The cartel has just launched a major raid on gold and silver the morning after gold’s December options expiration, with gold smashed to $1710, and silver down nearly a dollar to $33.13.

*Update: 2nd wave in progress, silver smashed to $32.83, gold to $1704


Silver’s COMEX open swan dive:


Gold’s plunge was even more abrupt, with gold losing nearly $30 in moments:


With raids of this magnitude, the cartel will typically attempt to trigger a second cascade of sell stops and initiate a 2nd raid.   Look for a 2nd raid to attempt to stuff gold back below $1700, and silver under the critical $32.60 resistance.   While they may touch these levels during a raid, physical buying is so strong in London and Asia that the cartel has little chance for success at keeping gold and silver under the critical levels.


*Update: as predicted, 2nd wave in progress

  1. No real surprise here. At options expiry, ‘they’ ALWAYS ‘stop out’ the margined longs. If I hadn’t ‘turned on and dropped out’ of ‘the system’ long ago, I’d be low-bidding fully covered … with NO STOP on the ticket.

    • First Notice Day is Friday(Npv 30).  With so much open interest Blythe has got to pull out all the stops.  The question will be how many of the longs will hang tough and stand for delivery.  Should be interesting being that Dec. is typically a big delivery month.

  2. Arrrrrr so irritating 🙁 Just bought another 50oz yesterday afternoon. Could have bought 51oz today 🙂
    Never mind, we were all warned [believe it was J Sinclair] as the explosion to the upside point nears it will be marked by increasing volatility and larger [$] moves. Eventually seeing daily $10 swings in Silver and $100 swings in Gold. 
    I must, I must, I must keep focusing on the number of ounces and not the paper swings I know. But doesn’t help, now I have target fixation on that lost ounce above. If this keeps up it might end up 2oz LOL.

    • Well, that sucks! It’s the similar that happened to me when silver was at 37$ per ounce. I bought some silver for 40$ per ounce each with the premiums and then it went down too fast. In my case, good thing I bought a gold coin today instead of buying it yesterday!

  3. Noooooooo………… such thing as cartel raids, everything is just normal up in here!
    Those who cannot or will not see that these moves are due to huge manipulating commercial dumps on the market, need to rethink reality! It’s funny how sometimes the easiest things to see are unseen by so many and those same unseeing individuals think we’re nuts for even mentioning the possibility. Sheep will be sheep after all…….
    On a more positive note, they can knock it down but they cannot hold it down, and the coiled spring tension only gets stronger. I can wait, not going anywhere…(too expensive to go anywhere).

    • Exactly! The gold and silver’s prices are manipulated by the cartel because when the smash happened, the US dollar also went down so in reality, both of them aren’t supposed to go down at the same time. In my opinion, it’s impossible right now that a huge physical stockpiles have been discovered!

  4. So what? Big surprise isn’t it? I just told you a few days back that increased Central Bank buying would mean the price of Gold (and by default Silver) would be collectively price managed. What that means is that metals volatility will be reduced as Tier one status is now on the horizon. You had best get used to it. This is good for everyone in the long run even if you don’t like the medicine. I suggest the Gold buyers in the crowd make way for the new Sherrif and find another object to love because this one is not going to pay off with any real satisfaction. And if anyone is still not paying attention then perhaps I can turn your attention to the revival of real estate in America.

    Let me be very clear about this….if real estate recovers then Gold is dead. Does Gold offer rent returns? No it does not. And that is why it is doomed as property takes the pole position again. 

    • All due respect…property cannot take “pole position” unless there is a buying public with either money or mortgage and it seems like there are fewer every day, not more. Everyone is broke and the banks are not lending very easily. That combination can’t support R.E. recovery. The media is pushing the real estate story just like they push the general recovery story but alas, it’s just a story. For real estate to truly recover, money has to start flowing in the direction of the public, not the direction of the banksters.
      The R.E. market has to fully play out like every other market first, and we have a ways to go yet before we bounce off of bottom. Economies are not improving, they are crashing.

    • @Farmer

      Yeah, yeah, yeah. Well, with the ultimate depth of decent in land values yet to unfold, combined with that of unemployment, I wouldn’t be tempted to catch that dead cat. Trying to get those coveted rents needed to ammortize the mortgage traps will, I venture to suspect … daunting … at best. 

    • 1) Tier 1 status has been postponed indefinitely. 

      2) Stop looking at gold from an Americentric focal view. Moreover, American McMansion are not and will never-ever-ever be a store of value. American McMansions lack the quality and durability of a true châteaux.  


    • Sorry Farmer, the U.S. rental market has no effect on gold just because Joe Q. Public may buy a rental property using more debt created out of thin air.  The average U.S. consumer has no investments in gold anyway. 
      Just remember, Mo’ Debt = Higher Gold prices.

    • You boys had better go back and check your charts. Just look at what happened to Gold after real estate started to recover in the eighties. The picture is so damning that you will cry uncle when you see it. There is absolutely no question that Gold prices will have peaked and will begin to decline when real estate makes a recovery. The reason is very simple. It is about capital appreciation and rents. In the meantime don’t lecture me about where the bottom is in US Real Estate. We have just seen the worst collapse in history unfold and there is no guarantee it will get worse. Take note of the levels of reinvestment now materializing from both offshore and domestic sources. There is a land rush on for rentals and that spells the answer to sopping up surplus over time. Look too at the profits that builders have been putting out and do not forget to observe that some markets are now seeing real inflation adjusted price appreciation. It is is pure speculation on your parts that housing is doomed to keep falling. The price to rent and rent/income metrics are very favourable at this time in much of the country. So much so that foreign investors want a piece of the action. Billions of dollars are swirling around the global capital markets looking for yield of any kind. Some of that money is happily finding its way right back to domestic real estate and it is my belief that a genuine recovery is now unfolding. 

    • @Farmer I’ve been in the Real Estate Industry for the past 20 years here in Maine and I’m glad that your Optimistic but I’m not. What the Buyer is buying is a $400,0000 house for $200,000. and you can’t even build it for that and then again they are still sitting on the market at that price in my area. Also prices in the $200,000 range and up are not Selling.
      I do a lot of Short Sales and Foreclosures for banks and talk about Foreclosures, YOU HAVEN’T SEEN NOTHING YET. Banks have been holding them back because there are too many of them and here in Maine it’s taking 14 months now for the Foreclosure proccess to complete.
      Now to my Income: I belong to a company of 65 agents and for the first time in over 14 years I’m in the top 5 for sales in that whole company for the year. I used to Sell between $3,000,000.00 and $5,000,000.00 in Sales most of my career and never came close to 15th Place but here I am number 4 with a total of $816,000.00 in Sales, so do you get the picture? This is why I’m not to OPTIMISTIC about the Real Estate Market.
      As for rentals, my god farmer if you want a deal come up here and I’ll sell you a few apartment buildings fully occupied and the average rent is $600.00 including heat. But guess what the TAXES are heading up, oop’s and I nearly forgot, so is the Insurance.
      Buyers are looking but aren’t buying unless they can get something for NOTHING. SHEEEEEEEEEEEEEE

    • @Marchas45 ….

      Well you just made a damn good case for why is now the time to be buying real estate again. Have we not seen capitulation already? Do current rents not fully justify the cost of acquisition and offer a good economic reward? Why is it I wonder that nobody can ever see the bottoms or the tops. When the bargain of a lifetime comes around everyone runs away in fear. When the prices are severely out of line with incomes and overpriced everyone is urgently trying to pile in and buy. Those are elements of the herd behavior but they are not behaviors that you as a salesman should be promoting. If you put on your darn thinking cap you will find there are many willing buyers. Just show them the caps and make your case. It is econ 101. As to why you are now a top selling agent I would suggest it is because the high powered guys have already moved on to happier hunting grounds. That group would never stick around and get roasted alive for almost five years without seeking alternative employment. 

    • Farner…There is a difference between cause and effect and coincidence.  The drivers of both gold and real estate are Fed actions.  Fed has been interfering with interest rates for a very long time.  An increasing supply of money and credit and negative real interest rates are what drives gold.  Easy money is what drives real estate.  Real estate does not drive gold. 
      If interest rates rise, then real estate will crash.  Real estate has not recovered.  What we are seeing now is a classic dead cat bounce.

    • Nice civil discussion here about real estate.  Can’t help but wonder if this ‘bounceback’ in RE is similar to the price bounce we saw in Silver back in 2011, a few months after it’s April peak.  Everyone was certain we would soon see $75/oz but instead it went back down into the $20’s.  Similar to those folks who are all jumping on the RE bandwagon.

      Sorry Farmer, but those days of huge RE price gains, like we saw in 2005 are over – at least for a few years.  But you did touch upon one gem – renting.

      I purchased the adjacent property in 2008. The seller started out by asking $232K and he ended up settling for $154K – WITHOUT a RE agent involved in the deal, I must add.  I am presently making half the mortgage payment by renting out the barn for horse-boarding and all I do is collect the $$$ each and every month, while the owner cares for the horses.  The plan is to put in a used manufactured home as a rental, and this will cover the other half of the mortgage, in addition to the mfg. home paying for itself as well.

      My point is that the day of making $$$ off RE by buying & reselling is over.  The way to gain from RE is to rent it out.  But people should only purchase if they can have even, or better yet – positive cash flow.

    • Farmer your remark As to why you are now a top selling agent I would suggest it is because the high powered guys have already moved on to happier hunting grounds. That group would never stick around and get roasted alive for almost five years without seeking alternative employment. I’m sorry to burst your balloon but all those top agents are still there and as for bargains, I’ll wait another few years before I decide to buy. Hell I’m trying to sell what I already own. LMAO
      As for renting, what happens when those people don’t have the rental money? Yes their will be a demand for rentals as the Foreclosure Market is not over yet but if the renters don’t have the money to pay then what happens? Your Rental Payment Goes Down Just To Get Someone In There that can afford to pay anything. That’s What’s Happening Here. I’ll stick to buying my Gold and Silver there’s more Wealth in it. And just maybe down the road I’ll be able to buy a few properties with a few oz’s of my PM’s. Lol

  5. Well this was a bummer to see this morning. I hadn’t checked the price since it was $34.18 and boom here we go again. O’ Well I guess I should be happy as I have some extra fiat coming next week to buy some more money and hopefully it will still be down but I doubt it..

    • It would suck if gold and silver goes back up since you may not have much chance to stack at these levels. I just received some fiat cash Thursday and I’ve used them to buy some junk silver and a piece of gold. 🙂

  6. As a person who is all..100% in, and sells a bar monthly to pay bills, I too am very very very frustrated with what is going on in the NOT SO free market. I have to keep reminding myself what my father told me 10-15yrs ago, before I inherited his silver, then put my buyout pension into Ag. The day will come, when I would see full page ads in the newspaper from Industry, wanting to buy silver, because it’s scarce or gone. When that happens, GAME OVER for JPM and the cartel, and we all can pop the Champaign and celebrate. Let’s just hope it comes sooner. One thing we do have going for all us PM bugs, is that we have been given a great education on how CORRUPT the Central banks, Wall Street, Washington, Main Stream Media and THE FEDERAL RESERVE is! As far as the Country goes, it has already goneover the cliff, with no hope, until the RIGHT, wins the next upcoming CIVIL WAR.  how sad. GREED AND EVIL HAS TAKEN OVER 

    • So true that one of the greatest values in the PM exercise is the education of the public about the corruption of the central banks and the rest of the criminal money elite….

    • I don’t think that a silver shortage due to mines productions is the most probable event that will happen to crush JP Morgan. I think that the growing demands will destroy them. As inflation becomes worst, more people will start buying physical silver because it will protect the purchasing power and it is cheaper than gold.

  7. Boy I asked if we were due for a massive drive by in the COT thread and figured something was up. I wasn’t surprised to see silver and gold pushed down a goddamned mine shaft – however I was still angry and disgusted.
    We need to take a deep breath, and remember we’re going to win. I hope to enjoy watching silver walk back up and retrace most of the losses.
    We’re living in a charade. Everything is a goddamned mirage – and anyone who thinks otherwise is drinking too much kool aid.

    • Don’t be that angry. Look on the bright side, the cartel gave you an opportunity to stack some physical gold and silver very cheaply. I wish that gold would become 1500$ per ounce again and silver at 27$ per ounce again and these prices were really a bargain!

  8. Did you know? That Warren Buffet has many very interesting ties to the “terrorist” attacks on 9/11/01. I don’t trust anything he says or does, now he’s recommending Dimon to be a powerful member of our gov’t? REDFLAGS!

    • Savesilver, go ahead and research the “franklin cover up” from the 1980s.
      It was a Pedophile ring in Nebraska involving high level politicians and business men. Buffet money through him or his wife was tied there.
      Like I said it is all a charade. Anyone who thinks the political / elite class care about anyone but serving themselves needs a slap.

      edit – things become very troubling and disheartening when one realizes that they’ve been lied to their whole lives. but you just have to pick yourself up and surround yourself with likeminded people, try to enjoy life the best you can, stick with your convictions and move accordingly.

      Keep stacking folks and all the best. We’re going to win.

    • “We’re going to win.”

      Indeed we are because we have faith and courage.  Never mind the flopping, kicking, and gnashing of teeth of the paper PM paradigm as it twitches its last.  The death of any great beast can be an awful thing to see… blood and hair everywhere.  But it’s OK, everyone.  It’s just a necessary step between here and where we want to be.  Keep on stackin’ and BTFDs.

  9. How will everyone react on the day the SLV starts to fade away, taking the price of ‘silver’ with it?  We can never be free of the market maker’s control until this happens.  To dump paper it will be sold off at whatever fiat price it will bring, until it gets no bid at all.  Those without insight will think their stack is becoming worthless because the bank’s paper is worthless. For a few weeks it will seem like a nightmare, the paper trade’s death will be a real freaky time, one we should all think about and try to get mentally ready for.
    Silver is real money; you have it- they want it, and they want it on the cheap.  Don’t hand it to them.

    • Conax – your insight is helpful, I hadn’t considered the end game for paper silver.  I find it curious that all the silver experts out there haven’t brought it up much.  So true that we’ll need to hang tight when all appears lost.

    • Actually, maybe the premiums on silver will skyrocket when the silver market’s price go down. If I ever have to sell my silver during that moment in which I would never do that, I’ll them with high premiums and not with the silver market’s price.

  10. @Canadian Dirtlump I actually ran into all of that stuff, after somebody told me a rumor they heard about Buffet. I think the banksters are close to panic mode when it comes to physical gold and silver, let’s all hope this is the end of their charades! Hopefully every contract stands for delivery, that’ll serve them.

  11. It’[email protected] PSS (PLANTATION SCRIPT STAMPS)

    • I hoped and expected it to at least partially retrace its losses. What we are seeing is ( I hope ) the cartel losing their grip little by little. This smash would have caused a tailspin a while ago and it seems like they need to add more and more firepower for less and less of an effect. Like a 20 year herion addict, they need twice the does just to get out of bed.
      My new strategy for buying is simply to wait for one of these morning smashes and then click “buy.”

    • @Candian Dirtlump: There is some BIG MONEY fighting the shorts. I do not want to suggest however that our contributions & efforts are not also effective in this financial war. Small investers and stackers I believe have been  VERY VERY EFFECTIVE. Stackers globally: Our combined purchases of PMs are taking millions of physical ounces off the market and are in the grip of the stongest hands ever!!. All of us combined and spreading the word about the banksters delima is really hurting them!

    • Mad?  Hells Bells, man, I am shickled titless over these things!  LOVE the price smashes that allow us all to scoop up PMs at bargain basement prices.  Without these cartels going ape now and then, silver and gold would be MUCH higher in price and my stack would be maybe 1/3 the size that it is now.  😀

    • I’m fighting mad because the smash wasn’t that big like before. I was hoping for silver to go back to 27$ per ounce so that I could buy some more very cheaply like during the summer 2012. Now, the cartel is having some hard time to crush silver’s price lower.

  12. Another Day that the CFTC is DEAF, BLIND, and CRIMINALLY Complicit. There are NO rules anymore so look for Jamie Dimon to be treasury Secretary, Loyd Blankfien will be head of the SEC, and John Corzine will head up the CFTC. Basel III will never be implemented, Dodd Frank Position limits will never take effect and All 401k’s, IRA’s, & Pensions will be forced into negative interest rate Tbills. We must start analyzing the current matrix under the “no rules” worst case scenario and we may be able to predict what’s coming next. I said a year ago they would change the metal content of the 2013 Nickel, and Geithner did me one better, stop making them and pennies altogether. Think, what would be bad, then ask yourself, how could that be even worse? you might get close to what will happen.

  13. Todays raid started in London and then was passed on to Wall Street when it opened. Thats when it got really bad. I wonder how many paper ounces were sold to cause a 1 FRN drop in price? I’ll take a stab at it and say 320 million Ag ounces. The Doc will most likely let us know later today or tomorrow.

    • brotherjohn showed 100 million ounces seemed to have started the driveby shooting into the mineshaft.. followed by of course more.
      It is disheartening to see this bogus criminality, but on the other hand it is very heartening (and hilarious) to watch it climb back up. I’ll say it again, I hope blythe and her comrades all get heart attacks for christmas.

    • Well, we should feel bad a little bit for the cartel that they are losing powers over the gold and silver’s markets because when the cartel crushes gold and silver’s prices, it allows us to buy more physical precious metals a lot cheaper.

    • I’m Not Gloomy, I’m excited. The faster they move, the faster we collapse, the faster we can rebuild WITHOUT Them. What would be gloomy is if we were facing another decade of can kicking and I think we can all agree that there is no way it can go on for that much longer. What’s Gloomy is looking back on the Wasted Century in this Private Monopoly Currency system. What’s Gloomy is all the Suicides to come because people won’t understand what happened. LET’S GET IT ON, LET THE SHTF. I’m 32 and what would be gloomy is being 50+ during this time as their entire life’s work will be destroyed unless they are protected with PMs. After the collapse my labor won’t be able to be diluted, devalued, or outsourced by a printing press. This, I am most excited about. I’m excited about the release of new energy technology and the elimination of the electric grid, I’m excited about all the opportunities for small business when there is no parasitic FIR economy, Burdensome Taxation, or government mandates. I’m excited about all the people going back to work with their hands and Not pushing paper. I’m excited that People will be forced to Pay Attention to what’s really going on. There will be hell to go through but the faster it happens the faster we can get to fixing it but we must collapse first.

  14. no worries YTTT180  I was teasing you a bit.  What you said resonanted with me   Sometimes I catch some crap for telling it like it is.  I’m glad you are excited. Me too.  There are many reasons to be excited about precious metals, technology and the nature of good people in general.  Have fun and stay positive.

  15. Funny how the metals get smashed right before new home sales numbers are released that are lower and last months also revised “sharply lower” then the Feds Beige book shows weak factory activity.
      Geee do ya think this is planned, both of the items above should be positive for gold I would think.
    Nothing to see here sheep move along, I’m Canadian and can figure this out, come on America WAKE UP!!

    • We are awake Silverbullet…we are also fat lazy and generally in a disagreeable disposition( i speak for myself of course )
      I know that folks are waking up by the bushel every day and that does not bode well for the establishment. It gets worse before it gets better and history says we aint seen nothing yet. Way i see it, inform all who have ears to listen, educate all who have the propensity to learn, disregard the rest and hold on tight cause its gonna be one heckuva landing. 

    • American people are more awake than the Canadian people because at least during the US election, there were none-corrupted candidates such as Ron Paul or Gary Johnson. Here in Canada, all the candidates are so bad that we had to “vote” for Stephen Harper who is also a very bad Prime Minister.

  16. I do get gloomy about the crash. So many people are going to be Destroyed. Good people. Hard working people that have not even considered that a crash is coming. They have been in survival mode working overtime or two jobs to get by, and feed Fedzilla too. They don’t deserve it! I want to see these crimminals that are doing, this HANG. And I’M not kidding. I’ve got rope and lots of it!

  17. That was the word I was searching for Flying Wombat.  There is still some speculation as to why Buffet had to puke up his silver  He was a product of his dad’s thinking, researching silver like a day job and started buy MOZ with a vengeance.  JPM sourced so much silver for the old buzzard that they got their ashes hauled up on manipulations charges shortly after they got the silver into Buffet’s hands. WB planned to sit on the silver until its inevitable rise but according to the rumors Buffet found out have 130 MOZ was dangerous to his financial health. It’s also thought that his stack was used to fund the first tranche of silver into the ETF SLV.  Buffet was roughly handled and the forced sale at $7 an ounce was a story for another book.  But he survived to live another day, unlike the Hunts.  Now Buffet is the amiable dunce sock puppet for IL Duce and his Millionaire Patriot army working to launch another broadside  of ‘tax the millionairs and billionaires’  What a strange world we live in.
    “Allocated” is a Latin word meaning “Give us enough time and we will pick your pocket and steal your phyzz” I looked it up on Wikipedia

  18. @Marchas45, “As for renting, what happens when those people don’t have the rental money?
    –  –  –  –  –  –  –  –  –
    In my case, if they abandon their horses, then I will have some work to do filling up the freezer.  Horse – it’s the ‘other’ elk, without the antlers.


  19. @mammoth well at least they can be paying you monthly with livestock when their Fiat runs out. Lol No joke but I believe that’s what’s going to be happening, you and me will be renting to people for labor and such. Are the Serf days back, check your local forrtune Teller. Lol

  20. Good banter re the real estate market.
    Thought I would share a story- 
    Last month had the opportunity to purchase home for fifty cents on the dollar.  
    Plan was to use as rental property.  Nice home.  Your money is not earning you squat in the bank, right?  Long story short, I passed because if SHTF, no one is going to be able to pay the rent.
    Also, want more hard assets and few other things.  My next door neighbor passed cause he literally backed the truck up for silver a few months back.  Eventually his neighbor wrote a check for the home from the proceeds he made selling RE earlier this year (all + proceeds because the land was in his family).  To each his own.   

  21. Good move @sheepdog, believe it or not, I tend to tell my clients not to buy now but they buy anyway and what I get out of it is a commission and a big thank you for being honest. I even told them to put their money in Physical PM’s. Lol God Works in Mysterious Ways.

  22. @Mammoth  Good to hear! I think those people like yourself who have discovered the real opportunity and Silver lining in the Real Estate collapse will do very, very well in the long run. Others discovered just as much. As a kid in the early 60’s I can still recall the neigborhood landbarons who had acquired large parcels of land and multiple lots and houses right after the depression. We thought of those guys as banks. They financed homes to locals in our neighborhood on good terms and made a very good living as property slowly rose in that decade. They were the ones who had jumped on the depressed homes in the Fourties and even though it took a long time to really turn a buck the lot of them were quite successful in the end. They all hung out together at the Italian coffee shop. You needed an appointment to sit down at their table!

  23. @SaberTruth: The reason I was given on the phone for No Ohio Sales is that They are also located in Ohio (Toledo area, 614 area code) and because of PM tax laws in Ohio they will not sell to  residence of Ohio. So we can not get Those wonderful buffalo coins that Doc has been selling at such a good deal! Or his Eagles. SHAME. They said they were moving to Michigan. Ohio is a market of around 12 million people. I say move fast Doc.

  24. It has been nearly 24 hours since the smash began in london and then in NY. The Ag price was driven down from 34.05 to 32.98 PSS (FRN). In the 24 last hours the price recovered but was smashed again overnight and recovered again to 33.77 over a 75% recovery of the price. In truth those crooks gained nothing. And however many short contracts they sold they will probably not make even a thin silver dime if the market trend continues up. GOOD JOB STACKERS

    • “In truth those crooks gained nothing.”

      Sure they are.  They are managing quite nicely to empty their vaults of any silver that remains each time they put it on sale. 

  25. Gold and silver got smashed again, yay! At least now, I can buy some precious metals a lot cheaply than a few days ago. Thanks to this smash, I was able to purchase a 2.0833 grams 90% gold coin for 110$ today because I don’t have a lot of gold bullion!

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