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As I have written exhaustively this week, I believe the primary motivation of Friday’s “FEBRUARY NFP FARCE” was defending the Cartel’s line in the sand at the KEY ROUND NUMBER of $1,750/ounce gold, and secondarily silver’s 200 DMA at $35.43/oz, as the two have been trading hand in hand below these levels for weeks.  TPTB KNOW the financial system is at the precipice, fully realizing how quickly CONFIDENCE in fiat currencies can collapse once the public realizes, en masse, “the jig is up.”  Which is probably why the FBI issued a statement today warning of extremists, who “may refuse to pay taxes, defy government environmental regulations, and believe the United States went bankrupt by going off the gold standard.”

Believe In A Return To The Gold Standard? You Are Now Officially An Extremist According To The FBI

Since “D-DAY” on November 9, 2010 – the first time I saw genuine FEAR in the Cartel’s eyes, we have experienced increasingly blatant, draconian, premeditated “named storm blitzkrieg” attacks to slam PAPER gold and silver, in increasingly tight time intervals.  Long-time readers recall my tables last year chronicling the same pattern of narrowing attack intervals, setting up the August 2011 EXPLOSION of gold to $1,920/oz and silver to $45/oz upon the commencement of Global Meltdown II.

Some of these attacks are true named storm blitzkriegs, such as D-DAY and the SUNDAY NIGHT PAPER SILVER MASSACRE, but the rest were relatively minor in comparison.  However, up until July 2011, they were clearly the largest smashes we had seen in years, making this table quite appropriate, and in hindsight, prescient.

Today, it occurred to me we are now seeing a similar pattern of narrowing time intervals – and reduced effectiveness – of the named storm blitzkriegs themselves, a far more ominous pattern for the Gold Cartel.  Like a hopeless drug addict, the DOSES need to be dramatically increased, and the INTERVALS similarly decreased, to prevent crashing.  The patient dies either way, but increasing dosage intensity can “kick the can down the road” a bit further, so to speak.  Thus, I have put together a similar table chronicling the MAJOR Cartel attacks of the last 15 months – i.e. named storm blitzkriegs – as well as evidence of their obviously DIMINISHING RETURNS.

That’s a LOT of firepower expended in the name of suppressing gold, which irrespective is $325/oz higher than on “D-DAY”, and silver, which is $5/oz higher.  Notice the past two attacks commenced within hours of gold breaching the KEY ROUND NUMBER $1,750/oz, which I firmly believe is the strongest Cartel line in the sand I have seen in ten years of tick-for-tick observation.  Quite ominous for the Cartel, as it took just 57 days to recapture $1,750/oz after “OPERATION PM ANNIHILATION II” in early December, but just TWO DAYS after Friday’s “FEBRUARY NFP FARCE.”

Today was an extremely interesting day, out of the ordinary in many ways.  As you can see above, it started the same as usual, with gold rising steadily all night until EXACTLY 3:00 AM EST.  I also observed the same pre-market walk down as always while at the gym, as well as the inverse walking up of the Dow.  For the second day in a row, European markets were down sharply on “Greek default fears,” with Dow Futures once again down by significantly less.  And for the second day in a row, both rallied when the NY PPT arrived at work, for absolutely, utterly no reason, while gold was kept under severe pressure in a maniacal attempt to turn Friday’s “FEBRUARY NFP FARCE” into a major, multi-week takedown.

I wrote this morning that I didn’t think such an attempt would materially impact the price, particularly given that gold’s 200 DMA had risen to $1,665/oz, and the table I published above further reinforces that belief.  Following today’s surge, this forecast, too, is looking prescient.  Notice how gold actually took off at the 12:00 PM EST “cap of last resort,” something that rarely, if ever, occurs, even more impressive that it actually ran up to the KEY ROUND NUMBER of $1,750.  As you can see, the Cartel spent the last hour of trading viciously defending their $1,750/oz line in the sand, but for all intents in purposes were soundly defeated, completely negating the “FEBRUARY NFP FARCE” in both gold and silver, which rose $0.58 to $34.30/ounce.

As for the MINING SHARES – peeuuww.  Given today’s incredible gold and silver price action, the Cartel simply stepped up its attack on the helpless mining shares, particularly large cap stocks residing in the widely watched HUI index.  I’ve noted for years that one of the most important Cartel “rules” is to never allow gold, silver, and the shares to simultaneously move up sharply, lest too much momentum might build up.  And thus, with gold and silver up nearly 2% (capped as usual), oil up sharply, and the Dow up 33 points, the HUI was DOWN 0.6% for the day.

Speaking of the Dow, as usual it’s losses were stopped cold minutes into NYSE trading by the omnipresent PPT, which walked it up for the rest of the day – on no volume, as always – to a modest gain.

As you can see by the below article, the blatant GLOBAL PPT stock market support couldn’t be more evident, as equities continue to outpace the more telling credit markets by a wide margin.

Equities And EURUSD Outperform As Divergences Increase

As for the actual NEWS of the day, who cares, right?  I mean, the PPT will be able to pay off Greece’s debt, increase real employment, raise home prices, prevent WAR with Iran, and stop global Central Banks from buying PHYSICAL gold and silver, right?


It’s only a matter of time before the system permanently implodes, built entirely on exponentially growing debts and deficits, held up entirely by printing money, manipulating financial markets, and LYING about everything from economic data to Iran’s military intentions.  Although, as noted yesterday, there is one thing the U.S. is not bashful talking about – its OWN desire to attack Iran, likely launching World War III in the process.

Obama Freezes Iranian Government, Central Bank Assets

This morning started with the usual blustering out of Europe, as the GUARANTEED Greek default moves closer each day, by my forecast no later than the March 20th deadline for its €13.5 billion bond payment.  First we saw the usual “hopium” about an imminent deal…

The Latest Hopium Recap Out Of Greece: Now 100% Recyclable

…only to see such hopes immediately dashed by essentially everyone involved, with new meetings (ugghh!) now scheduled for tomorrow (Wednesday).

Unadjusted Consumer Credit Soars By Most Since Peak Of Credit Bubble In August 2007, Third Highest Ever

Without Germany, there is simply no chance for a bailout of Greece or ANY of the PIIGS, and it doesn’t sound like either the people of Germany…

Spiegel: “It’s Time To End The Greek Rescue Farce”

…or the Chancellor herself are willing to participate.

Frau Merkel Summarizes The Situation

Heck, Merkel is outwardly begging for the UK – pound for pound, the most indebted nation on Earth – to help out, even though just two months ago it elected to NOT join the European Union!

EU treaty: David Cameron’s veto creates new era for Europe and Coalition

And how about this headline, published well after NYSE trading ended Tuesday afternoon?  There is not a chance in the world of Greece getting bailed out now….

Greek Economy Implodes: Budget Revenues Tumble 7% In January On Expectation Of 9% Rise

…particularly when the only nation on Earth with (non-PRINTED) currency reserves is rapidly racing away from European investments!

China Bail Out Europe? Quite The Opposite Actualy, As Chinese Banks Cut European Exposure

As for the equally hopeless United States of Debt, Inflation, and Imperialism, Quivering Lip Bernanke walked into the Senate and started talking just minutes before gold and silver took off, once again validating his title of “goldbug’s best friend.”

Ben “CTRL+P” Bernanke’s Open Mouth Is (Still) A Goldbug’s Best Friend

Two weeks ago, “Exit Strategy” Bernanke officially endorsed “QE to Infinity,” and today “kept to his message of caution, warning a Senate panel that sharp spending cuts and tax increases scheduled to take effect in early 2013 could slow the nation’s economic recovery if Federal officials do not take further action.”

Oh yeah, Bennie, what “further actions” should they take to offset spending cuts and tax increases (which, by the way, will never happen)?

Here’s my guess, in two simple words:


Bernanke tells Senate: Focus on growth now, deficit cuts later

Before I stop for the evening, I want to endorse the entrepreneurs creating the full length, animated motion picture “Silver Circle,” an action-adventure flick about a post-dollar collapse society in which PHYSICAL silver is king.

Per their new email today, “We’re gaining momentum and our release date will be unveiled, hopefully, by this time next month. We can promise Silver Circle will be here before the election season wraps up, which is very important to us. We want to keep the conversation focused on the Federal Reserve!

Please check out their website below, and support this effort as strongly as possible.  I believe it will be a fantastic, eye-opening movie, potentially embraced by the public-at-large with the help of good timing.

Silver Circle Movie