The Last, Desperate Acts

621
Fri, Jun 8, 2012 - 12:56pm

The foolish, self-destructive Bullion Banking Cartel continues to crush and manipulate the price of paper metal. Their arrogance will be their undoing.

First things first. As you all know by now, paper price was crushed last night/earlier today. $23 was taken out in under a minute. This was nothing but regular, Cartel price manipulation where bids are pulled coincident to sell orders being placed. As usual, they got away with it. This time, however, we were watching and two, separate Turdites caught them in the act. Here is a C&P of an email I received last evening at 10:50 EDT, 30 minutes after the "event".

Turd,
I was watching gold sell off tonight, wondering how low it would go. Then I saw the spike down. On my depth of market order entry application (NinjaTrader), there was absolutely no bids or ask in the system. So I placed a limit order quickly at 1567. There was a long pause, but then my screens came back to life and suddenly the price slipped all the way down to 1556. I was pissed because I thought I was filled at 1567, but my long of 6 /GC contracts was filled at the absolute bottom 1556.4.
This almost conclusively proves to me that liquidity (bids) was purposely removed. How did I get filled at the absolute bottom?
Regardless to the inner workings of the access market, somebody dumped 1750 contracts in a market order, all at once. Same bullshit as always but this time I am getting even with these bastards.
I can prove that my order was filled at 1556.4 if you are interested.

Corroborating this was a second email I received a couple of hours later:

Hello Turd, I too was trading tonight when the bomb was dropped. I usually find the late evening hours from 8pm ET to around 11pm not too bad for trading,.....the volume usually is light and trading slow.........but tonight felt different.......I watch the Euro and the Yen and the Yen was catching some bids and moving on up........I am a one contract trader and just trade for a few dollars either way........I stopped myself out of a long at 1580.20 in the Aug gold and walked away from the computer.....when I came back a few minutes later I could not believe what I saw.......the volume for those 2 minutes if I remember was around 1800 contracts..........it usually won't trade that amount in 6 hours at night........they were gunning for the lows on the chart around 1579 and took them out with a vengeance..........this is not hedge funds trading in the middle of the night nor the small speculator......this was a coordinated massacre and the collateral damage was any long specs whose stops slipped by 5 or 10 dollars at least...........after the initial rebound rally, the market was so thin and quiet for the next 35 or 45 minutes.....most were shellshocked, if not broke, and there were no players left........I am done ranting..........and I think I will stick to trading the ES futures from here out..........and to those knuckleheads who say there is no manipulation in the metals markets, I say...........keep their heads in the sand......that way we won't hear as well what they are saying.

In the end, it's as if the entire bid/ask system was momentarily shut off. Into that void, a massive order was dumped for maximum effect and damage. A momentary, deliberate "flash crash" designed to game and flush any unsuspecting buy stops. It's deliberate, overt manipulation but it is sadly, for now, the way the game is played.

That game is changing but the blind arrogance of The Cartels keeps them from seeing it. Once again today, massive physical demand appeared in London. The Cartels selfishly crush paper price in order to game and manipulate the speculative managed money. They squeezed the shorts a week ago. They crushed the longs yesterday. The Masters of Disaster think they are playing this game and avoiding long-term consequences. As stated above, their arrogance will be their undoing.

Earlier this week, I wrote about the coming shift in the global trade settlement structure. If you haven't read this yet, please do so now ( https://www.tfmetalsreport.com/blog/3866/dot-connecting). The metal that is flowing out of London toward points East will be the basis of this new system. All metal used to back this new system is effectively removed from the global stage. As this transpires, physical metal will become increasingly scarce. Without physical metal to back the highly leveraged paper, the entire LBMA will collapse and, with it, The Comex. The LBMA and Comex collapsing will directly effect the solvency of the Bullion Banks and a new global paradigm will emerge.

Again, your only personal financial protection from this historic chain of events is the purchase and acquisition of physical precious metal, preferably gold but silver, too. (Though likely included within the new trade settlement structure, I expect silver to soar due to its own set of fundamentals.)

Please, I urge you to immediately consider whether or not you own enough physical metal.

Think.

Look around.

Trust your instincts.

Act.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  621 Comments

agNau
Jun 8, 2012 - 1:00pm

Metals not water falling below recent lows.

I believe Willie's buyers keep us propped.

FleetFeet
Jun 8, 2012 - 1:01pm

Slooooowwwww . . . .

At least you are still on the air. Seemed for a while there that the EE was striking a day late.

But no, the signal is still coming through; just that the Turd's words are now being beamed from Uranus!

Jasper16
Jun 8, 2012 - 1:03pm

Second

So Rand sold us out. First Ross Perot and now Rand and Paul.

It's time we crossed the Delaware river and on to Trenton with silver and gold.

alphamorph
Jun 8, 2012 - 1:07pm

Smitten or bitten

  • So.... we're no longer anticipating another slam this morning as a continuance of yesterdays double dipammy? I'm not convinced.
alphamorph
Jun 8, 2012 - 1:09pm

what is it?

A dipammy is something between a whammy and a debacle.

LaMachinna
Jun 8, 2012 - 1:10pm

Great Post, Turd

Thanks for all you do!

Groaner
Jun 8, 2012 - 1:10pm

We need Andy Hoffman to do some Screaming here!

The Fabric of the ruling class is just Plain Wicked to allow this! Criminals is too nice of a word for them

SV
Jun 8, 2012 - 1:11pm

Overnight Attack, but the SLA means Business!

The News Wires Are Quiet This Morning as AU and AG Move Sideways....

A Scramble to Cover All Bases in Propaganda Land When The Big Upside Returns?

https://silvervigilante.com

alphamorph
Jun 8, 2012 - 1:12pm

or a typo

:>)

Dr G
Jun 8, 2012 - 1:12pm

I'll Have Another is out for

I'll Have Another is out for tomorrow. Sad.

But back to the matter's at hand. Turd, yesterday you advised us to hold 20% of our assets in physical metal. I think that number is actually too low, but I suppose it is for each to analyze. I don't know what % is truly appropriate, but I like something approaching 40-50% at a minimum. I'm in roughly 65% at this point.

The Cartel, or whoever you believe has their hand in every cookie jar, has really created a mess for themselves. As they lower the paper price buying simply increases due to the lower price. For the life of me I can't figure out why they don't just stay out of it and let things run their natural course. I suppose that would lead to $5,000+ gold and that would be problematic. I also believe they enjoy shorting on the dips and then going long on the bounce and making money on both ends. Who can blame them.

Subscribe or login to read all comments.

Contribute

Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Recent Comments

by NUGTCALL, 16 min 21 sec ago
by MoonShiv, 43 min 25 sec ago
by H8Fiat, 43 min 31 sec ago
by NUGTCALL, 46 min 4 sec ago
by NW VIEW, 1 hour 3 min ago
by RickshawETF, 1 hour 15 min ago

Forum Discussion

by Green Lantern, 1 hour 4 min ago
by HappyNow, 5 hours 41 min ago
by HappyNow, 8 hours 7 min ago
by ancientmoney, 10 hours 1 min ago
by argentus maximus, 10 hours 26 min ago
by atarangi, 13 hours 36 min ago
randomness