The Banks Fight At $15.80

Get ready. It's going to be like this all year.

44
Thu, Jan 10, 2019 - 10:45am

This is so freaking obvious and ridiculous that I thought it deserved its own post. What's even more ridiculous is the amount of shills and charlatans who still publicly cling to the silly notion that the Comex silver market is a free and fair marketplace for physical price discovery.

And we've been harping on this for months...even drawing the ire of our former friend, Uncle Ted. But pointing this out was NOT optional, regardless of whose toes we might step on. THE BANKS ARE NOT ON YOUR SIDE. THEY HAVE NEVER BEEN ON YOUR SIDE. THEY NEVER WILL BE ON YOUR SIDE. AND THEY WILL FIGHT US ALL THE WAY UP TO THE FINAL TICK OF THEIR FRAUDULENT SYSTEM.

Perhaps you missed these links from late last year? Perhaps we should re-post them now just in case??

Rather than belabor the point, let's cut to the chase....

As we've been discussing this week, the final technical barrier for Comex silver as it completes this first move of 2019 is the area near $15.80. Above there, and it's mostly clear sailing all the way to the destination of this initial rally....the 200-week MA and the Bank-enforced trendline which are both found near $16.40.

You can see the significance and why we expected some Bank resistance in this area on the chart below. Note that there is nothing else important about $15.80. There are no moving averages there and there certainly isn't some form of physical supply overhang at that price level. Instead, the ONLY reason for resistance is that price failed to rebound through this level back in July. And it was for this Mar20 contract, too! Therefore, we expected The Banks to attempt to create some trouble from nothing in this vicinity.

And They have! Check the utterly ridiculous price capping seen at $15.80 over the past five days. To accomplish this, The Banks have issued nearly 11,000 new contracts over this period. That's 55,000,000 new digital ounces...created from nothing...and fed to The Specs in order to keep price in check. If you've forgotten HOW this is done, see this link from 2017: https://www.tfmetalsreport.com/blog/8252/econ-101-silver-market-manipula...

And look at how egregious just the past two days have been!

So go ahead and talk about what an economic genius Armstrong is...and what a great job Moriarty does on Novo...and what a nice guy Fred Hickey is...etc etc. Knock yourself out. But you must eventually realize that these guys are actually HURTING YOU in your quest against The Banks and all of their nefarious activities. By denying the obvious and proven price manipulation, these jokers empower The Banks to continue their evil ways.

On the other hand, here at TFMR we will continue to do all we can to end this criminal charade. Will we fail? Will The Banks outlive us and our usefulness? Maybe. Sadly, the timetable of The Banks' demise is not of my choosing. We will, however, fight them with all we have, every step of the way. If we offend your sensibilities and step on your toes regarding your personal opinion of The Deniers, then we apologize in advance.

But it's going to get ugly in 2019. The Banks will be in retreat all year and they will fight us every step of the way...and their shills and charlatans will be out in force carrying their water. I will do my best to keep it civil and "take the high road" but please understand how all-encompassinglly serious this is for me and, as such, I will feel the need to return fire when necessary.

OK, what else is going on....

Chief Goon Powell is going to be speaking at 12:45 ET today. If form holds, he will attempt to be "somewhat hawkish" following yesterday's "somewhat dovish" FOMC minutes. See more here: https://finance.yahoo.com/news/morning-brief-fed-powell-clarida-11165052...

But what may be a more important event is the release tomorrow of the December CPI. With crude price falling precipitously in Q4, you should expect a low number. However, this also means that any level of 0.2% or more will be met with cries of "we must now expect another rate hike in March". That will play hell with the Comex metals so be on the lookout.

In the meantime, after reaching $1298 last evening, CDS was maneuvered back down in the overnight and again at the Comex open (which has become a regular occurrence lately). The key level remains $1300 and, once above there, we expect the final push toward our intital goal of 2019...which is $1310 at a minimum and $1330 at a maximum. There will be MUCH higher prices coming later this year but not without the usual CoT washing in between price surges.

OK, that's all for now. As you know, I'll be traveling later today. However, I recorded yesterday some terrific new audio with Ken Lewis, the CEO of APMEX. We'll post that later this afternoon in lieu of a podcast but I'll be sure to add some charts and thoughts at the end of the day to that thread.

Have a great day!

TF

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  44 Comments

Ferd Torgerson
Jan 10, 2019 - 10:51am

"Somewhat Firstish"

If CGP can be "somewhat hawkish" on one hand and "somewhat dovish" on the other, I guess it's ok for Ferd to be "somewhat firstish".

Right now I see silver at $15.69 so I guess they're succeeding for now.

Still have high hopes for much higher prices in coming months.

That's why I keep hanging out on TFMR.

Keep up the good fight, Craig.

Ferd

abundance
Jan 10, 2019 - 10:58am

Craig, could you make today's post public?

I would like to share it with 2 sites and maybe entice

some people.

abundance
Jan 10, 2019 - 10:59am

Craig, could today's post be made public as

I would like to share the link at 2 sites

and entice some people perhaps.

(second try posting this..first time this has happen)

RickshawETF
Jan 10, 2019 - 11:16am

Thurd!

I go to bed, gold's looking good.

I wake up in the morning, it's lying in the alley, battered, bruised, and bleeding.

Tough neighborhood . . .

Mr. Fix
Jan 10, 2019 - 11:33am

Criminals run every institution now.

Most of us get that the banking cartels are just parasitical criminal enterprises, but that's a myopic point of view.

Every layer of government and agency is also a criminal enterprise, as they continue to write laws that reinforce the criminality at every level.

Every organized 501(c)(3) religious entity also qualifies, but almost no one wants to go down that road.

All of these criminal enterprises are supported by the false belief that they are legitimate authorities in the first place.

Sitting around waiting for a systemic collapse in the banking sector is a waste of time, because the other entities that support these aberrant belief systems will cause people to simply replace one criminal enterprise with another.

Freedom can be found outside of these systems of enslavement, and the more the merrier.

There is no top-down fix for this, it needs to be from the bottom up.

When people stop supporting the megalomaniacal parasitical criminally insane scoundrels who rule over us,

Humanity will begin to recover its freedom.

Rule yourself.

Jan 10, 2019 - 11:39am

Just the same old NEEEE Rule

Same pattern. Seen most recently back on Tuesday.

lakedweller2
Jan 10, 2019 - 11:40am

Unexplained Hit Of Day #4 In Series

GTBDF Great Bear Resources

Down 10%.

Edit: Previous 3 were NSRPF, WTHVF and PVG. PVG had production report for 2018 which was 95-97% of production expectations with slight grade drop. Doesn't mention earnings. Drop in price began "before" the release date.

Edit 2: PVG earnings to be announced Feb 14. Food for thought: Barrick looking toward Canada. Todays price drop fair or knee jerk?

AGXIIK
Jan 10, 2019 - 11:42am

Since silver is holding at $15.70 then this is a good buying

level. Silver is still cheap, as is gold. The gold to silver ratio is 82.5 to 1, a solid indicator of recession Dialing into Graham Summers of Gains and Pains, there is something lurking in the weeds that caught my eye and lets me know China is facing some very serious conditions. China is buying and mining gold in the K ton range but their internal financial workings are in jeopardy.

According to Summers, China created $50 trillion in new financial assets, debt and debt financed assets, in the last 4 years. By comparison, the US created $57 trillion in sub prime mortgages before the 2008 collapse. China spent $25 in debt for every $1 in their GDP growth which now sits at around $12 trillion, second only to the US.

Their debt to GDP is well in excess of 400%, kited by debt, not actual real and sustainable growth. I surmise their economy is a Peking Potemkin village of fraudulently reported monetized economic growth that the Chinese masters demanded of their underlings.

Then you compare the Chinese 'growth miracle' of 8% increase in GDP year over year, it's apparent that it was all financed by debt. Their growth is almost entirely financed by junk shadow bank debt.

No country becomes wealthy on debt, only the appearance of wealthy until the collateral call strips away the curtains of financialized faux wealth, like the billionaire paupers who's appearance of money is ephemeral.

78% of the shadow assets are funded by unregulated shadow banking, floated by WIMPS and leverage built by investors who loan at unsustainable rates, leveraged 100 to 1.

China holds 15% of the world's supply of junk debt but nearly 80% of their entire debt structure is unregulated shadow bank financing. This is their sub prime fiasco in the making

With trade talks and tariffs hitting China hard and threatening even more pain, Summers opines that China is the world's biggest black swan. Given their insatiable appetite for gold and silver over the last decade, this could augur well for PM prices but it might also be a sign that if China STB, they may sell gold and silver to liquidate debt and meet margin calls.

$1 trillion in US treasury holdings won't stem the tide of loan defaults and asset price failures. Selling precious metals to pay the bills won't either because China spent decades acquiring their gold and silver. Selling to keep the lights on probably won't happen

I'd be a precious metal buyer in light of these facts

And then there's Bezoid and his $140 billion divorce from his smoking hot wife for the smoking hot chopper flying femme fatale, aka Networthectomy Munny Hunny.

Didn't Beez watch Eddie Murphy's comedy schtick Raw?

Half Eddie, Half!!!!

When McKensie's legal team gets done with Bezoid he'll be thinking a whole nother version of chopper n' it'll be a whopper

Sorry

I can't help myself. Bezoid is a detestable minor league globalist cuck and deserves to be taken to the cleaners

abundance
Jan 10, 2019 - 11:42am

Sure. Why not.

As per your request, this is now a public thread. Feel free to post it wherever you'd like and step on some toes yourself!

pfry lakedweller2
Jan 10, 2019 - 11:54am

pvg

lakedweller2, on your advice that barrick is going to buy pretium out i purchased some more this am. just kidding pfry

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