Thursday, June 26, 2014

Government is the Real Manipulator of Gold

A select group of bullion banks are simply the front-men, acting as agents of the gold price suppression scheme devised and engineered by governments, and Barclays Bank may not even be among this chosen group. After all, it was accused of manipulating the gold price by a dollar around the London fix, but the FCA did not investigate the big $18 drop in the gold price that had already occurred from the previous day. The FCA only went so far to note the impact on the gold price from extreme selling in the US market by reporting that there was “a drop in the price of August COMEX Gold Futures (which was caused by significant selling in the August COMEX Gold Futures market, independent of Barclays and Mr Plunkett).”

So who was the real manipulator of the gold price that day? Why isn’t the CFTC doing its job by investigating this manipulation? And what about investigating the flash-crashes where imponderable weights of gold are sold on the COMEX in mere seconds?

You will get old waiting for an investigation. We all know that the CFTC turns a blind eye to the manipulations by the US government. But at least something is being done in London. The FCA made a small step in the right direction, and so has the LBMA.

- Source, James Turk via King World News

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