So yes, the fed can easily control gold, and Bernanke's speech just gave them an additional reason to do so. =============================================================
Hi ml,
And anyone who doesn't believe that the Governmental gold and silver future's trading watchdog agency, The Commodity Futures Trading Commission (CFTC) as well as The COMEX Futures Exchange are influenced by Greenspan and Snow will qualify for the not-so-very highly coveted basserdan lack of insight award as shown below:
A brief tour of the non filtered board seems to indicate that market watcher, sherlock 356, lee kramer and limtex have nominated themselves for the award. <vbg>
TJ Parker tried what appears to be little more than a halfhearted back door effort to gain the award by co-signing one of sherlock's moot points and, of course, was rejected for a lack of originality. <ggg>
In a more serious vein, The COMEX Gold futures open interest is up around another 8000 contracts as of Friday's close from the last report, so it would appear that neither side has really blinked yet.
I'm going to call the CFTC tomorrow to see what differentiates a large speculator from a small speculator and who qualifies as such, because if an ordinary mutual fund who happens to clear through one of the COMEX clearinghouses like REFCO, for instance, is considered a large speculator, AKA smart money, I'm going to have change my "The battle of the titans." designation of last weeks COT #'s ( #msg-1353456 ) because I don't think that it is a fair matchup with a smart money commercial short, if you know what I mean.
And just when I was getting real comfortable with things... <sigh>
mlsoft, what, or who, has prevented AG from supporting/interfering with the markets during the several serious declines in the 2000-2002 timeframe?--this is the question that comes to mind anytime I'm starting to get convinced that he does so now... Where's the difference?
Thanks for your input. I just cannot make up my mind whether gold will be able to continue higher considering all of the people--powerful people--who do not want it to rise. Could it get away from them? Of course it could, but for how long? Hmmmmm.