Gold, Silver, Massive Leverage & Super Wealthy Panicking
May 19, 2013
On the heels of continued volatility in gold and silver, today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, discusses gold, silver, massive leverage and the race by the super wealthy to get out of fiat currencies.
Below is Fitzwilson’s exclusive piece for KWN:
Fitzwilson: “The term bucket shop is one that has been around for almost 200 years and its roots can be traced to England. Street urchins would gather kegs of beer that had been mostly tapped and discarded from pubs. The kegs would be taken to an abandoned building and the beer would be drunk.
In the financial markets, bucket shops arose at a time when exchanges dominated the majority of the transactions, certainly the larger and more profitable ones.
A bucket shop has been defined as:
“[a]n establishment, nominally for the transaction of a stock exchange business, or business of similar character, but really for the registration of bets, or wagers, usually for small amounts, on the rise or fall of the prices of stocks, grain, oil, etc., there being no transfer or delivery of the stock or commodities nominally dealt in.”….