April 12 - Gold $426.80 down 41.10 - Silver $7.14 down 10 cents
Manipulation Of US Financial Markets Intensifying
During my presentation to the attendees at the Calgary resource conference, I explained not only is the gold market rigged, so are all the US financial markets. For a roadmap to the manipulations I cited Professor Tinsley's paper, etc. Those same attendees now have a first hand glimpse how the Orwellians in New York and Washington do their thing. Today's intervetion after the release of the US trade number in the currency markets was beyond blatant. The number:
08:30 Feb. Trade deficit reported record $61B vs. consensus $59B
Prior deficit revised to $58.5B from $58.3B.
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The dollar began to tank, as it should have on such a surprise number. AND THEN, it turned around mysteriously and roared higher. Even Dow Jones choked on this one:
NEW YORK (Dow Jones)--The dollar was modestly higher in early New York trading Tuesday, in a perverse reaction to an unexpected jump in the U.S. February trade deficit to a new record high...-END-
The reaction from a fellow Cafe member:
Wanna explain to me where the government comes up with $36.85/barrel of imported in February, when it averaged around $48/barrel on the NYMEX?? The public is being fed 3 square meals a day that drops from the back-end of a Texas steer and being told to enjoy it.....
actually Bill, a 1-minute chart of the reaction of the dollar and the precious metals after the release of the trade deficit can be seen as the poster-child representing a new American paradigm: it is completely worthless trying to trade the US markets based on publicly released information. this idea first permeated the stock market, with accounting fraud going largely unnoticed and remarkably unpunished. Now it is endemic in what should be the even more efficient markets of currencies and precious metals. and this is what the Orwellians want: complete public disinterest in the markets. god help us all...George Orwell was incredibly accurate in his vision, just not the timing....the Orwellians are rendering our financial markets completely inefficient and worthless except for those in control.
Dave
The explanation by the pundits on the strange dollar turnaround held no water. Rick Santelli 
of CNBC said the dollar rally was due to market player's concern over the Fed's release of the minutes of their last meeting this afternoon and that US interest rates might shoot higher. Well, if that is the case, why didn't US rates move higher simultaneously with the dollar rally. They barely moved and are now LOWER! Santelli and others made no sense. This is the second time in weeks we have been "fed" the same logic re the dollar move higher, yet with US interest rates not moving at all. How long can this Cry Wolf routine work?
Gold was higher during the night, moved higher on the dollar news and then was clocked by JP Morgan Chase, a veteran cabal hit man. While there still is two hours left in trading, I can get my commentary done now. There is NO HOPE of gold moving up today with The Gold Cartel all over the market.
The Gold Cartel and PPT have thrown all caution to the wind re their manipulation of the US financial markets. MIDAS has noted for a month how aggressive the cabal has been with their price suppression maneuvers. Meanwhile, they are propping up the dollar on a weekly basis. Yet, US interest rates have stopped going up. All of this leads me to the same conclusion I have had for a month ... there is a massive interest rates derivatives problem out there ... the neutron bomb has been lit. Therefore the PPT crew is petrified of the dollar swooning and gold rising because it could further aggravate the problem. They need US interest rates to stay low as possible with volatility kept to a minimum. IMO this is why they are being so aggressive with their dollar/gold market manipulation.
The gold open interest rose 3597 contracts yesterday as the cabal forces sat all over the market to counter spec buying. The silver open interest gained 1601 contracts to 101,643.
