Thursday, March 19, 2020 1:08:39 PM
Ok In a nut shell, the US COMEX gold and silver futures and options market (aka CRIMEX or the casino) was set up specifically to manipulate the price of gold and silver. This was proven in a 1974 Cable from the US State Department released by Wikileaks.
Ok here's how the scam works. The bullion banks naked short gold and silver to suppress the price (and for fun and profits - most of the time). Rising gold prices are perceived as a sign of financial instability. GATA.org has documented decades of evidence of this manipulation.
Recently their naked shorting has been in record territory as evidence by the Open Interest (OI). A future is created when someone puts. a contract up for sale - thus OI increases. What is all too apparent is that the OI for gold and especially silver is way higher than the COMEX ozs for sale AND even more that the gold or silver in their vaults - even including gold and silver not for sale. They are naked shorted on a massive level.
There are cracks showing in this scam as demand around the world has been surging. Central banks for example have had two of their biggest purchase years in 2018 and 2019 - bigger any any year going back 50 years or more.
With the latest round of out of control money printing all over the world, the demand for gold and silver has surged even more - with supplies drying up. In a normal market this would drive the prices of the raw commodity up but not gold and silver - they are being hammered.
But when you look more closely - you see massive contract churn and OI decline as the bullion banksters "Buy to Cover" their short. Without doing this - as Hemke notes - they would lose billions on a price surge. So they hammer the price and shake the contract holders to sell.
The good news is about 40% of all gold contracts declare for delivery on March 30th or rollover which means the cartel (ie the bankster cabal behind all this manipulaton) will probably do most of the rest their price bashing between now and the 30th. Their exposure to downside risk will be reduced as these contracts roll off the board as they say.
Buyers of futures probably know all of this and are probably waiting until the Apr's are off the board and the price bashing subsides.
BTW The CME that runs the CRIMEX also advertises discounts for Central Banks so they can screw with the markets also.
Ask yourself why?
https://stockhouse.com/companies/bullboard?symbol=t.kl&postid=30826665
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