Sing It Like Maureen

A nighttime raid and a new day dawns.

Just a few items today as MrsF has designs on my time. An entire day of Christmas shopping awaits and I plan to take the excursion without my phone and the ability to check the "markets".

Last night's devious attempt to run the sell stops below 1705 succeeded in tilting the charts bearishly this morning. Whatever. I couldn't care less. I do continue, though, to find it amusing that every time we get an unexpected raid for $20 in gold, the same old trolls and naysayers show up. I'm not sure what they're trying to accomplish. First of all, why would I or any of you feel foolish for being bullish in the face of the fundamentals? Additionally, by blasting me as a "cult leader" etc, they seem to think they can discourage me and get me to shut this site down. Uhhhhhhh....let me make this perfectly clear: I ain't going anywhere. The Cartel can raid and manipulate. Their disinfo agents can plant seeds of doubt. Their dupes and shills can lie and deceive. Whatever. It doesn't matter. The facts are what they are and the fundamentals do not lie. Please utilize this time and these distorted, low prices to add to your stack. Physical metal is your only protection against the ongoing destruction of paper money.

Maybe these trolls are frustrated paper traders who get angry when the free chart analysis I offer doesn't work out as planned? Look, I do my best. I not only try to give you an explanation for what has happened but I also try to predict the future. Sometimes it works, sometimes it doesn't but everyone needs to keep these two things in mind:

  1. Not even Nostradamus could have warned you that at precisely 7:55 EST last evening, some weasel on a trading desk would institute a naked sell order with the intention of blowing out the sell stops.
  2. I don't even trade anymore. Yes, I have a small handful of long-term options but I have practically begged all of the traders that frequent this site to use Andy Maguire's trading service. Given the unprecedented desperation of the manipulation, you are absolutely crazy if you are attempting to trade the metals without his guidance.

OK, back to the business at hand. Since there is such a dogged determination to keep the metals down, we'd best be aware of the support levels and where price could head if those levels are broken. For now, the lows of last week are holding and that is certainly a good sign. However, as seen last night, The Evil Ones can emerge from the shadows at any time, day or night, to blindly raid price. Please use the charts below as guidelines for dip buying.

Finally I leave you today with the reprint below. I wrote this on Saturday, November 3rd, after the metals had been savagely beaten the day before. Gold was at $1675 and silver was under $31. Like today, many were fearful and the AGAs and trolls were everywhere. The message is simple: Any fight worth winning is going to be challenging and we don't take on this endeavor because it is easy, we take it on because our destiny requires it. Setbacks and frustration come with the territory but we must persevere. Keep the faith. Be strong. Vindication and victory will soon be ours.

TF

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https://www.tfmetalsreport.com/blog/4296/defiance

Well, you can either give up or carry on with renewed determination. I choose the latter.

These are the times that try men's souls...

Let's see, what do we know for certain?

Quantitative Easing is now a permanent fixture of the financial markets for, without it, the U.S. bond market would collapse and interest rates would reset multiples higher.

  • The U.S. federal deficit will continue to be greater than $1T/year, regardless of the outcome of the election.
  • Later this month and into December, a "lame duck" session of Congress must come to terms with the looming fiscal cliff and well as an imminent breach of the debt ceiling.
  • Further downgrades of the credit rating of the U.S. are likely.
  • The European Union, already tattered at the edges, remains on the brink of crisis and dissolution.
  • Dollar creditor nations, led by China, are rapidly accumulating gold and silver as they exchange their devaluing fiat reserves for hard assets.
  • Dollar hegemony and reserve currency status will, one day in not-too-distant future, come to an end.

I could continue but I think you get the idea. Regardless of the paper machinations of the Comex, physical precious metal remains your best defense against the tumultuous times ahead.

The summer soldier and sunshine patriot will, in this crisis, shrink from the service of Turdville...

I think you know where I stand but where do you stand? Will you now become bitter? Will you be easily swayed by the uninformed and the disinformation agents? Do you have the courage of your convictions to not only find your way but guide others through the darkness?

Yesterday was tough and, worse, unexpected. But don't think for a minute that it was a selloff directed specifically at the precious metals. So understand that there may be more going on here than you think. The situation in Europe is tenuous, at best, and things on the ground in the U.S. aren't much better. For now, the precious metal "baby" is being thrown out with the proverbial "bath water". You should seize this opportunity to add to your stack.

  • With all of the selling in gold and silver yesterday, just whom do you think was taking the other side of that trade? Let give you a clue...it wasn't the specs.
  • Backwardation, as measured by the difference between the futures "offer" and the spot "bid", has reached a level of such extreme that it makes further significant declines highly unlikely.
  • Our friend, Andrew, reports that demand in London yesterday remained "exceptional" and "unprecedented". Though the effects of this physical demand can often by muted on an intraday basis, it nonetheless precludes the bullion banks from exacerbating the moves to the downside.

But he that stands by it now, deserves the love and thanks of man and woman...

I personally promised you a "hot, explosive and historic" summer. It, obviously, did not come to pass and, so far, it has not materialized this autumn. Do not be dismayed. I personally know of several extraordinarily brave and courageous people who are actively working to bring about an end to the blatant manipulation of precious metal price by the Bullion Bank Cartel. With firm reliance upon the protection of Divine providence, I am extremely confident that they will be successful. When they are, not only will the manipulation end but, perhaps, the plundering of Western reserves will slow, as well.

Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph...

So, again, I implore you: Do not lose faith and do not suffer from doubt. The end of The Great Keynesian Experiment is indeed upon us and you must continue to prepare accordingly. Do not be swayed by the day-to-day trading of the Comex nor the incessant noise and disinformation supplied by the financial media. Think for yourself. Study the past and the present, then consider the future. Trust your instincts. Believe in yourself and your ability to lead and inspire. Your family needs you. Your friends need you and Turdville needs you. The future demands leadership at every level and we all have a role to play. I will continue to do my part. Will you?
 

406 Comments

VAT Man is Robbing's picture

Carney may target nominal GDP

http://www.bbc.co.uk/news/business-20710268

Why put so much effort into fudging headline inflation figures when you can just stop targeting them instead?  Genius.

Beastly Stack's picture

Hammerman

Are you a grown man?

Groaner's picture

Maund was super bullish on silver

a short time ago.. whip sawed again?

this is getting old fast.

HeNateMe's picture

Down Days Are Okay

Recently, having to sell a lot of my stack to take advantage of a discounted loan write off, my perspective has changed a bit.  I am no longer discouraged with down days, and actually a bit excited.  You see, I am in the process of rebuilding my stack, but this time slower as I don't have the cash to buy it all back now (and maybe I don't want to).  So, I greet down days with the same smile that I greet up days.

I know how it feels though when you are "all in" and only wanting the metals to shoot higher.  And I WAS very sad when I sold a lot of my stack, but I realize now it's been a blessing in disguise.  But to all those who don't have the cash to buy any more metal, I feel ya dog.

Just thought I would share my newfound perspective. 

HeNateMe

Groaner's picture

Fed was buying 60% of debt in 2012

In 2013 they will buy 90%.. I know , I know you think that is bullish for the metals right?

pailin's picture

@TallBloke - are the

@TallBloke - are the Brittania's dated? It me be as simple as 2012 not being minted now and so all that's left is dregs until 2013 comes out?

Xeno's picture

Silver66

Thanks for posting that link to the Dec. Thunder Road report. I just finished reading it and it is POWERFUL. Good luck finding it now though as all the links seem to be dead.

Bottom line is that we're in for a storm unlike anything before with a new currency system on the other side. So don't be surprised that the invisible hand is smashing us so that we might relinquish gold and silver into their hands.

Worst case, imho, they pull out the big guns and take it from us. Oh wait, isn't that what police state america is all about?

Beastly Stack's picture

Boehner

Great graph-he has gained some points back with me today!

Should help GOLD&SILVER

THE PROBLEM IS SPENDING!

HeNateMe's picture

@Groaner

It is bullish for the metals.  But in time.  Maybe not right this second.  angel

HNM

zimbabwebobb's picture

U.S. runs $172 billion budget deficit in Nov.

http://www.marketwatch.com/story/us-nov-budget-deficit-172-billion-treasury-2012-12-12-1491016?link=MW_latest_news

If interest rates were EVER allowed to go up in USA, it would lead to the biggest global economic collapse in human history.

Quivering Lips Bernanke is lying through his teeth when he says that they intend to sell assets at some point and they are not monetizing debt.

The fact that they are purchasing more assets and holding on to them for a few years allowing inflation to eat away at those assets is clearly monetization. 

hammerman's picture

beast... just cause i 20 something

dont mean i not smart enough to know a bad turd if i see one...  beastly...  you and my brother think alot alike....

Beastly Stack's picture

Let's Go

Giddy-up

Go to the WHIP

Fr. Bill's picture

@ Dr G regarding families

I certainly can't quibble (nor would I ever want to!) with your assessment of the critical need for families.  I do quibble, however, with the implication (if you've actually made it) that "calling for increased families" actually names the puzzle piece missing from a picture of social/economic/political health for the country.

My vocation as a pastor for 40 years shows me that the missing puzzle piece is not family, but the precursor to family, viz. marriage.  And marriage is NOT to be equated with serial monogamy on one hand (institutionalized for several generations now by no-fault divorce), or "modern" substitutes for marriage and the family that a bona fide marriage is supposed to generate. Back when my wee lassies were in kindergarten, I found in the teacher's syllabus (which she so kindly let me examine) a unit on "the family," in which all sorts of configurations, including homosexual persons, were set forth as instances of a family.  This was 25 years ago.

So long as heterosexuals treat marriage as they treat cars (trade-in for a new one every few years), or opt out of it entirely (shacking up is so much "safer" dontcha know), or acknowledge same-sex partnerships as "valid" marriages -- so long as these dynamics churn through the culture, families will be nipped in the bud and sapped of any power to produce the good you are calling for.

¤'s picture

pailin sighting

:-)

Island Guy's picture

What if Blyth Was Telling the Truth?

As we all agonize over the sorry state of the metals markets, the thought crosses my mind that maybe we're over analyzing things.  The answer could be quite simple.

Presume for argument's sake that Blyth Masters was telling the truth during her recent interview, and JP Morgan is not intentionally manipulating the metals markets.  They are merely executing orders for anonymous clients.  The speculation, of course, was that these clients were the Fed and/or other central banks. 

It is commonly accepted that Fed and the central banks want to preserve the dollar as the world's reserve currency, and so they manipulate the metals market to accomplish this goal.  In particular, whenever anything happens which might prompt people to even consider gold and silver as alternatives to the dollar (such as yesterday), they must be manipulated down in order to preserve the dollar.

Since the Fed and other central banks have unlimited funds, mere money is not a constraint on their actions.  Neither is the law.  The will never run out of money.  The only limit on their actions is if the markets run out of metal.  Period.

Supplies of gold and silver are tight, but we have not yet run out.  Given that fact, I don't find it surprising that metals are being beaten down.  When viewed in this way, it would have been more surprising if they had not been hammered.

[edit]  I didn't notice it before, but uchiki posted a nice chart on page 2 of the comments showing that beat downs have happened after each phase of Quantitive Easing, when logically the metals should have soared.  This just provides further data in support of my "simple" explanation.

Beastly Stack's picture

@Hammer

Just wondering because I think it was you last week who put out a prediction for stocks to crater into the end of the year!After what the fed did yesterday I think that is wrong in a huge way!

Xeno's picture

Boehner Quote

Boehner just said, and I quote;

"If the justice dept. won't enforce the law, the congress will."

ROFLMFOA  When? When hell freezes over?

Dr G's picture

We couldn't possibly be

We couldn't possibly be winners unless we had actually been playing the game.

So in a very real way, we are  participants.

Disagree. We are betting on the game via a casino in Vegas, but we aren't playing the game. We aren't participants. We are involved in a sideshow. The market we follow is paper. Do you have any paper metal in your safe? I sure don't.

bunnytoujours's picture

A lie within a lie within a lie...

then a black swan. 

the_circle's picture

Not so bad

Although none of us are surprised what happened yesterday, it was still a bitter pill to swallow. Now that we have accepted the BS that we will endure for a few days... just keep in perspective- we are only down about 2-3% this week. 2-3%?? that is nothing.

The fundamentals are sound, and these dips will further drain the available silver.

Another thing- don't expect anything to change when the "fiscal cliff" approaches. Whenever taxes are raised (which they will be), the government income will decline as business slows or moves overseas.

You are fully right to hold gold and silver instead of dollars, but the manipulation is there to dissuade you from doing so. Silver is in backwardation now, and the commodities markets will fail in the near future.

The 100th anniversary of the federal reserve act is next week (Sunday)- they could have another birthday surprise for us all then.

SilverLeaf's picture

Who couldn't have seen this coming?

"Not even Nostradamus could have warned you that at precisely 7:55 EST last evening, some weasel on a trading desk would institute a naked sell order with the intention of blowing out the sell stops."

No...but the likely trading direction going into year end was so damn obvious...did you think the monkeys weren't prepared to stomp on the metals immediately after the Q4 announcement? 

Turd's Dec 5 prediction that the metals will experience a strong December seems destined to be wrong (again). I suppose anything could happen in the next two weeks, but logic says that it's unlikely that the manipulators will let a crisis like the fiscal cliff go to waste. Add in the historically low trading volumes over the holidays, and it seems like a no-brainer that the pressure is likely down for at least another couple of weeks. 

I wouldn't be surprised at all to see gold back to $1650ish and Silver down to about $30 going into year end. I doubt they go much lower than that given the fundamentals and the cartels already extended short positions. If and when the metals hit those levels, I'm adding to my physical stack and getting setup for a range trade. I do suspect that metals will catch a bid in Q1 and Q2 of 2013, once all of the things I listed below are behind us, the consequences of the fiscal cliff resolution and QE4 become clearer.

.................................................................................................................................................

I'll take the other side of Turd's prediction...

 
22

...that "we'll end 2012 at the high end of the yearly range". Don't think it's going to happen...Instead, I think they'll try to jam the price down in the next few weeks in an attempt to:

1. Paint as low a yearly performance for gold and silver as they possibly can. As Jim Rogers said earlier this year, gold's gone up every year for the last 10 years and has killed returns on all other asset classes. It would be normal to have a year where it's flat or ends with a loss. The bastard manipulators would love nothing more than to have 2012 returns come in as low as possible to discourage investors as we go into 2013, and to minimize the perception that gold is a *dependable, can't lose investment*.

2. Take advantage of the "fiscal cliff" farce until an agreement is reached at the last minute (as we all know it will). If the compromise results in more monetary debasement (as we all know it will), the manipulators will want gold and silver to react from the low end of the 2012 range, not the high end. To achieve that, they have to jam the price down before the miraculous compromise is reached at the end of December.

3. Force more small investors to pile on with year end tax loss selling. The timing's ripe to try to force another minor waterfall decline, by taking advantage of the 3 week window investors have left for tax loss selling. Create downside volatility, and small investors who want/need to take tax losses will pile on and force prices even lower.

hammerman's picture

beastly... big o wants to upset the entire economic system

as he thinks that when the shaking starts and the priceless paintings start falling from the walls and everyone is panicking that he and his fellow criminals can scope up real and encompassing power... and i gotta tell you... he just might pull it off ... if benny can pull the chit he is pullling w/o little backlash.... well you see where i am going...

silver66's picture

PIMCO-Bill Gross

here is link to December newsletter. pay particular attention to his 1st pick

https://canada.pimco.com/EN/Insights/Pages/Strawberry-Fields-Forever.aspx

Silver66

Xeno- I did print  out and put in a binder. I will look for a new link. If not I can scan and e-mail to you.

Harald's picture

@Condor

You wrote:

Their theory is that China, Russia, South Korea, et. al. are operating their own hedge funds that naked short the metals so that they can take physical delivery out east.   While this might save them a certain percentage on the purchase price, what of the massive losses they would be accruing in the sovereign hedge funds?   The math on this does not make sense to me.   Does it to anyone else here?

I'll take a stab at this.  If someone knew that there would be a delivery failure and the paper price would eventually go to zero, (JPM for instance, would know about an impending failure since they are the one who are supposed to deliver.) that someone could sell contracts and roll contracts with impunity, knowing they would never have to cover.  Also, this would allow the central banks and the sovereigns to continue to acquire physical at a low price.  No Victorthecleaner analysis went into this one, just a thought off the top of my head.

Nana's picture

Hackers Steal Data from Pentagon, NASA, Federal Reserve

http://fromthetrenchesworldreport.com/hackers-steal-data-from-pentagon-nasa-federal-reserve/28126/

Hackers Steal Data from Pentagon, NASA, Federal Reserve

Members of the Anonymous-affiliated Team GhostShell hacking collective have published what they claim is stolen information for 1.6 million accounts linked to government agencies, including the Pentagon, NASA and the Federal Reserve.

The hackers appear to have breached the database with a malicious SQL code injection, ZDNet reported, stealing passwords and corresponding email addresses, phone numbers, home addresses and notes from defense tests.

“#ProjectWhiteFox will conclude this year’s series of attacks by promoting hacktivism worldwide and drawing attention to the freedom of information on the net,” Team GhostShell wrote in a Pastebin post that included links to the stolen information......

Read rest of article via link.

hammerman's picture

and yes beastly

i've been telling everyone i know since middle sept.... major sell off coming... when it start selling and falling... when might it stop?   the criminals running things gonna make fiat on way up and on way back down...   PMs the only thing for the outside the power circles the retain any wealth....  god bless bob chapman.... he was soooooooooo right..    boooyah

Groaner's picture

Rah rah shish kooom bah.. or close to that?

SILVER WOULD NEED TO REACH $700/OZ TO ACHIEVE 1980 VALUE BASED ON MARKET CAP

Full-Banner1.jpg

David Morgan’s ResourceInvestor.com has released a 4 minute clip with Ryan Jordan, author of Silver- The People’s Metal on why modern portfolio’s should hold tangible assets such as PHYSICAL SILVER rather traditional financial assets like corporate and government bonds and securities.  Jordan points out that at the peak of the 1980 bull market in silver, the value of the world’s silver bullion reached 10% of the market cap of the entire US stock market.  In today’s terms, this would put the value of the world’s silver at over $1.5 TRILLION, or approximately $700/oz!

Full clip below:

silver66's picture

It is hidden in plain sight

http://www.newyorkfed.org/research/staff_reports/sr574.pdf

page 3, first paragraph.last two sentences

Stack till it hurts:-)

Silver66

Mr. Fix's picture

RE,Dr G

Okay, maybe it is simply a matter of semantics.

No, I do not have paper anything in my safe, just shiny.

And yes, I agree with your contention that all price discovery is currently in the paper markets.

Making a paper  bet,  to me would be more analogous to what happens at a casino in Vegas,

then what it is that we are doing.

If we are working from the assumption that our precious metals have real value, then removing them from the open market, at some point will have a significant impact on the Evil Empire's ability to manipulate the price with impunity.

At some point, there will be more standing for delivery than can possibly be delivered.

( Harvey Organ still thinks that that may be this month, as the numbers for those “standing for delivery” were massively lowered at the last minute, to create the illusion of lowered demand.)

More importantly, manufacturers who depend on silver as one of their raw materials,

will literally pay whatever it takes to keep their supply.

Whenever prices are manipulated lower, and this applies to every commodity in existence,

it always creates shortages.  Gold and silver are most definitely not an exception to this rule.

The bullion banks, and their respective governments had a huge stockpile, to be able to maintain a price manipulation scheme for decades. Their stockpiles are gone now, and all they can play with is their paper shorts.

I will agree that we currently have absolutely no effect whatsoever on the price of silver and gold.

However, when the day comes that delivery becomes impossible due to its scarcity,

then not only will we have an effect on the price of silver and gold,

many of us will already have a substantial stockpile of it.

This does not equal  gambling in Las Vegas.

Sooner  for later, it either comes back to supply and demand,

or it will be outlawed altogether.

Either way, the price will explode.

¤'s picture

Santa says...

Could it be that Santa reads this site and saw my cartoons the other night? 

Nope...they've been around for awhile and they fit the current theme  of the day and are in the public domain.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Gold Does Not Need You Or Me

Dear CIGAs,

Gold will trade at $3500 and above on its own merits with Eastern demand in the cash market being the engine of price.

The Fed via Goldman has capped gold in the paper market for months. They were so obvious between $1775 and $1800 that Petunia can call the strategy.

Goldman is, in all practical senses, the Exchange Stabilization Fund because ESF is only a brokerage account. There is no fund in terms of what one thinks a fund’s office should look like. Read the law.

The President or US Secretary of the Treasury may appoint ANY person or entity to act on their behalf as the manager of the Exchange Stabilization Fund. The Exchange Stabilization Fund has a broad mandate that allows it to trade many things including GOLD. The USA is not the center of the Gold price in the full valuation move into 1980.

Right now the geniuses in charge of the ESF are driving gold via the paper market directly into Eastern hands. There is much speculation about the amount of Gold the USA holds and its deliverability as much gold and silver was used in the Manhattan Project and no audit has ever been carried out.

The gold price will in the not too distant future go through the cap and that will take it to full valuation above $3500. If you’re speculating in gold in futures without at least 20 years of positive history and training as or under a professional you have a financial death wish.

If your reason for owning gold and silver is an exchange failure you are fundamentally challenged.

The volatility in gold and counter intuitive moves, thanks to Goldman as broker for the Exchange Stabilization fund investor, will migrate back to good gold shares with the real beef.

Respectfully,
Jim

In The News Today

Jim Sinclair’s Commentary

There is a definition of US Fascism in this illustration. It is certainly no joke, or cartoon, but spot on.

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Jim Sinclair’s Commentary

The instant gold mine that the regulators have forgot to regulate is now reaching almost 3 billion in one week. Not regulating is the new growth business. They might consider going public based on profit margin for not regulating.

Note please in the teaching illustration below the bowl of “I Don’t Care” is full. Again this is no joke or cartoon.

clip_image002

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