Tooth and Nail

94
Fri, Mar 11, 2016 - 10:57am

Wow. The Forces of Darkness are fighting us for every last tick, nakedly issuing new Comex contracts at a record pace in a desperate attempt to hold gold back from new 2016 highs. Will they win again? When was the last time they lost?

I must admit to a certain level of frustration today. After yesterday's reversal and rally, gold appeared to be on the verge of another breakout. Instead, after surging $10 higher to $1284 at the "Asia open" last evening, gold is now down $20 and back to $1264. How/why?

  • First of all, incredible naked short issuance by The Bullion Banks on the Comex. Just yesterday, they increased the total open interest by 15,000 contracts to a new multi-year high of 504,000. This represents new obligations to deliver up to 1.5MM ounces or 47 metric tonnes but did The Banks deposit any additional gold or put up any extra gold as collateral? Of course not.
  • Price was sat upon all night long as we even saw a return of The London Monkeys after a 3-day absence. Here's a look at price immediately following the Asia open.

  • Next, we get the standard London PM fix screw job where price is suddenly smashed for $5 just as the Fix is determined:

  • And now, at 10:30 EST, I look up to see price at $1258 and down $15 on the day, $26 or 2% from the "Asia" highs. Ridiculous. Is there any accompanying news? No. Has the euro given back all or even part of its gains from yesterday? No. Has the yen suddenly plunged, taking gold with it? No. This is nothing but plain, old standard Cartel raiding. Brutal. Totally unfair. Completely manipulated. Sickening to watch.

So, is that it? Are we doomed to suffer another massive raid and Spec rinse cycle? It's hard to say. The FOMC and accompanying "fedlines" next Wednesday will go a long way toward determining what happens next? Will Mother raise the FF rate again? I doubt it. Will she and her Goons proceed to jawbone their way to dollar strength? Yep. And will The Cartel use this jawboning to raid price even further because "all is well, the economy is strong, markets are surging, rates are headed higher"? Of course.

We will, most definitely, have to watch the charts closely. For now, both metals are hanging tough despite all of the repeated raid attempts and incessant creation of paper metal.

At the end of the day, this is all criminal behavior but what do you expect from a bunch of unregulated criminals? Since the end of January, they've now issued over 130,000 new Comex gold contracts to meet the Spec paper demand. That's 13MM paper ounces or 404 metric tonnes. These banks don't have this gold nor do they intend to find and deliver it. They're simply waiting the process out. Hoping/planning to smash price with such force that the Specs will rush the exits. This Spec selling will allow The Banks to buy back and cover their shorts, thereby reducing open interest and closing positions without ever having to deliver any metal. It's criminal. It's fraudulent. And it's the way business is done on the Comex.

As you can tell, I'm a little beaten down today so I'm planning to take the afternoon off. My pal, Sweetness, is in town so I'm going to watch a little basketball, drink a little beer and play some golf...though not necessarily in that order. As such, there WILL NOT be a podcast this afternoon. We'll record and post one tomorrow morning, instead. (And don't go complaining about how you need me to read the CoT for you. I can tell you right now that it's going to be horrific with the largest Commercial NET short positions in years. We'll deal with that tomorrow.)

Have a great day and try to find some solace in the fact that LIES cannot continue forever. The TRUTH always wins and The TRUTH will one day set prices free.

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

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JQuest
Mar 12, 2016 - 5:30pm

Avatar Test

Greenspan.... My anti-hero!

JQ =o)

UulaBearSteveW
Mar 12, 2016 - 5:15pm

@SteveW Re: Food Activating Genes

As an Eskimo, I've wondered about the diet of my ancestors and how it affects us today. I suspected the high diabetes was from the heavily processed foods that many up here in Northwest Alaska, because fresh fruits & vegetables are not easy to get up here. It makes sense the historic low carb diet plays a big role in that factor.

The Natural News link is great info! Thanks!

AlienEyes
Mar 12, 2016 - 5:13pm

@ J Siefert

THAT was quite beautiful, J.

Unfortunately, (for me), my efforts along those same lines always end rather badly....

To wit :

There once was a girl named Alice

who used a dynamite stick for a phallus.

They found her vergina

in North Carolina

and bits

of her tits

in Dallas.

.

See what I mean ?

edit : And no, this has absolutely nothing to do with Alice Walton or Alice in Wonderland.

Mar 12, 2016 - 4:22pm

Just recorded the podcast

I think most will enjoy it. Will have it posted on 15-20 minutes.

SteveWtyberious
Mar 12, 2016 - 4:16pm

@ tyberious: Re: Food activating genes

https://www.naturalnews.com/053257_gene_activation_human_development_foo...

The reported study from Norway suggests a balanced diet of carbohydrate, fat and protein is superior, which contravenes many of the "fad" diets.

One of the earliest ideas about the genetics of diabetes is that it was a "thrifty" genotype. This meant that the efficient use of food during periods of starvation would lead to survival and selection of this genotype.

While the food we eat today can influence the level of expression of genes, the food our ancestors ate can also lead to selection of particular genotypes. For example the Inuit (Eskimos) traditionally ate a diet rich in fat and protein and practically devoid of carbohydrate. If one has this background carbohydrates should be avoided.

"Type 2 diabetes is a health concern among Canada's First Nations and Inuit. First Nations on reserve have a rate of diabetes three to five times higher than that of other Canadians. Rates of diabetes among the Inuit are expected to rise significantly in the future given that risk factors such as obesity, physical inactivity, and unhealthy eating patterns are high."

https://www.hc-sc.gc.ca/fniah-spnia/diseases-maladies/diabete/index-eng.php

So a healthy eating pattern is to determine your ancestry and ancestral diet and use that as the basis of your food choice. This would, of course, not include highly refined food.

Dyna mo hum
Mar 12, 2016 - 2:01pm

OH MY….

Mary Clancy goes up to Father O'Grady after his Sunday morning service, and she's in tears.

He says, "So what's bothering you, Mary my dear?"

She says, "Oh, Father, I've got terrible news. My husband passed away last night."

The priest says, "Oh, Mary, that's terrible. Tell me, Mary, did he have any last requests?"

She says, "That he did, Father."

The priest says, "What did he ask, Mary?"

She says, "He said, 'Please Mary, put down that damned gun...'"

bently
Mar 12, 2016 - 11:34am

Alasdair Macleod

Alasdair notes that after making its golden cross gold is once again in a pennant -- and he is predicting it will break out to the upside. Perhaps Turd could show.

Also, for those who missed -- Zero Hedge said Goldman Sachs' will be stopped out of its gold short at 1291.

canary
Mar 12, 2016 - 11:30am

Alasdair Macleod is a great communicator.

I'm always impressed with the clarity, politeness and gentle humor of his conversations.

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Mar 12, 2016 - 11:29am

Podcast delayed

Long day. Late night. Will record this afternoon.

Landowner
Mar 12, 2016 - 10:31am

HAARP = Global Warming?

Could this Haarp stuff be a manmade cause of global warming in North America? Maybe we don't need carbon taxes the gov is bringing in after all. Just need to stop the HAARP stuff.

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