The Banks Fight At $15.80

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

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:

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:

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!


About the Author

turd [at] tfmetalsreport [dot] com ()


Jan 10, 2019 - 2:48pm

Rear View Mirror

Gold is watching palladium, slowly overtaking, in the rearview mirror . . .

Clarkii Stomias RickshawETF
Jan 10, 2019 - 3:37pm

Palladium catching Gold

I honestly think it's a good thing, Rickshaw. It will grab people's attention. It will say "something is wrong here". Maybe the canary in the coal mine won't be gold this time, but palladium. Anything that shines the light on the intrinsic deception and fraud in the system is fine by me.

And yes, I wish I'd bought Palladium last summer...

lakedweller2 SteveW
Jan 10, 2019 - 5:09pm


SteveW: This AM I was talking PVG hitting a low around $7.13 then running back up to a $7.50 ask. The bid was $7.48. I agree all this drama over last 2 days seemed a little extreme for those of us holding PVG, but probably a cash cow for buyers as for little or no reason the price was smashed. There appears to be several everyday that either for no reason or a reason yet to surface, prices are irrationally smashed. Now, I guess that if the technicals are indicating things appear to be getting better, and you have an inside ability to buy things below market and possibly sell above market because your buddy has an "algo machine" and you know the government has no regulators, then this is a GREAT Market and a time to participate in PMs. Just look for the "sale" of the day.

In regard to PVG and its production #s as well as its loan and stream buy back...that sounds good. In addition, how does anyone know if the production slight miss really matters when earnings come out. Their grade was still over 11g per ton (I think) and not sure of their costs of production. Might be a good year...but what does that matter to manipulators and criminals. I was thinking of buying more, but in order to do so, I would have to sell something. So instead I went out to eat and ignored the SOBs jerking the price around.

So today overall wiped out every gain from yesterday...almost to the penny. Best I can tell the only things going on today to make it go negative was Powell telling jokes at some interview and Trump doing a photo op on the border with thugs, perverts and demons attacking him every step of the way. Maybe it was kids playing...hard to tell.

Just wait until tomorrow and the CPI. Seems more important that 800,000 won't get paid. My son works in Washington, so I am close to having to pay for Trump not getting a wall. Simultaneously, the crooked Banks will take the money I could have used to pay my sons bills, that I shouldn't have had to pay in the first place. First they come for others...then they come for you.

Jan 10, 2019 - 5:30pm


I usually just watch these videos but this one shows some real oddities. Ever see a car windshield melted?

PARADISE DESTROYED: California Firemen Find Signatures of Directed Energy Weapons
Jan 10, 2019 - 6:45pm

cashonly, will ask a fireman what he thinks

about the video.

imo, the goal was to bankrupt PGE (my provider)

and don't know why that was the goal but I have no trust

Jan 10, 2019 - 8:28pm


Please do, I would appreciate other opinions on this. Thanks.

Jan 10, 2019 - 8:50pm


See if it goes sub 95.

edit: bingo

Jan 10, 2019 - 10:17pm

Paradise fire

I am a former volunteer fire chief for over a decade, and I can assure you that the scenes from the video are beyond anything I have ever witnessed in thirty years of experience. How it was done I do not know, but clearly there was nothing natural about these events.

Jan 10, 2019 - 10:45pm

thanks phil. zh has an article of PGE (my provider)

going bankrupted which I feel was the goal..

only I have no idea why..if anyone sees anything

explaining such doings, please post it.

SteveW abundance
Jan 10, 2019 - 11:13pm


I've heard about PGE potentially being sued or otherwise on the hook for the Paradise fire. Frankly I don't see the connection since the narrative is that it was a spontaneous natural forest wildfire.

Or are there more narratives? How is PE responsible? Downed transmission lines or something more nefarious involving in house electrical systems?

Jan 11, 2019 - 7:40am

A memory was triggered from that video

I thought I had seen this before. If you go to 5:23 of this video, you will see something eerily similar.

WTC 7 Before Collapse

Using the reporters word's "Barclay and West Broadway" and the fact that he points to the right to identify WTC 7, I can identify where this took place. The diagram below has my own red "XXXX" circled to show where this line of vehicles were located in respect to the events.

Thomas More
Jan 11, 2019 - 9:17am

Interesting cashonly

and right on cue - knock Gold down at 9:05. Can't have Gold going up with Stocks going down.

Jan 11, 2019 - 9:18am


Back to work and pumped the dollar over 95. CPI should be wonderful. Dave Kranzler wrote article that is on that indicates real inflation been running 6-10%.

They lied to us...they lied to us...and stole our money at the same time. Welcome to Friday.

Jan 11, 2019 - 10:07am

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