German Gold Hijinx

Wed, Jan 16, 2013 - 11:54am

I guess it all depends on how you look at it. Either this is all on the up-and-up or it isn't. Either this is a purely political show or it isn't. Either the gold is really there to be repatriated or it isn't. It's up to you to decide.

Just three months ago, The Bundesbank labeled as "lunacy" the idea that German gold needed to be brought home. They announce today that they're doing it anyway, but in sizes nowhere near what had been speculated. Is this just a political trick to mollify the German hoi polloi? Probably. It certainly doesn't upset the status quo or shake the global banking system in the manner we'd all hoped.

However, you could also choose to look at it this way:

  • In preparation for The Great Reset, the Germans do desire to repatriate as much gold as possible but they also don't wish to bring about The Reset any quicker than necessary.
  • So, they bring home "their French gold" but only do so at the rate of 50 tonnnes/year. Why? If it's just sitting in a vault and collecting dust, why not ship it all home over the next few weeks? What's the big deal?
  • And why leave "their English gold" untouched? Is it because all gold stored at the BoE can be leased, hypothecated and rehypothecated many times over, thereby making reclaiming it impossible?
  • And why bring back just 300 tonnes of "their American gold", again over the next 8 years? It shouldn't be that big of a deal to pull up a few pallets of "barbarous relic" from below the streets of lower Manhattan, drive it over to JFK and load it onto an airplane bound for Frankfurt. Should it?

Hmmmm. Maybe, just maybe, their French gold is long gone and the Frenchy-French need some time to come up with new supply to pay them back? ( Maybe the English gold has all been shipped to China and other points East, where it has been resmelted into kilo bars with official Chinese insignia? ( And maybe, just maybe, the American gold is nothing but paper certificates and IOUs, no more valuable than claims on the GLD? (

Ahhhhhh....what do I know? I'm just a Turd. A dope with a MacBook. I'm sure it's all just fine. Move along. Nothing to see here. All is well. Go back to sleep.

Anyway, it has been a few days so we need to update the charts. Let's start with gold. Take a look at these two, daily charts. You can clearly see the price double bottom. This also coincides with an open interest bottom in late December. In the big picture, me likes what me sees.

Now check out this 8-hour chart. Besides all of the horizontal and diagonal resistance lines I've drawn, gold will likley run into some tough sledding near the 50 and 100-day MAs. The fifty for the Feb13 contract is currently near $1697 and the 100 is near $1718. Taking it all into consideration, the "all clear" for a rally can't truly be sounded until gold gets up and through about $1710-1715, maybe in a week or two. Until then, I just plan to keep stacking physical. I'm not going to buy any more options just yet.

As you might expect, silver has a somewhat similar picture. It came down in late December and then double-bottomed just below $30 about two weeks ago. Since then, it has seen a steady progression higher. Now it just needs to follow through. It is finding resistance near the highs of 1/2/13 (31.50) and it needs to break that level to draw in more buyers. Once through there, expect slowdowns near the 50-day, currently at $32.01, and the 100-day near $32.60.

That's all for today. I need to go take a little boat ride with all my guns and ammunition. It'll probably take most of the day. More tomorrow...


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 17, 2013 - 8:17am


When all around us lying for advantage has no consequences what do you expect? Young people just doing what they have learned from their elders.

New Notre Dame fight song:

Video unavailable
Jan 17, 2013 - 8:26am

@ ahmachat

as well as us Turdites, we will have stackers all over the world, including the Asians, and then the hedge fund algos on top of that, piling into the conversion trade. I would expect it to be in full flow sub 30:1.

This is fascinating stuff; silver is going to come out of hiding, and start satisfying the demand. If the cartel needs silver, they can get it by orchestrating the GSR to the desired levels.

The initial implication is that just when the GSR seems to be picking up inertia, it may suddenly collapse through a wave of supply.

There is one other implication though; if the global stacking community have dishoarded most of their ammo by say 20:1, and it did not produce enough silver, (this is of course, raw speculation) then T Mosley's 0.1 : 1 (ten ounces of gold to one ounce of silver) might become possible in that scenario.

I am not banking on it, but I just plan for scenarios rather than agonising over the probabilities. Never allow yourself to be out of ammo!!!

Jan 17, 2013 - 8:30am
Jan 17, 2013 - 8:36am

Manipualted Shit

Manipulated Shit..........move on guys....economy is fine..nothing to see here....

Jan 17, 2013 - 8:40am

drop off

Any ideas what just happened?

meddle magic
Jan 17, 2013 - 8:41am

buy op

Hey one more time, the paper game continues. Like turd said 31.5 in silver must get slammed.

Jan 17, 2013 - 8:46am


in the house?

silver66 Green Lantern
Jan 17, 2013 - 8:47am

GL- What lies underneath

Excellent post, to add to your thesis on Germany reasserting itself

Having been to China, "Face" is very important. Shortly after Germany was over for a visit, Hillary popped over to have a chat with the Chinese.

The pieces are there if we will just open our eyes and minds. The gravity is shifting in the room :-). Game on

Again great post


silver66 Green Lantern
Jan 17, 2013 - 8:48am

GL- What lies underneath

Sorry double post

God D#@n it

Jan 17, 2013 - 8:50am
Jan 17, 2013 - 8:57am


The longs are just out-gunned on the Comex.

Bollocks recently posted a clip of a little cat standing on its hind legs, waving its claws and trying to intimidate a bigger cat, before it got pounced on and flattened.

Is this not the longs vs cartel scenario played out endlessly on the comex?

calling Bollocks, cue the video.

Jan 17, 2013 - 8:57am

don't forget the bigger picture...

Just received an email from my bullion dealer in Germany.

They're still waiting for their 2013 silver coins! They are very bothered because they have hundreds (their words) of clients waiting for a very long time now.

This has never happened before, by the way.

Urban Roman
Jan 17, 2013 - 8:57am

Yup - monkeys in da house

S&P futures jumping up for no reason ... several galleons full of PMs just couldn't wait another hour, and had to be dumped into the "market" right now.

Jan 17, 2013 - 8:59am

Longs vs cartel on the Comex

Or Monty Python's fish slapping dance, take your pick.

'We're gonna need a bigger boat!'

Jan 17, 2013 - 8:59am


Weekly initial jobless claims posted 335K. We all know that number is horse shit, but the algos game the head lines along with a little bit of a shove from the monkeys and down go the PMs. Don't worry, they will trade back up to the initial sell off point soon. The half lives of these raids are getting shorter and shorter. Usually the losses are negated within the next 24 hours. Looks like someone got a really awesome price for that silver by selling a boatload in a couple seconds, since that's apparently the way fascist markets now work. Nice!

Jan 17, 2013 - 9:03am

I'm surprised...

that everyone is surpised.

Jan 17, 2013 - 9:04am


yes algoes, not cartel?

Jan 17, 2013 - 9:06am

Trying to get it under $31 again

Reckon she'll do it

Edit: held at $31.05

Jan 17, 2013 - 9:07am
Jan 17, 2013 - 9:08am

As long as au is priced in

As long as au is priced in usd, suppression will continue re the paper price. Keep stacking. When it's priced in some other currency once the usd has been replaced, you wont be able to afford it !

Jan 17, 2013 - 9:23am

Cheap :) Keep stacking 

Cheap :) Keep stacking

Jan 17, 2013 - 9:24am

Green Lantern, excellent!

Re: Repatriation talk a big deal/Iceberg/Choosing sides internationally/Tipping Point for The Anglo-Western Empire and the rest...

Most excellent post, sir. Yours was (usually is) a culmination of intelligence from one that digs it out, analyzes it (as well as the source of it), and dispenses it so well, flying from 30,000 feet macro to the tarmac microcosm of detail... good stuff. A keeper.

Thank you my friend.

Jan 17, 2013 - 9:35am

@ Byzantium

Yeah, started late and GSR was moving up so I went heavy silver. Here's to all of us being da man! (or woman)

As for full unload or mini-unload at specified ratios, I haven't thought about that level of detail. I do believe it'll be via the LCS so that will play a role in decision making. Thanks for giving me something to think about.

Jan 17, 2013 - 9:38am


working on it

Jan 17, 2013 - 9:41am

The signals are so obvious

Miners taken down yesterday on no news, metals hit today. I mentioned this yesterday but I certainly don't take any credit for insight on this cartel signal. This tactic been mentioned and illustrated for several years now. The GATA folks have documented, categorized and named these thinly disguised, broadcasted moves.

And they keep occurring. Nothing is mentioned in the MSM. No surprise there. No regulator breathes a word of the blatant nature of it. No surprise there either. Hope the traders amongst us are making money on these signaled raids.

My question: Why does the cartel even bother with these signals that are obvious to everyone in the mining or metals arena? There is no legal ramification for manipulation if all of the executive, legislative and judicial branches of the Empire not only condone it but cover it and profit from it. So why bother? Wouldn't be as much fun to steal, lie and cheat if they came right out in the open?

The Cartel and their minions should save time and energy and just let Steve LIEsman come on each morning and afternoon and tell the hedgies and other monkeys what their masters in crime want them to do. They'd probably save electricity too, not having to deploy those HFT's so often.

Big Buffalo
Jan 17, 2013 - 9:44am

Holy Smokes

The FUBM is strong with this one.

Jan 17, 2013 - 9:45am

@ Larry

because they need victims, who are not copied in on the memo.

Jan 17, 2013 - 9:53am

Longs vs Cartel

I posted this video the other day - I think it was Bollocks who followed it up with the cat on the record (LOL)

FunnyFuse Faves: Look Into My Paws

Longs take a beating... but always get back up!


Jan 17, 2013 - 9:54am

Nice reverse H&S forming for gold...

...should fly back up again...?

Jan 17, 2013 - 9:55am


Back well above gold and ready to take another stab at $1700. Break through or double top???

Watch closely.


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