Gold and Silver Manipulation 6-14-2012

June 14, 2012 By 19 Comments

Today’s Gold & Silver Raid documented by SD Reader ich1baN:

At the New York open gold and silver were manipulated down while palladium and platinum stayed virtually untouched. Gold was smashed a good 20$ or so and silver about 50-60 cents on the open. There really is no reason for this blatant arbitration as the news that came out at 8 AM should be bullish for gold and silver as it was an increase in initial jobless claims from 380k to 386k as the market expected a decrease to 375k. Also continuing jobless claims came in higher than expected at 3.278m with expectations of 3.269m.

This baffles me and everyone that watches the markets as this is blatant manipulation when you see just gold and silver move in one direction while palladium and platinum don’t move.

This is because the central bankers want to keep the precious metals they fear that people might invest in as money. The premise is that if gold and silver keep rising, the value of the dollar will lose all purchasing power and be removed as the de-facto oil reserve currency status of the world (which is the only reason it is staying afloat). The big banks and the central banks want to keep silver and gold range bound and to instill low confidence in the metals among the populace in order to keep their casino running just that much longer and to keep the fiat fractional reserve system alive. If gold and silver were allowed to freely float, you would see silver prices above 60$ currently and gold above 2000$ an ounce.


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Comments

  1. Avatar of Eddie77 says:
    June 14, 2012 at 2:32 PM

     We can see the BS going on. Just use it to your advantage. History tells us what we should be doing. Saving PMs.

  2. Avatar of Acudoc Acudoc says:
    June 14, 2012 at 2:34 PM

    These are the actions of desperate bankers.

  3. Avatar of The Bull Lion The Bull Lion says:
    June 14, 2012 at 2:35 PM

    Same ol’ same ol’

  4. Avatar of silverbullion silverbullion says:
    June 14, 2012 at 2:35 PM

  5. Avatar of NetRanger808 NetRanger808 says:
    June 14, 2012 at 2:48 PM

    Aloha, Doesn’t matter. How the CTFC & SEC don’t see the obvious, which is taking them four years to investigate is pretty astounding, for them to omit, they are clearing inept, incompetent, corrupt and have no moral standing for there fellow man or woman. We are not in the “Circle of Friends”!

  6. Avatar of Plebian Plebian says:
    June 14, 2012 at 2:59 PM

    The Doc has presented here a very strong case against the argument made by some that silver is primarily an industrial commodity that no one treats as money.  If the world really treated silver as just a commodity, the manipulators would not have touched it (just like they did not touch Platinum or Palladium today during the raid, as the Doc pointed out).

    The fact that silver is manipulated overtly and so forcefully alongside gold, is virtually proof that silver is every bit as monetary as gold is.  In fact, silver has a 4-year long price manipulation investigation in its ‘track record’, something that even the ‘king of monetary metals’ gold cannot claim.

  7. Avatar of MAMYTA MAMYTA says:
    June 14, 2012 at 2:59 PM

    just wondering when (how soon) the cartels will realize that they are getting more and more helpless.
    desperate dumps…

  8. Avatar of Steve Steve says:
    June 14, 2012 at 2:59 PM

    Nice silverbullion….

  9. Avatar of RSOPTIONS RSOPTIONS says:
    June 14, 2012 at 3:05 PM

    They need gold, silver and oil at lower levels prior to implementing QE3. We are there now and they cannot take them any lower from where they are.  QE3 (or whatever name they come up with) will come this week, probably prior to the next fed meeting this month. 

  10. Avatar of CactusAttackedUs CactusAttackedUs says:
    June 14, 2012 at 3:21 PM

    Yup when markets continually defy all logic, that’s called manipulation.  Anybody who would try to trade on technicals these days must be looney, or willfully delusional.

    “Living is easy with eyes closed.”
    -John Lennon

  11. Avatar of Not Sure Not Sure says:
    June 14, 2012 at 3:22 PM

    They keep trying to prop up a paradigm that is crumbling. Depending on the outcome of the Greek elections, next week could be very interesting.

  12. Avatar of Mammoth Mammoth says:
    June 14, 2012 at 3:46 PM

    Either way the Greek elections go, things will be interesting.  Keep some dry powder handy for next week.

  13. Avatar of SilverStacker SilverStacker says:
    June 14, 2012 at 3:52 PM

    Next week will be interesting for sure!

  14. Avatar of Not Sure Not Sure says:
    June 14, 2012 at 4:11 PM

    No, things will be very different depending on which party the Greeks put in power. If the New Democratic party is voted in, then things will go on as they have…the slow decline. No major changes. SSDD.

    However, if the Syriza party gets put into power, they will eventually push to have Greece leave the EU and there will be a LOT of bag holders. To prevent the next leg of the DEPRESSION, the Barnank will have to open the spigots and bail-out Europe (and by association, the US) with the announcement of QEwhatever. That means inflation and the concomitant rise in equities and commodities. 
    Like I said, it will be interesting next week depending on which way the election goes. 
  15. Avatar of UKPSYCHO UKPSYCHO says:
    June 14, 2012 at 4:12 PM

    rock on silver!!

  16. Avatar of AGXIIK AGXIIK says:
    June 14, 2012 at 5:20 PM

    If Greek exits it has about $60 billion in CDS that will have to be taken care of. The Greeks don’t care if  these derivatives explode  but $30 billion are in the hands of our TBTF banks.  That is getting some attention right now.  From what I can see the bailout machine is being warmed up again. 

  17. Avatar of Marchas45 Marchas45 says:
    June 14, 2012 at 5:22 PM

    Moving Along, Still The Same O’le Crap.

     Buy It While It’s Cheap.

  18. Avatar of ricin3000 ricin3000 says:
    June 14, 2012 at 10:22 PM

    Cheer up people, it was just a little Bythe fart….

  19. Avatar of ricin3000 ricin3000 says:
    June 14, 2012 at 10:23 PM

    Blythe.

    When will I ever learn to proof read.

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