Not to be long or short-winded here BUT as you look at the illegal HFT rigging and manipulations of the entire financisl system how can you comment? If it is hand-holding? To encourage people to protect what little they have that they have wrked for? To clue them in to the fact that they are being down-graded into financial suicide one more time and being robbed of net worth? To clue them into the fact that inflation will eat their non-existent returns? To clue people into the fact they are being led one more time to the biggest cliff they will ever and never see coming?

Cheers.

IMHO

imho PEOPLE do not need a daily comment on the ups and downs, They need a comment on how to protet their hard-working assets from going poof into poverty. My portfolio, for it's humble worth, takes thousands upons thousands of nosedives and elevations with every movement in gold and silver. I do not care. The commentary IMHO is worthwhile in the explanation of why this is manipulation to shake you out.

zooey wrote:
Not to be long or short-winded here BUT as you look at the illegal HFT rigging and manipulations of the entire financisl system how can you comment? If it is hand-holding? To encourage people to protect what little they have that they have wrked for? To clue them in to the fact that they are being down-graded into financial suicide one more time and being robbed of net worth? To clue them into the fact that inflation will eat their non-existent returns? To clue people into the fact they are being led one more time to the biggest cliff they will ever and never see coming?

Cheers.


Zooey, I perfectly understand your outrage. However, as I discovered after doing this for a couple of years, you can't project that outrage ALL THE TIME. There's two problems, first of all it starts to become grating on those who read it day after day. Secondly, and equally important, going around "mad" all of the time only means putting YOURSELF in an unhappy state of mind.

And remember what I tell people all of the time here: every bit of short-term suppression in which the banksters engage means even HIGHER long-term prices for gold and silver.

The mechanics are simple. Gold and silver are already undervalued. Push the prices down FURTHER and you simultaneously RAISE demand and REDUCE supply. The ONLY possible long-term consequence of raising demand and reducing supply is HIGHER PRICES.

So we don't need to "get mad" here, just be patient. Or to borrow a line from an old "Toronto" tune, "I don't get mad, I even the score."

Prices drop a bit? BUY SOME MORE. Getting mad at the psychopathic banksters only AMUSES them. Buying gold and silver is like a kick in the crotch. Which is the more productive avenue for our energies???

Part of the reason I called this section The Daily Grind was a reflection of the fact that investing in this sector is "an eternal struggle" between fundamentals pushing gold and silver prices higher, and manipulation seeking to hold them back.

However, the second aspect to this double-entendre is that I intended to WRITE this daily report over my OWN morning cup of coffee (lol). Of course being out on the West Coast, "coffee time" for me is mid- to late-morning for you Easterners. And for the gold and silver markets, that means most of the day's manipulation is already over.

OK, it's Friday April 6th, and that means it's time for another one of the fraudulent, monthly U.S. jobs reports. These tend to be among the MOST frustrating days for precious metls investors. First of all, the propaganda machine ALWAYS tries to use these fraudulent jobs reports as "reasons" to push gold and silver lower.

This is frustrating in several respects.

1) These jobs reports are the SECOND BIGGEST government lie, behind only its official inflation numbers, so the market is being manipulated on the basis of an outrageous lie.

2) "All roads" lead to HIGHER gold and silver prices, or put another way, both a GOOD jobs report and a BAD jobs report are "bullish" for gold and silver, so even the manipulation of the banksters is based upon totally invalid logic.

The propagandists would have us believe that a GOOD jobs report is BEARISH for gold and silver because it means the U.S. dollar will "strengthen".



NONE of these paper currencies can EVER go UP - because of the reckless rate at which they are all being diluted. All that any news does which is BULLISH for a particular currency is to temporarily reduce the speed at which it falls.

However, since increasing jobs (if they really existed) implies MORE income and thus MORE spending on gold and silver, a good U.S. jobs report should send gold and silver prices higher.

Meanwhile, a BAD jobs report directly implies PLUMMETING tax revenues, higher deficits, and MORE MONEY-PRINTING - so a bad U.S. jobs report is always bullish for gold and silver too.

This brings us to what happened today: a (very) mediocre U.S. jobs report resulted in a small BOOST to gold and silver prices. In other words, the LACK of any firm "direction" for the economy has given the banksters little "ammunition" to use on gold and silver.

Understand that the U.S. government ALWAYS tells the largest lies possible with respect to these jobs reports, however it is LIMITED in how much it can exaggerate.

People like John Williams of Shadowstats still treat these reports as serious numbers. They "crunch" all of the data, and examine all of the assumptions and "adjustments". So this LIMITS how much lying the U.S. government can do with these bogus reports.

So when you see a "disappointing number" for one of these reports (something the propaganda machine HATES) understand that it means that in the real world the job-losses are intensifying...

P.S. Note how LITTLE Bloomberg has to say about a BAD U.S. jobs report. If this had been a LARGE (bogus) number, you can be guaranteed the market-pumpers would have had at least twice as much to say about this lie.




"Gold Prices Gain as U.S. Employers Add Fewer Jobs Than Forecast"

www.bloomberg.com/news/2012-04-06/gold-p...s-than-forecast.html

Gold in London rose for a second straight day after U.S. employers added fewer than jobs than forecast, boosting prospects for the Federal Reserve to use additional stimulus measures to spur growth.

Payrolls climbed by 120,000 in March, the Labor Department said today. Economists forecast a gain of 205,000, the median of 80 projections in a Bloomberg News survey. Minutes from a Fed policy meeting released this week indicated that the central bank will hold off on increasing monetary accommodation unless economic expansion falters.

“There’s going to be this feeling that the Fed’s minutes that said easing was off the table is not going to pan out,” Michael Gayed, the chief investment strategist who helps oversee $150 million at New York-based Pension Partners LLC, said in a telephone interview. “We’re getting the consistent message that stimulus is good for gold.”

Bullion for immediate delivery gained 0.6 percent to $1,640.25 an ounce at 8:49 a.m. New York time. Trading on the Comex in New York is closed today for Good Friday.

Gold has surged about 85 percent since the end of 2008 as the Fed held borrowing costs at a record low and bought $2.3 trillion in housing and government debt.

I waited to see if there was any more "direction" in today's prices before putting out today's edition.

The problem: the price of gold was noticably HIGHER, while the price of silver was flat-to-lower. What makes this a "problem" is that the reason the propaganda machine is giving us for the rise in the price of gold is that the "weak" (i.e. TERRIBLE) U.S. jobs report last Friday means that the Fed is now (once again) more likely to crank-up the printing press.

What has NOT been explained (in any remotely satisfactory) manner is why gold is UP while silver prices are soft. We're TOLD this is because silver is "an industrial metal".

First of all, as I have explained many times in the past, silver is NOT an industrial metal. Rather, the fact that it is very, very valuable industrially (and generally used in TRACE amounts) makes it EVEN MORE "PRECIOUS".

Secondly, since the Crash of '08 - when our economies were crippled and have NEVER recovered, we have seen the price of silver go from under $10 to over $30. In other words, despite WEAK industrial demand throughout these last few years that has been TRUMPED by the extreme money-printing of the banksters (mostly the Fed).

This brings us to a basic EQUATION of the precious metals market: money-printing ALWAYS trumps economic fundamentals when it comes to movements in commodities prices. And for "reasons" we need only look at the QUANTITY of money-printing AND the size of the BETS being placed upon commodities.

If industrial production is flat but money-printing is soaring at 10+% every year, which factor will obviously dominate?

Then throw in the $TRILLIONS in bets the banksters place on commodities markets EVERY YEAR, and we understand precisely why money-printing now dominates (i.e. perverts) all of our markets.

The image of the "feeding the Carps" comes to mind here. Gold and Silver Carp are normally bottom dweller fish, cleaning up the lake floor, eating what they will. Robust, broad diet, swimming, searching for food, living and dying with the fundamentals." However if you start feeding the carp, bread-crumbs or fishfood, they start pooling into a feeding frenzy. They pile on top of each other to get to those crumbs, and stop looking for normal sources of food. Big, fat, conditioned to the site of the crumbs flying from above.

Now pan out, and view the image of (large) gold and silver investors. After being fed crumbs from QEI and II, these huge Carp no longer react to normal lake floor food. They are all staring out of a shallow pool, listless, staring up at the hand of Bernacke. They are waiting for his hand to move, for QEIII crumbs to fly. Meanwhile the lake floor is littered with the carcasses of shareholders holding undervalued juniors. Carpy Market.

It's Tuesday April 10th, and once again we're back to "same old, same old..." Gold was up solidly in Asia, as fears of more U.S. money-printing are once again heating up - before being clubbed back down by the London and New York thugs.

YES this is frustrating but by no means is it anything to WORRY about. Understand that the ONLY reason the banksters have been able to temporarily trap gold and silver in their current trading range is because they still have the VAST MAJORITY of the sheep believing ALL of the following things:

1) The U.S. economy is experiencing a robust recovery
2) The U.S. dollar is the world's strongest currency
3) The U.S. economy is a "safe haven" relative to the rest of the world
4) The U.S. fiscal crisis is under control

Note that the gold market is NOT "all about the U.S." However, the propagandists CAN'T pretend that everything is "OK" in Europe - not when they are simultaneously and publicly sabotaging the economies of Europe with their economic terrorism.

As a result, the ONLY thing keeping metal prices "stable" (i.e. low) is belief in U.S. stability. Is there ANYONE here (who reads my commentaries) who actually believes the U.S. can MAINTAIN the illusion of a "strong, growing economy" much longer?

Note what the Kitco drones just reported in their report on the fraudulent Comex trading: the LONGS significantly cut their holdings last week on the basis of believing what the April Fools Ben Bernanke said at the beginning of the month: that he's finished with his money-printing.

Meanwhile, we had the propaganda machine ITSELF announcing that there were now ELEVATED expectations for more money-printing - based on last week's terrible U.S. jobs report. So we just had "the smart money" position itself on the WRONG SIDE of the trade last week.

This doesn't mean they will IMMEDIATELY flip-flop back and reacquire their long positions. Part of the ARROGANCE with calling themselves "the smart money" is to not ADMIT THEIR MISTAKES (at least not right away). After all, if "the smart money" ever ACKNOWLEDGED how often it was WRONG, then no one would ever consider it "smart money" again...





"CFTC Data: Funds Pare Net Length in Gold On Long Liquidation"

www.kitco.com/reports/KitcoNews20120409AS_cftc.html

(Kitco News) - Large speculators trimmed their net length in gold futures on long liquidation during the most recent reporting week, late-Friday data from the Commodity Futures Trading Commission show.

Meanwhile, the net length of these accounts also fell for palladium, but rose for silver, copper and platinum.

For the week covered by the most recent CFTC report, June gold futures lost $15.70 to close at $1,672 an ounce on April 3 at the Comex division of the New York Mercantile Exchange. Nymex June palladium slipped $3.40 to $659.60 and July platinum dipped $1.60 to $1,660.50. Meanwhile, May silver rose 64.9 cents to $33.265 an ounce and May copper rose 3.9 cents to $3.9190 per pound.

The CFTC data show that money managers, as reflected by the “disaggregated” report, cut their net-long exposure to 118,185 lots as of April 3 for futures and options combined, down from 130,472 the prior week. In the CFTC’s “legacy” report, the large non-commercial accounts—commonly referred to as the funds—cut their net long to 149,599 lots from 160,051 the prior week.

“The funds let go of positions, and that caused a decline in the early part of the cycle,” Sterling Smith, commodity trading adviser and market analyst with Country Hedging, told Kitco News. He pointed out that commercial accounts trimmed their net-short position slightly. “We have seen some mild commercial buying on the dips.”

TD Securities, in a research note, said some investors opted to decrease their long gold-futures positioning due to a decreasing likelihood that the Federal Reserve would initiate another round of quantitative easing in the near term.

Smith pointed out that large speculators often exit the market more quickly than they enter. “We can expect declines to remain sharper than the rallies as the market continues to take the stairs up the building and the elevator shaft down,” he said.

Large speculators cut their gold exposure largely by selling in which they were exiting, or liquidating, positions in which they previously bought. In the disaggregated report, money managers cut the number of total longs by 10,887 lots. In the legacy report, the large non-commercial accounts—commonly referred to as the funds—cut their total longs by 10,282 lots.

Palladium net length in both the disaggregated and legacy reports fell to the lowest levels since Jan. 24, although this selling was split more between liquidation and fresh shorts. Money managers in the disaggregated report pared their palladium net length to 6,562 lots from 7,785 in the week ending March 27. Total longs fell by 594 (reflecting liquidation), while total shorts rose by 630 (reflecting fresh selling). In the legacy report, the non-commercials’ net length fell to 7,724 from 9,373 the previous week, as total longs fell by 833 and total shorts rose by 816.

Meanwhile, fund net length rose slightly for all of the other metals traded on New York futures markets.

Silver attracted fresh buying from the funds. According to the disaggregated report, money managers’ net length rose to 18,839 lots for futures and options combined from 17,031 in the week ending March 27, as the number of total longs climbed by 1,838. In the legacy report, non-commercial net length rose to 23,353 from 21,916 the previous week due to a 2,319-lot rise in total longs, although some of this was offset by an 883 increase in total shorts.

The bulk of the rise in platinum net length appeared to be short covering, as reflected by declines in the number of total short positions. Money managers in the disaggregated report upped their long exposure to 16,238 lots from 15,464 the previous week as the number of total shorts fell by 646 lots. In the legacy report, non-commercial platinum net length edged up to 23,203 lots from 22,856 the previous week, as the number of total shorts fell by 455 lots.

Elsewhere, money managers’ net length in copper rose to its highest level since August, although non-commercials’ net length remained below the high from two weeks ago in the legacy report.

While copper net length rose, the details of the two CFTC reports suggest varying explanations. Money managers hiked their copper net length to 18,642 lots in the disaggregated report from 14,883 the prior week due to a combination of fresh buying (increase of 2,567 total longs) and short covering (decline of 1,192 total shorts). The legacy report also shows fresh buying, as total longs rose by 3,795. However, this report showed there was also fresh selling rather than short covering, as the number of total non-commercial shorts increased by 2,353. Overall, the non-commercial accounts upped their net length to 9,399 lots from 7,956 the previous week.

It's Wednesday Aprill 11th, and "all is quiet on the Western Front" when it comes to the gold and silver markets.

Prices didn't move UP overnight - and so the Wall Street and London thugs have either not TRIED to club prices down further, OR they did try to do so and failed.

At this point the banksters seem to have pushed prices as low as they can possibly go, so the only time they can manufacture any more downward pressure is when prices inevitably bounce higher.

As I've been saying in recent days, the "game" is clear: WAIT for the sheep to figure out that everything they have been told about "the U.S. economic recovery" is a lie. And while admittedly the sheep are nearly completely brain-dead, even comatose sheep can only be persuaded that a Depression is a "recovery" for so long...

It's Thursday April 12th, and the Liars are having a VERY difficult time of it today.

They BEGAN the day by thinking they were going to push gold and silver LOWER. Hence we see this Kitco propaganda from 8:11 this morning (EDT):

"A.M. Kitco Metals Roundup: Comex Gold Modestly Lower On Chart Consolidation; Still Near-Term Technically Weak"
www.kitco.com/reports/KitcoNews20120412JW_am.html

However, then gold and silver surged THROUGH today's manipulation, and so an hour and a half later the SAME Kitco stooge was singing a different tune:

"Comex Gold Pushes Higher On Short-Covering, Bargain-Hunting Buying Interest "
www.kitco.com/reports/KitcoNews20120412JW_update.html

Understand what ALSO shows the difficulties that the liars are having: their REASONS for the price moves. Even the lying propagandists hate to rely upon "T/A" for their lying - since they know more than anyone that all T/A is meaningless.

So usually whenever the prices move up OR down the Liars seek to assign their OWN "fundamental" reason for gold going higher or lower (usually the U.S. economy going up or down - lol). They want to use their OWN lies for "fundamentals" to try to prevent the sheep from ever PROPERLY understanding those fundamentals. The problem is that U.S. "economic strength" is the reason they usually give for gold prices rising - as they claim that means "the risk trade" if popular with the sheep today.

Note the absurdity THERE. Gold and silver are THE ultimate anti-risk assets on the entire planet, but the propagandists want us to believe that "risk" causes people to SELL gold and silver.

And today we see U.S. lay-offs surging to a three-month high - a BEARISH signal which the propagandists would NORMALLY use to drive prices lower. So why did they NOT choose that tactic today. BECAUSE now when the sheep see "U.S. economic weakness" they are NOT thinking "sell gold and silver". Rather they are NOW thinking that "more money-printing is coming" - which is ULTRA bullish for gold and silver.

So ROBBED of their usual lies today, they fell back on T/A. When they were trying to pretend prices were going LOWER they were calling that "technical weakness"; and when they FAILED and prices rose, they don't call it "technical strength" (LOL!), but rather "short-covering" and "bargain-hunting".

So HOW can people be engaged in "bargain hunting" when the price of gold is HIGHER than it has been for the last week or so...???

P.S. Note that the propaganda machine has a "full court press" on right now with their bearish propaganda. Check out this drivel: the price of gold (and silver) should go down "because they are TIRED of always going up".



"Tired legs?"

www.fm.co.za/Article.aspx?id=169437