The Battle Royale continues as the cartel has hammered gold back under $1300 once again with a last of $1293, and silver has been knocked under $19.50 to $19.45 on heavy volume the first day without an official London Silver Fix. 


Silver smashed under $19.50:


Is anyone surprised that the metals are crashing on the first day of the new LBMA/CME silver fix? (The new electronic silver fix officially has only 3 participants as of today, HSBC, Scotia Mocatta, and Japanese bank Mitsui and Co.). 


Gold knocked back under $1300 yet again: 

The cartel is clearly attempting to paint a weekly reversal onto the charts and cap the weekly close under $1300.
Will they be successful in holding gold down through the close?

  1. The “fix” is electronic now.  The price manipulation is easier than it ever was.  I wonder how many paper contracts it took to cause that dump?  I have a feeling that their attacks will be more relentless and blatant during the next couple of weeks.
    People here should be happy when the price drops.  Keep the green rectangles ready.  All this presents very nice buying opportunity.
    Don’t forget, the water and food come first. 

  2. Meet the New Boss, same as the Old Boss. 
    As long as gold and silver physical is ruled by 100:1 paper derivatives it’s foolish to believe the price is going to the moon.  It will only be after extreme shortages of the physical that this will change.  Watch all of the overseas physical only exchanges, this could be the straw that breaks the camels back. 

    • The tone of your post indicates it will be quite sometime before these defaults occur. I am rather new at this and not in a position to make huge purchases but I believe a prudent, thinking individual would want to acquire as much PM’s as possible.
      I digress, do you have a hip shot timeline for when these may happen?
      I am tempted to buy now at $19.45 but some say wait a little longer, the manipulations are the last roar of a dying lion and further price decline is imminent.
      I know this is a lot but any thoughts? Anyone?

  3. ‘If You Don’t Hold It, You Don’t Own It’.

    Now that these ‘contracts’ (aka: wager slips) have been converted from physical to entirely electronic, the cliche holds even in THAT realm!

    Show Us The Money!

    • @PatFields said…”Show Us The Money!
      Here you go!
      (Above the Eagle it reads, “Three Rubles” and below it reads, “Bank of Russia.”)
      BTW – did anybody here read on the news about Ukraine attacking a column of Russian military vehicles that entered the country?  If Russia responds – it can become a ‘game-changer’ in their present p!ssing match.

    • @Pat Fields
      Hey Pat, beware of those Trade Dollars….lots and lots of them are fakes.  China has been making them for decades.  Weigh them, measure them, and test them!

    • BobbyBazookaMammothsilverrrr
      All you guys are missing the point. Every country mints silver coins stamped to … HUGELY … over-value their stinking banknotes. Besides, government produced … anything … is only lawfully pertinent to government specifically.

      Regardless of what any of them say, an ounce of silver … weight and measure exclusively … has about the same rational purchase power as a couple thousand years ago (affected only by productivity improvements). Private trade coin shouldn’t have a damned thing to do with government proprietary mumbo-jumbo.

  4. Bank America is the known now the tip of the iceberg in the banking system with a 17 Billion Dollar fine and a huge loss of undeterminable assets as 2016 of them have magically disappeared. May take awhile or not to collapse, but if you have accounts there, you may want to shuffle to a smaller sound bank.  Hey as far as the new Silver fix which is more than extremely hard to understand and now in the hands  of bigger crooks. IMO it is only when the dollar submits to collapse that Silver and sister Gold will go Free Market for a long ride without blood stained hands guidance. I really don’t pay much attention to the articles here as I am always looking outside the box, but do gain amusement from all the posts!

    • @Ranger
      Indeed BOA is in the midst of shiit storm that is slowly deteriorating into a crisis for them. Their exposure to CDS etc., is huge, I think over 80 T$ so it begs the question as to “who” will take them over? The FDIC is a joke when looking at their actual balance sheet and available liquid assets, I think which are around 15- 20 B$ and this makes the slogan “FDIC Insured” a true joke. As far as the USD, it is possible in spite of all the reasons the USD could collapse a some point, that looking at the DXY, I can see it heading back into the upper 80 range towards 88 – 90 if the Euro take a hit due to their current acknowledgement the ‘recovery’ was an illusion. That kind of move would have other implications. A lot of factors to consider, in the midst of quite a murky picture of unbridled greed and fraud that has become so bold, few pay attention to it any more.
      Have a good weekend! 🙂

  5. There is no fair, honest and dependable market for pricing PM’s, despite the incoherent ramblings of those trying to defend and promote a totally corrupted and fraud ridden system. It is not based on supply or demand or any fundamental reason at all. It is completely distorted, suppressed and manipulated by massive amounts of derivatives, leverage and CB intervention (via the FED, UST, JPM, ESF, BIS, etc…). Lets hope we are nearing the end of this pitiful garbage. Just keep stacking.

    Happy Aloha Friday everyone. Don’t worry too much about this stuff. It isn’t worth it, and it will resolve itself eventually. Go have a drink tonight and enjoy your weekend.

  6. This is obviously the work of the banks and their naked shorting,  My question is, if investors and traders can’t do naked shorts, why is not the case with PMs?  If the rug was pulled out from under this play pen, this sort of crap would end post haste.  Short selling, after all, is merely an inexpensive way to hedge your position without closing it.  The banks with their big money crowding out effect are manipulating the markets with it.  End naked shorts across ALL financial vehicles, and the market will return to some sense of normality.

  7. ho hum … u guys are all excited cause the price dropped .. yet again ? the silver fix is exactly that .. a fix … and I’m getting sick of it … frustrated and so on … im done buying physical … done … its all yours … i’ll keep my stack .. but on the next move there will be a ton of guys like me who sat on it forever and once we squeak into decent profit ranges, there will be a ton of sellers .. and then.. guess what.. the price will drop and you guys who continually hold will have to wait another generation … good luck … but i quit !  

    • You’re sick of that? How about people who bought silver at 50$ per ounce and even that, they are still continuing to stack. Take this opportunity by buying more precious metals, because it’ll make your average price per ounce lower. 

  8. Boohoohoo
    Woe is us.
    Silver is too high, we want more time to stack. Silver is too low, we shouldn’t have ever bought silver.
    Bo Polny was right: the silver low was still to come, yet $1281 was the low, as gold didn’t really go below $1290.
    Ok, back to the message: boohoohoo, woe is us, we get to buy cheaper silver. The sky is falling. Boohoohoo.

    • @Proverbs1616  This part of Bo’s prediction seem to be falling in place. Looks like silver will find its new summer/fall low in the next 30 days.  But what are the chances of metals breaking out and reaching for that “proverbial” moonshot before year end?  If we get a move in metals it won’t be as high as Bo is suggesting but I will give him credit for a good call if gold reaches 1700 by years end.  Silver reaching 25 by year end would also be good.  Even these more conservative numbers don’t seem likely on the surface.  Does Bo have inside information?  I hope so.  Marshal Swing is going to have a lot to say if he is wrong.  Something needs to happen though.  Eventually it is going to become apparent that investing in gold and silver was not a good idea to even the most staunch “Gold bugs”.  I came to this conclusion already.

    • @Pollokeeper
      Well, just look at gold, it bounced back up to $1304 and stayed there, but silver went back down.
      And to answer your question about a moonshot… I have no idea and I don’t really care to be honest lol.
      But to give my two cents: Bo Polny’s model evidently is that the moonshot must occur in spite of appearances, as his chart from 1920’s wheat indicates.
      Also, seeing as a moonshot is a rare and unpredictable event, asking me what are the chances of a moonshot in anything answers itself really. I don’t pay that much attention to chances.

    • no .. i do not trust the “system” .. but I had no idea when I got in early that this machination for manipulation was as strong as it is. The fundamentals screeeeeeaaaammm to buy gold and silver.. and I’m just frustrated by the extent of patience we all need to get through this …

    • agree somewhat with Vimy15: Its my input that we’re told it’s just the bankers such as the Morgue, HSBC and Goldman, etc. types that keep the price suppressed but I tend to disagree.  They are just the banks being used by the real suppressors which are the worldwide governments and their Central Banks.  This is why this manipulation has not broken nor seriously investigated plus no banker has gone to jail. 
      The flip side of the coin is the suppression will not end until all h*ll breaks loose and SHTF.  Most likely gold and silver crash hard right along with the market because of the 100:1 paper market controlling the price. At that time the physical will rise from the ashes and the real bull market will go into overdrive.  Hope you enjoy the New Boss, same as the Old Boss.

  9. What this country needs is an exchange that deals in physical metals ONLY.  No options or any kind of derivative, no ETFs, NO PAPER, PERIOD.  It is auctioned off to the highest bidder so that the markets determine a fair price–not bankers and central banks.  In a word, these unscrupulous criminals are doing everything they can to beat down the price of silver so that any would be buyers will flock to treasuries instead (worthless paper).

    • You have that in spot month futures.  Futures contracts go back to the 1500s due to a producer and end users desire to forward contract their products, why do you think that needs to stop?  
      If you are so convinced we need something different, why not try to build it?

    • I don’t feel that we need new markets or regulations, just enforcers that will enforce the current rules w/o exceptions (including the “hedgers” position limit exception)…there is no reason why one player should have a 20,000 contract position in any market or the commercials should be short 100% of the market, any market. imho

    • That’s exactly the reason for the hit, make sure the sheeple stay away from their playpen!  It can get unruly when a lot of new players join the fray, see $49 silver in a few months and how that was dealt with by the locals!

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