Of course the gold and silver markets are manipulated. You have to be either blind or a Harvard Graduate with doctorate in Economics to ignore the fact. The purpose of the manipulation is the same as the purpose of the French Revolutionaries in attacking gold when they were printing their “Assignats” paper money like crazy; to try to suppress the indicator which showed the destruction they were carrying out with unlimited printing of fiat money. Gold tells the Truth and so it is an enemy of those who wish to deceive their populations. - Hugo Salinas Price, Mexican Billionaire and crusader for sound Government financial policyHere's my latest article, co-authored with Dr. Paul Craig Roberts - detailing how the Fed/banks manipulate the price of gold using Comex paper gold futures as their conduit: Market Manipulations Become More Desperate
The outright lies and absurd propaganda streaming from the Government, the Fed and Wall Street are now reminiscent of the old Soviet Politburo and Pravda during the Cold War days. Remember that? You have to wonder exactly just how badly the system is collapsing behind the Capitol Hill "curtain" given the extent to which those in charge of the financial system are doing everything they can to prevent the markets from freely determining gold's free market price...
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Dave, just trying to see both sides here -- on the graph in your piece, there is a huge green spike bar right before the large red down bar, and if you take into account the time period before the green up spike (which was downwards), the overall low to high movement called short covering is at least the same magnitude as the down move after that is being called manipulated.
ReplyDeleteSeems that either both are just "natural" HFT market forces at work, or otherwise it is definitely a one sided view to call one direction manipulated and the other a flurry of short covering.
And gold is currently comfortably over $1270 right now (yeah!) so again, why are these called manipulations usually only when in the direction that goes against ones views? Just trying to be level headed about this.
Thanks,
Mike
No such thing as "natural" HFT. If the manipulation bombs are never launched, the HFT selling isn't triggered. The short-covering was natural short-covering in response to the SPX futures doing a cliff-dive. Gold has been trading to a large degree inversely with the SPX this year (flight to safety). Asian physical buying was steady all night long, the hedge funds who are short scramble to reduce shorts and BAM, a big sell-bomb is dropped and that triggers the downside momentum. Make sense? Capito, il mio amico?
DeleteI am a gold investor myself. But why bother about manipulation claims. Gold is traded in over 10 independent exchanges worldwide. There has got to be a huge conspiracy if people claim that there ia manopulation.
DeleteEven if there is manipulation, it is only short term. If you are the manipulator, you better hope that the market follows your lead, or you will lose tons of money if the market goes the other way.
Based on the content and tenor of your comment, according to Hugo Salinas Price you are either a Harvard Graduate with a Phd in economics or blind. Given that two of the last three Federal Reserve Chairmans openly admitted that gold is manipulated, I would say that you are either blind or just ignorant. Or both.
Delete"There has got to be a huge conspiracy if people claim that there ia manopulation. ( is manipulation. sic)
DeleteLIBOR anyone?
Great stuff Dave thank you
ReplyDeleteFailure to Launch
ReplyDeleteThe recent consensus that the economy was "taking off" has turned out to be dead wrong, with U.S. growth falling sharply of late.
https://www.businesscycle.com/ecri-news-events/news-details/economic-cycle-research-failure-to-launch
The one and ONLY answer to the debt problem is to declare it null and void because of FRAUD! It is fraud because it is mathematically impossible to repay ! It can not be repaid because the interest is never created on the loan and that is fraud ! And fraud voids all ! If we don’t void all out of thin air debt the bankers will own almost EVERYTHING ! And we will be homeless slaves ! They have a license to counterfeit ! Can I counterfeit the money to repay the loan ? Why not ? If we even attempt to repay a impossible debt (the national debt) all we do is show our ignorance ! The way to fix this mess is so simple a 3rd grader can figure it out ! We void the fraudulent debt! and everyone keeps ALL the items they have so called debt on ! And then we start to use a debt free currency and / or gold and silver ! And then we will have a robust economy like never before — OR WE LET THE BANKERS STEAL EVERYTHING !
ReplyDeleteI was in about the third grade when the news was talking about the national debt and I asked my dad who do we owe money to and who could possibly be richer than the United States? and where did they get the money? And then my dad took a gulp off his beer and said we owe it to our self ! I said that’s the dumbest thing I ever heard of ! that’s like me borrowing from my right pocket and setting fire to the interest and putting the rest in my left pocket ! This was about 1972 ! But Dad was wrong! We owe it to international Bankers running the biggest Ponzi scheme on earth called The Federal reserve system! And yes it really is this simple ! The bankers have a shoe in on ALL loans they make ! All they have to do is stop lending and then start foreclosing on ALL debts!-meaning they now own everything that has a debt by having a license to counterfeit ! So we 1 keep getting fleeced by continuing to pay this fraudulent scheme ! OR 2 we declare ALL out of thin air debt NULL AND VOID because of FRAUD ! And we ALL keep everything we have so called debt on! MOST people don't get this part Every car, boat, house, machine, tool, farm,ect. has already been paid for by the fraudulent paper! So no one looses ! WE sure as hell cant give it to the banksters! (let them steal it) AND IT DOESENT MATTER IF YOU WANT TO REDUCE THE DEBT 90% ITS STILL UNPAYABLE! So when we void the FRAUD This will be the ultimate FRESH start for everyone ! Share this if you want THE solution to the WORLDS problems! If not everything will continue to get worse until we have HONEST DEBT FREE MONEY /and GOLD AND SILVER ! And there is plenty of gold and silver! just Divide the paper money (FRN) by the gold /silver and you have the value of them! NO MATTER WHAT IT COMES TO per OZ ! Then we would be happy to work for SAY A ONE OZ. SILVER COIN A day ! Because a one OZ. silver coin ( REAL MONEY ) will buy what $100 - $200 did before the reset! THINK ABOUT IT! This is what Scripture calls the jubilee !
J. M. Keynes: The Damage Still Done by a Defunct Economist
ReplyDeleteSeventy-eight years ago, on February 4, 1936, the British economist John Maynard Keynes (1883–1946) published what soon became his most famous work, "The General Theory of Employment, Interest, and Money." Few books, in so short a time, have gained such wide influence and generated so destructive an impact on public policy. What Keynes succeeded in doing was to provide a rationale for what governments always like to do: spend other people’s money and pander to special interests.
In the process Keynes helped undermine what had been three of the essential institutional ingredients of a free-market economy: the gold standard, balanced government budgets, and open competitive markets. In their place Keynes’s legacy has given us paper-money inflation, government deficit spending, and more political intervention throughout the market.
http://epictimes.com/article/310320/j-m-keynes-the-damage-still-done-by-a-defunct-economist
Dave, why don't you stand for delivery on Comex contracts and end this farce. You are also a hedge fund manager. And why didn't Eric Sprott do us a favour?
ReplyDeleteMorgan Warns of Possible Physical Gold Shortage
ReplyDeleteThe bit of controversy today is how much gold exactly is flowing from West to East, most specifically to China?
Bloomberg had a piece in print today about the record amount of gold that was imported by China last year through Hong Kong, exceeding 1,000 tonnes for the first time. You may read it here.
What was even more interesting were the gold bullish comments that were made by two guests, one from Pimco and the other by Ed Moy, the chief strategist at Morgan Gold. I include the interview below. He notes that there is concern about a physical gold bullion shortage.
"Quantitative easing has had a distorting effect on the price of gold...Overall when you look at gold, there are two separate pieces here. One is how the West looks at gold, and they have been investing in a lot of electronic derivatives and proxies for gold. Whereas the East has been buying a lot of physical gold. That demand has actually gone up. China looks like it bought 1,000 tonnes in 2013 making them the number one buyer in the world
Do you have a concern about a possible gold shortage?
Absolutely!
How ironic, now that JPM has hammered the paper price of gold down and covered their shorts, and are said by some informed analysts to be sitting net long gold. Classic.
http://jessescrossroadscafe.blogspot.com/2014/02/gold-daily-and-silver-weekly-charts_10.html
Facebook Fraud - How Much of Facebook's Ad Revenue is Legitimate?
ReplyDeleteHere's the question of the day: When tens or hundreds of millions of dollars of stock market valuations are on the line, does integrity go out the window?
http://globaleconomicanalysis.blogspot.com/2014/02/facebook-fraud-how-much-of-facebooks-ad.html#ckxcYO4WzAQk8yIg.99
I love these sell bombs. Let's me continue to accumulate on the dips. Keep 'em coming!
ReplyDelete