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