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...


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