Gold Price Suppression Hits CNBC
I had to do a double take before I believed what my eyes and ears were telling me.
The topic of gold price suppression being discussed openly and seriously on mainstream financial tv.
The guest speaker is Ben Davies, CEO of Hinde Capital.
Recently, the topic received mainstream fiancial coverage in Germany at Focus Money Online. [in Gernan]
And not much beating around the bush by Trader Dan's latest commentary:
Until the morons who run the funds and have all the funny money at their disposal wise up and start standing for delivery at the Comex, they will get their asses handed to them courtesy of the bullion banks. I cannot help it that these guys are too damn lazy to take the necessary steps to acquire the physical metal, warehouse and insure it. After all, some of these same funds have been known to hoard copper and warehouse the stuff in order to squeeze the shorts. Remember when some of these same players were renting up all the available oil tanker space to store crude oil offshore and keep it off the market back when crude was making its run towards $150. Why they refuse to do the same with gold is really difficult to grasp unless of course they are fearful of government regulators sniffing around their business. Maybe the word has gotten out that this will be the case with any hedge fund manager who dares to try to force the shorts to delivery the gold. One thing along this line – China or Russia nor mid-Eastern interests are under no such constraints and could break the back of the bullion banks tomorrow if they chose to do so. That they have not signifies that they are not through acquiring cheap gold yet. Those folks, along with India, will be the ones who put the floor in for gold and cause the technical indicators to bottom and then turn up. The funds will then buy high and buy even higher and chase prices up once again. It has happened over and over and over again for nearly 10 years now. It will continue to occur until at such time the gold price levels off at a permanent higher plateau and remains there.
Long and strong and completely unfazed by this sell-off,