Excerpts from LeMetropole Café
"With the advent of powerful computers, sophisticated algorithms, mountains of derivatives, as well as other arcane instruments, the ability to manipulate markets and suppress prices has reached a point never before imagined." … John Embry in King World News interview
What just happened in the metals market was a by-product of a creatively planned and well-orchestrated take-down of gold/silver by the Federal Reserve, with the help of the bullion banks (JPM, Goldman, etc) and the unwitting help of the big, computer-driven macro hedge funds…
Price declines caused by legitimate selling and panicked longs are not marked by increasing open interest. That is the hallmark of short selling with a purpose…
…Perhaps we get some sort of breakthrough when The Secret World of Gold is aired tomorrow night on CBC. Some of the people producer Brian McKenna interviewed, like myself, told him about The Gold Cartel, what they do, and why. Whether he used the material, or was allowed to, is another matter.
here is an audio preview…http://podcast.cbc.ca/mp3/podcasts/current_20130416_22647.mp3 … it gives a flavour of the documentary "The Secret World of Gold" that can be heard outside Canada. … Fast forward to the 10:00 mark
this rout is over.
… growing talk in Switzerland of an international banking failure. Nothing would surprise me after what we have just seen.
… gold manipulation shows more interest. This time from Forbes.
*Gold's Price Collapse And 4,500 Tons Of Mysterious American Gold Exports..
The "Waterloo" of gold price management is the physical market. That is what makes gold different from purely paper products like Facebook. That's why it is not possible to control the price in the long term without a ready source of physical gold to meet this demand. Physical buyers can and do terminate events such as the ones we've just seen. They've been doing it for at least the last 12 years, every time. The reason for that is the "ready supplier" is running out of gold.
Paul Craig Roberts: Attack on gold is just part of pervasive corruption
Former Assistant Treasury Secretary Paul Craig Roberts
… how quickly we forget that ABN/Amro declared a force majeure and stopped all physical delivery of bullion, forcing settlement in cash. The soft default of a major bullion bank is no joke, especially when it appears they could not obtain suitable goods at any price.
… gold may have been a necessary misdirection with the real target being silver, which hardly anyone is talking about, even the house economists and spokesmodels for the status quo.
John Embry expresses amazement that the paper gold and silver markets have diverged so much from the market for real metal. "You are getting anecdotal evidence that retail outlets are being cleaned out across America," Embry says. "They are not fooling the people who know what is going on."
An excerpt from the interview is posted at the King World News blog here:
‘The volume is without precedent and has all the characteristics of a panic liquidation driven by naked short selling.