Trader blows whistle on gold & silver price manipulation

[GRothschild]

I apologize if this was posted before.


"The banks, which do the Federal Reserve's bidding in the metals markets, have long been the government's lead actors in keeping down the prices of gold and silver, according to a former Goldman Sachs trader working at the London Bullion Market Association."

http://www.nypost.com/p/news/business/metal_are_in_the_pits_2arTlGNbMK7mb1uJeVHb0O#ixzz0l0EuKt83

 

[GRothschild]

I think I'll double my position in gold and silver.
When the manipulation ends as it must eventually, the price will skyrocket.

 

[GRothschild]

You people have made me feel alone here. Where are the gold bugs

What the hell, I was promised gold people here.
It's not like you lost money on gold and thus went away.

I mean vacation I could understand. To be gone in gold Bull Market. Insane

 

[gucci]

Quote from GRothschild:

You people have made me feel alone here.

http://www.youtube.com/watch?v=seSFQkNT46c

 

[nazzdack]

Quote from GRothschild:
You people have made me feel alone here.

Do you were a hat made from tin foil or gold leaf?

 

[GRothschild]

Quote from nazzdack:

Do you were a hat made from tin foil or gold leaf?

Platinum my friend........Platinum

 

[peilthetraveler]

People use paper money to buy & sell gold & silver. The amount of paper money people own is finite.

Banks are backed by the federal reserve which prints the said paper money that people use. The amount of paper money the feds own is infinite.


Advantage...banks.


Only two ways out of this. One is to charge the banks with fraud and get them shut down and the CEOs arrested.

The other way is that if retailers of gold & silver start ignoring what the markets say gold & silver is worth. For instance...if silver spot is $18 per oz,and retailers refuse to sell for less than $50 per oz, then the price will have to rise for silver spot or risk people taking delivery on contracts. If people take delivery, they will default and be forced to settle with cash which will then make headlines and gold & silver will be hoarded.

The latter way would be the harder one to pull off i think. Getting everyone to try to sell their PMs for a set price and not undercut each other. I personally never plan to sell my silver unless I need it for something else. More than half my savings is in gold & silver and I know there are 1000s of others like me.

 

[stock777]

yeah, i'd feel all naked and stuff without my gold.

i mean , if there wasn't gold, you'd have to lust after , what, old pez containers?