jsmineset.com
Thursday, November 20, 2003, 1:20:00 PM EST
Deceit in Wonderland
Author: Dan Norcini
Q: Dan, what do you make of Jim Sinclair’s take on manipulation in the December gold Calls putting pressure on gold futures the last few days?
A: We are witnessing the commercial gold traders acting for themselves, for their own position which includes the December gold options and the ESF as they deliberately and simultaneously buy the dollar and sell gold.
It is all part of the coordinated deceit-economics that the elitists on Wall Street have contrived to delude the poor unsuspecting public that all is well in Wonderland. The world has become rotten to the core and corruption has woven itself throughout the fabric of our society. Today, a massive explosion went off in Turkey. Also today, the White House was evacuated reminding us of the ever-present threat of terrorism and geopolitical instability. These events generated safe haven flows into the Swiss Franc and the Bond Market which apparently is acceptable to the EFS.
What do we see when we turn to gold - the ultimate safe haven? We witness a market in the middle of a sell-off! We watch the U.S stock market come in lower and then miraculously burst upward for no apparent reason, catapulting through buy stops and flushing every single short out of the market.
Look at a 9 minute bar chart of both gold and the NASDAQ and tell me that this is not a rigged game. Now you tell me that this is normal market action and is typical of free markets? The dyke is leaking in so many places that quite soon - possibly today - it will all fall apart. The impossible thing to manipulate has happened and that is the failure last month of Asia to finance our economic recovery.
All manipulated markets act as coils and when the manipulation fails the result in horrendous. The fight to keep gold under $400 will guarantee that it goes over $529 just as the fight in the early 70s to keep the Swiss Franc under .23 resulted in .71. The ESF can walk away from manipulation Scot free but the commercial dealers are so apparent in what they do they are bound like the 47 perps to go up in flames in time - perhaps even today.
Thursday, November 20, 2003, 11:17:00 AM EST
Manipulation 101 Option Style
Author: Jim Sinclair
There is no question in my mind or the mind of most market participants that gold will surpass $400 by a significant amount.
Tomorrow at the close, December gold Calls will expire. And from my observations of market activity, it appears there will be a determined effort among commercial options dealers to take out the December option with gold under $400 by holding the market below that point.
Is this legal?
Yes, it's as if the commercial dealers are willing to sell long positions or increase short positions acting individually and not in a coordinated fashion with the knowledge of other commercial dealers or clients.
No, if they have had any discussions, emails, floor hand signals, joint accounts or joint profit agreements with any other dealers or clients or between their clients.
No once again if the transactions to depress or boost market prices are without risk such as offsets with the sale executed in a manner to destabilize.
The action to change a market price without risk is a legal definition of manipulation.
The answer is also no if the offerings made above the market in the cash market are in fact not intended for sale but rather to destroy the market.
Will they succeed?
Certainly not if the present weakness in the US dollar continues through tomorrow. Definitely not if the new interest in the gold market - the currency crowd - realizes that they are deep in the red. Yes, if good people do absolutely nothing because they feel it's not their fight.
Even though you consider yourself a free market believer and lover of liberty, doing absolutely nothing allows evil to succeed and indeed grow in the marketplace.
Please keep in mind the email address: freeaumkt@hushmail.com if you have evidence leading to the arrest of any party attempting to manipulate the market for gold.
A reward of $50,000 in gold coin is being offered for testimony leading to the arrest of the perpetrators. |
