The Smoking Gun - Evidence of Manipulation in the Gold and Silver Markets
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http://news.silverseek.com/TedButler/1219417468.php
Type of Content: Article ". . . The recent widespread shortage of silver for retail purchase coupled with a price collapse appears to have shaken these analysts’ confidence that the COMEX silver market is operating ‘fair and square.’ Well it should, since there is no rational explanation for a significant price decline going hand in hand with product shortages other than collusive manipulation." Read »
Created 11 weeks 6 days ago
Made popular 11 weeks 6 days ago |
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To a certain extent, I think we are all arguing across purposes. Ken's technical analysis has been correct - that is just stating the obvious. The technical analysis attempts to predict where the price is going to go, whether it goes there by natural market forces or manipulation. So, Ken and the manipulation camp can both be correct.
For what it's worth, Monex is also saying that all of the selling of metals that they are seeing is forced selling - people that bought on margins being forced to cover. They actually said that there is almost no voluntary selling, and actually a lot of voluntary buying. I am also no long-term conspiracy guy, but I said at the beginning of the year that commodities would come under attack in the months running up to the election by agents that CAN move the markets for short periods. There have already been articles by "respected" news outlets (like WSJ, etc) that central banks around the world are artificially propping up the U.S. dollar - China has actually raised its reserve requirement to 15%! At this pace, they will no longer be fractional reserve in 10 years. LOL! The catch is that their banks have to hold the additional reserves in U.S. dollars. That is helping the attack on commodities, and I have no doubt that the Fed and its black helicopter companies are also dumping a bunch of paper on the market to drive this price down. Anti War.com says that the U.S. is planning a "September Surprise" on Iran, just before the elections - they cite a news story about a Dutch covert operation that pulled out of Iran when they got wind of the imminent strike. I have also said more than once that the strike on Iran will come when oil gets down near 105. It's there. I hope that I'm wrong.
If I were attempting to trade - make money on short term moves on commodities - then I would be listening hard to Ken's advice on these moves. He's proved he knows what he's doing. However, those are shark infested waters and I'm just betting long term against the U.S. dollar. I bought some gold around $880 and I plan on holding it long past this election and the ensuing Depression. Same with oil for me. Right now, everything I predicted regarding the timing of a commodity hit with the elections seems to be correct as well. It could just be a coincidence.
Tom Mullen
www.tommullen.net
www.myspace.com/skepticsongs
"Question with boldness even the existence of a God" - Thomas Jefferson
make money buy my service.
I got news for everyone.. there isn't a single service out there that is worth the coin you pay.
Tell you what... just ask me .. I'll give the advice for FREE just as I did when forecasting the plunge in gold and oil... If you followed my technical analysis here.
http://www.breakthematrix.com/Economy/What-happened-to-1000-Gold
you would have made a tidy little sum.
Gold will fall to $760-765 before the week is out.
I'm three days late.... I can't be completely correct on all my calls :)
Look out below
http://www.breakthematrix.com/Economy/What-happened-to-1000-Gold#comment...
Good article here
What I am looking for in an adviser, and what I presume most investors are too, is someone who can accurately and objectively assess the world as it is and, after taking all relevant factors into account, make a profitable forecast about what is going to happen. Part of that world is the possible existence of conspiracies, including governments and central banks that might want gold to decline.
problem with this video is that he presents NOTHING to support markets to move higher outside of more manipulation theories and the claims that he doesn't see a lot of silver bullion for sale... Then shamelessly plugs some websites.
This ain't enough to drive a market my friend. He briefly mentions that he doesn't have the charts but i see that as no more than evading just how ugly the charts look.
BTW... The US Mint has resumed coin sales after what I believe was less than a one week suspension when the price of gold was plunging.. not a dumb move by the mint.. and I wish someone would explain just how suspending sales supports a plunging price? more crazy theories I have heard from these people that make no sense at all.
doesn't support a plunging price, it supports a rising price. Because suspending sales limits the supply - thereby increasing the ratio of demand- which should increase the price.
Yes, this may be oversimplified --- but would you mind explaining what is really happening then?
there was a bump after the suspension... but I wouldn't look at that as a guide to determine where the price is going.
One small article that supported my analysis..
http://www.safehaven.com/article-10566.htm
Make your point so I can answer your question...
And as so far as me getting negative numbers I wouldn't mind hearing from those that are active traders such as myself... or is it the case that those who vote down and believe this nonsense aren't active in the markets? hmmm
Interesting how I have been almost 100% correct in my analysis and yet no one has been able to come up with anything more than crazy theories of manipulation to counter it.
I could take up a few pages here explaining in detail how you are all wrong, just as I did when I was calling for Gold and Oil to plummet.. yet honestly, I don't think I will bother wasting my time posting such things any longer, to people who just don't understand how the markets work and are to brain dead to the facts.
of demand and a shortage of supply, yet prices are going down..... please explain
Adam... There "seems" to be a shortage... one small snippet of ten's of reasons for the price to move up or down... "seems" isn't enough to move or shape the market.
As I had pointed out in many of my postings on gold and oil.. there were many factors that led to these declines.. I tried to explain this all in detail, but I could only assume that this is just way to much information for many to consume and understand. It ain't as easy as manipulation... It is very complex.
When speculators make a huge short bet that the price of silver and gold will fall and end up being correct it is manipulation. Yet when speculators place huge short bets that oil will fall as was the case in recent months and the price goes 10-15% higher it's the free market at work.
Or when gold went from $680 to $1030 and oil from $75 to $145 in seven months this was the free market at work... right? how come this isn't considered manipulation? how come it is only manipulation when it doesn't go the way you think it should ... because it should be going higher. right? lol
Get over it people... as long as you continue to believe theories of manipulation... you will always be on the losing side.
I was one that correctly predicted these drops and my analysis for this conclusion had absolutely nothing to do with manipulation and everything to do with detailed fundamental and technical analysis.
Oh wait... Cramer says things are manipulated,, that should be proof in itself... lol
Ken, why wouldn't markets be manipulated for profit? Isn't it somewhat natural to assume that those with the means to do so will skirt what is lawful behavior in a free market in order to make tons of money? I guess I've always assumed that this really is just one big game of Monopoly.
I get what you're saying about the inconsistencies in reasoning, whether movements in markets are labeled manipulation or the free market at work, but I wouldn't be too quick to conclude that my technical analysis was correct simply because the market moved in my favor! But I'm curious what your analysis says and whether you believe metals are over priced or fairly priced at these levels and why.
And a question to others out there, why aren't more of you treating this pull back in silver and gold as a buying opportunity, especially since most people on this site I assume, are long on precious metals as a hedge against increasing inflation for obvious reasons, I won't beat a dead horse here.
I'm still selling dollars for gold and silver (mostly just silver :))and I welcome any further "manipulation"
- Danny
"You're neither right nor wrong because other people agree with you. You're right because your facts are right and your reasoning is right—and that's the only thing that makes you right. And if your facts and reasoning are right, you don't have to worry about anybody else."
- W. Buffett
many call manipulation is probably commonly know as an overcrowded trade. It could be easily said that some saw these declines (as I did) as imminent and made huge gambles and won. Ya know... this happens on the long side too... and generally ends up bursting.. oh wait, is this what is happening?
If the silver market was excessively short and had absolutely no reason to go up do to a slowing world economy, the end of the interest rate cuts, previous excessive long side speculation and technical analysis that just looked waaaay overbought, just to name a few things, then just why should it continue higher?
Too many who are biased to one side and when it doesn't go there way,.. cry manipulation.
I agree that those who are complaining about the drop should be very happy to be buying at these lower levels if they feel that metals will still go much higher.
I do not believe this is the case though, I do not have a crystal ball and cannot see that far into the future... I can generally see short term trends developing (daily to maybe 3-6 months out) but to look beyond that is a fools game. I have posted many times that if this country doesn't get its act together that when it all ends will end very badly and NOTHING will be safe.
As far as near term pricing on gold I have been saying that $790-800 was the short term target with $660-670 being a longer term target... given the state of things I would say that is fair value.
http://www.breakthematrix.com/Economy/What-happened-to-1000-Gold
and this would also fall into my targeted price of oil under $100 by yrs end and back to $70-80 bbl next year.
http://www.breakthematrix.com/node/8674
On top of it all equities appear to be setting up for what could be a substantial move higher. This all kinda fits into the bigger picture of things... regardless of what is going on in the banking system.
PS: Oil this AM now at $108... damn manipulators at it again... lol :)
supply and demand?
In the long or short run? Makes a bit of difference!
"In the long run we are all dead"
- John Maynard Keynes