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Another day, another Fed and bullion bank intervention

IMG Auteur
Publié le 29 février 2012
272 mots - Temps de lecture : 0 - 1 minutes
( 5 votes, 4,4/5 ) , 5 commentaires
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Rubrique : Or fractionnaire





Interviewed today by King World News, Sprott Asset Management's John Embry discusses another smash in the gold and silver paper markets by their "manipulators," the bullion banks:


Market analyst and gold mining entrepreneur Jim Sinclair writes that today's action in gold is an "intervention" functioning as "window dressing" camouflage for more "quantitative easing" by central banks:


And MarketWatch quotes Richard Hastings of Global Hunter Securities as saying today's comments by Federal Reserve Chairman Ben Bernanke may have been "designed to take out some of the inflation in the industrial and commodity side of the markets right now, since the Fed does not want inflation to creep up and threaten its ultra-low rate policy at this time":


That is, more market manipulation by the Federal Reserve, market manipulation being, as GATA has been noting for many years, central banking's reason for being:

"And so we have come to an era of daily market interventions by central banks -- so much so that the main purpose of central banking now is to prevent ordinary markets from happening at all." (http://www.gata.org/node/6242)

Well, at least this manipulation and intervention are being acknowledged in public more often now. But don't ask GATA when they'll end or when foreign central banks and sovereign wealth funds will pull the plug on the operation by dumping U.S. government bonds and buying gold and commodities all at once. That portfolio rebalancing has been happening gradually for a long time, the plug will be pulled only when those foreign central banks and sovereign wealth funds consider themselves fully hedged, and they won't be tipping us off the night before.



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Your delusional, is that a simple enough answer.
I ask a very simple question and would like a very simple answer.

The theory that this price smash was contrived and manipulated remains a speculative theory. Can you offer proof of this without referring the same unfounded rhedoric of the past?

Over the past 3 years we've heard nothing but how the increase in money supply (QE) was going to send metal skyrocketing and many speculators bet on that. If the FED hinted that it might not embark on more QE then why is it so unreasonable to suggest that the dumping occurred because the very reason new investors came in to the game was to speculate on addtional QE?

All this talk of manipulation is pure conjecture. Simply because everyone repeats the same unfounded message doesn't mean that it is true. Where is the proof that this was a bankster takedown rather than a "he didn't hint towards additional QE so dump" situation.

I didn't hear complaining the day before when silver had a spectacular day. I didn't hear complaining during the early days of 2011 when silver had magnificent up days. To be fair, the only complaining I hear is when silver gets smashed. Only then is it a conspiracy against silver ... not on up days though. That is a little hypocritical don't you think?
Evaluer :   2  2Note :   0
PS --- Jesse said today:

You have three choices. Buy, sell, or stay out of the daily trade.

And for the vast majority, the last choice is the best, especially while the markets are given over to such inefficiency and corruption. I'm sorry, but that is the way it is. And its a shame on the government, but unfortunately these days the powerful and the elite have none.

If you have the overwhelming urge to gamble with your money, take a trip to Las Vegas or Atlantic City. The food is better, the drinks are cheaper, and the games, although still stacked against you, are at least relatively honest.

I agree, but these SOBs still control the price - as in down. We need to find another playpen!
Evaluer :   1  0Note :   1
Bernank on interest followed by a slap down of gold and silver (which seem identical in pattern on the daily chart), honestly these people have no shame. Considering that it is done with paper, it is all the more frustrating...I thought MFG might have put an end to this nonsense.

I realize there must be a trading market, but like the young lady who pulled out of the CMX and is still allowing farmers to hedge cattle, there must be a way for someone to do the same with other commodities. The COMOX is a paper exchange; LBMA is leveraged up to 100 to 1 because they never expect people to claim their bullion.

As long as that is the case, investors will have to live with paper-based manipulation. The only solution is to do as they did in Hong Kong, if I understand correctly, no paper, unless 100% backed. Short and long paper is difficult to to explain to my grandchildren - so is much of the other paper like certificates and ETFs. We need markets; do we need these markets? Miners don't hedge anymore...why is the public still in this entirely stupid reserve banking mechanism without a net?

And as for the LBMA setting the spot price twice a day and the charts changing four times every day like clockwork...don't even get me started. But we all know this - isn't it time we put our heads together and came up with a solution?
What the Eff ?? Today's price manipulation is brazen ! Throw the banskters into the red-hot bronze statue of Baal !
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Your delusional, is that a simple enough answer. Lire la suite
phil A. - 02/03/2012 à 17:09 GMT
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