Goldfisher:
Yes, every metal trader knows the price of gold and silver is rigged and has been since 1971 when President Nixon told General DeGaulle he would no longer exchange US dollars for gold and the US went "off" the gold standard.
The CFTC knows as well, but they take their orders from the US Treasury. The eight bullion banks that rig it know, including our own Bank of Nova Scotia.
So does the Federal Reserve and the US Treasury, both of whom instruct the eight bullion banks to keep rigging the prices through naked shorts to desperately try and preserve the value of the US Dollar, the reserve currency of the world.
The real question is: So what ? What can anyone do about it ?
And the answer is: Nothing...........unless........every Company, Fund or individual from this day forward never buys another call option on gold or silver, or a single share / unit of a gold or silver ETF and always, invariably and without exception, insists on physical delivery of every ounce they buy from their Bank or Dealer.
But that just will not happen. So we sit. And we wait. And we make sure we hold lots of gold mining stocks, like SGR. When the inevitable gold and silver Armageddon arrives, the Federal Governments of all Countries will force their Mining companies to sell their gold and silver directly to them, and only to them, as China and Russia have already done. And then we will finally be rewarded for our patience and foresight.
My prediction is that Gold will jump to $5,000 per ounce and Silver to $200 per ounce since those, as a minimum, are the selling prices that will be necessary to mine the lower grade ores and create the gold /silver exploration rush necessary to meet the world wide demand.
As a fortuitous consequence it will also mean the end of unemployment all over the world. Everyone who doesn't have a job, and wants one, will be hired as a miner. And since Canada has so much yet-to-be-discovered gold and silver, our population should explode from 33 million to 66 million almost overnight.
And on a yet-to-be-determined future date, ALL paper money will be backed 100% by Gold or Silver bullion, so that never again, will the citizens of the world be robbed of their lives and their savings by Governments who lack the courage or the sense to stop creating money out of thin air.
Fred25
