With the stuff really starting the hit the fan now, we awake to news that two criminal law suits have been filed against Goldman Sachs. We also see a technical upside breakout in the weekly HUI gold stocks chart.
Has the increasing pressure and exposure finally begun to unravle the cartel's multi- years suppression of the precious metal stocks? The following from GATA's Chris Powell and The Rolling Stone would appear to support that now with 3 major news papers about to expose all:
"Taibbi writes:
There is more fraud out there, and everyone knows it: front-running, manipulation of the commodities markets, trading ahead of interest-rate moves, hidden losses, Enron-esque accounting, Ponzi schemes in the precious-metals markets, you name it. We gave these people nearly a trillion bailout dollars, and no one knows what service they actually provide beyond fraud, gross self-indulgence and the occasional transparently insincere public apology."
"Manipulation of the commodities markets" and "Ponzi schemes in the precious-metals markets," eh? Well, it's a start. Let's hope Taibbi follows up. But regardless of whether he does, GATA is aware of three major newspapers that have begun making serious inquiries about the gold and silver price suppression scheme. Whoever gets to it first will have the financial story of the century, revealing the secret knowledge of the financial universe.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc
The implications are that the illegal suppression of the PMs and their offspring JPMs on the bottom rung of the PMs is beginning to come to and end. This would suggest that a woefully tortured sector is about to be released into the real world of free market trading and that all those fund paid bashers we have endured for years, will soon be out of work ...or paid to pump if the bad guys decide to make fortunes on the upside that will be with us for the next few years at least.
What is exciting about all this is that rare, hidden investments such as SFMI may soon be allowed to trade freely...untethered from the leash of the fraudulent naked, counterfeit shorts and their bulletin board emissaries.
The upshot is that today, the angst of those very large miners who desperately need the fuel of new, very rare high grade gold/silver resources ...has been stepped up another notch. Their "waiting game ploys" now need nerves of steel before they have to jump at a much greater cost (higher offer) before "the other guy" does. Now tey can hear the clock ticking much louder. For them, the unthinkable is unfolding at warp speed and every day that goes by, every new fraud charge, every new revealing article about the manpulation of the PM sector...will cost them more and more to up the ante.
Many of these large producers have been complicit by their silence in the ten year suppression of the gold/silver markets. Barrick even setteld out of court on such charges in a case by Blanchard...all to keep the game going..to keep it quiet, screwing their own shareholders by getting in bed with the giant vampire squid and its peers.
Ahh, but the best laid plans of mice and man oft go awry and we are witnessng that now as the heat in the kitchen becomes a little too hot. The end game plan by the big boy producers was to keep quiet, play the game and in the end, make predatory strikes while the iron was hot and scoop up all the great small and medium producers...and explorers with great promise...at drastically undervalued, fraudulenty suppressed prices...for penniies on the dollar...while all the while billions and billions had been made illegally shorting the markets.
I guarantee you all that those producers covetously eyeing the hidden treasures of SFMI's War Eagle in-ground and above ground vaults...are much more interested today than they were last week. Who can blff the longest...who flitches first?
Ladies and gentlemen, enjoy the show. It is Act 1.
