T. Ferguson: Gold to Break 100 Day Moving Average Next Week, Target $1500 in 2014!

Play

gold bullTurd Ferguson joins the SD Weekly Metals & Markets as a special guest host this week! We discuss:

  • Blythe Masters joins the CFTC for 12 hours to advise on Swaps regulation- TF lets loose on the audacity of the criminal banksters
  • Price trends in precious metals and fundamental underpinnings going forward
  • The Doc’s retail market report- big money is buying physical with both hands
  • Turd Ferguson on the “end game” of the “Great Keynesian Experiment”- TF calls for gold to break its 100 DMA to the upside next week, gold & silver to challenge $1525 and $26 in 2014.

Turd Ferguson discusses market manipulation & his outlook for the metals on the SD Weekly Metals & Markets! [Read more...]

JPMorgan’s Blythe Masters to Join CFTC?

Blythe Masters Jamie DimonIn perhaps the most bearish news for paper gold & silver prices of the year, the head of JPMorgan’s Commodities division (and the face of the bank’s alleged manipulation of the gold & silver markets) Blythe Masters, has just joined the CFTC in ad advisory role for swaps regulation.
No, this is not April 1st, and yes, you read that correctly. Blythe Masters, welcome to the CFTC. [Read more...]

Pic of the Day: Bart Chilton Steps Down

Our talented Pining caught up Bart Chilton on his way out the door at the CFTC today… [Read more...]

“At Last”: Bart Chilton Stepping Down from CFTC!

ChiltonIs it Mission Accomplished for the CFTC’s “Good Cop”?
In a statement just released by the CFTC, Bart Chilton has sent President Obama notice that he will be stepping down from his position as a CFTC Commissioner.

Chilton’s full statement on position limits & resigning from the CFTC is below: [Read more...]

Market Manipulation & The Sicilian Code

mafiaCriminal enterprises the world over are tied together by a particular conduct so endemic to organized crime that it might accurately be referred to as Mafiosi Best Practices.  It is based on the very common-sense principle that one should never, ever leave a paper trail of one’s criminal activity.  Any document, from notes at a meeting to a list of goods, is a tangible piece of evidence that could be used against you at some future date.  The Sicilian Mafia, renowned for their “code of silence”, had an old saying which sums this up perfectly: Never write when you can speak, and never speak when silence will do.
What does this have to do with Gold and Silver?  Perhaps a great deal.  [Read more...]

CFTC Files and Settles Charges Against JPMorgan Chase For Manipulative Conduct In Connection with “London Whale” Swaps Trades

Jamie DimonThe CFTC has announced Wednesday evening that it has settled with JP Morgan for $100 charges that the bank violated prohibition on manipulative conduct in connection with the London Whale swaps trades which saw the firm lose nearly $9 billion.
In the settlement, JP Morgan admitted that its traders (no mention of Mr. Dimon, who assuredly approved his traders actions removing IG9 swaps delta hedging interest rates) acted recklessly, and agreed to the $100 million penalty. [Read more...]

Precious Metals Markets: The New Wild, Wild West

Precious metals markets are now the Wild West: a lawless territory where the Judges are bought and paid for, and where brutal and rapacious men are allowed to pillage the populace at will, unchecked by the rule of law.  The Sheriff is too cowardly to emerge from his office, let alone do anything to go after the bad guys.  He slumps impotently behind his desk, mourning his receding hairline and hoping against hope that nobody brings in more evidence of wrongdoing- not because he would then have to do something (there is no crime so egregious to cause him to bestir himself) but because such revelations make his inaction and cowardice even more publicly humiliating than they already are.
Meanwhile, the townsfolk are realizing they are completely on their own.  They stay inside and keep their heads down, trying not to get preyed-on by the gangs of sanctioned looters roaming the territory.  The smart ones are quietly stacking all the gold and silver bullets they can lay their hands on, knowing that they and they alone are responsible for their own safety. [Read more...]

Friday Humor: Bart Chilton: If You Don’t Want Consumers Protected, Fire Us All!

ChiltonBart Chilton provided Friday humor a little early yesterday on Bloomberg: “If you don’t want consumers protected, fine, fire us all, shut us down.
If you want the markets safe, secure, efficient, and effective, that helps markets and consumers, you’ve got to keep us on the job.”

Chilton’s full Bloomberg interview on why strong regulators (an oxy-moron if we’ve ever heard one) are needed is below:

[Read more...]

Gensler to Step Down as CFTC Chairman

Gensler

H. Darr Beiser USAT

The WSJ is reporting that Goldmanite Gary Gensler has declined an invitation from President Obama to serve a second term as CFTC Chairman, and will leave the CFTC by the end of the year.
Apparently Goldman no longer needs their man at the CFTC now that the agency’s 5 year “investigation” into silver market manipulation has been put to rest. [Read more...]

David Morgan: Poor & Middle Class Sacrificed for the BANKS

David Morgan joins Elijah Johnson to discuss the Federal Reserve’s recent decision to continue printing $85 billion each month to “stimulate the economy.”
Morgan declares that the truth of the matter is, the Fed continues their printing to “keep the banking system, the ‘Too Big to Fails’ intact.
Morgan also discusses his view on the recent announcement by U.S. Commodity Futures Trading Commission (CFTC) regarding silver market rigging, and whether the US will raise the debt ceiling and re-open the gov’t, or whether the US will default for the first time in history.
David Morgan’s full interview is below: [Read more...]

Did Bart Chilton Predict Today’s Gold & Silver Smash?

Bart Chilton on today’s metal’s smash:  You’re on your own.
Chilton’s prediction that the “do-badders” would attack due to lack of any gov’t oversight of the markets in light of the gov’t shutdown is below: [Read more...]

Another Day, More Algo Silver Manipulation: SD Dissects Today’s PM Smash

This morning’s trade in silver demonstrates a pattern regular observers of this market will instantly recognize. 
This pattern happens so frequently that any claim by the CFTC that they couldn’t get to the bottom of this sort of crap is just nonsense.
But we have a pretty good idea why the CFTC closed it’s investigation.  How can you bust the government that your agency is a part of?
We see the firm control of manipulation algo patterns operating in the early morning hours both yesterday and today.  Then, we have a flash crash running of the stops going into the COMEX open, which has been a one-two punch set-up we’ve seen countless times.    The only thing different today is that there was more low hanging fruit to harvest on account of gold and silver speculators fearful of what a government shutdown could mean such that these speculators were operating with tighter stops.
This was furthered by the fact that support levels informing the views of these technical analysis dependent speculators were targeted and blown out of the water by the fast crash algo manipulation.
[Read more...]

Bart Chilton, RESIGN and Become a Whistleblower: Open Letter & Petition

ChiltonTheNewsDoctors.com Exclusive:

Open Letter & Petition to CFTC Commissioner Bart Chilton
Petition Background (Preamble):

CFTC Commissioner Bart Chilton has claimed he stands for honest markets. We, the undersigned, call upon him to read the open letter below and take the only appropriate action remaining. Mr. Chilton: Resign, become a whistleblower and take your rightful place in history.
Click here for The News Doctors’ Exclusive open letter to Bart Chilton calling for the CFTC commissioner to resign and become a whistle-blower on the manipulation of gold and silver markets:

 

 

*Breaking: CFTC Closes 5 Year Silver Investigation- No Viable Evidence of Manipulation

*Updated 11pm EST 9/25*
Well, that didn’t take long.  After Andrew Maguire went public last Friday that the CFTC is holding evidence that JP Morgan manipulated the gold and silver markets, moments ago the CFTC announced it is closing its 5 year investigation into silver market manipulation, and that after 5 years of investigation the CFTC has found:

“Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets.”
Something tells us Mr. Chilton won’t be releasing any contrary statements by the end of September as promised either.
Let the manipulation continue indefinitely until the last ounce of physical gold and silver are removed from COMEX vaults! [Read more...]

Ted Butler: Busting the Perfect Crime

What makes the silver (and gold) manipulation the perfect crime are a number of elements; short term price control through High Frequency Trading,  compliant regulators and the fact that most victims don’t even realize they are being had, as the sellers are mostly just reacting to the deliberately-set lower prices. It’s hard to end an ongoing crime in progress when so many don’t realize it is in progress. Worse, there are still some who profess that there is no manipulation underway. And for the few who do realize what’s really going on, what can you do about it when the regulators are in bed with the manipulators? Perhaps the options are limited, but that’s not the same as non-existent.
I believe that an impartial review of the CFTC by the GAO could end the silver manipulation.

 

[Read more...]