This is a very interesting and telling article by Paul Craig Roberts, ... I encourage you to read it thoroughly if you have money tied up in gold and silver, both the miners and physical, the link is below.
Anyone that thinks otherwise is blind, someone needs to open Dan Norcini's eyes. Sitting here day after day hashing out where gold is and what its going to do next, is actually in the hands of the Elite, ... which is the Government, who is trying to preserve the U.S-$, ... its not going to happen, the dollar started dying in the mid 80s.
Insider Trading and Financial Terrorism on Comex
July 16, 2014
Paul Craig Roberts and Dave Kranzler
July 16, 2014. The first two days this week gold was subjected to a series of computer HFT-driven “flash crashes” that were aimed at cooling off the big move higher gold has made since the beginning of June. During this move higher, the hedge funds, who typically “chase” the momentum of gold up or down, built up hefty long positions in gold futures over the last 6 weeks. In order to disrupt the upward momentum in the price of gold, the bullion banks short gold in the futures market by dumping large contracts that drive down the price and make money for the banks in the process.
As we explained in previous articles on this subject, the price of gold is not determined in markets where physical gold is bought and sold but in the paper futures market where contracts trade and speculators place bets on the price of gold. Most of the contracts traded on the Comex futures market are settled in cash. The value of the contracts used to short gold and drive down the price is well in excess of the actual amount of physical gold that is kept on the Comex and available for delivery. One might think that regulators would pay attention to a market in which the value of contracts outstanding exceeds by several multiples the amount of physical gold available for delivery.
The Comex gold futures market trades 23 hours per day on a global computer system called Globex and on the NYC trading floor from 8:20 a.m. EST to 1:30p.m. EST (the 8:30 a.m. opening time on the face of the graph below is a draftsman’s error). The Comex floor trading session is the highest volume trading period during any 23 hour trading period because that is when most of the large U.S. financial institutions and other, ...
... paulcraigroberts.org |
