Comex Crime Scene Mechanics

79
Tue, May 2, 2017 - 3:30pm

Perhaps you should consider the following information before entering The Comex Casino next time? Or, if you still can't help yourself, there's always 1-800-BETS-OFF.

Through late March and into April, we tried...and tried...and tried again to warn/educate as many as possible that The Silver Bullion Bank Cartel was once again up to their evil, criminal tricks. Here are the relevant links:

So now, here we are. Comex Digital Silver is in the midst of its worst "losing streak" in years, having fallen for eleven, consecutive days. And why is this happening? For virtually the same reason that it has always happened before. Namely, and as stated in the introduction of link #3 above:

"The Cartel Banks are simply playing their same old, tired game where they pull the rug out from under everyone after patiently flooding the "market" with new open interest, waiting for buying pressure to exhaust itself."

Evidence of this is shown below in one, easy-to-read chart. Just click it and it will expand:

Between March 24 and April 20, JPM and their criminal pals (deceptively called "Commercials" by the criminally complicit CFTC) issued 42,128 new silver contracts and fed them to the hungry hedge funds and other "speculators" wanting "silver exposure" at The Comex Casino. At 5,000/oz per contract, these 42,128 contracts represented the potential obligation to make future delivery of 210,640,000 ounces of silver. This was silver that JPM et al did not own nor did they have it immediately available. And this "silver" was sold to speculators who had no intention of taking/demanding delivery! (Again, how this passes for some form of relevant "price discovery" of physical silver is beyond me.)

As you can see, these 42,128 contracts were issued with prices ranging from $17.90 to $18.70. Though issuance wasn't evenly distributed across the time period, for the sake of simplicity, let's just call it an average price of $18.30/ounce.

Price has now been maneuvered lower through the "contract expiration" period of what had been the front month May17. Unless standing for delivery, positions in the May17 needed to be closed out and/or rolled into the July17 or later by the Comex close last Thursday. The Banks used this natural selling pressure against The Specs and the resulting chart below has all the earmarks of a deliberately rigged "market":

Though it's impossible to calculate how much trading profit JPM et al might have realized through this latest price capping round trip, let's give it a try anyway...

Price closed on Monday at $16.84. If all of the recently added open interest was withdrawn as price fell to that level from $18.10, maybe we can assume an average Bank short-covering price of $17.30 to keep the math simple? If that's the case, then JPM and the other "Commercials" netted a tidy profit of $1/ounce on 210,640,000 fraudulently issued paper ounces. It's likely that just about everyone reading this can do that math: THAT'S A PROFIT OF $210,640,000.

And thus today's latest lesson. If The Banks made $210MM, then it's reasonable to assume that The Specs lost $210MM. As WOPR says: "A strange game. The only winning move is NOT TO PLAY."

Will next time be different? Probably not. As long as JPM and the other Cartel Banks have the unlimited and unchecked ability to create and issue a nearly infinite amount of paper "silver" contracts, the game will continue. ONLY physical delivery and the strict avoidance of The Comex Casino will be effective in drawing power away from The Banks and ending their fraudulent system.

If you, my dear reader, continue to validate The Comex Paper Derivative Pricing Scheme by accepting their terms and gambling in their lair, then you are a part of the problem...not the solution...and you deserve every loss you incur in the future.

TF

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  79 Comments

yukon123 · May 2, 2017 - 3:45pm
Ben Stackin · May 2, 2017 - 3:53pm

what a crock of shit the CDS market is

My Gawd how I wish I never got involved in Silver and the miners....

Turd we can only hope the light you are shining on this criminal cartel of douchebag banksters will eventually result in them scurrying away to find another market to fleece, much like talk in alt-media circles of potential for an impending "false flag" opportunity seems to keep said false flags from happening. The douchebags like to work in the dark.

Benny

AIJ · May 2, 2017 - 4:05pm

Andy Weighs in

Precious Metals And Bitcoin, Twin Destroyers Of The Fiat Regime Podcast by Andy Hoffman – Miles Franklin

https://thedailycoin.org/2017/05/01/precious-metals-and-bitcoin-twin-des...

AIJ · May 2, 2017 - 4:15pm

Andreas M. Antonopoulos | Ethereum Q&A + Altcoins

"Lions don't compete with sharks"

Video unavailable
heathbr · May 2, 2017 - 4:17pm

Calm before the storm ...

Markets are eerry 

billhilly · May 2, 2017 - 4:24pm

So Turd,

since I am an owner of mining shares, and as a direct result of the Comex games I am losing money, am I playing in their casino ??? Am I deserving of these losses ????

I appreciate your view but am not in agreement.

AgAuMan · May 2, 2017 - 4:42pm

@billhilly

I think this is what Turd is trying to say....

If you know the stove is hot and you still decide to touch it....

You know what comes next....

Who's fault is it? The stove? I think not.

I hate to be blunt, but it is what it is...

billhilly · May 2, 2017 - 4:42pm

Yes, me too

We are simply perpetuating the system and propping it up through our gambling addictions.

bookers126 · May 2, 2017 - 4:43pm

Clif's April ALTA Report

Just to give myself some false hope I re-reviewed Clif's April ALTA report. In it he claims that silver will be breaking out in late April into early May. I guess he still has a few days for this "prediction" to happen, unless he got his wires crossed and meant a negative price break out. If that is the case, then he really nailed it. 

Dr. P. Metals · May 2, 2017 - 4:45pm

JNUG (99.599% loss)

From peak(s) to current: 99.5992682926829% loss for "investors" in this "investment vehicle".

Banksters 1: All others: 0

JNUG is fools gold.

bookers126 · May 2, 2017 - 4:55pm

clif

Seems like a nice old guy and I have no doubt that his intentions are good.

But I got sucked in ONCE...last summer...when he stated categorically that silver would headed into the high 30s in July. Oops.

Not to be throwing stones from my glass house but I simply don't think his methodology lends itself to PM price prediction.

Dr. P. Metals · May 2, 2017 - 4:58pm

@Turd

When does AM's "past due" date for the "officially announced publicly stated reset" to finally have passed once again being proven wrong, so we can also be done with that nonsense also?

indiana rod · May 2, 2017 - 5:00pm

billhilly

Owning the miners is not tht same as buying futures. The players on the Comex get a margin call or a stop loss sale and they're out with a loss. A sure way to lose money is to play their game.

If you own a miner you don't have to sell. In the long run you are sure to win. If there is a sure thing, it is silver, the most undervalued asset in the world.

We are sure to win.(If we live long enough)

· May 2, 2017 - 5:00pm

Thanks Dr P

Thanks for posting those charts DrP. Proves what we've tried to make clear from Day One...namely that holding ANY leveraged ETF is a recipe for financial destruction. Anyone who has taken the time to do the math should know this.

Price $20. Underlying asset falls 10%. Price falls 3o% to $14.

Price now $14. Underlying asset rises 10%. Price rises 30% to $18.20.

Repeat this over and over and you get the charts that you've so kindly posted.

If you want to fiddle around and day trade these godforsaken things, knock yourself out. Just DO NOT hold them long term.

AgAuMan · May 2, 2017 - 5:02pm

This is what we know....

All manipulations come to an end. At this point (for me anyway) this has become a siege. The banks are in the walled city, we the stackers are on the outside removing an oz. at a time. I am prepared to wait them out for as long as it takes. 

Dr. P. Metals · May 2, 2017 - 5:02pm

If JNUG was down, surely JDST was way up, yes?

Since JUNG (the bull miner 3x etf) was down in what has been a HUGE gold/silver/miner bear market for years now, surely if you had managed to find the BEAR miner 3x etf JDST, you would have been HUGELY up, yes? (it's supposed to be the inverse)

...at least according to logic.

But you would be dead WRONG. Peak to current: You would have only lost 99.9682872727273% of your "investment"

So, ladies and gents (folks), whether you picked BULL or BEAR miners 3x ETF, you would have only lost at least 99.5% of your "investment". Nothing to see here, move along...

It seems in conclusion, that over the last 3+ years, there might have been a few HOURS or a couple DAYS even during all that time, when you could actually have made money somehow in these "investments"...if you were so astronomically lucky to pick those very tiny windows of hours (or a few days) to invest (over all those years) to execute a quick trade.

Dr. P. Metals · May 2, 2017 - 5:03pm

Re Andy

Well I'm giving him a little extra time because I know WHY he was so confident in his stated date. 

Sometimes deals don't come together as quickly as one likes or projects and he may have been a little overly aggressive with his forecast.

Regardless, we all need to held accountable for date/price projections that don't pan out.

Outback · May 2, 2017 - 5:52pm

so why are we here???

day after day we take a Beating. is this ever going to END?

By now we know. NEVER, thanks to Turd and todays post.

to think it will ever END. you got to be NUTS or CRAZY.

outback

The Wetback Surgeon · May 2, 2017 - 5:53pm

Two reasons for hope

At least according to a pretty compelling argument made by Ted Butler

1. There appears that be a slowly growing contingent of traders who are slowly building a long position that DOES NOT sell off on these "raids"

2. JP Morgan has at least a 100 million ounce hoard of physical silver, according to the CFTC's own reports. Moreover, Butler speculates that JPM's physical stash actually amounts to 500 million ounces.

If #2 is true, it would stand to reason that JPM is NOT buying silver bc it expects prices to go down. In fact, this could be a criminally genius way of getting out of their huge short position whilst still making a killing.

something to consider

billhilly TF · May 2, 2017 - 6:10pm

With all respect Turd...

....and your patience too I hope, I am not understanding your response. Are you saying that by purchasing Mining Companies we are perpetuating the system (the Comex paper ponzi scheme) ??? 

Miners, in my humble view, are not paper ponzi scheme entities. They are real investments, made up of sweat, and capital, and equipment, and employees, and produce a product, and benefit communities etc.etc. Does the Comex paper trading scheme do any of this ? 

How am I perpetuating the "scheme" by owning miners ? 

I understand that owning shares of ETF's and SLV etc. ARE plays within their paper game. But holding miners ??? Just asking the question because I don't understand the answer. Thanks

onesong · May 2, 2017 - 7:27pm

I'm a little put off here Turd...

the one thing I can count on is your guidance. The main reason I listen to you is because you give your honest opinion but you don't predict future prices or dates which turns off my ears as soon as I hear them. That's why I listen to Clif for entertainment not sound judgement. Please don't say you tried and tried and tried to warn us now as if you knew this on slot was coming. What I always like about you is that you say... "could it go down from here... sure it could" but today you seem to have climbed on to a high horse for what ever reason... maybe this has gotten to you too but to now insult your subscribers doesn't sound like you. Hope you climb down soon! 

tvend · May 2, 2017 - 8:17pm

Nah, turd warned

Turd definitely warned of the record open interests building up and that the COT was a loaded cannon pointed right at us.

The problem was I thought it still looked really good to ride the miners with the breaking down DXY and USDJPY, and I got long anyway trying to be a hero.

If anything it was more him warning that hey, we could go up but more likely is down. 

· May 2, 2017 - 8:46pm

To quote Simon and Garfunkle...

"A man hears what he wants to hear, and disregards rest..."

Turd has been warning about the huge overhang of silver OI, and what this usually portends, for weeks. There are only so many ways he can say it, plus he has a large subscriber base who are (myself included) here because we're goldbugs, so if the negative stuff is too heavy-handed there are people that get pissed. So he issued warnings, but is even-handed about it and always includes a possible bullish scenario too ("If we can get above X resistance then the next higher level is Y") but the warnings are there.

Just tonight in the podcast he listed a whole raft of things in the next 3 days plus weekend trading that, if you are paying attention and are long, would cause you to maybe hedge through Monday. But you have to want to hear it. Sometimes I think TF gets a little frustrated when he feels like he's doing his job, telegraphing warnings ahead of stuff like this, then People ignore it then moan about a downturn and bitch "why are we even here, we can't win?" Well fuck. You could have hedged when silver OI got to an all-time record high... it's not like that pattern is a mystery by now.

streber · May 2, 2017 - 8:49pm

Hey Y'all...You also can short, along with the bwankers.

Try it. It's fun.

And "thank you" Craig for tracking the O I

· May 2, 2017 - 8:53pm

And another thing

What usually happens at the end of these things? The banks ring the register, OI declines, and we go on a nice run. Which means that at some point pretty soon, it's a buying opportunity. Maybe next week, maybe June. Buy low, nearer the bottom of the trading range, lighten up at the top. Rinse, repeat- just like the banksters. When folks are getting testy around here, it's time to buy. When they are happy, that's when to be nervous. 

Havenstein · May 2, 2017 - 8:53pm

Turd's Advice

Largely thanks to the sage advice of our fearless leader, I was taking some mining profits and raising cash in preparation for this fall. I hoped it wouldn't happen but I was prepared for it. I have been scaling in on the way down. I got stink bids filled. I'm happy treading water, head above the surface. If prices sink through the floors of last resistance I'll need serious meds but I do have a small percent of cash ready to fire. So many times I have been all giddy at the tops and believing 'this time is different'. Of course it wasn't, and at the bottom of each cycle I recall Turd's whispers to look out. This time, finally, I heeded his call. If you didn't hear it you weren't listening. I've been there. Some day it will be different. Here's to that day.

I have a little bitcoin and it has certainly taken the edge off of the metals downturn.

I'm giving Maguire's thesis until end of June.

- H.

· May 2, 2017 - 9:42pm

This time is different

I no longer will believe it--even as the patterns change and things really are different. That does not mean metals are finally going to head steadily higher. And I argue that metals will not head higher until the banks are powerless to stop them. For now they have a lot of firepower. They also have dirty tricks up their sleeves that we haven't dreamed of yet, such as the "Trump" card of making metals illegal to own. It would appear our POTUS has already been reigned in by the cartel and war hawks.

Marijuana: OK. But precious metals: Hmmm ... could become the currency of domestic T -----ists as patriot groups and preppers simply barter to survive..

They may not be able to confiscate, but they could make it difficult to sell your holdings if needed. Right now I can take an ammo box full of coins to the LCS. If the value is under 2K, he'll pay cash. If over, he'll write a check. Then I go to the issuing bank and cash that check. 20 minutes, metal to cash in hand. Very convenient and liquid, but that arrangement may not be available when I would most want it. (Actually, metal for other commodities will be even easier, but it might prove difficult to buy property with our metal.

When the markets break and the moonshot finally comes, it will be over. Until then, stacking is a good plan. 

As for me and my house, we will serve the Lord ... and we will keep stacking, and work on a "3rd world economy" plan for independent living--just like my great-gradparents lived.

scoremore · May 2, 2017 - 9:53pm

Yeah it is frustrating...

I heard Turd's warnings...but I was buying physical still...it was a risk...

But I was also buying @ $14, $15, $16, $17....

IMHO in the long run anything below $20 will be a steal...of course I would like to get it as cheaply as possible.

But I am not trying to time the bottom...just spreading out the purchases.

I am now seeing how the week plays out...would love to get some more at $16.50...but soooo tempted to get some more right here at a hair below $17.

· May 2, 2017 - 9:56pm

Stacking Carries Little Risk of Total Loss

Exchanging fiat for digital entries on a computer monitor, in hopes of then exiting the digital realm by exchanging for something tangible is fraught with perils, including of course, total loss from a move against one's position, as well as other things like slow losses from commissions, missed opportunities, entry points not being timed exactly, etc.

The risk of loss for stacking is twofold:

(1) Exchanging fiat or digital for physical metal at a time when the exchange rate is higher than at other times, such that the amount of metal accumulated is less than at other times when the exchange rate is better; or

(2) Theft of one's physical stack.

This is where one's own belief system needs to focus.

IF:

(1) one has along risk horizon, or can absorb large losses over time, then perhaps playing in the Comex casino, et al., may be a workable thing. But, 

IF:

(2) one is risk averse to losing ALL or substantially all of one's investment capital, or has a short investing horizon, then it is simply not a good solution to play in the Comex casino.

I've made and lost a whole lot in the casino, of which I care not to disclose. But, to date, I have not lost one single cent on a bad physical purchase. Sure, my timing sucked [silver monster box at $44/oz? Ouch!], but it is only a fiat loss IF I have to exchange that metal for fiat at the moment.

Sure, I could have played in the fiat casinos, and made more fiat with which to accumulate metal, but seriously, who has that kind of accurate timing?

And, another thing, nowhere have I seen it valued, in any metric, or model or anything, of the peace of mind value from having a big stack. How much is that worth on a daily basis, or for the year, or at instants of panic, like Trump basically telegraphing that a kinetic military action is planned, and will eventually erupt in North Korea? How much is that peace of mind worth knowing that if the shit hits the fan, that my family is prepared to weather any storm, with that, of course, and my trusty stacked copper-jacketed lead and accompanying delivery devices?

So, in my mind, play the casino for entertainment, or hope, or to brag about one' star prowess, or for something to do. But, in the end, the decision is one's own, and no amount of Monday-morning quarterbacking will ever change the outcome or properly place a value on peace of mind.

At some point, it just becomes comical, and therein presents another value: how much is it worth everyday to laugh and laugh and laugh at all the stupid media elites, banksters, and other financial types who inevitably lose their jobs, their money, and their reputations when Mr. TF discredits their foolish squiggly line prognostications?

Bo Polny, where are you?

Mr TF has nailed it. His thesis is the best around, the most accurate, and utterly without reproach. It is a rigged casino, and the rigging apparatus, methods and outcomes are all just there visibly every day, as he correctly points it out.

Long term, who knows?

Short term, stack and be happy for having the opportunity to be able to stack.

Prepare accordingly.

Joseph Warren Outback · May 2, 2017 - 10:15pm

Re: So Why Are We Here ?

I can only speak for myself. IMO all evidence clearly points to there being No real markets today. Hell, the damned 'debt' note fiat 'money' on which everything is based, and in which everything is enumerated, is a scam. (Backed by nothing of real value, a con-fidence game.) The PMs are Enemy & Threat #1 to the fiat Ponzi scam. Volcker said they learned their lesson from the 70s. They will do Whatever It Takes to suppress the gold price. Mustn't let the sheeple get alarmed and escape from their 'debt' note system. Its their system. They own it.

Frankly, I don't see that they will let their own system get away from them for very long. Why would they let themselves lose ? Since there are no real buyers and sellers, I don't see that technical analysis is valid, as it had been in the past. There is only a market simulation, sort of.

I come here because Craig, and many others of us, are keeping a very close eye on the PMs and events in the world. And, to use an old Star Wars analogy, - - one day there may be 'a disturbance in the Force'. I have no idea what that might be, or how it will show up. Maybe there will be a huge spike in PM prices, which is then quickly suppressed . Maybe it'll be some geo-political event that starts to cascade into craziness. In any case, in my judgment, its probably better to have many pairs of eyes keeping a look out, rather than just my own.

So consider yourselves Jedi Knights.

And keep stackin'

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