Can The Deniers Deny This?

Sat, Apr 5, 2014 - 7:04am

With expectations having been raised so high for today's BLSBS, it was no surprise that the number "disappointed". Anticipating this, late yesterday we suggested one of two possible outcomes. Lo and behold, we got both!

Again, what continues to amaze me is the amount of purported "analysts" who claim that gold and silver trade in "free" and "fair" markets, utterly unaffected by the manipulation so clearly and demonstrably present in equities, treasuries, currencies and LIBOR. The only conclusion I can draw from those who deny metal manipulation is that they are trying to curry favor with the establishment and the mainstream media. Perhaps these folks hope that, in denying the ever-present hand of manipulation, they'll get on CNBC and/or Bloomberg and get some free PR for their sites, funds and management services.

Perhaps those who deny the manipulation can explain the charts below. Does this correlation simply happen by chance or, perhaps, is something more sinister at work?

You may recall that the BLSBS reports for January and February also "disappointed". Expecting another "disappointment" today, I went digging through my chart archives last evening and reposted the charts below. The expectation was that one of these two bank trading patterns would emerge today following the release of the NFP report at 8:30 EDT.

Would it be this pattern from the January 10th release of the December report? Here we see a rally that is capped at the always-important 1% level.

Or would we have the pattern from February 4th, where price is slammed backward and held down until after the London PM fix?

So, here's today's chart. I'll let you decide which pattern emerged, mindful that these are completely fair markets, free and devoid of bank manipulation:

And now here's a stunner. We actually got The Combo Pack! For once the London PM Fix was in, price was allowed to surge higher. On this updated chart, do you see any similarity to February 4?

Meh...whatever. Let the deniers deny and spin their head-in-the-ground deceit. You and I just need to recognize all of this for what it is and continue to prepare accordingly for the day when it all finally falls apart and the lies are revealed.


About the Author

turd [at] tfmetalsreport [dot] com ()


Apr 4, 2014 - 12:11pm



Apr 4, 2014 - 12:11pm

Double the effort

1st double down in a single day.

Apr 4, 2014 - 12:13pm

And please, save me the

And please, save me the "correlation does not equal causation" bullshit. All deniers, please stick to the charts and try to offer logical explanations as to why a dope with a Macbook can predict the market 12 hours in advance.

Apr 4, 2014 - 12:15pm

Friday the 4th

But I'm still third!

Sparks fly out my ass
Apr 4, 2014 - 12:18pm

Gotta hand it to ya Turd

Your GOFO rate vs gold price theory is holding up well (even on a day like today). Kudos

Apr 4, 2014 - 12:20pm

Pakistan refuses to sell $2.7b worth of gold says IMF

Pakistan refuses to sell $2.7b worth of gold says IMF

Global lender had asked countr­y to sell gold to increa­se forex reserv­es.

By Shahbaz Rana Published: March 29, 2014


Pakistan has refused to sell gold worth $2.7 billion, citing national security reasons, as the International Monetary Fund (IMF) pushes Islamabad to convert the precious metal into cash to build foreign currency reserves, revealed the global lender’s report on Friday.

The report, prepared by IMF’s staff led by its Washington-based Mission Chief to Islamabad Jeffrey Franks, also spills the beans on the ‘$1.5 billion gift’ to Pakistan by ‘Saudi Arabia’ – the name Prime Minister Nawaz Sharif’s government has so far refused to officially share with parliament.

According to the report, the State Bank of Pakistan (SBP) holds over 2 million troy ounces of monetary gold, having $2.7 billion value at market rate. It is not counted in gross international reserves as it is not deemed to be liquid by the SBP, says the IMF.

The IMF and Pakistan authorities discussed what steps would be needed to make gold more liquid, the report adds. “However, the (Pakistani) authorities stressed that they have no plans to sell gold and preferred existing arrangements for gold holdings for national security reasons.”


National Security means NOTHING to the IMF....ask the Ukraine of which Jeffrey Franks runs his own Loan program for. How come all the guys responsible for RAPING entire Countries are all from the same Schools, Harvard Princeton and Oxford? Blythe Masters came from these schools too.

Sparks fly out my ass
Apr 4, 2014 - 12:23pm

Thank you

The correlation certainly seems undeniable at this point. Just yesterday, I updated the original chart:

No doubt we're onto something here and I'm glad that more people are recognizing it. Selfishly, I just wish that TFMR would get some credit when this phenomenon is written about and discussed.

Apr 4, 2014 - 12:30pm

by jove

I think he's got it.

"a theory can be proved by experiment, but no path leads from experiment to the birth of a theory"

Albert Einstein

edvardd Hagarth
Apr 4, 2014 - 12:44pm

@Hagarth see Comment

There are many rumours that Saudis have bought a nuke from Pakistan. They cost about $1.5 billion....

Apr 4, 2014 - 1:06pm

Disappearance of news of Flt 370 disappearance . . .

MSM is no longer talking much. Maybe this is why:

Now that it has been figured out, the western media go mum. Elite hope it will all be forgotten soon.

Groaner ancientmoney
Apr 4, 2014 - 1:48pm

Boeing puts remote controls systems in all their new planes.

Just like the car industry when people are late on their payments they send out Hoods to repossess them. So the airlines better keep up their payments. We are going to hear more crazy stuff going on.. This is just the start.

Apr 4, 2014 - 1:50pm

Lmao @ The Combo Pack

The manipulators probably play a little game among themselves before "determining" the shape that the gold chart *will* look up on days like these.

Banker A: How do you want the chart to look like today before and after the BLSBS? You have a choice of Combo 1 to 6.

Mr. Dimon: I'll take Combo No. 4! Been awhile since we've used that one; let's change things up and throw 'em a twist.

Apr 4, 2014 - 1:51pm

Turd, good points

I wonder how much Traitor Dan is getting to go along with the scam?

Can't believe they got silver under $20 now.. duhh,

Surfista Plateado
Apr 4, 2014 - 1:55pm

Credit is Due..

Thanks Turd for helping us all stack more metal for less fiat. I can't get away with a subscription just yet but I enjoy making the most of what you do reveal to the rest of us.

Obviously the GOFO is a good barometer.

Between that and your other comments I managed to find the bottom Tuesday afternoon!

Apr 4, 2014 - 2:05pm

Jim Willie's latest . . .

All the events coming fast and furious the last two years, and especially the blow-ups in Libya, Syria and Ukraine tell me he is correct--it is coming.

Motley Fool
Apr 4, 2014 - 2:07pm

Because it's true....

correlation does not equal causation. :P

Hmm. If market sentiment is the current driving force of market moves, does similar sentiment result in similar moves?

Hagarth edvardd
Apr 4, 2014 - 2:13pm

@edvardd They already have a few

Though I have no proof they have them, just a postulation on my part but for the amount of power and influence..holding a seat on the Federal Reserve Board Rountable etc...why wouldn't they have them?

For those that missed this:

Kyodo News International February 19, 2014 6:16am

Japan, Saudi Arabia to promote talks for civil nuclear pact

Japan and Saudi Arabia agreed Wednesday to accelerate bilateral talks for a civil nuclear cooperation accord that would enable Japanese manufacturers to export reactors to the Middle East country.

The agreement came as Prime Minister Shinzo Abe met with Saudi Arabian Crown Prince Salman bin Abdulaziz Al Saud in Tokyo, where they also agreed that the two countries should enhance security cooperation through dialogue between their foreign and defense officials, a Japanese government official said.

"I would like to strengthen further the comprehensive partnership between the two countries," Abe said at the start of the meeting. The crown prince, who is also deputy prime minister and defense minister, responded by saying he will seek to "further develop the existing cooperative relationship."

The two countries also signed a memorandum on cooperation to facilitate mutual corporate investment.

During their meeting last April in Saudi Arabia, Abe and the crown prince agreed to start preparatory talks on a civil nuclear pact before launching full negotiations as early as this spring.

Japan has been in talks for similar accords with other countries such as India as part of efforts to increase exports of Japanese infrastructure. A civil nuclear accord sets a legal framework to prevent any diversion to military use when a country provides civil nuclear technology to another.

Abe also briefed the crown prince on Japan's policy of proactively contributing to peace in the Middle East and elsewhere in the world, based on the principle of international cooperation. The crown prince expressed his support, according to the Japanese Foreign Ministry.

The two assessed progress on bilateral cooperation in areas such as ensuring the safety of sea lanes to transport crude oil from the Middle East and countering terrorism. Saudi Arabia, one of the world's biggest oil producers, has promised stable supplies to Japan.

Ahead of the meeting with Abe, the Saudi crown prince also met with Emperor Akihito at the Imperial Palace.

Apr 4, 2014 - 2:36pm

Fair warning-

Just a quick note of caution, gold and silver have developed a nasty divergence in the last few hours, silver has given back nearly all of its gains today:

Sop this is a note of caution- when this has happened before it often presages a short-term gain that is not held, and the "higher metal" often falls to meet the lower one, not vice-versa. Traders who missed this run-up might want to wait for price to come to them rather than chase. As always, jmo.

Apr 4, 2014 - 2:42pm

Yes, I agree, CNBS is... used only for the NFP Report.

The rest is too annoying and/or nauseating....

Pining 4 the Fjords
Apr 4, 2014 - 2:44pm

To Pining's point

A rather determined effort to use the light-volume Globex to shove silver back UNDER $20.

Apr 4, 2014 - 2:50pm

Equities tanking

Heavy on everything. It is amazing that PMs and miners are doing so well....this is very much like 2000/2001 in my the Fall of 2000 the nasdaq was over late Spring 01 it was 1500...Hui went from 35 to 70......big money was made in selling short the nazz, but miners weren't too shabby...

Apr 4, 2014 - 3:13pm

Russia says it is attacking petrodollar . . .

Willie's inside guy must have told him about this. Of course, its been in the making for a looooong time.

Apr 4, 2014 - 3:17pm

more states rights tbeing taken away over GMO

just a heads up to those who want to keep up with Koch, Monsanto, and the puppets to ban GMO labeling.

New law being introduced to take away states rights.

Rep. Mike Pompeo will introduce legislation backed by powerful trade groups to prevent states from passing laws requiring the labeling of genetically-modified foods, according to reports. The bill is linked to biotech giant Monsanto and Koch Industries.

Apr 4, 2014 - 3:17pm

Watch this level closely

Close below 1857.62 on S&P cash would be a red bar on the weekly, and a HUGE ORD candle on the daily. In one session, they made marginal new all time highs then gave back the entire gains of the week.

Looks like miners selling now in sympathy to the equity market.

Apr 4, 2014 - 3:20pm


also for those who might have missed this from 2006....

Boeing last week received a US patent for a system that, once activated, removes all control from pilots to automatically return a commercial airliner to a predetermined landing location.

The “uninterruptible” autopilot would be activated – either by pilots, by onboard sensors, or even remotely via radio or satellite links by government agencies like the Central Intelligence Agency, if terrorists attempt to gain control of a flight deck. ...


Apr 4, 2014 - 3:23pm

Speaking of charts

Peak Bubble 2.0: The Market Is Now Exactly As Overvalued As It Was At The Last Bubble Peak

According to this chart from JPM the market's forward P/E ratio now is precisely 15.2x. What was it at precisely the last bubble peak on October 9, 2007? 15.2x.

Everyone knows what happened next.

Apr 4, 2014 - 3:47pm

corrupt elected gun control zealot

this clown heralds no media attention , oh he must be a progressive demoncrat

this turkeyneck Yee has earned a water boarding. funny Holder didn't put a firehose on the investigation, probably needed an unwilling stooge to take one for the good of the party.

Apr 4, 2014 - 3:49pm

Latest GOFO chart

I am still trying to format a nice chart for us to watch. Best I can do this far.

I did not include the price of gold since I figure we are all too familiar with it already.

In the chart below, I see that the last time we had a steeply falling GOFO rate like this, we took a sharp upturn in AU within a few days.

Apr 4, 2014 - 4:02pm

Got to love Obamacare

Happy New Year America

Here is what happened on January 1st 2014:

Top Income tax bracket went from 35% to 39.6%

Top Income payroll tax went from 37.4% to 52.2%

Capital Gains tax went from 15% to 28%

Dividends tax went from 15% to 39.6%

Estate tax went from 0% to 55%

Remember this fact: if you have money, the democrats want it. These taxes were all passed only with democrat votes, no republicans voted for these taxes.

These taxes were all passed under the affordable care act, aka Obamacare.

Apr 4, 2014 - 4:15pm


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