Bullion Banks Desperate To Trigger Sell Stops

They have been trying to push silver lower for weeks in an attempt to reach that target area in order to create that wave of selling by triggering the sell stops. It’s a game that they have been playing for years.

Triggering those sell stops will give the syndicate of bullion banks, who act as agents for the Fed and other Western central banks, an opportunity to cover many of their short positions in the silver market. Thus, they have been selling loads of paper silver in a desperate attempt to thwart the tidal wave of buying coming into the Comex. And it is a tidal wave.

Also of importance is the fact that the EFPs have ballooned in recent days, particularly for gold. Flat gold and silver prices in the face of soaring Open Interest would be a blatant sign of price manipulation. So the central planners are frantically shifting their shorts to the London OTC market in an attempt to keep Comex open interest from soaring, but all of their selling has been to little avail. Despite numerous attempts to crack silver, they have failed. The same is true for gold.

The central planners even got the mainstream media working for them. For example, a few days ago Bloomberg reported: “Mysterious Gold Trades of 4 Million Ounces Spur Price Plunge.” Obviously the word “plunge” was meant to scare, but hidden in the article was the actual result of this huge sale. To quote the article, there was “a sell-off, sending prices down as much as 1.1 percent.”

- Source, James Turk via King World News