The chart shows the trend in a range based on a 95% prediction band. The stand-out feature on the chart is how gold remained within the range for the past 10 year for most of the time. The two exceptions were gold’s peak in the summer of 2011 and the collapse in 2013. Gold is close to entering the long term trendline.
Tag: gold & silver manipulation
While the London Fix price manipulation was already known for years (for instance by research from Dimitri Speck documented on several sites including ours), it is the COMEX futures dominant positions of JP Morgan that is an even bigger act of price manipulation. As usual, the mainstream media are running behind the truth and are not able to report on the most relevant facts.
In the latest Investor’s Digest of Canada, Johny Embry, strategist at Sprott Asset Management, praises one of the latest precious metals book. Obviously, the book he refers to is “The Gold Cartel; Government Intervention in Gold, the Mega-Bubble in Paper and What this Means for your Future” written by Dimitri Speck.
In an article published on Sunday, a Financial Times editor explains how the London Gold Fix could be structurally manipulated. In a myserious way, however, the article disappeared shortly after getting published. Too late for Google’s spider who already registered the article in its memory.
What baffles me today is that no well-known journalist from outside the gold and silver world has yet picked up on what is an easy-to-document story of epic historical proportions. It’s the story of why Bear Stearns went under, and how the gold and silver price manipulation continued since the day JPMorgan took over Bear. I think the story has Pulitzer Prize written all over it.
The price of gold must be kept suppressed at all costs for many of the reasons cited. Does the fast-fading world reserve currency look like it is collapsing? The chart does not suggest it is.
Jesse gives his view on several aspects of the gold market. Strange things are happening currently. But at the end of the day, the truth will come out, and things will make sense again, always. And then these same ones will say, ‘Who could have seen this coming ?’ This is how it always is, if you look back over the history of bubbles and crises.
In this interview with Dimitri Speck, the gold price suppression scheme of the last 2 decades is discussed. In terms of gold’s outlook, the most likely scenario is one comparable to the current Japan: suppress deflation, stimulate slight inflation while avoiding strong inflation. In this scenario, the velocity of money will increase, savers will step out of the banking system, inflation will occur in asset and consumer prices. Gold is the best hedge in such a scenario.
If gold prices continue to slide, it is essential that you are not beguiled into thinking that you own a barbaric relic. There is enormous value to owning gold. And while it may not be apparent now, things are bound to change in the very near future. The Chinese have already figured this out and that is why they are buying as much gold as possible.
Jim Sinclair explains that gold price setting is too dependent on the paper market, to such an extent that it has continued to live as the means of manipulating the paper price of gold. What is “Free Gold.” It is the decoupling of the gold paper market influences on the gold price setting, or in other words freeing physical gold from price slavery to paper gold. The mechanism he describes is through the present time deletion of future exchange warehouse supply. He describes in this piece how he is planning to achieve his target.
JPMorgan’s real crime resides in its ability to sell unlimited quantities of COMEX silver contracts short on the way up in price to the point of creating unprecedented levels of market share and concentration. In December 2009, JPMorgan held more than 40% of the entire short side of COMEX silver and close to that market share on other occasions. To my knowledge, there has never been a greater market share or corner in any major market in history. These unlimited short sales by JPM inevitably satisfy technical buying interest and then that technical buying turns to selling at some point, with JPMorgan then working to induce the tech funds into selling.
Sound Money Magazine has put together a free issue for all its readers who are interested in attaining information about the price manipulation in the gold market. The free issue is a compiled set of evidences with regard to the intervention by the Government and Central bank in relation to the gold prices.
Now the gold and silver futures markets are not being used for their original purpose, but are being used to manipulate prices by some entity that does not want to see prices of precious metals move higher. It is widely known that central banks and other major financial institutions have been manipulating Libor, bonds, equities as well as the foreign exchange market. So, it is absolutely plausible that they are manipulating precious metals, in particular gold and silver. What does this mean for investors?
It appears that the multi-market price smash of this past week is also destined to be intentionally ignored by both the CME and the CFTC, save for the braggadocios press release from the CME and some not so reassuring words from Commissioner Chilton that the agency is ”looking into it.”