Wednesday, August 10, 2011

CME raises Gold Margins

By 22%. Here we go again.

LOS ANGELES (MarketWatch) -- U.S. exchange operator CME Group CME said late Wednesday it is raising the margin requirements for trade in a wide range of gold products, effective Thursday. The speculative margin requirement for a new position in Comex 100 gold futures will rise to $7,425 from $6,075, or to $5,500 from $4,500 for existing "current maintenance" margins. However, benchmark gold futures extended their rise in the wake of the announcement. Comex gold for December delivery GC1Z rose to $1,807 an ounce from its $1,784 New York settlement level Wednesday, ahead of the CME announcement.

And Radigan just went fucking the whole video please...this is one of the greatest rants I have ever seen in the history of my life


  1. Yea... some asshole on CNBC was talking about gold about an hour ago, and he said something to the tune of "Gold is going hyperbolic, they better start putting more margin calls out on this." And so they do... wow. Fuckers.

  2. HHHMMM. Let me see. Who could have predicted this move today in silver? Did anyone? HHHMMM, who could it be? Oh, and did it when it was around $38.37

    Ledbedder said...
    First target is $39.66
    August 9, 2011 7:24 PM

    That is a gain of $6,450

    NAH!! Technical analysis doesn't work!

    Just having some fun braggin'. Noone get the shorts in a wad.

  3. Now the question is how many more are coming?

    @Ledbedder: Props!

  4. I'm new to the stocks (haven't invested anything, still educating)

    Does this mean gold will go down tomorrow?

  5. gentics: Stick to DNA, you dont need to be tainted with our sickness

  6. First they make it illegal to trade gold and silver through OTC.

    Then they pump up the stock market and then slamp on it.

    JPM hyped up the gold prospect, and let the market crashes, that push more money into gold. Then they will keep raising margins for the killing.

    Evil crooks !!

  7. Buy physical metals and stop toying with paper!

  8. gold has already recovered from the margin hike drop and is pushing ahead

  9. don't be a hater SGS. Just another reader trying to educate himself.

    I'm just curious because my family has silver lying around (family inheritance) and I thought I might as well start learning how the markets work, even if manipulated.

    For the time being, I'll admit that this train wreck is entertaining.

  10. Follow the yellow (phyzz) brick road...

    Off to see the wizard, the wonderful wizard of oz... (troy oz's)

  11. yeah i mean this gold thing is just nuts, up more than I ever dreamed over 3 days, its gotta be shaken out by short term profit guys ... me, I will wait and wait till Kurt Escapes from NY and finds Liberty buried in the sand then swipes Heston's sexy mute GF :)

  12. The evil empire wants to take everyone down. It doesn't matter what it is. They are slowly dumping the market and even scaring out the small short investors. All 401k's, IRA's, annuities, bank accounts, CD's, mutual funds, insurance policy paid up additions, all of it. Even these precious metals are make to be taken and destroyed.
    Bitcoins may be a last resort to what is going on here since this is the age of computers. We need to start bitcoin mining companies.. It's all geared toward a Farmville type lifestyle. I'm looking into bitcoins

  13. Just notice something I did not expected. I thought the extended trading hours is closed an hour ago. But I have just sold my UGL shares right now. I did it through my TD thinkorswim account. Has anyone experience similar thing like that ?

  14. @Ledbedder...i do have to say nice call...where do we go from here

  15. I'm starting to think this is being done to push the sheep who are losing their 401k and IRAs into treasury bonds to "protect" them from the market fluctuation. They just raised the debt ceiling and if the Fed keeps buying all the bonds the whole system will have even less credibility. No demand for the paper? Don't worry, we will make some demand! I think this is the beginning. Now just wait for the gov solution to come to the rescue to "solve" the crisis they created.

  16. So how much longer do you think Radigan keeps his job? The bankers have probably put out a hit on him.

  17. Blythe has now discovered that SGS, ZH, and Turdite trolls have infested her blog. She weeded comments by hand four times today. Tell her what you think by posting on EVERY thread (wastes more of her time).


    Ishares Silver Trust $ 38.44
    SLV 2.12

    Short Interest (Shares Short) 23,932,300
    Days To Cover (Short Interest Ratio) 0.6
    Short Interest - Prior 31,260,600
    Short % Increase / Decrease -23.44

    Spdr Gold Trust $ 174.58
    GLD 5.97

    Short Interest (Shares Short) 31,972,900
    Days To Cover (Short Interest Ratio) 2.0
    Short Interest - Prior 30,269,300
    Short % Increase / Decrease 5.63

    Here we can see the SLV has dropped 7.3 million short positions against it over last month. This is indeed significant. On the other hand, the GLD has increased its short positions 1.7 million shares.


    Over the past month, there has been a slow increase in overall inventories on the comex. Today, we had a nice withdrawal of:

    REGISTERED = -152,218 oz
    CUSTOMER = -1,138,704 oz
    TOTAL = -1,290,922 oz

    Besides that....looks like everything is okay in the markets. Maybe tomorrow we have another boring day.

  19. The country has been brought to the brink of disaster by decades of plundering. Dipshits in D.C. dont give a flying fuck about anything except re-election. Me personally I feel that paper is good for two things only 1) to write on and 2) to wipe your ass. (end of rant)

  20. @genetics

    I don't think SGS is anywhere near hating on you, but rather looking out for you. As a newbie, you really wanna jump in the water full of sharks? And c'mon son, at least you got a response from SGS. You're like the 100th person coming into the mix, saying "I'm a newbie, I've been reading the blog, how do I get started?" Bears get rich, bulls get rich, pigs get slaughtered. If you got the inheritance, good for you, but having that doesn't give you the green light to be reckless with the currency that you do have.


    Your Judas/Jesus/AG quote is absolutely powerful on old school Korean Christians.

  21. gentics: Stick to DNA, you dont need to be tainted with our sickness

    LMAO !

    Five Kids that are Scientist ! And they All own Silver ! They've listened to their Dumb Mechanic Father ! Nine Kids all together. Four still at home.. I had my 15yr old read "The Creature From Jekyll Island" this summer.. He wants to be a Banker..lolol He scored in the top 1% in math this last year.. Funny Kid.. And Understands/knows more, than the average Seventy year old , walking around about Money !

  22. Genetics: No hate. You would really feel my hate if I hated you.
    I will have a section for noobs in the new site.

  23. here comes Asian money to buy gold and silver...Hari Kari to the banksters.....

  24. gold hiked sliver slammed obv

  25. Like I said in a previous post, I will never understand Sydney trading. You mean to tell me that an economy that hinges on commodity prices and its ties to China sells its silver at the close?

  26. Went to the coin dealer, and got a great history lesson on South Korea during the IMF crisis in 1997.

    The mainstream media and government urged citizens to turn in their gold and silver to help the country regain stability... 99% of the country turned their gold in, and this is gold that was given to babies (tradition). So all of my lil gooks' college funds got turned in to make the elite of Korea richer.

    And I was mistaken about Koreans and PM. The media continues to demonize the metals, and it keeps the masses in the dark till this day.

    I will find out the deal with the Philippines, Thailand, Singapore, and Malaysia in the following weeks.

    I've accepted that we're in the last inning...

    Let's get it!

  27. I have yet to see any real silver gains as I have purchased most of my physical silver between $32-40/oz, but I have faith in the fundamentals and will continue stacking. It feels like to has to break loose really soon. I love seeing gold go up because it just makes silver that much more undervalued ;)

    P.S. SGS: Love the info you have here. As soon as we hit $50/oz I promise to donate! Looking forward to the new website.

  28. Agreed. Best rant ever. Radigan for President.

    I couldn't go more than twelve hours "cold-turkey"

    I needed my fix.

  29. Looks like gold needs to take a breather. Hit the upper tradj. line near $1815 +/- in GCZ11

  30. @ Ragnar

    You're right, my 'I'd like to fuck her in the ass' quote has gone!

    Do you think she took offense? Just a bit of payback I thought!
    Not that I fancy her, slut.

  31. Dylan's break down was fucking EPIC!!! Mad props to him.

  32. I must admit...its all my fault:

    LOL! These idiots will try to blame anyone but Obummer & the rest of the fools in Washington.

  33. I guess the kool-aide has turned to sour grapes. Wonder what he'll be screaming when owebamazombies come down his street?

  34. Lots of passion but he is still an idiot. What was his solution? For the president to assume dictatorial powers? Yeah, that will be good for America.

  35. Colin said...
    yeah i mean this gold thing is just nuts, up more than I ever dreamed over 3 days, its gotta be shaken out by short term profit guys ... me, I will wait and wait till Kurt Escapes from NY and finds Liberty buried in the sand then swipes Heston's sexy mute GF :)
    August 10, 2011 7:52 PM