Cartel Batting 0.666

The Bankers have reached their target.

39
Tue, Apr 23, 2019 - 10:27am

Today's price slam marks the sixth day in the past nine where the price of Comex Digital Gold has been suddenly and deliberately slammed at/near 8:30 EDT. We wrote about this last week and, unfortunately, we have to write about it again today.

Here's the post from last Tuesday and the post we wrote for Sprott later that morning. You might go back and review both:

And now, with another slam today, that began just a few minutes behind "schedule" at 8:39 EDT, here's an updated chart of the past 10 days. These are 10-minute price and volume periods. If you look closely, you might notice a pattern...

And so here we are...finally at the target The Banks have pushed toward since the afternoon of the 1oth...shortly after the release of the March FOMC minutes. The only bright side? Every day for the past week we've mentioned what should be solid support near $1270 and we've already bounced from that level today. In fact, if we look even closer, any additional Cartel smashes SHOULD be gobbled up by stout support anywhere between $1260 and $1270. This is KEY support so EXPECT The Banks to try to break it. However, I expect it to hold. We'll just have to see who wins...

And, unfortunately, our charts and discussion yesterday regarding Comex silver sure rang true. In yesterday's podcast, we gave you the chart below and mentioned that today would be an important day as price was once again squared up against The Banks' trendline.

The only bright side this morning? We've been mentioning that the next line of support would be $14.70 and that's almost precisely where today's slam bottomed.

So now we wait to see what happens next...though the most likely outcome is that The Banks will use that trendline to smash price all the way back down the $14.30 before it finally breaks and ends.

(THEM: Technical analysis is useless in a manipulated market.

ME: TFMR's "Manipulation Analysis" is helpful precisely because these markets are manipulated.)

And finally, there's a lot of Apologist talk today about gold dumping only after the POSX began to rally. The first question you should ask is...Did the POSX spike the other five days at 8:30 EDT? As you can see below, of the six days where CDG has been smashed at 8:30 EDT, only the 10th and today have seen significant POSX spikes at the same time...and the 10th was BEFORE the FOMC and the spike was simply a reaction to the release of the March CPI that morning.

But, whatever. With the POSX back at the critical 97.70 level, what happens next is far more important than what happened ten days ago.

OK, as I close, I've got $1270 and $14.76. Let's watch to see what happens next and then get back together for a podcast summary later today.

TF

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  39 Comments

indiana rod
Apr 23, 2019 - 10:41am

NW VIEW Sands of Time

I agree with a lot of NW VIEW except my planting is limited to tomatoes. The flavor of Indiana tomatoes is hard to beat.

My bug out is not a rural area but one of the lowest tax and safest communities in the U. S.

Every day I thank the Lord for all of my blessings. When you see all the trouble in the world, the price rigging game of metals isn't that big of a deal.

Hillsie
Apr 23, 2019 - 10:41am

Numero Uno

its been a while 😋

Slam away monkeys, must be getting close......

lakedweller2
Apr 23, 2019 - 10:44am

Fascist State

Looks like the Fed wants to increase buying the markets again. They probably want to buy commodities at artificially low prices. Another day of UnAmerican activities by your Federal Government.

Blackwatersailor
Apr 23, 2019 - 11:02am

Shallow Partial thought of the week

I've been thinking long about Assange and his predicament. Both the D and his second in command have both stated that Assange was being targeted unjustly. So why keep going after him... Especially after his own proctology exam by the Mueller team. I came to the realization that if the D pushed through the legal charges against "A" then he would get at least two things. All unreleased data on his most hated enemys the Clintons/cronies and a legal precedent against a publisher. This would allow him to go after all the news publishers that have been attacking him and of course all the people behind the publishers that are against him. I am unsure if D understands how that will destroy the republic he currently is leading. I'm not sure he cares. I believe he is very focused on getting them before they do the same to him.

Really does he have another choice?

lakedweller2
Apr 23, 2019 - 11:10am

Truth

Truth is a choice that politicians and bankers consider never to be an option.
gf Blackwatersailor
Apr 23, 2019 - 11:23am

partial thought of the week

Blackwatersailer:

However, I guess, if Assange were to be found innocent, Trump would get "all unreleased data on his most hated enemies the Clintons/cronies" and there would be no "legal precedent against a publisher." One can hope.

Angry Chef
Apr 23, 2019 - 11:24am

THE MUELLER CA-CA REPORT OMITS DETAILS OF ESPIONAGE

If you're interested in a somewhat detailed analysis of the Mueller Report try and find some tiome to listen to this. The second link is a lenthy written analysis of the same report that provides even more detail.

Pssst...it's the British and the Queen's Privy Council and all the traitors that work for her/them.

https://aim4truth.org/2019/04/19/gabriel-and-mckibben-analyze-the-mueller-report/

https://aim4truth.org/2019/04/21/the-mueller-ca-ca-report-omits-details-of-espionage/

lakedweller2
Apr 23, 2019 - 11:31am

Read The Mueller Report

Don’t rely on someone else’s opinion of the facts. That is why we are in this mess. Read it yourself.
lakedweller2
Apr 23, 2019 - 11:39am

Irving IRVRF

Newmont buying in.
Joseph Warren
Apr 23, 2019 - 12:06pm

Today . . .

make it a point to discuss with friends, family, and acquaintances the fact that there are no real markets today. Talk to them about Comex Digital Gold and how a sh*tload of it (technical term) is regularly dumped over the space of a few minutes. Often at around the same time every day which indicates pretty convincingly that algos are programmed to do that very thing. It is obvious manipulation. Mention that the government ‘regulators’ don’t do squat and are likely part of the scam - no one is that clueless or stupid. Explain all this to them till you’re angry & worked up enough to actually be performing a pretty good rant.

See that look on their face ? It’s likely the blank look of incomprehension. They don’t know what the Heck you’re talking about. And some of them may even have a little bit of fear in their eyes. “Is this guy gonna go postal on me ?” could be in the back of their mind.

You've been into PMs for quite awhile and have already had the above conversation, several times ? So now you just don’t mention any of this to others because they just don’t get it and don’t want to hear about it ? Yep - been there, doing that.

So, I come to Turdville and talk with others who do get it. I rant a little and read other’s rants. This may not change the PM ‘prices’ (notice the quote marks), but it does help to know I’m not the only one going through this.

All the best to my fellow Turdites !,

- JW

matt_
Apr 23, 2019 - 12:09pm

Time to short the market

The S&P 500 is going up like gangbusters right now.

2936 as I type, and the old highs from September/October are at 2940.

Angry Chef
Apr 23, 2019 - 12:11pm

Lakedweller2

The Mueller report is embedded in the 2nd link I provided. You can read it their.
Angry Chef
Apr 23, 2019 - 12:14pm
matt_ Joseph Warren
Apr 23, 2019 - 12:16pm

My mother came for a visit. I tried to explain gold futures.

A futures contract is incomprehensible to most. I'm not sure I even get it 100% correct. I tried to explain the paper game where no one actually takes physical delivery of anything, and certain banks are granted the power to create contracts. After 20 minutes or so, she was still confused.

My mother had never seen bullion before, so I showed her 1 oz coins of gold, silver, and platinum. Everyone understands that when they hold it in their hand.

Compwiz4u
Apr 23, 2019 - 12:20pm

Gold Daily Chart

According to my analysis, Gold is back testing its breakout over the 2011 downtrend line as well as the 200-Day MA.

The up trend should resume with a vengeance in May.

I will extend the boundaries of my up trending pitchfork when the bounce occurs.

.

KeynesianKryptonite
Apr 23, 2019 - 12:29pm

John Williams of "Shadow Stats" Gives Us Stackers a dose . . .

of reality and hope.

Posted today at LewRockwell.com

Beware July 26: A New Super Recession Looms Towards The End Of The Year

(Some "cherry-picked" exerpts):

The Federal Open Market Committee (FOMC) policies of 2008 and 2018/2019, and the years intervening, have centered on the needs and health of the banking system, very much at the cost of domestic business activity and the economic health and prosperity of Main Street, U.S.A.

Beware July 26th, When a Formal Recession Likely Will Have Gained Popular Recognition! The annual benchmarking on July 26th, will revise recent GDP history, including Fourth-Quarter 2018, and First-Quarter 2019, both likely to the downside, with a headline first-quarter contraction in hand by then.

The Fed still has not succeeded in fully reestablishing banking-system health and normal, commercial functionality.

As global markets look to escape their looming losses in U.S. dollar holdings, that day of ultimate reckoning for the U.S. currency likely remains near. A flight from the dollar and hyperinflation fears could break over a very short period, as quickly as the banking panic of 2008, for example, or it could evolve over longer periods and intermittent crises.

Investors have no recourse other than common sense, such as investing in assets such as gold and silver, which will preserve the purchasing power of their assets against currency debasement.

GoldHermit
Apr 23, 2019 - 12:34pm

For what it's worth...

Looking at the continuous contract gold chart. A cup and handle formation began to form last June. The problem now is the handle looks like a head and shoulders with the neckline at 1275. Take it for what it's worth, but I'm still concerned after last year's action that bottomed Aug - Oct.

Additionally, I'm now considering the stock market a bubble. I've seen them a few times before. Prices go up no matter what. Remember, I jumped on Mnuchin's x-mas call as total BS before he hung up the receiver. This is definitely not normal action.


Apr 23, 2019 - 12:46pm

double bounce from near the 200-day

This is mildly encouraging but I doubt that They are done attempting to break it.


Apr 23, 2019 - 1:45pm

this week's Sprott article

Comex Gold Reaches An Inflection Point

A week ago, we discussed the obvious Bank program to drive the price of Comex gold back to its 200-day moving average. Well, here we are.

If you missed that post, you be sure to read it now as understanding the how and why of this latest price smash is critical to anticipating what is coming next.

Since the April 10 release of the March FOMC minutes, the price of Comex gold has experienced a counter-intuitive drop of over $50. Over these last nine trading days, price has often been overwhelmed with a sudden blast of contracts on the offer...leading to high-volume price drops. That this has occurred on six of these past nine days, with all of the smashes appearing in the 8:30-8:40 a.m. EDT time frame, leaves a trail of evidence implicating the usual manipulators.

And before you believe the generalist and MSM "explanation" of a stronger dollar causing these waterfall declines, perhaps you should check the US Dollar Index chart over the same, ten-day time period. Note that only two of the six days saw DXY spikes and one of them, the spike on April 10, was directly related to the release of the March Consumer Price Index.

So, in the end, it is safe to conclude that what we are witnessing is simply another Bank program to "wash the CoT"...meaning another deliberate scheme where the Comex market-making Banks act to drive price lower. In doing so, they break technical support levels on the way down. This leads to a shift in sentiment...if you can call it that...of the Spec HFT algo-driven trading funds. And this, in turn, leads to Spec liquidation. This change in overall positioning is then revealed through the once-weekly Commitment of Traders report that is generated by the CFTC.

Two weeks ago, on April 9, the Commitment of Traders (CoT) survey revealed that the net long position for the Large Speculators in Comex gold was 105,354 contracts. In the typical mirror reflection, the Banks and other firms labeled as "Commercials" were net short 132,611 contracts.

As noted above, the current price smash began the next day, April 10. The price of Comex gold fell $31 over the next five days and the most recent CoT, released last Friday, revealed that the Large Speculators had cut their net long position in half...down to just 56,273 contracts. The Specs took their cues from the early morning Bank price smashes and then acted as expected the rest of the day. The Banks used this Spec selling to buy back their own shorts and were thus shown to have trimmed their net short position back to just 76,430 contracts on that same report.

With another CoT report pending for this coming Friday...and with gold down again for the reporting week, expect another change where the Large Specs reduce their net long position and The Commercials reduce their net shorts.

So, now, the most important question becomes...Is it over? Having successfully driven price back to the 200-day moving average, while the selling relent and a recovery ensue?

Your answer? Probably not yet.

Though price double bounced on Tuesday the 23rd from very near the 200-day, The Banks are likely salivating at the thought of inducing the final Spec washout that would follow a daily close BELOW this critical support level. Therefore, be on the lookout for several more attempts to take out the 200-day between now and next Wednesday. And if price closes below...and then remains below the 200-day, a quick drop toward $1260 or even lower will follow.

But what happens next Wednesday? That date will mark the end of another FOMC meeting and brings another press conference by Chairman Powell. Unlike the two previous meeting this year that have concluded with deliberate smashes of Comex gold, I expect the opposite next week, with a rally that will soon extend back toward $1300 and beyond. With the Commitment of Traders report now "washed", a post-FOMC rally next week should not come as surprise.

We'll end this post by using the same points with which we ended last week. See below:

How do you "act accordingly"? You continue to use this current and obviously-fraudulent pricing scheme to your advantage through the consistent acquisition of physical precious metal at discounted prices. Only physical metal has the power to break The Banks' stranglehold on price and only physical metal can protect you from the inevitable collapse of the current, debt-based fiat ponzi system.

And acquisition of physical metal is easy...you can even hold it in your IRA! You can store it at a trusted gold bullion storage company or in your own, personal safe. You can hold it in gold bullion coins or silver bullion bars. Take your pick. Just be sure that you own some before the "everything bubble", that has been created by the global central banks, finally pops in the months ahead.

Angry Chef
Apr 23, 2019 - 2:17pm

Intelligence Officer; All but 8 of the emails on Hillary’s...

....private server in the hands of Chinese intelligence.

https://www.investmentwatchblog.com/intelligence-officer-all-but-8-of-the-emails-on-hillarys-private-server-in-the-hands-of-chinese-intelligence/

No big deal. The Chinese just went ahead and executed all the American spies that the CIA had infiltrated into the CPC. Wrecked an eleven year operation. Now Diane Feinstein with her Chinese spy limo driver for twenty years. That's something to talk about.

NW VIEW
Apr 23, 2019 - 2:17pm

Paper Silver and Paper Gold!

Yes the paper does control the market. I have never understood why the miners have never taken the banksters to court. The banksters only seem to mine paper and set the value of the real gold coming out of the ground. Supply and demand??? Works for paper only and is amazing. However, my big pile of spuds will be worth much when the banksters are selling paper spuds at the farmer's market in the coming era.

One other issue. The wife and I see the huge pricing, on worthless items at craft stores. Someone will cut a pile of brush, wrap a red ribbon around it and tie a bow around it and sell it for $90. It is actually worth less than six oz. of paper silver. Jim

kenmasters675
Apr 23, 2019 - 2:19pm

absolute nightmare

Jebus...10 days in a wrong miners crashing? a nightmare.

And we aren't done??!!? WE AREN'T F******* DONE? Silver down to 14.30?

!!!!!!!!!!!!!! Absolutely nightmarish.

Hoping today was the bottom but looks like there could be more pain.

AGXIIK
Apr 23, 2019 - 2:38pm

Today I tried to wash my COT but didn't read the instructions

Like all my minors, er miners, it shrank by 50%

Now I call it 'junior'

Speaking of shrinkage it's pretty obvious there are few if any signs that show some sort of beneficial expansion including the business cycle. The business was a tandem; now its a trike.

In a conversation with another commercial loan broker who's old enough to be on first name basis with the characters of Father Knows Best and Leave it to Beaver, we were talking about the coming Fed-caused broker banker singularity forming just over the Einstein Rosen bridge event horizon

Forget about shrinkage

If this thing blows, as it most certainly will, we'll all be spaghetti-ized as the entire world is sucking in a digitized black hole of debt and FIAT destruction

The only thing that'll float your boat is gold and silver


Apr 23, 2019 - 2:58pm

C'mon millennials, lets have socialism and a cashless society

I wonder if the guy with the stick is a banker, politician, or media mouthpiece?

Angry Chef NW VIEW
Apr 23, 2019 - 3:45pm

NW View...Miners Taking Banksters to Court

Why ? Because Mining is a capital intensive operation. Most Mines take a minimum of ten years ( usually longer ) to develop. So they need cash flow for at least ten years so they sell forward their production as co-lateral to the Banks. This is one way for the Banksters to control all Commodities. They control the cash flow thus they can control the underlying commodity itself.

infometron
Apr 23, 2019 - 3:49pm

A good debate

(aside from no mention of globalism v nationalism, the deep state, the Clinton crime cartel, and the Obama administration weaponizing the intelligence community to further a political agenda.)

https://youtu.be/CEfRMHe2AZc

@lakedweller2, you and your little buddy will enjoy both sides of this debate.

eastofwest
Apr 23, 2019 - 3:56pm

SLV GLD GDX

All opened lower then traded higher than the open ... But volume was not that big ...

It'stheBankers
Apr 23, 2019 - 4:17pm

Gold Allocation

I'm looking for insight and experience from anyone on whether or not pre-33 coins are worth to premium to avoid confiscation. If so, which series do you recommend? And does anyone think rare coins will benefit from a rising gold price more than just the value of the gold content?

NW VIEW Angry Chef
Apr 23, 2019 - 4:22pm

@ Angry Chef

Yes, that is the way it is and the way it works. It is just one of those things that destroys a free market. It is like the farmer, growing xyz, like soy beans, and the one who controls the price never plows even one acre.

My brother-in-law farmer has said if he ever wins a million bucks, he will farm until it is all gone. Why, I have pondered, would anyone want to enter into a venture, knowing that their profits will be regulated by those who do not work? Sorta like the politicians who do not want corporations to make a profit, like in N.Y.

Oh well, smarter people are out there and they have it all figured out and in their controls. I'm thinking about doing some honest fishing, down by Long Beach. I realize that I will need a license, special hooks, catch and release, limits, and I'm back to where I started.

matt_ It'stheBankers
Apr 23, 2019 - 4:37pm

To each his own

...but I buy bullion as cheaply as possible. I like well-known bullion coins and bars just so that they are recognizable when/if I need to sell them. I've never purchased anything collectable.

If confiscation actually becomes a problem, we will be in a world of hurt. Governments are known to change the rules to best suit themselves, so I wouldn't try to guess what the government would or wouldn't do in that scenario.

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