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The Iron Dome

245
Thu, Nov 15, 2012 - 12:23pm

You'll be hearing a lot over the next few days about the "Iron Dome" that Israel has. Apparently, The Gold Cartel has one, too.

As reported in the morning update to the previous thread, today we witnessed an extraordinary act of blatant manipulation in the gold pit. Over the course of about 5 minutes, one single order was filled. This massive dump of about 25,000 gold contracts managed to move the price of gold down by nearly $20. To give you an appreciation of the size and scale of this deliberately criminal act, 25,000 contracts is the paper equivalent of 2.5 million ounces of gold or, roughly, 77 metric tonnes. 77 tonnes is the paper equivalent to the alleged physical holdings of Australia or Indonesia.

Now, think about that for a moment. Indonesia is the 4th largest country in the world, in terms of population. Coming in at 250,000,000 people, there exists in Indonesia about 1/10th of an ounce of gold for every person. And some prick in New York was able to dump the entire thing in a matter of seconds. Amazing. And this is what passes for free and fair markets in the 21st century!

Anyway, back to the "Iron Dome" analogy....

Having been caught with their pants down (sort of like General Petraeus), once QE∞ was announced, The Cartels sprung into action to crush the momentum of the longs and flip the algos back into sell mode. By doing so, The Forces of Darkness were able to cover roughly 23% of their net short position over the four-week period from 10/4/12 to 11/2/12. Not eager to see a rebound as they are desperate to continue covering, The Evil Ones have been employing an Iron Dome of resistance at $1730-1740. Why, you ask? It's quite simple.

  1. Even Ronnie Milsap could see that a move back through $1740 and toward $1755 would show the clear end of the recent pullback/consolidation and indicate an imminent move back toward the critical Cartel line in the sand at $1800.
  2. The 20-day MA for the Dec12 gold is near $1714. The 5-day is near $1726 and the all-important 50-day is near $1744. Keeping gold below these key technical indicators is extremely important if you want to maintain the perception of "continued weakness".

So, here is a collection of gold charts, showing the Iron Dome at various stages as well as the disgusting, criminal actions that took place earlier today.

As you might expect, silver has been brutalized, too, and is subjected to its own Iron Dome. Fortunately(?) for silver, it is not quite yet at the same critical stage as gold and has therefore been able to hold in a bit more strongly. Expect a significant fight, though, once silver moves through $33.

Now, on the bright side, we have this:

  • Today's massive raid occurred before the London PM fix, which ended up coming in at $1710. This has resulted in some extremely large physical purchases and this will almost certainly have to be reflected in the paper price over the next few days.
  • Additionally, some of the 25,000 contracts will need to be covered before the next CoT cutoff on Tuesday. Remember, Tuesdays are often either Happy or Terrible based upon how The Cartels need to paint the survey.

So, hang in there, fart in their general direction and take out your anger by buying some physical today. I am hopeful that, one day soon, the paper manipulation game will be compromised and the perpetrators will be exposed for the lying, thieving, despicable creatures that they are. Until then, keep smiling and continue to accumulate your personal financial protection at these deeply discounted prices.

TF

p.s. I try to remember to post a notice to Twitter every time I make a new post. If you haven't already, you should consider "following" @TFMetals.

5:00 pm EST UPDATE:

The metals have continued to slowly improve this afternoon from the savage beating they took this morning. This is quite positive for us Good Guys. However, I feel obligated to draw your attention to something that has me concerned.

Did you see this ZH article earlier today? https://www.zerohedge.com/news/2012-11-15/gold-tumbles-same-dedicated-seller-reemerges. This "dedicated seller" thing set off some alarm bells for me as it reminded me of the period back in late September and early October when we were all similarly flummoxed by a Cartel "Iron Dome" near $1780 in gold and $35 in silver. I wrote about in several posts but summarized the problem on this post from Thursday, October 4: https://www.tfmetalsreport.com/blog/4239/deja-vuall-over-again

Here's the problem...That week of desperate, regular Cartel capping culminated with things breaking down on October 5 and the metals have been under consistent pressure ever since. Of course, past isn't always prologue and history doesn't always repeat, but I'm the one who is paid to recognize patterns and this is clearly one we must keep watching. The main level on which to concentrate would seem to be $1705 in gold. A break there and it will become likely that gold sees at least a re-test of the lows of 11/5, near $1670-1680.

This is no reason to be scared, just cautious. Let's see what happens tomorrow. Have a good night.

TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  245 Comments

George Weist · Nov 15, 2012 - 9:59pm

Only speaking from experience. USPS loses packages regularly. Signature or not. The package getting to its destination is the 1st priority. We ship (and receive from) all over the USA and the packages go missing all over. We even had a registered package go missing coming from New York earlier this year. Come to find out that whole bag of registered mail went missing, originating in New York. Registered mail was how the Hope diamond was shipped. Damn, if thats not safe, then what is? My package was irreplaceable. It wasnt a diamond but it was some valuable Canadian coins. Oh well, my fault for not insisting on another delivery method. 

Thievery Corp. · Nov 15, 2012 - 10:01pm
George Weist bob · Nov 15, 2012 - 10:02pm

but since you've tried these names I gotta try some myself. lol

bob George Weist · Nov 15, 2012 - 10:09pm

i did get a smile out of a clerk at a coin shop when i used "kilgore trout." she must have been a vonnegut fan.

DayStar · Nov 15, 2012 - 10:11pm

I see that TF has been all over the Palestinian-Israeli conflict, but the Harvey Report has some words about Israel's Pillar of Cloud operation. Bill Murphy says the silver LBMA is extremely tight. DS has some speculation about the silver Comex because of the high OI and the tight supplies. European and Indian gold were just over 1% away from their all time highs today. Ranting Andy thinks gold will go crazy in these currencies when they finally punch through their highs. Japan's economy looking very shaky. The consummate European gadfly, Nigel Farage, weighs in on the general unrest in Europe. All this and more on the Harvey Report! https://www.tfmetalsreport.com/comment/579808#comment-579808

DayStar

Ian · Nov 15, 2012 - 10:11pm

Anybody got anything on this? I'm not really sure if this is a big deal or not, what the ramifications are, etc....just thought I'd post it in case it hadn't been yet (sorry if a repeat), to see what it might mean in the grand scheme of things.

https://www.cftc.gov/PressRoom/PressReleases/pr6413-12

RELEASE: PR6413-12
  • November 15, 2012

    CFTC APPROVES POSITION LIMIT APPEAL

    Washington, DC – The Commodity Futures Trading Commission (CFTC) will move forward with an appeal of a federal district court’s decision vacating the position limits rule. The Commission approved the appeal on a 3-2 vote.

    “As part of the Dodd-Frank Act, Congress directed the Commission to limit promptly speculative positions in physical commodity futures and options contracts and economically equivalent swaps. The rule addresses Congress’ concern that that no single trader be permitted to obtain too large a share of the market, and that derivatives markets remain fair and competitive. I believe it is critically important that these position limits be established as Congress required. I support the Commission's continued efforts to put in place position limits on speculative positions by appealing the September ruling," said CFTC Chairman Gary Gensler.

    Last Updated: November 15, 2012

George Weist · Nov 15, 2012 - 10:17pm

Google for lost registered package. Dead in the water. The whole bag of registered packages...Stolen.

Big Gene · Nov 15, 2012 - 10:24pm
Horatio Cobblepot George Weist · Nov 15, 2012 - 10:28pm

Punk-Assets, sorry about your painful experience. That is one of my worst fears because I place sizeable coin orders. I did notice that your package vanished from Albany NY. I know Albany well enough and would not walk the street there after dark. I'm just guessing that mail thefts occur more often in certain economically depressed areas.

Did insurance cover your losses?

s dewald · Nov 15, 2012 - 10:29pm

100 years ago, there was no elemental Aluminum anywhere except in a few laboratories. We didn't cook on it, wrap our food in it, inject it into ourselves in vaccines, or breathe it's dust. All that has changed in the last on hundred years.

tom · Nov 15, 2012 - 10:35pm

maravich44 tom · Nov 15, 2012 - 10:49pm
maravich44 tom · Nov 15, 2012 - 11:03pm
Gold Five · Nov 15, 2012 - 11:03pm

I'm surprised this one didn't make the top 10:

https://www.youtube.com/watch?v=k4f3vJjvR9c

;-)

Patrancus · Nov 15, 2012 - 11:08pm

Fiscal Cliff is just another fraud that is being foisted upon american people, by progressive spenders and benders along with their shills in their media now really think about it, automatic sequestration spending reductions will only amount to 136 billion in a budget graced by obamy to spend nearly 4 trillion, come on folks get real, more like Fiscal Stiff. The really big show is still to come. Most times these re-elected 2nd termer presidents get a little honeymoon after the re-election festivities, this guy gets nothing cause he owns the shittyist economic recovery in us history, He should have quit while he was ahead, and allowed his opponent to take the heat that is coming, their is a title wave of economic unrest brewing by the american people who the pay the bills, the free and easy credit orgy is coming to an end before you know it. cheers!

Roark · Nov 15, 2012 - 11:09pm

From the earlier thread: I really dislike saying anything negative about a supplier, but I think the time has come for me on this issue. I have had "issues" with them. Some folks use him for small purchases and have good success, but more and more the larger purchases seem to be having "issues". I had issues. :( And not just once. Unfortunately I had to give up on Tulving after the old man essentially told me to get off his back and "it will ship when it ships". Wrong answer. I was polite and patient with them, but as soon as my order arrived, I voted with my feet. Sayonara. No mas. Hay problemos. I am all about giving a vendor the benefit of the doubt, but 3-1/2 weeks to get my stuff was not acceptable. Lower margins be damned. My impression was he simply waited until he could buy the metal for less than he had booked from me. In other words, he was frontrunning my order and at my expense. YMMV of course, but I now use Provident Machine Bearings and have NEVER had any issues. Contrast this with 2 out of 5 "issues" with Tulving. No flame here. Just relating my experiences.

comrade nooni · Nov 15, 2012 - 11:11pm

Sodium fluoride is a waste product of aluminum production.

Thank you Edward Bernays!

https://memoryholeblog.com/2012/06/23/poison-is-treatment-edward-bernays...

https://www.ahealedplanet.net/fluoride.htm

And thank you Alcoa!

Nice job, well done boyz

E H · Nov 15, 2012 - 11:14pm

here's some rock and roll, AND some rhythm and blues,

and to our omnipotent, all knowing, all powerful, all loving leader :-), don't let those trolls ever get that...

Video unavailable

Grabbed hold of your coat tail but it come off in my hand,
I reached for your lapel but it weren't sewn on so grand.
Begged, promised anything if only you would stay,
Well, I lost a lot of love over you. Yeah! that's right
Fell down to my knees and I hung onto your pants,
But you just kept on runnin' while they ripped off in my hands.
Di'mond rings, vaseline, you gave me disease,
Well, I lost a lot of love over you. Oww oh play it yeah alright whooooooo
Boozin'in the bar rooms, cruisin' in the dark;
Tie your hands, tie your feet, throw you to the shark.
Make you sweat, make you scream, make you wish you'd never been,
I lost a lot of love over you. whooooooooooooooooo arghhhhhhhhhhhhhhhh

LOL!!!

Horatio Cobblepot · Nov 15, 2012 - 11:16pm

Good decision Roark. Their website design pretty much tells me how they think and operate. IMHO that deserves a big AVOID.

Saratoga Prepper · Nov 15, 2012 - 11:23pm

Wouldn't walk the streets of Albany after dark? Really? I do it all the time. Now Schenectady or Troy....that's a different story.

tom · Nov 15, 2012 - 11:26pm

it was indeed

but back on 'topic'

stack

Peter · Nov 15, 2012 - 11:26pm

And WOULD do a BETTER JOB...

foggyroad Turd Ferguson · Nov 15, 2012 - 11:28pm

The skill of flying the best, fastest Jets in the world at literally a few feet of the the ground is something I can only marvel at, the best pilots in the world on display!

Amazing!

America is the best in the World on so many levels, the pinnacle of human advancement and achievement.

These superb pilots exemplify everything I love about America, the best, the brightest on display.

The world needs America to resume it's leading by example, it's integrity, it's promise, it's hope.

Don't you realize that every kid in the world loves his big brother, counts on his big brother, wants to be just like his big brother.

God Bless America! 

E H · Nov 15, 2012 - 11:32pm

they rule by fear. when we stop being afraid, their power goes "poof". it is happening right now. you can only take so much away from people before they reach the conclusion, "this is so bad, it ain't worth living." then people aren't afraid to die. they will fight back, with all they got. think of Scotland, William Wallace, you know, the movie Braveheart. this is why our gov't is in a scramble to get those FEMA camps up, get armed with close quarters ammo across civilian agencies, censor the internet, and the list goes on, and lay all the legal groundwork to make it all go seamlessly. so get pissed, get winning:-) 

but truth is, we aren't going to get to that point. they overplayed their hand so bad this time - they are hopelessly screwed, and they know it (some of the bastards do).

Magpie · Nov 15, 2012 - 11:33pm

and didn't listen to the audio Katie Rose provided because of that, you can read a boatload of articles written by the true gem from that show: Dr. Edwin Vieira.

A link to his articles here:

https://www.newswithviews.com/Vieira/edwinA.htm

A good place to start might be: A Practical Guide to "Gold Clauses"

And, if that's not enough, and you're willing to cough up 200 bucks, his book "Pieces of Eight" can be purchased from Amazon.

https://www.amazon.com/Pieces-Eight-Monetary-Disabilities-Constitution/d...

James Turk's review here:

https://www.gata.org/node/7536

tom · Nov 15, 2012 - 11:39pm

i mean restart the presses

Peter · Nov 15, 2012 - 11:46pm

Deb · Nov 15, 2012 - 11:50pm

I bought from Tulving from 2005 until last year (with pooled money from family members due to his large minimum order amounts) and always got the goods within two days, whether the order was for gold or silver. It was slick. Place the order, wire the funds the same day, confirmation of shipping by email the next day, get the goods two days after ordering.

Worked well---until it didn't. The last order I placed was for 20 oz. of Gold advertised as available on the website. Wired the money, did not receive the email that it had shipped. After 5 days, I emailed Hannes Tulving and received a curt reply to talk to Karen in the customer service department. She, unlike, her boss, was very personable, and told me they had a limit placed by their insurance company on how much they could ship out each day and she couldn't tell me when my order would ship. News to me...never had this be an issue in the past. Because I did not know when to expect the goods, I had to postpone the vacation I had planned to take. I finally received the shipment after three weeks. Had I been told there would be a delay in shipping when I placed the order, it would not have been an issue, but I was not told that. That three weeks seemed interminable!

Like Roark, I voted with my feet and have only ordered from Provident Bearings since that time. No need to wire the funds. There will be a delay in shipping until my personal check clears, but I know that up front, so it is not a problem. Last time I ordered a monster box of silver Eagles from them, the price over spot was exactly the same as it was from Tulving. 

Peter · Nov 16, 2012 - 1:27am

Zimbabwe Bob · Nov 16, 2012 - 1:46am

FYI, important development in the Physical Gold market. 

Check out this link to APMEX the largest online physical PM dealer in the US and they ship to 50 countries.

https://www.apmex.com/Category/1151/Pamp_Suisse_Gold_Bars__Pendants.aspx

It is shocking to see them out of stock on 1oz, 10oz,100 gram, 10gram, 5gram Pamp Suisse bars. They normally have thousands of these stock.

Anyone who is knowledgeable about physical gold knows that these are the most popular and widely held small bullion bars held worldwide. This is pretty much the only brand and sizes desired all over middle east if anyone has been to Dubai they know what I am talking about.

I have never seen this situation in the many years I have checked APMEX. What does this mean for the physical PM market?

This seems like a very significant development.

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Key Economic Events week of 5/7:
5/9 8:30 ET PPI
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Key Economic Events week of 4/30:
4/30 9:45 ET Chicago PMI
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5/1 9:45 ET PMI and ISM Mau Idx.
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Key Economic Events week of 4/16:
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Key Economic Events week of 4/9:
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