Another insider feels compelled to admit the gold market is rigged

Tuesday, November 14, 2017
By Paul Martin

By: Chris Powell
GoldSeek.com
Tuesday, 14 November 2017

Dear Friend of GATA and Gold:

Writing over the weekend for the Sharps Pixley bullion dealership in London, market analyst Lawrie Williams confided that he increasingly believes that the gold market is being rigged. Williams wrote that he has been pushed to such a conclusion by the growing number of smashes to the market out of the blue.

Williams wrote: “We have just seen yet another instance of a totally insane volume of notional gold hitting the futures markets, surely designed to stop any positive momentum for gold in its tracks. I say ‘insane’ because in a true fair market no one in their right minds would put so much on the market in such a short space of time even if it involves only paper gold rather than actual bullion. …

“These ‘flash crashes’ in the precious metals prices seem to be happening every time we start to see positive moves in the gold price. That cannot be coincidental. [GATA board member] Ed Steer, who publishes a daily newsletter to subscribers, called it ‘a picture-postcard waterfall decline’ — an apt description . …

“Ed places the latest ‘flash crash’ firmly at the hands of JP Morgan and the other bullion banks that hold large short positions in the precious metals — particularly in gold and silver — and thus have a vested interest in keeping the price suppressed. Ed’s views are well-known on market manipulation and are not seen as reality by some precious metals market mainstream observers, but these ‘coincidental’ flash crashes do seem increasingly to support his viewpoint as a counter-argument to what might be considered the mainstream financial establishment, which is very much in denial — probably because such manipulation appears to be an integral part of doing business in the sector.”

Bingo, Lawrie. Yes, the gold industry is the market-rigging industry, a giant real-life episode of “The Emperor’s New Clothes,” where everybody can see what is going on but no one dares say it except a few naive little kids who happened to pass by the parade, were not let in on the scheme, and only gradually deduced its evil and world-encompassing intent.

But things are changing if even some respected insiders like Williams and Dennis Gartman can question the scheme in public within a few hours of each other. Indeed, it has started to seem as if the central banks and governments masterminding the scheme are now in such stress that they can’t worry about being caught — that they know they have been caught and increasingly must resort to smashing the gold market in the open to try to warn off and intimidate investors, telling them in a crude way what Federal Reserve Chairman Alan Greenspan told them in testimony to Congress in 1998: “Central banks stand ready to lease gold in increasing quantities should the price rise”:

The Rest…HERE

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