I think it's clear that gold has been manipulated. The reasons might be not so clear though. Rickards says that China is in collusion with US and etc, to keep the price low so China can get enough gold to play at the table - being that gold is the currency of the elite and they all want fiat printing privileges, but between them they don't trust each other and so if China wants to be part of the SDR then they need gold and lots of it. Hence price suppression. There are a collection of other theories but this one sounds most plausible to me. The big picture doesn't care about a few bullion banks going down AND, gold is money to the people who rattle our cages. Rickards comments were on Daily Reckoning a few days ago if you want to search them out.
When they do the valuation on China's gold holdings, perhaps the spot price will be up? I thought people were crazy when they said gold to the moon...but I don't think it's so far fetched anymore.
I'm convinced there is no "longterm" systematic manipulation of the gold and silver market. Traders may scalp profits on short-term trades, but that's about the extent of it.
Touchscreens and text are killing punctuation. Pita shifting keyboards to insert them. No excuse for leaving the E out though.
You're the one challenging my opinion. Prove otherwise using factual non-conspiracy theorist evidence
Which doesn't hold up to any form of scrutiny otherwise the argument wouldn't exist. Everyone would simply agree that the gold price was manipulated. Until that day, I don't see how I can be wrong.
"Manipulation can be effective in the short term. However, prices will eventually be dictated by real world forces of supply and demand for physical precious metals. This has been seen throughout history and was seen as recently as the 1960's and the failure of the London Gold Pool which gave rise to the bull market of the 1970's." From: Should You Believe Conspiracy Theories about Gold?
Until that day you could very well be wrong, but we wouldn't know it now, only afterwards when everyone agreed that the gold price had been manipulated. If everyone told the truth we could just ask them but sadly the people who steal also lie and hide evidence. I would be very surprised if it wasn't manipulated, every other market seems to be, from insider trading to diamond price fixing.
If they are manipulating precious metals short term, and they been doing it for ages, then it is long term too. It depends how you want to look at it. Also - Regulators Investigating Precious Metals Manipulation 'Encouraging' - Australian Researcher March 4, 2015 It is encouraging to see regulators around the world taking a more active interest in the potential manipulation of precious metals markets, said one Australian researcher. Andrew Caminschi, a researcher at the University of Western Australia, in Perth, said investigations in the U.S. and Switzerland regarding the precious metals price fixing will add more transparency in what has once been considered an opaque marketplace. Caminishi added that it is remarkable seeing how the dialogue regarding market manipulation has evolved over the years. At first the idea seemed "impossible", then transitioned to "unlikely" and is now dismissed as "intra-day and a short-term anomaly." Last week the Wall Street Journal reported, from unnamed sources, that the Department of Justice (DOJ), is investigating 10 major banks for the possibility of manipulating precious metals markets. On the same day, Reuters reported that Switzerland's competition commission, WEKO, is also looking into the possible manipulation within the precious metals markets. "As the regulatory findings have put names and faces to these statistics that plank has been growing shorter and shorter," he said. "What I can tell you, what we found in the silver research is consistent and for long periods of time. This is not an aberration we found in one or two sample years." Research Shows Constant And Long-Term Market Aberrations......... http://www.kitco.com/news/2015-03-0...Precious-Metals-Manipulation-Encouraging.html
First Majestic Silver Corp CEO writes letter http://www.gata.org/files/FirstMajesticLetterCFTC-06-01-2015.pdf One Of The World's Largest Silver Miners Slams The CFTC About Silver Market Manipulation It has long been known to silver market watchers that when it comes to the price of paper silver, there has long been a chronic and extremely concentrated shorting presence at the Comex, one which the CFTC has persistently refused to address even though it consistently surpasses the proposed limits on derivative positions. Now, at long last, a Canadian silver miner, First Majestic Silver Corp., has decided to take the CFTC to task. In a letter penned by Ted Butler to CFTC Chairman Tim Massad (who recently replaced former Goldmanite andfuture US Treasury Secretary, Gary Gensler), Keith Neumeyer, CEO of First Majestic, became the first primary silver producer to vocally highlight some of the questionable activity reported weekly in the CFTC's Commitment of Traders report, specifically the "record position change of more than 28,200 net contracts of COMEX silver futures" the equivalent of 141 million ounces of silver and 61 days of world mine production. Incidentally, this was first observed here one week ago. Neumeyer observes accurately that the "big changes in positions on the COMEX are by speculators and commercials acting as speculators and not by those engaged in bona fide hedging" and comments that "such massive speculation in COMEX silver futures may not be in keeping with the spirit and intent of commodity law andmay suggest something is wrong with the price discovery process, since real producers and consumers of silver don't appear to be represented." Neumeyer concludes that such moves in the futures market "appear from the outside to be manipulated practices by a concentration of playersDon't hold your breath for a response, however. Recall that less than two years ago, under the aegis of Bart Chilton who is currently a handsomely paid lobbyist at DLA Piper on behalf of the HFT lobby after spending years bashing them while at the CFTC, the commodity regulatorclosed its "investigation" concerning manipulation in the silver market, without finding anything: Washington, DC The Commodity Futures Trading Commission (CFTC or Commission)Division of Enforcement has closed the investigation that was publicly confirmed in September 2008 concerning silver markets. The Division of Enforcement is not recommending charges to the Commission in that investigation. For law enforcement and confidentiality reasons, the CFTC only rarely comments publicly on whether it has opened or closed any particular investigation.Nonetheless, given that this particular investigation was confirmed in September 2008, the CFTC deemed it appropriate to inform the public that the investigation is no longer ongoing. Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets. Curiously, this investigation took place during a time when the CFTC, as it publicly admitted recently never even looked at spoofing activity in the precious metals markets, which also explains why two days ago, another Indian scapegoat (the third in a row after Navinder Saraoand Nasim Salim), one Himanshu Kalra was busted for spoofing gold and silver in the period between March 1, 2012 and October 31, 2012 a span of time which was covered by the CFTC's grand silver manipulation which concluded in September 2013, and yet which the CFTC completely failed to notice.And yes, in a non-banana republic, a regulator so humiliated would be forced to at least reopen its "investigation" and admit that it was wrong and has missed glaring examples of market rigging, but in the US that won't happen. Which is also why while we salute First Majestic with this first public appeal by a corporation to the CFTC to stop the rigging in the silver market, we have absolute certainty that this too complaint will promptly end up in Mr. Massad trash never to be heard from again. http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/05/cftc silver.jpg
Julie...you always cite Rickards so I did a bit of looking up on him. He claims he had a CIA role and job title specifically "Financial Threat and Asymmetric Warfare Adviser CIA & The Director of National Intelligence" . Other than his own claims is there actually any evidence of this, for example a paid invoice? I can find nothing to substantiate him whatsoever. His books read like fiction and for me he has zero credibility. Have a read of this http://evilvonscary.com/?p=1472 Gold has always been manipulated - that was exactly what Bretton woods was. http://en.wikipedia.org/wiki/London_Gold_Pool#Collapse "In November 1961, eight nations agreed on a system of regulating the price of gold and defending the $35/oz price[5] through measures of targeted selling and buying of gold on the world markets. For this purpose each nation provided a contribution of the precious metal into the London Gold Pool, led by the United States pledging to match all other contributions on a one-to-one basis, and thus contributing 50% of the pool." It is an asset held by governments as a hedge against each other that has an assured stability due to this and will always inflate with money supply. I don't have a problem with that as it will never collapse in value. It is undoubtedly still operating in a price range controlled by the same nations which were and probably still are the pool that sets gold pricing United States, Germany, United Kingdom, France, Italy, Belgium, Netherlands, Switzerland. China would like to join the big playas club to. This means neither extraordinary peaks or declines are tolerated that are not reflective of changes in monetary supply. This is neither illegal or particularly surprising.
Only a stupid player will enter a rigged game. See wrcmad's signature for the exact wording. Conspiracy theories really are rotting the community and it took me a while to realise how many people actually believe this.
