Capitulation, or the Apex of manipulation?  NetDania’s 1 hour silver chart indicates 105,231silver contracts were dumped on the market this morning between 9am and 10am EST, as silver was smashed a dollar from $28 to $27.

To put this number in perspective, 105,231 contracts is north of 500,000,000 ounces of silver, nearly 2/3rds of entire world annual silver production trading in a single hour!
This is either capitulation/panic selling in the face of the EUR/USD gapping down on Euro contagion fears, or more likely, the most blatant manipulative raid to date…even more than the infamous February 29th Leap Day Massacre!  As tomorrow (5/24) is May options expiration in gold, we’ll put our money on #2.

Price/ Volume Screenshot From NetDania (NetDania acquires volume totals from a variety of feeds/sources and claims the volume estimates are not precise, but are a close proxy to actual volume:


This is merely another example of the Psychological WAR raging in precious metals, as discussed by SRSrocco yesterday.

Those who hold physical precious metals in their personal possession have nothing to fear as the escalating psychological war played by the cartel reeks of end-game desperation!

  1. How in the Hell are they getting away with this SHIT!!! really pisses me off. $500,000,000.00 Maybe JP are it again trying to make up some losses but I  doubt it. Then again I wouldn’t put it past them.

  2. “Health before wealth.”  While all of this is happening, please do not forget what is going on in Fukushima, where the people are literally fighting for their futures, and the future of their children.  Fukushima will impact the whole world.

    Also, to gain an understanding of the ‘system’ (no matter if it’s the field of finance, government, economics, health, education, science, social studies, technology, etc, etc), go and read the new book by Sibel Edmonds called “Classified Woman”.  It may just turn your world up-side-down.

  3. Profile photo of
    Proverbs1616 says:

    I’m surprized by the comments here. I know I’m a newbie here, but aren’t you guys aware that China (and friends) are killing off the AU/AG cartels using their own games by forcing them to dump their metals at low prices?

    Maybe it’s manipulation, maybe it’s one more cartel hit by the Chinese. Either way, this is nothing discouraging. Take courage.

  4. 500 million ounces = 13.6 billion dollars worth.  And I’ve always heard the silver market was so small the big players won’t invest in it. Therefore we are to believe that little specs all sold all their contracts in the same hour. And they are still selling. So it is an endless throng of paper sellers with an infinite pile to dump at a loss?
    If there were this much available, the price would have never climbed above 10 bucks in the first place. It’s as common as dirt, right?

  5. While this might make headlines and be great theatre—doesn’t really
    effect me. There is zip I can do to affect the market forces. However I can buy
    if I like the price. And this I do. Lots of really sharp people in here and
    I read in here all day.
    We are all children of our time.
    Firmly believe the headlines are going to keep getting worse and
    Hopeful that consistent stacking is in our futures… even beyond July;
    Which is my rough guess as to when even more shit is going to begin dumping on
    the proverbial fan.
  6. Yesterday’s Silver Inventory Numbers Are In:
    Registered Silver lost 4911 Oz. to 35715284 oz.
    Total is Up 109,426 oz. to 141,932,526 Oz.
    600,120 Oz. Withdrawn From Scotia and 599,685 oz. received
    117,970 received at HSBC

    Jake’s JPM Loss Clock Shows

    A Loss as of 11:00 PST Are $8,494,789,680

  7. Breaking: Jamie Was Just Interrogated By The Police

    Source: Some SD Reader Named Jake

    COP: Jamie? When You Approved Of The $100 Billion Hedge Bet,
    How Much Did You Have To Drink?
    Jamie: About This Much.

    This Exact Scene Was Portrayed By Cary Grant
    In “North By Northwest”: SCROLL TO 3:15 To Find
    Out How Much Cary Grant Had To Drink:

  8. What a crock. Hundreds of tons of physical gold and silver are leaving the LBMA and heading east never to return. The ridiculous and increasingly desperate price attacks at 3.00, 8.20, 10.00 and 12.00 nearly every day are speeding up the demise of the criminal bankers. Good riddance. These guys really are dumb.

    The US Dollar Index rise is completely meaningless. The US Dollar Index has a 57% weighting to the EURO. What a joke. All this rise will do is hurt US exports to Europe. If Obama and Bernanke want to save their asses they will need another round of “public” QE sooner rather than later or the US economy is going down the toilet, if it isn’t already there.

    If everyone is fleeing to the “safe haven status” US Dollar why did the Primary Dealers have to purchase 50% of the latest $35 billion US Gov. Bond Auction. If everyone is fleeing to the “safe haven status” of the US dollar, why
    did the Fed have to purchase 61% of last years debt issuance.

    If everyone is fleeing to the “safe haven status” of the US Dollar why are BOA, GS, JPM, CITI, and MS loaded up to the eyeballs with multi-trillions of dollars of interest rate swaps which are used to suppress interest rates and create artificial demand for US Gov Debt. When the petro dollar starts to collapse and interest rates start going up these banks and the US Government are completely screwed.

    Keep stacking.

  9. Plebian (and everyone else)
     Classified Woman:  After reading the first 2 chapters, I knew she wasn’t exaggerating as I’ve seen it myself (retired fed).  Definitely a good read.  I have, in the past, considered writing about the gov’t.  It would have been a comedy.

  10. Good post Proverbs. Yes, we are quite aware and quite happy too. Stacking made easy I say. It won’t last and the people here know it. Their point is that there is such open corruption and the public don’t see it. Bring it on down.

  11. Dose anybody want to tell me this is not the same old smack down. This is starting to happen every other day know. Most of the time it starts in london maybe someone decided to sleep in today.  

  12. I find it funny how the charts show a mirror image when comparing 2 days… It also looks like a huge mouth going gobble there dollars gobble there dollars…

    The way they mirror back to back days it almost makes it so you could actually tell when the bottom will reverse for that day giving you the best spot price…

    Damn sickening that they can manipulate the paper market like that…
    Remember… Gobble there dollars…

  13. And I’ve always heard the silver market was so small the big players won’t invest in it.”

    In the schemes of the financial world, this IS tiny… damned near microscopic compared to the tens of trillions of dollars in the stock and bond markets.

    Dose anybody want to tell me this is not the same old smack down.”

    It sure looks like it.  Take heart from the fact that these manipulators are having to do more and more to accomplish less and less. A couple of years ago, dumping 1/10th of this onto the market would have cut the price of silver in half.  Now, all it can do is a buck and that only lasts a few days.  Other than gutting themselves in public, these bullion manipulators really aren’t accomplishing a damned thing.  So, let them go ahead and knock themselves out.  We will all gorge our hoards on the cheap prices that their ridiculous antics provide.  Yes, the benefit to us is totally unintended but WTF… we’ll take ’em! 

  14. Ya Danno, I can go to my local PM dealer at 10:30 and get the best spot price for the day. Same old dump day after day maybe I should get into paper. It’s like insider information!

  15. You guys are right on. This is actually getting fun. The manipulation is so constant and repeating, you know exactly when to hit the LCD. Good show 427. Silver is down at the moment and I’ll be heading over to the LCD around 10:00 – 10:30 myself.

  16. Thats right Danno;

    The euro will drop when Greece go’s there one way and others will follow. The $ will clime and silver will fall but hold tight and stack at the new blue lite special price.  

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