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

tyberious
Nov 14, 2012 - 5:02pm

G. Edward Griffin –

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from FinancialSurvivalNet

G. Edward Griffin of Freedom Force International is a legend in the freedom movement. Since writing The Creature From Jekyll Island no one has ever looked at the Federal Reserve the same again. He says we’re now in a situation where the sociopaths who are running things are free to steal from us as never before. The financial collapse has unleashed this group and there’s limit to their pillaging. And while we need a revolution of sorts, it’s not a violent one, but rather one of education and ideas. Novel concepts such as the free market creates greater prosperty than any other system. Or that government is never the solution, but rather has created the problem in the first place. Once people start understanding what is really happening, then freedom will again take hold like never before.

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Patrancus
Nov 14, 2012 - 5:02pm

newsworthy or not

Newsworthy or not, it is in the news. It all began as a voluntary compact between states, these volunteers have the propensity to grow weary of the heavy burden's laid upon them by a power usurping all controlling federal gooberment.

Are you in this for your liberty, or just going along to get along?

https://www.dailypaul.com/262830/ron-paul-succession-an-important-consti...

xotemki
Nov 14, 2012 - 5:03pm

@ Bag of Gold

I am responding to your comment towards T from the previous thread: https://www.tfmetalsreport.com/comment/142506#comment-142506 I appreciate your good sense of humor ("when you cry I buy & when you sell I yell":-)). I believe that your comment is in very good spirit but a little bit harsh on T im, because: 1) Your claim that you are grateful to T for "all the profits that I have made" seems to me a little bit over the top... Wouldn't you agree :-) 2) Do you not believe that the Miners as a group have been subjected to unprecedented levels of criminality and market manipulation exactly as described by T? Do you seriously believe that fundamentals still move markets or do you agree with Andy Hoffman's thesis that only manipulation moves markets?

tyberious
Nov 14, 2012 - 5:05pm

Re: Miners

The need to form a CARTEL! They have finite resources and in the case of silver modern society can not do without. I guess monetarily that applies to gold also.

SRSroccoThe Watchman
Nov 14, 2012 - 5:06pm

REPLY @ THE WATCHMAN

The Watchman... for heavens sake, they sure did.

Nationalization of oil supplies

According to consulting firm PFC Energy, only 7% of the world's estimated oil and gas reserves are in countries that allow private international companies free rein. Fully 65% are in the hands of state-owned companies such as Saudi Aramco, with the rest in countries such as Russia and Venezuela, where access by Western companies is difficult. The PFC study implies political factors are limiting capacity increases in Mexico, Venezuela, Iran, Iraq, Kuwait and Russia. Saudi Arabia is also limiting capacity expansion, but because of a self-imposed cap, unlike the other countries.

--------------

In the Oil Market, it didn't take $150 a barrel oil for countries to realize how powerful it was to own their own energy resources.

The reason why I believe foreign countries have not increasingly nationalized private gold and silver mines, is due to the fact that the world still runs by a US DOLLAR world reserve currency. However, when this FACADE ends, then I believe foreign governments will behave quite differently.

The Watchman
Nov 14, 2012 - 5:12pm
Nov 14, 2012 - 5:12pm

Regarding the miners

A real washout today. Keep in mind that the stock market was down 200 points, too.

If I had any cash (which I don't) and if I owned any miners ( I don't own any) and if I was looking for a trading opportunity (which I'm not), I would be looking to buy tomorrow, probably right after the NYSE open at 9:30 EST.

Bongo Jim
Nov 14, 2012 - 5:17pm

It's official...

My "thinking is dangerous" as told to the wiffer by her Dad's Financial Consultant. "Jim might talk you into selling everything and buying silver." Glad I wasn't at that meeting. The FC also said that since Prop 30 was passed (in Calif.), Municipal bonds are going to do well. Uh, o.k., REALLY glad I wasn't at that meeting.

Patrancus
Nov 14, 2012 - 5:21pm
BagOfGold
Nov 14, 2012 - 5:23pm

Food for thought...

Here's your "dollahs" hard at work!!!...

Keep stacking & prepping folks!!!...

Yum!...Yum!...Yummy!!!...

Bag Of Gold

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