14 July 2010

Gold Has a Determined Seller Over 1215: the Pressure Under the Price Capping Continues to Build

There is a determined seller of gold over 1215.

This is not profit taking. One does not smash price rallies down to obtain profits from selling actual positions.

This is price manipulation, pure and simple, from hedge funds and bullion banks in not only in the gold and silver markets, but in stocks and most other dollar denominated financial instruments.

Most recently Karl Denninger gave clear evidence of the manipulation in the SP futures market. The US is caught in the grip of financial fraud, and it is becoming increasingly blatant, almost arrogant.

And when their scheme breaks, as it will again, we should have no consideration for their default, and insolvency. If the word 'bailout' is even mentioned in this regard, that would be the time for the people to stand up say, 'no more.'

Audits, investigations, indictments, prosecution, punishment, and restitution. This is foundation of justice, and financial reform.