Cutting Vacation Short

Wed, Feb 20, 2013 - 10:04am

This is relentless and unforgiving...and I'm not talking about MrsF.

So bad that I'm cutting my mini-vacation short. I still don't have time for a full post so here are two items for you to read this morning.

ZH has been doing an excellent job chronicling the consistent, daily destruction. Here's the latest:

And here's someone who has noticed some of the same "anomolies" that I have:

The charts, of course, look terrible. Having failed at hoped-for support, silver looks like $28 and gold, if $1580 fails, looks headed all the way back to the bottom of the 18-month range, near $1550.

This is all highly unusual and indicative of extreme manipulation and panic-level positioning. At the risk of sounding trite and reading like another KWN pumper, I must say it: THIS WILL PASS. THESE EXTREMES WILL BE RESOLVED SOON AND NEW UPLEGS WILL BEGIN. PLEASE BE PATIENT. THE FUNDAMENTALS ARE STRONGER THAN EVER AND PHYSICAL REALITIES WILL SOON REPLACE PAPER SHENANIGANS AS THE DRIVING FORCE BEHIND PRICE.

More later if possible.


About the Author

turd [at] tfmetalsreport [dot] com ()


Feb 20, 2013 - 12:10pm

Don't forget - March is a delivery month

I remember when I read that news thinking that if there is a pattern of beating down the gold/silver prices to discourage delivery, then logically the largest ever number of contracts standing for delivery must lead to the largest ever beatdown.

I considered selling.

Then I thought of all the times this has happened and how one day it won't happen the same way and by the time I get back in it will be too late.

Sit tight. Be right.

GalearisDr G
Feb 20, 2013 - 12:10pm

@ Dr. G.

I have been saying for months that this may be end game. The banksters know what is ahead - a potential runaway market in paper - and for all we know the hypothecation efforts are not keeping up with delivery obligations out of London.... But massive and daily interventions of this scale do imply panic. And once the crooks start this level of control, they have to keep it up....

What I have been calling their "Big Experiment". That they intend to keep doing this to keep the price down below the 200 dma implies that either they do have delivery problems already or some sort of decision was made to sacrifice the physical at this rate for the tranquil scene it shows to the public. That they are trying to REALLY intimidate buyers of paper metal is a given....So they can either do this minute to minute market rigging successfully until the factories start closing (i.e. ipad, Mercedes Benz), OR the paper buyers overcome the blizzard of naked sales I see happening in the months ahead. Or they continue to leave the arena. Whereupon the price of paper metal CONtinues to be sold at a discount.....One has to admire the genius of these people who are able to still win as the market itself expresses its own decline with that falling price profile...Sheeeshhhh!

Ok, I'm a walking, typing contrarian symbol, but surely that is their game plan...Whether they are successful or not is still a question in my mind. Keep in mind that the system can rig markets almost indefinitely with derivatives, that this is why they were invented. If you don't believe that markets can be controlled indefinitely then you don't understand that silver has been rigged for over 60 years now, and we are NOW watching why rigging of markets comes to an end eventually: BECAUSE THEY RUN OUT OF THE PHYSICAL COMMODITY. I suspect that IF this is the END GAME, they may be prepared to shut down the paper markets and use that cash out the shorts (JPM et al) plan.

As usual, I hope I am wrong.



Feb 20, 2013 - 12:11pm


Honestly, I don't care too much about folks that are just speculating - particularly the ones that are being rude to me here :)

However, I do care about folks that are stacking with every penny they have, and some that they don't. You know the ones I'm talking about, and I think sites like this enable them to get in to really bad situations. I read this site because I find the viewpoint fascinating (though personally unpersuasive), and I figure while I'm here I might as well be a voice of moderation.

Woody Mornings
Feb 20, 2013 - 12:11pm

What's that beeping?

Truck Back Up Beeping
Feb 20, 2013 - 12:11pm

Provident out of Junk..........

except for Franklin Halves.

So now the $64,000 question is are they out? Or just not willing to sell at these prices?

Feb 20, 2013 - 12:13pm


Welcome aboard to you also

Lots of newbs is a good sign and keeps it fresh.

The one thing I've come to realize is that many folks are in different stages of their awakening and awareness of many things even if its their first post. And while some of their questions and observations might seem challenging (especially on down days) that its important to recognize how our views or emotions have changed over time and how we felt during certain smack downs or radical price spikes.

Days like today leave me optimistic overall in the long view of things. Volatile action like this is what will drive an equal and opposite reaction that exceeds this period of stagnant consolidation. We will retest $1900 and we will hit $2000+ at some point.

Keep that mind whether your a newb, 'tweener or old timer. Today means nothing at all because we will retest and exceed those levels. Just not today.

Feb 20, 2013 - 12:13pm
ExbrokerDr G
Feb 20, 2013 - 12:15pm

The fundamentals

Hey Doc. I can tell you this for certain. It can't go to zero. What is happening here is the shit is hitting the fan in Washington. The entire place has a case of ADD. I just can't figure out what this thing is going to look like in April. We have allot of baby boomers retiring very soon. I'm one of them. Actually in August. Our money is not there. I just put in my order for 100 million 40 cal hollow points. I got the Govt discount. Twice the price a reasonable man would get in a free market. I will be selling those rounds on the Comex. I'll probably have a very large short position most of the time. I have some good advisors on my position. Some seasoned pro's who are looking to kill some time. Right now I have a contract with Berny Madoff and Michael Milken. If you can think of any other finance geniuses', give me a jingle. You can get ahold with me at www.

Have a nice day. I'm looking forward to your responce.

Best Regards,

Ex Broker

Feb 20, 2013 - 12:15pm

Blythe is in the black hood

And kevin bacon represents Turdville

Kevin Bacon - Fraternity Paddle
Stack'em High
Feb 20, 2013 - 12:16pm

Ignore user feature...

Any way to keep it from reloading back to the first page?

I've lost my damn spot about 15 times over the last couple of days...

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