Trader blows whistle on gold & silver price manipulation

[Cold Highway]

Also during the CFTC hearing, Jeff Christian, founder of the commodities firm CPM Group, said that the LBMA, the physical delivery market for gold and silver in the UK, has been using leverage, which is another way to depress the price of gold and silver.

Christian said that the LBMA -- the same market Maguire trades in -- has leverage of about 100-1 on the gold bars settled on the exchange. In layman's terms, that means if 100 clients requested their bullion bars be delivered, the exchange could only give one client the precious metal.

****ing sick! The SOBs know that the dollar is going down and that regular people are buying precious metals in order to prevent their savings from being totally wiped out via inflation so what do they do? **** with the market!

Ex-Goldman trader blows whistle on silver and gold manipulation by JPMorgan, HSBC - NYPOST.com

 

[Ikari]

****ing sick! The SOBs know that the dollar is going down and that regular people are buying precious metals in order to prevent their savings from being totally wiped out via inflation so what do they do? **** with the market!

Ex-Goldman trader blows whistle on silver and gold manipulation by JPMorgan, HSBC - NYPOST.com

Which is really why we can't go back to a metal backed currency sadly enough.

 

[PeteEU]

****ing sick! The SOBs know that the dollar is going down and that regular people are buying precious metals in order to prevent their savings from being totally wiped out via inflation so what do they do? **** with the market!

Ex-Goldman trader blows whistle on silver and gold manipulation by JPMorgan, HSBC - NYPOST.com

its the free market!

And they not only doing it with gold and silver. Oil, Euro, Dollar, you name it.

It should be banned, or at least have the criteria that you have to physically own the damn thing to speculate in it. Much of the speculation is done via "loaned" commodities, as in most speculators dont have 10 tons of gold to play around with, but "borrow" it to be able to sell and buy it on.

 

[Lord Tammerlain]

The best way to end it and it has been suggested by GATA and Jim Sinclair

Take physical possesion of the gold that you have purchased.

Dont leave it at the depository, but take physical control over it.

 

[LaMidRighter]

The best way to end it and it has been suggested by GATA and Jim Sinclair

Take physical possesion of the gold that you have purchased.

Dont leave it at the depository, but take physical control over it.

Sounds like good advice, but I think there are still laws against personal holdings. I could be wrong on that. Still, market manipulation is disgusting.

 

[LaMidRighter]

its the free market!

And they not only doing it with gold and silver. Oil, Euro, Dollar, you name it.

Do you ever listen to how this sounds before you post it? A free market is not by it's very nature manipulated, people adjust to it accordingly with winners and losers equaling out over time. If a market is manipulated by either too much regulation, speculation, or outright fraud it isn't free. Go read up on Econ theory before saying this type of nonsense.

It should be banned, or at least have the criteria that you have to physically own the damn thing to speculate in it. Much of the speculation is done via "loaned" commodities, as in most speculators dont have 10 tons of gold to play around with, but "borrow" it to be able to sell and buy it on.

Spain can do whatever it wants to it's stock market or the EU, but this one is none of your business. Thus your opinion is dismissed.

 

[American]

its the free market!

And they not only doing it with gold and silver. Oil, Euro, Dollar, you name it.

It should be banned, or at least have the criteria that you have to physically own the damn thing to speculate in it. Much of the speculation is done via "loaned" commodities, as in most speculators dont have 10 tons of gold to play around with, but "borrow" it to be able to sell and buy it on.

I usually keep an extra ton or so in my basement for rainy days.