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


Jan 10, 2019 - 12:00pm

this

Ozymandias
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!!

mavens TF
Jan 10, 2019 - 12:16pm

HAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!

What a load of horse shit!

lakedweller2
Jan 10, 2019 - 12:17pm

Interesting

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.

lakedweller2 pfry
Jan 10, 2019 - 12:22pm

pfry

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.

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.

pfry
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
cashonly
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.

https://www.zerohedge.com/news/2019-01-09/bank-england-boss-chinas-renminbi-will-rival-dollar-global-reserve-currency

pfry
Jan 10, 2019 - 1:06pm

Exactly!

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.

https://www.foxbusiness.com/economy/did-the-fed-massage-december-minutes

abundance
Jan 10, 2019 - 1:16pm

Mr Fix you are correct. yesterday

zh had an article on Mattis and the military in 'general' and how many go on to be lobbyists, etc and how the military goes back and forth between gov and defense contractors....very sickening imo and theconservativetreehouse.com had a Dobbs post about Mueller involving Nunes that was also disheartening I, though I read a lot and listen to George Webb and others , have no idea how prevalent and deep the corruption was and is
Angry Chef
Jan 10, 2019 - 1:29pm

The Secret Logistics of America’s Global Deep State

https://www.strategic-culture.org/news/2019/01/10/secret-logistics-of-am...

How many here new the US Embassy in Iraq consisted of 110 acres ? How many new that there was a paper trail for every single transaction created by the DoD but apparently this doesn't include 21 TRILLION dollars which nobody can find. But you can find 38 BILLION for Israel but CAN"t find 5 BILLION for a border wall.

Angry Chef
Jan 10, 2019 - 1:32pm

Stock Market Dependent Fed: Four Fed Presidents Speak in Favor..

...of Pausing Hikes

https://moneymaven.io/mishtalk/economics/stock-market-dependent-fed-four...

''Forget about the Fed being data dependent. It's stock market dependent ".

Joseph Warren
Jan 10, 2019 - 1:34pm

@Mr Fix - the Biggest Mistake

that I think a lot of us might have made over the years is thinking it was about ‘economics’ and ‘finance’. We understood fiat and how the PMs are real money. At some level we thought the ‘markets’ would eventually reflect this. When it became glaringly obvious that the PMs are suppressed, we even held out hope that ‘government regulators’ would step in.(Ted Butler was a big advocate of this view.) Those of us that held these views were wrong. There are no real markets. A criminal gang staged a coup a century ago and their paid off whores run every major sector of society. If Pres Trump is legit (and he may only be just another figurehead performing theater, like his predecessors) - - the task before him is Herculean. The cancer has spread to every corner of our society. As David Stockman often says- “It’s the lousy money.”
Thomas More
Jan 10, 2019 - 1:46pm

more Fed bs

and by that I mean Balance Sheet. Honesty - what did Billy Joel say?
JackPutter
Jan 10, 2019 - 1:57pm

You may not know that Danielle DiMartino Booth still thinks....

that The Federal Reserve is both Federal and a bank. She ranted on Greg Hunter about in her last interview.

JackPutter
Jan 10, 2019 - 2:00pm

A Timely Commenter is hard to find.

Black Pigeon Speaks was very timely with this one;

France AWAKENS 2019: Weaponized Bank Runs Incoming

Dare we burn our own nest?

SteveW lakedweller2
Jan 10, 2019 - 2:14pm

Pretium

lakedweller2, you woke me up yesterday to the shenanigans they were playing with my small holding of PVG. So now we know that the whole "Barrick isn't buying" was a red herring and it was just simple front running of a news release after the close (isn't that supposed to be illegal?). Anyway the drop from CAD$11.70 to $10.33 yesterday and then a low of $9.45 today seemed rather extreme. Practically a 20% drop and the results (while a slight miss of guidance) aren't all bad since they shelled out US$237 million to buy back a stream, which means an 8% boost to income.

I see it now at CAD$9.67 and US7.31 with a penny spread on both markets, whereas you indicated some bizarre spread, or was it just an intraday move? So I decided to dip my toes into a small holding of April $11 calls on the Canadian market.

SteveW cashonly
Jan 10, 2019 - 2:28pm

Mark Carney

spouts the monetary party line but I remember him and Canadian Finance Minister, Jim Flaherty (now deceased) for their role in the 2010 G7 Finance ministers meeting in Iqaluit. The meeting concluded with a community banquet hosted by the Inuit but only Mark and Jim attended to enjoy the raw seal meat, especially the liver eaten warm from a fresh kill.

Angry Chef
Jan 10, 2019 - 2:46pm

The terrible forthcoming destruction of the « Caribbean Basin »

https://www.voltairenet.org/article204656.html

Venezuela...your next. Some many Countries to destroy and so little time... I guess Iran will just have to wait.

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