If You Can’t Beat ‘Em, Join ‘Em

By Craig Hemke – Re-Blogged From Gold Eagle

Suddenly it seems that nearly all of The Banks and Bullion Banks are raising price forecasts and rallying around the precious metals. Is this a good thing or a bad thing?

That’s the question, of course. Banks like Goldman Sachs have earned a reputation for leading their clients into taking the opposite side of whichever trade the firm prefers. If you’ve forgotten the origin of this story, here’s a link from 2012:

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Long Live Howard Beale

By Michael Ballanger – Re-Blogged From Gold Eagle

Sector expert dissects recent Fed and other government actions and discusses his recent precious metals trades.

In the 1976 movie “Network,” British actor Peter Finch won an Academy Award for his stunning portrayal of news anchorman Howard Beale, whose on-air descent into insanity, prompted by the social and economic conditions of the times, is now legendary. The iconic scene where Beale, clad in a rumpled raincoat and with wet hair plastered to his head, goes on national TV and implores watchers to go to their windows and scream “I’m mad as hell and not going to take this anymore!” is one of the most awe-inspiring scenes in the history of filmmaking. Should you wish to watch the scene for yourselves, the link can be found here.

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The Plunge Protection Team, The Fed And The Investor Costs

The “Plunge Protection Team” is the colloquial name for the Working Group on Financial Markets (WGFM). The Working Group was established by the executive order of President Reagan in 1988, in the aftermath of the stock market plunge of October, 1987.

The group reports to the President, and the official members of the group include the Secretary of the Treasury, the chairman of the Federal Reserve, the chairman of the SEC, and the chairman of the CFTC. In other words, the group members are the four most powerful financial officials in the United States. In practice, the committee can be composed of senior aides and officials that have been designated by those top officials.

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Silver Price Scandal

By Ted Butler – Re-Blogged From Silver Phoenix

A few follow up comments about the still rather remarkable announcement by the Department of Justice concerning the guilty plea by the former JPMorgan trader for spoofing in precious metals. Contained in the announcement was the statement that the guilty plea was accepted and sealed on Oct 9, nearly a month before it was unsealed on Nov 6. With a rather short sentencing date approaching on Dec 19, and the time it took to unseal the plea, it may be assumed that the trader has already fully cooperated in the hopes of reducing his jail time, said to approach 30 years with no cooperation.

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Sure, There Is No Manipulation

By Daan Joubert =- Re-Blogged From http://www.Gold-Eagle.com

When two opponents are locked in a quite evenly balanced bitter and struggle, the balance tends to sway first one way and then the other as either side manages to find and exploit an opportunity until the other counters it then pulls out all stops to regain any lost ground. Typically there is no clear victor and the result looks like a stalemate. Sometime, though, one side receives reinforcements to suddenly change a pending stalemate into victory. Wellington experienced that at the Waterloo. Wall Street can tell a similar tale.

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Liquidity Preference Rising

By Keith Weiner – Re-Blogged From Gold Eagle

Picture a scene in one of those action moves. Two guys are fighting for control over the steering wheel. The car is going 75mph, the road is narrow, and there is a drop over a cliff on one side. And there are lots of sharp curves.

Central Planning

This is a pretty good picture of the action at our central banks. Desperate men are fighting for who gets control of the monetary steering wheel, and for which rules to use to determine when to turn left and when to turn right. One side wants central planning with discretion and the other wants central planning with rules. Among the latter, a debate now rages whether to use inflation, GDP, or another measure.

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Month-End Shenanigans Everywhere…

By Michael Ballanger – Re-Blogged From http://www.Gold-Eagle.com

“SHE-NAN-I-GANS”

pronunciation: “SH?’nan?g?nz/”

Nouninformal

  1. “secret or dishonest activity or maneuvering.” as in  “widespread financial shenanigans had ruined the fortunes of many”
  2. “silly or high-spirited behavior; mischief.”

To start off, I find it astounding that of all the ways that dictionaries might cite the usage of the word “shenanigans”, they elected to discuss it in its context to the financial industry and how shenanigans have “ruined the fortunes of many”. To wit, as we move into the month of May, we are entering the six-month period during which stock prices have historically faltered, setting up the old saw that one should “sell in May and go away”.

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NOAA Caught “Cooking the Books” Again, This Time by Erasing a Record Cold Snap

Via James Delingpole at Breitbart – Re-Blogged From http://www.WattsUpWithThat.com

The National Oceanic and Atmospheric Administration (NOAA) has yet again been caught exaggerating  ‘global warming’ by fiddling with the raw temperature data.

This time, that data concerns the recent record-breaking cold across the northeastern U.S. which NOAA is trying to erase from history.

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The End Of The Silver Manipulation

By Chris Marcus – Re-Blogged From Miles-Franklin

During a recent interview, First Majestic Silver CEO Keith Neumeyer shared some interesting comments about the silver market. In particular he spoke about a development that could lead to the end of the ongoing manipulation.

For those not familiar, Neumeyer is one of, if not the only mining CEO to speak publicly about the manipulation that has left silver prices suppressed. His interviews always offer insightful commentary, and this latest one covered what could be a game changing event for the price of silver.

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Eight Crooks Against The World

By Ted Butler – Re-Blogged From http://www.Gold-Eagle.com

I’d like to share what may be a different way of looking at the gold and silver market, but still remain focused on what has been the primary driver of price – changes in the COMEX futures market structure. It has become fairly common knowledge that prices rise when the managed money traders buy and prices fall when these traders sell. So great is the effect on price of this COMEX derivatives positioning that it is discussed in more commentaries than ever before. And that is due to what has become a clearly observable pattern of cause and price effect.

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Through The Looking Glass with NASA GISS

By John Mauer -Re-Blogged From http://www.WattsUpWithThat.com

One aspect of the science of global warming is the measurement of temperature on a local basis. This is followed by placing the data on a worldwide grid and extrapolating to areas that don’t have data. The local measurement site in the northwest corner of Connecticut is in Falls Village, near the old hydroelectric powerhouse:

fallsvillagestation

Falls Village weather station, Stevenson Screen at right

Aerial view of Falls Village GHCN weather station. Note power plant to the north

Aerial view of Falls Village GHCN weather station. Note power plant to the north Image: Google Earth

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The Fed’s “Third Mandate”

By Andrew Hoffman – Re-Blogged From http://www.Gold-Eagle.com

Lately, the Cartel has been throwing everything – including the kitchen sink – at Precious Metals; in silver’s case, vigorously defending its latest “line in the sand,” at the 200 DMA of $17.96/oz; and in gold’s, at its 200 day and 200 MONTH moving averages, both of which are roughly $1,266/oz.  And despite, as I mocked yesterday, the dollar index “rising” this week – due to heightened fear of a Eurozone breakup – they’ve been having an immense amount of trouble holding them down.

Yesterday, we saw the newest Cartel machination in action – of capping Precious Metal gains; no surprise, via the “Cartel Herald” algorithm, at the 12:00 PM EST “cap of last resort”; when Treasury bond auctions go, LOL, “well” – which I mock due to the fact that auction data is so comically easy to rig, to garner the desired “market” reaction.  Conversely, if such auctions go “badly” – i.e., a lower sale price than the prevailing market price – Precious Metal prices are smashed.  And of course, either way, PPT-supported stock prices are unaffected, subject only to the ubiquitous “dead ringer” algorithm, which “coincidentally” is centered around the Fed’s 10:00 AM EST “open market operations.”

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Today’s Market Manipulation

 

cropped-bob-shapiro.jpg   By Bob Shapiro

As the victory of Donald Trump took shape last night, futures on the various stock markets began to plunge. S&P 500 futures were down the unofficial limit of 4% at one point. The Japanese Nikkei 225 Index closed down about 920 points overnight.

The theory was that President Trump would be bad for the US Economy, not the least by pressuring the FED to normalize (raise) interest rates. And, indeed, we see 30 year Treasuries now yielding around 2.84% – up almost a full quarter point from yesterday (see http://finance.yahoo.com/bonds/composite_bond_rates?bypass=true).

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The Inexorable Result Of Modern Central Banking

By David Stockmn – Re-Blogged From Stockman’s Contra Corner

The inexorable effect of contemporary central banking is serial financial booms and busts. With that comes increasing levels of systemic financial instability and a growing dissipation of real economic resources in misallocations and malinvestment. At length, the world becomes poorer.

Why? Because gains in real output and wealth depend upon efficient pricing of capital and savings, but the modus operandi of today’s central banking is to deliberately distort and relentlessly falsify financial prices.

After all, the essence of ZIRP and NIRP is to drive interest rates below their natural market clearing levels so as to induce more borrowing and spending by business and consumers.

It’s also the inherent result of massive QE bond-buying where central banks finance their purchases with credits conjured from thin air. The central banks’ big fat thumb on the bond market’s supply/demand scale results in far lower yields than real savers would accept in an honest free market.

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End Interest Rate Manipulation

cropped-bob-shapiro.jpg   By Bob Shapiro

Last week, the FED head, Janet Yellen, announced that they were keeping interest rates pegged to zero. They haven’t raised rates now for almost 10 years.

Keynesians grant the FED / Government the power to manipulate rates. But, even they must say that the ZIRP and long term suppression of Free Market rates of interest is Socialism in the US. For those readers who may not be aware, Socialism is wildly destructive of an Economy, and of Individual Freedom.

Since the FED ended their QE programs, they have reverted to buying US Treasuries almost entirely at the short end of the yield curve. Traditional Keynesian dogma calls for short rate manipulation to be used to suppress long rates indirectly.

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