In this week’s SD Weekly Metals & Markets, The Doc & Eric Dubin discuss:
- Non-Farm Payrolls Release: Metals smashed, per usual but…
– Trading across multiple markets suggests skepticism about potential early tapering
– Swiss refinery conditions debunk illusion of weak market painted by paper trading
– China Air Defense Zone over Senkaku Islands: Geostrategic imperative behind China’s position
The latest Metals & Markets with The Doc & Eric Dubin is below: [Read more...]
Precious Metals Mining Company Managers: Your Job Includes Defending Your Industry Against Market Manipulation
It’s high time to create a new industry trade organization.
For less than $50,000 GATA sued the Federal Reserve in a freedom-of-information case and won. While that was not a market-manipulation case per se, Mr. Powell notes it “…demonstrated market manipulation and the monetary metals mining industry did nothing to publicize it and didn’t even complain about what was proved. And while $50,000 was a huge amount to little GATA, many mining companies could squeeze that much out of their tailings pile in a few days if they were so inclined.”
A small number of mining industry executives have the wisdom and testicular fortitude to support GATA. The rest of the industry should be shamed for their indifference and, in some cases, fear of speaking out. Shareholders should demand support of GATA and the creation of a new trade organization truly dedicated to advancing the interests of the entire precious metals mining industry. [Read more...]
I took one look at this morning’s silver trade and just shook my head. Here for the entire world to see are the footsteps of algorithm trading capping the upside.
The capping job shows the cartel is active, and the algo pattern signals to traders with eyes to see that the cartel is expressing its influence. This silver signal has a high correlation to subsequent cartel actions.
The gold cartel is setting up to smash both silver and gold over the rest of this week, when holiday trading brings very thin volume. THAT is what whomever setting this silver algo program this morning is telegraphing.
Hey, did the actor Bill Murray body-swap for IMF spokesman, Bill Murray? The latter issued some mildly amusing statements worthy of his gofer-blasting Hollywood counterpart.
Last month the IMF released its monthly journal, “Fiscal Monitor.” The October issue focused on the subject of taxes and debt burdens worldwide. You can access the report in all its 107 page glory by clicking here. The report included analysis of a wealth tax among policy options to reduce public debt burdens. Apparently, as reportage spread, IMF feathers were ruffled.
“We’re not recommending a wealth tax, it’s an analytical work,” IMF spokesman Bill Murray noted at a news conference. “That’s a staff analysis suggestion… it’s not a policy statement from the Fund,” he said. [Read more...]
Failure to address precious metals market manipulation is your true legacy, Mr Chilton. Position limits by themselves fix nothing. To your credit, you did make the space for GATA’s Bill Murphy to introduce critical testimony to the CFTC during a 2010 publicly broadcast hearing. But that’s the only thing we can objectively point to suggesting your job performance wasn’t just another example of a spineless regulator captured by the industries he is supposed to regulate.
But it’s not to late, Mr. Chilton. You can still become a whistle-blower. [Read more...]
Metals & Markets With Alasdair Macleod: “Swiss Refiners Working 24/7 Producing Kilo Bars Headed to China”
On this week’s SD Weekly Metals & Markets, gold expert Alasdair Macleod joins The Doc & Eric Dubin to discuss:
- QEternity: Indications of a renewed bias of global monetary easing
- Negative GOFO rates continue, physical gold supply tightening again
- Bond market implications of the Federal Reserve as bond “buyer of last resort”- how much longer can the Fed maintain control of interest rates?
- China’s golden global hoover: China’s intentions vis-à-vis the US Dollar as reserve and trade settlement currency and how gold fits into China’s strategy
- Alasdair provides an inside look at a Swiss refiner: “They are working 24 hours a day, 7 days a week turning every ounce of gold they see into 1 kilo bars headed to China“. [Read more...]
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.