This strange event happened this past Tuesday in the COMEX New York markets but I didn't have time to post it until now. Not much to add here in the commentary that the pictures don't say themselves, except that market prices of two different assets do not plunge in tandem by 1.2% within a matter of half-an-hour or so at precisely the same time and then gain everything back in the next two hours if their prices are set by free and fair markets. In regard to the buzz on the blogosphere this week regarding rebuttals to gold and silver market manipulator deniers, I believe that a lot of gold/silver analysts that deny gold/silver market manipulation actually believe, and firmly believe, that the gold/silver markets are manipulated. How can you not believe, given the numerous instances of tens, and sometimes, hundreds of millions of paper silver (and paper gold) ounces dumped in the futures markets immediately before intra-day crashes in price that occur on a nearly weekly basis now? In the face of all the evidence, including documented minutes of the US Federal Reserve that actually admit to gold/silver market rigging (just refer to any of a number of GATA publications), the gold/silver analysts that continue to deny market rigging would:
(1) either have to possess so little critical thinking ability that they also believe that OJ Simpson was innocent of murdering Nicole, that Santa delivers gifts to billions of households in one night on Christmas Eve, and that a flying tooth fairy delivered money underneath their pillow when they were a child; or
(2) simply have chosen to deny manipulation as a pure Machiavellian business decision.
I believe that the reason for continued denial of gold/silver price suppression schemes from gold/silver analysts today is answer (2).
Rather than expose the truth about the corrupt and criminal banking cartel's price suppression schemes and help people understand the reality of rigged gold and silver markets, those that continue to deny gold/silver price suppression schemes and whose business depends upon analysis of gold and silver realize that such an open and honest stance is not the opinion of the mainstream masses. Thus, they know openly speaking about this would hurt their business sales, and perhaps quite significantly. After all, the sweet spot of money to be made for any business lies within the mainstream and popular view. As long as one can "sell" one's belief in this view, even if one may not really believe it, then one can keep convincing the largest market share to buy. And this is the REAL reason why I believe that many intelligent gold/silver analysts out there continue to publicly deny gold and silver manipulation while likely privately harboring an opposition view. Still, all the attempts of the banking cartel to suppress gold and silver prices remain subject to the Law of Diminishing Returns, and gold and silver, while still range bound at the moment, will break free and continue their upward trend soon enough.
About the author: JS Kim is the Founder & Chief Investment Strategist of SmartKnowledgeU, a fiercely independent, precious metals focused investment research & consulting firm dedicated to exposing the fraud of the global financial system and helping clients build wealth by understanding truth.