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.

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  280 Comments

Larry
Nov 14, 2012 - 8:13pm

Motley fool

I’ve been following along these threads and therefore couldn’t miss your ample postings of theories, arguments and promotions of the Freegold theory and one of your latest... how the world works. You make articulate and copious points… with a verbosity that seems to seek suspension of disbelief and overwhelm with detail. Your rapid fire, instantaneous responses directed at multiple denizens, simultaneously at that, remind me of another that used to ply his trade and voice opinions here in a similar fashion. He went by the handle of Victor.

That’s fine. All are welcomed here. It’s a free country and pretty much a free website. But I have to say, you seem to have an agenda beyond what you present here in Turdville. Possible blog habits of attention seeking aside (and all benefit of doubt is given here), I sincerely ask: what is your point and your goal here? Really… I want to know.

Do you want to weave a complex, intellectual macramé that aims to lead us to the Freegold solution of financial salvation? Do you want us to discount or run away from silver as an also ran due to your own bias? Or do you have a job to do? Pray tell. But please make it simple for me, as I am but a simple man.

While at it, please let me know why you use as your moniker a name that is the same exact name as a well known investment news company and website. Are you one of the Gardner brothers or do you just take free license with their name?

No disrespect intended. Only questions. Pointed questions.

brokerk22
Nov 14, 2012 - 8:18pm

@turd

So we got two 30% smashes the last time comex has this much OI. So do you now think we could get a 30% smash in metal prices now. Confused as to your thinking.

Titus Andronicus
Nov 14, 2012 - 8:19pm

Will Texas Nullify Both NDAA and TSA?

The success of any kind of state secession seems almost silly to me. This country already had that argument, and short of another Civil War, that has been put to rest (for better or for worse).

Prior to the Civil War, even Andrew Jackson (the arch enemy of the foreign bankers) threatened to hang anyone who tried to prevent federal troops from implementing federal law in South Carolina (1928, "Tariffs of Abomination").

But I applaud this effort in the Texas legislature to pass state laws nullifying federal "laws" which are in obvious violation of the real federal law (i.e. the US Constitution).

https://tenthamendmentcenter.com/2012/11/13/will-texas-nullify-both-ndaa...

I'll keep my eye on this one.

If you ask me, this is the real way to battle the illegal "laws" being passed by Congress. If enough states did this, it would really help to make broadly recognized the ridiculous illegality of Washington's action.

philipat
Nov 14, 2012 - 8:21pm

@HG on Ron Paul

IMHO the MSM understand Ron Paul's message VERY well. It terrifies their Oligarchic owners who are an integral part of the United Corporatocracy of America (aka The USofA or the United States of Fascist America). Hence he is avoided like the plague. Isn't it interesting that it takes a Russian network (RT) to provide the only discussion of the real issues facing The US??

AgAuthaChristie
Nov 14, 2012 - 8:22pm

@ Bag of Gold

So images commonly used to mock Black people just happened - entirely coincidentally - to appear on your "Obama" money and you claim they were placed there in an entirely different context. LOL!

I wonder what the odds of 1. making the odd choice of placing these images on your "Bills" and 2. Having all those choices just happen to be racially stereotypical.

Actually, I don't wonder.

There is no other "context". Can you explain to me what other reason there might be for the Watermelon and the fried chicken and the Koolaid? I dont think you can convincingly do this.

We have so many problems in this country why do we have to include something as ugly as racial animosity? You dont have to be "miss proper" to wish this ugliness didnt exist and the number of posts I have on this forum has simply nothing to do with it.

There is only one way for you to get me to "STFU" and thats for you to stop with the ignorant racial crap. Then I will happily go back to only posting once in a blue moon.

The Watchman
Nov 14, 2012 - 8:27pm

Nov 14, 2012 - 8:31pm

I wonder when or what it will

I wonder when or what it will take for the miners to say enough is enough and collusively start upping their prices over and above spot in order not to go under?

I don't think there is any stopping what's coming. Rick Rule and Brent Cook have been talking now for two years what is coming in the miners. The near term is going to be either take over or discovery. Mines such as IAmGold suffering from weak results. As I said yesterday, it's epidemic. And they are doing the only thing they can, buying other properties. The entire junior field will consolidate. I know people really hate when I say this but has anybody been watching what's going on. It looks to me the consolidation is under way. Being on the right side of the trade will never be as important as it will in the next year. It's gonna get real nasty soon. But I assure you somebody is going to make money. Some already are.

I Am Gold sells off it's Ecuadorian project to INV Minerals.

https://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8669067

Denison Minerals buys JNR MInerals.

https://www.canadianminingjournal.com/news/takeover-denison-offers-shares-for-jnr-resources/1001854312/

Hochschild Mining Consolidating with Andina Minerals.

https://www.andinaminerals.com/News/Release/149

AUX acquires Galaway and others recently

brokerk22
Nov 14, 2012 - 8:31pm

SOON

I keep hearing soon. Soon the manipulation will end. Soon the metals will be set free. Soon we will be at X price. Man, when the hell is soon. 1 year. 5 years. 3 months. I mean really. I am so f&%#$ frustrated. I know things will collapse but these metals are almost impossible to play. In almost any form. The market is a shell game. Turd, now you are indicating a possible massive beatdown in price (unless I am totally misunderstanding your last post). If a 30% beatdown happens than silver isnt going to see 50$ within the year or more at least. Turd isnt the only metals guy saying these things either, by the way. Some clarification would be nice.

ballyale abguy4
Nov 14, 2012 - 8:36pm

I've been posting mostly on the Yahoo IV board.

https://www.tfmetalsreport.com/comment/reply/4316/236023

You can see my posts there, all the way back to oil and shipping posts. Haven't posted much about oil and shipping, though, I'm still interested. Shipping won't recover for at least 3 to 5 years at best and will die, if the Straits of Hormuz are even threatened due to insurance rates skyrocketing. The rates are already about marginal as they are, if they companies signed on to good long tern rates. Due to the nature of the shipping industry, where new ships are financed, shipping companies are incredibly vulnerable to BK on the downside. In a recessionary environment where less oil is needed, IMO, there is going to be a massive number of BK's in the oil shipping industry with so many ships having gone online the last couple of years with break even profits for a year or two and now underwater. IMO.

We must be getting to close to a low in oil, since, what I've read, new oil discovery costs about $80/bbl. Then again, demand is probably diminishing while this global recession progresses. I wouldn't be surprised, if oil actually went into the $70's should there not be an Israeli strike on Iran. Israel, by the way, has recently struck very large oil and gas reserves off their coast as has Greece and Turkey by the way. It will take many years before that stuff sees the surface for sale, however.

Anyway, thanks for the complement.

Conclusion; I am a simple man with no connections or any inside information, whatsoever, likewise, with foreign policy. However, I have been following our Foreign policy ever since I attended George Washington U. and have steeped myself in global history for decades, esp. military history.

Ballyale

القراع عصفور
Nov 14, 2012 - 8:45pm

You all "have nothing to fear, but fear itself."

hang tough. quit asking for Turd to hold your hand. the miners will be released from their shackles. people are pissed off, and we are going to send the bastards packing. the meek will inherit the big ball o' waxy! where is that guy anyway? has a dry sense of humor, kind of like this dodo bird, that won't quit squawking:-0

i hate the bastard i quoted by the way. sorry trolls. you have no bullets, um, again.

BagOfGold AgAuthaChristie
Nov 14, 2012 - 8:50pm

AgAuthaChristie...

You said...There is no other "context". Can you explain to me what other reason there might be for the Watermelon and the fried chicken and the Koolaid? I dont think you can convincingly do this.

As I said before...you took the pictures out of context...& that post has been deleted...so drop it now!...I thought the pictures were funny because you have to laugh...or die trying to laugh in order to wrap your head around the US debt...& for the same reason others post political cartoons!...If you think I posted that because I am a black racist...that would be a disgrace against not only myself & other blacks...but also against my children & grandchildren!...As I said... you don't know what the hell you are talking about!!!...

SO AGAIN TROLL...

STFU Button

Bag Of Gold


Nov 14, 2012 - 8:54pm

Perception bias

Most people see what they want to see / are conditioned to see. I see a critique of Supplemental Nutritional Assistance being widely abused to buy junkfood, and booze & cigarettes -- and all this entails. And ultra-PC paragon riding to the rescue to note that it's all about race. What about all the stereotypical white Southerners you've just offended, huh? ;-)

brokerk22
Nov 14, 2012 - 8:57pm

Sorry for the misunderstanding

I am NOT implying a massive beatdown. Could it happen? Sure. Anything could happen. I might wake up tomorrow with my head sewn to the carpet, too.

I'm simply pointing out this: Isn't it curious that NOW, after all the confidence-shattering scandals and beatdowns, the total OI has returned to April 2011 levels?

Silver Danny TF
Nov 14, 2012 - 8:59pm
Big Buffalo
Nov 14, 2012 - 9:01pm

Guesses

We're going to see Gold: at $1714 tonight and Silver at $32.35 (possibly even $32.3o) again.

Currently our debt limit is 16.395 trillion and we are at 16.260. We should be hitting the limit in December. So we're going to get a bunch of political posturing and in the end the limit will again be raised. This will be the catalyst for our next move up in metals.

I think the whole QE thing has run it's course and no one is reacting to it much. Of course, if (of course it not going to happen) the Fed actually cuts off funds, then everything falls goes to shit.

Metals not going anywhere crazy until this happens. So lets trade the range and add a bit to the stack for the end of the year should be fun, exciting, may I even say historic.

Rui
Nov 14, 2012 - 9:06pm

@MotleyFool (Repost from the previous thread)

Quote: "I would like to see you sit down each year with your employer negotiating by how much your pay will decrease"

Why do you assume deflation would necessarily cut my pay? If the raw materials I need deflate in price, I'd be able to lower the price of my product while still maintaining the margin to attract more customers and therefore make more money. Look at APPLE for example: Their iPhone was more expensive in 2007 than 2011, and yet they made more money in 2011.

If I, however, work for BlackBerry then, yes, I could face pay cut or job loss b/c the company is losing the competition and money. I don't like it but cannot fight the market. I might try joining Apple instead. I might switch to a different field. You see my salary is tied to my organization's profitability not deflation. That's how real world works.

Quote: "Why are you so sure that healthy economic growth is impossible in a mildly inflationary environment?"

When politicians control money supply, inflation is anything but "mild". That I am sure.

Quote: "Stop thinking in weight. Rather think in terms of value. One coin can buy you a cow, a year later 98% of a coin can buy you a cow. What is the difference between your 1 ounce in 2012 and your 0.98 ounce in 2013? Nothing, each buys a cow. This is value thinking."

You first claimed that we can renegotiate wages according to the inflation rate. Now after I proved it's impossible you want me to think in "value" instead of "weight". If so then why do you save in gold which gives you fixed weight not fixed value? You suggest to look past weight and yet you save in sth based on weight. How does it work? Like I pointed out, freegold contains quite a bit double-talk.

Quote: "You did not answer my question. What do you think is better : a hard money system which we have to destroy when calamity occurs, and then we go to a soft money system again while the pain is spread around due to human tribal choice, or a mixed system with a escape valve that allows calamities to be catered"

I answered it. I pointed out a desperate govt would do whatever it takes to get the money, which includes gold confiscation if that's where the wealth is stored. Freegold is not immune to a desperate govt. While we cannot prevent natural calamities, we can rein in man-made ones such as credit-expansion induced collapse, which requires a hard-money system.

Quote: "IF they (debtors & savers) are using the same medium for spending and saving, then it is impossible for them to get along, because they have conflicting interests. If you separate the mediums and allow them to be freely exchangeable, then the conflict disappears."

No, the conflict is still there. In order to save you have to earn an income first. Your income under freegold is paid in FIAT so there you are in the same pool with the debtors. You don't like to have your income diluted and yet the debtors want their debt worth less. The conflict is on.

The whole idea of a little freegold inflation could help debtors is laughable tell you honestly. If I'm a creditor and know what the inflation rate is I'd bake the rate in my loan interest so that I don't get cheated by the debtors. There's no way I'd be willing to let them off the hook at my expense.

SaratogaPrepper
Nov 14, 2012 - 9:07pm
onealpha
Nov 14, 2012 - 9:12pm

There is no such thing as

There is no such thing as free gold. Pure marketing. Let it die.

I Run Bartertown
Nov 14, 2012 - 9:12pm
The man who stole a leopard
Nov 14, 2012 - 9:13pm

Monetary center of the galaxy?

Freegold? I'm just waiting for the modern-day Copernican Revolution...

gold ... center of the monetary galaxy

https://en.wikipedia.org/wiki/Copernican_Revolution

johnnydow
Nov 14, 2012 - 9:14pm

Hotel GDX. Boom. Abandon ship!

Told you so. Crash and burn. Weekly death crosses in everything. Under the 50 and 200. Step up cowboys. That's what tf advises.

Gold headed to 1300 and silver 15. DUST baby.

Video unavailable


Enjoy the trip.

Rui
Nov 14, 2012 - 9:29pm

GDX JAN 14 PUT @ 45

Notice the two huge put volume since Nov 1st. One on Nov 1st while the other on 12th. The two together count as half of the 45 put open interests. Could be someone front-running the raid.

The Watchman
Nov 14, 2012 - 9:34pm
¤
Nov 14, 2012 - 9:36pm

Tuesdays & Weds....

...seem to be a bit different on here.

Not sure why, maybe it's mid-week boredom or just practice for Thursday-Monday.

Video unavailable
Bollocks
Nov 14, 2012 - 9:37pm

@SaratogaPrepper

My, that was a jolly tune!

My feet were tapping along. Tippety-tap, tippety-tap.

surprise

old tradesman
Nov 14, 2012 - 9:40pm

opec

opec=petro dollar=us dollar? where is opec today? History

agNau
Nov 14, 2012 - 9:43pm

Japan doubles down on stupid......

https://www.cnbc.com/id/49817892 Paper shortages loom. Invest in Georgia Pacific.

القراع عصفور
Nov 14, 2012 - 9:43pm

:-)

you guys are awesome.

Baton Pass, a challenging handoff

keep the mfr's engaged until i can return with a rested regiment. we are port side, and in a city known for good beer and high spirits!

treefrog AgAuthaChristie
Nov 14, 2012 - 9:45pm

@agauthachristie

your race card is overdrawn. please contact customer service.


Nov 14, 2012 - 9:51pm

No no, watchman- JohnnyDow rocks!

I thrilled- THRILLED - he made his standard Au to 1300 call. Last time he did that (late summer) gold promptly went from 1620 to 1770... This is the best damn sign I have seen all say! All hail Johnny Dow- the "old faithful" of the PM space!

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