deuxsous

The Manipulation of Gold and Silver Prices

Yes, I think JPM's reputed size on Comex is immaterial to the world gold price since that world price is fungible and "arbitrage-able" instantly. All discrepancies between NY and other world gold center (Tokyo, London, Dubai, etc.) prices are instantly arbitraged. If JPM can have that many shorts in the NY market and it doesn't really affect the world price, that's the sign of a large and very healthy market.

I spend my time on price analysis and fundamental analysis and leave the BS to others. I only bother to comment occasionally because the incessant BS pisses me off as wasteful, and I hate to see another generation of gold investors sucked into that vortex of ignorance. Gold is a very worthwhile investment asset, but the distractions of the "manipulationistas" are a real pain in the rear when people are trying to gauge the real market.

The Manipulation of Gold and Silver Prices

It's clear to me that the government WANTS gold to go UP not DOWN! Why else would they be inflating every minute of every day? How many times per week do you hear a CONgrASS person or bureuacrat say the word "reflation"? Now is that "manipulation" or just "public policy"?

Why don't the armies of NCGB's here at this site and elsewhere EVER get it???????????? It's enough to drive a good man to drink on New Year's Eve.

Happy 2009 to all NCGB's and the very few normal gold investors!

The Manipulation of Gold and Silver Prices

""My purpose here is to illustrate the reckless manner in which the big players have distorted what were once “normal” markets. JPM is not a gold miner, it is not a gold user, and it is not a central bank. Why, then, is JPM participating in the gold futures markets? For one reason alone: what was once a means for producers and users to hedge an actual production process has become a casino. The big investment banks have “trading desks” who engage in speculation.""

The stated purpose of futures exchanges was and is to provide a forum in which producers and users may exchange their risk to speculators. Without speculators there is no exchange of risk. What is there about that function which should make you angry and disturbed, seeing evil manipulators under every bed?

The Manipulation of Gold and Silver Prices

Hmmmmm...on the email sending me this article from Seeking Alpha, Hamlin was listed as the source, but here at the site it says Peter Degraaf.

The Manipulation of Gold and Silver Prices

I parted company from the goldbugs in the late 1990's when they were reduced to claiming that gold should go up during deflation (!) and also claimed the reason it didn't go up was because of a massive manipulative conspiracy. But it was back then really just a bear market in gold as it was in oil and grains and the CRB Inxdex in general. What could have been more obvious?

In many cases the manipulation addicts are paid by the miners and others to promote the gold price in any way they can. I know little or nothing about Mr. Hamlin, and I certainly do not mean to accuse him AT ALL of being in that league. He may simply be fooled by the marketing manipulators' constant barrage as many others are.

I still love and own gold as a hedge just as I love and own home, car and health insurance. I don't really want to see any of them pay off, but I buy them "just in case". The rest is marketing hype and other uglier varieties of BS.