Antidote For Manipulation

Mon, Feb 11, 2013 - 12:47pm

Though, admittedly, it's anecdotal.

So, let's see...The Cartel uses the Chinese New Year holiday to jam price through the 200-day moving average. This trips a bunch of sell-stops and here we are. The gold chart now looks lousy and it is below each and every relevant moving average. Once again, if the LegHounds are going to go to work on ya, you'd better just let them finish their business. This too shall pass, though, and the opportunity to trade some paper may even present itself very soon.

So, what's this anecdotal antidote, you ask? Well, here's just a sample:

  • Once again today...and even though it's a Chinese holiday...the Comex drop sparked enormous allocations of physical in London. This continues the trend of paper-bashing in front, deliveries out the rear.
  • And this story certainly got a lot of play over the weekend: But what a joke it is that this MSM story opens with this paragraph:
  • "Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty."

  • Are you kidding me, Mr. Rose & Ms. Tanas? "A quarter more than runner-up China"? Did you somehow miss this story?: Note the source material for the ZH story is this article, also from Bloomberg:
  • But again, no sense alarming anyone. There's no way that China could be moving toward transforming the yuan into a reserve least according to The Economist:
  • And, of course, this from Bloomberg and BusinessWeek should just be ignored:
  • But my favorite is the notion that "gold is in a bubble" and that "everyone who wants to buy has already bought". A few days ago, we shared a post from SilverDoctors concerning first-hand evidence of extraordinary individual demand in China: Over the weekend, a Turdite reported a similar situation, this time in Thailand:
  • "Hi Turd. Just got back to my apartment in Bangkok. Went to china town, its Chinese New Year today. WOW. Talk about quite the time. I am here for a month exploring the city and trying to drum up some international business contacts. Anyways on to why I emailed you. The gold buying was freaking NUTS!!! Stores were packed. I walk by a huge horde of people and a big announcement, I weave through the line to see what the commotion is. It is Disney announcing a new line of gold coins and jewelry they are launching, people were going berserk. I thought I would mail you some pics. Thought the Turdites might enjoy."

    So, take it all for what it's worth. However, it certainly seems that if The Monkeys insist on jamming price lower in NY, there's an unlimited supply of physical buyers around the rest of the globe, from Central Banks to ordinary citizens. The question is: On whose side do you want to be on, the paper sellers or the physical buyers?

    Lastly, I was honored to be on with Dr. Janda again yesterday. Here's a link if interested in listening:

    Have a great day.


    About the Author

    turd [at] tfmetalsreport [dot] com ()


    Mr. Fix
    Feb 11, 2013 - 12:51pm
    Feb 11, 2013 - 12:53pm

    Demand is high everywhere

    Demand is high everywhere but the price keeps dropping, BTFD looks like my tax refund just got spoken for. Kind of crazy when the soviets are leading the way to structural fiscal /market integrity. Thanks Turd for more great info.

    Feb 11, 2013 - 12:54pm


    It's a thread-frenzy day!

    Mr. Fix
    Feb 11, 2013 - 12:55pm


    Who would have thunk it?

    (Sorry, I didn't intend a double post.)

    Feb 11, 2013 - 12:56pm

    Wow, Turd Busy today.

    And he has not even gotten to the Petrus Romanus post yet!

    Feb 11, 2013 - 1:00pm


    happy monday! is that a bounce off of 30.82/1645-6? too early to tell. here's hoping, anyway.

    Feb 11, 2013 - 1:03pm

    And I doubt I will

    Maybe sometime soon but not today.

    Anyone wishing to read upon their own, this wiki page pretty well sums it up:

    acer rubrum
    Feb 11, 2013 - 1:06pm


    If fix is first with double post, and Turd's post doesn't count, them I would be the 6th... like the soon to be released wood bison

    Feb 11, 2013 - 1:09pm

    Come on now Turd...

    It is indeed true that...

    "everyone who wants to buy has already bought".....

    BUT, what they are not telling you is that all the people who "don't know they want to buy have yet to buy"....

    The smart people have already bought. The sheep will follow...they have to, they always do. CB's, SWF's, BB's....they are loading to the gills despite paper machinations.

    The whole thing just warrants a big 'ol LOL!


    Feb 11, 2013 - 1:10pm
    Feb 11, 2013 - 1:11pm

    The Fed is Yellen.. Not so loud please,, that

    low prices allow unemployment focus..

    so we get a pop.. on what?

    I wear bifocul contacts and have a very hi res 17" Macbook pro so my vision looking straight at the screen stinks, plus my typing and spelling is even worse.. so there you have it..on my constant goofs.

    The Green Manalishi
    Feb 11, 2013 - 1:13pm

    Interesting status on Facebook from Mike Maloney

    Mike Maloney
    Facebook friends, we have a major announcement coming up. Hint, hint => The Federal Reserve won't like it :-)

    Might be nothin'

    Feb 11, 2013 - 1:20pm

    "we have a major announcement coming up"

    The Green Manalishi: " Might be nothin' "

    LOL. You eternal optimist.

    Feb 11, 2013 - 1:20pm

    That would be me Turd

    Not only did we get over two feet of snow with another one coming, but it is snowing right now.

    The Green Manalishi Bollocks
    Feb 11, 2013 - 1:22pm


    After listening to KWN for a few years you get like that.

    Feb 11, 2013 - 1:22pm

    Sylvia failed breakout

    And now could easily fall to 1660 or even 1600 before consolidating and trying again.

    Feb 11, 2013 - 1:23pm


    SI Daily: 30.55 area at the lowest floating parallel (same as old green trend line) should offer strong support, if that fails lower parallel line is currently about 30.00 area, never been support before but I'd really like to see a nice bounce off that to further validate fork. I currently have no SI positions.

    SI 240: Looks like currently 30.74 area may get support, but chart best for used for resistance, currently around 31.87 area, to either take off profits or open possible short position.

    Feb 11, 2013 - 1:23pm

    fuck that

    ...but I'm sure it's beautiful in the fall, when the leaves are changing...

    Feb 11, 2013 - 1:25pm

    Thanks, rtab

    On your top chart, I think we're going to hit that bottom fork blue line.

    Feb 11, 2013 - 1:26pm


    currently 74 and cloudy at treefrog manor, behind the spanish moss curtain.

    to quote sleazy willy, "ah feel yore pine." (not).

    Feb 11, 2013 - 1:29pm

    Chinese new year

    The party is still on in China.

    Last year, the same thing happened...remember?

    The markets in PM went flat line for a week... then pow.

    Texas Sandman
    Feb 11, 2013 - 1:34pm

    Brutal Paper Trading Today

    Almost completely trendless in the NY session. One sort of ok bearish trend to short, but aside from that, chop-chop-chop.

    I traded my little heart out to eke out a gain of a mighty $75 (loss of $25 after commissions).

    Very hard to make a buck in a market like this.


    Mr. Fix
    Feb 11, 2013 - 1:34pm

    Thanks for the weather report,

    I would not have seen that one coming. It looks like a trend. Might be a lot of storms.

    I just listened to the Jim Willie podcast, there is some new news in there, particularly as it relates to all of that “non-monetary gold” that the US exported recently.

    Seems like things are moving quickly.

    Thanks for all you do Turd.

    Back to work for me.

    Feb 11, 2013 - 1:34pm

    Nah, platinum is not going back to the 1600's

    You can sell the platinum phyzz for around 1800 right now or more online. The 1oz platinum maple leaf is actually going for 3000 dollars in England. Eff the paper price. Who cares!!!!

    Feb 11, 2013 - 1:42pm
    Feb 11, 2013 - 1:43pm

    Fed says focus still on job creation...

    Maybe they should take the focus OFF job creation and then we might have some jobs.

    With their interest rate manipulations, bubbles and busts have caused job destruction so thats what they need to work on..
    Let someone else set interest rates...

    Feb 11, 2013 - 1:55pm

    Fox news announcing Obama will announce another round of fed $

    Sorry can't find the link, but it was just announced that Obama in tomorrow's State of Union Address will ask for more federal spending on infrastructure and education blah blah blah.. Could this also be a reason for today's blatant manipulation?

    Feb 11, 2013 - 1:56pm

    If you're in the UK, grab some popcorn...

    BBC1 8.30pm tonight:
    Panorama - Inside Barclays: Banking on Bonuses

    Feb 11, 2013 - 2:00pm

    Financial repression rules . . .

    The markets are all geared for financial repression. ZIRP means fixed investments like CDs, MM, etc. are negative after taxes and inflation (by a long shot after real inflation).

    Nobody will be allowed to get rich in paper silver and gold. Even if it moonshots from these levels while holding paper representations of the PMs, the dollar depreciation will mean the fiat gains will quickly be meaningless.

    There are almost no ways to beat inflation in paper investments without huge risk (and tons of pure luck) in the house-owned casinos called stock and bond markets.

    The only way to beat the FR policy is to keep as little as possible in fiat to pay the bills; sell any paper asset available, and use proceeds to buy food, water, protection, and physical PMs.

    Feb 11, 2013 - 2:01pm

    ARe your kids bored playing old Extremely Violent video games?

    then run them down to Drones are Us.

    Yes, we have the latest real flying Drones that carry safe, M80 fire crackers which they can target their kids at school who bully them all the time..

    They will learn first hand from experts who use them to murder people who they think are enemies, with out do process of course.

    Yes Drones are Us..10% off sale going on now! Fly American!


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