Manipulation Of Gold And Silver Prices Further Exposed
If you don’t happen to know why you should care about this, you should have a look here and here.
Steve Watson, Infowars.net
November 18, 2008
Commodities experts are in agreement that the price of gold and silver is being manipulated by bankers and government officials in order to halt a mass abandonment of paper currencies and the debt based economy.
The New York Post today carries a column by John Crudele declaring that there is a global run on gold coins and that demand is not being met by government mints.
“The price that the government charges coin dealers has recently been increased by as much as 10 percent for a 10-ounce coin.” Crudele comments, also pointing out that gold purchases that were easily filled immediately six months ago are now subject to two week waiting periods.
“There’s another more puzzling aspect to the recent gold rush.” Crudele writes, referring to the fact that the market price of gold is declining, despite the increase in demand.
Crudele quotes Bill Murphy, chairman of the Gold Anti-Trust Action Committee who states:
“Gold should be moving up… How could there be such a dichotomy between the historic high premium for coins all over the world and the low Comex price?”
Figures released by the Labor Department today show that prices of gold and silver tumbled in October by the most on record, with the gold price heading for its first annual decline in eight years.
Gold futures for December delivery declined $7.20, or 1 percent, to $734.80 an ounce at 9:33 a.m. on the Comex division of the New York Mercantile Exchange. Silver futures for December delivery dropped 4.5 cents, or 0.5 percent, to $9.285 an ounce.
Reports are attributing this to a dampening of inflation concerns, however Bill Murphy maintains that “the US government and the banks that hold bullion are intentionally keeping the price down.”
Murphy and the GATA has been attempting to expose the blatant manipulation for a number of years now. “The gold market is managed by certain central banks and their agents, the bullion banks” he wrote in 2005. “It is a price-fixing case involving some very powerful people and institutions … in fact it is a Gold Cartel.”
Murphy and others have revealed how the IMF and the central banks have sought to suppress the gold price over the last 10 years in order to maintain their monopoly over an economy based on debt and fiat paper currencies.
We have previously reported on how the official COMEX gold future numbers are completely divorced from reality and banker manipulation is rife.
Recently, influential private investment advisor Martin Hennecke echoed these sentiments declaring that the anomalous price trends were partly a result of temporary deleveraging as well as, “manipulation as the central bankers and the politicians don’t want you to panic out of their debt and go into gold.”
Hennecke and other investors such as Jim Rogers have predicted that gold prices will explode towards $2,000 an ounce with future hyperinflation resulting from the global central banks’ insistence on printing their way out of economic turmoil.
Last week more evidence of the manipulation of precious metals emerged with Silver market analyst Ted Butler obtaining a letter from the U.S. Commodity Futures Trading Commission to U.S. Rep. Gary G. Miller, Republican of California. The letter virtually confirmed Butler’s speculation in September that the smashing of the silver price this year involved JPMorganChase’s takeover of Bear Stearns in March.
Butler writes:
“Bear Stearns held the largest concentrated short position in COMEX silver (and gold) futures at the time of its forced merger with JP Morgan in March. That position was not discovered until the publishing of the August Bank Participation Report followed by the October 8 letter from the CFTC to Congressman Miller. Furthermore, Bear Stearns had no legitimate backing to the short silver position, either in actual metal or cash. Otherwise it could have been delivered against or bought back, just as would have happened were it a long position.
“The price of silver at the time of Bear Stearns implosion was $20 to $21 an ounce. A free-market covering of a concentrated short position of this size would have driven silver prices to the $50 or $100 level and would have exposed the long-term manipulation. Rather than let the free market deal with the required short covering of such an uneconomic and unbacked short position, government authorities arranged to have the short position transferred to JP Morgan. This was undertaken by the U.S. Treasury Department, along with taxpayer guarantees against loss to Morgan worth billions of dollars. This was done, no doubt, to save the financial system from imploding. This was also patently illegal, as it aided and abetted the silver manipulation.”
Source | See Also under Money: Now the consumer crunch: falling credit limits, rising interest rates | Coming soon to your cellphone: Your credit card via RFID chip | A New World Financial Order: It Better Work This Time | Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 | Merrill CEO: Economic Environment Recalls 1929 | Fed Hides Destination Of $2 Trillion In Bailout Money | ‘Smart’ Credit Cards, Pilot Project set the Groundwork for Wireless Credit Wallets | New credit cards may shift unauthorized-transaction liabilities to the holder | IMF may need to “print money”, act as “world’s central bank” as crisis spreads | Morgan Chase Exec Brags Bailout Is for Takeovers, Restructuring, Not Lending | Globalists Exploit Financial Meltdown In Move Towards One World Currency | Wanted: a new financial order | Bush outlines radical plan to part-nationalise banks | World needs new Bretton Woods, says Brown | Tim Rogers: Global Bankers Have Unleashed Inflationary Holocaust | $25B credit backstop for banks ‘not a bailout’: Harper | No bank bailouts: Flaherty | Federal Reserve Moves to Monetize Commercial Paper Debts | Why Paulson’s Plan is a Fraud | Representatives Were Threatened With Martial Law In America Over Bailout Bill | Congressman Ron Paul: Bailout Will Destroy Dollar, World Economy | U.S., British market regulators ban short-selling | Central Banks Move to Transfer Wealth from Taxpayers to Banks | Court Grants Big Banks Immunity from Lawsuits over Derivatives Losses | US Mortgage firm bailout includes rider clause to expand police state: all credit card transactions now to be reported to IRS | Financial ’super cop’ role for Fed | Ottawa warns on gold-backed Web trades | Flaherty pushes draft law for single securities regulator | Fed eyes Nordic-style nationalisation of US banks | Treasury’s Plan Would Give Fed Wide New Power | Consider a continental currency: Jarislowsky | Globalization makes national currencies obsolete | Vicente Fox Admits Plan For Single NAFTA Currency | The Illustrated Road to Serfdom | Fraser Institute: The Case for the Amero
November 19th, 2008 at 6:52 am
[...] Go to the author’s original blog: statism watch » Blog Archive » Manipulation Of Gold And Silver … [...]
December 6th, 2008 at 4:39 pm
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March 20th, 2009 at 9:48 am
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September 5th, 2010 at 9:46 am
As we all know, due diligence is a must, especially today, as we are going through an Economic Crisis that boggles the mind as to money supply contraction, rolled over and expanded debt, serious unemployment, everyday consumer price inflation and asset value deflation.
We need to help each other to research, discover and share all the dealers out there that are manipulative deceivers.
As you know, there are two major assets to own and hold during such a Crisis. Real Estate and Gold Bullion.
I have been researching where to buy and hold Gold Bullion, free, clear and unencumbered with full and honest disclosure about all of the negative legal history, massaged financial history, false storage guarantees, poor and/or no audit history, unfair costs, large unearned commissions no disclosed from all of the websites of those who claim that they are solid Gold Bullion Providers.
Amongst most of those Market Makers, Gold Dealers, Bullion Banks I was shocked most by one website that I found that had such a large litigation history that I could not believe they still existed.
This entity never discloses this negative history. I assume that is why are still doing business in the Precious Metal’s Sector.
That Entity is Monex Gold Depository Company located in Newport Beach, CA.
I compared this to GoldMoney in London, Zurich and HongKong for direct purchases of Gold Bullion. GoldMoney buys directly from Gold Bullion Refiners….not from the major Gold Bullion Banks.
What a difference between MonexGold and GoldMoney.
As in any due diligence exploration to assure every best effort has been made so as to preserve our own purchasing power, as a hedge against printed “fiat” paper money, it seems highly probable that Real Estate and Gold are the only “real money” choices.
Good Due Diligence can dig up a lot of shocking discoveries. Please, invest the time to discover the downsides “out there” by visiting and comparing GoldMoney against MonexGold’s website in Newport Beach, CA.
What a massive difference in required disclosures and litigation history. Due diligence is a must in this economic environment.
In these times, stay well and prosper.
Jonathan
December 7th, 2010 at 3:23 pm
Jp morgan has been manipualting this for years, they are short a boat load of silver.