When I say manipulation – I am really talking about the long term affects of the efforts by the cartel to constantly throw paper at the market. The long term affect is, in my view, a price that is Way, Way off the true price that would balance physical supply vs. demand.
When I say manipulation, I mean the cumulative affects of all of the false, paper Gold present in the world.. not just this Comex paper, but the leased CB (and other) Gold that is double counted.. the rehypothecated Gold that is x-times counted, the masses of unbacked unallocated paper Gold in London that simply does not exist other than as promises, and the ETF's like GLD that siphon demand for physical into more paper ( http://investmentresearchdynamics.com/think-gld-is-legit-better-twice-about-that/).
My analysis of the market points to a phase change. I think we are in that right now.
These public thread arguments about the details of manipulation are too much of an energy suck for me… I don't want to do this anymore. For me this is settled science.. arguing with Dave on this topic is like arguing with somebody who thinks the earth is flat. If anyone from PP.com wants to talk to me about PM's.. please PM me : ) Good luck to all… including Dave.