Holy Moly! Boy, The Gold Cartel are a creepy lot. How typical this is! The precious metals have gone into a freefall in Acces Market trading. Gold dropped to $1391 before recovering to $1400.50. Silver fell to $31.72 before coming back to $32.07 at the moment. Once AGAIN, the action in the XAU and HUI was telegraphing to other bullion traders what was coming down the pike in short order.

And NO one, and I mean NO ONE, outside the GATA camp will say a thing … dimwit commentators!

The Gold Cartel and the whole lot of dingbats disgust me. Strong enough for you Ranting Andy?

Just in, here is the latest and reason given the the stunning fall in the precious metals…

14:23 Gaddafi rumors pressuring oil, lifting stocks

* A rumor that Twitter updates are suggesting that Gaddafi has been shot appear to be causing the market reactions.

* This appears to be a rumor about what is on Twitter, rather than a widespread Twitter rumor, as a quick scan of Libya and Gaddafi updates on Twitter has yet to reveal any such updates/reports/rumors.

* WTI currently $97.63, ($0.41), off roughly $2 in recent trading

* S&P (0.48%), Dow (0.56%)

<* * * *

NONE OF THAT HAD ANYTHING TO DO WITH THE WEAK HUI THIS MORNING WHICH WAS GETTING BATTERED FROM THE GET-GO!

Perhaps the Gaddafi rumor is so; however, this smells of yet ANOTHER false rumor planted by the Behavioral Finance crowd, one ready to be acted on by the Counterparty Risk Management Group, PPT, Gold Cartel etc. If history is any lesson, this rumor will fade and no one will say anything about how this happens over and over. No matter, the damage was done for the day to gold and silver.

With all the coverage the news networks have given the Libyan situation, there is ZERO coverage of that rumor on CNN, MSNBC, or Fox.

It is almost beyond comprehension that The Gold Cartel and PPT can resort to these false rumor tactics and they not gain some market commentary traction. This is something that happens two or three times a year of late. Why is it that only those of us who live on Planet GATA can call a spade a spade? Course what should any of us expect from the goofy Muppets on CNBC, etc?

What this does reveal is The Gold Cartel are a bunch of cornered rats, desperate rate ... that they have to resort to such childish nonsense. So be it! They are just giving new buyers an opportunity to accummulate physical gold and silver on the cheap which will further put the bums behind the 8 Ball down the road.

There is no doubt in my mind anymore The Gold Cartel is using the shares as a signal to other traders to what they are going to do with gold and silver in the very short term. Today's joke made that conclusive, IMO.

The alrady beat up XAU and HUI were really tagged late. The XAU fell 4.87 to 208.43 and the HUI sank a steep 16.35 to 542.58.