Those benefiting from being able to print money are frightened at the prospect of lost faith in fiat. Their entire power structure crumbles and they can no longer accumulate massive amounts of wealth and power by simply being able to print money or being first in line to receive unlimited cash at zero interest.
2016 must be a difficult year for the manipulators, with the opening of the Yuan-based gold price fix in Shanghai and public admission of silver price manipulation by Deutsche Bank. But apparently, they are still at it. This morning, both gold and silver were suddenly sent plunging, despite a fairly steady dollar index.
Apparently, someone decided to sell 18,000 contracts – or over $2.3 billion notional of gold, in 10 minutes this morning. This sell order was obviously done without regard to fetching the best price, but more likely with intention to smack down the prices of gold and silver. This type of action on the London PM fix has become all too predictable.
The goal is to drive fear into gold and silver investors, forcing them to panic sell their positions and accelerate the price decline. But if previous attempts in 2016 are any guide, this attempt will also fail. After more than four years of correction, there aren’t many weak hands left that will be easily scared out of their positions. To the contrary, investors realize the precious metals had become significantly oversold and undervalued, trading near the cost to produce. 2016 has been a very rewarding year thus far for gold investors and I don’t see this crowd throwing in the towel anytime soon.
Those pulling the strings behind the scenes are also attempting to prop up a dying currency. They have to keep faith in the USD alive at all costs, but they are losing this battle. De-dollarization has been accelerating globally and the writing is on the wall for the dollar.
The basis of every Ponzi scheme or magic show is keeping truth hidden and gold represents truth in money. We believe these types of blatant attempts at smashing down prices will prove to be nothing more than a short-term mirage. should be used as buying opportunities. Therefore, we believe it is wise to use these moments as buying opportunities.
And for those that still don’t believe that prices are being manipulated, please note this is no longer conspiracy theory. This is now admitted fact and we suspect it is only a matter of time before additional light floods the dark rooms of these manipulators are they scatter like cockroaches.
A Zerohedge.com commenter had an alternative explanation for this morning’s price manipulation:
I was cleaning out the closet over the weekend and found a few hundred thousands oz’s of gold and took it down to the pawn shop this morning….
