May 5 - Gold $1193.80 up $6.20 - Silver $16.56 up 14 cents
"When wealth is lost, nothing is lost; when health is lost,
something is lost; when character is lost, all is lost." . Billy Graham
GO GATA!
As is almost always the case, the price of gold was leaned on at the
standard PLAN A time in London when The Gold Cartel traders reported for
work, but their nudge was thwarted pretty quickly. Gold took off again going
into the Comex trading hours and managed to reach $1200 where it was stopped
dead in its tracks. James Mc early this morning.
Rules are rules
Bill,
Yesterday's circled number was $1186.30, and while gold slightly exceeded it,
and the 1% rule at the end of the day there was a clear gravitational pull
bringing it back. After the 6:00 PM access trade opened it was clearly being
held in check for the next 7 hours right around $1186. Cartel rule #1 is also
apparent today; with the high tick so far exactly today's circled number of
$1198.70. As of 10:10 AM gold is getting the kitchen sink thrown at it at
+1%. As always any big nearby number such as $1200 is irrelevant. It's all
about control, and the fact that $1200 is nearby is just coincidence. The
cartel has proven over and over they will stop gold rallies at ANY number, as
long as it is the prescribed percentage.
As tiresome as it is to talk about there are 2 big looming potholes for
gold. The first arrives this week in the form of NFP Friday which is usually
a cartel biggie. The next one arrives 3 weeks from today on May 26th, which
is June option expiration. If history is a guide I am issuing a full
Washington General warning for both days. Fleecing idiots trading paper gold
and executing MOPE to perfection has been the winning formula for the crooks.
Never mind an exploding trade deficit (with the implications of negative GDP
leading to QE-MOAR) or any other bullish news for gold. For the cartel rules
are rules.
The outrageous manipulation on a daily basis has rendered all analysis
akin to being on a ride through a carnival funhouse. The cartel's use of
distorted mirrors, strobe lights and smoke make any critical examination
virtually useless. Is COT data accurate? Is Comex warehouse inventory data
accurate? What % of Comex trading is merely HFT algos disrupting flow? What %
of the commercials are cartel banks, and what portion are true hedgers and/or
mines? Who is behind the gigantic O.I. in silver? Who is behind the
enforcement of the cartel rules? Just what the hell is going on at Ft. Knox,
or anywhere gold is allegedly stored? As CP pointed out years ago gold
secrets are a higher priority than even nuclear secrets.
James Mc
The silver action is intriguing, when not annoying. Much focus here of
late on that price action and what it all might mean. The biggie today is
that it was stopped again, like yesterday, right at its massive downtrend
line.
After making a $16.68 high, JPM and allies put the damper on the price for
the rest of the Comex session, like they did yesterday. CLEARLY, it must blow
through $16.70 to BEGIN to do what so many of us are waiting for. To get back
into the big leagues silver must then take out $18.50, with the next stop at
$22. Once those objectives have been cleared, silver will have completed one
of the largest bases imaginable, which should support a MOON SHOT.
The next three hours of trading on the Comex will be a predictable yawn .
you can take that one to the bank. The good news is that this week has been a
winner so far and each time the bums slam the gold/silver prices, they refuse
to stay down.
The AM Fix: $1187.40. The PM Fix: $1197.
The gold open interest fell 9002 contracts to 401,699. The silver open
interest was down 2436 contracts to 175,374.
With hours to kill as gold and silver have no chance of getting anywhere
further, it is rant time.
Another six degrees of separation story that might hit home with some Café
members. First off.
Six degrees of separation is the theory that everyone
and everything is six or fewer steps away, by way of introduction, from any
other person in the world, so that a chain of "a friend of a
friend" statements can be made to connect any two people in a
maximum of six steps. It was originally set out by Frigyes Karinthy
in 1929 and popularized by a 1990
play written by John
Guare.
***
Perhaps this ramble may be of assistance and value to Café members. There
is no doubt that Six Degrees theory is valid in so many different ways.
Friday night I began to have a pain in my abdomen and it was hard to
sleep. On Saturday morning the pain was intense on the lower right side of
the abdomen and appeared to be spreading. As a former pro football athlete,
you are trained to overcome pain and move on. Figuring it would go away, I
lifted weights for an hour and then walked a few miles to pick up a pair of
new sneakers (sorely needed).
After having some trouble sleeping Saturday night, the pain was worse when
I got up early on Sunday. I wished I could call my superb doctor of many
years (still a competitive rower and only a few years younger than me). That
is what I would have done if he was open, but not the case on Sunday.
I hate going to hospitals and seeing doctors . did not even have health
insurance until a few years ago. But, had nothing else to do on Sunday
morning, so I thought I should go to Baylor Hospital's Emergency room after
all the whackos had cleared out from too much nonsense on Sat night.
Never have been to an emergency room in my life. Was clueless what to
expect. Figured to be hanging around for hours waiting to be seen . was
prepared for anything. Never was so surprised . the efficacy of their
operation at Baylor was THE BEST. Was seen after 15 minutes. No filling out a
zillion pieces of paper, just the basics of who I was and on to what my
so-called emergency was.
They got me a room quickly, which had to be rearranged because the last
patient was a psycho and they had taken most everything out of the room that
the nutcase could use to hurt the staff. It was amusing watching the orderly
move so much back in to make it feel more than a detention cell.
When taking my shirt off to put on my nightgown, the attending nurse (who
had been asking me numerous health questions) noticed a rash on my lower back
on the right side. "What rash?" I queried. She showed me.
Immediately, she said, "SHINGLES," which made no sense to me. The
pain was in my abdomen, but it WAS only on my right side.
This cool young doctor came in and told me what the drill would be . an
MRI and all blood tests imaginable, and that it would take hours. So, I ended
up watching Law and Order on the tube and enjoyed the morning after being
wheeled around to get MRI'd in this big tube thing.
Thought I was handling it all quite well . possibly in wait for the doctor
to come back and tell me I have an inoperable cancer of the stomach, or that
I would need to be admitted immediately for some other urgent surgery.
Handling it well, right?.
*My blood pressure was sky high on the first go around and the doctor was
concerned (it went back down to a normal area, which it has been for some
time).
*Then could not get into the men's room near me because of a lady in
distress, so I went to the next one. Got lost coming out and ended up at the
other side of the ER layout. When asking where to go, I kept getting sent to
another room, where this lady was dealing with her own issue. What the heck?
Turns out she was a Murphy too. What are the odds of that?
After a few laughs, I was led back to my room and waited for the doctor.
The first few words out of his mouth could change my life forever and there
was nothing to do but wait to hear what the pain was all about.
Before I could think "the dread" further, he opened the door and
quickly said, "All your tests are NORMAL." They were the sweetest
words I ever heard. BUT, he said he thought the nurse was right that it was
SHINGLES, so he gave me some medicine to be taken immediately.
No matter, I was not going on Death Row and didn't have to quickly go home
and get my laptop to do my daily commentary when I woke up from a surgery. (I
actually almost brought it to the ER when I first went in anticipation of the
worst.)
Now, I know how painful shingles is supposed to be. Everyone, for the
right reasons, shudders on hearing of it because it is so painful . BUT
compared to hearing my pancreas, appendix, liver, or kidney was blowing up,
this news was a delight to hear.
Trying to keep this as short as possible, the doctor gave me two meds
(pills) for shingles, which I began to take immediately. One was a steroid of
sorts. What an eye opener. Feeling very good yesterday, I went to my gym. My
weightlifting was the strongest in memory. My bike ride was the fastest in a
long time. No wonder some of these famous athletes hit so many home runs. No
wonder Lance Armstrong did what he did. What I took were three rinky-dink
pills and I could feel the new strength in 24 hours. What a stunner!
On my way out of the gym, I ran into this sharp lawyer whom I have gotten
to know and we did the usual cordial hellos and "How are you
doing?" This time when he did his friendly query, I responded by saying
I spent four hours in the ER at Baylor on Sunday. Naturally, he scrambled over
to find out what was going on.
So glad I brought it up. He then told me that his wife, whom I have met
briefly, had the same thing . shingles, and that the pain was nowhere near
where her rash was, just like me if that is what I have. He went on to say
how painful it was, but she beat it. And, if that is what I have, so will I .
no matter what lifestyle changes that requires.
While in purgatory here, waiting to find out really what I have, my hope
it is that it is SHINGLES, because that is something I can deal with and it
is up to me to beat any immune issues that caused the problem.
What I have learned in this process and perhaps might be of help down the
road to some Cafe member.
*Go to Google about any ailing symptoms you might have. When it came to
what to do about stomach pain, they said follow your gut about whether to go
to an emergency room. What a true hoot that was. The Google drill can give
you some greater clarification of what you are dealing with and how to
respond without wasting time.
*When you have terrible, unexplained pain, deal with it and don't wish it
away. The faster we confront our health demons, which we all have, the better
chance of a satisfactory outcome.
*Don't be afraid of the ER at a major hospital, silly as that may sound to
most of you. I was shocked at how good the experience was. Baylor got right
to my ER issue.
*Thank goodness for quality health insurance. How lucky I was all those
years with my own self insurance program. That could have been a distant
memory, very quickly. My entire ER experience cost $69.
That's it. If all I have is SHINGLES, I am a lucky guy. It can be beat.
Perhaps that old football slogan of "no pain, no gain," learned all
too well making it to a starting wide receiver with the Patriots so long ago,
will take on a new meaning after all these years.
As for Six Degrees of Separation . when I can be directed into another
patient's room by mistake twice, another Murphy, how can this not relate so
quickly to all of us and confirm that fabulous notion. Most important to me
is that it appears that I will be around to do all I can on behalf of GATA to
defeat The Gold Cartel and their heinous price suppression, market
manipulation maneuvers.
On that note, it is ironic that the more GATA is proved correct, the more
we are shunned. It appears that Jack Nicholson's famous quote, "You
can't handle the truth!!" in the movie A Few Good Men, is so apropos for
the mainstream media gold world, leading gold/silver company executives, and
most of the entire gold/silver industry.
And that is the way it appears it will be until this market manipulation
nonsense blows up and the decimated U.S. public is clamoring for answers. An
essence of what GATA has had to say all along is that interference in the
free market process, by manipulating the prices of gold and silver, was going
to end badly because it has ruined free market price discovery. It has been
deliberate and nefarious.
GATA was initiated back early in 1999 to expose the price manipulation
scheme, to inform the public in a myriad of ways . one of those being going
to Congress numerous times. Can you say House Speaker Hastert, or James
Saxton of the Joint Economic Committee, or Ron Paul? We have been there and
done that .including a visit with James Silvia of the Senate Banking Committee.
The meeting with Hastert was on May 10, 2000, nearly 15 years ago.
GATA Delegation Makes Significant Progress in Washington
On Wednesday at 11:30, the Gold Anti-Trust Action Committee consisting of
Chris Powell, Reginald Howe, Frank Veneroso, a State Senator and myself met
with one of the most powerful politicians in Washington. It was only going to
be a 15 minute meeting. It lasted 45 minutes.
At the end of the meeting, we were excused from the room for several
minutes. When the people we met with returned, we were told that they were
going to try and set up a meeting with another influential politician at 2
o'clock, but that we would have to call at 1:30 to confirm.
We were stunned to learn at 1:30 that this politician had said, "I am
aware of the issue," and that he wanted to meet with the GATA
delegation. The meeting took place and six members of his staff also
attended. What was most remarkable is that this politician left the floor of
Congress to attend our hastily arranged, unscheduled meeting.
This politician asked many questions and was very focused on what we had
to say. So much so, that he was annoyed when a staff member left to deal with
some other pending issue, saying that this was more important. He told us he
had read our biographies before coming to the meeting and was a bit taken
aback when he was handed the "Gold Derivative Banking Crisis"
document to him with his name and state on it.
This knowledgeable politician said that he and his staff would look into
our contentions and suggested that we might meet again. After this very
intense one hour meeting, he returned to Congress which was in session.
From there, we went on to meet with Dr. John Silvia, the Chief Economist
of the Senate Banking Committee. I could tell he had spent some time on our
presentation because he had highlighted material that I had sent to him.
Frank, Reg and Chris did a terrific job (as they did in all the meetings)
explaining what we have learned through our extensive research. That meeting
also lasted an hour and Dr. Silvia took copious notes.
Yesterday, I passed out 88 of the documents to the staff of all the
Senators and Representatives on the banking committees. They were told to
look for an open letter to all of them in Monday's Roll Call.
That was some schlep. For the Senate I went to the Dirksen, Russell and
Hart buildings. For the House I went to the Rayburn, Longworth and Cannon
buildings. It took me the entire day, but was well worth it. Congressman Lee
Terry of Nebraska could not have been nicer and said he would read the
document on his way back to his native state this weekend.
I was struck by how different all the buildings were. AND HOW BIG. Most
were about 100 yards long and were circular for traffic flow. I made the
mistake of buying new shoes for the trip. Now, my feet are all blistered. Big
booboo.
My last stop was the Rayburn Building and I smiled as I went by The Gold
Room.
It was the opinion of the entire Gold Anti-Trust Action Committee
delegation that the trip was far more fruitful than any one of us dreamed
possible. However, as we all know, that was just our first salvo. There is
much to be done to win the day and we are already planning our next course of
action.
When our adversaries realize how far we have come, we know that they will
go all out to discredit us. If yesterday's meetings were any indication of
making a serious impact on those who count in Washington, the other side has
their work cut out for them!
Bill Murphy
***
Our afternoon meeting was with Spencer Bachus, Chairman of the House
Subcommittee on Domestic and International Monetary Policy at the time.
So where are we now, almost 15-years later? That will depend on who you
talk to.
Taking on the richest and most powerful people in the world is not an easy
task. Never in my wildest dreams did I believe GATA could have come up with
so much documentation about how valid our claims are and have it so ignored.
No one in the world could have done a better job at documenting the evidence
of the gold price suppression scheme than Chris Powell. No finer guy than
him, or more dedicated and diligent in getting the facts out there.
Think about it. GATA has held four incredibly successful conferences; in
Durban, South Africa; in Dawson City in The Yukon; right outside of Washington,
D.C.; and in London at the Savoy Hotel, which 400 people attended from 38
countries. To a person they said it was the finest conference they ever
attended.
Little did all of us know at the time what The Gold Cartel had in mind, as
that was in August of 2011. One month later, gold soared more than $260 to
over $1900 and has been going down ever since.
At the same time, other asset prices have soared due to money creation.
What no one EVER asks in the mainstream Muppet world is why would gold and
silver get bombed at the same time other assets as stocks, diamonds, real
estate, and art took off? The incongruity of it all makes no sense, unless
you know what GATA knows and the enormous effort that The Gold Cartel is
doing to affect their own reality. That (their) reality will go on until the
blowup, which is only a matter of time.
So, GATA carries on to win the day on all this nonsense, which is going to
hurt so many innocent people who have no idea what the rich and powerful have
done to enrich their own fortunes. Few seem to care at the moment what GATA
has to say, BUT THEY WILL when all heck breaks loose.
GATA will win the day in the end and we need your support to carry on.
What we are dealing with is historic. and will DWARF the Madoff and Enron
scandals, etc. in terms of the enormity of it all.
At some point GATA's efforts are going to prove out by revealing how
thwarting the free market process was disastrous. You never know exactly when
our efforts will pay off for all of us who believe in exposing the truth
about the financial world's machinations. With all so copacetic for the
moment, few care. As said, that is all going to change.
GATA needs your help to spread awareness about what is really going on
behind the scenes. Most everyone is clueless. Despite what we are
encountering, GATA intends to carry on . and, as we do, it will expose the
biggest financial scandal in American history.
The facts could not be clearer right now of what GATA explained when we
went to Washington in 2000. Back then this topic was not even on the radar
screen. To win the day we need your support to keep on keepin' on. Having
stayed on this obvious mission for so long, it is only a matter of time now
before the importance of what GATA has claimed for so long makes it to center
stage. The rich and powerful will not change their stance, but as things get
ugly for the regular people like you and me, they are going to demand answers
to the dramatic chaos.
We need some firepower to deliver that message to the world as it manifests
itself. The world will want to know what happened and why, hopefully so it
does not happen again. From what I know, all of us support various causes
because we believe it will make a difference. While so few care now, thanks
to the decimation of the gold/silver industry, courtesy of the antics of The
Gold Cartel, GATA is still standing tall and telling it like it is.
If you agree and want to support GATA's efforts, go here:
http://www.gata.org/node/16Going
to send this to zerohedge because it is a prominent truth teller and a
brilliant resource. May this be another feather in their cap. If anyone in
zerohedge land would like to chat further on this monumental issue, you can
reach me at midasnh@aol.com.
***
As expected many hours ago, it was a vintage Gold Cartel day ... total
lockdown ... and that was despite a weak dollar, oil rising above $60 per
barrel, and a stock market that was crushed. As usual, nothing matters except
what The Gold Cartel can get away with. James Mc had it pegged at 9:30 this
morning.
The shares didn't like the action either. The XAU lost .53 to 72.93. The
HUI lost 1.30 to 178.71.
Guess it was a good day for a rant.
MIDAS
Bill Murphy
www.Lemetropolecafe.com
