The price of gold was remarkably smashed $35 in the space of 60 seconds at 10:14 a.m. NY time Monday morning12,000 contracts hit the market almost all at once.  To put this size in context, on Friday a little over 107,000 Feb contracts traded during the entire 23 hour Globex system session.  In other words, Monday at 10:14 a.m., a little over 11% of Friday’s total volume traded in the space of  1/1380 th of the entire Globex session for a given period.
The hit came from nowhere and halted a strong rally in the price of gold that began last night in Asia.
This is the unmistakable sign of desperationDesperation to keep a lid on the price of gold in an attempt to make the public believe that everything is ok in this country and with the U.S. dollar.  But we all know otherwise…

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By PM Fund Manager Dave Kranzler, Truth in Gold:

Forget the myths that the media’s created about the Fed.  The truth is, these are not very bright guys and things got out of hand. Follow the money…just follow the money.  – My paraphrase of “Deep Throat” from “All The President’s Men”

The price of gold was remarkably smashed $35 in the space of 60 seconds at 10:14 a.m. NY time Monday morning.  12,000 contracts hit the market almost all at once.  To put this size in context, on Friday a little over 107,000 Feb contracts traded during the entire 23 hour Globex system session.  In other words, Monday at 10:14 a.m., a little over 11% of Friday’s total volume traded in the space of  1/1380 th of the entire Globex session for a given period.

The hit came from nowhere and halted a strong rally in the price of gold that began last night in Asia.  Concurrently, the dollar was selling off hard, as was the S&P 500.  There was no apparent news or event that would have triggered the price smash:


The price of gold as write this has since recovered about 90% of the price hitSilver, which was giving all indications of behaving like a runaway freight train before the hit, has recovered about 2/3 of its price-ambush.
Mere manipulation by desperate criminals?  
This is the unmistakable sign of desperation.  Desperation to keep a lid on the price of gold in an attempt to make the public believe that everything is ok in this country and with the U.S. dollar.  But we all know otherwise…

I have no doubt that the hit was used by JP Morgan to get more long Comex gold futures and to induce a flood of GLD share selling.  The GLD shares will be turned into the GLD Trust either today or tomorrow and used to remove more gold.  I bet within the next couple of days, today inclusive, we’ll see a large withdrawal of gold from the GLD Trust.  For the record, selling of GLD shares does not trigger the removal of gold  Gold can only be removed by the banks who exchange shares for gold.

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  1. Bitcoin – a product of the Federal Reserve.
    Only the blind can not see it.

    Dollar discredited itself in the eyes of the public. The Fed also discredited itself in the eyes of the public.
    Of course for Fed was needed make a legend about some Satoshi, buyout supposedly created Bitcoin, and then he is evaporated.

    Thus, the Fed shows for fools (which the majority) that Bitcoin – a system that “does not belong to anyone,” and “no one is controlled”.

    But this is absurd. In the world there are no financial assets and payment systems that have no owner.

    All that is in front of the prefix “The global World or International” – it is the property of the United States. Or controlled by the United States.
    Everything else – the local and minor.

    Federal Reserve no longer need gold. Now they have a Bitcoin. As soon ends era the first fiat money – the U.S. dollar, immediately begin the era of other fiat money under the control of the Fed – it will Bitcoin.

    Bitcoin system has a limit of coins. But Bitcoin system has no limit fragmentation of these coins.
    Crushing coins Bitcoin to infinity – it’s the same exact Monetary Emission, like printing FRN.

    • There’s no question about it that Bitcoin has some powerful and well funded sources pushing up the price and promoting.  You can view a lengthy crypto currency list at CoinEx website which shows the current exchange rates:
      There must be 50 different crypto currencies on the exchange.  I believe it’s obvious that Bitcoin is an experiment where the big players and promoters remain hidden just like those which continue to sell massive amounts of silver / gold shorts on the COMEX.  Bitcoin was not the first crypto currency and the question remains why did it go up to such an absurd level if there was no heavy hand behind the curtains pulling the strings.

    • BTC flows into China at a much higher per capita rate than the U$A… 
      Even after all the so called “negative press” in China. 
      I also saw a positive Russian review of BTC, can’t remember what it was. 
      I never have heard that Russia was against BTC, do you have any links? 
      PS: The Chinese slant seems more towards managing the expansion of BTC 
      rather than banning it. I read the press release, on a Chinese site, translated  ;)


  2. All of these people have nailed some tough calls before and all of them are stating something big happens in 2014 regarding gold prices:
    Precious Metal Pete – Gold revaluation nears.  He thought it would happen before end of 2013. Paper market needs to plunge below $1,000 before any revaluation will happen.
    Gerald Celente – Expects by mid-year the FED will need to ramp back up QE which will eventually propel gold above $2,000 and it could go much, much higher.
    John Williams (Shadowstats) – Breakout of hyperinflation signs most likely by mid-2014.  90% chance by end of 2014.  It won’t matter if you bought gold at $1,200, $1,900 or $5,000 as long as you have the physical asset.
    Turd – gets posted quite a big on SD and very bullish on gold for 2014. 
    It should get interesting in a few months!

    • Nice! 
      Now I know Gerald Celente somewhat, (of Dumfukistan, LOL)  and everyone knows TF, 
      is John Williams usually a PM prognosticator? And how good is PM Pete’s record??? 
      Seems some HEAVY HITTERS are coming together on a time frame to me!

  3. And over at Mish’s board he still won’t recognize this type of activity (blatant manipulation) as anything more than “normal trading” and that the gold and silver bulls are just paranoid freaks and idiots who make shit up when PM’s get slammed by non for profit sellers (massive paper dumps).
    You should read some comments over there sometime if you need a good laugh at the sheer lunacy still dominating the airwaves of the MSM and blogosphere.

  4. This is a gift to the stackers, I would rather be paying $20 than $40………
    The real value will be realized in short order. I just hope it’s not too short because I am not done buying yet.
    Paper games are allowing us to get into a larger position along with the Chinese. Truth will out.

  5. One of the main objectives of Bitcoin – it distract investors from investing in gold and silver.
    Bitcoin today is the main enemy of the PMs and the main instrument of the Fed for to suppress the price of PMs.

    • There are now 2 (TWO!) PM sellers that accept BITCOIN! 
      That is how I propose to cash out  ;) 
      But then again, I have a plan. Very few do, and fewer still understand. 

    • @Silvermail
      PS: Here’s a list of 9 (nine) retailers that accept BTC for PMs! 

      I think that last one is actually GOLDMONEY, the one we are familiar with?
      Actually, It’s not. GoldMoney is looking into accepting BitCoin NOW. James Turk
      is investing into BTC, here’s a link:

      Keiser Report: James Turk from Gold/Money is now a bitcoiner … r/ Bitcoin/ comments/ 1ue8i0/ keiser_report_james_turk_from_goldmoney_is_now_a/ –

      Jan 4, 2014 … You can also explore the Bitcoin Wiki: …
      if he puts the effort into bitcoin that they put into goldmoney, they are going to add a lot of value!

      I fixed the post above, it had links instead of just names.
      No intention of advertising! In fact, YOU should be #1 on this list ;)
      If you carry BTC portability, I will buy all my BTC conversions @SDBullion! :D

  6. One of the columns Harvey O put up tonight was courtesy of Dave Kranzler/the GoldenTruth.
    an excerpt:
    “In the last two days, 26+ tonnes was delivered on the Shanghai Gold Exchange.  The enormous physical off-take in China is a freight train w/out brakes.
    The manipulation in the gold market is getting worse by the day as the demand for physical gold from the eastern hemisphere begins to accelerate. It looks like the western Central Banks and their bullion bank market agents are going to work on silver with more focus.  SLV is starting to see physical drawdowns, as is the Comex.  The capping in silver is beyond blatant.   Turkey imported a record amount of silver last year, as did India..  India’s demand for silver is the substitution of the gold that was cut off by the U.S. Government-induced Indian import controls.

    Make no mistake about it.  In the face of China’s moves to move away from the U.S. dollar and bolster their own currency with an historically epochal program of systemic physical gold accumulation,  the U.S Government and the Fed are waging a nuclear currency war with a war on the physical gold market at its nexus.  Anyone who asserts that it is any less than that is a complete coward.”
    I’d say the gloves are coming off on both sides. 

    • In 2011 I read an article that dared to speak of the fall of the dollar.  PM’s were peaking, Euro was in shambles, and the U.S. had a debt lock.  Then, as PM’s were gaining traction, there was a Fed meeting, and PM’s got slammed! HARD.  6 months later, during a Fed meeting it happened again.  Then 3 months later it happened again, and again, and again, then it was happening every month during Fed announcements….and now its happening monthly or quicker WITHOUT ANY ANNOUNCEMENT.
      Whats happening is clear as purified water… the metals are selling FAST and their value is climbing EXPONENTIALLY.  This is requiring “take downs” more, and more frequently in order to maintain control.  Today?  They CANNOT wait for a Fed report!  It’s all so coiled up it makes my stomach knot up!!  Just knowing that an explosion and meltdown is imminent and around the corner turns my stomach!  The poor common man, uneducated in economics, working at the bottling factory, too busy working, feeding the kids, and relieving his anxiety over the economy by buying a 12 pak every night and watching MSM stroke him and his neighbors about how things are getting better…. it’s all sickening!  It’s all at our doorstep…. here…today!!!
      Where did last year go?  I do not know…. but in its passing we came closer to the inevitable, and the communist solidified their financial pieces.  A year passes FAST!  If the dogs of depression do not come scratching at your door tomorrow, or next month, don’t you DARE think that they are not nearby!  A year passes quickly….and the dogs are on the run!
      They’ll reach our homes…..too soon.

    • Shamus…passionate post like that deserves a nod; Can’t let it pass without one…your words ring true just as those of Holter and Kransler, AG and Conax, and many others.
      For whatever it’s worth, I’ve become aware recently that some eyes/minds around me are waking….more than a couple fist fulls…..find this very encouraging…  

    • @Shamus001
      I agree and want to add that these price smashes are occurring more often but to less effect these days.  Paper price smashing worked wonderfully well a few years ago but has since fallen on hard times.  It now take much more paper to cause a much small effect that lasts for a shorter time period.  I don’t know how that would look on a chart but suspect that it would very much resemble a classic diminishing returns scenario.  When prices were smashed a few years ago, all of the traders would back on, lick their wounds, and then invest in something else more likely to make money.  These days, eager buyers rush in as prices fall, quickly putting a solid floor under the descending prices.  Yes, they can still cause temporary price dips but buyers, especially those in Asia, are buying metals hand over fist on any price weakness.  It is highly likely that the results obtained by these price smashes have done about all they can for those who employ this tactic.  It makes me wonder just how much longer they will keep at it before running up the white flag.

  7. Now I’m really starting to wonder about Bitcoin.   I hardly have any stack left as I helped my daughter purchase a home.  To qualify as a co signer, I had to ‘prove’ my worthness as I was unemployed (retired) and showed a small bank account.  So you show them physically what you have.  ‘Sure that’s looks good, no problem.’ Well it became a problem of proof when I exchanged it for cash for the DP.  All kinds  of questions about ownership, source, reason for, how long have you had it, why etc etc.  It was a good thing I found an obscure receipt  which gave the weights and PM description.  Without that scribbily piece of paper, I think we would have been screwed.
    Which leads me to peak price and/or SHTF event.   If some one wants to sell at a future time, the current paper money or system is not an alternative IMO.    When we were kids we played or fought by a set of agreed rules.  I can not imagine that the PTB are sitting idle waiting for the SHTF.   There has to be nefarious plans afoot like Bitcoin (as alluded above) for example to further screw up the lives of the PM holders.  Just as the finance company made it difficult for me to purchase a home, the sellout rush could lead to what….the current strongest currency, trades, property, or regulated, manipulated bitcoin.   Forward to a new SHTF.
    I’m not trashing Bitcoin.  I know very little about it.   But it looks suspicious to me. 

  8. Shamus 001 I agree with 4oz Two thumbs up. The history of government is the history of deception. What’s taught in schools is the history of government’s deception againsts its adversaries. The history of government deception against allies and particularly the people is NEVER taught in school. That one is taught in the school of hard knocks and the reach of polticians into the pockets of the people
    Stay frosty shamus. cheers

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