Ooops.
We’re re-posting this Jeffrey Christian interview from Monday purely for the satisfaction of our readers. The Doc can’t stop grinning right now just reading the headline!
There’s nothing quite as satisfying as watching a 3 day old interview in which CPM Group’s Jeffrey Christian predicted no QE and an imminent massive gold and silver crash on the day The Fed announced QE ∞, and gold and silver are set to challenge $1800 and $35 overnight.
When The Vampire Squid and the Morgue both advised their muppets (clients) over the weekend that QE3 is a done deal for this week many rightly took it as a contrarian sign that The Bernank will majorly disappoint Thursday.
We now have contrasting contrarian indicators however, as the CPM Group’s Jeffrey Christian was back on BNN today, claiming that there is zero chance the Fed will announce further ‘real’ easing until December at the earliest, that he expects gold to imminently crash to $1550.
Christian states he is advising clients to buy puts on gold and gold equities and SLV ahead of Thursday’s Fed announcement and states that silver has rallied 20% over the past month and a half ‘purely on speculative fluff‘.
So the question is who is the greater Contrarian indicator…the JP Morgan/ Goldman Sachs combination, or Jeffrey Charlatan…er…Christian?
Watch Christian’s full interview at BNN after the jump:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
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they must get JPM out of their 27,000 contract short position. this next sell off will be the last one.
Really?
QE III is not the overarching propulsive force behind the rise in gold and silver prices. There is about $4 trillion in dry powder ready to be unleashed, held in the US between banks, corporations and individuals If any one of these groups holding a trillion or two in cash decides to buy commodities, including precious metals, QE III will be moot and a sideshow of Fed attempts to either get the president reelected (or unelected) or join in the worldwide currency printing fiesta dictated by his foreign overlords. A circus side show; a penny ante carney barker trying to remain relevant.
. The snap back of commodity inflation will be the clarion call to arms for precious metal buyers who see this is the only way to protect their asset base from inflation and hold their buying power of cash in a world of ZIRP.
I am more concerned with the 40,000 plus striking miners in SA doing their best to shut down the mining industry. Factor in the unions and miners attempts to double their pay to $1,500 a month and the cost to mine will ramp upwards substantially, making a mine either uneconomical to reopen or a very thin profit margin that damages the price and intrinsic value of a mine. China will find many bargains as they buy up troubled mining concerns in Africa proper.
On another tack, the equity markets have nothing holding them up. They are sustained by HFT algos with a 50% plus drop in volume in August. Watch the announcements of third quarter earnings. They will not be pretty.
Apparently the notion that you should buy on the rumor and sell on the news could mean equities will drop in September. September and October are two months that are particularly evil when it comes to banking and stock market collapses.
If silver takes a $4 hit who would not be happy to have one more window to buy the ‘devil’s metal’ on the cheap. Sign me up. We think in years and decades when it comes to precious metals.
I really think the Fed will save their QE3 bullet for after the stock market tanks. Why fire it now when the Dow is over 13,000, the unemployment rate is dropping, the bond market is holding up, and the euro is at 125.
What they will do is at some point move to negative interest rates on reserves held by member banks. We all know the Fed’s only workable option is to inflate their way out of this. Negative interest rates will do that.
The problem with announcing QE3 is that it won’t work for the simple reason they are in effect already doing perpetual QE right now. They just don’t publicize it.
The dollar is in no immediate trouble. In fact the dollar will benefit from the problems in Europe.
Talk about a disinformation specialist. Thy name is Jeff Christian.
________________________________________________________________
It’s Sept 13 now and Ben brought out the big bazooka. Means things must be worse than we thought. Hard to understand this move with banks sitting on $2T in reserves liquidity is not a problem. Ben will get away with this for a while, but when the stock market tanks he’s got nothing left. If he fires a QE-4 bullet the dollar will absolutely tank and the meltdown will be instant across the markets.
I bet you this guy does not believe the fecal matter that’s coming out of his mouth. I’m sure he has a ton stashed hidden away somewhere for when this whole charade ends. Even if it actually does crash, good, it’s a win win for us because we can buy more subsidized silver to stack.
Wasn’t it Jim Rickards who was saying that some kind of announcement of QE will come out this week, but the actual implementation will be done after the election? That’s pretty much in line with what this guy is saying. And, quite frankly, I, along with thousands of buyers in the east, wouldn’t mind stacking more at lower prices. Speculative fluff doesn’t really concern me, but lower prices always perk my interest
It could be true but just realize the stock market will crash right along with gold and silver!! They better have the plunge protection team working overtime and flush with cash.
I thought the markets went up because Japan and China just did a stimulus. So go figure.
But in the end, relax, it’s an election year. We all know the October surprise is just around the corner.
I doubt there will be an announcement of a big new fiat dump this week, and I also doubt that there will be any lasting crash in either of the metals. Silver doesn’t need QE to rise. The fundamentals are all good. Gold might droop more than silver, its lack of industrial demand weakens it a bit. This is balanced out by its wider market and well-heeled clientele. Overall, no QE is fine with me. Who wants to see $6 gas? We will chug on upward, regardless. They can spike it down, but I doubt it will discourage our resolute stackers.
Jeffrey Charlatan is the correct name. He would be a perfect match for Fox. He could make millions working for Murdock.
You are a fool! You take a shot at Fox when there is no earthly reason to combine Fox with this ranting idiot Jeffrey C.
Take your left-wing extremiest crap to Huffington Post where it is better suited. Here, we are interested in silver and its relationship to our interests. Let me put it another way, mxrph: Fuck off!
Wow, you call @Mxrph an EXTREMIST yet you are the one who resorts to cursing and name calling……GET A LIFE!!! Talk about someone that is pathetic and too much into politics…GEEZ….Hope you and Mitt have a great life hahaha LOSER!
silverrrrr… fox news is a joke. Along with the communist network CNN and CNBC. You think there is any difference? wake up dude.
SILVERKING16……….Pot calling the kettle black. Too funny.
GEE, why listen to any of them? Bill Murphy’s contact is the one who called it right!
Called what right?
Yeah, called what right? :O?
You are correct. Murphy’s source told us Silver would go higher in August. It did.
He called the August breakout in PMs.
This has been a concern the real stackers have been considering… we will keep an eye on the volume of puts if it actually is true. I myself am nervous holding any paper in derivatives this week. The bernank will never cease to kill the metal any way he can.
First post (long time reader)
Gee Jeff… guess I’ll sell now. NOT.
Skirts are Up–Pants are Down—dit–dit–dit–Just Read Off of the Teleprompter Jeffrey!! “There are a few problems in Platinum/Palladium production”…yeah, a whole lot of dark faces that don’t like being shot at! “Silver rose of expectations”…yeah of a Global Meltdown. Join JPM and buy a Put for grandma today! or…keep stacking. “And that’s the way the cookie crumbles” back to you Chet..dit..dit.dit…dit
The fundamental reasons for silver to increase rapidly in value are many and can no longer be dealt with in the usual manner by those who enjoyed control of the metal. Their hold on silver is diminishing as we speak. Too many forces working in our favor and against them. My personal take is that gold will level somewhat while silver climbs. The ratio will work it’s way back to around 15 to 1 with the two metals working towards that direction. Something like gold $2100…..silver $140 would be my guess. Don’t quote me though unless it happens just like that……..(snicker).
“Don’t quote me though unless it happens just like that……..(snicker).”
Lol. Yep, just remember when I get it right but not when I don’t. ;-)
I wouldn’t bother trying to read too much into what little Jeffery has to say. He’s actually not a true contrarian indicator because he’s ALWAYS negative on gold and silver — or, at least 95% of the time. Stick a mic in front of him and the dog will almost always bark the same bark. And it’s not like this interview has the same contrarian punch as, say, the American hugging his house on the June 2005 cover of Time Magazine. The latter was a true, in one’s face, contrarian indicator by classical forecasting standards.
The bottom-line: There isn’t enough buying interest to support the bond market debt issuance. Thus, the Fed has no choice but to buy, and regardless of what they call that buying, it’s QE. In 2010 B.S. Ben told the world at Jackson Hole that more easing was on the way, and the formal program wasn’t launched until after the 2010 elections. This time around, it’s possible that history will repeat, with additional, more forceful language coming out of the next Fed meeting but with no formal launch on account of not wanting to appear political during an election year. Regardless, the markets overall have correctly built-in the expectation that QE can not be avoided and even a short delay shouldn’t put pressure on gold to the extent we’d risk $1,550. Little Jeffery is just a dog chasing his tail.
QE3 is not the action to end all things. The fundamentals concerning silver is why silver will rise. QE3 will be a mute subject in the months and years to come.
The Bernank only has psychology left.
Here’s what I hinted at doing……………….but didn’t do.
Here’s what I hinted at not doing………… but did anyway.
Here’s what I definitely did…………………..but didn’t tell anyone.
Here’s what I did not do……………………..but hinted that I might have done it.
That’s the only trick he has and he’s been (er Ben) using it every time…
Ben is nothing more than a puppet. A salesman for the cartel selling snake oil. IMO Ben is a dumb as a box of nails.
I don’t know what Jeff has been smoking people, but QE3 or No QE3 isn’t going
to stop Gold and Silver from going up. If Jeff is one of the 5 smartest people in
the world, I wonder who the other four would be?
He is insane and has absolutely no idea what he is talking about.
Ranger from Texas
No, he’s not insane. What he is is a tool of the banking elite. Actually, more like one of those sock puppets… and someone has a hand up his butt clear to his throat. Move the hand and Jeffery speaks! Yes, he’ll say ANYTHING we want him to say, no matter how idiotic or outlandish it makes him look. He doesn’t care. He just wants his tiny little slice of the pie and he’s happy. So pay the fool until we no longer have any need for a trained monkey. We can then pitch him over the side and watch as he flails his arms and legs all the way to the ground… SPLAT! Now, wasn’t that fun? Hey, let’s do it again! After all, useful idiots really are a dime a dozen. :-D
He talks like he is a PAID basher. Someone who trys to scare people out of their gold and silver.
There will be no QE3 this week.
Get ready to buy your Phyzz on the price crash
It might be your last chance to buy
There is a lot of money on the side waiting for a pull back to go into the market. If it happens then silver may move up faster than if it didn’t, especially if enough buyers have smartened up enough to buy physical. I can sense that is won’t be much longer when there will be few dealers willing to part with their precious silver at any price.
I wonder how much the morgue is paying this dickhead to bullshit.
“Christian states he is advising clients to buy puts on gold and gold equities and SLV ahead of Thursday’s Fed announcement and states that silver has rallied 20% over the past month and a half ‘purely on speculative fluff‘.”
Clients? This idiot has clients? WTF would invest ANY money in anything with which this boob is involved? Not me. Nope, not a single zinc penny. He isn’t even worth risking that.
I would imagine that good money could be made via doing the opposite of what he recommends, though.
“China will find many bargains as they buy up troubled mining concerns in Africa proper.”
Indeed so. And if no Africans want to work the mine, I am sure that they can bribe any officials necessary to bring in all the Chinese miners they need to loot and pillage the place.
Also…
Not nice, silverrrrr. Civilized people can disagree with each other based on the facts of a situation without becoming disagreeable. I do not share mexrph’s opinion but then there is no requirement for that. As my Gram always said, “Weak ideas are often wrapped in strong language”. :-(
Doc,you run the best site on the web,where would we be without you,thankyou.
Ditto that 44 mag.
I could care less if they ever call QE3 or not. I will keep stacking until they lower the US debt or a crash occurs. I think that if Obama and Bernanke do want to keep their job they will announce QE3 this week or suffer a terrible Stock market temper tantrum in October. just my 2 cents.
Could go either way but any dip is going to be short lived so be ready to jump on it. Meanwhile I will keep buying whenever I have extra cash.
I’LL TAKE IT!!!
JPMorgue will slam the price a bit too, hopefully…
But I bet this $33-34 range stays for a few days to get the sellers motivated.
Love the drama of it all….in the middle of the storm keep stacking and holding. Our day will come…the fundamentals are there, so sit back and watch it all roll out…
On the QE Call I have been right every time.
I say again, NO QE3. My sources tell me the announcement will be another TWIST type of injection.
This entails an opened ended combined purchase of USTs and Agencies.
I am sitting on $50K for silver, and will be paying $29 per ounce by Friday.
Thank you Ben for the cheap silver smackdown in price due this week
You will be kicking yourself buying it at $34
AGAIN I say it will not be QE. I can 100% guarantee you it will be a watered down twist type version of QE and will have a new name.
Maybe Operation Ben the D*ckhead?
Well, any price until $50/oz will seem like a miracle next year. just as a price of $2/oz seems like a miracle to us now.
First priority – get the silver
second priority – get a good price.
my rule – do not sacrifice accumulation by holding out for a better price.
kinda like food. it’ll be cheap or expensive per meal, but I keep eating.
keep on stack’n
EXACTLY…..When silver is at $150/oz or higher, is it really going to matter whether you paid $31 or $33 ?? NOPE….KEEP ON STACKIN!!!!
SK16
THIS IS DESPERATION TO THE NTH DEGREE.
THIS CREEP PUTS NEW MEANING TO THE WORD SHILL.
YEA THERE MAY BE A CORRECTION-SLAMDOWN :bIG DEAL
tHE TREND IS UP REGARDLESS OF WHAT ASSHOLE SHILLS LIKE THIS SPEW OUT INTO THE MAINSTREAM.
NO QE3(OVERT OR COVERT) HMMMMMM NEVER MIND.
Didnt David Morgan mention someone in media who took a “fair old chunk” outa the silver market recently? You gotta love jeff he’s talking the hell out of Ag so we can stack longer.
The biggest modern ‘speculative fluff’ has come from fiat debt paper ‘money’, the biggest of which has been the US Dollar (and all Dollar-denominated assets)!
Think about this, someone can create paper ‘money’ out of nothing in whatever amounts they choose. The majority of people work hard and labor for payment in this paper ‘money’. Thus, the majority of people are working for nothing! Imagine if people came to their senses and demanded to be paid in something of tangible physical value, such as silver or gold, which no one can create from thin air (except all of that paper gold and paper silver). The world would be a different place.
Listening to this guy leaves me with the notion that he is trying to get some cheaper gold/silver. Do they actually pay this guy? He is dumb as last years rinse cycle! QE3 is a mute subject just like QE1 or QE2. QE3 will only have a short term positive affect on commodity prices. IT IS THE FUNDAMENTALS that will drive the price of gold/silver for months and years to come. QE3 will be just another steroid of false euphoria.
SPECULATIVE FLUFF???
Are you kidding me? This moron must think a PHD is short for Post Hole Digger! Is this guy a honest analyst? What investment is there that is not a speculative assertion on the investor’s part? Where do they find these people? He did not say a thing about why investing in silver or gold is good/bad. Just making excuses on why the price has risen. Listen to people like Jeff Christian will put you in the poor house.
I remember creepy Jeff Christian giving his testimony to the CFTC,
, in which he was confident and relaxed, explaining things to the panel, but in this interview he is nervous, stumbling several times in pronouncing words and even looks scared, poor little guy
His rationale in this interview doesn’t add up anyway, in which he says there will be no QE3, but even if there was, there will be little benefit because QE3 is priced in! He says gold, silver, oil will crash, but that Platinum and Palladium will rise based on a recovering global economy and mining troubles in S. Africa. He obviously hasn’t seen the doc’s review of the Baltic Dry Index, yesterday, and strange he doesn’t seem to realise that mining troubles in SA will affect Au and Ag first.
My diagnosis: poor anal sphincter control due to fear of a Comex default.
Chief You bring up a subject that I think needs some further examination. Jeff is clearly operating in the same manner as the hundreds of other supposed experts who talk their talk about a particular subject. I’ve discovered throughmy business, a highly technical one, that it is very difficult to completely master more than one subject of discipline. It takes at least 10 years to become a master at something. It is another thing to try to master a subject when you have a fear factor in place. I think that many of the people we read about who purport themselves to be masters are also subject to this fear factor.
After reviewing hundreds of video/audio presentations it’s clear that many reporters, journalists, bloggers and pundits are either massively overconfident of their subject when it is impossible to have a clear knowledge of their subject in this very fluid and tumultuous time we are in, or they are nervous and hesitant. In either case it’s my contention that they have a real fear embodied in their presentation. They really don’t know if they are correct and in this marketplace where a misstep can cost someone millions if not billions, that fear is justified. Ask Celente, Dimon or Ann Barnhardt if they sleep well at night knowing what they know and having been seriously snookered by others. The anger , angst and fear present in their posts shows their nature and I think that nature is their fear of the unknown.
It’s also my belief after reading thousands of posts and blogs, that our site, Silver Doctors, is one of the few where people can express themselves and present their concerns, solutions and emotions freely, partly because the sites anonymity and partly because we don’t accept BS and MOPE from our own membership much less those who tout themselves as experts. We self correct if the knowledge shared is something ranging from a small mistake to completely off base.
Sinclair, Sprott, Weir, Willie and others must also be feeling some fear and concern since their entire existence balances on being right in their opinion or in a marketplace at the right time. If they miss the mark they can be devastated and lose their entire fortune and credibility. That is a tightrope you don’t want to walk. It takes decades to built a good rep or fortune.
Jeff’s nervousness may be as a result of things he knows to be true while the words he must speak to retain his minor position in his little world are not. I don’t gainsay him this opinion because he is irrelevant to me. But I do know that even the blind pig finds an acorn now and then so a quick listen is sometimes with the minute spent.
As a last thought, it is good this site has a continuity of thought and action which allows us to gain some understanding of the events and forces that surround us. It does not surprise me at all that most pundits would not have heard of the BDI decline and its cause and effect or what will happen to PM prices due to the spreading mine strikes and violence. There is not enough time in the day to gather this information if one’s world is circumscribed by MOPE and misinformation passed on as truth. Your note on this is timely and very accurate. Thank you for making those observations.
AGXIIK, thanks – it’s great to have SD as a guide through all the BS out there.
@AGXIIK: Your post is a wonderful example of the sort of humility behind a great many truly successful investors and analysts. In order to continue to master understanding of the markets, I’ve found it most useful to constantly remind myself just how much I don’t know, for that is the quickest way towards further profound learning. Finance, as a profession, certainly has more than its fair share of egos and most people in this industry are not worth a bag of sh…
So if the U.S. doesn’t announce QE3, and the Euro clustercuss will move ahead with unlimited “sterilized” bond purchases, wouldn’t that be “bullish” (I use the term loosely, hence the quotes) for the $USD / US bonds? That could possibly buy the Bernak some extra time maybe? The $USD could be seen by some as a comparative safe haven—though I certainly don’t see it as such. Would that be a reason to delay QE3?
Even if Ben Bernanke doesn’t launch QE3 right now, He will eventually will soon. Gold and silver’s price already went up recently and if He launch QE3 right now, high inflation will be noticed very easily and more people will start buying physical gold and silver to get rid of their dollars. I think that the Bernanke will wait until the Euro suffers more so that more people will start buying US dollars and then QE3 may be launched. The only way to find out if QE3 will be coming or not is to wait until Thursday.
Even if Ben Bernanke doesn’t launch QE3 right now, He will eventually will soon. Gold and silver’s price already went up recently and if He launch QE3 right now, high inflation will be noticed very easily and more people will start buying physical gold and silver to get rid of their dollars. I think that the Bernanke will wait until the Euro suffers more so that more people will start buying US dollars and then QE3 may be launched. The only way to find out if QE3 will be coming or not is to wait.
There’s a bull market in speculative fluff and the largest supply is between Christian’s ears.
Mr Christian says that naked short selling a billion ounces of paper Ag into the marked in 15 minutes is not a form of manipulation! If it is the phyzz stackers he is trying to convince he must be working for the cartel or he is really really dim.
Nothing like rubbing it in! Email this to him on top of it lmao
Ha ha , choose which commentator you listen to carefully.
Can’t believe this clown got air time, and I saw it just after it came out.
The actions have just vindicated how saw everything.
Ordering agian soon Doc!
Well little Jeffery, proved he is as clueless as my shih tsu.
+1 vote for hall of shame!
Jeff your analysis is as worthless as a stale fart in a space suit.
I had a bad dream the other night. In the dream Ben was stepping down and introducing his successor Jamie Dimon.
Jamie announced a new initiative (with the power of an unlimited printing press) to short silver, gold and oil back to “reasonable levels” He then stated …”the fed is the market and digital dollars the only currency we’re going to recognize in the new world market…” It made me wonder if these new world alchemists actually could turn gold into digits…