The end of QE is bullish for the Dollar. Note that the Fed has ended QE and the European Central Bank is threatening QE. This is Dollar bullish and Euro bearish. The US Dollar ETF held its support zone and surged to affirm support at 22.60. Gold gave us a little preview of the Fed policy statement by breaking down last week. This break held as GLD consolidated in the 118 area. GLD continued lower after the Fed announced the long awaited end to quantitative easing, which is Dollar bullish and bullion bearish. I will not move key resistance to 119.
Tag: gold & silver manipulation
The CFTC releases at the end of each month the futures positions in precious metals of the large banks. At the closing of July 2014 there was no big difference in gold and silver compared to the previous month. A detailed analysis was provided by Ed Steer in his latest newsletter. We want to share his analysis because Ed Steer comes to the following factual conclusion: “3 or less” U.S. banks, along with Scotiabank in silver and gold, run the price management scheme.
The root cause behind the unlawful conversion of the COMEX into a speculative day trading scheme from a market designed by Congress to facilitate legitimate hedging is an old issue, but with a slightly new twist – the absence of position limits. And this explains why the CME fights legitimate speculative position limits at every turn.
This is an excerpt from the latest Global Gold Outlook Report, released by Global Gold Switzerland. The article below represents an interview with Dimitri Speck. Global Gold was interested to talk to Dimitri due to his strong reputation in identifying market anomalies, particularly in the gold market.
In this month’s Markets at a Glance, Eric Sprott presents a collection of thoughts on why he thinks precious metals is a compelling investment right now. He looks at three major topics: physical shortage in gold and silver, manipulation of precious metals prices, and the dire state of the economy.
If 2013 was the year of the big crash for gold, then 2014 could become the year of the truth for gold, evidenced by the attention that gold manipulation is getting in the mainstream media. Case in point: lawsuits against the Gold Fixing bullion banks started yesterday in New York.
In this article, Peter Schiff gives, for the first time, a detailed view of the leading conspiracy theories and how they impact its long-term investment outlook. He believes that the individual investor should have the same opportunities in the marketplace as the big institutions. The subtext “Because the price is suppressed, buying gold is for suckers” is fundamentally wrong in his view.
Manipulation cannot avoid gold to rise significantly. We are in my opinion in the first correction of this big bull market which started in 2001. Let be now or in one year, gold will continue to rise in the years ahead. It is connected with the problems of the financial situation of the world; the world is overly indebted in the US, Europe, Japan and China. Gold is a store of value, it is not credit based, so it can benefit greatly from this situation.
Here I am, directly and consistently accusing two of the world’s most important financial institutions of market manipulation (making sure I send each all my accusations) and I have received no complaint from either. I don’t think that has ever occurred previously. Now I am taking it one step further; presenting a guide for how and why JPMorgan and the CME should be sued for their manipulation of gold, silver, and copper.
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.