Explaining Gold Prices and Manipulation
Please put this on the front page
Excerpt from http://the-moneychanger.com/numismatic_files/confiscation.phtml
FOLLOW THE MONEY
Here you must follow the money, a twisted trail beginning with the gold carry trade. About 20 years ago central banks began loaning out their gold reserves, mostly to mining companies. After all, the reserves were just sitting there earning nothing. Why not put them to work? Miners could borrow gold at minuscule rates, one-half to one percent a year, sell the gold, use the proceeds to finance exploration and development, then repay the loans with newly mined gold. Borrow gold – pay back gold.
It worked so well that hedge funds began to wet their beaks -- not in mining gold, of course, but merely in borrowing gold at low rates, selling it, and investing the proceeds in government bonds paying 5 – 6%. Free money – just back up the truck. Beginning about 1996, the gold carry trade exploded.
Midwives to this trade were the bullion banks. Everybody would remain happy, wealthy, and wise as long as the price of gold didn’t rise above the price where they had sold it. Better yet, the further gold sank, the larger the “kicker profit” that borrowers reaped – the interest rate differential plus the profit from shorting gold.
Pretty soon the gold carry trade had attracted a fairly large flock of wet beaks – bullion banks, hedge funds, miners, and central banks – who didn’t want to see gold’s price rise at all. Not coincidentally, many of the wet beaks or their wetters were plugged into government positions such as the United States Treasury – positions powerful enough to influence the price of gold behind the curtains.
Questions to the Commodity Futures Trading Commission
Dear Sir or Madame,
I live in Germany and apologize for my english.
I'm trying since months now to get an answer from the CFTC to some questions, but I got none till now.
I wrote to the following recipients:
Silverinquiry@cftc.gov, Wlukken@cftc.gov, Mdunn@cftc.gov, BChilton@CFTC.gov, Jsommers@cftc.gov, Alavik@cftc.gov, Sobie@cftc.gov
Each question can be answered with a simple number.
I don't ask for an answer from a commissioner. It'd be enough from a member of their staff.
Mr. Chris Powell of GATA informed me, that the CFTC has answered many questions about this issue posed by US citizens.
Maybe the CFTC think that the manipulation of the silver prise is an US issue.
I think, not only US citizens have a right to know what is going on at the Comex.
That is the reason why I'm begging someone of you to pose these questions to the CFTC, and then, in the case of an answer, to be informed about it.
I thank you in advance for your help.
Best regards
Marco Nussbaum
goldsilber68@hotmail.de
Following my mail to the CFTC:
Dear Sir or Madame,
a) According to the Bank Participation report in Futures Markets for August, as of July 1, 2008, two U.S. banks were short 6,199 contracts of COMEX silver (30,995,000 ounces). As of August 5, 2008, two U.S. banks were short 33,805 contracts of COMEX silver (169,025,000 ounces), an increase of more than five-fold.
That's equal to 20% or more of the annual world mine production or the entire COMEX warehouse stockpile, the second largest inventory in the world.
Could you please tell me how many contracts the largest trader held short in COMEX silver futures on 8/5? I am not interested in its identity. I'd like only to know which was its share of the total short side of the COMEX silver futures market.
b) The Commitment of Traders Report for positions held as of 7/25 shows, that in terms of the percentage of the total COMEX silver futures market, the 8 largest traders hold 81% of the entire short side, once all spreads are netted out.
You should not find a major market with a larger concentration by U.S. banks than the 28% held by the one or two in silver, long or short on 8/5. And the 28% concentration listed in the Bank Participation report in Futures Markets is not adjusted to remove spreads, which gooses the percentage of real concentration even higher, to more than 36%.
This means: one (maybe two) U.S. bank held a net 36% share of the entire COMEX silver market. The same one or two U.S. banks hold 82% of the total commercial net short position.
This was not enough for you to begin an investigation. You began an investigation only in september because of the growing complaining of investors.
How big should be the net share of the short side of the Comex silver futures market for you to suspect a manipulation and begin spontaneously an investigation?
c) As of August 5, 2008, one or two U.S. banks were short 33,805 contracts.
33,805 contracts are the equivalent of 20-25% of the annual world mine production.
How much silver should one bank sell short (maybe naked short), for you to think about a manipulation of the market?
d) On December 2, as silver closed at $9.57, exactly 2 U.S. banks held a net short positioning of 24,555 contracts. The CFTC reports that as of the same date all traders classed as commercial held a net short positioning of 24,894 contracts. So, the 2 U.S. banks, with one particular Fed member bank probably holding almost all of it, held a sickening 98.64% of all the collective commercial net short positioning on the COMEX, division of NYMEX in New York.
Is this not a infringement against the CFTC’s anti-concentration rules?
e) As of the close of business Jan 20, a new multi-year record was set in the percentage of the market held by the 4 largest short traders, at 48%. And when all spreads are removed from both the non-commercial and commercial categories, as is proper, the true net short position of the 4 largest traders runs over 66% of the entire COMEX futures market, the largest silver market in the world. In other words, 4 traders hold two-thirds of all the true short positions on the COMEX.
How big should be the concentration on the short side of the Comex, for you to stop inquiring and intervene?
Best regards
MN
Gold Tripled and His Fears Never Materialized
It sounds like this article was written back around 2001. He mentions gold prices around $315 and how it was so important to all of these conspirators to keep it under $350 or else all hell would broke loose.
So now that gold has tripled, has his premise been proven wrong since the government hasn't confiscated anyone's gold? Did all those people who were relying on gold to stay below $350 get wiped out?
At the DP we have agreed that the fed is a privately owned
the folks who own the fed are one world government freaks....thus they have a plan that is not a secret in any way.
Gold pretty much belongs to them...it, like any other market on this planet is controlled by the above folks.
It is THEIR currency.
It is THEIR liquidity.
It is their show...they control the media also.
If they want million dollar an ounce gold they will have it. If they want $230 an ounce gold they will have it.
Tell the truth and the lie will fall.
Unify
this is why you buy
this is why you buy silver... very few ounces a very small market.. when the silver manipulation is broken, the gold manipulation will be also.. I say it is every Patriots duty to buy silver...
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Tyou are wrong on this.. you
T you are wrong on this.. you buy it you own it.. we know the gold and silver is owned by "them" what you have to understand is this.. through out the history of the world manipulations have come and gone.. they all have ended and ended very badly for the manipulators.. when you, I, and every other person buys you are taking away what they have and want.. sooner rather then later the manipulation is broken and they are taken down! who cares if they go to 230.00 an ounce gold! let it go! buy it up! there are a hell of alont more of us then them.. tell the truth and the lie will fall is exactly right! buy the metals they control and sooner or later they lose control!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
My gold belongs to me
not any government or NWO freak. I will use it as exchange with other like-minded human beings. Did you even read the post? This is information that 98% of the population is clueless about. What's the matter, don't you want people reading this post? Once the truth is realized, gold is free again. It will be out of the control of the villains that use the Comex to keep it in chains. You're spewing defeatist bullshit.
We don't fear lies -
We fear the truth.
Who is we?
You and tstorey?
ROFLMAO
I was thinking we... like, this morning I was talking to a couple Obammy bots at the health club. I was telling them about Obammy's citizenship issues. One, a public school teacher won't listen, because he says it's racist, the other nearly died when I told him some details about it, but refused to go to obamacrimes.com, because he voted for Obama. Now, that's the, "we", I'm referring to that fears truth.
I gave up on the truth along time ago in the empire of lies. I'm just bidding my time now watching all the fools who bought, "Change you can believe in", (going to the poor house).
It is not coincidental, the generic use of Obama's word "Change" (above), he is a Harvard lawyer, what did you expect, that could even mean worse.
What would you do if Obama died today?
Would you explain to people why you support Ron Paul?
Or would you tell everyone that the new candidate was a homo/drug-user/atheist/non-citizen (delete as applicable)?
The former approach could actually work. The latter approach never will.
http://brits4ronpaul.blogspot.com/
http://lpuk.blogspot.com/
http://northwestlibertarians.blogspot.com/
lol.. i would do both! "When
lol.. i would do both!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Ad Hominem (to the man) attacks don't work. They backfire.
If Ron Paul can persuade me, a former card-carrying communist, he can persuade any Obamabot.
He didn't use cat-calls and personal attacks. If he had, I would have switched off the videos he was on before I'd even heard his political philosophy. I'm so glad he didn't do that!
http://brits4ronpaul.blogspot.com/
http://lpuk.blogspot.com/
http://northwestlibertarians.blogspot.com/