The Next Step In Their Plan

Thu, Jul 24, 2014 - 10:38am

Back on Tuesday I wrote that "they would be coming again". And so they are. What should come as no surprise is that today's manufactured selloff was prompted/signaled by another bearish report from Goldman Sachs.

In case you're wondering: Yes, you have seen this before. Recall that back in April of 2013, the criminals at Tungstenman issued a bearish report on gold just days before the major raid of April 12-15. Of course, all the while, Goldman was using the weakness to accumulate a massive long position in the GLD for the proprietary accounts. Muppets beware!

So what happened last night? Goldman once again released a "bearish" report on gold where they advised that they were "selling with conviction" with price above $1300. This story hit ZeroHedge at 8:44 pm and gold was sent reeling shortly thereafter:

It should then come as no surprise that the hammering has continued on the Comex this morning. The intent was to take gold down today and there is no stopping them. At this point, is is very important that you recall the warning I gave you just two days ago. The post can be found here: and it concluded with this warning:

"The point of this is to warn you but, more importantly, remind you that this is all managed and purposeful. The Evil Cartel Banks are desperately trying to knock price back down and below the main trendline that we've been following all year. Will they be successful? Maybe. Last week's geo-political events caught everyone, including The Forces of Darkness, by surprise and it clearly disrupted their intentions. With the overnight action, though, they've clearly shown their intent to resume their current operation. Let's watch for support first at the bottom of the 5-week range near $1305, then at the lows last week near $1292 and then at the all-important trendline and $1280."

And it is critical that you keep all of this in mind this morning. Note that the report from Goldman also stated that they very much hate copper, too, along with iron ore. But yet, copper is actually UP today by 1.5%. Do you now see how all of this fits together? The Goldman piece was purposefully designed to give gold a shove to the downside, breaking support and the bottom end of the range at $1305. This then inspired/allowed follow-on selling that has since taken gold down to the support of last week's lows near $1292. Will they be successful in taking those lows out, too? Probably. Why? Because their ultimate goal remains the main trendline that we've been following all year. It is the defense of that trendline that led The Banks to issue 100,000 new net shorts over the past 6 weeks and it is the defense of that trendline that is behind this current beatdown scheme.

In the short term, the options sweet spot likely remains near 00 so the major effort to push down toward and below the trendline may hold off until mid week next. Regardless, just know that this is obviously their intention and goal and plan/prepare accordingly.

Since late June, I've been telling you that I wanted to see price come down and "ride" that trendline as support before turning higher again and charging to the next level, which would now be getting back above 45. So, all of this is going exactly as planned and hoped. It just took a little longer to develop than I had initially expected. Nothing has changed my forecast, though. I still expect strong support at the trendline and the area between 70 and 80. From there, I expect price to reverse and turn higher in August, moving through 45 and firmly establishing to all willing to look that The Bottoms are in and that the forced correction from 2012-2014 is over.

I'll conclude this post with one more snippet from Tuesday:

"You've been warned. Again, though, understand what's going on and use this knowledge to your advantage. Get ready to BTFD and profit from the rally into year end."


About the Author

turd [at] tfmetalsreport [dot] com ()


Jul 24, 2014 - 10:41am

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Jul 24, 2014 - 10:43am

They're coming hard after silver, too

And, with price now under $20.60, it could fall very quickly toward $20.20 or even $19.80.

Be advised and be prepared.

Jul 24, 2014 - 10:45am


monkey bastards!

Jul 24, 2014 - 10:46am

The earlier "shove"

As seen by Nanex:

Joseph Warren
Jul 24, 2014 - 10:47am


do I watch 'prices' ? Is it just an obsession ? Since gold price suppression is a key to their maintaining power, its possible that we may Never see a real dollar price for it quoted. That is, until the whole system comes crashing down and there's a re-set.

Like in the first Matrix movie when the sell out crew member meets with the evil agents. . . .

"I know this steak isn't real, and yet . . . . ."

Jul 24, 2014 - 10:48am



Jul 24, 2014 - 10:54am

"Yats" is out!

I wonder what puppet Victoria and her buddies will put in next?

Jul 24, 2014 - 11:03am

July 24, 2013 Barcelona,

July 24, 2013
Barcelona, Spain

Ten dark suited men entered the premises of FBME bank in Cyprus on Friday afternoon and took it hostage.

It must have looked like a scene from the Matrix. And given the surrealism of how this conflict is escalating, maybe it was.

The men were from the Central Bank of Cyprus (CBC). And they commandeered FBME because an obscure agency within the US government recently issued a report accusing the bank of laundering money.

It just so happens that FBME… and Cyprus in general… is where a lot of wealthy Russians hold their vast fortunes.

Bear in mind, there has been no proof that any crime was committed. There was no court hearing. No charges were read. It wasn’t even the government of Cyprus who accused them of anything.

There was just a generic report penned by some bureaucrat 10,000 miles away.

Funny thing—when HSBC got caught red-handed laundering funds for a Mexican drug cartel last year, the US government gave them a slap on the wrist. HSBC got off with a fine.

Yet when the US government merely hints that FBME could be laundering money, the bank gets taken over at gunpoint.

Welcome to warfare in the 21st century. It’s not about battleships and ground troops anymore.

This time the adversaries are battling each other using what ultimately affects everyone: money.

And on this battlefield the US doesn’t really have many options.

  • US banks still form the nucleus of the global financial system, but this is quickly being replaced.
  • Just last week the BRICS nations met in Fortaleza, Brazil to launch the origins of a brand new, non-US financial system.
  • The US is still the largest economy in the world, but will likely lose this status to China by the end of the year.
  • The US dollar is still the most widely used currency in global trade, but even America’s closest allies (Canada, Western Europe) recognize that the time has come to move beyond the dollar.

So while the US is still running around and barking at others, it is quickly losing its capacity to bite.

Their only tactic is to haphazardly attack Russian interests wherever they can.

They’re sanctioning Russian companies. They’re trying to torpedo international support for Russia. And now they’ve resorted to plundering Russian assets held in other sovereign nations.

Imagine you’re Qatar. Or China. Or Kuwait. Or Singapore. Or anyone else who holds substantial amounts of US debt.

All of these countries understand the lesson loud and clear: when the US doesn’t like you, they will do everything they can to make your life difficult.

Does this inspire confidence? If you’re holding hundreds of billions of dollars of US Treasuries, does this really improve your level of trust in the US?

Probably not.

By terrorizing Russian interests, the Obama administration is begging the rest of the world to reconsider their misplaced trust in the United States.

All these foreign countries really have to do if they want to retaliate is start dumping their US Treasuries. Or simply stop rolling over when the notes mature.

That will cause catastrophic consequences in the United States. Interest rates will soar, inflation will kick in, and the government will be even closer to default than it already is.

Inexplicably, Mr. Obama is practically begging the world to do this. It’s tremendously arrogant.

It’s like the economic warfare equivalent of Napoleon pompously leading his overstretched, exhausted army into Russia.

And neither Napoleon nor Obama gave the slightest consideration to the big picture consequences.

At $17.6 trillion in debt, the US is trying to wage economic war without any ammunition. It’s not something that is going to work out well for them.

I’m off to Ukraine this weekend; stay tuned for further dispatches from the front lines.

Until tomorrow,

Simon Black

Jul 24, 2014 - 11:04am

And here's a big surprise

As mentioned in yesterday's podcast, bonds are getting smacked today:

Jul 24, 2014 - 11:06am

Turd, What does "BTFD" you

Turd, What does "BTFD" you use stand for?

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

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Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

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