Chris Powell of GATA: Gold Manipulation Historical Fact Not Conspiracy Theory.

  

  After headlines today about the settlement in the FOREX market manipulations by the major banks it looks like "this conspiracy theory" will be proven to be true very soon as well or is it already happening? If traders from major banks and even BOE were rigging the FOREX what is happening with Gold and Silver markets were the manipulation is "blessed" by the Central Banks? Will these developments coincide with the cycle bottom for Gold called by Charles Nenner now?

Gold and Commodities: What Is next - Major Reversal Or Another Bloodbath?

  We had a small party this Friday with Gold short covering in a full action. Will this Reversal hold to its promise now? All hope was lost for the Gold bugs and all miners were obliterated in capitulation last week. This is when the bottoms are formed. No buyers and everybody who can has already sold. Last few weeks we had no bids in any junior miners and if any volume came in it was sold at any price. It is The Capitulation. I have seen it before and not a lot of people out of our industry can believe it, but we have hit even the lower low than in the middle of financial Panic in 2008 in our sector!

  Nobody knows the future and I am not a trader any more. I have to stick with my companies moving forward, building up the assets even when nobody cares any more. But when the turn-around comes the move from insanity Low to another side is the most dramatic of all as well. You just have to stay in one piece before it. Have we reached this level?

  The chart above could be the answer. Everybody is Bullish on US Dollar and Markets. Everybody is Bearish on Gold and Miners. Sentiments are at the total extremes.  Fundamentals are supporting much higher Gold, Silver and Copper prices. The most important: smart money - Industry Insiders are buying the best assets now.

  Please notice the fist Candle when USD started this rally in May 2014, the move was dramatic and uninterrupted. Now we have the Reversal Candle just formed. What will bring the downward pressure on US Dollar now? I do not know, but Nothing grows up into the Sky. Strong US Dollar means that Deflation can become the reality. Who will risk it now? We will see very soon and the next week will be very important. The real short squeeze has not even started yet. 
  Alan Greenspan talking about Gold as Premier Currency, Charles Nenner calling the cycle bottom and China buying record amount of Gold could be the signs of the tide coming up now to the gold market.

  You can find my previous posts links to showcase my Big Picture view on this blog and I will remind you about our assets in International Lithium and TNR Gold, as usual. Read more."

ZeroHedge: A Clear Attempt To Manipulate Fixes In The Precious Metal Market

FT: BoE dismisses chief forex trader over ‘serious misconduct’

FT: Regulators slap $4.3bn fines on six banks in global forex probe

Gold Short Squeeze - Koos Jansen: When China Will Utilize Its Gold The Price Will Rise.

  We have a nice rally in Gold today after Gold miners have paved the way by reversing last couple of days. Nobody believes this rally, so we have the very good set up for the real bottom now. Needless to say that gold miners are in a total capitulation and have reached the record oversold levels even below 2008 panic!

  Nobody knows the future, but Koos Jansen will be the very good guide into the China's appetite for Gold and Charles Nenner has made quite a bold call on Gold to bottom now. Any pause in US Dollar growing up into the sky will be welcomed by gold and reignited by the short covering now.

  Swiss Gold Referendum remains the wild card with potential 1,500 t of Gold to be bought by SNB in case of Yes Vote.

Charles Nenner: Gold Cycle To Bottom, Sees $2,100 Upside Target.

  Charles Nenner has quite a few very impressive calls on different markets. His today calls sound totally contrarian for the mainstream investors. US Dollar is rising to the sky, markets are hitting all-time-highs. Lets put him on the record here today. In this interview he confirms his call for Gold cycle to bottom now and his upside target of $2,100. Chinese seems to be following his ideas ...

  The day will come when even God forgotten juniors will get the bid based on the real assets they hold.

Presentation: TNR Gold Receives Royalty From McEwen Mining On "One Of The Largest Undeveloped Copper Projects".

Koos Jansen:

When China Will Utilize Its Gold The Price Will Rise

On October 27 I was interviewed by German financial TV network DAF, about the Chinese gold market. After it was broadcasted on October 30, the host, Markus Bußler, told me it was the most viewed video on the DAF website that day. I hope the message is spreading. It was only 10 minutes so I couldn’t go in-depth, but was happy to share a few key points.

• Chinese consumer gold demand in 2013 was 2,200 tonnes, not 1,100 tonnes as the Wold Gold Council states.
• Only for consumer demand China net imported 1,500 tonnes in 2013.
• The best way to measure Chinese wholesale demand is by withdrawals from the Shanghai Gold Exchange vaults (SGE) – although this might change in the future.
• The PBOC does not purchase gold through the SGE.
• The PBOC is definitely increasing its official gold reserves.
• China is the most important player in the gold market, they are the second largest economy in the world and accumulate gold for it’s monetary value and in anticipation of a new monetary system.
• China still has a lot to work to do regarding the internationalization of the renminbi, developing their financial markets and diversify their FX reserves. In this sense China has no rush, it wants a gradual shift away from the US dollar.
• When China will fully utilize the gold it is accumulating, I expect the price to rise.

Make sure the captions are on for the first 30 seconds in which I’m introduced in German. From 0:30 the interview is in English.

Koos Jansen.

Bullish For Metals?! Missing Collateral in China, Follow The Trail of Loans, Copper and Fraud.

  

  As we have discussed before, nothing on my blog represents the investment advice of any kind. I am only sharing my thoughts on the markets, our industries and our companies. It is important to keep the big picture in front of our eyes: not only headlines, but what is actually people with money are doing by using every manufactured opportunity to acquire The Real Assets at the Lower Price:

"China continues its buying spree of copper assets all over the Globe: last month the huge Las Bambas copper project in Peru was bought by Minmetals Group for $5.85 B and now Guandong is bidding for PanAust. Reuters reports on the deal and you can notice how the activity in M&A by Chinese companies is picking up during the "soft market". It is the very important indication of the major bottom in the mining cycle: it is cheaper "to dig" for Copper and Gold on the Stock Exchanges now, when valuations of assets in the ground of listed companies are discounted by the depressed mining markets. Read more."

 And for all its followers as a great contrarian indicator Goldman Sachs came out with the major piece on the risks related to the China's Commodities Unwind Zerohedge: Goldman Explains How Big Is China's Rehypothecation Problem Is (Hint: Very):

"Step 4: Repeat Step 1-Step 3 as many times as possible, during the period of LC (usually 6 months, with range of 3-12 months). This could be 10-30 times over the course of the 6 month LC, with the limitation being the amount of time it takes to clear the paperwork. In this way, the total notional LCs issued over a particular tonne of bonded or inbound copper over the course of a year would be 10-30 times the value of the physical copper involved, depending on the LC duration. ZeroHedge."

  Today Reuters reports: "CITIC Resources warns over China port probe; private metals firm investigated":

"(Reuters) - China is investigating a private metals trading firm over a suspected metal financing scam at Qingdao port, police sources said, as CITIC Resources Holdings Ltd warned that metal it owns at the port may be affected by the probe. Reuters."

  I find it quite interesting that really "Everybody Does It!" Matt Taibi: "Accidentally Released - and Incredibly Embarrassing - Documents Show How Goldman et al Engaged in "Naked Short Selling":

"It doesn’t happen often, but sometimes God smiles on us. Last week, he smiled on investigative reporters everywhere, when the lawyers for Goldman, Sachs slipped on one whopper of a legal banana peel, inadvertently delivering some of the bank’s darker secrets into the hands of the public.

The lawyers for Goldman and Bank of America/Merrill Lynch have been involved in a legal battle for some time – primarily with the retail giant Overstock.com, but also with Rolling Stone, the Economist, Bloomberg, and the New York Times. The banks have been fighting us to keep sealed certain documents that surfaced in the discovery process of an ultimately unsuccessful lawsuit filed by Overstock against the banks. Rolling Stone."

Market Manipulations, NI 43-101 And How The Honest Person Can Survive In Junior Mining.

"Manipulation is rampant in all markets: HFT Flash Boys, LIBOR, FOREX, Pensions, Energy ... Gold. Some of the former conspiracy theories are going in the court rooms now, others are still waiting for their time. But nothing could be compared with naked shorting and manipulations in the illiquid junior mining stocks. Dirty tactics are used all over the market like the banging the juniors into the close, suppressing the prices during the accumulation. You can get the idea from the reports made by Jim Puplava  on Financial Sense and the summary: Naked Short Selling: The Problem.  Not a lot of people are talking about it - not a lot of us have the voice. And that is the real problem.  Read more."

  In my personal opinion, we are witnessing the same game of the rehypothecation as it is happening with FED, BIS, Investment Banks and Gold. This, actually missing metal as collateral, will be the very bullish set up for the commodities markets. After initial selling due to the margin calls and unwinding of Paper Positions in the market, Mr Market will realise that all these metal accounted for the supply and demand picture is NOT there. Industrial demand will stay in place, but Supply which was supposed to be hoarded in the warehouses is missing: the collateral was used a few times for the different transactions. You can study this subject more with explanation in plane English in the very good podcast I have published yesterday:

Sufiy: Federal Reserve Is As "federal" As Federal Express: Massive Conflict Of Interest In This Private Central Bank.

  "In my personal quest for answers how does the world really work? I came across a lot of conspiracy theories and "tin foil characters", but to my very personal surprise a lot of these theories ... are happen to be true and the real secrets are hidden in the plain sight. I do not talk about any politics here, but in order to have All our Big Picture in place we must consider all options of How To Win Strategy is applied  in The Art Of War, which employs Any Rules of Breaking The Rules. Read more."