"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Monday, April 30, 2012

One Minute Chart of Gold - 7,501 contracts

By request of a reader S Roche, I am providing a one minute chart showing the enormity of the trade in gold early this morning (4-30)


  1. Thanks Dan,

    I really appreciate your response.


  2. looks normal to me ........next

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  4. Dan,

    Thanks for the information. Looks like the WSJ also reported on this. Come on now. If the public wants to continue to be manipulated continue on with the MW headlines. Marketwatch to the MSM rescue. We can continue this farce as the Obomneys continue to claim economy recovers. I guess it is time just to get out of the way of the Bernanke train, join the Dow indicie chasers and cash in all the gold stock chips with losses. This never changes. I understand now why all those individuals kept telling you they will never again buy a gold stock. MOPE and manipulation by the Banksters, Central Bankers and the main street media. It is pathetic.

  5. This is a bigger fight in gold then the ali frazier fight. The bulls just need to step it up and get it out of this area.

  6. Just feeling a bit weary. The Ms. M kills me. I have griwn tired and am a bit amazed by the lack of Miner tactics. It is obvious that they (controlling interest) of the n. American gold miners have no plan to fight back with any cohesive industry PR. Plan. It is disheartening to watch the MSM completely destroy capital.

  7. What are you guys talking about! A 12 dollars drop?! This is pathetic on a long term chart. The cartel may be able to manipulate short term prices but on the long term, they cannot win the war. Because of the exponential function, the amount of money they must print in the next 2 to 3 years just to keep the system from collapsing is so enormous that a pathetic $12 drop in the price of gold will be laughable when looked back into perspective.

    As for the government and all the regulatory agencies to ever look into PM’s prices manipulation?!! The State apparatus is totally corrupted and infiltrated by people from the cartel. Nothing will ever happen against the Money Masters. Their interest is above the national interest. They rule in full impunity and above all laws. We should not waist our time hoping in this direction unless we see a massive uprising against this monetary system (which unfortunately is very unlikely to ever happen).

    We have to keep focused. Since a month ago or so, these guys are doing everything they can to bring the price of gold down just to see a immediate “V” shape snap back in gold prices. I personally think that this is very encouraging and bullish for all of us who believe in sound money and PM’s. Massive purchases of gold by central banks around the world and talks to use gold as a medium of exchange for oil purchases are just a few of the real fundamentals supporting the real value of gold.

    Mining shares? If we finally do have a correction in the market, like some are expecting, the mining shares will become the best buy ever in your life time.

  8. As I have repeated over and over, Bernanke has become a "Master and Commander" of the financial markets.

    Hedge fund traders are now utterly terrified of Bernanke's manipulations to the extent that a horrific ADP report sends Fed-approved and TPTB-sponsored stocks like Macy's and Nordstroms to new highs.

    At the same time, the selloffs in gold, euro, and other "risk currencies" becomes even more magnified.

    Bernanke doesn't even have to flap his gums any longer, just the expectation and fear of manipulation by itself is sufficient to send the hedge funds into a commodity sell mode.

    And who would have believed that we would be seeing 1,400 S & P 500 with the 10-yr. yield at 1.91% with deficit spending out of control?

    I mean this Fed Chairman is pure genius.

    He actually has the markets so well conditioned, Paul Krugman could actually become the Fed Chairman and start printing like mad and the impact on commodities and bonds would be minimal.

    1. Mark, please do not mention that word again. You know the PK word. Man, that guy is so insanely progressive, pukish. If I ever, ever see that guy near me, I think I would just barf. And the spout would be directed directly towards that gross, flaming, idiot. Wow. Please, please, no more Krugman names allowed here.

  9. As long all of us convert the value of our PM holdings into pieces fiat paper, we are held hostage by the folks that print and decree fiat as coin of the realm. That should be a no-brainer...and also, it's a no-brainer (more of a fact) that in the past PM's has been used in trade. PM predated fiat paper, and thus through its history is potentially competitive in commerce to banker's paper.

    The big question is could it happen again? Could business and consumers return to PM's in settling debt and conducting trade? My answer is probably not. But this is possible and it is what the bankers fear; the return to PM's as a medium of exchange. The purveyors-of-paper are chonically freaky and getting freakier every day and minute-to-minute they have every incentive to destroy or cast doubt about PM's by hook or by crook. They are doing everything they can to hold on…they print paper in almost every color, some is watermarked paper, or is paper embedded with other paper, or is polychromatic paper, or holographic paper and the latest is plasticized paper.

    Fast forward to my second point, which is actually more of a question? Will China buy oil from Iran with gold? Or will it be Renminbi (¥)? Or, if not this time, when will the next large PM trade or debt settlement involving PM's threaten take place? That is what will cut the strings held by the banker puppet masters…

    It’s only a matter of time folks…and time is getting short.

  10. Dan, Is the complete decoupling of mining shares from the price of gold a hedge fund phenomena? I mean what gives? Given the failure of leveraged assets such as ETF's 10:1; and how Kyle Bass so eloquently said thanks but I will take my physical. I am beaten. Maybe they (Central Bankers, Bernanke's Army, Wimpette Obammy, and the rest sit around and say, hell, let's beat em up some more. I will sit on this crapola for ever now. Newbies show up and tout what has been said over and over and over. Jim Sinclair has not been that correct lately. In fact mining shares keep falling. Looking at the xau/gold price, it is unbelievable??? I mean just crapola. Help us here Dan. Please push a prayer up to the Gold Gods and give us a hand. Tell Jim to find that Gold Bug who can push us through 1680 so we can take a quick ride to 1720. I need it.

    Finally a quick look at the chart of the HUI which is not a pretty sight, as we can see the 50dma has crossed over the 200dma in a downward direction, sometimes known as the cross of death and on this occasion has proved to be bad news for the gold mining sector. The overall trading range had stood between the '500' level and the '600' level, but unfortunately this appears to have failed as the HUI closed below 450 yesterday. The formation of a double top has also been a negative for the HUI as it has trended lower with short rallies failing to gain any traction.

  11. Dan, God love you. Everything you have been saying for years. When liquidity finally reaches the end because of the leverage to infinity and no backstop. What the hell happens? The Blythes of the world will be long gone living on an island soaking up the rays with all of our money.
    I thought of you while reading this. It must be painful to watch all of this BS.


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