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 - 12:00pm


"Doomsday Scenario"
That's hilarious!

— TF Metals Report (@TFMetals) January 10, 2019
Jan 10, 2019 - 12:11pm

I'm just a stacker

but Turd's insight helps me remain upbeat about the commitment I made long ago to stack PMs. The peace of mind is worth the admission price here. I only have to wait another 8 1/2 years to check the price on the smattering of cryptos that I bought in May of 2017. Zero or the moon; either way is fine because I have my stack!!

Jan 10, 2019 - 12:16pm
Jan 10, 2019 - 12:17pm


PVG moved from low of $7.13 to ask of $7.50. WTF

edit: ask now $7.58. I need some different friends that maybe are Market Makers for a living.

Joseph Warren
Jan 10, 2019 - 12:19pm

The Con

Excellent point made right away by Craig.

The banksters have been running what is probably the biggest con in human history. By staging a coup of America a century ago, they were able to use the power of their counterfeit printing press to buy control of the major centers of power in this society. They own the politicians -( thus the government) , media, education system, ‘market’ exchanges, etc, etc. All this is easy, when you can print ‘money’ and people are ‘legally’ forced to use it.

They count on the ignorance of the general public. They also count on the conceit of ‘informed’ members of the public who think they are smarter than those who designed and run the con game. The conceited actually believe the central bankers are making ‘mistakes’. They actually believe the central bankers mission is to ‘help the economy’. The banksters are enriched during both the boom and bust phases of the cycles which They create. Real assets can be grabbed at bargain prices during busts. More importantly, severe busts and depressions make desperate people more willing to turn even more power over to the banksters. (The central banker figureheads who you see in the ‘news’ aren’t the ultimate masters of the con.)

Of course, the conceited who think they know more than ‘ivory tower academics’ learned their economics in universities. Who do you think funded the major leading universities (which lesser institutions try to emulate) ? Who do you think paid the academics & helped advance the careers of those who came up with theories that support the con ?

The purchasing power of the dollar has been eroded by more than 95% over the last century. The banksters used those printed dollars to steal real wealth from the general population. Not only are they not your friend, they are Liberty loving and peace loving people’s greatest enemy.

The only modern politician that has spoken on the true nature of the Fed, is Ron Paul. Even he tread lightly when addressing the broader public. Other politicians have complained about high interest rates that negatively impacted the economy and their re-election prospects. None talked to the people about the bankster coup of America.

The monied interests targeted American education more than a century ago. As each generation is further dumbed down in the ‘schools’, their ability to even understand what is being done to them is greatly diminished.

No, the banksters aren’t your friends.

Jan 10, 2019 - 12:22pm


I spit coffee all over my screen until I got to the "just kidding" part. Just to be clear, I never heard of Pretium and I did not slam my fist on the table before running from the room.

Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Thomas More
Jan 10, 2019 - 12:51pm

There are stocks

and then there are They that are stalked.

That's us the PM holders.

We pay our taxes too.

Jan 10, 2019 - 12:52pm

fake fed minutes

Craig, Dimartino Booth agrees with you, make them up to fit the narrative, per zero hedge article
Jan 10, 2019 - 12:55pm

Right from the horse's mouth

It would be funny if the lie wasn't so sad as many folks who have no clue nor any worry about the monetary system will believe it.

Jan 10, 2019 - 1:06pm


Listen, EVERYONE! Especially all of the new people to TFMR.

We discuss this EVERY TIME the FOMC minutes are released. It DOES NOT take three weeks for a bunch of assistants and interns to transcribe the notes of the most recent meeting. That's preposterous!

Instead, the Fed waits three weeks before releasing the minutes simply so that they have time to "reshape" the message they were intending to get across to the "markets". If "the markets" failed to react in the manner the Fed wanted with the Fedlines, they simply use the intervening three weeks to massage the minutes.

Danielle DiMartino Booth is a former Fed employee and friend of TFMR. I could call her up right now if I wanted to. She's just as rational and sane as you and I and has often been a staunch supporter of Fed policies. I state all of this so that you understand this link. She's not a lunatic conspiracy theorist and neither am I. We are both simply stating the obvious and making it public.

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Key Economic Events Week of 3/30

3/31 9:45 ET Chicago PMI
4/1 8:15 ET ADP Employment
4/1 9:45 ET Markit manu PMI
4/1 10:00 ET ISM manu PMI
4/2 10:00 ET Factory Orders
4/3 8:30 ET BLSBS
4/3 9:45 ET Market service PMI
4/3 10:00 ET ISM service PMI

Key Economic Events Week of 3/23

3/24 9:45 ET Markit flash PMIs
3/25 8:30 ET Durable Goods
3/26 8:30 ET Weekly jobless claims
3/27 8:30 ET Personal Inc and Spending

Key Economic Events Week of 3/9

(as if these actually matter)
3/11 8:30 ET CPI
3/12 8:30 ET weekly jobless claims
3/12 8:30 ET PPI
3/13 8:30 ET Import Price Index

Key Economic Events Week of 3/2

3/2 9:45 ET Markit Manu PMI
3/2 10:00 ET ISM Manu PMI
3/2 10:00 ET Construction Spending
3/4 8:15 ET ADP employment
3/4 9:45 ET Markit Service PMI
3/4 10:00 ET ISM Services PMI
3/5 8:30 ET Productivity & Unit Labor Costs
3/5 10:00 ET Factory Orders
3/6 8:30 ET BLSBS
3/6 10:00 ET Wholesale Inventories

Key Economic Events Week of 2/24

2/25 9:00 ET Case-Shiller home prices
2/26 10:00 ET New home sales
2/27 8:30 ET Q4 GDP second guess
2/27 8:30 ET Durable Goods
2/27 11:30 ET Goon Evans speech
2/28 8:30 ET Pers Income and Spending
2/28 8:30 ET Core Inflation
2/28 9:45 ET Chicago PMI

Key Economic Events Week of 2/17

2/18 8:30 ET Empire St Manu Idx
2/19 8:30 ET Producer Price Idx
2/19 8:30 ET Housing Starts & Bldg Perms
2/19 2:00 ET January FOMC minutes
2/20 8:30 ET Philly Fed
2/21 Fed Goons all day at Chicago Conf.
2/21 9:45 ET Markit flash Feb PMIs

Key Economic Events Week of 2/10

2/11 10:00 ET Job Openings
2/11 10:00 ET CGP Hump-Hawk House
2/12 10:00 ET CGP Hump-Hawk Senate
2/13 8:30 ET CPI
2/14 8:30 ET Retail Sales
2/14 9:15 ET Cap Ute & Ind Prod
2/14 10:00 ET Business Inventories

Key Economic Events Week of 2/3

2/4 10:00 ET Factory Orders
2/5 8:15 ET ADP Employment
2/5 9:45 ET Markit Service PMI
2/5 10:00 ET ISM Service PMI
2/6 8:30 ET Productivity & Unit Labor Costs
2/7 8:30 ET BLSBS
2/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 1/27

1/28 8:30 ET Durable Goods
1/28 10:00 ET Consumer Confidence
1/29 10:00 ET Pending Home Sales
1/29 2:00 pm ET FOMC Fedlines
1/29 2:30 pm ET Powell presser
1/30 8:30 ET Q4 GDP first guess
1/31 8:30 ET Pers Inc and Spending
1/31 9:45 ET Chicago PMI
2/2 10:00 pm ET Chiefs win SB LIV

Key Economic Events Week of 1/13

1/14 8:30 ET CPI
1/14 9:00 ET Goon Williams
1/15 8:30 ET PPI and Empire Fed
1/16 8:30 ET Retail Sales and Philly Fed
1/17 8:30 ET Housing Starts
1/17 9:15 Et Cap Ute and Ind Prod

Forum Discussion

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