Trillion Dollar Silver documents USGS changing definitions from year to year in it’s silver report, and outright number fudging attempting to claim no physical shortage of silver exists. Coincidentally, the number manipulation begins precisely when the official government silver stockpile ran out.
Underneath the USGS’s own data, which supposedly proved there was no silver shortage; an absolutely massive silver debt bubble was found. [Read more...]
The totally normal gold and silver market have gone vertical after their NFP release smash as the cartel HFT algos seek to trigger every stop possible, with silver rocketing over $1 back over $29 to $29.39, and gold up $25 to $1585.
Because this is what a freely traded market looks like…. [Read more...]
Gold has lost its shine in early 2013 as speculators build up massive short positions on the futures market.
Indeed, gold short positions on the New York Comex are at levels not seen before this century. The last time speculators were betting against gold this heavily was back when the New York Times was hailing the genius of Alan Greenspan at the Federal Reserve, while Gordon Brown was preparing to sell half of Britain’s gold reserve at what proved to be the bottom of the market.
Speculative investors have certainly turned on gold. But this is not the first time gold has been written off. In this excellent video, Adrian Ash looks back to the 1970s, and a period when the gold price was cut in half, just as US citizens were allowed to own gold again for the first time in four decades. In fact, gold performed so badly that Time magazine compared gold bullion to a rusty tin can…before bouncing back spectacularly… [Read more...]
Saturday, ZH broke the story that JPMorgan’s secret Manhattan gold vault (the largest vault in the world) was directly across the street, and connected via underground tunnels to the NY Fed, which supposedly houses over 25% of the world’s central bank gold reserves.
Today via our friend Pining from TFMetals, we offer readers a rare glimpse inside the secret (until now) tunnel between the NYFed & JPM’s gold vaults. [Read more...]
Submitted by Bill Holter
When this thing finally blows, Gold and Silver will become more scarce and prices will move in multiples of what we’ve recently seen in the arms market. “Paper” money will come out of the woodwork looking for a place to hide and “real money” will be so far into hiding that you’ll see NONE on the street. Now that’s what “supply and demand” is all about in a real world!
FutureMoneyTrends has released an interview with GATA’s Chris Powell & Bill Murphy in which the duo answer common skeptics questions regarding the manipulation of the gold and silver markets by the bullion bank cartel.
Filmed at the recent Cambridge Silver Summit, Murphy and Powell explain how gold has been manipulated throughout the bull market, with Powell explaining that the fact that the Western banks are active in the gold market through leases and swaps is a matter of public record.
Powell & Murphy explain why the gold & silver mining companies have not been promoters of the gold manipulation story or even supported GATA’s work, and discuss the ultimate purpose behind the central banks’ manipulation of gold.
GATA all-star interview on gold manipulation is below: [Read more...]
Our friend Turd Ferguson of TFMetalsReport has released a gold and silver update warning that the worst may be yet to come for the current gold and silver cartel smash.
Ferguson states that the odds are at least 25% that gold and silver will still see a spike-low harvesting stops, with silver plummeting to $25, and gold towards $1500:
I’m beginning to sense that the ultimate goal of this entire event is to harvest the stops below $26. IF this happens…and currently I’d put the odds at about 25%…a quick drop to $25ish would be your final bottom. Price would quickly recover back above $26 and this deliberate beatdown would be over…And gold could very easily suffer the same fate. If The Cartel can engender enough additional spec selling, a veritable cornucopia of sell stops lay waiting for them sub-1530. And you can just imagine the reaction in the media: “GOLD IN BEAR MARKET!!” will be screamed as loudly as possible in the hopes of inspiring even more selling.
Is the worst yet to come in the gold an silver correction?
By Jim Willie, GoldenJackass.com
The typical articles over the last many years have featured a particular theme. In the last few months, the central theme in Jackass articles has been the isolation and demise of the USDollar, how it is happening, why it must happen, and its importance in the restoration of the global financial structure. But this week, a sudden urge has come to address an overwhelming list of critical gritty questions. They crop up with clients, colleagues, and friends.
More than a crisis, it is more accurately described as a collapse of a corrupt inequitable monetary system, and a desperate defense by the major Western bankers to preserve their power over nations and their governments, alongside a vile vicious violent attempt by the United States to maintain its privilege as owner of the vast USDollar counterfeit machinery, as controller of vast banking pillars of paper columns, and as commander of a vast military.
THE UNITED STATES IS PREPARING TO FALL INTO THE THIRD WORLD.
Our friend Chris Duane of Dont-Tread-On.Me has released a MUST WATCH interview with an Average Joe silver investor who has milked over 2,000 ounces of physical silver out of the Federal Reserve banking system- FOR FREE!
Duane listenens in awe as the reader details precisely how he was able to acquire a years salary worth of physical silver for free from Chase, Wells Fargo, and even Bernanke’s Fed!
Full MUST WATCH interview is below! [Read more...]
By SD Contributor SRSrocco:
Backwardation of gold and silver have been going on since 2008 — the year the financial system died.
Today, I watch as the majority of gold and silver bugs get PULLED down by the constant MOPE and misinformation by MSM. The Financial System died in 2008. The Big Banks are Zombies walking around getting increasingly weak every day. This is a huge disaster… and most in the USA have no clue.
SIGNS ARE STARTING TO SHOW
The Great Global Supply Chain System is now starting to show signs of buckling.
The manipulation of the price of Gold & Silver as well as the miners is an attempt to keep this system based on credit and debt alive a little bit longer. However, each attempt and manipulation has made the system even weaker.
I believe we are now BEYOND THE POINT OF NO RETURN.
[Read more...]
Legendary gold trader Jim Sinclair, who called the top of the last bull market in gold to the day, liquidating his entire personal gold position overnight the day gold topped, has come out and officially stated that gold will make a significant long term bottom in the next month.
Specifically, Sinclair states that gold will place a bottom between today, 2/28, and 3/27, and that Thereafter gold is released to the upside which will be a minimum of $3500.
Considering Sinclair predicted gold would trade at $1650 in 2011 (which it did) when gold was trading in the upper $200′s back in 2001, we would suggest paying attention to Sinclair’s latest major gold call.
You can bank on the fact that the Morgans and Goldmans sure are.
Sinclair’s call for a major bottom in gold is below:
Submitted by Bill Holter
Last week Eric Sprott was interviewed by Chris Martenson (editor note: and also by The Doc!). Mr. Sprott asks the question “where is the Gold coming from and where is it going to”? When looking at the supply and demand equation he is absolutely correct, the Gold HAS to be coming from somewhere. All you need to do is follow his logic: China and India are buying Gold at a pace somewhere near 2,000 tons per year while mines are producing just shy of 2,500 tons per year. Refiners who purportedly used to reclaim and re refine something like 1,500 tons per year are all of a sudden seeing a drop of 50% of their supply. This only makes sense as “cash for Gold” has been sweeping the streets clean since Gold crossed the “astronomical” level of $1,000 per ounce. How many more heirlooms and class rings can be left to melt down?
CFTC Commissioner Bart Chilton spoke Thursday before the International Roundtable on Financial Benchmarks in Washington, DC.
Chilton spoke out against last year’s LIBORGATE scandal, stating that We’ve witnessed blatant and brazen monkeying with the marks, and that When marks are manipulated, it affects us all.
While we couldn’t agree more with Mr. Chilton that benchmark manipulation affects us all, we also believe that so does manipulation of interest rates, gold, silver, the dollar, and every other commodity and currency market.
Perhaps the CFTC should focus on investigating manipulation crimes in progress, rather than the scandals that have already previously broken.
In the midst of the latest epic cartel paper gold and silver raid this week, legendary precious metals expert Eric Sprott sat down with The Doc for an exclusive, MUST LISTEN interview.
In one of his best and most shocking interviews ever, Eric discusses the latest gold and silver raid, his take on the platinum & palladium markets, the Bundesbank’s recent gold repatriation request and the correlation with massive physical gold buying in Asia, and his view on how the endgame of the Western financial/ debt crisis will play out.
Sprott stated that the Treasury Department’s 2012 GAAP budget deficit report was an astonishing $6.9 Trillion, and this has not been reported in 1 single major news outlet! He also stated that the US government may be exporting German gold from the NY Fed to China, and that despite their recent apparent success, he expects that one day soon the cartel will be brought to their knees simply by traders standing for delivery of physical metal.
Eric Sprott’s full MUST LISTEN audio interview with The Doc is below: [Read more...]
By SD Contributor Marshall Swing:
Gold & Silver COT Report 2/24/13:
Commercials added 2,026 additional long contracts to their total on the week after tremendous gains last week and covered a huge 6,815 shorts to end the week with 47.11% of all open interest, a huge decrease of 2.35% in their share since last week, and now stand as a group at 189,780,000 ounces net short, which is a decrease of over 44 million net short ounces from the previous week!!! [Read more...]
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