Gold & Silver Smashed Through Support on Classic Post-FOMC Raid

fill and killGold and silver have been smashed below support at $1250 and $19 this morning on a classic post-FOMC day raid.
Gold has been smashed $30 to $1237, and silver is down nearly $1 from Wednesday’s trading with a low of $18.93 before bouncing back above $19. [Read more...]

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Taper or No Taper? Discuss the FOMC Statement With The Doc, Eric Dubin, & AGXIIK at SDLive!

Source: Banzai7

Source: Banzai7

Taper or No Taper?  Will the cartel attempt to smash gold & silver below the June 28th lows of $1179 and $18?
SDLive debuts as an Open Interactive Thread for SD readers to discuss the day’s events, Bernanke’s last FOMC Press Conference, and the reaction of the markets.
The Doc, Eric Dubin, and AGXIIK will be covering the news and chatting live from 1:30-3pm EST!

Taper/No Taper Open Thread-your chance to interact directly with The Doc, Eric Dubin, & AGXIIK!

Alasdair Macleod: FOMC, taper talk and the gold price

There is inevitable speculation that tapering might be announced at the FOMC meeting this Wednesday. It should be noted that this is Ben Bernanke’s swansong, and if tapering is to be announced he would probably go out with falling bond markets, falling equities and a soaring dollar, not to mention disruption of emerging market currencies such as the Indian rupee. For this reason perhaps opinion is odds-against tapering, but it doesn’t stop markets being nervous ahead of the event. [Read more...]

Obama to Announce Yellen Fed Nomination Wednesday

YellenThe WSJ is reporting tonight that Obama is set to announce ultra-dove Janet Yellen as Ben Bernanke’s replacement as Fed Chairman(woman) in a Wednesday afternoon press conference.
While gold and silver have not even blinked on the news in overnight Globex/Asian trading, don’t be fooled: a Yellen nomination is MASSIVELY bullish for the metals, as Yellen’s ultra-dovish monetary policy is likely to make Helicopter Ben’s reign look like Ebenezer Scrooge has been running the Fed the past 8 years. [Read more...]

US Fed: “Inflation Running Below The Committee’s Long-Run Objective”

In a release issued today by the Board of Governors of The Federal Reserve System, were details on the Federal Open Market Committee (FOMC) statement following the September 17th-18th meeting.
Within the notes a few key statements on inflation were made, which may provide clues as to the directional “bias” of commodity and share markets this winter & spring.
Bernanke’s Fed indicated that inflation rates are simply not high enough, in that, “Mortgage rates have risen further and fiscal policy is restraining economic growth.  Apart from fluctuations due to changes in energy prices, inflation has been running below the Committee’s longer-run objective, but longer-term inflation expectations have remained stable.” [Read more...]

CIA and The Fed

Within a millisecond of the 2pm release of the September 18, 2013 FOMC Meeting Announcement, the stock market exploded, trading nearly $400 Million worth of stock in a tenth of a second (a blink of an eye is 3 times longer), and almost $1 Billion worth in 2 seconds. Over in Chicago, futures trading also exploded, with about $5 Billion trading in a tenth of a second and more than $10 Billion in 2 seconds. The speed of this reaction stood out in stark contrast to previous FOMC (Federal Open Market Committee) releases. To get a sense of how unusual the September 18 reaction was, we pulled data from the two previous FOMC releases (June 19, 2013, and July 31, 2013) for comparison. It’s hard finding superlatives to describe just how unique September 18 was.
A few articles covering this are focusing on trading in Gold. We singled out gold, is because it was one of the few instruments with high activity in the minutes before the 2pm announcement. This high activity preceeding the release allowed us to verify that the exchange time stamps we used later, were accurate.
It wasn’t just gold. It was everything that traded. In fact, the 1/100th of a second after 2pm was the most active 10 milliseconds in the history of the U.S. Stock an Futures markets. [Read more...]

What Bernanke Did

Bernanke fedWhat Bernanke did Wednesday, Mises Institute’s Peter Klein explains in this excellent clip, was expose that he believes the economy is too fragile to sustain any sort of tapering or scaling back of government stimulus.  What does that tell us?
That the economy is in the early stages of an artificial boom, just like the artificial boom we have been trying to get out of.  Any signs of economic growth or progress that we have experienced since 2008 are solely the result of government stimulus; in other words, more malinvestment.”
Klein presents the Austrian view of what caused the original crisis (Greenspan & Bernanke), and what the effects of no-taper will be on the economy down the road.
Hint: Think Bigger.
[Read more...]

Gold & Silver Weekly Recap: Buffeted By Crosscurrents

At some point, the Fed will either have to put up or shut up.  Talking tapering and then repeatedly not-tapering will only work for so long until they lose credibility.  And I’m not talking about credibility with you or me, I’m talking about the ability for them to move the market through jawboning.  We must judge the market’s view of them by price action; from that viewpoint, they remain credible – although not all markets see things the same way.  The buck was not impressed by Bullard’s October Taper threat, but gold and silver sure were, and the equity market looked relatively concerned as well.  Treasurys remain on the fence.
I hate to say it, but: next Fed meeting 29-30 October-  No press conference. [Read more...]

Janet Yellen: What A Horrifying Choice For Fed Chairman

Are you ready for Janet Yellen?  Wall Street wants her, the mainstream media wants her and it appears that her confirmation would be a slam dunk.  She would be the first woman ever to chair the Federal Reserve, and her philosophy is that a little bit of inflation is actually good for an economyShe was reportedly the architect for many of the unprecedented monetary decisions that Ben Bernanke made during his tenure, and that has many on Wall Street and in the media very excited.  Noting that we “already know that Yellen is on board with Bernanke’s easy money policies”, CNN recently even went so far as to publish a rabidly pro-Yellen article with this stunning headline: “Dear Mr. President: Name Yellen now!“  But after watching what a disaster Bernanke has been, do we really want more of the same?  It doesn’t really matter whether she is a woman, a man, a giant lizard or a robot, the question is whether or not she is going to continue to take us down the path to ruin that Bernanke has taken us.  [Read more...]

Stewart Thomson: Gold Technicals Suggest Dovish Taper

paradigm shiftGold is wealth itself. Whether you are bullish or bearish, there are still key price areas on the “grid” that should be bought and sold.
I’m placing risk capital  based on a scenario where the Fed announces a dovish taper today, and then gold & silver stocks begin a strong rally. [Read more...]


  • Source: Banzai7

    Source: Banzai7

    MOPE taper threats continue

  • Silver instantly plunges below $23, gold plunging towards $1350 
    *Update: Silver has already retraced its entire knee-jerk smash, and after pausing again at $23, is now spiking vertically to the upside

  • Full Fed Minutes are below:
    [Read more...]

Jim Sinclair: QE to Infinity (The USD At .7000 USDX) or Infamy for Bernanke

Bernanke helicopterWhile Obama is busy distancing himself from Bernanke and preparing to give the Fed Chairman the boot and bring in likely Yellen, Dudley, Summers, or Turbo Timmy, legendary gold trader Jim Sinclair states that it is QE to Infinity or Infamy for Bernanke.
Ahead of today’s much anticipated FOMC statement, with rumors of Fed “taper” swirling, is Bernanke and the Fed ready for what is sure to come should the market be convinced the Fed will actually taper down QE? [Read more...]

Watch Bernanke’s Last? Press Conference Live!

Watch LIVE as Bernanke delivers his press conference on the Fed taper QE to infinity continuing for now, in what might be the Chiarman’s last Press Conference before being given the boot this summer by Obama.

Watch LIVE below: [Read more...]

FOMC Minutes Answer Eric Sprott’s Questions Regarding Source of US Gold Exports!

Bernanke-Dimon-Fed-TunnelAhead of today’s FOMC statement (and in light of Eric Sprott’s 2nd installment of Do Western Central Bankers Have Any Gold Left?), we thought it a good time to recall a conversation between Alan Greenspan and others made at a December 1992 FOMC meeting in which key secrets were revealed regarding manipulation of the gold market by Western Central bankers.

As The Doc discussed with Eric Sprott in our recent interview, the US exported $4 billion in gold in December.   Eric pointed out that $4 billion is 2.5 million ounces of gold exported in a single month, when the US produces 8.8 million ounces annually.  Eric asked rhetorically where 2.5 million ounces of gold were coming from.
Courtesy Former Chairman Alan Greenspan and the minutes from a Dec 1992 FOMC meeting, we just may have the answer for Mr. Sprott… [Read more...]