You could be right Montanore but...
Gold manipulation is not a phenomenon that is restricted to profiteers from the West. The Eastern nations have an interest in gold and if they want to accumulate,it makes sense to buy it cheaper. Since they are the only nations that have the financial muscle to invest in a longer term strategy to acquire gold,it also makes sense that they control where the bottom will be.
The legal gold and essential commodity related manipulation that is present in, the markets today is condoned by and participated in from the West and in my opinion now controlled by the East. If you think through it all ; 1. Where's the financial backing ? and 2. Who wants gold to return to under 1000/oz ?
Answers are 1. China 2. China and the West
Buying or selling gold in markets throughout the world, by standards of international law says ,IT MUST BE REPORTED. (by the Bullion Bank handling the transaction) however...
Leasing gold to a Bullion Bank requires NO REPORTING at all.
The largest Bullion Banks in the world are out of London (which is where the largest gold transactions occur ). Some very familiar names are among the top 6 Banks ,known by major retailers of bullion and coins as;
(The big six clearinghouses )
1.HSBC * 2. Barclays Bank PLC 3.JPMorgan Chase Bank 4. Scotia-Mocatta 5.Deutsche Bank AG 6.U.B.S.AG
* Hong Kong and Shanghai Banking Corporation
If you understand the principals ,you can better comprehend the scheme and how legal gold manipulation will continue....
(Remember that Central Banks in the East are just as likely ,if not more likely to deal out of the watchful eye of public scrutiny ).
China's Central Bank can pretty much do whatever they want and since the days of Hong Kong and Imperial rule ,the connection between Britain and China is unparalleled in business that today we would consider manipulation,legal or not ,it exists and has for centuries. The U.S. has been a stand in for the last 100 years or so and like I said ,still an active participant.
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