London Trader: FedRes’ Global War Against Gold Escalating!
- The Illuminist bullion banksters can manipulate gold/silver prices lower all they want. The reality is: there are a lot of happy people in Asia (particularly China) who are mopping up the physical bullion at such cheap prices. How long can these snakes hold the prices at such depressed levels? Well definitely, not forever. They only way they can stop the physical bullion from disappearing from the West into Asia is by raising prices dramatically.
London Trader – Fed’s Global War Against Gold Escalating!
With many global investors still rattled by the price action of gold and silver, today King World News interviewed the “London Trader” to get his take on these markets. Here is what the source had to say: “Gold was trashed on Monday, while the Fed minutes essentially said nothing. When a central bank coordinates that kind of attack, it’s war, of course it’s war. This type of action is coordinated by Bernanke and the Fed and executed by the bullion banks. It’s actually laughable if anyone thinks that was a legitimate selloff, on what was, in reality, no news.”
There is massive sovereign physical buying going on right now. Interestingly, the sovereign buying is being swamped by paper selling. Sovereign buyers are aggressively buying tonnage every day at these levels. You have to remember their goal is to pick up physical and get rid of dollars.
We are now to the end game. The bullion banks are so naked short gold and silver it’s unimaginable. They owe so much physical metal to market participants and more physical purchases are being scaled in every day. The sovereign buyers are taking down huge size, we’re talking serious tonnage.
The bottom line here is the leverage by the bullion banks is extraordinarily massive, and players have to remember, eventually it has to get unwound. Jim Sinclair recently stated, ‘Overvaluation in the gold market will be something to behold.’ I can promise you, his statement will be proven correct.”
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