Posted by rahrens_1 on July 04th 2011 at 08:43 am
Rob Kirby has a great piece out that looks at the derivatives market and how it relates to gold manipulation. He starts by noting how far off Bill Gross has been, at least to date, on his interest rate calls, where the 10 year has actually decreased instead of a significant increase. The then notes that the large TBTF players must never make mistakes for if they did their derivatives would crush then and likely the entire US financial system also. It would seem these players like JP Morgan are way beyond TBTF.
Kirby notes a 2006 Business week article where Bush states:
“President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006″
He then goes on to note how natural gas prices are 2-3 times lower in North America and how WTI crude is magically less expensive than Brent to the tune of over $16/barrel where historical WTI had been more expensive due to it’s higher grade. The implication is that the US has excreted great control over the financial system and commodities, especially gold to maintain their facade.
As noted by many the best we can hope for is that gold and silver will continue to slowly be allowed to increase but the full value of gold and silver will only be realized with what Jim Sinclair would call a “loss of control” event.
See full article here.