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Talk about illegal actions by the government -
Sep 30 13:07 pm
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All Comments by bowman711 »Market Safe Havens Rapidly Dwindling [View article]
The two-day chart below for GLD simply does not make any economic sense. So much so that I am now thinking that the bullion banks must be simply shorting gold and silver (and to a great extent, oil) and once they get the money for the sale they destroy any evidence of it. And, it's done with the fill knowledge and abetment of the various G7 governments for the specific purpose of destroying any remnant of belief in gold as money.
The time to buy insurance is before the fire, not when the house is burning down. The time to buy gold is in the uncertain times before the crash, not during or after it. In the last six months, as the economy has by all account become more uncertain, gold should have been able to break through any 'honest' naked shorting of gold. Certainly, yesterday should have sent gold up 25%. And today gold is down lower that it started yesterday? Silver went lower during the biggest stock crisis in 21 years, and today is far, far lower? Give me a break.
I think the numbers faithfully reported by exchanges are a complete fraud. Why would a group of crooks, especially at the behest of governments, illegally naked short gold and silver suddenly get a streak of honesty and report honest figures? This fraud against precious metals has to be far more cunning and widespread than I've seen Ted Butler or GATA (or anyone) express.
I just read Ted Butler's latest article ( news.silverseek.com/Te... ), and it reinforces my suspicion expressed in my previous e-mail that these bullion banks are shorting gold and silver by direction from the government, so they have no fear of any 'investigation' by the CFTC or anyone. Or, maybe they don't read the Wall Street Journal?
Why on earth, if they learned that the regulatory agency was going to do a 'criminal investigation' on precious metal manipulation by the CFTC Division of Enforcement, would they intensify driving silver down . . . unless they knew that any investigation was a complete sham?