We recently posted regarding this morning’s water-fall raid in silver at 9:30am EST that drove silver .80 lower in minutes.
SPOT volume data indicates 9,157 contracts were dumped on the market in a span of 10 minutes- 45.8 million paper ounces of silver.
Take a moment to put this latest paper futures silver raid in perspective:
THIS IS LARGER THAN THE ENTIRE US MINT SILVER EAGLE SALES FOR 2011 AT 40 MILLION OUNCES!
Between 9:30 and 9:35 AM 4,892 contracts were dumped on the market, and between 9:35 and 9:40 another 4,265 contracts were dumped indiscriminately, for a total of 9,157 contracts in a 10 minute span ON NO MARKET MOVING NEWS!!!
Prior to the raid volume had been averaging 500-700 contracts/ 5 minute period throughout the morning.
Screen shot of the massive spike in volume:
![[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)
pure insanity
sad but true
The silver and gold spot price charts are starting to display the increasing, sharp volatility predicted in prior years that would happen leading up to the collapse. Soon we will start to see $5 price swings in the silver market and more.
“THIS IS LARGER THAN THE ENTIRE US MINT SILVER EAGLE SALES FOR 2011 AT 40 MILLION OUNCES!“
- Good thing they dumped Paper, because if they dumped Phyzz it would’ve crashed through the floor of whatever they dupmed it into.
As the Doctor says, Stack the Smack
it will recover by the end of the day…
nothing new
They probably just needed a few coins to buy new flags for everyone in the office to celebrate flag day. Quite patriotic of them I think.
Cartel loves you – that’s why is giving you all these opportunities to buy cheap
How are they making any money???
The 72-hour chart from Kitco shows interesting trading leading up to the raid. The algo trading throughout the entire morning is very apparent. We roughly retraced yesterday’s moves. See chart below. Tight algo patterns can often prove to be a sign of a raid on the horizon and the charts of gold and silver juxtaposed suggests that this time, the cartel tried to use silver to whack both metals.
Here’s gold over the same period:
I doubt if they have 9,000 ounces of phyzz let alone the 45.8 million.
The illusion of wealth.
Dimon gives us early Christmas gifts with this raid. 9,000 contracts sounds a little puny. Bull Lion, is that your dump truck for you LCS buying ventures? Here’s a good idea. Let’s drive one of those through the front doors of JPM. First you fill it with BS. Then hammer down, jam those gears and put it up to ramming speed. just a though
I also love that Google will come up with the dumbest things to do a doodle about, but today, Flag Day, nothing. Commies.
The fiat pushers are getting desperate for sure…
Manchild About To Make A “Blame-Bush” Speech From Cleveland at 1:45PM EST.
Obama Speech Seeks to Assert Stark Choice for Voters
WASHINGTON — President Obama will seek to delineate what he
will characterize as a stark choice between him and Mitt Romney in an
economic speech on Thursday in Cleveland, Obama campaign advisers say.
The
president will use an appearance at Cuyahoga Community College in the
morning to try to convince voters that he and Mr. Romney offer wildly
divergent paths on economic issues.
“This election offers the
American people a chance to break the stalemate between two
fundamentally different visions of how to grow the economy, create
middle-class jobs, and pay down the debt,” an Obama campaign adviser
said. “Governor Romney and his allies in Congress believe that if you
simply take away regulations and cut taxes by trillions of dollars, the
market will solve all our problems on its own.”
Mr. Obama’s speech
in Cleveland comes after a tough two weeks for the president that began
with dismal unemployment figures. Then, last week, Republicans pounced
on a remark that Mr. Obama made that the private sector has been “doing
fine” compared with the public sector, which has seen job loss. The
White House walked the remark back, but Republicans have nonetheless
directed a fusillade of derision at the president for seeming out of
touch.
Mr. Obama’s advisers say that it is actually Mr. Romney who
is out of touch, an argument the president will make in Cleveland on
Thursday.
“The president believes the economy grows not from the
top down, but from the middle class up, and he has an economic plan to
do that — a plan that focuses on education, energy, innovation,
infrastructure, and a tax code that creates American jobs and pays down
our debt in a way that’s balanced,” the adviser said in previewing Mr.
Obama’s speech.<—More BS—HAHAHA!
READ MORE
Aloha Everyone! Kimo here from the state of Hawai’i. Just go figure same ole same. They do not want this moving over 29 dollars an ounce. The fact of the matter is that there are millions of individuals, whom have not a clue what is about to happen. Keep stacking.
Aloha Acruzn808
The Facebook Pump and Dump gets massive coverage…on this, nothing.
Thanks for the dip.
Yes—Yes—RAID RAID RAID—Normal NORMAL NORMAL. Some think (and I don’t know where this started), I think I first saw it in TFMetals, that the banksters will eventually get rid of their toxic shorts to a point where they are left with 1:1 Long:Short silver futures.
I don’t believe this at all. The cycle of accumulating/distributing shorts will continue and probably get stronger once Romney gets in. They are not, IMO, “covering so they can reduce exposure to shorts”.
This is just a low point in the cycle. There is now a better potential for them to increase their short positions into a rising silver price, as I’ve been reporting, until the silver price accelerates into a euphoria mode again– only to get slammed again. Rinse repeat.
Meanwhile, they run it up and down $1-2 at a time to make daily pocket change on the way. That’s it, so what? It’s fun to look at the raids and count contracts but it’s just part of the paper game. Meanwhile, fundamental influences to silver prices are happening all over the world.
Look at the Spanish Bond—Accelerating above 7% soon—Why is this important? Because they can not sustain their govt interest payments at this level of debt service. This dictates another round of bail outs to the tune of maybe 500 billion more Euros.
SPANISH GOVERNMENT GENERIC BONDS – 10 YR NOTE
6.91600
+0.16200 +2.40%
Thanks for the post and please continue documenting the deliberate takedowns.
Thank You for the raid this am. Added to the stack when the LCS opened just past 9 am cst
“How are they making any money???”
The purpose of the manipulation has never been about making money (they have much easier ways to do that, such as borrowing at zero interest or outright printing fiat money). The purpose is price suppression and to create artificial volatility in order to discourage anyone from entering the market. In other words, to hide the depreciation of fiat currencies and to prevent a sudden on-rush into the only remaining save-haven assets: physical silver and physical gold.
The suppression of gold and silver prices is about saving the fiat money system, not about making money or making profits. Rising prices of gold and silver tell people that something is wrong with paper currency money system.
LMAO Right On Jake, No Big Deal on these Raids, it’s the name of the game and eventually The spot will rise but you’ll still have your shorts.
The Only Shorts I Like.
Great info as always Jake. Seems like they’re doing these raids almost daily (or every other day)?
Expect the same tomorrow
Quite right Jake. JPM increased their short position by a whopping 50% over the last 2 weeks. Rinse repeat.
It is interesting that many of you here don’t see a problem with blatant manipulation. I think the main reason is b/c you are invested only in physical bullion and you don’t really trade equities or futures and options.
The reason this is so critical is that it violates liberty and spontaneous order. If you are fine with a violation of free markets in order to enrich your own pocket (greedily I must say) then you are a supporter of injustice.
ich1baN, I coined ya because I agree with you entirely.
The obvious manipulation in silver and other commodities makes big profits for the banks and connected players, but can lead to hunger in the third world, lost retirement funds, and general mal-investment that affects the entire economy.
Jumping on the paper train to follow the bank’s lead makes a person an accomplice to the scam. The PPT’s propping up equities will eventually ruin millions that thought the stock market will always be fine, always a money maker. Til the sharks pull the plug and escape to Uruguay. Then the pain will be everywhere, and people will cry ‘how did this happen?’