"The Most Massive Intervention Of Government Into The Capital Markets, Or The Financial Markets, Since President Roosevelt Closed The Banks Back In 1933," Don Coxe, Bank Of Montreal
"The Constitution of the United States unquestionably intended to secure to the people a circulating medium of gold and silver. Experience has proved the MISCHIEFS and DANGERS of a PAPER CURRENCY, and it rests with you to determine whether the proper remedy shall be applied." … President Andrew Jackson, Farewell Address, March 4, 1837
"Now, I will sign this bill to make the first change in our coinage system since the 18th century. And to those Members of Congress, who are here on this very historic occasion, I want to assure you that in making this change from the 18th century we have no idea of returning to it." … President Lyndon Baines Johnson (LBJ, Lousy Bum Job), part of remarks made on signing the Coinage Act on July 23, 1965
GO GATA!
As we all know gold is NEVER allowed to rise much on the day of, or before, a negative US jobs report … NEVER! Thus, to my great astonishment, gold rallied $22 right after the release of this morning’s US jobs report. This cannot be, I thought. And, naturally, it could not be. The Gold Cartel traders must have been at a meeting, or were caught completely off guard by the ferocity of the rally.
Before the Gold Cartel honcho traders could get back to work, the rear guard watching the roost stopped silver dead in its tracks, which was a clue about what was to come for $820 gold, and even worse for silver…
Bill, here's the minute-by-minute action surrounding today's employment numbers. Pretty much follows your method of interpretation. As I send this to you, the gold price has fallen way off the 2% limit down to up 1% at around 812$.
worldofwallstreet.
us/2008/09/lemetropole-cafe-view-of-todays-employment-related-gold-futures-action.html
MontyHigh
It truly is beyond comprehension that there could be even a single dolt out there who doesn’t get what’s going on here … at least anyone who actually watches these markets. What gives it all away in a nanosecond is the continued counterintuitive action of gold, silver and the rest of the US financial markets.
This mornings jobs report was TERRIBLE, after taking into consideration the prior month's revisions. It was NOT in the market. Yet, the dollar goes up, gold is killed after an incredible rally, and the DOW goes UP on the day. Huh?
Yesterday I wondered why the PPT let the DOW go down so much past the normal 2% limit. Now I know. The PPT and Counterparty Risk Management Group, some of them anyway, got the word just how bad this report would be, so they sounded retreat to lay in wait to hold the DOW up today. More of the same constant market drill … the DOW is never allowed to falter badly two days in a row. They ALWAYS shore it up, no matter what the news. Then, the Muppets on CNBC say how well the market acts relative to the bad news … that the bad news must be factored in.
A ringleader of this MOB is surely Goldman Sachs, which gets its marching orders direct from the US Treasury and their former leader, Hank "Dartmouth" Paulson.
These guys at GS are as conniving and ruthless as they get. Great traders, the bunch. Heck you and I could trade well with the government behind us.
Latest word (rumor) on these bums is that while issuing a very bullish report on crude oil, they took the other side of T Boone Picken’s hedge fund, who was long. Word to me from a good source is that Goldman Sachs was his primary broker and they buried his vulnerable client, probably after getting the inside word that the US Government was going to trade the oil market from the short side, something I alluded to WEEKS ago. I am told T Boone's fund lost about 84%.
Am I over the top here on my talk of market intervention and casting aspersions unfairly? I don’t think so….
Bill;
events.startcast.com
You should listen to this week Don Coxe [strategist at Bank of Montreal] in his weekly call – Sept. 5, 2008. In it, he lays how the Fed and Treasury in conjunction with the CFTC and SEC "RIGGED" the collapse in commodities and bounce in financials to purposely "screw" people who were making commodity bets and shorting financials. He states that this was categorically the most massive government intervention into the capital markets since the 1930’s when Roosevelt closed the banks.
He also seems to think this is all not only O.K. – but it was exceptionally brilliant handiwork.
I admire his candor but my take on this is that all the perpetrators should face a firing squad, or worse, for treason.
Best,
Rob Kirby
Hello Bill;
I've been following you and gata for ten years now, so please believe me when I say I wouldn't waste your valuable time.
I've just finished listening to the Don Cox webcast for sep 12. Don is as mainstream as they come.
I've never heard you speak, but if you had made me listen to this broadcast and asked me to name the speaker I would have sworn it was Bill Murphy, absolutely no doubt.
Don describes how the takedown on the commodities (including gold) was orchestrated by the Golman Sax allumni with the complicity of the SEC (a ban on naked short selling of the financials), the worlds central banks working with hellicopter Ben. He alludes to insider knowledge of hedge funds positions and how to bring about their abandonment of their long commodity short financial book....all to save the financial system. Even talks about the timing of the event (overseas sunday evening) for maximum effect. I could go on.
This is a must listen to webcast.
events.startcast.com
Keep up the good work and thanks for keeping the faith.
Monty
This fits RIGHT in with my long held rant about the Plunge Protection Team, which includes the CFTC and SEC … and my long query as to why bureaucrats would be included in The Working Group on Financial Markets. There can only be one reason and that is for them to look the other way when it comes to the government manipulating the markets.
In late, The Gold Cartel and PPT at work...
Bill:
I have to get this off my chest. More blatant proof.
The way the futures were pointing with the bad financial news, I thought SKF (2x inverse DJ US Fin Ind) would have a decent run today.
Looks like the financials were starting to fall apart around 10 AM. Then check out what happened AT THE SAME 11 AM GOLD BASH TIME: |
