samix wrote:
Jeff, this is entering the conspiracy zone, but could the evil oligarchs out of complete frustration just start manipulating the live chart data at the Crimex ? I mean even if people are buying with both hands they may decide the chart to move in the opposite direction, thereby causing a panic and fall in price ? I mean just disconnect the chart from all real action and show the data that they want to show ?


Samix, I think we can rule out the TRULY extreme scenarios until we're literally in the final days of collapse - and no one has anything to lose.

Until then, remember the Golden Rule of all con-men: you MUST retain the confidence of the Chumps or they won't take part in your scams. So things which would be extremely difficult to cover up AND would create especially terrible "optics" would be the least likely events to worry about.

In particular, if there were EVER a day in any market when different people (in different locations) were seeing totally different data streams, that wouldn't simply torpedo confidence in the precious metals sector but in ALL markets. MUCH too much to risk.

It's Monday June 11th, and I'm fresh off of doing another video clip with independent producer "BigDad", so hopefully my synapses are all firing at peak efficiency (lol).

I mention this upcoming clip (and hopefully people will tune-in when it appears later today in our "Videos" section, on the center of our homepage) because it was a good illustration of WHY we need to acquire so much GENERAL knowledge in order to have a good grasp of the precious metals sector.

We seemlessly moved from the Euro debt-crisis, to Wall Street banks, to the bullion market, and then discussing the implications of living in a "post-antibiotic world"...and all of these subjects were linked together (directly or indirectly) by their significant relevance to the precious metals sector.

This is why I try to keep peoples' focus as broad as possible, and NOT simply to minimize their frustration from this infuriating sideways pattern we've been temporarily locked into for the past 16 months (lol). Understanding the various, related facets of this market not only helps us understand the TRUE VALUE of gold and silver, but it allows us to be much more patient at times like this - because we KNOW the market MUST break out higher. EQUALLY, we know that the longer the sideways pattern persists, the HIGHER the next bounce will be.

Knowledge IS power. It provides one with the capacity to make rational, effective decisions AND to over-ride the endless EMOTIONAL impulses (which the banksters prey upon) - in order to prevent us from self-destructing.

It's not enough to merely learn the specific fundamentals of the bullion market itself (i.e. basic supply and demand). We MUST also acquire at least a BASIC grasp of the LARGER economic fundamentals - which are currently (and endlessly) being VIOLATED by our governments, and PERVERTED by the media's lies.

As for the price action today, we're starting to see some semblance of a behavioral pattern. When gold and silver went on their BIG runs from the end of 2008 to early in 2011, what we saw was that the Wall Street banksters seemed content to allow those rallies to continue - as long as they could successfully PUMP U.S. markets higher right along side of gold and silver.

However, now the pattern is DIFFERENT. What we're seeing in general (and again today) are the banksters SACRIFICING "up days" in U.S. markets, simply to drag gold and silver a little lower. Today was all set to be a "risk on" day (where markets all ran higher) following the latest bail-out for Spanish banks - since as we know, all of these bail-outs PERMANENTLY "fix" these fraud/insolvency problems. (lol!!!!).

Markets started HIGHER in Europe - including gold and silver. But that was NOT going to be tolerated by the Wall Street banksters. They didn't even allow their European victims ONE DAY of reprieve from the latest bail-out/hand-outs, markets REVERSED lower, taking gold and silver with them.

In other words, it APPEARS that they are so desperate to hold down gold and silver that they are prepared to SACRIFICE the banksters' beloved U.S. equities markets (and all the fraud-profits they generate). Note that holding DOWN U.S. markets will quickly cause the U.S.'s "pension crisis" to turn into a pension CATASTROPHE. And so like all of the other banker-manipulation it has a TEMPORARY shelf-life.

P.S. For those readers who haven't listened to any of my previous interviews with BigDad, here's the last clip we did together:

"Central Bank Liars"
www.bullionbullscanada.com/bullion-bulls...1-Central+Bank+Liars

It's Tuesday June 12th, and looking more and more as if we HAVE seen the Turning Point in this market.

Recall what I was saying yesterday: the banksters had been willing to sacrifice U.S. equities in order to drag down gold and silver. The B.S. theme was simple: "deflation" was bad for gold and silver (as well as equities), and so every time there was weakness in the markets we saw gold and silver heading lower...since B.S. Bernanke had assured everyone that his money-printing days were OVER.



Suddenly the dynamics are changing. Now when we see economic "weakness" in the numbers being kicked-out by the media this no longer means "deflation" to the Sheep - but rather more "stimulus" (i.e. money-printing), as evidenced by today's headline at Bloomberg:

"U.S. Stocks Rise on Stimulus Bets While Spain Yields Jump"
www.bloomberg.com/news/2012-06-12/stocks...pain-bonds-fall.html

If this is the new "message" then the turning point is here. On the "good news" days gold and silver will rise on "inflation concerns", and on the bad news days gold and silver will ALSO rise - because the Sheep are told more money-printing is on the way.These are the SAME dynamics which existed from the end of 2008 to early 2011, when gold and silver went on their biggest runs of this entire bull-market.

Like I said yesterday in The Grind, this is NOT a big surprise - because the ability of the (crippled) U.S. economy to withstand a decline in equity markets is VERY limited. The bankers are feeling the "pain" and now WE stand to "gain" as a result.



As I speak, gold is back well over $1600/oz again, and up roughly $20 - despite the fact that "fear" about Spain is dominating markets today. And silver is up over 1%, despite the fact that economic weakness (supposedly) kills demand for silver...

I can't help wondering if the Morgan Stanley "loss" of 2B dollars was related to short selling of Gold and silver. They are doing thier dambdest not to let the media in on any details. I bring that up, because it would get increasingly tough for them to sit on commondities, if the SU public gets a better look at thier books via Congress. They certainly seem to have the CTFC bought and paid for.
If so, then the downward pressure on metals might ease up for a stretch. I'm not holding my breath though. Lots of bargains out there.

Brian Boutilier wrote:
I can't help wondering if the JP Morgan "loss" of 2B dollars was related to short selling of Gold and silver. They are doing thier dambdest not to let the media in on any details. I bring that up, because it would get increasingly tough for them to sit on commondities, if the SU public gets a better look at thier books via Congress. They certainly seem to have the CTFC bought and paid for.
If so, then the downward pressure on metals might ease up for a stretch. I'm not holding my breath though. Lots of bargains out there.


Brian, JP Morgan itself is claiming that the losses relate to its interest rate swap and/or credit default swap derivatives - and not its commodity-manipulating derivatives. Of course simply SAYING that doesn't make it true (especially given the source - lol), at this point we have no choice but to work with the premise that this "trading loss" was unrelated to JPM's rampant manipulation in the silver sector.

From a simple numbers perspective, IF this loss is much, much bigger than Jamie Dimon is pretending (which is what is now rumored) that also makes it more likely it's related to its debt-derivatives - not commodity derivatives.

It's Wednesday June 13th, and I'm now willing to say that the Turning Point is here. This does NOT mean that prices will immediately start spiraling higher for gold and silver. What is DOES mean is that the bankers' previous lies/games that they have used to hold back gold and silver will now cease to function.

The ONLY thing which the banksters can now do to delay the advance of gold and silver is to engage in EXTREME behavior: some massive ambush in the precious metals sector, or simply "crashing" all of our economies again. What is important to note however is that ANY success the banksters had there would be EXTREMELY brief - i.e. prices would go straight down and then boomerang straight up (and likely higher than before).

The game of TRAPPING gold and silver in a trading range is OVER.

Why am I so confident? The U.S. retail sector has now COLLAPSED in this "consumer economy". Much like we have had back-to-back TERRIBLE numbers for U.S. durable goods orders (i.e. manufacturing) we have now had back-to-back TERRIBLE numbers for retail sales.

UNADJUSTED for inflation, U.S. retail sales fell 0.2% in April and 0.2% in May. "That doesn't sound like a collapse!" rebut the Skeptics. Now let's adjust those numbers for inflation AND convert them to an ANNUAL rate of change.

Suddenly that 0.2% decline becomes a 12+% rate of decline (annually) in retail sales. Understand that (directly and indirectly) consumption now accounts for close to 90% of the U.S. economy. Thus a 12% drop in retail sales implies a MASSIVE plunge in U.S. GDP - well in excess of 5% and likely closer to 10%. That would be TWICE AS BAD as the Crash of '08.

Now, regardless of whether B.S. Bernanke SAYS he's cranking up the printing press, all U.S. bad news will be equated with NEW MONEY PRINTING - the same dynamic which took gold from below $800 to over $1900, and took silver from below $10 to over $40.

Recall that the previous numbers on durable goods implied an annual rate of decline of 33%, so U.S. manufacturing is collapsing even more severely than retail sales. The (official) "U.S. economic recovery" is now unofficially over. And several months down the road, when the Liars take some time to "revise" their numbers on U.S. GDP we will be told that the "next U.S. recession" began in either May or June.

We may not be "out of the tunnel" yet, but we can now see a very bright light ahead (and no, it's NOT an on-coming train - lol)...



P.S. Note what is REALLY surprising about the terrible retail sales number is that is MATCHED PREDICTIONS of the so-called experts. So here's a question for these economic charlatans: how can they claim the U.S. economy is "recovering" while PREDICTING that U.S. retail sales would start plummeting lower????




"Retail Sales in U.S. Declined for Second Month in May"

www.bloomberg.com/news/2012-06-13/retail...naling-slowdown.html

Retail sales in the U.S. fell in May for a second month as slower employment and subdued wage gains damped demand, a sign the world’s largest economy is cooling.

The 0.2 percent decrease followed a similar decline in April that was previously reported as a gain, Commerce Department figures showed today in Washington. Last month’s drop matched the median forecast of 79 economists surveyed by Bloomberg News. Sales excluding automobiles slumped by the most in two years...

It's Thursday the 14th, and further evidence of the different dynamics taking shape in the gold market (and SOON the silver market too).

There were TWO pieces of U.S. economic "news" (i.e. lies) out of the U.S. today. First, we got a particularly absurd lie concerning U.S. inflation - where supposedly there was DEFLATION last month (i.e. prices FALLING). Understand that back in the REAL world John Williams calculates U.S. inflation as being at-or-above 10%.

So the new "plan" is to simply tell MUCH bigger lies about the economy. That's how Pravda earned such a fine reputation with the people of the Soviet Union...



But let's put aside the fact this is yet another strategy doomed to failure, TODAY the Sheep were still believing that lie. Obviously DEFLATION for gold and silver is like Kryptonite against Superman, or garlic against a Vampire. It's SUPPOSED to send the price of gold tumbling.

Also today we got more BAD NEWS on U.S. employment, this time it was the weekly lay-off numbers which were "worse than expected". Only TWO WEEKS ago that would have also pushed gold and silver lower - being called a "risk off" day by the media parrots.

So what we had today were TWO news items which (previously) would have pushed gold and silver prices MUCH lower. But TODAY things are different. Instead, the second piece of news on weak U.S. employment has become gold (and silver) BULLISH, because now the Sheep interpret weak U.S. numbers as equalling MORE MONEY-PRINTING - one of the most bullish fundamentals for precious metals.

Thus (as I write this), instead of gold being DOWN by $30-$40 an ounce today (or MORE), and silver being DOWN by $1-$2/oz; we see the price of gold flat, while silver simply gives back the 40 cents it gained yesterday.

Simply, if gold prices are now FLAT on the "bad days" and (obviously) rising on the good days, you don't have to be a psychic to figure out where prices are going to go. Short of PRETENDING to have "fixed" the Euro crisis (and getting the Sheep to BELIEVE that lie) it's very difficult to see how the banksters can get ANY downward traction on prices.

The news today is about the BEST the banksters could hope for (i.e. the MOST gold-bearish lies). And keep in mind that at this point the irrelevant T/A that many of the Sheep continue to rely upon is still very negative for the gold and silver markets. As the charts continue to heal, soon the idiot T/A jockeys will be jumping onto the bandwagon too.

Obviously silver bulls must be ESPECIALLY frustrated at the present time, so let me spend a minute on this market. Amazingly, the propaganda machine is able to get the Sheep to believe to the lie that we're awash in EXCESS silver at the present time.



It's not worth either posting, or attempting to "analyze" such nonsense, since one has to lay such a long "trail of bread crumbs" to lead readers back to the real world that it's simply an exercise in frustration for all concerned.

Very likely it's going to take something like Eric Sprott making another BIG buy for his fund to EXPOSE that lie - and then we'll see silver regain its momentum, and start LEADING gold higher. For the moment however, it's the familiar "big brother/little brother" dynamic - where silver has to piggyback on gold's momentum to move higher.

A great time to BUY MORE SILVER...

"Gold retreats after weak inflation data"
www.marketwatch.com/story/gold-futures-e...a-trading-2012-06-14

"Jobless Claims in U.S. Unexpectedly Rose Last Week"
www.bloomberg.com/news/2012-06-14/jobles...-rose-last-week.html

It's Friday June 15th, and (finally) it appears that we have seen some "validation" for simply WAITING for the market to turn in our favor. Even the mainstream media has been forced to notice the (apparent) Turning Point which has taken place in the precious metals sector - noting that the 6th straight day of gains in the price of gold is the longest such streak since October of last year (as it was moving to its short-term peak over $1900/oz).

The price of gold appears to be set to close the week somewhere above $1620/oz, while silver continues bouncing around just under $29/oz. A WONDERFUL time (and price) to do some more buying!

Recall what I've been saying all along here. We weren't waiting for "one big day" or simply for an upward move in bullion prices. What we needed to see was a CHANGE IN ATTITUDE which resulted in a REVERAL OF A TREND.

We have now apparently seen both of those things. "Bad news" in the U.S. is no longer been equated with LIQUIDATING all "inflation" bets (because of fears of deflation - lol!). Instead bad news in the U.S. NOW equates to MORE MONEY-PRINTING - the primary factor which has taken the price of gold from under $300 to over $1900; and the price of silver from under $4 to over $40.

What we want to see here is NOT some sudden and spectacular bounce higher. Rather, what would be much more supportive of a long/strong rally would be to see the market simply start to slowly/steadily advance higher - BROADCASTING that the trend has now reversed.

As I noted in other posts today, ALL of the U.S. economic news is bad now - and ALL such bad news is SUPPORTIVE of higher gold and silver prices. Much like we went through a period where it seemed that ALL the news (good or bad) was being spun as NEGATIVE for gold and silver, now "the Worm has turned".

We could still easily see some major silliness next week, as either fear or EUPHORIA (after Greece's election) could cause more market idiocy next week. Do NOT be fooled! As soon as the dust settles after the Greek election, and it filters down to the minds of the Sheep that NOTHING CHANGED, then we will see this NEW trend resume.

Have a good weekend everyone!!

It's Monday June 18th, and as I suggested at the end of last week (and over the weekend), the Greek election was seen by the banksters as an opportunity to launch another attack on precious metals - but as we see by the numbers today, they could NOT get any traction.

After initially pushing gold about $10/oz lower (roughly 0.5%) immediately after trading opened, the price of gold has been inching higher, and is now just a few dollars off its closing price on Friday. We COULD easily see the price of gold ending HIGHER today - as all that the market is focused on now is MORE MONEY-PRINTING. And there is no way to pretend that diluting this paper still further could be "bearish" for bullion.

As I've been saying (like a broken record) for many months now, we needed to see EVENTS in the news leading to a CHANGE IN ATTITUDE with the Sheep. That has now clearly occurred, and thus we are moving into the NEXT CHAPTER in this market...

It's Tuesday June 19th, and after a rather brief edition yesterday I'm going to be a little more talkative myself.

And what I want to talk about is how quiet it has gotten around here - despite my recent suggestion/assertion that a "Turning Point" had arrived. Personally I had assumed that such news would be greeted with welcome relief by our long-suffering members/readers, but that has not been the case.

Instead, my announcement has been greeted with total silence. This would appear to be indicative of one of two things. Either my personal credibility has eroded, and people around here no longer CARE about my opinions on the market; or, bullion-holders have been clobbered over the head so many times during this extended sideways action in the market that they have simply become very, very wary about EVERYTHING.

I'm hoping that it's the latter explanation which is appropriate - and not the former...



Either way, however, I'm certainly not going to shut up.



What I want to note this morning is the lack of DOWNWARD DRIVERS for bullion prices. Previously "weakness" in Europe" was a (supposed) reason to sell bullion, since it (supposedly) meant that we were headed for deflation. But now Europe is SO WEAK that any further slide creates fears of total COLLAPSE - which is obviously gold-bullish.

Previously, U.S. "economic weakness" was a reason to sell bullion, for the same reason. Now, while the Sheep still don't understand that the U.S. is ALSO on the verge of collapse, they now equate more U.S. weakness with more MONEY-PRINTING - which is very gold bullish.

And IF we should ever see some overall signs of HEALTH in the global economy, then the Sheep will immediately notice the EXTREME inflationary pressures all around us - also very gold bullish.

As I've said all along, "all roads [should, and eventually will] lead to higher gold and silver prices". What is IMPORTANT is that now even the SHEEP see the same "road" ahead of us...