New Record on COMEX

I never said they were targeting a desired price point. I said that there was never needed this much downward pressure to reach the current price point, by which I simply mean the price it is at, whatever that may be. I don't appreciate having words put in my mouth, and then a false interpretation being used to say why I am wrong. You and another person here who will remain nameless do a lot of that, and while I will admit it's very effective at raising my frustration level, it's really not in your best interest if you want to be taken seriously.

Considering also that all the physical gold on the Comex could be bought for about $400 million right now, I would personally be concerned if I were reliant upon them for my metal.

Which stackers are you referring to exactly? Generalized statements aren't worth much. I haven't lost any money since I've only sold for profits. I am not familiar with the trouble you speak of. Poor investment decisions are a reflection on the individual, not the market.

You may want to look up Gibson's paradox as well. Rising interest rates do not always cause the gold price to drop, and in fact history says that rising interest rates in the current environment will cause the gold price to rise. The Fed can't raise rates anyway because the debt is already unserviceable, and rising rates puts us that much deeper underwater. The interest on the national debt alone is 2.5% of GDP, and the debt itself is over $18 trillion. Raising rates makes all of that more expensive to pay off. It would amount to suicide due to risk-off, mass exodus from USTs, or a US default, if not all of the above. The only reason 2008 didn't end the fiat experiment is because of lowering interest rates, and now leverage is even higher than it was then.

And an improving economic environment? The population to employment ratio says otherwise. Have you not heard of all the layoffs going on right now?

For every complex problem there is an answer that is clear, simple, and wrong.

 

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Yes you did say the market makers were targeting a desired price point.

Also, you are incorrect about the FED not being able to raise rates, they can and they will. Revisit in Dec. and we will see. This seems like your position on the FED not being able to end QE. You were wrong then and you are wrong now.

A far as the trouble stackers got into, well if you want me to be more specific, it is all the money they lost. BTW, you once told me your initial price point and timing for your first Silver purchase, and Silver went up after that so yes you lost money, your entire stack is underwater. Please don't be drinking the kool-aid and tell me it is only a loss if you sell. That is total bull.

 

What I said is they were targeting a desired amount of price reduction, not a particular price point. Sentiment is just as important as price. The goal is to make the asset look bad. For some reason I have a feeling you know this already. You seem to have the same agenda.

Gregory Mannarino covered the huge amount of paper gold dropped on the market recently as "market orders" which literally means "sell at any price". Nobody does this without intent to lower the price. Otherwise they would use a "limit order".

So now you don't have to argue with me. You can argue with somebody who knows more than either of us.



http://seekingalpha.com/instablog/2...n-of-the-paper-gold-and-silver-market-is-done

I think you also missed the memo that the Fed stated they would postpone a rate hike until next year.

http://www.bloomberg.com/news/artic...to-postpone-rate-increase-amid-greece-turmoil

Additionally, I have not lost any money because I have not sold any metal for a loss. It's called mathematics, not kool-aid. Now if you were to say my net worth has dropped somewhat, you could argue that, except for the fact that I've made enough money to offset the drop in price. But you don't even know why I stack. It isn't to make money. It's to preserve wealth for my retirement in 30 years and to have tangible assets that can't be stolen by computer shenannigans.

Full disclosure, my DCA is $24/oz, and half of my stack will not sell for less than $30/oz because I target semi-numismatic plays which are close to spot but have great potential to rise. So I am truly at break even. It's a good thing I don't play with paper and instead deal with the real thing. This year for example I've been buying tubes of 2015 Somali elephants for less than $20/oz. A year from now they will be selling for double, but you won't catch me selling them.

 

Yikes, the FED said no such thing about not raising rates this year, read the article you posted, that is NOT the FED talking. That article is also almost a month old. Here is a newer article which puts a rate hike at over 50% in Dec. In addition, that was before todays ISM report, which in my opinion almost locks it in. You are right about one thing though, someone did not get the memo.



http://www.cnbc.com/2015/07/29/investors-see-no-chance-of-a-september-rate-hike.html

 

Yet it was Morgan Stanley talking, one of the Fed's Primary Dealers.

Your own link clearly states "In its statement, the FOMC both declined to raise interest rates or provide any clues about when a hike is on the way."

So who should we listen to? The CME is also a primary dealer, but they do not speak for the Fed any more or any less than Morgan Stanley. The difference is that MS made a clear statement, and the CME is playing guessing games.

In either case, the Fed has absolutely delayed the rate hike which was originally slated for September.

 

I wouldn't want you to miss this memo...

http://finance.yahoo.com/news/us-economy-adds-215k-jobs-180401362.html

Also remember your orignal point was the FED CANNOT rasise rate... Period, very similar to you saying the FED CANNOT stop QE.

So when the Fed does raise rates, I would appreciate my deserved Kudos, I would do the same for you, but that is where we differ I guess.

 

Speaking of records, what is gold's biggest one day/month/week move to either side? Anyone have an idea of where I might find that kind of granular a level of information?