Price Stabilization is a Manipulation; How High It Goes is Now Public Information

Sun, Jul 20, 2014 - 11:53am

Let us look at the process of forecasting the future for a moment.

A train arrives at the destination station, after it leaves from the departure station, there is a gap of time allocated for the journey. Forecasting arrival time is relatively easy provided time of departure information is available.

I think it might be said I have a 99%+ chance of a successful forecast.

Let us now develop this idea but making things a little more difficult.

Two cars leave from the same place at the same time, in a race. But they may take any route the drivers choose. We know the distance in total, and can make a reasonable guess as to when they may arrive. But there are gaps in the information available. Which driver is the faster of the two? Which driver knows the roads better and will choose the route which gets a balance of shortness of distance, and avoiding trouble spots for traffic?

This time a forecast as to when they will arrive is tougher than the trains question. But I can have a go, and knowing the drivers abilities, let’s say I get it right 75% of the time.

Next question: given the same two race drivers above, but now there is an extra complicating factor:

Each driver must fill his fuel tank to complete the race. But the filling guy may choose loyalty to one of the two drivers, and is going to fill up the tank of the one but will deny fuel to the other!

Aaah! Now my chances of forecasting successfully have fallen to 50%, which is no better than random. Oh well, at least it’s random! I could win every second time like a flip of a coin.

So now I go down to the bookies to place a bet that I will win the forecasting challenge. I can expect to win half the time, so it's cheap entertainment! While I’m waiting in the queue to place my bet, I happen to notice the fuel guy is also waiting to place a bet himself. Actually he’s standing behind me in the queue!

Chances of success .... zero!

Let’s break it down:

A battle of skill speed and power. I was doing fine.

Add shifting sands of loyalty, I was still in with a chance.

Add loss of priority of access to essential information with that knowledge available to an opponent ... no chance.

OK so let’s change the subject. Anyone for trading the stock market? Gold? How about silver? Anyone?

If we stop placing bets, betting margin income is falling for the bookie as a result of reduced turnover, so he reduces his margins. It’s cheaper to bet now. Any takers? Hey! You! The new guy over there! Come over here! I have an amazing opportunity to tell you about ...... oh yes, bring your money too!

 Here is a recent development which has similar overtones:

CME Group Cutting Margins For Gold, Silver, Copper Futures

Now it is an interesting question why the CME would be experiencing falling volume of trading? Surely it can’t be due to a perception, spreading, that the dice might be loaded in a way fatal to their client customer investor-traders?

There are a multitude of ways that could happen. But here is just one for today. Since it goes to the top I think it deserves prime place for our attention.

In the light of the above everyone not already aware about this should have a darned good read of this report:

The Fed in Danger

So Fed Chair Janet Yellen - the Head of The Fed meets the Secretary of the Treasury weekly.

Given the Fed's QE, That’s the biggest buyer of bonds meeting the biggest seller of bonds.

And interest rates, the yield of those bonds, forms the basis for calculating the value of everything financial, every single thing! "Stabilized" (to use their euphemism) interest rates = manipulated everything!

And they won't say what is discussed!

It's bizarre that it's so out in the open.

 Are you still so sure you want to play those markets now?

Take delivery. Remember Jim Sinclair's advice about GOTS! Expect these people in the global Central Banker-Government partnership to change the rules whenever they see fit to achieve their ends.

Best regards!

Argentus Maximus

The author posts daily commentary on the gold and silver markets in the TFMR forum: The Setup For The Big Trade. More information about the author & his work can be found here: RhythmNPrice.

About the Author


Owtovit · Jul 20, 2014 - 12:20pm



​nice read 

Wizard · Jul 20, 2014 - 12:34pm

Could Not Agree More

G.O.T.S. (Get Out of The System) seems to be the best advise of the last decade. Life is much calmer out here. wink

Very well put together perspective of how dangerous and stacked against the average person the markets are.


treefrog · Jul 20, 2014 - 1:36pm



procog · Jul 20, 2014 - 2:06pm

A/M, beautiful in simplicity.

Clarity is one of your forte's, among many others. Thank you for all of your valuable contributions to us Turdites.

boomer sooner · Jul 20, 2014 - 2:32pm

Thanks AM, I especially liked

Thanks AM, I especially liked the last paragraph of the Sun's article. Maybe a level under the .1% will start to make waves for change. Since the bottom is being satisfied with handouts, the ire of the middle is where the smoke becomes fire.

Feature, after all, the remarks in May by Paul Volcker, Mrs. Yellen’s illustrious predecessor. He reprised the era of fiat money that has obtained since the collapse of Bretton Woods in the 1970s and declared: “By now I think we can agree that the absence of an official, rules-based, cooperatively managed monetary system has not been a great success.” Surely Mrs. Yellen must know that there are millions of Americans who are coming to comprehend the truth of Mr. Volcker’s words and are growing impatient with the Fed Congress created.

SS121 · Jul 20, 2014 - 3:04pm

"Manipulation" legalized in the 1930s

A "system" born out of deception and founded on fake money, and in which "manipulation" of all things within the system was declared legal...

Excellent points all A.M.! Especially that now the interest rate chart is an admitted fake. Man, this is gettin good! 

ed. silver eaglesilver eaglesilver eaglesilver eaglesilver eaglesilver eagle 

DeaconBenjamin · Jul 20, 2014 - 3:20pm

Ankara proposes free trade plans to Russia

Ankara has put forward a plan to form a free trade zone with the Customs Union of Russia, Belarus and Kazakhstan, the Russian economy minister reportedly said after holding talks with his Turkish counterpart, amid Turkey’s mounting frustration with the European Union over a similar scheme.

During the G-20 trade ministers meeting in Sydney, the Russian Economic Development Minister Alexei Ulyukayev said that the Turkish Economy Minister Nihat Zeybekci had proposed in establishing a scheme that would lift trade barriers between the two parties, according to the Russian news agency RIA Novosti.

“We have discussed the possibility of cooperating [with one another], including the formation of a free trade zone between the Customs Union [Russia, Belarus and Kazakhstan] and Turkey. We have agreed to create a working group and to begin a more detailed discussion of these possibilities and prospects in September [this year],” Ulyukayev reportedly said.

The Customs Union between Russia, Belarus and Kazakhstan, was launched as a step towards forming an economic alliance between the former Soviet states.

Turkey has been expressing its frustration over its Customs Union alliance with European Union, arguing that the Transatlantic Trade and Investment Partnership (TTIP) scheme between the U.S. and the EU would cause great damage to its economy if such a deal were to be reached.

Nevertheless, the U.S. has repeatedly mentioned that it would prefer if Turkey were to join a U.S.-EU trade pact by agreeing on a scheme with the latter.

The trade volume between Russia and Turkey amounted to $32.7 billion in 2013 with Russia now becoming Turkey’s second-largest trade partner after the European Union, while Turkey ranking eighth among Russia’s foreign trade partners. 

RIA Novosti also reported Zeybekci as proposing to renew talks on using national currencies in bilateral trade to curb dependence on the U.S. dollar.

· Jul 20, 2014 - 3:22pm

Excellent, AM!


DeaconBenjamin · Jul 20, 2014 - 3:29pm

China, India driving force behind BRICS

Prime Minister Narendra Modi with Chinese President Xi Jinping.

Prime Minister Narendra Modi with Chinese President Xi Jinping.

By Wei Wei

Against the background of a stable recovery of world economy, the 6th BRICS leaders meeting from July 15 to 16 at Fortaleza, Brazil, with the theme of Sustainable Solutions for Inclusive Growth, is definitely among most important international events in the second half of this year. It is also an important event for China-India relations since President Xi Jinping of China has had his first ever meeting with the new Indian Prime Minister Narendra Modi on the sidelines of the summit. The BRICS has become an important force in coping with the international financial crisis, in driving global economic growth, and in promoting democratisation of international relations.

When the global economy was bogged down in the worst financial crisis since the Great Depression, it was the BRICS, with stable economic growth of its members that carried forward the spirit of solidarity, injected hope into the market and prevented the global economy from falling apart. The BRICS countries are not only building upon their own strength, but also make efforts to help others. Despite the financial need for their own economy, BRICS contributed a total sum of $180 billion to the International Monetary Fund in two rounds and the efforts were well commended by the international community.

BRICS is highlighted by pragmatic cooperation in major projects. The BRICS New Development Bank (NDB) and the Financial Contingency Reserve Arrangement (CRA), which were first initiated during the 2012 BRICS summit in India, has become reality in the Fortaleza summit. The NDB and CRA will not only benefit the BRICS countries, but also provide finance to infrastructure projects in emerging markets and other developing countries. It is also aimed to assist them to better withstand risks from international financial turbulence.

Other key economic cooperative projects such as joint financing by respective development banks, cooperation among industrial and business enterprises and the economic and trade liaison group will also inject new momentum for development of the BRICS countries.

As the world's two most populous and largest developing countries as well as the founding members of the BRICS, China and India are firm supporters and active participants of the cooperation among the BRICS countries, and always take cooperation with other BRICS countries as one of the priorities in their foreign policy. China and India are also good neighbours, good friends and good partners that have established a strategic and cooperative partnership for peace and prosperity. Both countries are now facing a historical mission of growing the economy and improving people's livelihood. The China-India bilateral cooperation and their cooperation under the BRICS framework are complementary to each other.

Our major projects include the BCIM Economic Corridor, the Chinese-style industrial parks in India, railway cooperation, and initiatives of the Silk Road Economic Belt and cooperation along the 21st Century Maritime Silk Road. We are also working for a "Trans-Himalayas Economic Growth Region" driven by double-engine of China and India. All the cooperation can be benefited from the BRICS cooperation mechanism. China and India should establish a closer partnership of development to promote more integration of market, greater financial linkage, better connectivity of infrastructure as well as closer people-to-people contacts, and thus to bring our people tangible benefits.

boomer sooner · Jul 20, 2014 - 3:34pm

New silver technology

“Metal mesh, sliver nanowires, and other new materials will be used in the production of larger displays with better sheet resistance at affordable prices, and these new materials might be used for curved or flexible-touch sensors soon,” said Shoko Oi, deputy director of touch panel and emerging display research for NPD DisplaySearch.

SilverRunNW · Jul 20, 2014 - 4:25pm

A little BASS fishing...

Always worth a quick listen to Kyle Bass.

Mauldin Economics interviews Kyle Bass
· Jul 20, 2014 - 4:26pm

When to change?

At some point here, it seems wise to invest every dollar I have in metals. But my wife and I have an entrepreneurial streak that goads us to invest part of our extra in something that will earn more. This month it is a kitchen product she can sell on Amazon.

But reading your article here, Argentus, reading Sinclair, reading about war news in Ukraine and the Mid-East, all pressures me to think that we should simply buy more metals or products that will directly help us live through a tough economy.

This past few days I have been on the road to Ohio where I am inspecting my rental houses and helping a friend make improvements on his new home. I have tried to simply read the "official" news and avoid ZH or even much on this site. But even the national news in the US has undertones of trouble. Your article here, Argentus, inspires me to take every bit of extra fiat we have and invest for a troubled future, not a normal one. We hope to sell out our Ohio properties and then dig in for some degree of a collapse as quickly as we can. But you know, we have two young adult children who are just trying to make it as adults. We do not wish to instill pessimism in them. They need hope for the future. We are still seeking a path that gives them hope, but without committing to investing in the current doomed system.

I just don't think this system will last that long in its current form--perhaps we will see quick changes that bring major shifts in the world economies.

SamSchlepps · Jul 20, 2014 - 4:49pm

FYI - BRICS agreements - apologies if posted previously

Also in plain view - Special Funds - plural

Article 23 – Special Funds

a) The establishment and administration of Special Funds by the Bank shall be approved by the Board of Governors by a qualified majority and shall follow the purposes set forth in Article 2 of this Agreement.

b) Except when the Board of Governors specifies otherwise, the Special Funds shall be accountable and its operations subjected to the Board of Directors.

c) The Bank may adopt such special rules and regulations as may be required for the establishment, administration and use of each Special Fund.

meegoreng1 · Jul 20, 2014 - 4:52pm

Very easy to determine MH17 loss.

Who benefits from this tragedy? Rebels...LOL! Now Ukraine will get all the help they need to fight the separatists.

Who benefited after 9/11. Afghanistan? Iraq? LOL!

It was the govt and corporations of US, Israel and Saudi Arabia that benefited the most.

There's your culprits again!

sierra skier Doctor J · Jul 20, 2014 - 5:19pm

Dr. Jerome

We too have a young adult a couple of years out of college and he struggles to try to understand why TPTB are doing these terrible things to our economy. High paying jobs are difficult so he has come back to our small mountain community to work at our ski area marketing dept. Not exactly a carreer move but he is earning a living through his major.

He keeps wondering if he is doing the right thing and we encourage him to continue with his current path and increase his skills. He works, recently joined our local Search And Rescue team to train and increase skills, hunts, shoots, bow training, fishing and all manner of back country stuff.

He stays busy enough now that he dwells less on our economy and society but it still bothers him and he feels that the world has not given him a fair set of opportunities to have a successful career and get ahead in life.

The best we can do is to point them in the right direction, support their decisions and encourage them to do what is RIGHT even if half of the population is headed in the WRONG direction and keep up the good work. It is truly important to let them know we support,stand behind them and their hard work will lead them in the best direction even in our troubled world.

question Doctor J · Jul 20, 2014 - 5:20pm

Dr Jerome

"But you know, we have two young adult children who are just trying to make it as adults. We do not wish to instill pessimism in them. They need hope for the future."

an incantation to offset the pervasive belief in progress eternal, our national religion

"There is no brighter future ahead"

Teach your children well; I know you have. They'll find their own hope.

· Jul 20, 2014 - 5:22pm

Sierra, Sounds like you are


Sounds like you are advising him well.

Question, Good advice--yes, they'll have to find their own hope. I cannot give it to them. Perhaps I can persuade them that it is there somewhere.

Markedtofuture · Jul 20, 2014 - 5:36pm

GATA needs help, so please consider buying a T-shirt

Submitted by cpowell on 09:02AM ET Sunday, July 20, 2014. Section: Daily Dispatches
12:14p ET Sunday, July 20, 2014

Dear Friend of GATA and Gold:

Challenging all the money and power in the world, GATA long has operated more or less on a shoestring. This has largely been our own fault, insofar as we have put most of our effort into research and clamor and little into fundraising. The situation has gotten critical over the last year as central banks have intensified their efforts to suppress monetary metals prices, most of the monetary metals mining industry has chosen to curl up and die guietly rather than fight back, and metals investors have suffered serious losses.

Since we're fanatics in pursuit of free and transparent markets, limited and accountable government, and fair dealing among nations, we're not discouraged at all. We have evidence that our work has had a substantial impact, influencing government policy and market opinion around the world despite a blackout in the mainstream financial news media. And it is a bit of a triumph for us that central banks intervening against the monetary metals have had to give up all subtlety for their interventions since April last year. They have gotten more scared of losing control of the markets they have been rigging than they are scared of getting caught, but the more they are caught, the less effective their rigging will be and the more likely they will be to lose control completely.

GATA means to keep pressing them and we don't need a lot simply to stay in business and keep the flag flying. We don't have the expense of the World Gold Council's lovely offices in downtown London and its many highly paid employees. We can continue to operate on the electricity, telephone, and Internet service in our executives' homes.

But our officers do make considerable sacrifices of their time -- they are stuck in this struggle for its duration -- and with more resources we can do more research, support the work of our consultants, make more presentations to the people who most should learn what's really going on, undertake more lawsuits, and strike more blows for the cause.

This is not a general fundraising appeal. Our side is probably hurting too much for that and we're not going to keep exploiting our best friends. Rather, it's just the preface to our announcement that a hundred more GATA T-shirts are available for sale at $30 each, plus a small shipping charge, thereby facilitating smaller contributions that will give donors a little tangible evidence of their support.

The shirts are emblazoned with the colorful GATA painting by Alain Despert and are available in medium, large, and extra-large sizes. If we sell them all, we'll recover the cost of their manufacture and our merchandise fulfillment house's processing cost and come out ahead by a thousand dollars or so.

They can be viewed and purchased by credit card at GATA's Internet site here:

And if you don't want another T-shirt cluttering your closet but still would like to help GATA, please visit:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

Markedtofuture · Jul 20, 2014 - 5:38pm

Thanks for posting that

If GATA needs help, we all should try to do what we can. They certainly do A LOT for us.

Just ordered mine!!

Order Details:

-------------------Payment Information---------------------

Card Type: visa

--------Cardholder Billing/Shipping Information------------

First Name: C
Last Name: H
Street: ******
City: ******
State: ******
Zipcode: *****
Country: USA
Email: tfmetalsreport[at]gmail[dot]com (tfmetalsreport at gmail dot com)
Phone: ***-***-****

---------------------Order Summary-------------------------

Item Subtotal: $30.00
Shipping Cost: $3.95
Includes 0.00 sales tax (if applicable)

Bollocks · Jul 20, 2014 - 5:54pm

Speaking of Kyle Bass...

I'm reminded of an interview with the BBC from about 2 1/2 years ago, which probably hasn't been seen by many Turdites outside the UK.

This is well worth a watch. It takes a good few minutes to start to really unfold, but see how he responds to the questions posed by the BBC - attempting to discredit his message - with clear-headed intelligent replies.

Cracking stuff. Oh, and Dr Jerome, with reference to your "When to change" post above - perhaps check it out too.


Markedtofuture TF · Jul 20, 2014 - 6:00pm

Thanks for posting that

@ Turd 98 to go.

GATA has been there through thick and thin when it comes to exposing the cabal.

Those T- shirts will become a collectors item.

AlienEyes · Jul 20, 2014 - 6:18pm

Woe Is Us

We live in an interesting time....and in an interest free environment. By that I mean banks no longer pay interest on accounts and by that, I mean any pittance a bank pays for deposits is lower (much lower) than the rate of inflation.

Our masters / monsters in DC have essentially told their subjects / suckers that, “We OWN your arses and you are powerless to stop us”. Corruption is now fully institutionalized in what is left of our political system. Our educational systems are a sick joke and all the world is laughing at our overt, mindless stupidity. Our government is now a known and accepted group of professional lying idiots. We endlessly complain about our government but we are not able to correct the problems because a majority demanded and voted for the pathetic joke we are now governed by.

We are truly, "self fooked"and on a scale that boggles the mind. The scale is intended to put the facts beyond the ability to grasp by our citizens with IQ's between 90 and 110 plus all that fall below 90 and there are millions of them. A fact that is now almost a crime to mention is that although 100 is set as normal, 100 now reflects an IQ far below what an IQ of 100 meant in 1940. In other words, an IQ of 100 = average.... and that average changes every day. Here's why. Importing 10,000,000 poor, helpless foreign refugees with an average IQ of 80 or less will and has lowered the national average IQ of 100 by pulling down the national average. This results in people that had an IQ of 110 in 1950 now have an IQ of say 125. They are not really any smarter but the number of people that are drooling half wits has increased. Dumb sh!ts make excellent, dependable voters. 

The old advice to, “buy (stocks) when blood is running in the streets” was quite valid at the time. The advice is still useful IF it’s meaning is tweaked to match our current set of circumstances. By that, I mean that the “blood in the streets” needs to be clearly identified as the blood of banksters, lawyers and politicians. If enough blood-sucker blood is spilled it will have the same effect as worming a dog. We need to rid ourselves of our massive infestation of blood sucking parasites. Anything less will fail to remedy our sad state of circumstances.

Edit :

I should include the IRS and its minions since they are state of the art blood suckers and proud of it.

Marchas45 · Jul 20, 2014 - 7:16pm

Great Thread AM

I'll never play the market until it's honest again and only the Miners at that. I'm a Stacker and an American, Oath Keeper, former Viet Nam Vet, Police Officer, an alien that became a Citizen and I will never leave this country but defend it and yes die for it for the Freedom that was given to me by God not a Human Being.. Wherever you go you take the same baggage with you. Sheee got that out, Keep Stacking

Video unavailable
DayStar · Jul 20, 2014 - 7:50pm

Harvey's Up! (TFMR)

Harvey's Up!

  • Mark O'Byrne: Gold dipped 0.4% on profit taking today but is likely to be supported by a wave of risk aversion after the airline tragedy. Stocks fell and Brent oil climbed above $108 a barrel, extending sharp overnight gains amid heightened geopolitical concerns over the Ukraine and in the Middle East.
  • Eric Dubin: Bill Murphy believes that during the first half of 2011 JPM was buying physical silver on the ride up to nearly $50. But at the same time, Murphy believes JPM was selling short an order of magnitude larger net position in the derivatives market. Once the momentum peak hit, JPM cashed in as its derivatives position generated profits far in excess of losses on JPM’s physical silver. JPM waited until the market turn and then piled-on with physical sales. Murphy believes JPM’s physical silver hoard has likely been sold into the market in full, leaving JPM with one less tool to affect price suppression. This would partially explain why silver has been trading differently in the past few months, at times leading the precious metals market higher. Leading up to last Friday’s show we witnessed a handful of rare failures in typical cartel patterns suggesting the cartel was having a heck of a time maintaining silver in the low $20s. For example, on July 11th mining shares were beaten down in what looked like a common cartel signaling move — but bullion failed to sell-off the next day. Mining equities tend to lead bullion prices up and down. In the last month we have also seen rare follow-through days on price advances for silver and gold — another breakdown in typical cartel patterns.
  • Harvey: Today we have 1 big huge story which will have a considerable impact on gold and silver and that is the bankruptcy protection for Portugal's BES bank's parent. The bankruptcy will probably trigger derivatives. GLD: Gold had a big gain of 1.8 tonnes of gold inventory (tonnage now 805.14 tonnes). SLV: There was no change in silver inventory at the SLV and it stands at 10,038.52 tonnes. GOFO is positive and the rates were basically unchanged.
  • GoldCore: The greatest wars in history all started with someone somewhere having an idea, taking liberties (often literally), taking advantage of their neighbours, imposing their economic and military might on less powerful countries. It is when such actions go unchecked for too long and peaceful solutions are not genuinely sought that wars start. As Sir Winston Churchill said “to jaw-jaw is always better than to war-war.” 'Archduke Ferdinand' Moment? Drums Of War Grow Louder In Ukraine and Middle East Geopolitical risk is very high today and yet it is not appreciated by experts and the majority of the public . The same was true in 1914. Very few thought that the assassination of Archduke Ferdinand would be a spark that ignited the brutal war that was World War I and the attendant economic depression. Indeed, as the Financial Times front page from the day after the assassination shows, stock markets were “scarcely affected by the assassination of the heir to the Austrian throne... there's no evidence that stock holders took fright." Complacency reigned about the geopolitical risks. Six months later the Dow Jones Industrial Average was 35% lower and World War I was in its first year. There is always a catalyst in the form of an event in history which people look back on as the start of tremendous global turmoil.
  • Jeff Nielson: Western governments around the world are venturing down a path that puts the savings of its citizens in peril. I am of course speaking of the dreaded bail-in. Bail-ins made their debut last year, when the crisis in Cyprus began to crescendo. The government of Cyprus pulled off a heist that had bankers around the world frothing at the mouth. Their hardest working citizens, the savers, were left holding the bag. The money you put into the bank is not yours. You are an unsecured lender to the bank. A lender that the banks could care less about. They take your money and loan it out a hundred times over. Banks only need to keep 3% to 5% of cash on deposit. A shockingly low percentage. What happens when the next crisis hits? What happens when even a small fraction of people want to take their money out of the system? The answer is bail-ins. They are a reality, and they are here. Don’t fool yourself; protect yourself.
  • National Review: Go back to the days of Calvin Coolidge, and you find central bankers who pointedly tolerated no inflation. President Calvin Coolidge put it simply: “Inflation is repudiation.” Today, because of our national “repudiation” — or plain denial — of inflation, we tend to find that kind of trust only among good friends or family — and there only if you all can avoid talking about prices. People begin to doubt themselves when personal inflation experience does not align with official inflation data. Writers trying to describe the German hyperinflation of the 1920s often wrote of the “blow” of seeing currency go to nothing. Such blows were their own dramatic version of those little zaps. Which takes us to Rick Santelli's rant. What Santelli is really talking about is getting the Fed back to a point where it cares about inflation. If you study the last part of the video, where Santelli host gets bullied into silence by Steve Liesman, you’ll see the problem. The price today for talking about inflation is itself too high.
  • Jeff Nielson: With now $10’s of trillions of newly-printed “money” available to the One Bank every year, its bullion-bank tentacles can continue to hold enough units in these gold fraud-funds (GLD) to prevent the tremendously embarrassing (and damaging) complete annihilation of their paper-called-gold products. But ETF's use as tools of manipulation was predicated on using the money of chumps themselves to fund much/most of the bullion-banks’ manipulation of the gold market – and supply them with a stream of real bullion (which supposedly was “owned” by the chumps). Open interest in the (Western) gold markets recently reached its highest level since November 2012 – a 20-month high. Yet holdings in the bankers’ fraud-funds remain dormant. Total holdings of GLD have limped back toward the 800-ton level, but have not even begun to recover the 40% of total holdings previously lost last year. No chump-money (in the paper-called-gold market) means that the bankers will have to use their own dirty money (and different techniques/vehicles) in order to maintain their “hostage” status over the gold market. It’s only a small victory for truth and legitimacy in this sector, but it’s a start.
  • Bloomberg: Espirito Santo International, a holding company that’s part of Grupo Espirito Santo, requested to be placed under “controlled management” under Luxembourg law, co. says in statement. ESI says can’t meet obligations, “due to a significant part of its debt maturing”:statement. “Once under this regime, all judicial actions by creditors are suspended to allow the implementation of an asset management and liquidation plan under a court’s control”
  • Zero Hedge: Israeli troops entered the Gaza Strip at 10.30pm local time on Thursday, under massive supporting fire from air, sea and land. According to military analyst Alex Fishman, writing in Yedioth Ahronoth: "The tanks, which serve as the heart of the assault force, received an order to open fire at anything that moved. The area and the targets are due to be seized by the morning hours. From here on, [the army] will start to clear the ground, in what could last for several days, depending on political developments." The initial aim is to destroy tunnels dug by Hamas from Gaza into Israel for the purpose of launching attacks, and to secure and expand the "buffer zone" inside Gaza's perimeter in order to prevent short-range rocket launches into Israel. However, Hamas is likely to attempt to suck Israeli troops deeper into Gaza, increasing the risk of military casualties. And the Ground Operation is expanding. Israeli Prime Minister Benjamin Netanyahu said Friday that he has ordered Israel's military to prepare for "a significant expansion" of its ground offensive into the Gaza Strip,declaring that tunnels built by Hamas could not be destroyed solely through airstrikes. The mobilisation of a further 18,000 reservists was authorised overnight, bringing the total on standby to about 60,000 in addition to those in service. "In light of Hamas's incessant criminal aggression and dangerous infiltration into Israeli territory, Israel must act to protect its citizens," a statement from the prime minister's office said. DS: It looks like a big part of the Gaza rocket attack was to collect data on Israeli defense capabilities such as Iron Dome.


Hagarth · Jul 20, 2014 - 7:54pm

GATA T's need dialogue

Many a time I thought of helping them out by purchasing one of their Shirts, but their missing something essential. That would be a message that is granite. 

" Barrick Gold Inc. and JP Morgan chooses not to fight GATA in Court on allegations of Gold Manipulation anymore, we choose a settlement with GATA." with a timestamp to hallmark the end of the court proceedings.

GATA vs. Barrick Gold & JPM

GATA "GOLD ANTI-TRUST ACTION COMMITTEE" Keeping the Truth, Faith and Facts in the Gold Market


The Government owns Gold, Do You?

Currency Reserves Include Gold!

Why is the price of Gold broadcast every hour on the news? 

GATA: Working to Free Markets Around the World

Or something witty, sly or tongue in cheek would serve well. 

Bollocks · Jul 20, 2014 - 7:57pm

Great stuff Argentus

"Take delivery."

Enough said.

Or if anyone is new to this, learn all you can, see what you see, buy pm's and


SilverRunNW · Jul 20, 2014 - 8:20pm

B20/G20 Meeting in Sydey

Will be interesting to see what major announcements may occur with the G20 meetings early this week.

The Business 20 (B20) Australia Summit was held on 17-18 July, ahead of a meeting of G20 Trade Ministers, also in Sydney, on 19 July. The Prime Minister of Australia, Tony Abbott, delivered the keynote address at the opening of the B20 summit.

delacroix · Jul 20, 2014 - 9:03pm

re: gata shirts

If you don't hold it, you don't own it.

SS121 · Jul 20, 2014 - 9:32pm

Does GATA advocate the stacking of physical Silver ???

i don't see it, and quit regularly checking their site long ago.

"fighting" (whatever that means) to restore fairness to fake markets is a fools errand, imo.

The "markets" are a tool of the system, and manipulation of these fake markets is completely legal.

The battle is Monetary, and it is between Silver and the "system".

The battle is not between competing entities within the fake markets. To think that it is merely perpetuates the illusion that these "markets" somehow have a legitimate reason to exist. They do not.

It's almost as if GATA has become the straight man for the paper gold markets joke of an existence.

They claim to be "fighting the cabal who corrupts the markets" and in all these years they have never won, so that might give some newb the impression that the markets are NOT corrupt.

Like the Washington General's efforts legitimize the victories of the Harlem Globetrotters.

Nothing personal, just thought i would share in case other stackers weren't feeling good about being pressured to support what imo amounts to GATAs effectual promotion of the system.


boomer sooner · Jul 20, 2014 - 9:43pm

Dr J, some sight seeing?

While back in Ohio this week, you can go watch and maybe hone those marksman skills. We have one civilian group from here competing. A few years ago one of our locals won the 600 meter iron sights championship (AR platform).

Camp Perry, Ohio

 The National Matches, considered America's "World Series of the Shooting Sports," have been a tradition at Camp Perry, Ohio since 1907. Each summer, the nation's finest civilian and military marksmen and women square off for five weeks of rifle and handgun competition in a variety of formats and events. Visit the Camp Perry web site at

Notice: If you do not see your new comment immediately, do not be alarmed. We are currently refreshing new comments approximately every 2 minutes to better manage performance while working on other issues. Thank you for your patience.

Become a gold member and subscribe to Turd's Vault


Donate  Shop

Get Your Subscriber Benefits

Exclusive discount for silver purchases, and a private iTunes feed for TF Metals Report podcasts!

Key Economic Events week of 12/10

12/11 8:30 ET Producer Price Index
12/12 8:30 ET Consumer Price Index
12/13 8:30 ET Import Price Index
12/14 8:30 ET Retail Sales
12/14 9:15 ET Industrial Prod. and Cap. Utilization
12/14 10:00 ET Business Inventories

Key Economic Events week of 11/26

11/27 9:00 ET Case-Schiller home prices
11/27 10:00 ET Consumer Confidence
11/28 8:30 ET Q3 GDP 2nd guess
11/28 10:00 ET New home sales
11/29 8:30 ET Personal Income and Spending
11/29 10:00 ET Pending home sales
11/29 2:00 ET November FOMC minutes

Key Economic Events week of 11/19

11/20 8:30 ET Housing Starts
11/21 8:30 ET Durable Goods
11/21 10:00 ET UMich Sentiment
11/21 10:00 ET LEIII
11/21 10:00 ET Existing Home Sales

Recent Comments

by Turd Ferguson, 15 min 5 sec ago
by Nana, 23 min 1 sec ago
by Nana, 26 min 5 sec ago
by Nana, 27 min 3 sec ago