Goldman Sachs bearish on gold..."Worst is yet to come"

[pennypicker]

Don't know if they have an agenda but it is what it is:
http://www.kitco.com/news/2015-07-22/Go ... -Gold.html

[neilgin1]

Don't know if they have an agenda but it is what it is:
http://www.kitco.com/news/2015-07-22/Go ... -Gold.html

Penny,
much appreciate the laugh with this; "Don't know if they have an agenda " in reference to what is most definitely a criminal enterprise, which is Goldman Sachs, as well as the six "too big to fail banks". IF justice truly did reign in America, the leadership of all these criminal enterprises would be indicted under RICO statues.....that's the racketeering and corruption charges, thousands of counts, which would entail life sentences without parole, but since ALL leadership is absolutely corrupt, figure the odds of that happening.

its okay though, when the REAL RAIN starts to fail, it is going to be one helluva storm, sweep all the filth and garbage right down the sewer drains.

[pennypicker]

Penny,
much appreciate the laugh with this; "Don't know if they have an agenda " in reference to what is most definitely a criminal enterprise, which is Goldman Sachs, as well as the six "too big to fail banks". IF justice truly did reign in America, the leadership of all these criminal enterprises would be indicted under RICO statues.....that's the racketeering and corruption charges, thousands of counts, which would entail life sentences without parole, but since ALL leadership is absolutely corrupt, figure the odds of that happening.

its okay though, when the REAL RAIN starts to fail, it is going to be one helluva storm, sweep all the filth and garbage right down the sewer drains.

Neil, love your passion as well as your delivery!

[beauanderos]

well, the fact that they are bearish might actually serve the function of a short term weather report. Gold will be washed away
as the flood of unbacked paper short sales is expected to continue for the foreseeable future. Silver will be undermined as well
(pun intended).

[68Camaro]

Someone is clearly messing with the market and believes they can push it down some more. The probing is going on again tonight. Testing the strength of the bid stack and ability to recover. When they find a weakness - bam!

[InfleXion]

For some reason I have this notion that everything Goldman says is a contrarian play so that they can make money off of their customers, but who knows. I do feel like $1000 gold is on the way, but I highly doubt everybody and their mother don't buy it all up if it gets any lower than that. If we see say $1000 gold and $12 silver that's the back the truck up moment for me. I figure this might be the last year I'll be able to get metal in this range with markets are acting a little crazy like something is up.

Someone is clearly messing with the market and believes they can push it down some more. The probing is going on again tonight. Testing the strength of the bid stack and ability to recover. When they find a weakness - bam!

Hmm, 50 cent downswing in silver hovering back in the 14.60's. Getting that look out below feeling. I haven't bought much this year, and I may have to start rationing out some powder if it gets much lower. If I have to buy generics, that's just fine Hunting for deals is half the fun.

[neilgin1]

Someone is clearly messing with the market and believes they can push it down some more. The probing is going on again tonight. Testing the strength of the bid stack and ability to recover. When they find a weakness - bam!

lets ask ourselves ...........why?

lets just pretend you and me 68 have a company, and lets pretend we , the company have a net worth of 5 billion dollars.

now, there's no juice in parking fiat, or digits in a bank, and we're thinking long term.

why pay 80 cents on the dollar, for 'something' (it could tonnes of industrial metals, or the mines that produce these metals) when we could buy it at 20 cents on the dollar?...or 10?......because WE and others we talk to everyday, KNOW, that via these phony 'markets', that are ALL cyber, and trades can be made in MILLIseconds, huge trades, and are used as "benchmarks" to set the PHYSICAL metals.....we can POUND the market down at our choosing, and when mining concerns, and shale producers, wildcatters, are getting killed, operating at less than break even price, suddenly get real vocal about wanting to SELL OUT, and there YOU and I are, listening to them offer a mine at 50 cents on the dollar, and with poker faces, we say "20 cents on the dollar, cash, take it or leave it......the man is desperate, he knows it, we know it.........that's the why.

and mind you, a LOT of these metals AND crude oil are at peak, so its a no-brainer to park billions of PAPER fiat and electronic digits into massive amounts of tangible assets, AND the mines and wells they come from.....but we're not part of the .0001%....or the .001%....or, or , or. To them, we're just 'eaters'....that's the mindset of a sociopath.

You've seen how gold, (just for example) has been "trading"....pounded down $50 here, $30 there.....that kind of action can ONLY happen in a cyber market.

the LAST three open outcry trading pits officially closed on 6 July, the livestock complex, where I was raised.....but all open outcry pits have been "dead" for a few years now, as the millisecond cyber systems took over, where one could literally PLOW thru orders like a mower thru grass.....BUT, when open outcry trading pits were the sole means of price discovery, such wild swings could NOT happen, example:

a few brokers get verbal orders to sell say 5,000-10,000 contracts of gold for large concerns, banks, hedge funds, whoever...maybe there's been a little pre-collusion.....you with me still?....they go into the pit to do their thing, pound the market, but the problem is this, arrayed against them are 30 to 50 VERY well capitalized "locals", traders who trade for themselves, and are content with "scalping", not holding a trade more than 10 seconds to a minute or two, content to take two, three or ten "ticks" off of say a 500 car (contract) 'scalp"....these guys would do this all day long, and if you were good, had fighter pilot instincts, you'd go home with $20,000...or 50, or a $100,000....

so they see these brokers appear....the locals KNOW they trade in size....they might have even been tipped off a few seconds before.....so they lay back, and let these pound it to -10.00 on the day, and then they pounce, and the 8,000 contracts to sell are bought up by them in minutes......BUT, since all these men in the pit have to actually WRITE on trading cards, write the amount of cars, the month, the price (which you had to call out to the exchange pit clerks) the opposite broker, his clearing house....this couldn't be done in milliseconds...it could be done in 10 seconds, or 20, but the pit would be swamped, and the head exchange pit clerk/supervisor would call a "fast market"....and that's REAL important, tell ya why:

in a normal market a broker had 30 seconds to buy or sell on a market order, in a "fast" market, he had TWO minutes. We had a printout called "time and sales", every single trade was listed on this with the exact time it was made...in a fast market, the range between the HIGH and the LOW trade could be as wide as $7 to $10....this is important to understand, stay with me.

now in our hypothetical situation, the mega sellers STILL have 5,000 cars to sell..Now they could just continue to pound the market......but don't forget, they know these scalpers, see them everyday, some might be friends, drinking buddies. The two minute range could be 1108.25 to 1115.75....so the mega sellers would sidle up to a big local or two, or three and say, "you bought a 1,000 from me at 1110"....when they could hear a 1113 bid on a thousand on another side of the pit, which these newly long locals would instantly "hit" by screaming "sold, sold"........and call out to the pit clerk......"13 trade!"

that's a full $3.00 instant profit on a 1,000 cars, (do the math, its an quick fortune) and the mega seller knows there is an implicit reciprocal arrangement, but its pinching a part of the banker or large hedges loaf, so over time, they did away with the pits. Economic college majors didn't do well in the trading pits, because they were suited for smart tough street guys, with bolls of steel....and a thief hates nothing more than to "thieved" from.

and these "pit locals" who know TRY to trade from screens?....oh my, they're either GONE, or getting killed, or just eking by....( I was never a "scalper", I was a livestock and grain spreader, because when I was a kid, I watched the OLD guys in the back of the pit, quiet, and saw what they were doing....spreading, so that's what I studied, and then did. Right now, I see a familiar corn spread, I've made GOOD money from in the past, and i'd love to trade it, but there is NO WAY i'd put a dime into a account after what Jon Corzine pulled by trading customers money and imploding a 300 year old trading house for 1.7 billion and still be walking around a free man)

now you can say, the pits and the pit guys got what was coming to them, but they served a purpose, and that was to prevent what you see going on today, which is six mega banks, the Fed, the ECB, goldman totally manipulating ALL markets and THAT

is socialism

now i'm going post up the trailer and the complete film of a fascinating documentary of pit culture and its demise , entitled "Floored"......its where I grew up, in fact I see so many faces of people I knew, I knew them, wasn't friends with most of them...some....this is a film that will fascinate, coz it was probably the last place a smart tough street kid could walk onto poor, and walk off a multi-millionaire. my personal career direction went other places, but I still spread grains into the 2000's.

(a quick note about the film, the trading floor you see, is a but a mere shadow of its former self, the place was packed, the livestock complex was HUGE, and also, this whole cigar fetish?....that's a late 90's thing, and the traders profiled?...I don't know any of them. I see a lot of guys I did know, and some that are friends.....but some of these profiled are definitely playing for camera. I was already working on the West Coast by late 88, and would only spread trade thru the one or two guys I trusted...grains mostly, NEVER index's, financials, or currencies....spread trading is NOT gambling, I hate gambling, I would put on positions for three to six months...these guys, in this film?.....I rarely even spoke to, because they were coarse men. louts, for instance, taking a bus, with five other guys, a mound of coke, and two prostitutes to go golfing is not my idea of a swell time, but freedom is freedom)

be well dear friend, n
"Floored" trailer


"Floored" complete film

[daviscfad]

Hey let them manipulate it down to 200 an ounce.. the smart people will be buying.. buy all the way down then back up to a point you feel comfortable.. for sure buy on the way down

[Country]

First ZERO interest rate policy rampant worldwide. Who does that benefit? Now, an attack on most commodities, not just PMs. Who does that benefit? I'm beginning to see a larger picture here. It seems to me to be just another way for the multi-conglomerates to maximize profit.

[InfleXion]

First ZERO interest rate policy rampant worldwide. Who does that benefit? Now, an attack on most commodities, not just PMs. Who does that benefit? I'm beginning to see a larger picture here. It seems to me to be just another way for the multi-conglomerates to maximize profit.

Aye, that's one side of the coin. The other side is keeping John Q. Public from having any money. Inflation robs our buying power. The attack on commodies undermines our inflation hedge. There'd be no need for the elite to be rich if they were successful at making everyone else poor. It's all about disparity and control.

[Treetop]

Certainly not going to argue much that happens isn't about control. That said however, I mean low commodities also keep the economy running smoother. Seems pretty clear they don't want people betting against the current paradigm as well, but the american empire functions with cheap resources.

[neilgin1]

First ZERO interest rate policy rampant worldwide. Who does that benefit? Now, an attack on most commodities, not just PMs. Who does that benefit? I'm beginning to see a larger picture here. It seems to me to be just another way for the multi-conglomerates to maximize profit.

Aye, that's one side of the coin. The other side is keeping John Q. Public from having any money. Inflation robs our buying power. The attack on commodies undermines our inflation hedge. There'd be no need for the elite to be rich if they were successful at making everyone else poor. It's all about disparity and control.

I agree with you 110%.



i'm very fond of this lil cyber clubhouse and i'm VERY fond of all ya'll...

[neilgin1]

Certainly not going to argue much that happens isn't about control. That said however, I mean low commodities also keep the economy running smoother. Seems pretty clear they don't want people betting against the current paradigm as well, but the american empire functions with cheap resources.

wish we could do better

[Treetop]

that might sound "weird" to you, and that's okay, but that's the way I feel in my heart....

just speaking for myself here but.... PFFFFFTTT. Dont think that for a second. I don't care the exact beliefs of any of you. Most everyone here has a good heart, isn't a parasite on others of their species and does their best. The types to dig in when things are rough. You are all my brothers (or sisters).

[silverstacker]

Penny,
much appreciate the laugh with this; "Don't know if they have an agenda " in reference to what is most definitely a criminal enterprise, which is Goldman Sachs, as well as the six "too big to fail banks". IF justice truly did reign in America, the leadership of all these criminal enterprises would be indicted under RICO statues.....that's the racketeering and corruption charges, thousands of counts, which would entail life sentences without parole, but since ALL leadership is absolutely corrupt, figure the odds of that happening.

its okay though, when the REAL RAIN starts to fail, it is going to be one helluva storm, sweep all the filth and garbage right down the sewer drains.

Neil, love your passion as well as your delivery!

Amen +1