GATA Claims To Have Evidence Of "Massive Physical Short Gold And Silver Positions That Can Not Be Covered Because of the decades-long interference with the gold market, we estimate that the free-market price of gold is multiples of the current price. Growing stress caused by burgeoning physical bullion demand is threatening to lead to a price explosion, which will restore to the market the balance that regulation has failed to maintain. In our view, the Comex paper market will become dysfunctional, with "force majeure" having to be declared as the concentrated shorts are unable to deliver on their obligations." http://www.zerohedge.com/article/ga...t-gold-and-silver-positions-can-not-be-covere
Can I have just 10 cents for every hysterical post that appears on ZH that turns out to be bullshit. Just 10 cents. Gold Anti-Trust Action Committee Inc. lol is that Inc. or StInc? Zero Hedge, aka, the folks that missed the biggest rally in 75 years Oh , yeah, I predicted they would talk shit for the duration of any rally long long ago.
Clearly the price is manipulated on Comex, but they lost it at 1000 and "may" be slowly losing more control, particularly if the general public ever catches on.
Thanks for the post. GATA's claims are very interesting. I am going to look through their website for more info. http://www.gata.org/
The S&P futures are manipulated too and everyone knows it. Free markets in the U.S. ended 2 decades ago.
December of 09, you could watch, day after day for weeks, as London pushed the price of metals up $10 or $20, then on Comex open, watch it fall like a rock. No proof who was playing, but I suspect both China and the US appreciated the stronger buck.
Excellent post. The year 1987 comes to mind to be exact. That marked the begining of the algo's and programmed trading i.e. the birth of flash orders and true market manipulation. Back in the early 1980's the idea was created to give certain individuals the unfair advantage of getting filled seconds ahead of the masses. The idea even appeared on a famous TV show back then. I might be mistaken but come to think of it it might have even been the late 1970's like around 78 or 79?? I forget the actual name of the program? but i think it was either ..........the bionic women, or man...........or maybe even the dukes of hazzard or something like that. Anyway what i remember is that these guys were in a room and they had this room full of computers and stuff and supposidly this guy had this electronic hustle that would give these guys the quotes and stuff seconds before they hit the market and likewise they could execute their orders ahead of everybody else ............for a phenominal fee ofcourse. Please if anybody can remember the show please advise. My memory is fading as a result of old age.