There really have not been 'markets' as we used to understand them since 2008, and the rigging/manipulation is becoming more flagrant and blatant.
- Rigging? Manipulation? Nawww, say it ain't so. Maybe the LIBOR or the EURIBOR can be rigged and manipulated, but surely NOT the CME's paper COMEX (which is not known as the CRIMEX for no good reason).
Today's massive paper 'raids' in the Gold and Silver spot markets are a case in point.
- Maybe some hapless whale trader decided to 'dump' 24-tons of paper Gold onto the market within minutes to "maximize" his selling loss.
or
- The cartel is desperately trying to suppress the physical price of Gold and Silver bullion by manipulating the paper markets. Not that JPM, or anyone, has massive concentrated naked short positions that need to be protected or anything.
Maybe the regulators at the CFTC will get back to the public with an answer by 2017 or so. Maybe.
- But I guess their investigation of MF Global has to take first priority...once it is launched, that is.
Meanwhile, paper 'promises' and pinky-swears mean less and less with each passing day, and these paper markets are like playing craps with loaded dice.
- Better play it "safe" with equities and bonds, eh? Yeah. Sure. Bwa-hahahahaha!!
- If you do not hold your assets yourself, then you do not own (or control) those assets. Just ask the Bundesbank what THEY think about that, and about who controls their Gold?
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