“That day when the banks no longer can freely manipulate gold!”
“Sadly, that day ain’t today” … however, it’s getting closer than many think
… it will happen when the ChiComs, currently the “money players” in the
game, jettison the banks and end up burying them and their short positions
… how will you hear about it? … “only when they go running to the U.S.
government for a bailout, and it suddenly is in the news … at that moment, it’s
the opening bell of the great awakening for metals and specifically for gold
… you ain’t seen nothin’ yet”!
It’s rare, when a member of “The Club”, specifically someone who is in the
business of producing gold out of the ground, speaks up and lays bare the
truth … too often, if they do open up, there are negative consequences for
speaking the truth. I remind readers, to view and read the ZH article from
about 2 years ago, linked directly below, where the CEO of a mining company
speaks truth to trading and price discovery.
join-class-action-lawsuit-against-bullion-banks-price-
The “money quote” from the article pretty much lays it out.
“…It is manipulation and it’s used frequently. There’s ways that the regulators
can monitor it. They can see it happening. The exchanges know when false bids
and offers get put into the system… Yet, the exchanges don’t step in because the
exchanges are owned by the banks… and the banks are doing that kind of
trading… It’s the self policing system, which doesn’t work because no one wants
to police themselves because they’re all making too much money.
How does Bank of America or JP Morgan not have a losing day year-after-year
of trading… it’s actually impossible… traders lose money… it happens all the
time… yet they have not had a single losing day for at least a couple of years as
far as I know”.
I would simply add, throw in the HFT scumbags along with “pay for play”
faster access times to CME servers, and you’ve got the full circle of
manipulation for profit, where everybody in the “food chain” benefits … oh,
except people who trade and invest … they’re the ones being scammed … and
what to do about it? … EASY PEEZEE: “1) pretend it’s a “conspiracy theory”
and label facts not facts but opinions, 2) punish anybody who attempts to throw
light on the scam, and 3) tie it up in regulatory bullshit & legal action that
produces nothing but makes lawyers rich … and then it just fades away, like
nothing ever happened”.
Even Deutsche Bank, found guilty of gold manipulation and fined $100
million … so what? … that fine probably paid out of their “Hookers, Blow, &
Alcohol” fund … it hasn’t changed their behavior one fucking bit, and
probably emboldened the other bank manipulators … when is it JPM’s turn?
… “well, you and I know that’s not gonna happen cuz JPM is the fucking Deep
State … the house of Morgan being at the center of “scumbaggery” now going
on over 150 years in the U.S., and tied to government at the hip like Siamese
twins … good luck waiting for them to face judgement of any kind”.
The entire system, from top to bottom, nothing more than a gigantic
“skimming” operation, like a 1950’s Las Vegas casino getting 10% of the cash
taken out in a suitcase from the counting room, and then hustled back to
Kansas City to be counted and distributed to mob bosses … the game is the
same, only the players have different names and come from “Blue Blood”
Wall Street backgrounds … how they have gained “legitimacy” is beyond me,
cuz they are nothing but thieves.
The only way to beat these assholes, is to 1) understand the game being played,
2) not fall for their tricks or use any technical indicators that their computer
systems track, and then use against you, and 3) show patience and discipline
… that’s it, and doing anything else simply hands them money … they can be
beaten, but they know most won’t adhere to what is necessary to beat them
… why change anything if nobody is going to do anything about it?
And I can tell all of you reading this right now, one of their favorite tricks in
getting retail specs to “bite the hook with the worm on it”, is to instigate the
“Flying Wedge of Death” [FWD], inside a very tight range … and what this
does to the collective, is get traders to act and think like “Pavlov’s Dog”
… new highs imminent, better get long! … wait, new lows imminent, better
get short! … whoops, new highs imminent, better get long again! … err, that
didn’t work … “anybody but me see a pattern here, where you’re acting like a
fucking lemming going off a cliff”?
There’s a reason … a very big reason … why I track and catalogue 20 Day
Range MA’s, and why I rarely if ever, make a trade when gold is inside a $5
range for the day … simply cuz it’s manipulative bullshit that you can’t
predict or control … we have no way of knowing what the bullion bank
knows … we can’t see the orders on their books, we don’t know where the
stops are for sure like they do, and we can’t coordinate our trading with other
big banks to screw hedge funds, and we don’t pay the corrupt exchanges
millions of dollars to get nanosecond executions that then front run futures
orders … watching gold trade for simply 5 minutes on a tick chart, and you’ll
look with amazement at how the bid can collapse or sky rocket $0.50 - $1.00
within seconds, and then just as suddenly everything dies, or goes the other
direction … “what the hell was that”? … simple, that was a bank front
running a corporate order and then filling them at the extreme [top for buy,
bottom for sell], and then taking it the other way. And nowhere does this
happen more often, than inside very tight ranges … welcome to the
manipulation, and mainstream financial trading brought to you by
government for the 0.01% … what a fucking scam!
Do I have a solution? … glad you asked, yes I do, but it would never ever be
implemented cuz too many entities from top to bottom would lose suitcases
full of cash … “I would BAN all banks from proprietary trading of precious
metals, and allow them to fill customer orders ONLY … any bank caught
creating phoney third party corporate shells and then calling them customers
when they are nothing but wholly owned shells that trade capital given to them
by the bank, would LOSE their banking license”. Yup, this would do it! And we
got about as good a chance of ever seeing this, as beachfront property in
Kansas.
An hour into the New York day, and this is pretty pathetic as we only have a
$4 & change range … back & forth we go, no direction but second to second
manipulation of price by some bank intent on screwing some order in futures
that filters immediately to spot [XAUUSD] … front running at its finest on
display … at some point, when order flow, stops, and large orders give them
the signals, gold will lurch higher/lower in seconds and the range will expand
some, helped along with more front running by the banks … this is what they
do, and this is who they are … as I said yesterday, “know your enemy”!
Days like today, this isn’t even a market … more like a manipulation slot
machine … put $10 in, and get $6 back … thanks, come again! Just when you
think it can’t get worse, that volumes & liquidity have hit bottom, along comes
shit like this to change your mind, and redefine the bottom of the barrel. This
is simply horrible.
And then the manipulators tip their hand … we get an algo signal to buy, and
the market goes higher on a bad U.S. session ISM services report … shorts get
trapped, and the rest is history … acceptable fill getting in, but liquidating we
got bent over the railing out back … “everybody pays to play, and we are no
exception” … scumbags top to bottom.
One algorithm buy trade today … PAMM up slightly less than 0.1%.
We’d have been up a helluva lot more if not for Turnkey LP “slippage candy”,
but it is what it is … I’d complain, but I know how that turns out … in one ear
and out the other, they could fucking care less.
So again today, the infamous FWD makes another appearance, thus insuring
most traders lose money looking for an expansion of the day’s range, from a
ridiculous $6.09 piece of shit day … just another day for the manipulators.
Onto tomorrow … we’ll hope for the better trading conditions tomorrow
… I’m outta here … until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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