The Phaserl



by Andy Hoffman, Miles Franklin:

How egregious is the gold Cartel getting, in its final “death throe” stage?  Well, here’s the chart I posted yesterday, of the essentially “sixth sigma” similarity between “trading” Sunday and Monday night, as well as Monday and Tuesday morning.  Everyone could tell this paper market was rigged with identical algorithms.

Well, it was no different Tuesday afternoon and evening – with PMs again capped and/or attacked at the historical “key attack times” of 10:00 AM EST, 2:00 PM EST, and 2:00 PM; and for the third straight day, with the time and trued “8:00 PM EST algorithm.”  In fact, when I looked at Zero Hedge to see if any actual news had emerged to explain the 8:00 PM raid, the top story was…drum roll please…“GLD ETF holdings rise for record 40th straight day!”  I.e., the massive institutional demand surge I have been pounding the table about this past month.  Which, I might add, drove the PSLV closed-end silver fund to close at a whopping 5% premium to net asset value yesterday. 

In fact, yesterday’s horrifically blatant suppression was as bad as I’ve ever seen it; as from the second I awoke, throughout the course of the day, the reasons to own PMs – from falling oil and stock prices; to China’s unfathomable plunge in February exports; Japanese 30-year bond yields closing in on negative territory; and the aforementioned surge in institutional buying, was as powerful as ever.  And yet, PMs were mercilessly attacked from the second the New York “pre-market” opened, to the second the NYSE closed!


And then there’s today.  When, amidst a night in which no material news emerged – other than yet another large API crude oil inventory build – PMs recovered all their “8:00 algo” losses – and actually avoided the “2:15 AM” algo for the fifth time in a row, after having never avoided it for more than a day or two in a row in the past three-plus years.  That is, until a prototypical “Cartel Herald” algorithm arrived just before 6 am EST, and bombed prices for absolutely no reason other than to “put them back in their place.”

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Yes, it’s that obvious!  Let alone, on a day when we learned that India’s 2015 gold imports were nearly at a record level (likely, above said record, when incorporating the enormous black market catalyzed by the 10% import tariffs its psychotic government instituted in late 2013).  And as for silver, the world’s largest silver consumer literally blew the doors off the previous record level of imports.  Again, despite 10% import tariffs!


Under such circumstances, could any sentient being believe the exact same pattern – of paper attacks the second New York awakens – be considered anything but blatant manipulation?


To that end, “Simon Black” of Sovereign Man published an interesting article yesterday, titled “4,000 year-old financial indicator says major crisis looming.”  That “indicator,” in their view, is the gold-silver ratio spiking to its current, utterly ridiculous level of 82x.  Their conclusion, per below, is that the only times in the past century it has been this high were World War II, the Gulf War, and the 2008 crisis, per the below chart.  And guess what?  For once, I disagree with Simon Black entirely!

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