As expected, a Massive cartel raid has just materialized, smashing silver nearly $2 from overnight highs to $32.40, and gold $20 to $1724.





Famous waterfall decline in silver:

Gold attacked in waves by the cartel:


  1. This is just too obvious.  All these are, are wash trades. 

  2. a day early :)
    It looks like a Niagra Falls Landscape.

  3. This particular raid is going to allow us to test the views of market analysts.  I made a comment in an older thread that I’ll note here as well.  People like Dan Norcini have been correct to point out the hedge fund roll in price movements over the last month.  He correctly noted that not all price declines are the product of manipulation, and he took some flack for that view.  But I hope Norcini hasn’t turned dogmatic on that point.  Norcini has always been in the camp that understood these markets are manipulated and today is an example where he should get off the focus on hedge funds and point more towards the cartel “running of the stops.”  We’ll see what he has to say…  But he makes for a good case study.

    If you’re new to the silver market, take a look around later today and later this week to see what people say about the attack we just witnessed.  Analysts reactions will reveal quite a bit about their biases.

  4. So the newly un-oppressed Libyans attacked the US Consulate and killed the American ambassador on 9-11. It looks like this will be Obama’s ‘Jimmy Carter moment.’

    If he makes the wrong move – or no move – romney will be our next president. (And he is probably gloating right now about this tragedy and what it means to his campaign.)

  5. Back to the topic at-hand now…Stacker X referred to Niagra Falls.  After Bernanke announces QE #3 tommorrow – will we see an inverse waterfall or is QE #3 already priced into the market?

    And conversely – if he holds off on additional ‘monetary easing’ for now – well we see a repeat of today’s price smash?  It may be prudent to keep some dry power on-hand just in case this occurs.

    • Mammoth,

      There’s a third option.  The Fed might make it clear that it will be doing something soon, but take no action tomorrow in order to buy time to take the action after the election.  That’s a bit like what it did in 2010 with the initial Jackson Hole speech and then, action post election.   A modified version of this strategy would be to launch a small-ish QE-3 program tomorrow with expectations set for more to come soon. 

      Bottom-line:  I think the Fed is going to do the full monty :-)   We’ll get a securities buying program and it will not have a fixed termination date.

      I don’t think so-called QE-3 is fully priced into the market.  It’s probably 2/3rds priced in for the near-term, and once it’s announced the last third will only represent the last wave of the current stage of the bull rise because new investors will join the bull party as the fourth quarter rolls on.  Just to put some numbers on the point for illustration, which is certainly to be taken as more art than science, I think QE-3′s announcement could easily take us to $37 on silver this month — maybe the low $40s.  But it will take new buyers coming in to keep the bull moving after that, and I fully expect that to happen – a consolidation pause and correction in the low $40s in October/November.

  6. Every raid no matter how strong just bounces right back with just as much buying force, like the proverbial beach ball, when you push it underwater, it cannot be held there very long and it very quickly pops right back up with a vengeance.

  7. The American Consulate should have been evacuated from the inception of the take out of their leaders. You can’t just use drones to take out leaders in their country and leave our people behind. This is totally unacceptable! Why where the not evacuated. 

    As for the raid. Just another raid in many..Just hold on and see what happens. Weak Ass Germany going to punish their citizens with flooding their tax dollars to other countries.  

  8. Can someone see how much net position changed during this raid? Was it acutal selling going on, with real money, rather than high frequency in-out trading?

  9. Thank you cartel for the lower price I will be paying for my next 10 ounces. Can you get it down a little more so I can spend a $2000 check on it I will be getting in the mail soon? It is almost like you know I have money coming in and you are doing it just for me. Thanks again and keep up the dis-honesty and deceptions, it is working out well for me.

  10. Woohoo! Went to the coin shop @ 9 AM expecting to pay about 34-35 FRNs per oz. To my delight I got it for way under 33 per. The Sun shines on every dogs rear now and then! Blythe you wonderful, wicked, & evil witch, you made my week!

  11. This raid is good news, that means they are covering their shorts for the announcement of QE3 tomorrow. This is probably our last chance of getting silver in the low 30s if they announce Tulip Mania 3 tomorrow hehe.

  12. Just an observation that this ‘raid’ on silver (much more pronounced than gold) happened at the close of the London market.  Despite all the attention paid to COMEX, London is likely where all of the ‘action’ against silver and gold is taking place.  Not surprising, since history shows fiat debt money was conceived in that part of the world centuries ago.

    • Plebian — The historical role London played in the fiat world, while true, isn’t really why the current London metals market plays such a big role.  The main reason for its importance today is that most of the industrial sourcing of silver and gold and a good deal of the physical moving into investment accounts are sourced from London.  There’s off-take from the COMEX.  But the big dog is London.  There are times when it makes sense for the cartel to beat the heck out of metals in London, and sometimes they even use real metal during sales, which is easier to do in London, with European central banks conducting swap lines with the Fed and with US-stored gold.  More often than not, the games are paper-based.  But pissing on the precious metals market in London does have a few aspects that facilitate the cartel’s effort.

  13. Ooo … perhaps I will back the Tonka truck up today.  Yeah, I’m a small stacker compared to many—but I still feel rich compared to when my retirement funds were 0′s and 1′s floating in NYLife’s IRA lala land. For me, not the company you keep.

  14. As expected? By whom? Every post the last few days has been about silver getting ready to clear $37.50, $45, $60, $80. :)

    My main indicator that price was going to go down was that Provident and Silvertowne were having post-rally sales. They always send out those emails right before the price tanks.

  15. Our sovereign territory was attacked, our citizens killed. Today the scumbucket cartel decides to wage their own form of war against precious metals.  Bad show there in my opinion. 

    The Arab Spring was a food inflation inspired revolution.  Our Fed Reserve chairsatan couldn’t stop printing money and created that bout of  QE II inflation.

      We drone attack their people in Yemen,  they kill our people in Afghanistan. 
    Our banks attack their banks and gold with war, sanctions  and SWIFT.  They attack our diplomatic missions and embassies with rocks, firebombs and RPGs.

      It seems that there is a focal point to all this and my thinking is its centers on the actions of the international banksters and their minions in the White House, London, Paris, Bonn  and Washington DC. 
    Would it be too much to ask that these criminals hold off their raids in this hour of crisis. No.
    But then again, we know their nature and it’s that of a base craven animal.

    • Yet we buy silver amongst the devastation they leave behind… dog eat dog..everyone for themselves… truly exposes the nature of all humans.. survival of the fittest, not of the moral righteous. 

  16. It has been aprox. 3 hours since the raid and the market has already corrected back up by 30%! It looks as though Ag is dragging Au up too.

  17. *YAWN*
    aaaand we’re back at yesterday’s levels

  18. criminal indeed.

  19. I hope whoever was on the buying end of that demands physical silver… I see more raids happening until the cartel either gets out of the short position or the corruption makes the national news.

  20. Yet, they weren’t able to keep silver’s price low any longer because of the market demand. I didn’t even know that silver hit 34$ and then crushed to 32.50$. Although, I was wishing that silver’s price became lower. The key here is that you should not pay too much attention to the market or else you might be discourage.

  21. I looks as if the gold price has been “locked in” the last 24 hours. I don’t know how else to describe it. In preparation of the FOMC statement?

    EDIT: Lockdown no more

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