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

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Colonel Angus
Nov 15, 2012 - 11:50am

I'd buy that gorilla a beer...or a banana

My kind of gorilla to hang out with. And we could drive the monkeys off together and then watch the football game. Do gorillas like pretzels?

Sheetrocker
Nov 15, 2012 - 11:42am

Treasuries

Meanwhile, worthless POS treasuries are near all-time highs.

Bollocks
Nov 15, 2012 - 11:39am
SilverSurfers
Nov 15, 2012 - 11:35am

Dr G

Now tell us how you really feel.

They smack it down, to 32.15 and now back over 32.50 at 32.65 pushing 32.70 again, right where we were before the take down.

https://jessescrossroadscafe.blogspot.com/2012/11/jpm-benched-from-tradi...

JPM benched from oil trading.

When they gonna be benched from metal trading ...

ggnewmex
Nov 15, 2012 - 11:33am

take that!!

Huge smackdown attempted,

i would say that was thwarted!!!!!!!!!!!!

LOL

SheetrockerDouble Bogey
Nov 15, 2012 - 11:31am

@Double Bogey

There was an old railroad bridge, very similar to the one in the video, on hwy 78 on the north side of Birmingham, Al. Though severely scarred, it won every battle until they demolished it 10-12 years ago.

SIlverbee
Nov 15, 2012 - 11:25am

Am I just seeing things or....

Do all the last three FUBM run up the same timeline track on KITCo. Either the EE buy back in a pattern of sorts or the anti-monkeys do however as I type we have recovered almost $.5 in 1.5hrs not bad.

Orange
Nov 15, 2012 - 11:23am

Great News

Last year, a smack down like we just saw would have stayed down days or weeks. A year before, a smack down like this lasted much longer. Blythe and the Morgue know that they are coming to crunch time. Thanks Turd for educating us and as many people as you can. Andrew's comment, providing on the spot information, and the speed at which it moves around the internet along with Turdville and others will crash the Morgue.

Big Buffalo
Nov 15, 2012 - 11:20am

huh

not hearing any complaining about the slow and gradual melt up happening.

abguy4
Nov 15, 2012 - 11:19am

Totally Normal Silver Dump an Pump

Those who have identified what is likely the current cartel manipulation pattern and BTFD (Stack the Smack) have made a killing this week as every large silver dump has been met with a vertical gain.

Either China has massive buy orders in place and is literally buying every available ounce on every raid, or else cartel algos are attempting to gun longs stops, and immediately gun the new shorts stops, fleecing both spec longs and shorts in the span of 10 minutes.

https://www.silverdoctors.com/totally-normal-silver-dump-pump-is-back/

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