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XMFSinchiruna (26.56)

Plunge Protection Team - Coordinated manipulation of Oil, Gold, and USD markets has never been clearer! Charts don't lie.



July 16, 2008 – Comments (16)

Administration officials are publicly trying to rally support for market controls to combat market speculation, but these same entities in concert with their banker allies are by far the worst offenders.  The plunge protection team was out in full force yesterday, and the relevant charts show the moves as clear as day.  While figureheads Bernanke and Paulson were wooing Congress and the public on the boob tube, their pre-arranged plans to knock down oil and gold and prop up the USD were put into play. 

Don't be fooled, Fools.  The push to acquire greater power and authority over the markets than they already possess has nothing to do with removing speculators... and certainly nothing to do with leveling the playing field, since those seeking said authority are fully aware that there has never been a level playing field.  Bankers, Bernanke, and Bush... in about that order... those are the powers at play that determine our fate, both economically and politically.

Thomas Jefferson, in a letter to John Adams, wrote, quote,

"I sincerely believe, with you, that banking establishments, are more dangerous, than standing armies."


"The last duty of a central banker is to tell the public the truth." - Alan Blinder, Vice Chairman of the Federal Reserve, on the PBS Nightly Business Report, 1994



"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance".
--- James Madison 





16 Comments – Post Your Own

#1) On July 16, 2008 at 11:01 AM, XMFSinchiruna (26.56) wrote:

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#2) On July 16, 2008 at 11:29 AM, XMFSinchiruna (26.56) wrote:

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#3) On July 16, 2008 at 11:42 AM, anchak (99.90) wrote:

Good..... no?  I started my Averaging into Gold (CEF - based on your reco Chris) thru Sharebuilder...They charge $4...... The best way would be to open an account with Zecco. However , you need to have a $2500 min for the Zero commission.

I am pre-registered with Zecco just never opened an account.Thus if Gold falls to $850/oz say....then I am moving into Zecco with an AEM buy  and then DCA there.


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#4) On July 16, 2008 at 12:08 PM, wolfhounds (40.37) wrote:

It's not just U.S. intervention. The Jeruselum Post has reported for weeks a barrage of Israeli central bank dollar buying. While the amount mat not be large, it indicates the feds are twisting arms.

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#5) On July 16, 2008 at 12:11 PM, abitare (30.26) wrote:

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#6) On July 16, 2008 at 12:17 PM, Nainara (< 20) wrote:

If this is true, I wonder where government gets the foreign exchange reserves to manipulate the dollar.

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#7) On July 16, 2008 at 12:25 PM, zygnoda (< 20) wrote:

Haa.. if they are trying to prop it up this should get interesting over the next couple months. 

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#8) On July 16, 2008 at 1:31 PM, XMFSinchiruna (26.56) wrote:

From "Le Metropole Cafe":

In the July 14 session on the TOCOM Goldman Sachs took an F16 out of Dodge! They COVERED 1,475 short contracts to bring their net short position to 5,756 making this the LOWEST NET SHORT position they have EVER held in the 30 months since I have been tracking their position on a daily basis. This is VERY significant considering who the Treasury Secretary is….the ex-CEO of Goldman Sachs! If Goldman Sachs is covering on the ONLY visible gold position that they have on the planet then investors should pay attention. The dollar is toast and gold is ready on the launch pad….watch this space!

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#9) On July 16, 2008 at 1:41 PM, XMFSinchiruna (26.56) wrote:


Great move with CEF.  Their recent share offering provides an excellent opportunity.  I have been watching CEF management for several years now, and they have impressed me with the timeliness of each and every share offering.  They offer new shares (non-dilutive!) to purchase bullion at the most opportune times!  And... they offer those shares usually at a lower premium to NAV than the market is paying in a given environment, creating a little downward blip for shareholders that never lasts long at all... while signaling a huge buying opportunity.  I have purchased shares of CEF at every prior share offering, and it has paid off very well each time.  I would be doing it here too... except I have no cash holdings.  I am all in (97% or so in gold, silver, and commodities).

In another thought... I'm concerned about the financial position of my bank... have any of you conducted research on the financial status of the company where you hold your shares and concluded that company is safer than most?  I think it's time I ran from my present bank.


Government capital is probably a small portion of that used to make this happen.  It's the consortium of investment banks, with Golden Sacks chief among them, that do their bidding.  And with the Fed rate at these levels and all the 'special facilities', the gov't is giving away dollars to these banks so they can execute such actions.

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#10) On July 16, 2008 at 4:33 PM, StatsGeek (28.71) wrote:

I Agree!!  When oil collapsed yesterday by $10 just when the market looked like it was going to fall off a precipice, I was completely sure that was not a coincidence but the actions of the PPT.  They succeeded -- for the moment.

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#11) On July 16, 2008 at 5:16 PM, dpid (86.98) wrote:

The banking quote by Jefferson was actually to James Taylor


Voltaire got it right, maybe, “Paper money eventually returns to its intrinsic value ---- zero.”

or how about a speech by Daniel Webster to the senate, "We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.”

- From a SPEECH delivered in the Senate of the United States, on the 22nd of February, 1834.


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#12) On July 16, 2008 at 6:00 PM, XMFSinchiruna (26.56) wrote:


But Sweet Baby James wasn't released until the 1970s.  :P

Thanks for the correction.... and the additional quotes!

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#13) On July 16, 2008 at 8:03 PM, AnomaLee (28.81) wrote:

Nainara wrote:

If this is true, I wonder where government gets the foreign exchange reserves to manipulate the dollar.

Of the $3.98 trillion daily global turnover, trading in London accounted for around $1.36 trillion, or 34.1% of the total, making London by far the global center for foreign exchange. In second and third places respectively, trading in New York accounted for 16.6%, and Tokyo accounted for 6.0%.

The ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203 on a retail broker. Minimum trading size for most deals is usually 100,000 units of currency, which is a standard "lot".

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#14) On July 16, 2008 at 9:09 PM, Nainara (< 20) wrote:

Hi AnomaLee
I take away from the bold emphasis in your comment that you think foreign central banks are complicit in floating the dollar?

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#15) On July 16, 2008 at 10:59 PM, AnomaLee (28.81) wrote:

(Wikipedia) Forex - Market size and liquidity

Yes, I do.... Did you even view that link?

If you viewed who the 10 most active traders were then you'd know it's not just central banks. The bid and ask prices are set by major international finacial institutions which includes commercial banks. Do you know who WAS on that list late in 2007 - Bear Stearns. Long-Term Capital Management(LTCM) was on that list in 1998. Both institutions had to be "bailed out" by other major international financial institutions.

Also, people forget the outlook for the dollar and the economy earlier this decade when many people were concerned about dollarization effecting international trade and current account surpluses. This was only 7 years ago....

I think the Plunge Protection Team that people mention has far less influence than policy-makers and free-traders overall, but I've always emphasized that currency trade is not speculated but manipulated and controlled which is why the forex market is considered the most efficient market in the world despite being the largest market.

We've gone to Asia and asked them to depreciate the dollar and went to the Middle-East to complain about inflation. We are in an adjustment period similar to the collapse of the  Bretton-Woods system of the 1970's which explains the many similarities today. I've thought of this a while ago. Nouriel Roubini of RGE Monitor explains things very well.

Bush's Dollar Drop Maps Loss of US Clout at Final G-8 Sum......
When President George W. Bush went to his first Group of Eight summit in 2001, a dominant issue was the dollar -- the strong dollar, that is. The U.S. currency was on a record-setting streak, and the free-marketeering president wasn't going to stand in the way

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#16) On July 28, 2008 at 8:33 PM, Donnernv (< 20) wrote:


 Wells Fargo is strong and safe.  And, you can open an online brokerage account.

As long as you have a reasonable number of trades (<100/year) and a large enough checking balance (I don't know how large...inquire) commissions are $0.

Nice post.  In the real world, I'm up to the top of my chaps in gold and silver, and cash, of course.  I'd love to get out of the cash but hesitate going farther into gold and silver

Once the S&P has (I pray) bottomed at 1100 next June, I'll leap back into Euro/Oz$/Brazil real/pound sterling/Loony$ denominated equities focused on ag, base metals mining, coal and energy in general.

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