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For Gold, Friday’s COT Report Is Huge

by John Rubino on April 18, 2013 | Dollar Collapse

The dominant explanation (in the sound money community at least) for the precious metals crash is, well, sabotage. The metals exchanges were running out of physical product and faced imminent default, so the major governments via their money center bank proxies sold tens of billions of dollars of gold and silver futures contracts, forcing prices down and triggering stop-loss orders and margin calls that produced Monday’s epic bloodbath.

These short positions were then covered at huge profits for the manipulators, leaving nothing but smoking rubble where prosperous gold-bugs used to live. It’s a compelling story with a lot of circumstantial evidence to back it up. But one piece of concrete data is needed for this narrative to win out: The Commitments of Traders Report that will be released on Friday at 3:30 EST by the US Commodities Futures Trading Commission (CFTC) has to show massive short-covering by the big banks. Here’s a more complete explanation from silver analyst Ted Butler:

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the stranger's picture

History In The Making

The Nothing is coming into view...

http://www.plata.com.mx/mplata/articulos/articlesFilt.asp?fi...

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/...

http://www.tfmetalsreport.com/blog/4643/history-making
Excerpt
SCENARIO #2
This is the end of the fractional reserve bullion banking system. Consider this extraordinary decline, not from the perspective of technicals, quantitative easing or fundamentals. Consider these factors, instead:
Extraordinary physical deliveries, not just through London but also every other major global center including Shanghai.
The record Q1 depletion of Comex gold reserves.
The nearly 200 metric tonnes removed YTD from the GLD.
The record pace of demand for metal from the U.S. Mint.
The record premiums for bullion, even "junk" silver.
The "official' reported Chinese importation of 90 metric tonnes in February alone.
The destruction of the Kennecott mine in Utah, which in 2012, produced 25% of the U.S.'s copper, 5,000,000 ounces of silver and 500,000 ounces of gold.
And perhaps most significantly for this discussion: The DEFAULT of ABN Amro two weeks ago.

Cyril's picture

Some may want to keep an eye on the major indices, too...

Some may want to keep an eye on the major indices, too... Something is shaping oddly (well, not so odd a pattern, in fact):

http://www.dailypaul.com/282668/daily-trader-oscar-carboni-p...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Any updates on the COT report?

Does anyone know where to find the COT report?

I bought on the way down at 26 and 24. But I missed the bottom at 22.15. Too hard to catch the bottom : /

the stranger's picture

you did fine -

- tops and bottoms are for lairs and fools

The $2 Quadrillion Woman! She takes your credit when due.

What the DTCC Brand Means to Clients, Marie Chinnici-Everitt Chief Marketing Officer

Shy? let Reuters News service put you at ease. DTCC Appoints Marie Chinnici-Everitt Chief Marketing Officer Apr 18, 2012. $2 Quadrillion yearly (see footnore):
DTCC, through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC’s depository provides custody and asset servicing for almost 3.7 million securities issues from the United States and 121 other countries and territories, valued at US $39.5 trillion. In 2011, DTCC settled nearly US$1.7 quadrillion in securities transactions. DTCC has operating facilities and data centers in multiple locations in the United States and overseas. For more information, please visit www.dtcc.com.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

DTCC.com

Is owned by, you guessed it. The Federal Reserve.

DTCC is the actual LEGAL owner of every publicly issued stock share in the United States. Read that again. They are the ACTUAL OWNERS. Not you, not directors of the board, not the banks, banking houses, stock trading companies, no one. DTCC is the ACTUAL LEGAL OWNER of every share of stock of every public company in the United States.

When "stocks" are bought and sold on the market, what is actually bought or sold are beneficiary rights issued against the actually, legally owned stock.

Fortunately (for now,) that makes the beneficiary owner the effective owner, but that's merely current statutory policy, as the actual, legal owner remains the DTCC. If policy changes, your effective ownership could also change.

In other words, this nation's "capitalist" system is actually communism (all shares of all public companies owned by the government) that happens to currently allow "capitalism" under the current policy of those rights afforded by statute to beneficiary owners.

Truth is often stranger than fiction.

the stranger's picture

strangerr than fiction

yeah, I found this revelation to be as damning as any other that yells "the system is a rigged"

Oh, the pain Will Robinson, the pain...

This nation's capitalist system is actually

the black market.

the stranger's picture

so true

I need to take the time to agree with your comment, since that usually just isn't possible.

Who done it? Who did what to whom when, legally tenderly?

DTCC Short Stories, by Mark Twain, Collector Edition, US cash flows lead to Depository Trust Credit Clearing, NY NY.">

  • DTCC clears most payments. $2 quadrillion each year. 01/29/2013
  • $2 quadrillion? Right here in NY City! DTCC.com 01/24/2013
  • $2 Quadrillion footnote about 55 Water Street flooding DTCC 12/01/2012
  • $2 Quadrillion, as a river flowed through. 55 Water Street flooded DTCC 12/01/2012
  • $1.66 Quadrillion Cash Flow Run by One Company. DTCC.com 04/08/2012

Follow your money. Your credit credit is cleared here along with $2 Quadrillion annual cash flow. Your buck flows through.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Cyril's picture

BUMP.

BUMP.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

i say let them manipulate the price into the floor

More for me...

But yea, it was CLEAR that the bullion banks were about to force meujure the contracts... so to prevent a confidence crisis in paper they manipulated the price down to force margins calls.

It will be interesting to see how many small traders paid the margin and are still waiting it out. To me it's fairly risky at this point to pay the margin since many are saying an MF global style default is just around the corner.

Tools of war are not always obvious. The worst weapon is an idea planted in the mind of man. Prejudices can kill, suspicion can destroy, and a thoughtless, frightened search for a scapegoat has an everlasting fallout all of its own.

Cyril's picture

I heard what's suspected is a deal between hedge funds & banks

I heard what's suspected is a deal between hedge funds and (bullion) banks.

The former accepting to go to the rescue of the latter only if the PMs would be smashed down low enough.

Also, that it can't last long and something/someone gonna have to give/let go, eventually, in the other direction of a true "correction" this time.

Source:
http://youtu.be/vfZge-ta2S0

P.S.
IMO, I can't help but think that only very few ever knew this was coming, likely among TPTB in their ivory towers, of course. Others may have predicted it just out of mere luck. "Bear."

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

This has been predicted for quite a while it seems

this is back from 2012-11-27
https://www.goldbroker.com/news/cme-comex-delivery-default-d...

and this from mar 6th
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/...

4-10
http://silverdoctors.com/force-majeure-inevitable-as-silver-...

Tools of war are not always obvious. The worst weapon is an idea planted in the mind of man. Prejudices can kill, suspicion can destroy, and a thoughtless, frightened search for a scapegoat has an everlasting fallout all of its own.

Cyril's picture

Ah, thanks for the links.

Ah, thanks for the links. Missed those.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

ecorob's picture

Great info here...

break the matrix!

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

It's pay back time for the criminals

http://www.youtube.com/watch?v=QGZ5f1G1Ep0&feature=youtu.be

Surviving the killing fields of Minnesota

Todays brainwashing: GMO's are safe

Except that the CFTC head

Is a Goldman Sachs guy..

news flash...

they are almost ALL "Goldman Sachs" guys. Virtually every bank head across Europe, most of those in key positions here in government and banking, etc. "Follow the money" and "follow the resume" clearly show the links.

I'm all for not lumping people into collectivist groups and subscribing to that herd mentality, but let me tell you... when this all finally blows, I for one am DARN SKIPPY glad that I've got no taint of every working with or for certain banks or groups, and I can at least understand the throught process that starts to go into a "blame the XXX race" when it manifests. Is it right? No, it's not. But for many, it's as far as their thinking is going to go when the rage takes over. :-|

Try them as individuals. Free the animals imprson them in zoos.

-

Free includes debt-free!