Quote:*UPDATED with TD Ameritrade Volume
We reported a few minutes ago on the gold & silver raid in progress. The cartel raids have now smashed gold over $82 from $1788 to $1706, and silver close to $4 (10%!!) from $37.62 to $33.68. Also notice the classic mini-parabolic moves to the upside immediately prior to the raid- absolutely CLASSIC CARTEL ACTION!
The raid began at exactly at 10:00am EST coinciding with the Fed's release of its monetary policy statement to the House Financial Services Committee.
For those who claim these immediate waterfall gap-downs in both metals were as a result of Bernanke's dissapointment in no further QE, please realize this occurred exactly as the full report was released, and note the massive paper volume of 225 MILLION OUNCES OF PAPER SILVER OVER 30 MINUTES used to smash gold by $65 and silver by $2!:
NetDania, while a spot chart- obtains their volumes from futures volumes, and displays the smash visibly the best. BrotherJohnF just published a NetDania screen shot demonstrating a volume of over 20,000 contracts, or 225 MILLION OUNCES of paper silver sold over 30 minutes.
Lest you think this is merely another 'data glitch' by NetDania, here is the action and volume from TD Ameritrade:
As mentioned above, notice the mini-parabolic up-move in silver immediately prior to massive raid to draw in new suckers (longs) to add firepower to the smash as they are forced to puke their positions moments later as stop-losses are taken out.
Live 24 hours silver chart [ Kitco Inc. ]
And in gold:
Live 24 hours gold chart [Kitco Inc.]
Now we know why the cartel stepped back and allowed gold and silver to run higher through significant resistance points over the past 3 days- they have been waiting to coincide their smash with the release of the Fed's policy statement, in a weak attempt to use the Fed statement as cover for their massive raid and paper manipulation of the gold and silver market.
Astrochik seeking the truth - good or bad User ID: 55237 02-29-2012 10:00 PM
RE: Cartel Dumps 225 Million Ounces of Paper Silver Over 30 Minutes As Gold, Silver Raide
On the other side of the coin<==(intentional lol), if you OWN LABOR, and have access to Capital you are still a captive to demand, but labor can be more stable.
I think we are moving into a time when stability is going to be important. Meaning I think we are at a peak in metal (in a macro sense) and looking at a large Trough due to demand "drying up".
Simple supply/demand as well as the world economic condition.
I think the paper profit time for the Holders is comming "close to" a close.
Hagglemasters will abound in the final final time.<==(if we are lucky, and do not face a total collapse, which is "possible") We are not there yet, but the bulk of the roadway is behind us.
If you are Holding Metal, you may be quickly adjusted in your Net Worth based on demand sliding off quickly.
^^^^^Metal Doom (or) Common Sense, You Decide^^^^^
I had to raise some cash yesterday and sold a few ozs of gold at Heritage in Dallas. No premiums even on MS 65 Saints. HA claimed physical demand has dried up recently, no buyers just sellers. This is what the banksters do, they are going to starve the weak hands of cash FRN's and manipulate the POG & POS so they can grab it all for themselves. I hold pm's as insurance and i don't lose any sleep over paying my Homeowners, Auto, Life, Health, or any other insurance I have to buy and renew each year. My $7.00 silver is safe and my $300.00 gold is not going anywhere and I don't lose sleep over the games banksters play.
Cash is going to be King for a while but take heart we are all going to be paper billionaires and probably pretty soon.
Astrochik seeking the truth - good or bad User ID: 55237 02-29-2012 10:44 PM
I was bitten with the BB bug for a while, that and the Chevron gasoline toy cars. After putting too much cash into them both I realized that the phenomenon catered to our basic addictive/collector tendencies, the investment facet was only part of it and I decided to 'detox' from the 'habit'.
PMs were top commodity thousands of years ago, and continue into today. A wise person will have invested a reasonable amount of their wealth into such liquid assets that can be used the world 'round in nearly every situation, nation and society, in times of trouble.
I agree with you that it is a risky business to 'put all your investment eggs in one basket', however, by stockpiling PMs without diversifying your survival 'portfolio'.
Navion2 Banned User ID: 10038 03-01-2012 05:15 AM
Ron Paul starts at 1 minute in this video - the Silver Eagle ounce is taken out by Ron Paul at the 2:45 minute mark. Says the one ounce in 2006 would buy 4 gallons of gas, today it buys 11 gallons of gas. It is what is holding people's wealth, not fiat currency. Ron Paul has Bernanke admit Silver IS money at the 5 minute mark. Bernanke says "Gold and Silver, are another currency!"...."
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