Merry Christmas! Silver and Gold Smashed – Back up the Sleigh

From The Daily Coin:

All [last week] the criminals on the COMEX and LBMA have been working their magic. While the precious metals “markets” are not rigged, *cough-cough*, just ask Jeffrey Christian or any other member of the CMP crime syndicate, and they will be happy to explain it all as normal, natural trading. Oh, that’s right, Deutsche Bank ratted out a bunch of criminal banks rigging the markets!!

The artificially low acquisition costs during the Shopping Season should get your attention. Today would be a good day to back-up-the-sleigh and off-load some very inexpensive precious metals.

According to chart backwardation/premium to physical on the SGE remains above $50 per ounce for gold and just below $2 per ounce for silver.

You can read the rest of this here:   Merry X-Mas From The Comex

6 thoughts on “Merry Christmas! Silver and Gold Smashed – Back up the Sleigh

  1. Best idea is to be positive, patience , patience again.
    We survived another year , it’s better idea to have it than to have Big Crush.
    Masters of Universe can manipulate for long time , but not forever.
    Greece , Porto Rico , DeutscheBank , Italian Banks – everything looks good again but debt is growing. It’s the Biggest Ponzi bubble ever. That is so important to be focused and be patient. They smashed the Gold , so they can buy more shares in Gold mining companies. They know that they can’t keep system forever going. Be positive , gold most probably will go down for while , but one day will explode. It’s better choice than to have shit paper. Merry Christmas or Wesołych Swiąt in polish.

  2. 100% agree with Mark’s comment above: “That is so important to be focused and be patient.”

    I said here ~ a month ago: I may even entertain idea of buying metals on margin, IF they got hammered substantially. Given that interest rates are forced to go up a bit & US Treasury bond yields have been dangerously volatile since the election, the level of hammering metals got over last month is still not sufficient for my comfort levels. I’m not touching prospects of margin borrowing with a 10 foot pole at these prices. There’s also danger of real interest rates forced to run away high by March to May 2017. If metals get hammered even more, e.g. gold into 1000s & silver down ~ 12 or 13 level, I may take a bait. Otherwise I’m sitting tight & content/focused & patient.

    For those who do have spare Dollars with no need to borrow on margin: Of course it makes sense to do what the post says. Sell high & buy low & be grateful about it during Holiday period. It makes no sense to hold onto an overheated US Dollar @ such high levels.

    The US Dollar really needs to go down. I feel this will start happening in early 2017. Logic dictates that it can’t sustain itself @ levels like these.

  3. If paper gold can be smashed down without regard to physical supply or demand, that drives the HUI down, right? And if the HUI goes down, mining shares also drop, right? So, if (hypothetically) the gold futures are smashed to zero, then the HUI will also drop to zero and mining shares will likewise be worthless, correct?

    Sorry for sounding like a troll or a dick by saying that, but is there any merit to what I just said, or am I way off base? I’m just trying to see things from all angles, even the far out angles.

    1. Marcus,

      The manipulators have not been successful dropping the prices below the cost of mining the metals; at least not for long.

  4. well actually it’s a no brainer to sell paper gold and/or silver and buy the phys. Why? If something is worthless or practically worthless but you have some idiots who want to pay dearly for it and you can use the procedes to buy the real deal, how can you lose? As close to the perfect riskfree arbitrage one can get. But those are the rules. Ask Dave, he knows what will happen when Comex can’t deliver and the price of phys skyrockets.

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