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Maguire: This Triggered Today’s Massive Selloff In Gold & Silver / October 31, 2014

Today London metals trader Andrew Maguire spoke with King World News about exactly what triggered today’s stunning and massive selloff in gold and silver.  Below is what Maguire had to say in Part II of an extraordinary series of interviews being released today on KWN.

Eric King:  “Andrew, we are seeing a continuation of the smash in gold and silver.  What are your thoughts here as you are watching this?”

Maguire:  “First thing this morning, after the Bank of Japan decision, things got a bit roiled.  But what I did see was a fully-timed algorithm kick off at exactly 7 AM U.K. time.  There is only one seller that can come up with 50 tons of paper gold in a matter of 3 or 4 minutes and that is the Bank for International Settlements….

Continue reading the Andrew Maguire interview below…


The “Carry Trade” For The Working Man /

What today’s JPY-carry-trade-enabling Bank of Japan exuberance means to the ‘average joe’…


Off the Cuff: Japanese Central Bank Throws Granny Under The Bus

ChrisMartensondotcom, Published on Oct 31, 2014

This one was so good, we’re making it public!

In this week’s Off the Cuff podcast, Chris and Mish Shedlock discuss: – The expected but shocking Japanese central bank decision – Increasing central bank desperation – How central banks transfer wealth from the masses to the few – The impact on gold and silver prices

In this podcast Chris and Mish let their guard down and say a few choice words about the actions of central banks that obviously and seriously harm average people all in the service of assuring that banks and governments can continue to operate as they have in the past.

The invention of political reality / by Jon Rappoport / November 1, 2014

From the 2010 Rockefeller Foundation brainstorming exercise, “Scenarios for the Future of Technology and International Development” (pages 18 – 19):

“In 2012, the pandemic that the world had been anticipating for years finally hit… national leaders around the world flexed their authority and imposed airtight rules and restrictions, from the mandatory wearing of face masks to body-temperature checks at the entries to communal spaces like train stations and supermarkets. Even after the pandemic faded, this more authoritarian control and oversight of citizens and their activities stuck and even intensified. In order to protect themselves from the spread of increasingly global problems—from pandemics and transnational terrorism to environmental crises and rising poverty—leaders around the world took a firmer grip on power.”

As you read this article, keep in mind that the Rockefeller Empire is very much a medical empire.

The Rockefeller Foundation, along with the Carnegie Foundation, changed the course of modern medicine, reinventing it as a global pharmaceutical colossus, whose rationale was: kill germs.

Therefore, every so-called viral epidemic, hyped to the hilt, assists in the promotion of the germ as the invisible terrorist, thereby reinforcing toxic medical drugs as the only answer for humankind.

Every phony epidemic also helps to engender a larger and tighter medical surveillance system for the world—much like a medical NSA.

The infamous Trilateral Commission (TC) still exists.

Many people think the TC, created in 1973 by David Rockefeller, is a relic of an older time.

Think again.

Patrick Wood, author of Trilaterals Over Washington, points out there are only 87 members of the Trilateral Commission who live in America. Obama appointed eleven of them to posts in his administration.

The original stated goal of the TC was to create “a new international economic order.” Knowing that you have to break eggs to make an omelette, consider how the following TC members, in key Obama posts, can help engender national chaos, and install binding international agreements that will envelop our economy and money in a deeper global collective: a new world order:


“Troubling Trend” NATO Warns Russian Military Aircraft Incursions Worst Since Cold War /

Over the last 2 days, more than two dozen Russian military aircraft, in four groups, were tracked and intercepted conducting aerial maneuvers around Europe, according to NATO. As The Wall Street Journal reports, this activity is on a scale seldom seen since the end of the Cold War, prompting NATO jets to scramble in another sign of how raw East-West relations have grown. “There is a troubling trend… of sabre rattling” warned The White House, noting that NATO has intercepted over 100 incursions by Russia year-to-date to which the US Army chief of staff ominously warned, this is “Russian aggression,” and “we have to reassure our allies.”

A photo released Wednesday by the Norwegian Air Force shows what it said was a Norwegian F-16AM Fighting Falcon, left, accompanying a Russian Tupolev Tu-95MS at an undisclosed location


The American ‘bumping, tumbling’ Empire

RT, Published on Oct 31, 2014

Watch the full Keiser Report: Saturday

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss how, in the words of Laura Ingalls Wilder, once you begin being naughty, it is easier to go and on and on, and sooner or later something dreadful happens. And in a world of very naughty bankers, many dreadful things have happened. In the second half Max interviews Dan Collins of about the emerging post-dollar order as evidenced in the newly launched Asian Infrastructure and Investment Bank and the Shanghai-Hong Kong Connect scheme. They also discuss how in China Jim Rickards went viral and how steel costs as much as cabbage.

Gold Daily and Silver Weekly Charts – Good Morning Fiat Nam / 31 October 2014

It is a mistake to underestimate the depths of self-serving policy error to which Wall Street and the ruling elite will sink in order to kick the can down the road and maintain their positions of privilege. Every time I think they can go no further, I am surprised. Shame on me.

The Fed has never seen a bubble it didn’t like. And if the trickle down isn’t working, keep doing the same thing, but even more. Tempting fate doesn’t begin to cover it.

There was intraday commentary here. Although I do not mention it, there may have been a veiled message in there for the people of Switzerland, to comply and conform their domestic policies to the monied interests.

Try to remember those who have passed away on this weekend, as has been the fourteen centuries long tradition in western Christian culture on All Saints’ Day, when in 610 AD Boniface IV consecrated the Pantheon in Rome to the memory of Mary and the martyrs. And you might have a mind for those who remain in the struggle for justice and righteousness, All Souls, on the day after. I will remember you, as always.

Quaintly foolish notions these days, I know, among those who would be as gods, or perhaps already are, at least in their own minds.

And may the odds be ever in their favour.


Saxobank CIO Warns USDJPY Could Hit 135 On “One Trick Pony” BoJ Desperation

The BoJ’s QE move is a desperate measure that will hurt the yen and the spending power of the population. Photo: Thinkstock / 

The Bank of Japan has increased the targeted monetary base from JPY 60-70 trillion to JPY 80 trillion an increase of 25-35% and an almost desperate move to keep the Abenomics’ wheels going.

The decision is quite controversial as the vote was a narrow 5/4. This is extremely unusual as big decisions like these are generally only done with full consensus, but it clearly shows Abenomics is running out of time and room as core-inflation, excluding tax, was at 1.1% vs. the 2.0% target.

The International Monetary Fund has been critical of Abenomics recently telling Japan that is falling short of helping the economy.

From a market perspective the move today was almost perfectly timed coming on the heels of a Federal Open Market Committee meeting which ended quantitative easing and expose the big difference on future monetary paths between the BoJ and the Fed.

Dark side

There is, however, a dark side to this big move.


5 Things To Ponder: “Spooky” Things / Lance Roberts / 31 October 2014

I love this time of year, in particular it is the festivities surrounding one of the biggest commercial shopping days of the year – Halloween. According to Wikipedia:

“Halloween, or Hallowe’en, is a contraction of “All Hallows’ Evening”,also known as Allhalloween, All Hallows’ Eve, or All Saints’ Eve, and is a yearly celebration observed in a number of countries on 31 October, the eve of the Western Christian feast of All Hallows’ Day.

Halloween initiates the triduum of Allhallowtide, the time in the liturgical year dedicated to remembering the dead, including saints (hallows), martyrs, and all the faithful departed believers. Within Allhallowtide, the traditional focus of All Hallows’ Eve revolves around the theme of using “humor and ridicule to confront the power of death.”

According to many scholars, All Hallows’ Eve is a Christianized feast initially influenced by Celtic harvest festivals, with possible pagan roots, particularly the Gaelic Samhain. Other scholars maintain that it originated independently of Samhain and has solely Christian roots.”

However, most importantly, it is a great time to spend with family and friends, dress up in costumes and over indulge in the many “treats” that come along with the celebration.

I thoughts this weekend’s reading list should maintain the focus of “scary” ponderances now that the Federal Reserve has ended their latest monetary iterations.  So with that said, grab a Reese’s or two from your kids treat bucket and enjoy this weekends “5 Things To Ponder.”

1) Zombie Land, USA by Elizabeth MacDonald via Fox Business

Historic bailouts have increased the number of corporate zombies living off of easy money, hindering restructurings and holding back the expansion of healthier companies, restructuring experts here and in the U.K. warn.

“Capital is not being recycled and reinvested, impeding the “creative destruction” process Austrian economist Joseph Schumpeter says is vital for any healthy economy.  Executives at big accounting firms like Ernst & Young have also warned zombie companies are grabbing market share from healthy companies.”

2) The Fed’s Lack Of Conviction Is Warranted by Mohamed El-Erian via Bloomberg

Fed officials welcomed the continued improvement in the economy, particularly signs that the underutilization of labor resources is gradually ‘diminishing,’ though only ‘gradually’ despite ‘solid gains and a lower unemployment rate.’ On the second element of its dual mandate — stable inflation — the central bankers acknowledged the fall in market measures of forward inflation but played down the risk of damaging deflation by also pointing to other metrics of inflationary expectations.

This apparent lack of conviction, while frustrating to many, is understandable and warranted.


Are Americans Ignorant or victims of Yellow Journalism? / by Martin Armstrong /

Reuters has published the result of what is being touted as the Ignorance Index. The one question as an example: “Guess how many U.S. girls aged 15-19 give birth each year. Go ahead, guess. If you calculated the number at 3 percent you’re correct; if you guessed 24 percent, you’re American.”

I rarely watch TV. If I do, it tends to be national news – never local news who seem to think a burning house is news or some guy shot his wife in a domestic dispute. I was at dinner and the TV was on. I could not believe the TV advertisements for the elections. They are all NEGATIVE calling the other a liar or misrepresenting the facts on everything. One said the candidate cut the number of police, made the streets more dangerous and then shows a picture of ISIS and then said she raise taxes. Then the very next advertisement flips and calls the other a liar for something or another. There was ZERO advertisement about anything other than vote for me because I lie less that the other liar.

It seems that the Ignorant Index may be more tied to the bias and lack of integrity of the media. They focus on sensationalism to gain readership and in the process focus of one thing and create false images in the minds of the average person.


Meet “Rolling Jubilee” – The Group Buying & Tearing-Up Student Loans /

An offshoot of ‘Occupy Wall Street’ is taking the $1.2 trillion student loan bubble, debt servitude dilemma of America’s youth into its own hands… bit by tiny bit. As The BBC reports, activist group ‘Rolling Jubilee’ wants to “liberate debtors” by buying student-debt-bundled ABS on the secondary market (where they trade at significant discounts) and writing off the underlying loans. As Rolling Jubilee notes, “your debts are on sale… just not on sale to you,” until now.

Rolling Jubilee says the problem lies deep within the structure of the education system and the way that selling education as a commodity reinforces inequality.

“It is documented that they end up worse off and have no better chance of getting work than if they simply finished high school,” she says.

This week, the Federal Reserve chief Janet Yellen warned the quadrupling of the student loan debt since 2004 represented a barrier to social mobility.


COT Gold, Silver and US Dollar Index Report – October 31, 2014

Gold COT Report – Futures
Large Speculators Commercial Total
Long Short Spreading Long Short Long Short
195,885 95,146 39,781 146,345 245,209 382,011 380,136
Change from Prior Reporting Period
-11,244 -3,999 9,013 6,916 882 4,685 5,896
130 93 73 53 54 214 198
Small Speculators  
Long Short Open Interest  
32,399 34,274 414,410  
-1,332 -2,543 3,353  
non reportable positions Change from the previous reporting period
COT Gold Report – Positions as of Tuesday, October 28, 2014 / 31 October 2014

The COT reports which we look at each week provide a breakdown of each Tuesday’s open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC.   The weekly reports for Futures-and-Options-Combined Commitments of Traders are released every Friday at 3:30 p.m. Eastern time.  The short report shows open interest separately by reportable and Non-reportable positions.  For reportable positions, additional data is provided for commercial and non-commercial holdings, spreading, changes from the previous report.

Futures and Options Combined

What does this title mean?   A future is a standardized contract traded through regulated exchanges where an investor buys or sells a contract at a specified price for a specific date in the future.   The price includes the interest charge due to the seller by the buyer from the date of the contract to the due date.   An option is the ‘right to buy or sell’ a contract at a fixed date in the future at a specific [strike] price.   The difference is that a futures contract is an agreement to buy or sell, whereas an option gives the holder the right to buy or sell.  An option holder can decide not to take up that right and will only lose the cost of buying the option.   His loss is therefore definable at the start of his investment, while the potential profit has not limit to it.   A futures contract is usually leveraged [a loan provided] up to 90% of the contract.   However, with the owner liable to top up his ‘margin’ to maintain this 10% his potential losses can rise far higher than his investment.  A ‘long’ [buying] contract limits its loss to the full price of the item, whereas the ‘short’ [selling] contract has no limit except the height that the price of the item can rise to.

The Commitment of Traders report [COT] is therefore a report on the overall position of the Commodity Exchange [COMEX or NYMEX].


Japan: QE As Morphine For A Terminal Patient

Marion Post Wolcott Works Progress Administration worker’s children, South Charleston, West Virginia Sep 1938 / by Raúl Ilargi Meijer / October 31, 2014

You can jot down Halloween 2014 in your calendar, and it’s unfortunately too tragic to make proper use of the irony involved, as the day Japan committed suicide. The sun is no longer rising. Not that the vital signs weren’t bad before, indeed it might not have survived regardless, but this lethal blow announced today is still quite the statement.

That financial markets interpret it as a reason to cheer and party and make lots of dough is yet one more proof of how shallow and single-minded the people operating in these markets are, lacking all insight in historical context, longer term consequences, wars and politics, and the human mind.

Because the ‘QE as morphine’ concept introduced today by the megalomaniac Shinzo Abe and his central bank raving mad puppets will change the world in ways that make financial gain less than even an afterthought, except perhaps for those of us who cannot see beyond today, or beyond the one single lonely dimension money is of any use in.

If and when a country resorts to having it central bank buy up – the equivalent of – all sovereign bonds it issues, the snake truly eats its tail, and not in a metaphorical sense. Japan eats it children, most of them as yet unborn, to keep its rapidly ageing population contented and in relative wealth, because the alternative would cost Tokyo’s financial-political power cabal their jobs and heads.


Meanwhile, The French Are Revolting… / by Tyler Durden on

Amid record unemployment, even recorder youth unemployment, and politicians willingly breaking EU treaties (with apparently no consequences), it appears – just as in the US – police brutality in France was the straw that broke ‘Le Camel’s back. As RT reports, another anti-police brutality protest turned violent in the French city of Rennes, with masked youths and police engaging in running street battles. The unrest follows the death of a young environmental activist earlier this week. Overnight Thursday, protesters in the northwestern city lobbed flairs at police and flipped over cars, some of which they set ablaze. Police responded by firing tear gas. We hear guillotines are still cheap on ebay.


Billionaire Eric Sprott Says Stock Market Will Crash, Not Gold / October 31, 2014

With the mainstream media celebrating new highs on the S&P and the Dow, and gold and silver trashed for a second day, billionaire Eric Sprott told King World News that it’s the stock market that is going to crash, not gold.  Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in Part II of a remarkable series of interviews that will be released today.

Eric King:  ‘Eric, we are in the midst of this smash in gold and silver, and we have the stock market and the dollar doing what they are doing.  What do you expect for the rest of this year, once the dust settles?”

Sprott:  “Well, God knows when the dust settles, but what I’ve expected for a long time now is that the basic fundamentals for gold and silver will win the day.  That hasn’t happened yet.  It hasn’t happened because entities have financial weapons that they can use on these commodity exchanges and the physical buying hasn’t gotten to a point where we have the failure (of an exchange to deliver)….

Continue reading the Eric Sprott interview below…


New Home Sales Are Tanking / By David Kranzler / October 31, 2014 

RealtyTrac’s data shows that sales of lower priced houses, those most likely to be first-time purchases, have “fallen through the floor.  It’s the clearest demonstration of a first-time buyer affordability gap.”  And without first-time buyers there will be no buyers able to move to their second home and so on up the tiers.  (Link)

Mortgage purchase applications dropped 5% week over week two weeks in a row, for the latest week’s report (Oct 24).  Bloomberg was uncharacteristically spin-free in its assessment:  The big drop this month in mortgage rates has yet to raise demand for purchase applications which, in the October 24 week, fell a sharp 5.0 percent for the second straight week. And the trend for purchase applications is suddenly moving lower with the year-on-year rate now at minus 15 percent.


RANsquawk – Weekly Wrap – 31st October 2014 / by RANSquawk Video on 10/31/2014 15:03


Koos Jansen: The great Chinese silver market debate / CHRIS POWELL / 31 OCTOBER 2014

Dear Friend of GATA and Gold:

China gold (and silver) researcher and GATA consultant Koos Jansen explains today why silver is not really trading in Shanghai at a premium to London, contrary to what is widely reported. Jansen’s analysis is headlined “The Great Chinese Silver Market Debate” and it’s posted at Bullion Star here:…


Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 4% on the Week / By Chris Mullen / 31 October 2014

The Metals:

Gold dropped $37.02 to $1161.68 by late morning in New York before it edged back higher in afternoon trade, but it still ended with a loss of 2.19%. Silver slipped to as low as $15.805 and ended with a loss of 2%.

Euro gold fell to about €936, platinum lost $8 to $1232, and copper fell slightly to about $3.05.

Gold and silver equities plummeted about 7% at the open before they bounced back higher at times, but they still ended with about 5% losses.