Monday, December 20, 2010

Another Oldie But Goodie

10:45 pm EST update:
This was just posted on ZH a few minutes ago. If you haven't read it, you must do so now. Our frequent commenter, Cris, is going to love this one:
http://www.zerohedge.com/article/jp-morgan-shifting-its-silver-and-gold-shorts-non-us-domiciled-and-thus-unregulatable-banks
I cautioned last week that the whole JPM-out-of-silver story was bogus. Unfortunately, its quite obvious now that I was right.
http://tfmetalsreport.blogspot.com/2010/12/not-buyin-it.html
The criminal Evil Empire will stop at nothing to please their despotic, soulless masters at The Fed. Our fight is ongoing but we will win. Truth is on our side.


I was sifting through some files this afternoon and I found this report from last summer. Note that it is dated July 23, 2010. That evening, Feb11 gold closed at $1193. In fact, it was just a few days away from making a corrective bottom at $1163. This correction reached almost 9% so Mr. Embry was being quite bold when he issued this report. With the benefit of five months of hindsight, he now appears not only bold but amazingly prescient.

http://www.sprott.com/Docs/InvestorsDigest/2010/06_23_2010%20Gold%27s%20on%20the%20cusp%20of%20a%20parabolic%20move%20up.pdf

Harvey had an abbreviated post tonight. Here's the main thing you need to see:


"All I can say is that the silver comex is showing signs of panic. 
The total silver comex open interest surprisingly rose by 954 contracts to 131,819 from Friday's level of 130,865.  This reading is basis Friday as open interest is always one day back.
If you recall, silver, even though this metal was punished as the CME raised margins, it bucked all downward momentum to register gains at the conclusion of trading. Most of Friday's gains occurred at 1 pm to 1:30 pm.  Today, the banking cartel out of sheer desperation tried again to shake the silver leaves from the Comex tree and failed again!!" 

Be sure to scroll down today's other posts if you haven't already. Lots of good stuff there. Thanks! TF

25 comments:

  1. Hey Burt Reynolds (SNL): Are you still thinking about the "out of the money" option trade? It was an idea that you were thinking about last week.

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  2. Something just happened....first price then the news.

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  3. USDX down through 80.5 quickly. Will it stay down this time? Yes, price first, waiting for news

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  4. EE has been hitting us every day since Tues. They are trying harder than ever, seeming to be more desperate. Seems like the 30/1400 is either the psychological or arithmetic line in the sand. Break through that and I don't think there is any meaningful resistance that they can muster.

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  5. Not to sound like I have any expert advice to give, but if I was Blythe I would change my tactic tomorrow. I mean they know if they dip it at the scheduled time that the BoS will scoop in again and buy right? Seems like that happened today. So I think the Blythe will lure them in with a small head fake, trigger the algorithms of the BoS to buy and then old Blythe will short the hell out of it minutes before the close to end on a low note. Then trot out their media cohorts to say the sky is falling etc...

    But what do I know, I'm just a dumb hick from Texas. Have a good night all.

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  6. An invisible enemy at the gate?

    http://www.zerohedge.com/article/jp-morgan-shifting-its-silver-and-gold-shorts-non-us-domiciled-and-thus-unregulatable-banks

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  7. Hey dd,

    The comex is a US thing though right? So if the other kiddies want to come play can't the CFTC say if you want to play in our playground here are the rules? I ask because I don't have a firm grasp of all the fundamentals of how those regulatory agencies are suppose to function.

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  8. Nathan: The position limits that are in the new LAW are applied to US banks only.

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  9. Bummer, at least the manipulators will be forced to move it across the pond I guess. Who do you think the likely accomplice will be deutsche bank?

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  10. http://www.sprott.com/Docs/InvestorsDigest/2010/MPLID_112610_pg401Emb.pdf

    Turd have you seen this update from John Embry yet? Not sure how it's dated 12/26/10 but whatever. Still a good read.

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  11. Oh and I figured they would either move it across seas, or spread it out amongst different firms to beat out the new position limits. There is always a way to beat a corrupt system. The struggle continues.

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  12. This doesn't change anything really. We all knew that JPM was just acting under instructions. Now they are being allowed to share around the dirty work. Turd might just need to add a few words to his definition of EE:

    The EE: Is, of course, The Evil Empire. The EE consists of the evil, colluding consortium of "bullion banks" that, at the behest of the Federal Reserve, actively suppress the prices of gold and silver through methods such as the seemingly endless creation of paper metal and "offer bunching". The primary, co-conspirators are HSBC and JPM AND ONE OR MORE UNIDENTIFIED FOREIGN BANKS.

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  13. The market itself
    will unwind the manipulation and it doesn’t matter what the CFTC attempts
    to do to mitigate the situation or it does to try to bail out the cartel .The EE will get what it deserves in the very near future ,and i for one can't wait

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  14. Wow, Chris, that new Embry article is great. Kind of sounds like Turd, himself. Wait. Could Turd be Embry? Could Embry be Turd? Has anyone ever seen them together in that same room?

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  15. Position limits only apply to US Banks?

    Then they are a joke, as is the CFTC.

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  16. Since Turd and almost everybody else might have just gone to bed for some much deserved rest, could I be "Turd for a Day"? Oh good!
    Nathan: Deutsche bank? It's spelled douche.
    Chris: If you want to go places, overseas or otherwise, then a great big colorful hat, a catchy name, a willingness to help others, extensive knowledge in a complicated area, and common horse sense work wonders. So change your name to Itchy Yass, put on a big bright hat, and you've got the others covered.
    GG and Robert: In the final days of Wiemar Germany you could buy a house with a single one oz gold coin. That has already come to America, with some houses in Detroit being listed for about $1,500.00.
    Sammy: You're absolutely right, nobody has ever seen Embry and Turd together in the same room. But then again, nobody has ever seen Superman and Scratchy Yass together in the same room either.
    Jack: Position limits? I'd like to show Blythe Masters a number of positions with no limits.
    All: OK, time is up on "Turd for a Day". To all a good night!

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  17. Gold and Silver (and Copper, Crude Oil, S&P 500, Russell 2000) are up in the futures market

    It looks like we might have a very good day!

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  18. Smells like another Takedown Tuesday...

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  19. Damn it! I was going to sneak a little short in for 9am but I had to go and finish my Christmas shopping and didn't get back in time. It's becoming the only quick trade worth taking. Anyone else doing this? Tips if so?

    There's always tomorrow. And, well, every day it seems...

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  20. EE's foundation beginning to crumble.

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  21. The fucking audacity of dong this at the same time every single fucking day is breathtaking. Blythe simply giving the finger to the CFTC.

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  22. Ahahaha she's like "yea bitch, I do what I want!" Now everyone remember, take a deep breath and repeat after me. JP Morgan IS the fed. Which is why we have to put ALL those fuckers out of business. These dips in the morning have made great buying opportunities on the daily. But you figure our daily rallies would be a positive .50 instead of just a measly .20 :/

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  23. How predictable they are ... the referenced post was posted a few hours earlier!
    http://marketcyclesresearch.blogspot.com/2010/12/white-witch-blythe-does-it-again.html

    As there are 4 links to this blog, and I cross post at kitco and goldtent - Turd should have quite a jump of hits today!

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  24. The EE's blatant actions is doing nothing more than further compressing the coil. The pressure is mounting and you can feel it with every tick. The next grand move it higher.

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