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

Irish-Mic
Jun 8, 2012 - 2:27pm

Saturday Fizz

Some speculation abounds about possible weekend developments/news that'll affect the metals. Don't forget about the beauty of Saturday buys in this situation, assuming you are fortunate enough to have a dealer in your area that sells Saturday Fizz based on Friday's closing spot. Not saying something will happen this weekend, but if it does, you can capitalize. Last time I did this effectively was the U.S. downgrade. In any event, if you are fortunate enough to have such a dealer near you, and are on the fence about buying more today, there's always Saturday. As an added bonus, you can even check the Indian metals market on Saturday before your buy (they are open Saturday, albeit on a shortened trading day).

Cheers, and Happy Weekend to all you glorious Turdites.

tyberious
Jun 8, 2012 - 2:28pm

Speaking Of

https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/8_Lo...

“What happened yesterday in the gold market was very interesting. One full hour before Bernanke's testimony, the bullion banks started selling. Over the next 4 hours, the bullion banks sold the equivalent of 515 metric tons of paper gold. This was in just 4 hours, and again, the selling started one hour before Bernanke’s testimony.

The selling went on for another 3 hours after the Fed Chairman began to speak, and as I said, over 515 metric tons of paper gold was sold. During this entire takedown, there was zero physical gold available for sale in the market. However, this action did create tremendous supply for the Eastern buyers to lock in the spot price of gold. This will patiently be converted to physical in the coming weeks. The real question here is, how could an entity begin selling such a massive amount of paper gold when there hadn’t been any news (starting to sell before Bernanke's testimony)?

During this coordinated attack on gold, hedge funds and managed money were being forced out of their paper positions. A large wave of selling entered the paper gold market and traders saw the price of gold drop $40 in a matter of minutes. So the action was orchestrated by the Fed, and Fed-speak was used to assist in the takedown".

treefrog
Jun 8, 2012 - 2:30pm
The8thHabit
Jun 8, 2012 - 2:44pm
SilverWealth
Jun 8, 2012 - 2:49pm

manipulation

when the waterfalls happen they seem simply just to conspire in pulling all the bids until an agreed upon level much lower.

the attacks seem to happen most frequently in the thin hours of trading when few are around. After all this time I am surprised that the culprits who are actually executing the trades for the monopoly banks in the wee hours have not been identified. Surely they drink in bars around Manhattan and brag weekly about their exploits. Why can't somebody get a wire on a few of these criminals and then release the names and their employers? Probably just too much too ask.

They will need to be known. There is no law and no regulation and relying on a corrupt system to put an end to any of this is a contradiction.

Lanikai
Jun 8, 2012 - 2:50pm

Dr. G thanks for clarification on Ranting Andy

he sold his mining stocks after years of short raiding and Toronto exchange's failed regulation of manipulation, and he is 100% in physical Au and Ag. I continue to keep my mining portfolio and currently in process of switching it from Fidelity and TdAmeritrade to Sprott Global and ready to get out when the time it ripe. Thanks to this site I feel confident we'll have some clue.

croc987
Jun 8, 2012 - 2:51pm

Rand Paul endorsement of Romney

Agree with previous post, I wonder if there has not been a backroom deal to make Rand the VP candidate to prevent Paul supporters from disrupting the convention . . . Rand as VP and heir presumptive, or possibly Treasury secretary.

Plus Romney is hardly whipping up much enthusiasm, he needs the Ron Paul vote.

A Ron Paul supporter at the state republican convention here in LA was arrested for refusing to go along with the appointment of Romney supporters as chairman and vice chairman of the convention.

https://www.shreveporttimes.com/article/20120604/NEWS03/206040316/Blotter-Man-cited-Republican-state-convention

Cipher
Jun 8, 2012 - 2:52pm

Rand showed his hand

Just remember a double minded man is unstable in all his ways. Do water and oil suddenly mix? Dont look now Rand but your fruit just turned sour, as we will know the tree by its fruit. Just sayin.

Cipher

Cipher
Jun 8, 2012 - 2:54pm

Do you actually think that

Do you actually think that Rand took this action without the pre-approval of his Dad? Seriously?

KcapCipher
Jun 8, 2012 - 2:55pm

@cipher

Don't judge it yet. I think there's way more here than meets the eye. Hang in....I truly believe something mind-blowing could come of this.

Kcap

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