One Week After.............................from Rico

Gold has broken below $1200/oz.



One week after the FOMC (Fed's Open Mouth Committee) Gold is down 12% and Silver down 14%.

To put today in context, equities and bonds are rallying on the basis that there will be NO end to QE; and Gold is crashing because QE is ending.

- Yeah, riiiight.

To put the past year or so in context:

- Venezuela asks for repatriation of its 211 tons of Gold. Gets it. Gold price goes up.

- Germany asks for its 374 tons of Gold to be repatriated. Is told no can do...wait seven years. An obvious "market operation" to knock down the price of Gold (and Silver) almost immediately commences.

It's as simple as this:

- NO trader dumps hundreds or thousands of contracts onto the market with "at market" instructions wiith any other purpose tha to take the price down. Period.

Then WHY?

- Also simple. Somebody has been playing fast-and-loose with bullion, and the cookie jar is empty. Oooooops!