QE∞ is here and ALL substantial dips in gold and silver MUST BE BOUGHT.
QE3 has not even been in effect for 2 weeks and the San Francisco Fed’s John Williams is already stating that the counterfeiting…er…quantitative easing may need to be expanded beyond mortgage backed securities.

Perhaps after purchasing every MBS on the market with newly printed money the Fed can buy up every tungsten filled fake gold bar from China Tungsten-Alloy.com and properly saturate the gold market, thus inflating gold stocks as quickly as the fiat dollar.

Submitted by SD Contributor Ted Butler:

In the true spirit of transparency and of honesty being the best policy, three weeks ago I wrote to each member of the board of directors of JPMorgan. Since my main intent is to see the silver manipulation ended and not to hurt JPMorgan, I wanted to give them time to respond before publishing the letter. I didn’t want to sandbag or sucker-punch the bank by rushing to make public something I undertook on a good faith basis. If someone at JPMorgan had contacted me indicating the matter was being genuinely reviewed, I would have held off. However, the lack of response suggests to me that it may be business as usual as far as no one in charge moving against a blatant crime in progress. I’m not prepared to patiently wait indefinitely until someone decided to respond.

My allegations in silver are incredibly specific. I believe that JPMorgan, by virtue of a massive concentrated short position in COMEX silver futures, is manipulating the price of silver lower than it would be otherwise. If JPMorgan’s concentrated short position did not exist, the price of silver would be substantially higher. It does not matter if the bank is hedging or engaged in market-making; the mere existence of such an unprecedented large and concentrated short position proves manipulation.

Gold and silver have both nearly completely erased Sunday night and Monday’s raids, with silver up 1.5% to $34.60 early in COMEX trading, and gold up over $10 to $1776.

Silver consolidated at $34 throughout most of the overnight Asian and London sessions, and began it’s strong move higher late in London trading at approximately 7am EST.  Most of gold’s gains were taken in one large vertical move on the COMEX open.

Expect the cartel to continue to throw everything but the kitchen sink at the two metals to prevent a break through $35 and $1800 which would ignite a major momentum move in both metals.

Yesterday news broke that at least 10 tungsten filled 10 oz PAMP gold bars have been discovered in Manhattan’s jewelry district.

Apparently Louis Vuitton & Coach bags aren’t the only thing being counter-fitted by the Chinese, as thanks to Microsoft translator, SD has discovered a Chinese firm SPECIALIZING IN PRODUCING TUNGSTEN FILLED GOLD BARS & COINS!!

Not only will the firm openly mint fake gold coins and bars, but they will apparently mint them to order by request!: ‘Chinatungsten could offer gold-plated tungsten alloy coin by different gold with engraving or stamping. Clients can forward their own design, then Chinatungsten could design and make mold accordingly

The firm states that the fake gold coins and bars are ‘only for gift, present, handicraft, and never could be used for any illegal purpose‘ .  Yes, obviously the fake gold products could never be used fraudulently because they kindly ask their customers not to use their tungsten filled gold products illegally.

The firm explains how fake gold bars are made, and goes so far as to claim that tungsten gold has many advantages over gold, which we suppose is true for those wishing to scam others into purchasing fake gold.

In recent weeks, gold and silver have seen the strong gains that were anticipated by the bulls.  Gold is 11.5% higher and silver is a sharp 24% higher in the last three months alone. In the past month silver is up 11% and gold is up 5.7%.
As in all bull markets – two steps forward are often followed by one step back and a period of correction and consolidation is quite possible.  This week will see the end of September trading and September is, along with November, one of the strongest months to own gold.

Next Monday (October 1st ) we commence volatile October and October is one of the weakest periods for gold and has often seen sell offs (See Graphics). This may be due to gold’s short term correlation with equities and October can often be a brutal month for stocks.
Traders might be advised to tighten up stop loss positions and or take profits. The majority of investors should continue to buy and hold as selling and buying again incurs costs and there is always the risk that October may see gold strength – especially this year given the very strong fundamentals.

Submitted by SD Contributor Marshall Swing:

Gold COT Report 9/21/12:

Commercials added 5,654 longs while also picking up a large 18,196 new shorts to end the week with 57.17% of all open interest, an increase of about +0.35% from the previous week in total open interest, and now stand as a group at 24,963,300 ounces net short, a significant increase of  1,254,200 ounces net short from the previous week. 

USAWatchDog’s Greg Hunter has released an excellent interview with Top trends forecaster Gerald Celente, who says, “The first great war of the 21st century has begun, and people are afraid to call it what it is.” Celente says the extreme violence in in the Middle East and North Africa is Not because of a movie that pokes fun at Islam. It’s because of decades of bad U.S. foreign policy. Celente calls people like Rudolf Giuliani a “s***head” and a “scumbag” for lying to the American people about the real reasons why the Muslim world is enraged. Celente goes on to say, “this is a matter of life and death.” Celente also believes the world is being taken to war because the world economy . . . ‘is collapsing. It’s collapsing in front of our eyes. The numbers are there.” Celente tells people to “buy gold and silver” to preserve wealth and says, “All around the world they are dumping dough into their economies to keep them going.” Join Greg Hunter as he goes One-on-One with Gerald Celente.

Greg Mannarino discusses the Federal Reserve’s goals in it’s QE3 MBS purchase program scheme in this excellent update.
Mannarino states that Bernanke is currently Public Enemy Number 1, as he is INTENTIONALLY creating bubbles and distortions in the markets by debasing the US dollar.
Mannarino states that while QE 1&2, and Operation Twist have been largely successful in re-inflating the securities bubble post the 2008 market crash, severe down-turn in the market is imminent, and even QE3 will be unable to prevent it.

Greg states that QE∞ is all about re-capitalizing the INSOLVENT TBTF banks by guaranteeing the banksters profit on any and all risky loans as they can immediately roll them over to The Fed.  This will serve to re-inflate the housing bubble (banks can once again essentially underwrite any loan at ZERO RISK) as well conduct a STEALTH BAILOUT of out the insolvent banks.

Mannarino concludes by stating the Fed’s desperate actions will not be enough to stave off the coming systemic collapse, and that investors must IMMEDIATELY PROTECT THEMSELVES FROM THE FED BY PURCHASING PHYSICAL SILVER AND BECOMING THEIR OWN CENTRAL BANK.

Silver has just regained the $34 level, and gold is working it’s way back above $1765 after the overnight raid on the Asian market which saw silver smashed to $33.50.

Silver is breaking out from a mini inverse head-and-shoulders that formed this morning on the daily chart, and has now regained $34, after being capped at the level all night.  If $34 can hold here, buyers should emerge sending silver back towards $35.

Is it time for you to back-up the truck and load up on silver?  We have your special today. 

Any silver order over $3,000 ships FREE.  








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Get Your Phyzz From The Doc

“Nothing fancy. Just a telephone and low prices.”

Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, L.P. and one of the most successful hedge fund managers of all time told Maria Bartiromo last week that he owns gold and that he sees no “sensible reason not to own gold”. The interview was part of the Council on Foreign Relations (CFR) Corporate Program’s CEO Speaker Series, which provides a forum for leading global CEOs to share their priorities and insights before a high-level audience of wealthy and influential CFR members.  The respected hedge fund manager suggested that a depression and not a recession was likely and warned of social unrest and the risk of radical politics as was seen with Hitler and the Nazis in the Depression of the 1930’s. Dalio spoke about how gold is a currencyand when asked by Bartiromo “do you own gold?”, he smiled and said Oh yeah, I do.The admission elicited a laugh from the CFR audience. Dalio’s interview is important as it again indicates how slowly but surely gold is moving from a fringe asset of a few hard money advocates and risk averse individuals to a mainstream asset. Wealthier people and some of the wealthiest and most influential people in the world are slowly realizing the importance of gold as financial insurance in an investment portfolio and as money. This will result in sizable flows into the gold market in the coming months which should push prices above the inflation adjusted high of 1980 – $2,500/oz.

Apparently Blythe’s monkey’s are burning the Sunday midnight oil in order to prevent silver clearing $36 and triggering JPM’s rumored silver derivative losses.

A miniature replica of the May 2nd, 2011 drive by shooting was just completed, as silver was knocked down the proverbial mine-shaft moments ago, dropping nearly a dollar in nano-seconds on Monday’s Asian open.

Volume data indicates that 3,297 contracts, or 16.5 million paper ounces of silver were dumped on the market in a mere 5 minutes between 9:00 and 9:05pm EST.
In other words, approximately 1/2 of the entire US annual silver production was dumped on the market by the cartel in a 5 minute period on a Sunday night.