There can be little doubt that The Banks are once again preparing to smash the paper prices of gold and silver. To that end and to spread the word, this podcast has been made a FREE PUBLIC THREAD. Please, I urge you to take the time to listen to this over the weekend.
For today, we begin with a discussion of the two charts below. Here you can see a clear and present price manipulation designed to reset price lower and below the 200-day moving average before trading resumes on Sunday:
From there we take a few moments to discuss the long-term picture for the yen and the miners:
But the majority of the discussion centers upon the fraudulent, borderline criminal processes of The Comex. During the Commitment of Traders week (10/7--10/13), prices were restricted and capped as The Banks dumped longs and added shorts in order to meet new Speculator demand. This was sickeningly exaggerated this past Wednesday and Thursday as the metals finally surged through their respective moving averages. The case can be made that The Cartel Banks added over 22,000 new gold shorts as well as 6,000 new paper shorts.
Consider the following:
By creating 22,500 new contracts in just two days...almost all of them used to take a short position versus a new Speculator long...The Banks created new paper obligations for 2,250,000 ounces of "gold". The entire Comex vault structure only holds 6,704,000 ounces. So, in order to smother momentum and contain price, The Banks effectively shorted 1/3 of the entire Comex Vault in just two days.
How is this fair? How is this even legal??
And now prices are set up to get smashed again. By reviewing the latest Commitment of Traders report (https://news.goldseek.com/COT/1445023880.php) and comparing it to historical data, it's easy and logical to conclude that another coordinated, manipulative, Cartel Bank-driven price smash is right around the corner...perhaps beginning as soon as Monday. See these charts for reference:
I hope you have a safe and relaxing weekend. However, please be sure that you're mentally and financially prepared for what next week may likely bring.
p.s. We record these podcasts nearly every day for Vault subscribers. Details on how to subscribe can be found here: www.tfmetalsreport.com/subscribe