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A few moments ago on Fox Business Channel we heard someone proclaim that "given all that's going on the world, gold should probably be $5,000 to $6,000 per ounce". Who actually had the gall to say this on live television? You won't believe it unless you see it for yourself.

So, here you go. This is Neil Cavuto discussing the "markets" with Terry Duffy, the one and only CEO of the CME Group. The first five minutes are the standard boilerplate of Fed policy, etc and blahblahblah. However, at the 4:55 mark, Cavuto asks:

  • "But we haven't seen money move into the metals....what is going on there?"

To which Duffy answers:.......

Well, you're going to have to hear it for yourself to believe it. Again, fast forward to the 4:55 mark and have a listen.

And so we have a fun discussion point for this thread. Namely, WHY would the CEO of the CME state this on live TV?? Is it because he now expects much higher metals prices in the months ahead and he wants to front-run them with his "analysis"? Is he tipping off The Banks that their games are almost over? Does he know about the "reset" that Andrew Maguire has been referencing? Is he just simply clueless as to WHY price is only $1220? (This I highly doubt.)

So, again, what explains this sudden bit of candor from the CME? If anything, you might want to bookmark this thread for future reference. If indeed the physical market is soon to take over as Andrew Maguire suggests and if indeed price is about to reset multiples higher, it might be fun to refer back to this day when the CEO of the CME openly suggested that "with all that's going on in the world, it (gold) should probably be at $5,000 to $6,000 per ounce."

TF

31 Comments

joeblack's picture

For a minute...

I thought Bo Polny was on Fox Business

Is the CME Chairman talking his own book to drum up business or maybe he's long?

I doubt he would leak any actual useful information .

ReachWest's picture

Wow.

Unbelievable! Something is changing.. no way this guy says that without a reason. 

Xploregon's picture

And the follow-up question should have been.....

"Who do you think has been manipulating the metals market?". Cavuto missed the Au opportunity.

Dr G's picture

My trading account would

My trading account would gladly accept 5k gold. Hell, I'd settle for $1500 gold in the near term.

Edit: I also think the bottom is in right now for the metals, at least for this move. Interesting, earlier in the week I would have sworn we would see sub $15 silver, now I belive we see $16 soon.

tfever's picture

completing exchange

They know the hax is up with completing exchange.  Physical short/longs will go to LME/HKEX instead. 

Who cares what to crimex saids/display anymore. 

Jihk2431's picture

Wow, it's almost as if Yellen came out and said the same thing

Shit may be about to hit the fan when you hear insiders like this lamenting how much risk has been discounted by the investing world.

Dr G's picture

Nah, same old, same old.

Nah, same old, same old.

imach1's picture

wow

This is a good prediction on his part.  Lets see what happens.smiley

happycamper515's picture

At the very least

The tide feels like it's changing.  After 5-years of this crap we freaking deserve better days and a better life ahead.

silver10sguy's picture

Holy Smokes What Just Happened?

Turd,  the video gave me chills.   What a weird and exciting day with a gold bullish CEO of the CME,  Janet Yellen getting more dovish, and another video somewhere of Alan Greenspan talking about stagflation.   I think all our dreams are about to be realized this year with gold and silver.  I still have chills running down my spine!!!   Wow! 

OOOBuck's picture

Duffy is one of the bad guys

and an ugly street fighter.  You can be sure that this guy does not telegraph his punches for our benefit.

Jihk2431's picture

He might be trying to keep their credibility as the price moves

up.  He knows people won't remember their role so long as they get on board as the price changes.  CME Group is not going to be left behind.

silver10sguy's picture

Another Weird Announcement from US Money Reserves

http://www.prnewswire.com/news-releases/us-money-reserve-president-to-hold-emergency-gold-conference-300486354.html

Rushing here to share this but it was surprising to read a press release which stated a desire to influence Americans to own gold!   What the hell!  

Turd Ferguson's picture

Maybe I'm wrong

MODERATOR

But that just sounds like a sales pitch.

AIJ's picture

Another must see video...

Marcrward's picture

but no mention of silver

psyop

brainwashed population

mass psychosis

future energy consumed today is the only way we know how to survive? only those who want to "price" everything in IOUs which MATHEMATICALLY are good for only more IOUs unless you DESIRE THEM.

hit your head against the wall and figure that one out...

funny how you all want metals to go higher just so you can accumulate more IOUs exchangleable only for more IOUs all while the number of IOUs exchangeable for more IOUs is growing AT AN INCREASING RATE.

how illogical do you have to be to accept that for your time and how blind do you have to be to accept that future for your kids. don't bother looking around, everyone is dumb and blind most likely made that way by their very own parents reinforcing the debt complex in hopes that their own IOUs only exchangeable for more IOUs might have value in the future. remember, the kids must want it too to give it value.

get to work, go brainwash some kids so you can exchange your IOUs for their energy.

Harley's picture

Awesome!

Time to load up on my favorite "pet rocks" laugh

ancientmoney's picture

Cavuto's question...

was: "Is there something missing?"  He knows of the control clamps put on PMs since May 2011, no doubt.  As does doofy Duffy, in spades.

I do think this has real meaning.  The Deutsche Bank admissions and naming complicits, the faked "recovery" for 10 years, the movement of beau coup gold from west to east since Timmy tax-evader visited China twice right before the western gold exodus began, the stealing of sovereign non-western countries' gold to cover the expanding hole, the continuing devaluations of currencies, the continued illegal-but-now-legal suppression through rigged COMEX and other paper markets.  It's all getting to be too much to control.

The fact JPM has amassed hundreds of millions of ounces of physical silver (and probably some gold, too) over the last few years is telling, as is the constant dissing of PMs in the MSM.

I think it was Jesse Livermore who said that the hardest thing to do is to hold on tight in a long-term bull market, because everything will be used to throw you off.

I'm guessing that Duffy and Cavuto pre-prepared their little discussion, and there was full intent on making his statement now, in order that nobody could say it wasn't told frm a knowing source, once the big moves arrive.

We'll see, and I think soon--before Christmas is my thought.

Dr. P. Metals's picture

I don't see any video

was it removed?

dangerkitty's picture

Terry Duffy

I was with MF Global when John Corzine raided our segregated accounts, at the Senate hearings, Terry Duffy was the only one testifying who was speaking the truth. For that I do have a level of respect for him. What Terry Duffy is up to now, is anyones guess.

On the other hand, Gary Gensler who was head of CFTC at the time is a slimy weasel, a good for nothing slug. 

Ok, $4,000 to $5,000 gold? We'll see. 

ancientmoney's picture

Duffy has had to go with the flow...

CME/COMEX is an exchange.  The CFTC is the regulator.  The government makes up the rules.  The government changed the laws to allow the government to manipulate any and all markets as it sees fit.

However, it cannot over rule market laws forever.  Duffy might now be able to say what he did, because the PTB see the end of their control soon to arrive.  Hope so anyway.

Marcrward's picture

"money move into metals"

do IOUs only exchangeable for more IOUs while the total number of IOUs is growing at an exponential rate really MOVE? oh, its just the CME group's dictates that you reference.

why do we call IOUs ... money? cause the others around you do? looks like everyone is jumping off a cliff. I decide not to. and I actually think we can setup a fence so no one else jumps off... but i realize everyone is out for numero uno and if you can acquire more future energy today than the next guy you will, is that pushing him closer or farther from the clif? or maybe you are both falling and it's just a relative speed in that fall you see.

the only way to cap the psychological desire for a giffen good is to manipulate the population so no one wants the giffen good. but don't think too hard, just let the CME group dicate your life.

ancientmoney's picture

"money move into the metals"

I agree that those who go long in paper contracts for PMs will rue the day.  They will be paid out in fiat, at very low prices. 

Paper gold and silver will not survive the big reset.  Only physical can and will survive, and experience the bull market that will put PM (phyzz only) prices at levels that will amaze almost everyone.

OOOBuck's picture

As CEO, Duffy could have called into question

and brought forward hard evidence to the CFTC regarding the outrageous trading practices that were/are going on.  He knew who was trading, how much they were trading and when they were trading.  He could have made it public.  He did nothing.

He may be a good guy but he is guilty of not doing anything to stop the thieves from robbing the small investors.  Now he seems willing to make public that gold is inaccurately priced but he continues to take no responsibility for anything.  It's as though he's been walking around in a dream these past half dozen years.  Well rest assured, we're awake and we've been awake the entire while and we'll not forget such a shameful dereliction of duty.

ancientmoney's picture

OOOBuck re: Duffy as CEO...

When the government itself is controlling the markets, a mere CME CEO cannot do anything about it, as it is "legal."  Not right or fair, but legal. 

Of course, if he wanted to experience some form of Arkancide, he could have blown a whistle, I guess.

SilverDudeMan's picture

Well Orchestrated....and Watch the Body Language Carefully

Craig and others,

I am not a body language expert, but watching this video in terms of how it's said and not just what is said may be very telling.

This of course is VERY WELL ORCHESTRATED, just like when the Wicked Witch talked about JP Morgan's donation and managed to go on record as saying "We do not have a directional position", and of course now they don't, they just have a hedge on a monopolistic position (if you believe what Uncle Ted thinks is happening) with respect to physical silver.

The seed question: "But we haven't seen it in the metals..." He blinks a lot as he talks, but he does one different looking blink when the seed question is asked as if he is thinking, OK, here it comes.  The seed question ends with "...or is there something beneath the scene that we are missing?"  The interviewer immediately frowns and stays in a frown throughout the answer to the question.  They say that unless you are a total sociopath, shame is impossible to hide if you know what to look for....

Watch his body language.  It changes.  First, he shakes his head in acknowledgement as if he is thinking, OK, good, he asked the question almost verbatim as scripted.  

He holds his mouth different, he rotates his torso, he strugs his shoulders, he holds his head high for a moment, he leans in slightly for a moment, he is not smiling anymore.  He is NERVOUS.  

"A lot of us have become so jaded in what ever happens in the world, it's like yesterday's newspaper in five minutes, so people are dismissing some of these events....."

Could this be:

  1. Covering themselves for what they think may come
  2. Covering themselves for what they know will come, and if so, what do they know?

"....one day you won't be able to dismiss them and you will see a huge move...." (and there will be force manure, commercial signal failure, but the CME is the white knight who warned you it could happen).

Also, FYI, much better video quality here too:

Turd Ferguson's picture

Interesting observations

MODERATOR

And thanks for that youtube link. I think I'll swap it in.

OOOBuck's picture

Like a number of other Turdites

I wrote Bart Chilton when he was on the board at the CFTC.  I insisted on an investigation into what appeared to be a fraudulent system in metals futures, most notably in silver.

Unlike Mr. Duffy, I did not have the necessary statistics to demonstrate the way the fraud was being perpetrated and I didn't have the power of my office to gain anyone's attention. 

Mr. Duffy could have stepped forward and taken the bull by the horns.  He didn't.

Dingo's picture

Reminds me a little of the Ken Hoffman "Vaults are empty" quote

I think these little leaks are designed to get gold bugs excited, then frustrated, then angry, then depressed, then sellers, just before the price takes off (perhaps in 3, 4 or 5 years time). I guess then  they can say "we told you so!". However, I'm quite sure that all good propagandists understand this sort of psy op and its affects on people.

bookers126's picture

Cavuto Cut Him Off

Did you notice how Cavuto cut Duffy off  just as Duffy  said  "you will see a huge move in some of these precious metals and other products . . ."

Cavuto intentionally talked over him to shut him down.

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