Jamie DimonLast week the financial MSM admitted for the first time that the West’s gold is being physically drained to Asia and that London’s gold vaults are “virtually empty.
Now, allegations that banks are rigging the gold and silver markets continue to gain credence among the mainstream as Bloomberg has published an article by Rosa Abrantes-Metz entitled How to Keep Banks From Rigging Gold Prices’’.

Rosa Abrantes-Metz concludes that gold prices may be manipulated and gives evidence to support her assertion.

Ron Paul was on Bloomberg’s Lunch Money discussing the developing currency wars.  Paul states that the currency wars have been ongoing for decades, but they are now gearing up, but that government’s always compete to devalue their fiat currencies.

Paul informs the Bloomberg host that the loss in purchasing power from currency devaluation in a currency war devastates the middle class, and cancels out any slight benefit that you might be getting temporarily in terms of trade.

Paul also states that one day soon people around the world will reject all fiat currencies, and we will move into an age where people want to buy hard assets, and that this has already started with real estate, gold, & silver

Paul’s full interview on the coming economic collapse is below:

bloomberg goldA reader has submitted evidence that Bloomberg falsified a gold price chart on air in January 2012 in order to discourage investment in the metal.

During an on-air segment touting gold’s extreme volatility, Bloomberg posted a monthly chart of gold depicting the price action of July 2011-Jan 2012In order to paint the perspective that gold is an extremely volatile asset and an unworthy wealth preservation vehicle, the monthly reference points were scrubbed, and replaced with the years 2001-2011The chart displayed also altered the $ value of gold axis (unless we missed something, gold did not dip below $500/ounce in 2010, or in December of 2012).

The mainstream media caught red-handed attempting to manipulate the perspective of precious metals in full visual display below:

RJ O’brien Senior Commodities Broker Phil Streible was on Bloomberg this morning, and when asked by the host for his #1 commodities pick for 2013, Streible responded: Silver!

Streible stated that: The Fed will continue to buy mortgage backed securities and treasuries, causing the Fed’s balance sheet to expand from $2.9 Trillion to $4 Trillion by the end of the year.
The Bloomberg host then asked Streible why then wouldn’t he buy gold rather than silver?

Streible responded:  Ultimately the Fiscal Cliff issues will be resolved, silver prices have been beat up recently, we’ve seen a 10% decline in the last week, and I think that a snap-back short covering rally will occur, and prices will explode!

Full interview below:

Bloomberg has released a MUST WATCH interview with our good friend Eric Sprott of Sprott Asset Management discussing his thoughts on gold.  While unable to specifically discuss silver due to the current PSLV follow-on, Sprott simply destroyed the MSM pundits’ anti-gold arguments, stating that gold has beat the Dickens out of every other asset class over the last 12 years, and questioned whether the Western Central Banks have any physical gold left in the vaults, as the gold listed on their balance sheets includes gold receivables, which has been leased out and is gone for good.

The legendary Eric Sprott’s full MUST WATCH interview below: