![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
The cartel raided gold and silver just prior to the COMEX open this morning, as once again (last seen with the $50 gold smash 5 minutes prior to the Swiss National Bank devaluation of the CHF) gold and silver have been smashed counter-intuitively immediately prior to new massive easing.
The Bank of England announced £50 billion in new QE this morning, the ECB slashed rates 25 basis points, even the Peoples Bank of China slashed rates, and GOLD AND SILVER GET HAMMERED!
Silver was raided a dollar from $28.40 to $27.50, and has since worked back to $27.70.
![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)
Gold was smashed $25 back through the critical $1600, but massive buying emerged under $1600, and gold spent roughly 30 seconds below the level.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
Doesn’t it make sense that China is also in ca-hoots with keeping the metal prices beat down? All the while they are buying gold by hundreds of metric tons. Aren’t they the largest buyers of metals in the world and who benefits more from these beat downs than China?
Gee, what a surprise.
If someone who had the money actually took these guys on, with $10 billion they could buy 350million ounces of physical. If they did that they would blow the whole silver market apart.
Recent movements in dark pools would also indicate UK covertly using QE to purchase gold. Now recognising their weakness in gold reserves compared to the rest of EU….
The gist of some recent comments on previous threads sounds like, “The manipulators can not keep the price down for much longer.“
Well, maybe not. But then again, keep in mind that saying, “The markets can remain irrational longer than you can remail solvent.” THAT is why one may want to be hesitant about borrowing to purchase PM’s.
ouch
The paper belongs to them, it’s true. They can send it careening this way and that.
I don’t think they even need a reason. It’s a regular thing now. Holiday yesterday, smackdown today.
They decreased their shorts lately, so they can issue new ones. It’s cyclic.
Bart’s meeting is next week, maybe he’ll surprise everybody and do his job.
pffft. LoL!
As I’ve posted on SilverDoctors several times is watch for QE3. This is when the next wave of money velocity and resulting inflation will being to increase.
Same ole Bearish Bullshit as usual!
While I would be the last one to question the manipulation of PM’s (I have the portfolio losses to prove it too… lol), this one was not a direct PM raid.
Link to USD chart… http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx?m=c
IMO the only way for the central governements of the UK and the US to get some gold back in the vaults, assuming that is in the game plan, is to steal it from some smaller country like Libya, Egypt, Iraq and who knows what other country that finds themselves in the gun sights of goldless central banks. That seems to be the MO in recent years
Just posted on SGT Diamond, former chief of Barclay’s just tossed a hand grenade into Queen Elizabeth’s knickers. An email between him and the B of E heavies notes very clearly he was under orders from the highest level to rig LIBOR. This is going to get really interesting. Maybe the Tower of Londen will get a new guest. Hee-bloody-Haw
Just posted on SGT Diamond, former chief of Barclay’s, just tossed a hand grenade into Queen Elizabeth’s knickers. An email between him and the B of E heavies notes very clearly he was under orders from the highest level to rig LIBOR. This is going to get really interesting. Maybe the Tower of Londen will get a new guest. Hee-bloody-Haw
Wow thats big AG; I go check it out
I Predicted this Smash in Gold / Silver for Thursday, on Monday… Well its here, and its happening as i speak…. Lets see the dip under 1600. Friday will ride on 1590 Gold and cannot sustain the 1600′s Lets see the the Paper Play this baby down. This start of the week bull run was so fake and predictable. Weekend Close at 1590 and dropping.
As much as I love a good conspiracy, the knock down today was partially because the $ increased in value. QE in the UK debases the £, the madness in Euro-land debases the Euro and then you have China. The £ & Euro both lost ground against the dollar today.
We need QE3 in the US to kick PM’s up the Jacksy. I guess they are holding off until after the presidential election if they can. More printing now would look bad for Obama, and GOP would have a field day.
I watched the knock down today on Forex charts in real time, there was some stiff resistance, it was bobbing up and down like a battle was going on against the sellers and buyers. I’m sure the fall could have been worse.