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Deutsche Bank Provides "Smoking Gun" Proof Of Massive Rigging And Fraud In The Silver Market
by Tyler Durden Dec 8, 2016 3:03 PM
http://www.zerohedge.com/news/2016-12-08/deutsche-bank-provides-smoking-gun-proof-massive-rigging-and-fraud-silver-market
My oldest source/collection of gold commentary: http://www.gold-eagle.com
Precious Metals Key Levels For Buyers
Wednesday November 23, 2016 14:56
http://www.kitco.com/commentaries/2016-11-23/Precious-Metals-Key-Levels-For-Buyers.html
An interesting list is at the link above...
These dirty bitches broke $1200 POG... unreal!!!
Precious Metals Stocks May Be Poised for a Major Upswing
Source: Clive Maund for The Gold Report (10/31/16)
https://www.streetwisereports.com/pub/na/17161
Technical analyst Clive Maund outlines why he believes the correction in gold and precious metals stocks is coming to an end.
Even the MA300 is trending up for $GOLD:
From... ThirdEyeOpenTrades...
In Major Victory For Gold And Silver Traders, Manipulation Lawsuit Against Gold-Fixing Banks Ordered To Proceed
by Tyler Durden Oct 5, 2016 2:45 PM
http://www.zerohedge.com/news/2016-10-05/major-victory-gold-silver-traders-judge-approves-manipulation-lawsuit-against-hsbc-s
The lawsuit is one of many in the Manhattan court in which investors have accused banks of conspiring to rig rates and prices in financial and commodities markets: courtesy of this ruling, alleged "manipulator" banks will now be far more eager to reach a settlement or else risk a full blown discovery process.
Sleep of the Just
by Andrew Hoffman | Jul 17, 2012
https://www.milesfranklin.com/sleep-of-the-just/
The most important aspect of life is comfort with one’s decisions. We are all subject to nuances, vagaries, and uncertainties, but no one can regret things outside their control. Conversely, “unknown unknowns” are beyond our ability to foresee.
In the past decade, we have witnessed the END of free financial markets, in real time. In this treacherous environment, being “right” is not enough, and luck is a scarce resource. And one shouldn’t trust anything to luck, as too much is at stake, both financially and personally. Thus, shame on ANYONE losing money in stocks, bonds, real estate, or any asset class in a KNOWN bear – or RIGGED – market.
From 2003 to 2007, I made more money in mining stocks than over an entire career of 80-hour work weeks. Thus, when the losses piled up thereafter, I convinced myself it was “house money” – and, of course, that the fundamentals of rising PM prices would eventually win out. I erroneously assumed free markets would return, and thankfully sold some stocks to buy my house in May 2007. Lest, my savings would have been lost – and with them, my SANITY. In this case luck won the day, and my wife’s compromise of moving to Denver (in return for me agreeing to buy a house) was the best decision of her life. But make no mistake, it could have easily gone the other way – and if it did, I wouldn’t be writing today.
EVERYONE has “investment regrets” over the past five years, but some worse than others – particularly those that forsook logic and intuition due to stupidity and greed. In my case, it took longer than I imagined to realize PM miners were tainted by naked shorting and capital strangulation (care of the U.S. government and Canadian investment banks), despite being correct in my assertion gold and silver prices would rise. I desperately wanted to “make it work” in this cursed sector – both investment-wise and professionally – but made the hard decision to cut my losses, like a drug addict kicking the habit. In the big picture, I wish I had done better, but KNOW I made the right decision – and consequently, sleep like a baby each night.
My personal experience relates to shifting from mining stocks to PHYSICAL bullion, but everyone has their own story. Unfortunately, most fall prey to sirens luring them to excessive, and often catastrophic, losses, in the same manner slot machines destroy gamblers. Frankly – as I write on the flight home from Las Vegas – the odds of “beating the house” appear to now be even with – or perhaps, superior to – “beating” rigged financial markets.
Before selling my remaining stocks last summer, the night entailed a repeating torture of nightmare and regret. Dreams release our repressed feelings, so make no mistake – if ye have sinned, ye will repent. Each night, my life passed before my eyes, and each morning the past eight hours’ pain was fresh on my mind. It’s hard to believe my life was so agonizing, so recently – but that was then, and this is now. Currently, I sleep with a peace not realized since childhood, as I KNOW my family is protected, and KNOW my decisions – some of them extremely difficult – were wise and true.
In all aspects of life, I wish you the strength to “choose wisely,” recognizing the coming FINANCIAL ARMAGEDDON will make such decisions trying. The light at the end of the tunnel awaits, but only for those with courage to recognize the grim reality, and fortitude to act accordingly, no matter how difficult the choices may seem. Peace of mind – and blissful “SLEEP OF THE JUST” – will reward your efforts, to SAVE YOUR LIFE.
I'm wanting to the start Roth IRA gold/silver any suggestions splits,good time any help is greatly appreciated
Craziness in this sector today:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125185161
I do not predict.
What do you make of the chart?
Reverse head and shoulders if it goes sideways a while?
What The Next Gold Confiscation Will Look Like (And How To Protect Yourself)
by Tyler Durden Aug 11, 2016 6:30 PM
http://www.zerohedge.com/news/2016-08-11/what-next-gold-confiscation-will-look-and-how-protect-yourself
Submitted by Nick Giambruno via http://www.InternationalMan.com,
On April 5, 1933, under the pretext of a national emergency, President Franklin D. Roosevelt issued Executive Order 6102, making it illegal for U.S. citizens to own gold.
The decree forced Americans to sell their gold at an artificially low “official price.” If they refused, the government could hit them with stiff penalties: a $10,000 fine (equivalent to $180,000 today) and/or up to 10 years in prison.
The government blatantly stole wealth from the American people.
Many worry the U.S. government might confiscate gold again if it becomes desperate enough. I don’t think those fears are unfounded. The U.S. government’s abysmal financial situation is only getting worse.
But would it really do a 1933-style grab again?
I don’t think it will. However, there is another growing threat to your gold.
More Likely Than Outright Confiscation
Today, only a tiny fraction of the U.S. population owns gold. Heck, I’d bet most Americans have never even seen a gold coin, much less appreciate its value.
This wasn’t the case in 1933, when the U.S. was still on a variation of the gold standard. That’s why the government probably won’t repeat the 1933 rip-off. It’s simply not worth the effort.
If the government wants to confiscate wealth, it’s far more likely to go for the easy option… steadily debasing the currency by printing money. It’s a stealthy way to confiscate from savers.
That doesn’t mean gold owners are in the clear.
I think the government will try a new scam: taxing windfall profits on gold. This would make it much easier for the government to accomplish something similar to its 1933 heist.
There’s precedence for it, too. In 1980, Congress passed the Crude Oil Windfall Profit Tax Act, which taxed up to 70% of “windfall profits” of domestic oil producers.
What the heck is a windfall profit anyway?
As far as I can tell, it’s whatever politicians decide it is. It’s completely arbitrary. There are no objective measures to define it.
In short, a windfall profit is simply a profit politicians don’t like. The whole concept is a scam—a word trick to camouflage and sanitize legalized theft.
If the price of gold explodes, I wouldn’t be surprised if Congress passes a Fair Share Gold Windfall Profit Tax Act levying a tax of 80%, 90%, or more on gold profits.
Fortunately, there are some practical steps you can take to protect yourself from this form of politically motivated expropriation.
What to Do
One way you can avoid a windfall-profits tax on gold is to renounce your U.S. citizenship. But that’s a drastic step. It’s just not realistic for most people.
Thankfully, there’s a far more practical option. You can do it from your living room. And you don’t have to turn in your passport.
The solution is to own gold stocks in a Roth IRA.
A Roth IRA is a tax-free zone. You fund it with after-tax savings, and any future capital gains or income derived from investments in your Roth IRA are not taxable. While you can never be 100% sure what the U.S. government will do, it’s far less likely a future tax increase, even a windfall-profits tax, would affect investments in a Roth IRA. A Roth IRA is the most practical way to protect yourself from the most likely form of future gold confiscation—a windfall-profits tax. It makes you a hard target. All the details are in Doug’s latest video...
Slipping for now but the primary trend is up.
The Comex Silver and Gold Paper Derivative Fraud Deepens
July 8, 2016
http://www.commoditytrademantra.com/gold-trading-news/the-comex-silver-and-gold-paper-derivative-fraud-deepens/
Putting it all together…
While it’s clear that The Banks on The Comex are desperately feeding new paper contracts to The Specs in an effort to contain/restrain the gold price, at least there has been a coincident rise in the physical collateral backing the paper contracts. In silver, where the situation is equally tenuous, The Banks are issuing new paper contracts without conjuring up any additional physical collateral. The Banks are simply adding additional leverage to an already-teetering system and, in doing so, have extended their potential delivery liability to 120% of total global mine supply. (Actually, if you take out China’s 150,000,000 ounces of annual production that’s NOT for sale, total global silver production falls to 730,000,000 ounces and the liability rises to 145%!)
In 2011, the Comex price of silver shot higher due, in large part, to physical demand. This run culminated in a $10 move during the month of April that was almost entirely driven by near-panic short covering by The Comex Banks. The CFTC-generated data at the time left zero doubt regarding this conclusion. Only The Sunday Night Massacre of May 1, 2011 and the CME’s five margin hikes in the nine days that followed saved The Banks from massive further losses and possible collapse.
Could silver be on the verge of another, similar event? Only time will tell and global physical demand will be the key. However, silver investors would be wise to consider the possibilities and act accordingly, knowing full well the extent of the fraud and scam of the current Comex Paper Derivative Pricing Scheme.
A Few Questions To Those Who Slam Gold
Submitted by Phoenix Capital Research on 05/27/2016 10:32 -0400
http://www.zerohedge.com/news/2016-05-27/few-questions-those-who-slam-gold
Alasdair Macleod: If You’ve Got Gold, You’ve Got Money; If You Haven’t Got Gold, You’ve Got a Problem - The Daily Coin May 5, 2016
https://www.sprottmoney.com/blog/alasdair-macleod-if-youve-got-gold-youve-got-money-if-you-havent-got-gold-youve-got-a-problem-the-daily-coin.html
Akin to ancient Rome, the United States has over-extended herself. She has created a climate that could easily be transformed into a war on a slight pretext. Wars, as it is well known are also a means a nation can extricate itself from debt and financial responsibility. – The U.S. Endgame, Jeremiah Johnson (nom de plume, retired U.S. Special Forces, excerpt from Zero Hedge
One would have to be blinded from either denial or ignorance not see the escalating political and military tension between the U.S. and Russia/China. While the U.S. media spins the story into a tall-tale in which BRIC nation leaders are the provocateurs, the truth is that the U.S. has transformed its illegitimate “war on terror” into war on the world in a last-gasp attempt hold onto the economic and geopolitical hegemony it has enjoyed for several decades.
When you see that men get richer by graft and pull than by work, and your laws don’t protect you against them, but protect them against you – you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed. – Francisco’s “Money Speech,” from “Atlas Shrugged”
If you reread that passage, think about how it applies to the Patriot Act, Homeland Security Act, Wall Street, the Justice Department and Hillary Clinton. It’s pretty obvious the U.S. is collapsing economically, politically and socially.
Perhaps the one last chance at saving the United States is embracing the truth – the truth as it is and not the “truth” the U.S. Government would have you believe. But economic and political truth is seeded in honest money – think about the Federal Reserve, the Comex and the political elitists in the context of this passage from “Atlas Shrugged:”
Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. – Francisco “Money Speech”
The San Francisco Fed’s “President,” John Williams was blowing his weekly smoke on Monday. He said that higher interest rates would trigger “big movements downward” in asset valuations. He didn’t exactly discover plutonium with that revelation. But with his comments, Williams inadvertently admitted that the policy makers were responsible for creating what is now the biggest asset bubble in history. This is not going to end well.
The Shadow of Truth hosted Alasdair Macleod for a discussion which ties into the ongoing financial, economic and political collapse of the United States. Alasdair offers some original insight into the manner in which the inevitable geopolitical and financial “reset” might unfold:
Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to be the tool by which men deal with one another, then men become the tools of men. Blood, whips and guns – or dollars. Take your choice – there is no other – and your time is running out. – Francisco “Money Speech”
Gold & Silver shouting: "System failure dead ahead".
"A Scramble For Gold Has Begun"
Submitted by Tyler Durden on 04/22/2016 20:04 -0400
http://www.zerohedge.com/news/2016-04-22/scramble-gold-has-begun
http://www.telegraph.co.uk/business/2016/04/17/gold-is-the-spectre-haunting-our-monetary-system1/
And 2016 is the best thing ever for Goldbugs...
The Inflation Genie is Out of the Bottle
Submitted by Phoenix Capital Research on 03/08/2016 14:52 -0500
http://www.zerohedge.com/news/2016-03-08/inflation-genie-out-bottle
Safety In Times Of Crisis: This Is The Function Gold Serves, Don't Forget It
Friday February 12, 2016 14:29
http://www.kitco.com/commentaries/2016-02-12/Safety-In-Times-Of-Crisis-This-Is-The-Function-Gold-Serves-Don-t-Forget-It.html
Did you buy gold at the end of 2015? If you did, you are feeling pretty good now aren't you. Gold surged over 19% since the year started, while the S&P 500 plunged about 9% year-to-date. The latest upswing in the gold market underscores what long-term gold investors have known all along: gold remains the safe-haven investment that the world turns to in times of crisis, panic, economic fears and market crashes.
Long-term gold investors are a patient bunch. They know that market cycles repeat: fear, greed, panics, and crashes. Markets are driven by human emotion, which become self-perpetuating cycles that occur over and over again. Through it all, gold is always there for the savvy investors. A safe haven, a store of wealth, a hard asset whose price isn't manipulated by governments or central banks.
Friday's losses? Don't give it a second thought. Chalk that up to short-term momentum traders are taking some profits off the table. Remember there are many participants in a market and everyone has different time horizons, including long-term investors and short-term traders. The short-term trading crowd just booked some profits. Can you blame them?
Where do we go from here? Looking into 2016, the economic horizon becomes murkier with every passing day. Risks of a global recession are rising. Societe Generale now estimates that risks of a synchronized global recession has jumped to 20%, up from 10% back in December.
Forecasts are changing, fears are spiking and for now this creates a fertile environment for gold to continue to rally.
Let's take a look at what's changed in a very short period of time:
1) U.S. growth forecasts continue to move lower. Wells Fargo projects even slower growth in the U.S. this year, down from an already sluggish and below-historical trend levels of 2.4% in 2015. "Our full year 2016 U.S. GDP call is now 1.8 percent, down from 1.9 percent in the previous forecast and down from 2.4 percent we believed would have unfolded when we presented our annual outlook back in December," says Sam Bullard Managing Director and Senior Economist at Wells Fargo Securities.
2) Expectations for Fed rates have been slashed. BNP Paribas revised their call for Fed rate hikes this year to zero. "The Fed has gotten locked out at a lower fed funds rate than we had expected. Slowing growth in H2 2016, the result of the fallout from market volatility and slower real income growth will likely keep the Fed locked out, even if markets calm down relatively soon. Therefore, we have no rate hikes in our central forecast for 2016 or 2017," according to BNP analysts.
3) Negative interest rates have unintended and negative consequences. The negative interest rate environment continues to dominate global central bank policy and is even being discussed at the U.S. Federal Reserve, which is a sign of severe economic malaise. Central bankers don't have a lot of options—and even if negative interest rates aren't helping, they simply don't have a lot of ammunition left in their holster.
Sweden announced a fresh interest rate cut this past week, tugging its rates even deeper into negative territory. Almost a quarter of the world's GDP stems from economies which have negative interest rates, including Sweden, Japan, the Eurozone, Denmark and Switzerland.
Negative interest rates fuels fear, in addition to actually adding more financial pressure on already struggling banks. "Perhaps the biggest worry though is that cuts to policy rates have added to the sense that the world economy is slowing sharply and that policymakers are running out of options," wrote economists at Capital Economics in a Global Economics Update research note.
In a tangible way, negative interest rates increases costs to banks, which further impedes their profit levels and could weigh on their willingness to issue fresh loans.
Bottom line: Gold is an attractive alternative to cash.
Negative interest rates hurt savers, while gold investors can benefit from price appreciation, or capital preservation as fiat money loses value.
Cash is a position. But, gold may be a better one.
By Kira Brecht, Kitco.com
CME Group Hiking Margins On Comex Gold Futures As Of Friday Close
Friday February 12, 2016 08:07
http://www.kitco.com/news/2016-02-12/CME-Group-Hiking-Margins-On-Comex-Gold-Futures-As-Of-Friday-Close.html
(Kitco News) - CME Group is raising margins on gold futures as of the end of business on Friday, the exchange operator reported.
The “initial” margin for speculators on the Comex division of the New York Mercantile Exchange will rise to $4,675 from $4,125. The “maintenance” margin for existing accounts, as well as all hedge accounts, will increase to $4,250 from $3,750. The margin will also change for smaller-sized contracts.
Margins act as collateral for holders of positions in futures market, with traders putting up only a small percentage of the total value of a contract. In a notice late Thursday, CME Group said the increases were “per the normal review of market volatility to ensure adequate collateral coverage.”
A link to the full notice for the gold margins, as well as margin changes in a number of other markets, can be seen right here.
By Allen Sykora of Kitco News; asykora@kitco.com
Is This The Biggest Crisis In History?
Submitted by Tyler Durden on 02/11/2016 22:40 -0500
http://www.zerohedge.com/news/2016-02-11/biggest-crisis-history
The previous "biggest crisis in history" was in 1893 when a serious economic depresion hit America. We just topped that in terms of the gold/oil "crisis" ratio, making us wonder: what crisis is just around the corner, and just how big will it be?
Yeah, baby!!!
Gold Surges To 4-Month Highs
Submitted by Tyler Durden on 02/08/2016 08:14 -0500
http://www.zerohedge.com/news/2016-02-08/gold-surges-4-month-highs
Now's the time... The Golden Age
Submitted by Tyler Durden on 02/04/2016 19:48 -0500
http://www.zerohedge.com/news/2016-02-04/golden-age
Some people say that gold is dead. They point to deflationary pressures and a bear market that started back in September of 2011. The bulls have been wrong for years; however, that may be about to change…
At present, there a multiple reasons to consider gold:
- Sentiment is very negative and almost everyone is underweight
- Supply & demand fundamentals are positive
- Chinese demand continues to rise
- Gold is a means to portfolio diversification
- The main risks to prices are overblown
$GOLD/$SILVER turn up as the world turns.
The Best Performing 'Currency' Of The 21st Century Is...
Submitted by Tyler Durden on 01/26/2016 20:10 -0500
http://www.zerohedge.com/news/2016-01-26/best-performing-currency-21st-century
Since the beginning of the 21st Century, as people awoke to Y2K that did not end the world, there has been one 'currency' that has outperformed all its peers in terms of preserving wealth and maintaining purchasing power...
The barbarous relic...
Something Really Snapped At The Comex
Submitted by Tyler Durden on 01/26/2016 17:12 -0500
http://www.zerohedge.com/news/2016-01-26/comex-snaps-gold-dilution-hits-record-542-oz-gold-claims-every-ounce-physical
There had been an eerie silence at the Comex in recent weeks, where after registered gold tumbled to a record 120K ounces in early December nothing much had changed, an in fact the total amount of physical deliverable aka "registered" gold, had stayed practically unchanged at 275K ounces all throughout January.
Until today, when in the latest update from the Comex vault, we learn that a whopping...
Hmmmm... What Crisis Is The Gold/Oil Ratio Predicting This Time?
Submitted by Tyler Durden on 01/17/2016 21:20 -0500
http://www.zerohedge.com/news/2016-01-17/what-crisis-goldoil-ratio-predicting-time
Silver: May the 100 Year Force Be With You
Gary Christenson | Monday, December 21st
http://silverseek.com/article/silver-may-100-year-force-be-you-15151
CONCLUSIONS:
Silver and crude oil prices have been crushed while the DOW has been levitated. But national debt increases inexorably – like a runaway freight train on full throttle.
Don’t expect debt to decrease, be repaid, or even to slow its rate of growth. Hence currency in circulation and most prices for what we need will rise. Look again at the exponential graph of debt.
Crude oil and silver prices are historically low compared to national debt, the DOW, the S&P (not shown) and most paper investments. Eventually people will realize that “paper” investments can return to their intrinsic value – much lower. Or relatively speaking, silver and crude oil will be priced much higher in devaluing currencies.
When: My crystal ball is cloudy, but silver demand is strong and prices are too low for miners to make a profit. Eventually silver prices will rise – perhaps soon. Crude oil prices? Who knows all the political manipulations that influence crude oil prices?
Stack silver, stack gold, and remember that 100 year trends are not likely to change. Expect more debt, more currency in circulation, exponential increases in prices, and more spending. War will accelerate the process.
Exclusive: "And It's Gone... It's All Gone" - The One Gold Scandal That Goes To The Very Top
Submitted by Tyler Durden on 12/24/2015 20:20 -0500
http://www.zerohedge.com/news/2015-12-24/exclusive-gold-gone-its-all-gone-one-gold-scandal-goes-very-top
Let's summarize once again: a gold-smuggling scandal that took place under the nose of the US and the international community for years, one which allowed Iran to skirt international sanctions using gold as a barter tool to keep its economy going and involved China and Russia among many other nations, and one which saw the participation of not only the economic and prime ministers of Turkey (and current president) but also countless corrupt Turkish politicians and the richest person in Iran, but also the second most powerful person in Dubai, the largest holding company in the Arab Emirates and the largest gold holding company in the Gulf state.
A scandal which resulted in untold riches for everyone involved, and has also resulted in the Dubai management team disappearing with what may well be billions in stolen funds.
And, naturally, there is a token "anonymous" Swiss bank to boot, which is likely the resting place of said stolen billions.
All of this it is real, it happened, and is not the screenplay of the next James Bond movie.
And - the punchline - it all revolves around one of the simplest products known to man: gold.
And the general consensus is that most likely somewhere around 98% or more of Americans don't own even 1 single ounce of silver while it's currently being given away at any price under let's just say 150 dollars an ounce. Right now it's around 14.40/oz.
A world-wide monetary collapse and reset is upon us right fucking now, folks. It's closer now than ever before. What would you all predict?...maybe within the next 5 years or so??? I think that's about right.
Nearly the entire world is passing America by leaps and bounds in regards to accumulating phyzz silver and gold in preparation to the end of the petro-dollar system. It's been in the works for many years and the rest is just around the corner. It's by design. They've been planning this for decades from the very beginning as you all know.
That's why all the wars and why the NWO central banks are funding wars all over the place. That's the last gasp of a dying system but it doesn't mean they're going to give up easily. Remember...they still make money by funding both sides of wars. Even though they know one system eventually peaks and fails, they still stay in power even during the collapse...it's all by design and is just another cycle that they use against the entire world. It has happened all throughout history as each dominant empire collapses. That's just how it goes, folks.
Americans don't need to fight the rest of the world to stay in power. We the American people just need to fight our own collapsing, corrupt and treasonous government system in order to hold on to our freedom and liberty and our Republic as it was meant to be.
The fucked up part is that America is being overrun by corruption. The good part is that we have history on our side. And as history showed before, it only takes 3 percent to stand up and win the day. The 3 Percenters are more than enough when the time comes. But I believe we have much more than that who will join. Once it all starts we will have 10's of millions right from the start. That's what the treasonous Gov-scum are so afraid of.
We will most likely have close to 50% or more. So don't give up and stay positive.
Keep stacking that phyzz and all other essential supplies.
Merry Christmas.
And if any of you haven't watched this one then yer missin' out on the big picture:
All Wars Are Bankers' Wars
Or if you haven't already bought this one and then bought copies for everyone you know...yer still missin' out:
The Creature From Jekyll Island or The Creature From Jekyll Island
Gold slipped 8.40/oz (0.77%) last week, now above 20-dMA; momentum indicators trending up $GC_F $GLD
Sprott Unleashed: “Everything is a Lie… I Dream of the Day Comex Paper Exchange Can’t Deliver Gold”
Mac Slavo November 22nd, 2015
http://www.shtfplan.com/headline-news/sprott-unleashed-everything-is-a-lie-i-dream-of-the-day-comex-paper-exchange-cant-deliver-gold_11222015
Everything says to me that the demand for gold is in excess of the supply. And, of course, you wonder why the price would go down, but people look at the COMEX which stays manipulated, which is so obvious to me what’s going on. We have 5 tons of physical gold. We have something like 1500 tons of claims against that 5 tons. So to be quite direct about your question, yes, I kind of wonder any day, is somebody going to snatch those 5 tons of gold, and we end up with some kind of cash settlement. But then you have to think, if we would have a cash settlement, having taken gold from 1900 down to 1100, all under the threat of a rate increase for the last 5 years, which has never happened and may not ever happen, and then all of a sudden they’re like “well, really there is no gold here, we’ll just cash settle it at $1,100.” Meanwhile, we’ve lost $800 on a false claim. And perhaps maybe people in the know know about this, they keep the price of precious metals suppressed because they are the canary in the coal mines.
PM SECTOR BIG GREEN LIGHT AND LOW RISK ENTRY SETUP...
originally published November 21st, 2015
http://www.clivemaund.com/article.php?art_id=3629
* Have the problems exposed by the financial crisis of 2008 been addressed and dealt with to any extent? – no they have not, they have been papered over by creating more debt and printing money, thus making the underlying problems much worse.
* Has debt shrunk since 2008? – no, it has exploded.
* Has the money supply contracted since 2008? – no, it has expanded massively.
* Has the derivatives pyramid been reduced in magnitude since 2008? – no it has continued to compound.
* Has the global economy grown sufficiently in the years since 2008 to more than cover the extra load imposed by the growth in the factors listed above? No, it has not, all it is has done is limp along, lamed by debt.
U.S. Inflation: Setup To Upset
Wednesday November 18, 2015 11:42
http://www.kitco.com/commentaries/2015-11-18/U-S-Inflation-Setup-To-Upset.html
Is U.S. inflation setup to upset the markets? Motivation for considering this question begins with graph to right. Plotted in that chart is the year-to-year percentage change for the median U.S. CPI. That measure is calculated monthly by the diligent elves at Federal Reserve Bank of Cleveland. Period of time for chart is past ten years.
Let us start with some casual observations. First, U.S. inflation as measured by year-to-year percentage change of the median CPI has not been negative anytime in the past decade. Second, only one major cycle of lower inflation occurred during this period. Third, and perhaps most important, the measure has now exceeded the last high which occurred at the end of 2011.
As indicated by the red line, this measure of inflation is at the highest level since the beginning of 2009.
What is the median CPI? To calculate the headline CPI for any particular month the rate of change is calculated for each of the components of the CPI such as energy, food, and housing. The headline CPI is then calculated by weighting each of those component. It is what is called a weighted average. The median CPI is that rate of change for which half of the components had a higher rate of change and half had a lower rate of change. The median is less impacted by extreme changes in the prices for any component which can in someways distort the weighted average CPI.
As shown in bottom chart, three times the year-to-year percentage change for the headline CPI, black line, has been below that for the median CPI, red line. In each of those cases it spiked lower.
Both of the first two times the headline rate for the CPI then moved sharply higher, as highlighted by blue arrows. That divergence below the median CPI by the headline CPI suggests an unstable situation which is corrected by a rise in the headline CPI.
On the right side of the graph the headline CPI has been running below the median CPI for some time and has again spiked lower on the collapse of oil prices. Picture is much like that which occurred in the first two inflation events. This situation suggests that soon the headline CPI could begin rising at a much faster rate, just as it did twice before.
How high might the rate of U.S. inflation as measured by the headline CPI go? In the first inflation event in the graph inflation rose, using rough numbers, from 1.5% to 5.5%, or by 4 percentage points. In the second inflation event, again using rough numbers, the CPI rate of change initially rose from -2% to more that +2%, or again by about 4 percentage points.
Using those simplistic numbers suggests that U.S. inflation as measured by the CPI could rise to an annual rate of about 4% as indicated by the green arrow. Such a development is likely not part of the thinking of either financial market participants or the central bank. Despite the rough nature of this approximation, U.S. inflation also has the potential to move above the previous high which would portray a picture of a rising inflation trend. This situation seems to be a setup that could potentially upset financial markets.
Ned W. Schmidt,CFA has had for decades a mission to save investors from the regular financial crises created by economists and politicians. He is publisher of The Value View Gold Report, monthly, with companion Trading Thoughts.
Ned Schmidt, CFA
www.valueviewgoldreport.com
Follow us @vvgoldreport
U.S. Mint Sells Out Of 2015 One-Tenth Ounce Gold Bullion Coins
http://www.kitco.com/news/2015-11-17/Mitsubishi-ETF-Liquidations-Could-Lead-To-Surpluses-In-PGM-Markets.html
Wednesday November 18, 2015 06:54
The U.S. Mint has sold out of 2015-dated American Eagle one-tenth ounce gold bullion coins. “There are no plans to produce any additional 2015-dated, one-tenth ounce gold bullion coins at this time,” the Mint says in its announcement Tuesday afternoon. “We still have inventories of American Eagle one ounce, one-half ounce and American Buffalo one-ounce gold bullion coins.”
By Allen Sykora of Kitco News; asykora@kitco.com
Take down by the cabal in metals is relentless... can't help myself, buying physical.
Andrew Ghattas SPOT GOLD Investment price current levels ETF
AMAZING... Chris Powell: Gold market manipulation update
By: Chris Powell, Secretary/Treasurer, GATA -- Posted Thursday, 29 October 2015
http://news.goldseek.com/GATA/1446122682.php
By Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday, October 28, 2015
Everything about the financial markets today must begin with two documents.
The first is the 2013 10-k filing with the U.S. Securities and Exchange Commission by CME Group, operator of the major futures exchanges in the United States. In August 2014 Eric Scott Hunsader, founder of the market data firm Nanex in Winnetka, Illinois, called attention to a telling paragraph in the filing. The telling paragraph discloses that the customers of CME Group include "governments and central banks."
www.gata.org/node/14411
Also in August 2014 Hunsader called attention to another filing by CME Group, a letter sent in January 2014 to the U.S. Commodity Futures Trading Commission by CME Group's managing director and chief regulatory counsel, Christopher Bowen.
http://www.gata.org/node/14385
The letter disclosed that CME Group futures exchanges offer volume trading discounts to central banks for all futures contracts, not just financial futures contracts but also futures contracts for the monetary metals and commodities, including agricultural products.
The CME Group letter to the CFTC justified secret futures market trading by central banks as a matter of providing the markets with "liquidity" that would benefit all traders.
But if governments and central banks, creators of infinite money, are secretly trading the markets, there ARE no markets anymore, just interventions, as a high school graduate told GATA's conference in Washington in 2008 and as the British economist Peter Warburton suspected in his incisive 2001 essay, "The Debasement of World Currency -- It Is Inflation, But Not as We Know It":
http://gata.org/node/8303
If governments and central banks are secretly trading the markets, no fundamental or technical analysis of markets is worth much. If governments and central banks are secretly trading the markets, the only market information worth much is information about government and central bank trading.
GATA has continued to document that central bank trading and related maneuvers since we met here in New Orleans a year ago. Let's review some of the new documentation.
-- On September 21 this year gold researcher Koos Jansen reported that the rules of the International Monetary Fund exempt imports and exports of monetary gold from reporting by national customs agencies. That is, the purchase and sale of monetary gold by governments and central banks across international borders can be withheld from customs reporting, thereby facilitating secret intervention in the gold market:
http://www.gata.org/node/15759
-- On September 16 this year gold researcher Ronan Manly disclosed that while the new daily London gold auction was established in the name of reducing the possibility of market manipulation, the auction's operator, the Inter-Continental Exchange, has reported to the United Kingdom's Financial Conduct Authority that spikes in Comex gold futures prices seem to have been undertaken to manipulate the afternoon gold auction in London:
http://www.gata.org/node/15743
-- On August 6 this year Manly disclosed a policy study by the Bank of England written in 1988 that concluded that gold is the best money because it has no counterparty risk but that buying it risks insulting the U.S. dollar and the U.S. government:
http://www.gata.org/node/15625
-- On June 9 this year Colorado securities lawyer Avery Goodman, who researches the gold market, called attention to the hugely disproportionate Comex futures contract gold deliveries being made by the investment bank JPMorganChase. The disproportion of the deliveries assigned to MorganChase, Goodman wrote, suggested strongly that the investment bank is administering the U.S. Federal Reserve's gold swapping and leasing operations and that at least for the time being the U.S. government and U.S. gold reserve are guaranteeing Comex gold futures contracts:
http://www.gata.org/node/15441
-- On May 3 this year gold researcher Manly called attention to the Internet site of the gold market consultancy started last year by the former Barclays Bank representative in the London Gold Market Fixing company, Jonathan Spall. Spall's new company is called G Cubed Metals:
http://www.gata.org/node/15310
The G. Cubed Metals Internet site says: "All connected with G Cubed Metals are well aware of the need for confidentiality in all financial markets as well as the additional sensitivity that comes from transacting in precious metals -- particularly when it involves the 'official sector' such as governments, central banks, and sovereign wealth funds."
Why do governments and central banks need such confidentiality in their gold market operations unless they mean to do something they don't want the market to know about?
-- On April 6 this year gold researcher Manly disclosed a letter written on January 30 by the chief executive of the London Bullion Market Association, Ruth Crowell, to the Bank of England's Fair and Effective Market Review Committee.
http://www.gata.org/node/15241
Crowell wrote: "The role of the central banks in the bullion market may preclude 'total' transparency, at least at public level."
While Crowell wrote that the LBMA welcomes more transparency in the London gold market, particularly through what she called "post-trade reporting," she also praised gold lending by central banks for providing "liquidity" to the market, asserting that "it is vital that the role of the liquidity provider is not diminished but in fact strengthened to make sure the markets remain fair and effective."
The Bank of England's review of the gold market, Crowell's letter said, "should prioritize liquidity, as greater liquidity results in markets which are less easily manipulated, and consequently regulators should afford market participants the tools with which to foster liquidity."
But if the foremost providers of "liquidity" in the gold market are central banks, their provision of "liquidity" is likely the primary mechanism of market manipulation, as central banks have not just access to effectively infinite financial resources but also the powerful motive to manipulate the markets in which their currencies and bonds trade.
Thus with its chief executive's letter to the Bank of England, the LBMA made the same bogus and self-serving claim that was made by futures exchange operator CME Group in support of the volume trading discounts it gives to central banks for secretly trading the U.S. futures markets CME Group operates -- the claim that secret trading by central banks deters market manipulation rather than constitutes it.
-- On March 1 this year a GATA supporter discovered a Ramparts magazine article from May 1968 written just after the collapse of the London Gold Pool. The article was written by Michael Hudson, who then was an analyst for Chase Manhattan Bank and lately has been professor of economics at the University of Missouri at Kansas City:
http://www.gata.org/node/15147
Hudson wrote:
"America's desire to see gold eliminated from the world's monetary system is understandable. It had used gold as a lever with which to exercise world power, not only to purchase foreign businesses but also to finance its overseas Cold War operations. Gold, America perceived, was power; as long as gold was the basis of the world monetary system, power followed it. Therefore, when its gold stockpile was depleted, America naturally wanted to transform the monetary system in such a way as to phase gold out, thereby preventing any other nation from using the power it provides -- especially in view of the fact that the major potential gold-bloc nations are the Soviet Union, South Africa, and France."
-- On February 28 this year gold researcher Manly located comments made by a high official of the Bank of England in a 2007 issue of the magazine Central Banking indicating that the Bank of England secretly traded gold in the 1980s to control its price and even made a profit doing so:
http://www.gata.org/node/15146
-- In January this year the chief of market operations for the Banque de France, Alexandre Gautier, replied to an e-mail inquiry from GATA's friend Fabrice Drouin Ristori, chief executive of Goldbroker.com in Malta. Gautier had told the London Bullion Market Association meeting in Rome in September 2013 that the Banque de France secretly trades gold "nearly every day" for its own account and for the accounts of other central banks:
http://www.gata.org/node/13373
Ristori asked Gautier to explain the purposes of the Banque de France's gold trading. Gautier replied that the French central bank never explains its operations in the gold market.
http://www.gata.org/node/14954
But the only purpose of such daily trading by central banks is market manipulation.
-- A week ago the executive director of Austria's central bank, Peter Mooslechner, was interviewed by Daniela Cambone of Kitco News on the sidelines of the London Bullion Market Association conference in Vienna. Mooslechner volunteered to Cambone that Asian central banks are intervening surreptitiously in the gold market:
http://www.gata.org/node/15878
Cambone had asked Mooslechner to explain the role of central bank gold reserves.
Mooslechner replied: "I think for small countries it's more or less this buffer role in the end. It's quite different, I think, for central banks in Asia, for example, where they are increasing their reserves a lot and they are much more active in using also their reserves in trading in the market and intervening into the market."
But Cambone seemed to fail to understand what she had just been told. She asked no follow-up questions about secret central bank interventions in the gold market.
GATA's friend the German financial journalist Lars Schall noticed Cambone's gross omission and understood its importance. So Schall sent his own follow-up questions to the Austrian central bank in the hope that Mooslechner would reply:
http://www.gata.org/node/15892
Schall asked Mooslechner the following questions:
-- Can you elaborate on the trading of gold by central banks and their use of gold for market intervention?
-- Exactly which central banks are doing this trading and intervention, what are its purposes, objectives, and results, and what markets are involved?
-- Are this trading and intervention public and announced or are they secret and surreptitious?
-- Are this trading and intervention undertaken directly by central banks or through intermediaries?
-- If this trading and intervention are undertaken through intermediaries, who are they?
-- Should markets and citizens generally have the right to know about this trading and intervention?
-- And how do you know about it, Herr Mooslechner?
Today Schall reported that the Austrian central bank’s press office had just replied to him as follows: “Sorry, we are not going to answer your questions. We never comment on our investment strategy and trading":
http://www.larsschall.com/2015/10/27/again-and-again-no-answers-from-cen...
But Schall had not asked about the Austrian central bank’s investment strategy and trading. He had asked about the Austrian central banker’s comment on Asian central bank trading and secret market intervention.
Even so, Mooslechner's lapse into candor about secret central bank intervention in the gold market was notable enough. Maybe Mooslechner is not available to answer Schall's questions because he is floating face-down in the Danube.
-- Of course Cambone's job at Kitco News is not to commit journalism; it's just to look pretty.
But a few days after Cambone flubbed her interview with the Austrian central banker, the star columnist of the Financial Times, Martin Wolf, did no better with his interview with former Fed Chairman Ben Bernanke over lunch at a restaurant in Chicago.
http://www.gata.org/node/15884
Amazingly, Wolf never asked Bernanke an inconvenient question. Wolf asked no questions about surreptitious interventions in the markets by the Fed, and no questions about the many documents involving market intervention that the Fed refuses to disclose.
For Wolf's job at the Financial Times is not to commit journalism either. It's just to shill for the government and ingratiate the newspaper with it.
* * *
The primary objective of these largely surreptitious interventions by central banks in the gold market has been to keep the gold price down and thereby destroy the natural inverse relationship of the gold price with interest rates and currency values -- to prevent gold from serving its traditional function as a hedge against government mismanagement of currencies and markets, to prevent people from escaping the central bank system.
By any traditional market standard it is absurd that gold should be priced below the cost of its production when, as now, real interest rates and even nominal interest rates are negative. Gold can be priced this way only because of massive intervention -- constant, daily, even hourly intervention by central banks using derivatives, high-frequency trading, and dishoarding from central bank gold reserves.
If you rig the risk-free rate of return, the price of money from the government, and rig the price of the traditional safe-haven money, gold, you rig all prices, rig the price of all capital, labor, goods, and services in the world, and thereby destroy the market economy. Even some central bankers have been calling this policy "financial repression."
In today's environment of "financial repression," any investment in gold and gold-mining companies is a bet on the restoration of a market economy -- or a bet that, eventually, yielding to market pressures, central banks will choose to devalue currencies and debt by resetting the gold price much higher and resuming their gold price suppression scheme at a more sustainable level, a level with less offtake from their gold reserves. This would be the sort of thing central banks have done before, as in 1933 and 1934, 1968, and 1971.
I have no insight into exactly what will happen or when. I think the best that advocates of free and transparent markets can hope for is to drag "financial repression" fully into the open so that even mainstream financial news organizations like the Financial Times are forced to acknowledge it. Then the world can plainly decide between totalitarianism and democracy.
Much more documentation of the rigging of the gold market by central banks is posted in the "Documentation" file at GATA's Internet site:
http://www.gata.org/taxonomy/term/21
If you think GATA's work is worth sustaining, please visit our Internet site at GATA.org and consider supporting us with a federally tax-deductible contribution. We're a nonprofit educational and civil rights organization and more than ever could use your help now.
Thanks for your kind attention.
Gold - The Urgency To Buy
Tuesday October 13, 2015 10:56
http://www.kitco.com/commentaries/2015-10-13/Gold-The-Urgency-To-Buy.html
Per recent missives, Gold -- as it did twice more this past week -- is putting in a sufficient number of "lift-offs" such that we'll stop enumerating them. The point is: Gold is banking buying bursts on each broadly visible suggestion of central banks' eventually queuing up for Quantitative Easing, our own StateSide FedHeads, (behind the bravado of a looming raise in their Funds rate), we think awkwardly "feeling" QE, albeit clearly not "acknowledging" QE ... at least not yet.
What we're "feeling" and "acknowledging" across the recent rippling of the Gold trade is a prudent urgency to buy, and to so do with gusto, (price then subtly drifting downward after each such instance), ... and then Bang: the Buy Button is hit yet again. 'Tis still another sign in determining "how we'll know when the bottom is in". And with Gold today at but a lowly 1156, you regular readers know we've already established that price must work well up through the 1200s before declaring it indeed has reached as low as 'twill go (i.e. 1072 back on 24 July).
That said, the urgency to buy of late continues to be impressive, relative to many-a-failed attempt which we've witnessed during these past four years. To be sure, October's upside thus far may not appear to be worth jubilating about: Gold's remains down 2.3% for 2015-to-date, (not that we need remind ourselves 'tis also down 40% from its All-Time High of 1923 on 06 September 2011).
$GOLD Bid/Ask 1185.30 / 1186.30
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