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Wed, Jul 12, 2017 - 3:37pm

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."


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Jul 13, 2017 - 6:18pm

Duffy's comments

Maybe he's just playing stupid? He knows gold is manipulated but by saying gold should be a lot higher he's trying to give the impression that he has no idea why the market values it at the price it does.

Jul 13, 2017 - 9:55am

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.

Jul 13, 2017 - 6:52am

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.

Jul 12, 2017 - 7:27pm

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.

Jul 12, 2017 - 6:28pm

Interesting observations

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

Jul 12, 2017 - 6:16pm

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?

" 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:

Market is slightly frustrated with some Fed comments: CME Group Chairman
Jul 12, 2017 - 6:11pm

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.

Jul 12, 2017 - 6:06pm

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.

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Jul 12, 2017 - 5:57pm

"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.

Jul 12, 2017 - 5:54pm

"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.

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