It comes as no surprise that a report on counterfeit gold coins hits the media right about the same time that several Fed officials are once again threatening the world with a gargantuan one-quarter of one percent nudge up in the Fed funds rate. Both are targeted at throwing cold water on investor demand for gold and assisting the Fed with pushing the price of gold lower. The entire U.S. propaganda apparatus has become Orwell on steroids.
Comex options expiration for June gold – the current “front-month” gold contract – is Wednesday. Typically this is a signal that the metals are going to be boomeranged lower temporarily. In scanning the put/call open interest ladder, interestingly there’s a sizeable imbalance in which the there’s at least twice as many open puts are there are calls. I can’t recall seeing that (although I’m sure it’s occurred), as typically it’s the other way around. It will be interesting to see how this plays out.
Rory Hall (The Daily Coin) and I discussed the alleged “flood of fake gold/silver coins” hitting the market and where the stock market may be headed in our current Shadow of Truth Market Update:
I’ve said it a million times and I’ll say it again – until the criminals that are manipulating the price are prosecuted, the price will stay manipulated. Enjoy your site.
Until the COMEX “system” of price control breaks.
I don’t think that matters, as the criminals don’t care if there is no physical gold or silver. The prices are manipulated with paper contracts. And who knows when the COMEX will break anyway? That could be years or decades from now.
Mike,
PM prices are manipulated with paper contracts primarily on the COMEX, not LBMA or anywhere else.
When selling premiums are way above COMEX spot that is a defacto default. But a failure to deliver physical metal is also a default. China or Russia could do that any time they want to…but it would negatively affect them also,
Dave, I seriously had not read that Snyder post on commercial defaults before my last blog post? serious synchronicity there? did he really post that on the 22nd? anyway I reckon he predated that after reading your blog… 🙂 your the man Dave !!!!!
LOL I dunno
The manipulation is definitely being used to shake out weak hands,
and insure that when the criminals throw the switch to crash the paper
markets no one will have anything of value. That’s when the real control
starts. Dependency on the government for all personal needs or an
accelerated eugenics scenario much like what is happening in Venezuela.
Maybe Venezuela is the test country for the rest of the world?