Jim Sinclair: Expect 100% Cash Margins in Gold & Silver As the Gold Banks Attempt to Execute the COMEX

May 24, 2013 By Leave a Comment

Jim SinclairIn his latest alert to subscribers, legendary gold trader Jim Sinclair asks rhetorically where all of JPM’s gold has gone, and whether the gold banks are in the process of executing the COMEX.  Sinclair states that COMEX is experiencing a death rattle, and that they will soon per-emptively raise margins in gold and silver to 100% cash to prevent a full default.

Where has all the gold gone?
Is this where all the gold in Morgan’s vault went?
Are the Gold Banks executing the Comex exchange?
This is the Death Rattle of the Comex exchange.
Gold and Silver exchanges are going to be forced to become cash spot contract physical exchanges.
The Comex will not wait until they have only one ounce left in the warehouse. They will once again change the rules of delivery and go to 100 percent margin.

Sinclair’s full alert is below: [Read more...]

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SRSRocco Responds to Martin Armstrong’s “Silver — the Flash Crash”

May 23, 2013 By 46 Comments

Martin Armstrong stated in his blog Post that the reason for the “flash crash” in silver Sunday night, May 19, was due to the lack of bids.  He goes on further to say  “Despite the gold/silver promoters, there is no expansion of buyers for the precious metals. It has been the same choir over and over again.”
While I have a lot of respect for Martin Armstrong’s work on his pi-cycles,  it amazes me when he makes a comment such as this.  Of course there were a lack of bids during one of the most thinly traded times of the day — it goes without saying.

The flash crash wasn’t due to silver fundamentals, rather it was due to garbage trading of fiat currencies taking place in the Forex markets. [Read more...]

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Rob Kirby Takes The Gloves Off On Silver Manipulation: JPMorgan IS the Gov’t!

May 22, 2013 By 17 Comments

ESFRob Kirby and Andy Hoffman join Elijah Johnson for a MUST LISTEN interview on Sunday’s silver smash, which saw 10% shaved off the silver futures price in only 4 minutes in a massive waterfall raid taking the metal to $20.30. 
Kirby had this to say about the raid:

The take-down in precious metals is a contrivance, and it reeks and absolutely stinks of desperation on the part of the protectors of the world’s reserve currency, and that would be the US Treasury in cahoots with the Federal Reserve.
I want to take the gloves off here.  Let’s just get this right up on the table.  JP Morgan’s positions aren’t JP Morgan’s positions.
JP Morgan’s positions are the positions of the exchange stabilization fund, which is a branch of the US Treasury.  When the US Treasury intervenes in the markets, they do so through the trading desk of the NY Fed, and their positions are executed by the NY Fed, who farm the trades out to the big derivatives banks.  In that context, JP Morgan is the Federal Reserve.  They are one and the same!

Rob Kirby along with Andy Hoffman’s MUST LISTEN interview on silver manipulation is below: [Read more...]

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Was Sunday’s Epic Silver Smash a Cartel Signal?

May 22, 2013 By 25 Comments

cartelBy Eric Dubin

Signalling happens.  Sunday’s smash was more of a standalone attack first and foremost, and then perhaps as a signal.  It was officially reported as having been executed by a single trader (as Reuters reported), presumably JPM.  Naturally, they hopped it would inspire (signal) still further short selling by hedge funds and momentum players that cartel has suckered to join the party since the low $30s in silver.

Sunday’s smash was both a price signal and a direct action in that sense, but it was unlike other, better examples of signalling.  For example, it’s common to see mining equities come under significant pressure for no apparent reason, while gold and silver are just moving sideways.  The very next day, the metals are attacked.  It’s not always easy to say each instance of this pattern is a signal and part of a cartel game plan. 
But this pattern has happened so frequently as to be statistically not probable in a free and fair market and the behavior is suspect.   [Read more...]

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Motive, Means, & Opportunity in the Gold Market

May 21, 2013 By 6 Comments

The various governments of the world and their central banks produce and distribute a product – paper currencies. Those currencies are backed by confidence, faith, and credit, but not by gold, oil, or anything real. Those currencies are digitally printed to excess, since almost all governments spend more than their revenues. The UK, Japan, and the USA are prime examples.
Central banks and governments have, to one degree or another, the motive, means, and opportunity to manage the price of gold. Clearly, their bias is to hold the price of gold low and to restrict its upward movement. Similarly, they want bond and stock markets to move higher, but that is another story.

YOU have motive, means, and opportunity to protect yourself and to profit from this process. [Read more...]

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Jim Willie: Bullion Bank Run in Progress, Climax Coming!

May 20, 2013 By 89 Comments

gold run“Hang on to your gold [and silver], don’t even watch the corrupt gold price, because I can guarantee you in the next several months, or a year or more, there will be NO COMEX GOLD PRICE. Because they will have no inventory; they will offer no more futures contracts, because the line up for lawsuits and prosecution will be so long…”

Jim Willie says the recent gold price take-down has caused, “A bank run in gold bullion banks.  It’s a vault run. . . Wealthy investors are asking for their gold, and some are finding out it’s not there.” Jim Willie, who holds a PhD in statistics, says things are getting worse. Dr. Willie contends, “Back in 2011 and 2012, you had an important event every three of four months. Now, it’s every two or three weeks. So, the mean time between failures is rapidly declining.” Dr. Willie goes on to predict, “Before, they were talking about stress tests. Now, they realize that all of them in the past were a fraud. So, they are talking about ‘bail-ins’ because they are expecting failures.” Dr. Willie contends, “It’s all coming to a climax where gold is going to be central with a gold-trade central bank and gold priced at $7,000 per ounce.” Join Greg Hunter as he goes One-on-One with Jim Willie: [Read more...]

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Gold & Silver Being Held Hostage in the Ultimate Banking Crisis

May 20, 2013 By 7 Comments

bullion hostageThis is all about a banking crises!  Gold and silver are being held as hostages.
The central bankers have their overly-rehypothecated teat caught in the wringer of world-wide demand for physical gold, and they cannot get it out.  Their only recourse has been to drive down, crush would be a better description, the fiat [paper] prices of gold and silver so they can “buy” time to acquire whatever physical available to cover their cheating ways.
Ironically, while these financial fiat-wizards are in a panic mode, of sorts, they are able to buy physical at somewhat lower prices and destroy the ability to take delivery for  those if-you-do-not-hold-it-you-do-not-own-it paper holders upon demand.  “Sorry, but you can only have paper fiat.  Didn’t you read the fine print?”

As we have been saying since 35 silver, 1800 gold; 30 dollar silver, 1700 gold; 25 silver, 1500 gold, etc, the issue is not price, rather, and most importantly, it is all about having possession of the physical for which there is an insatiable demand.  We have been saying this for many months:  keep buying physical gold and silver regardless of price.  At some point in time, it may not be available to buy, except at substantially higher prices, or not at all. 
Better to be the proverbial year early than a day late.

[Read more...]

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Silver Smashed 10% on Globex Open, Tests $20

May 19, 2013 By 68 Comments

silver crashPrecisely as we warned listeners on this week’s SD Metals & Markets, silver was greeted with an epic waterfall smash on Sunday’s Globex, plunging 10% to just over $20/oz moments after the open. [Read more...]

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The Gold & Silver Bull Market Is Dead! Long Live The Gold & Silver Bull Market!

May 18, 2013 By 34 Comments
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The financial media would have you believe that everyone and their dog has given up on the precious metals market.  But as Peter Schiff humorously remarked the last time we were down at these levels:  The PM bull market is dead!  Long live the PM bull market!

On this week’s show, we discuss the recent action in the metals & markets, including:

  • Testing of $22/silver and $1320/gold next week, with the potential for a capitulation spike low as soon as Sunday’s Globex session- silver could see a spike low to $18-$20, & gold a $1200 handle

  • Examination of fundamentals: Nothing has significantly changed

  • Physical versus paper demand trends in both the West and Asian markets

  • George Soros and another documented case of financial media spin [Read more...]

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Controlling the Beginning Stages of Hyperinflation by Manipulating the Precious Metals

May 16, 2013 By 38 Comments

The tactic by the Fed and Central Banks is to inflate the stock markets while manipulating the price of gold and silver lower.  This achieves two goals: 1) it reassures the public’s faith by pumping up stock prices while the economic indicators continue to deteriorate and 2) it elevates the dollar while it destroys market sentiment in the precious metals.

So far, the strategy has worked.  Some of the toughest gold and silver bugs are becoming extremely frustrated and downright bearish.  You can’t blame them as this is typical human psychology.   Although, extremes and manipulations never last forever and at some point in time they reverse.

If we look at the next series of charts, we can see just how extreme the gold & silver markets have become.  In typical inflation-hyperinflations, stock and commodity asset prices rise together.  However, since the Fed announcement of Q3, only certain asset classes have risen — mainly stocks, real estate and to a lesser extent, bonds. [Read more...]

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Is Silver Bottoming, or About to Crash?

May 14, 2013 By 68 Comments

silver crashGovernments spend in excess of their revenues and create ever-increasing debts.
Central banks create the digital currency to keep the debt machines running, thereby increasing the money supply and inevitably increasing prices.
Do you remember gasoline at $0.15 along with other goods and services at similarly “unbelievable” prices? Those days disappeared with the huge increase in the number of dollars in circulation, particularly after Nixon severed the link between gold and the dollar in August 1971.
Silver prices fall until there are few sellers left, rise until there are few buyers remaining, and repeat the cycle.
Each low to high to low cycle takes roughly 4.5 years. At price peaks, the silver bulls are euphoric, while they are depressed and worried at the lows.
Ask yourself, “Does now feel like a low or a high in the silver price?” [Read more...]

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Indisputable Proof Paper Gold Markets are Massively Manipulated

May 14, 2013 By 19 Comments

Jamie DimonWhat would you think if someone told you the following?
“Three times this week, I am going to tell you the low price of gold with near perfect accuracy, and one of those three times, I am going to tell you events that will precede the low and the exact time that gold prices will crash.”

You would likely conclude that either:
(1) I am somehow directly involved in setting the price of gold in paper derivative markets, or
(2) that since nearly perfectly predicting gold price movements three times in one week in a free market is impossible, that such an accomplishment would serve as indisputable proof that gold markets are rigged and manipulated by bankers, as none of my predicted price targets depended upon technical chart analysis of any kind.
So let’s summarize my calls regarding gold price movements on three separate occasions last week, and why I feel that the accuracy of these calls serve as indisputable proof that Central Bankers and their agent bullion banks manipulate the price of gold and silver. [Read more...]

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Here We Go: Silver Waterfall in Progress

May 14, 2013 By 11 Comments

After consolidating near $23.70 throughout this morning’s Asian trading, silver has again been hammered by the cartel, with the first wave of selling beginning shortly after the London open, and culminating in a classic vertical waterfall decline taking the metal nearly back to $23 on the COMEX open.
The move has broken silver out of its nearly 3 week long trading range of $23.30-$24.50 to the downside, meaning a re-test of the correction low at $22.005 is now entirely possible. [Read more...]

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Free Market Forces Will Do What the CFTC Will Not!

May 10, 2013 By 5 Comments

gold & silver sold outThe CFTC IS the watchdog for abuse in the options and futures markets and Friday April 12-Monday April 15 were beyond obvious as to what was done.  Reportedly 1,000+ tons of paper Gold were sold in less than 8 hours of trading.  This is 32 million ounces.  This is 40% or more of ALL Gold produced on the planet in 1 ENTIRE YEAR!  “Who” in their right mind would sell in this fashion?  Who in the world even holds this amount of Gold?  The answer in case you are wondering is NO ONE (other than central banks and THIS may not even be true any longer)!
Forget completely the nuts and bolts, look at this through the eyes of an 8 year old.  The price of the physical metal is different than the futures prices.  ONE of these two must be wrong by definition as they cannot both be correct.  The “price” is and has been “set” by the paper markets.  The “tail is wagging the dog”, this is more than obvious.  The futures markets were set up originally to create liquidity and facilitate suppliers hedging and speculators speculating.  This has gone on for years now (at least since 1996).  Obviously “something” isn’t right when one market has one price and the other another price so …what to do?  Just sit back and wait…for the inventories to be wiped bare.
[Read more...]

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Ted Butler: CFTC- The Worst Regulator Possible

May 10, 2013 By 9 Comments

CFTCBuilding (HomeSubFeature)By SD Contributor Ted Butler

We’ve just crossed a few important anniversary dates that relate to silver that taken in proper perspective point to a disturbing conclusion. That conclusion is that the US commodities regulator, the CFTC, has done more public harm than good over the past few years. Simply put, the public and our markets would have been better off had the agency not been run by the commissioners in place, specifically including Chairman Gensler and Commissioner Chilton. In fact, rarely has so much promise for genuine regulatory reform been squandered as badly as has been the case over the past few years.

I single out Gensler and Chilton because they were once the good guys on the Commission or the only ones pushing for position limits. Since they have allowed position limits, the silver investigation and the unprecedented price declines in silver to fade into the sunset unresolved, they must be held to the greatest standards of failure. In a very real sense, Gensler and Chilton have done more harm as a result of first championing the important issues and then abandoning them. [Read more...]

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