Irresistible Force vs. Immovable Object

280
Wed, Nov 14, 2012 - 3:44pm

I decided we need a new thread to discuss the obvious and blatant capping in gold which is occurring in the face of confirmed fundamentals.

First up, the charts. They need no further commentary.

And why is 1730-1740 so important? One look at the daily chart and it all comes into focus.

In the face of this nonsense, we have the confirmed fundamentals. First, just yesterday, The Fed announced and re-iterated its plans for QE∞, none of which should come as a surprise here in Turdville as I have been telling you all of this since September (for example, see here: https://www.tfmetalsreport.com/blog/4202/brass-tacks). Here is a news article with details: https://wallstreetexaminer.com/2012/11/13/fed-announces-it-will-buy-35-billion-in-mbs-reinvestment-program-in-next-month/ and here is the link from The Fed, itself: https://www.newyorkfed.org/markets/ambs/ambs_schedule.html. And, a little over an hour ago, we got the release of the FOMC minutes from late last month. No surprises here, either. Just a simple confirmation of everything we've been discussing. https://www.zerohedge.com/news/2012-11-14/fomc-minutes-show-fed-members-expect-more-unsterilized-monetization-after-twist-ends.

Of course, to The Cartel and their unwitting short-momo accomplices, none of this matters. All they see are threatened positions which must be defended at all costs. The eventuality of their destruction matters little so long as they can win just one more day and share one more evening of laughs at Cheetahs.

Anyway, fear not. Laugh at their pettiness and greed. They will, most assuredly, be overrun soon and each additional short they supply now will only add fuel to the squeezing fire that is about to consume them.

With all attendant scorn and ridicule: "You don't frighten us you New York Pig-Dogs. I blow my nose at your so-called Wicked Witch and I fart in your general direction. Your mothers were hamsters and your fathers smelt of Elderberries."

TF

Monty Python and the Holy Grail - The Insulting Frenchman

p.s. Silver is showing great resilience and looks poised to make a run to and through $33 very soon. It's next, obvious resistance point is near $33.30 where it will encounter both horizontal resistance and its 50-DMA.

p.p.s. Fetchez la vache!

10:15 am EDT UPDATE:

If you're wondering what the hell just happened, it was this: I was texting with our friend, Andy, at the time and he noticed one, single dump of 25,000 gold contracts. That is the paper equivalent of 77 metric tonnes of gold, roughly the total amount of reported holdings of Australia or Kuwait! This is blatant manipulation as every honest market participant seeks to always receive the most efficient execution.

This wholesale dumping of 25,000 contracts is disgusting and deliberately manipulative. These criminals know no boundary and have an obvious contempt for law and regulation. My sincere hope is to one day soon expose them for the lying, thieving bastards they are. Until then, just buy the freaking dip.

About the Author

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

  280 Comments

wildstylechef
Nov 14, 2012 - 3:50pm

second!!!!!!!!!!!!!!!

And awayy we go !

When they $%$# are they going to actually do something that they promise to do?

Politicians a bunch of worthless tungston's

How about first off they start spending some of that promised QE3

vonburpenstein
Nov 14, 2012 - 3:50pm

First

Just sitting here waiting to get paid at a closing, to pass some time I turn on the Turd and bOOM! First! Probably second by now, possibly third...lucky day

Marcus
Nov 14, 2012 - 3:54pm

The pig

Turd, old buddy, please stop referring to the US dollar index as "the pig". It's an insult to all of us real pigs (just kidding you, I love the attention!).

RRJJ
Nov 14, 2012 - 3:54pm

First first

First first.

Here's to seeing silver above $33 by Friday at the latest.

Expired_Elder_of_Zion
Nov 14, 2012 - 3:56pm

A joke.. ENJOY

Here's a joke I got from a friend.. enjoy

Depressed

Over five thousand years ago, Moses said to the children of Israel ,
"Pick up your shovels, mount your asses and camels, and I will lead
you to the Promised Land."

Nearly 75 years ago, (when Welfare was introduced) Roosevelt said,
"Lay down your shovels, sit on your asses, and light up a Camel, this
is the Promised Land."

Today, Congress has stolen your shovel, taxed your asses, raised the
price of Camels and mortgaged the Promised Land!

I was so depressed last night thinking about Health Care Plans, the
economy, the wars, lost jobs, savings, Social Security, retirement
funds, etc .... I called a Suicide Hotline.

I had to press 1 for English.

I was connected to a call center in Pakistan . I told them I was suicidal.

They got excited and asked if I could drive a truck......
Groaner
Nov 14, 2012 - 4:04pm

How many think with the slam on the metal stocks that

bullion is going to get butchered tomorrow??.. see what Harvey thinks. He sometimes calls it.

RaulP
Nov 14, 2012 - 4:04pm
Big Buffalo
Nov 14, 2012 - 4:07pm

markets

dow going to shit.

looking to get out on bounces.

tired of this government crap.

fiscal cliff will happen.

debt limit will be hit.

it will be raised last minute, until then, everything is fubar.

my guess : dow will lose another 1000 points before the end of the year

Mammoth
Nov 14, 2012 - 4:13pm

A Cure for Depression

Expired Elder mentioned depression. When you get depressed, one way to cheer yourself up is by looking at all the beautiful ladies in your life. First, open up your Silver stash to gaze on the beautiful Miss Walking Liberty.

Then you look at the lovely woman on the Morgan Dollar. If you are looking for some kinky cheer, then admire the lady with the wings on her head, pictured on the Mercury Dime. Still feeling bummed out - perhaps because of all the wars & fighting going on? Then it's time to pull out your Peace Dollars and admire the lady pictured on the obverse.

But I would be remiss if I did not invite you to put your blues away, once and for all, by opening your Gold stash and smiling at the stunning beauty pictured on the American Eagles & St. Gaudens Double Eagles.

What - your PM investments are all paper?

Now - THAT is Depressing!

Silverbugs
Nov 14, 2012 - 4:16pm

The shorts will be overrun.

The shorts will be overrun. They are setting a huge trap for themselves. This is going to blow up in there faces sooner or later. Until then I don't stress. I just take advantage of the discounted prices.

https://schiffblog.blogspot.ca/

Key Economic Events Week of 11/18

11/19 8:30 ET Housing Starts & Bldg Perms
11/20 2:00 ET October FOMC minutes
11/21 8:30 ET Philly Fed
11/21 10:00 ET Existing Home Sales
11/22 9:45 ET Markit November Flash PMIs

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 11/18

11/19 8:30 ET Housing Starts & Bldg Perms
11/20 2:00 ET October FOMC minutes
11/21 8:30 ET Philly Fed
11/21 10:00 ET Existing Home Sales
11/22 9:45 ET Markit November Flash PMIs

Key Economic Events Week of 11/11

11/12 Three Fed Goon speeches
11/13 8:30 ET CPI
11/13 11:00 ET CGP on Capitol Hill
11/14 8:30 ET PPI
11/14 Four Fed Goon speeches
11/14 10:00 ET CGP on Capitol Hill
11/15 8:30 ET Retail Sales
11/15 8:30 ET Empire State Manu Index
11/15 9:15 ET Cap Ute and Ind Prod
11/15 10:00 ET Business Inventories

Key Economic Events Week of 11/4

11/4 10:00 ET Factory Orders
11/5 9:45 ET Markit Services PMI
11/5 10:00 ET ISM Services PMI
11/6 8:30 ET Productivity & Labor Costs
11/6 Speeches by Goons Williams, Harker and Evans
11/8 10:00 ET Consumer Sentiment
11/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 10/28

10/30 8:30 ET Q3 GDP first guess
10/30 2:00 ET FOMC fedlines
10/30 2:30 ET CGP presser
10/31 8:30 ET Personal Income & Spending
10/31 8:30 ET Core Inflation
10/31 9:45 ET Chicago PMI
11/1 8:30 ET BLSBS
11/1 9:45 ET Markit Manu PMI
1/1 10:00 ET ISM Manu PMI

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

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

Forum Discussion

by Green Lantern, 4 hours 5 min ago
by zman, 5 hours 22 min ago
by NW VIEW, 9 hours 8 min ago
by CongAu, 9 hours 33 min ago
randomness