After consolidating throughout the Asian and London overnight sessions as well as Monday’s COMEX session, the cartel just launched an access market water-fall decline raid in gold and silver, smashing silver under $34 to$33.90, and gold under $1760.
Massive buying instantly emerged with sub $34 silver and sub $1760 gold, and both metals have already regained the technically important levels.
If gold and silver are not able to stay above $34 and $1760, look for the metals to retrace their gap-up on Thursday’s QE3 announcement- meaning a retracement to $33 and $1730 would be likely. Should these retracements occur, this would be an excellent entry point and should be met with professional accumulation (heavy stacking…aka STACK THE SMACK!!) in our opinion.
Silver’s waterfall decline through $34:
Gold’s waterfall smash:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
People new to the precious metals market might wonder why we can say with a high degree of certainty that moves like this are most likely the result of cartel manipulation. Well, the access market (when the normal trading hours for COMEX are closed) has low volume relative to the normal COMEX trading session. The cartel likes to attack when there are not a lot of possible large buyers waiting around to greet the paper raid.
Skeptical? Think it might be a hedge fund simply taking profits? Well, ask yourself: Why would a hedge fund wait until the worst possible time to unload their position, when fewer market participants are around to absorb the trade? Such poor timing would most certainly result in less profits.
This type of bombing during less active hours is a pattern that has been around for over a decade and it’s one of the trademark methods used by the cartel to manage precious metals downward. The cartel has waited for much of the buying pressure to calm down from last week before taking this action. It’s a classic hit and run tactic. They continue to lose the war, but they pop off a few winning battles here and there.
I write the above for those new to the market — and to let them know the type of divebomb we’re seeing today is actually to be expected and “normal.” It’s no big deal.
Checked the gold chart after an hour or so’s break to have just missed the raid and both had bounced. Ah yes I thought “Raid’ Then I thought who else would know… and post about it?- Silver Doctors’ So I popped over, just minutes after the post I’d expect. Then I thought They know it’s a raid and I know it’s a raid and I know that most professional gold/silver traders would know but how would a novice? I’f you’ve traded these markets for anymore than just a couple of years you will know when a raid is occuring, when to expect them, how long they will last and often how much they will drop. Just experience, you develop a love/hate relationship, without the voltility there’s nothing to skim for a day trader. These markets are in a league if their own when it comes to manipulation and volatility.
Is it just me or does it seem like this puny raid is something akin to a dry bite from a dying rattlesnake? Yes, you get a poke in the arm but there’s no venom I like rattlesnakes fried in the skillet
Besides which, this price shift is not much more than the difference betweenthe markup of a low priced silver seller and a high priced one. LOL
Cue Doc’s ‘Stack the Smack website reboot special’
Hey AGXIIK: I had the same twisted up face when someone challenged me to have some gator tail. WOW! It was delicious! I’m looking forward to a mess of rattlers IN A SKILLET when I get an invite!
I thought the same thing… are they really running out of steam? or is it just more smoke and mirrors…
On a different note, phyzz is getting harder to get here. Normally I can walk in and just pick it up. Now, orders are shorted or don’t show up at all…
Yes, it looks like another weaselly raid after hours. Sexy deep vee they made there. And on a jewish holiday, too. Very low volume with lots of traders off today and tomorrow, so they went for it. Birds have to fly, fish have to swim, and JPM has to beat PMs down.
Whoa, they’re back at it.. let’s see how low they can tank it today.
it is amusing to watch you people , including the so called “experts” from both sides . what NONE of you understands is , that even , You are probably right about the government (JPM) manipulating the market , but what none of you seems to understand is , that They will Never let you USE and ENJOY the gold and silver . All you have to do to understand it , is to look the East European experiment in Soviet Union and all the countries in the East block from the 1950 through 1989 . You see , once the system turns into an official police state , they do not give a shit about the outside , the foreign trade and all this bullshit . They close the border , make their own currency and make gold and silver illegal for private use . There were people , after the second war , in the czech republic with hundreds of pounds of dental gold and silver , and they were pretty much giving it back to the government for what the government gave them , and it had NOTHING to do with the market price in the WEST at that time . THEY WERE GETTING ALMOST NOTHING . The government will create jobs and with 300 million people , it will become an internal economy , with low wages , bad products , no imports or very , very expensive imports , where most money goes to the military , police , public utilities and health care , where people will no be able to get out of the country . So for all of you dreamers , the only choice is to GET THE HELL OUT OF THAT SHIT HOLE , WHILE YOU STILL CAN . And , YES it will happen in America and there will be ZERO resistance , even for those that do not believe that . good luck to all of you there
Tre11jin,
I understand.
Have you considered the fact that there are always black markets? Sure it is illegal but there is a significant risk-reward component. Just because you cannot own gold in one country, does not mean it is illegal in another. So to simply dismiss the benefits of owning precious metals because the government can take them away is a spurious argument. This is due to the fact that a totalitarian government can do what ever it wants to include taking your life away. So based on your premise, why not just shoot yourself now and get it over with?
I would think you would hardly want to do that so why not own precious metals? Why are you so negative?
And please do not call me a loud mouthed American.
Thanks for the timely post Doc!
Speaking of, any way you could add the time to your posts… things move so fast these days the time would help put the post in context (of the latest news or rumor).
@SRV – move your mouse over the date just below the thread title and you will see the time it was posted.
Thanks for the heads up asimee!
Taking a broad look, it appears all commodities are down, WTI & Brent oil -$3 and -$3.50, gold, silver, grains etc……
Is it normal to have posts deleted around here? Just wondering as my post on wynter benton and ivars got nuked.
Please let me know if its “groupthink” around here or if we can have alternative and dissenting views without direct censorship being involved.
@Bay-of-Pigs – no one’s posts were nuked, but as mentioned in our weekend sticky, we have been transitioning from GoDaddy to private hosing and private servers over the past few days, and there have been several unexpected glitches- including a few user comments lost during the changeover. Our apologies, appreciate all of our users’ patience over the next day or so while the IT team finishes all of the upgrades.
@fedormmafighter and others- the gold/silver/USDX charts should be back up on the site shortly. They were removed during the changeover.
-Doc
Thanks Doc. I appreciate the reply.
A question follows.
My first investment out of college was Dell computer in early 90′s after its first split, hit the yahoo and etrade runs. My last really good invest was FRPT at 1.97 and it ran to 30.00. Not saying I always sold at the high but i came out pretty good.
Just never felt the need or cause to silver invest until about a year ago. The cause is this USA is goin nuckin futs and I decided to hedge 40%. We could go into a diatribe about the collapse coming but we all know whats happening.
Not a rookie to market investing but am to silver. Did several months of silver research and finally felt comfortable pulling the trigger when we hit the 20′s..
Of the research done prior to me buying, the short manipulation aspect was a concern. I accepted the risk reward of the naked shorting and the “raids” I am now seeing firsthand. So be it… I’m in for the long haul now.
With that being said my question to all you experienced silver guys is… When a raid is conducted have you noticed a trend that news favorable for a spike in silver is forth coming or is the raid just a concerted random occurence? Thanks in advance, DFR
@DFR44 – welcome to SD and congrats on making the wise decision to invest a portion of your portfolio into silver.
As to the timing of raids…the cartel used to raid gold and silver nearly monthly exactly on the release of the NFP the first Friday of the month. Around Feb 29th of this year (dubbed the leap day massacre), they began raiding whenever Bernanke was making a public speech or an FOMC statement was released. That has continued over the past 8 months with all but maybe one exception.
There are also daily raids…they change their MO regularly, but the cartel’s favorite times to raid the metals is typically 4am on the London open, 8:15-8:30 EST on the COMEX open, 10am EST, and then during access market thin trading as occurred today. The routine changes, but it’s typically one of these times.
Regarding news, the metals are also often raided immediately prior to what would be expected to be massively bullish events for gold and silver. For example, last November when the Swiss pegged the CHF to the Euro, gold was treated to a $50 decline exactly 5 minutes prior to the announcement. Just last week we saw the same occur with the flash smash of gold and silver less than 5 minutes prior to the announcement of QE3.
And they also raided oil, natural ga,s platinium, copper, corn, weat, ect????? They did all that to defend some silver shorts? yea right!!!!
Not everything is a raid!!!
Are you kidding me!!?? I just bought two ounces of silver about 20 minutes ago! At least it’s only 0.50$ lower because six months ago, silver was crushed by 1-2$ in one shot!
Nevada man dies with $200 in bank, $7M in gold hidden inside home
Published September 17, 2012
Associated Press
A Carson City, Nev., recluse whose body was found in his home at least a month after he died left only $200 in his bank account.
But as Walter Samaszko Jr.’s house was being cleared for sale, officials made a surprise discovery: gold bars and coins valued at $7 million.
“Nobody had any clue he was hoarding the gold,” Carson City Clerk-Recorder Alan Glover told the Las Vegas Sun, adding it was found stored in boxes in the house and garage.
The 69-year-old Samaszko was found dead in his home in late June after neighbors called authorities. He had been dead of heart problems for at least a month, according to the coroner.
He had lived in the house since the 1960s, and his mother lived with him until her death in 1992.
He left no will and had no apparent close relatives. But using a list of those who attended the mother’s funeral, Glover’s office tracked down Arlene Magdanz, a first cousin in San Rafael, Calif., the Sun reported.
A recording said her phone number had been disconnected.
“Our goal is to get the most money for the heir,” Glover said.
The gold coins had been minted as early as the 1840s in such countries as Mexico, England, Austria and South Africa, he said.
Based on just the weight of the gold alone, Glover estimates their worth at $7 million. Because some of the coins appear to be collector’s items, the value could go much higher, he said.
Neighbors told authorities they knew little about Samaszko other than he was quiet and not a problem.
Samaszko was “anti-government,” Carson City’s Nevada Appeal reported, and a few conspiracy theory books were found in the home along with several guns.
“He never went to a doctor,” Glover told the newspaper. “He was obsessed with getting diseases from shots.”
Samaszko also had stock accounts of more than $165,000 and another $12,000 in cash at the house.
Glover said he wants to start selling off the gold as soon as possible. The IRS wants a share of the total, he said, and the case is relatively simple other than the agency’s involvement.
“At least you don’t have 12 relatives fighting,” Glover told the Appeal.
@chafro: Of course not all declines are examples of raids. But today’s silver action shows the footprints of cartel accelerant added to the general downward move. That’s normal and frequent as far as patterns are concerned. Just look at the slope of the decline over time on Kitco’s charts for gold, silver and platinum, and note how platinum (click here) had a more gentle decline over many hours vs. the “running of the stops” waterfall attack the cartel set in motion for gold and especially silver. Platinum, historically, has seen very little management attention by the cartel. You need to understand that the cartel looks for opportune times to either start a move in silver or gold directly, or as is the case today, turn modest sideways consolidation trending towards slight downward bias into waterfall declines by coming in and giving the metals a push once the trend shows a slight change downward. This is how they execute price management. It’s visible in the charts AND in the context of all other outside market trading we saw today for other assets.
Now, of course, there are times when it’s not possible to identify clear-cut examples of this particular tactic. But there’s enough lag time between the movements in most other assets and the trading pattern of gold and silver today to be reasonably certain the cartel was giving a “helpful” push to the downside today. However, today’s example is certainly not as crystal clear as other attacks. But based on my 25+ years of experience in following the precious metals market, I’d have to say it looks like the cartel was active today.
trejin11
Are you a shill or just a certified moron.
just many years of experience in that system and trust me , the system worked for the Elite very well for over 40 years , until they have decided here , it was proven enough there , so lets bring it over here . Mark my words , You will not enjoy the market price of gold and silver , it will be worth , what they tell you it is and illegal to use , You can own it , but inside the new system , it will be worthless . Ask the almost 300 million russians , how easy it was to get out of the country .
And as to you reaction to my post , typical American , big , loud mouth , but no intelligent action . good luck dreamer.
Just a quick note. AGXIIK was not Walter Samazko. I am still alive and well and wish I could have met Walter. He sounds like my type of person. I hope the government SOBs don’t rip off his estate. Dying without a will gives the tax Nazis a field day
RIP Walter.
@tre11jin
SilverDoctors has hosted discussions about how the US government may outlaw PM ownership or tax it into oblivion. You appear to be intelligent and articulate enough to know how to bring the subject up without making assumptions as to what everyone here understands — assumptions about what has and has not been discussed here in the past. Drop the snarky tone. It’s not becoming of you.
You’re right to point out the Soviet Bloc experience. But there are some differences. For example, the Soviet Bloc was consolidated after massive social upheaval following the Great Depression and World War II, which greatly diminished the power and resources of the average Eastern European, making it easier to consolidate a dictatorial system. In the US, we’ve seen a multi-decade long process of gutting the middle class and propagandizing people to the point of turning much of the nation into a zombified state. However, as per standard psychology well known by the intelligence community, there usually remains about a third of any given population that is almost impervious to any significant brainwashing under “normal” methods (I’m not talking about torture chamber conversions, but rather, day to day media exposure, the education system and peer pressure). Even hypnosis fails to work on the same 30 some-odd percent of the population. To prove my point, there are at least 20 million Ron Paul supporters and while not every person down to the man in that movement are entirely aware of what’s going on, compare those numbers to resistance pockets and periods of any resistance under Soviet rule you care to examine.
I contend there’s a deeper reservoir of latent resistance in the US. It’s mostly dormant at the moment, because an insufficient number of people have yet to experience economic hardship and the destruction of the so-called “American Dream” for a long enough period of time to engender rapid social mobilization. But that’s coming, and the powers that be damn well know it and are building police state infrastructure to deal with it.
In Russia and Eastern European nations (especially Russia) there have been long periods of history where the masses lived under quasi-feudalism, where the average folk just tended to their own business as much as possible outside the iron hand of the Czars, and that ingrained culture continued on into the USSR, with people more traditionally just keeping their heads down in the face of Stalinisim. The history of America isn’t directly comparable. Most people have had it “so good” for “so long” that they haven’t experienced a long enough period of time to get political. Unlike the historical period leading up to the Soviet Union, Americans have been living in a world of privilege while holding the view of entitlement. A great many Americans are going to get angry when things devolve further. The culture and US history has set-up latent resistance to totalitarianism far more so than what existed as precursors to rebellion against totalitarianism in the Soviet Union.
The powers that be also demonstrate on a regular basis outright fear and uncertainty about the degree to which they control the masses. As an example, consider what happened when Google, FaceBook and other sites pushed back against SOPA and internet censorship late last year. The powers that be backed off because people power expressed itself. Sure, the tools of censorship and clandestine programs moving the US in the direction of totalitarianism continue, and the powers that be usually choose to back down and fake surrender on any given issue when caught, only to quietly continue on doing whatever it was that elicited initial protest. But the SOPA example is one of many. Americans have considerable checks and balances remaining within this badly damaged system, along with a shared belief system and culture and a heck of a lot of guns that make a direct comparison to the Soviet Bloc an imperfect analogy.
In any event, there are many Americans that are leaving the country, and surprisingly, some are simply middle class folk. But most people don’t have the means to pick-up and leave, and family and other considerations enter into the picture as well. Others choose to stay because they feel they can keep their heads sufficiently distant from the gears of the machine while possibly helping to prevent totalitarianism taking hold.
When it comes to strategies for diversification of PM ownership in the face of all these risk factors, that ground has been amply covered on Silver Doctors. But I’m sure many here would welcome discussing the subject anew as that sure beats reading threads where people make assumptions about the SD readership. Most SD readers are not under any illusion about how hard the coming period is going to be.
I just thought of another example of the powers that be backing down. Last Thanksgiving Alex Jones made a big push to raise awareness about the TSA at airports and body scanners. Rather than deal head-on with that rising tide of resistance and the fact that many folks that only fly once per year over the holidays would be seeing tyranny before the powers that be were interested in having tyranny on full display, the TSA backed off. Air travel was surprisingly liberal over the holiday. My mother, for example, went through Los Angeles International Airport with the same security methods up and running before the TSA even existed — two times, the first being the day before Thanksgiving and the return flight the following Sunday. The same sort of security roll-back was reported all over the country by countless people at major airports.
Why was security rolled-back? Perhaps there was fear that imposing the new security rituals given high traffic volume would create delays and anger the public to the point of creating new resistance to security? Perhaps it was partly due to fear that many watchful citizens with cameras were going to be moving through the system on account of Alex Jones. Who knows for certain… But it likely was related to either of those considerations, or both. The bottom-line: the powers that be backed down.
I’ve flown on Israel’s national airline, EL AL. You want to see real security? Fly EL AL. They use trained psychological warfare experts from the military to interview each and every passenger, along with the standard metal detector regimen. They didn’t need to irradiate their customers to have a near perfect safety record. There’s plenty of reason to believe what the TSA is doing isn’t really working, and that it has more to do with conditioning the masses to accept Big Brother.
Enough. Back to discussion of precious metals.
Some thoughtful comments here, and a reasonable call for civility. I like this site because it has a mostly homogenous audience.
I’m relatively new to the silver scene, but quickly got up to speed and have a healthy treasure chest. I’m learning that the market is basically a manipulated fraud. Some movements are purely a result of supply and demand, but for the most part the trading ranges and the smackdowns are engineered. I know that owning silver is a long term play and am able to watch the manipulation without getting too bummed out.
I don’t know how the many long term silver stackers have kept their sanity, knowing that the market is so contrived. It is clear our day is in the future, and in the meantime PM is a lovely hedge against the unknown travails of the dollar. My coins are so pretty and numerous that it gives me an emotional lift just contemplating them.
Yet another raid that will bounce back eventually. They can only do this so many times before running out of ammo.
Very true, Mary. Fact is, each and every raid that they do now only results in ever more PMs shifting from West to East. As soon as they bash down the price, VERY wealthy Asians and governments swoop in and buy all they can on the cheap. Whatever it is that the elite are trying to do via these raids is back-firing on them… Big-Time! Each raid produces less price drop and for a shorter time period than the one before it. Even the HUGE raid back in 2/29/12 failed miserably to hold down the price of gold and silver, as intended. It was quite successful at moving many tons of gold and silver to the Far East, however. These bullion banksters are even dumber than I thought. They keep hitting their thumbs with hammers, hoping that the next one won’t hurt, as did all the ones that came before that. Idiots!
“Most SD readers are not under any illusion about how hard the coming period is going to be.”
Roger that. AG! In fact, we are a cadre of people who DO know exactly how difficult the near future is likely to be. Many of us have tried our damnedest to raise the awareness of our family and friends about all this. In most cases, we have met with limited success. We may not be able to help our friends very much, even though we would like nothing better, but family comes first and it is they who will absorb much of our preps.
I think often of my grand parents. They knew WWI, WWII, and The Great Depression. They were incredibly hard working people who were strong in their faith and love of family but dirt poor in assets. Many of them were farmers, so did not starve during those dark times. They knew how to make things, make do, and how to do without. Best of all, they were very creative and found ways to make a little very scarce money on the side. My Grandpa became a bootlegger because farming could not pay the bills. In that, he broke the law of those who were very comfortable and who caused The Great Depression, so f*** them! Way to go, Gramps! I would be absolutely THRILLED to be 1/2 the man he was. Even that would be better than 90% of the guys we have today.
it is entirely possible that the raids are being conducted by JPM on behalf of a client.
That client could most likely be the China Govt, who are buying physical gold hand over fist. So, they instruct JPM to raid the Paper market (Comex), while they go into the London spot market (the “physical” market) to buy physical and demand immediate delivery in Asia. By doing this China could continue on a big scale to add to gold reserves without pushing the price up.
If this was the case, it might explain why JPM does not fear a manipulation investigation, and why the CFTC has not been able to nail them. Blythe Masters has recently gone on record saying JPM conducts and holds these huge positions on behalf of legitimate PM hedgers who hold PM commodity accounts with them. The China Govt would not do this openly, so would likely form an array of front companies from various jurisdictions that protect identity (eg Bahamas, Lichtenstein). Any client of JPM that held physical gold, would be perfectly entitled to hedge against a price drop by going short without being legally guilty of price manipulation (which is a commercial crime in the USA where the Comex is based).
JPM could piggy back on a China price raid with advance knowlege, but is not making money at all in the amounts we think they are. They would be guilty of front running a China order, and could lose this cash cow client’s fees if they lost the account, and get in real trouble with the US Regulators.