners just ain't going anywhere until we get the next upward move in bullion. That's just the way it is. Until that comes, interest in the sector just keeps bleeding away.

We can sit here and say "My miner is making great money." "My miner is building a great mine." "My miner is working on a great discovery." "My miner is ripe for a great buyout." But until we get some push from bullion, none of that means squat. :(

So, here we sit...and wait...

Apr 20, 2012 - 11:37am

Not picking on you, Indigo 7 !

Ernest Hemingway always said that if you handle a live disturbs the anti-bacterial protective mucous on their scales....and that they go belly up later when you're not looking ? His solution was to hasten their demise in a frying pan greased with bacon fat ! That was before the days of Colloidal Silver Trout Pre-Release Lotion ! Monedas 1929 Comedy Jihad Northern Michigan Fishing Trip

maravich44 George Clooney
Apr 20, 2012 - 11:41am

@XTY.... another times forgotten space, your eyes looked at


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